The 7Ps of Marketing Mix

Marketing professionals and specialist use many tactics to attract and retain their customers. These activities comprise of different concepts, the most important one being the marketing mix. There are two concepts for marketing mix: 4P and 7P. It is essential to balance the 4Ps or the 7Ps of the marketing mix. The concept of 4Ps has been long used for the product industry while the latter has emerged as a successful proposition for the services industry.

The 7Ps of the marketing mix can be discussed as:

Product – It must provide value to a customer but does not have to be tangible at the same time. Basically, it involves introducing new products or improvising the existing products.

Price – Pricing must be competitive and must entail profit. The pricing strategy can comprise discounts, offers and the like.

Place – It refers to the place where the customers can buy the product and how the product reaches out to that place. This is done through different channels, like Internet, wholesalers and retailers.

Promotion – It includes the various ways of communicating to the customers of what the company has to offer. It is about communicating about the benefits of using a particular product or service rather than just talking about its features.

People – People refer to the customers, employees, management and everybody else involved in it. It is essential for everyone to realize that the reputation of the brand that you are involved with is in the people’s hands.

Process – It refers to the methods and process of providing a service and is hence essential to have a thorough knowledge on whether the services are helpful to the customers, if they are provided in time, if the customers are informed in hand about the services and many such things.

Physical (evidence) – It refers to the experience of using a product or service. When a service goes out to the customer, it is essential that you help him see what he is buying or not. For example- brochures, pamphlets etc serve this purpose.

Web design layouts for better customer experience

There are a lot of people out there who are deciding to launch their websites daily and if there is a common problem that many of them are facing, that problem definitely has to be web design. Choosing a professional website builder is something that will add the final retouches to your website and it will make it look in a way that will be attracting and pleasing to the eyes, so that the traffic that you have targeted for it, will be achieved in a timely manner. You should know that if you choose the right web design, you will also get more and more traffic.

There are a few coding options that are available when it comes to website design and if your coding will be done using Java Scripting or Flash animations, then the SEO side of your website will never be met the way you wanted.

Most of the times, people that use such coding, will try to make up for it by using written content that is full of jargon and day to day expressions that people are using. But there is something that they really don’t keep in mind when designing a website, a mistake that the best website builder out there will never make.

You should always get a good web design service after you have created your website and you should know that the jargon is not the solution to your traffic problems. That is because people are mostly attracted by professional sounding offers, rather than offers that sound like they’ve been spit out by a homie.

As you know, choosing a fast website builder for your website is something that will in the end, decide the fate of your business. It is recommended that you will not use too many colors or too bright colors, as they are not very comfortable to the human eye. Imagine yourself visiting a website with bright colors right before you are going to sleep. It will make you feel very bad.

But if you will go with a web design you will never have to worry about the quality of your web design, as everything will be done by professionals and you will be in for the best services that you can get, in a timely manner and for prices that will never poke your wallet. So if you want that your website’s traffic will increase on a daily basis and have more and more revenue at the end of the month, then web design is the solution to your problems.

Make sure to visit us if you would like to know more about best website builder and easy website builder.

6 Key Elements of Customer Relationship Marketing

Customer Relationship Marketing (CRM) is a highly topical and relevant way of thinking about marketing. It is relevant because of the internet, and the impact it has had on the way marketing is carried out by businesses.

In this article, I’d like to look at six of the key conceptual elements which under-pin the CRM approach.

Element 1: Customer Differentiation

As its’ name implies, CRM is a customer centric approach to business. With this approach, a company is aiming to differentiate its’ product or service offering by customer profile. Instead of a more conventional approach, where a company differentiates primarily by its’ products or services.

Element 2: Long Term Emphasis

The aim here is to build a relationship with a customer over a period of time. This approach dove-tails very well with many Inbound Marketing strategies which are used on the internet.

This ongoing relationship has both cost and revenue benefits. On the cost side, it is almost always less expensive to market to an existing customer, than find a new one. The reason is simple; they already trust your organisation.

Element 3: Continuing Transactions

This is in some ways related to element two above. Rather than seeking one-off transactions with customers aim for multiple transactions. This may be in the form of cross-sales, add-on sales etc. Or it may be that you become a preferred supplier for a given niche product or service.

Sometimes, this is an economic necessity, as the cost of getting a first transaction is so high, that only repeat sales make the process worthwhile.

Element 4: Two-Way Communication

A core element in the building up of meaningful customer relationships is their ability to stay in touch with a company. With the advent of social media, email and SMS, this is even easier. This technology allows the communication to become more of a two-way process. And it is the customers who are just as likely to initiate a communication as is the organisation.

This is a great way to get real feedback of people’s wants and needs. And it ties in well with element one above; creating customer centric products and services.

Element 5: Retention Focus

With the CRM approach, a company is focused more on how to retain customers as opposed to simply how to acquire more customers. Aiming for a low customer churn rate is seen as highly desirable, and it is very often a cost effective way of doing business.

This feature again ties in well with the shift in power between buyers and suppliers that the internet has created. Buyers are no longer dependent on supply companies to tell them what’s available. They can go to the internet and do their own research, and share stories with other people who have used a product or service.

Element 6: Share of Values

By aiming to share a value set with their customers, companies can build strong relationships. These strong relationships translate into a clear brand identity, which transcends the ability of organisations to simply buy loyalty with advertising or special offers.

Summary

In summary, CRM is a major shift in marketing practice, from mass marketing to individualized marketing. The focus has shifted from acquiring lots of new customers to retaining and building more business from a smaller base of loyal high-value customers.

How Do Businesses Use Internet Marketing?

Internet marketing is simply the process of promoting a product or service on the internet, which makes it possible for businesses to reach to a huge number of internet users from all over the world.

There are many different kinds of internet marketing strategies. These include email marketing, social media marketing, video marketing, display advertising, affiliate marketing or search engine marketing.

Focused And Targeted Marketing

The reason that businesses use internet marketing is because it has allowed unprecedented levels of focused and targeted marketing. Customers are looking online for solutions to their problems that work and offer good value for money.But with so many businesses online, you need to clearly present your prospects with exactly the kinds of solutions they are looking for.

Here are 5 ways that businesses use internet marketing to their advantage.

1. Know Your Market

A market or niche is the specific industry that your online business focuses on. Remember that no business can sell to everyone. The more focused you can make the content on your website, videos, social media posts, and any other marketing messages, the more successful your online business will become.

2. A Professional Website

If your website looks unprofessional, prospects won’t hang around for long. Even if you implement every internet marketing strategy to get visitors to your website in the first place, if it looks shoddy and unprofessional, it’s highly unlikely that they will consider buying from you.

3. You Provide Value

Just because the information on your website is free doesn’t mean it should be rubbish. In fact, producing high quality content on a regular is a great way internet marketing strategy. Make sure your website has information on every product and service you offer.

4. Build A List Of Prospects

Use your website to capture email addresses and build your email marketing list. By doing this, you can connect with your prospects on frequent basis. By delivering valuable information via email, it will help you to develop a relationship with your prospects and show you know what you are talking about. That way, they will be more likely to buy from you.

5. Monitor The Trends In Your Marketplace

Success in internet marketing comes from giving your prospects what they want and need. Demonstrate to your potential customers that you know all about all the top products and services available, not just your own. If you study your niche and keep up to date with the latest trends, you can make use of this information to position your business as the go to brand.

Internet Marketing: 3 Ways to Get Paid Through Internet Marketing

If you’re new to the world of internet marketing, you may be wondering where to begin. You might have even heard some terms used that you don’t even understand. I’ll tell you the 3 basic ways to get paid via the internet and you should be able to decide which methods work best for you.

PPC or Pay Per Click

PPC also known as pay-per-click is arguably the simplest way to get paid as an internet marketing. You post a link and get people to click on it. Anytime anyone just clicks your link, you get paid.

It’s the easiest because no one has to buy anything. Nor do they have to give any of their personal information. They only have to click on your link and you get paid a set amount each time that happens. Google AdSense is one of the main PPC programs you can sign up for and start PPC marketing right away.

PPL or Pay Per Lead

Pay-per-lead is the next way to get paid. You must convert you visitors into leads before you get paid. You must present an opt-in offer to capture their information.

What information you need to capture will vary with each PPL program. However, it’s one step further than PPC. Not only must your prospect click, they have to leave their contact information, thus making them a lead. The easiest way to turn visitors into lead is to offer something for FREE. People love free stuff. The less information you ask for the more leads you’ll get. Just make sure you capture all the necessary info for your particular program.

PPS or Pay Per Sell

Pay-per-sell is the last way to get paid by internet marketing. You can either sell your own products or become an affiliate, and sell someone else’s. When you’re just beginning, it’s easier to get paid commission off someone else’s product than to create your own.

With PPS, you get paid every time a product unit or service sells. The simplest way to get paid with this method is through affiliate marketing. You can skip the product research and development costs, the time it takes to develop a quality product and the product launch costs. As an affiliate, you can get straight to marketing the product and making sales.

You’ve learned the 3 ways to get paid via the internet: PPC, PPL and PPS. It doesn’t have to be complicated. Just pick 1 or 2 methods to start with and focus all your time and attention on those.

Of course with each payment method there are tons of special techniques to learn. If you want to learn how to master any of the methods, be sure to visit the website. Find out how the top internet marketers dominate using PPC, PPL and PPS.

Everything You Wanted to Know About Alexa Ranking

What is Alexa rank?

This is a ranking system set by alexa.com (a subsidiary of Amazon.com) that basically audits the frequency of visits on various Websites. Your Alexa Rank is an estimate of how popular your site is relative to all other sites.

How does Alexa get its data?

Alexa has a large traffic data panel consisting of millions of people all over the world. Based on the data from this sample, Alexa estimates the number of visitors to all sites on the Internet. It’s a complicated calculation that involves correcting for biases as well as identifying and discarding fake or spam traffic.

How is the Alexa Ranking determined?

It is based on the amount of traffic recorded from users that have the Alexa toolbar installed over a period of three months. This traffic is based on parameters such as reach and page views. The reach refers to the number of Alexa users who visit a particular site in one day. Page view is the number of times a particular page (URL) is viewed by Alexa users. If a particular user visits the same URL multiple times on the same day, all those visits will be counted as one. There are limits to statistics based on the data available. Sites with relatively low measured traffic will not be accurately ranked by Alexa. Enough data from the sources are not received to make rankings beyond 100,000 statistically meaningful. This means that, for example, the difference in traffic between a site ranked 1,000,000 and a site ranked 2,000,000 has low statistical significance. Sites ranked 100,000+ may be subject to large ranking swings due to the scarcity of data for those sites. It is not unusual for such sites to decline to “No data” Traffic Ranks, or to improve suddenly.

With Alexa, the smaller the numerical ranking, the better.

What are the advantages of Alexa rank?

1. Alexa ranking can be used as a competitive tool to know the traffic for other websites.

2. It helps Webmasters and advertisers see the true marketing potential of your Web site. The better your Alexa rank, the higher they will be willing to bid to buy advertising space on your Web site.

3. Showcasing your traffic statistics and true audience size can help you attract potential customers.

4. Lesser your Alexa ranking is, the better quality traffic you can get.

5. Personal pages or blogs are taken into consideration and ranked in the same manner as regular Web sites. They will even get a distinctive mark (*).

6. Alexa Certified Metrics only counts real traffic. They filter out web crawlers and other unnecessary “noise” which can artificially inflate your metrics. This provides you a clear picture of your true traffic metrics, allowing you to make better business decisions based on genuine data.

7. Alexa Certified Metrics makes performance tracking easy by continually monitoring your site’s uptime. They display your uptime next to your traffic graphs allowing you to cross-correlate traffic trends with your site’s availability and technical issues.

How to Make your Alexa Rank Better

1. Installing Alexa toolbar in your browser. This the first and the foremost step.

2. Put Alexa widget in your site. This will encourage your visitor to click that.

3. Showcase your Alexa rank to your social media friends/ bloggers friends and link back to your blog.

4. Writing quality and original content. Update the content frequently that provides real value to your audience. Content that drifts from this motivation fails to build quality audiences. When readers find resources valuable and informative, they engage with future content and share among their networks which in turn help in link building. Introducing new visitors that potentially turn into customers.

5. Get more related sites to link to your website that is inbound links. This helps improve the trust and quality of your site. Internal links, on the other hand, are links that lead from one page or post on your site to another. These are beneficial because they guide visitors through your website (i.e. website navigation), keeping them engaged with relevant and related content.

6. Analysing your competitors marketing strategies and find keywords that are gaining your competitors a better traffic. By doing a little keyword research you can understand what your audiences are searching for and how.

7. Writing articles on Alexa will help to link your page.

8. Making quality backlinks for your site (leaving your website URL in the comment section of the website) which gains good traffic for your site.

9. Follow the best practices of SEO. SEO is a very significant strategy that deserves a substantial amount of your time and attention. But SEO is not just about improving the promotion and visibility of your website. It’s also about making your site better for your customers who use it to interface with your brand. Without a good user experience you have little hope of keeping or converting your customers.

10. Sign up for a free account on Alexa.com and submit your site there.

11. Gain traffic from social media by actively participating in social bookmarking, Micro blogging, Forum and Blog commenting.

Advertising Agency and Its Role

It doesn’t matter how important your product is. It doesn’t matter how useful your services are. What matters is how you are promoting your product and services. If you have chosen the right tools and techniques, if your advertising is in the right direction, if you have chosen the right channel and if you have targeted the right audience then it can be said that you are doing the right kind of advertising. In fact the endeavour must bring results otherwise everything is useless. If you have a product and if you want to do excellent promotion then you can take the help of certain agencies like an advertising agency.

These agencies make sure that your products reach to your target audience in the right time. These days an online advertising agency is serving this purpose and many business ventures are getting immense help due to them. They can let you know about different online ad techniques which are the most modern tools of advertising. You can opt for search engine marketing, B2B lead generation, banner advertising, Email marketing and other tools. These are highly efficient tools which are cost-effective also. The growth of Internet might be clear to you and this growth has increased the population of online prospects who are doing online shopping.

Due to these online shoppers Internet advertising is successful if you do it in the right way. That is why it is suggested that you use an online advertising agency. Also, the prerequisites of a good promotion are that it must attract the target audience, it must communicate the proper message and it must bring good results. It must be generating revenue and the faster the result the better is the ad tool. An advertising agency can help you in preparing attractive and cost-effective banners. These are highly result-oriented and so are very successful.

So opting for an advertising agency is never a bad idea. You can see your product to reach your customers in short time and you can expect good return on investment (ROI). Speculations are that till 2011 Internet will be the biggest advertising media. Now you can understand the role of an advertising agency.

Effects of Emerging Technologies on the Society

Advancement in technology has made the world go “gaga”. As far as technology is concerned, you can expect the unexpected or imagine the unimaginable. The world has left the stage of crude implementation. Every facet of life has been touched and affected by technology. The bewilderment of everyone is that existing technologies are fast becoming obsolete by the day; courtesy of advancement in technology. This article discusses the effects of emerging technology on the society.

Technology has affected and is still affecting people of all age brackets from all over the world. You can imagine the formats in which toddlers’ toys and items for old people are made these days. They are given touch of modernity to let them have the feel of the innovations the mind of the human person is capable of.

Internet Technology

Let us begin with Information Technology. Gone are the days when people melted for fear of where to get information or data for their usage. Whatever information you think you need has been well written out for you on the Internet. “Internet is the world on the computer”. The internet has a wealth of information on every area of human endeavour. It is a safe place of consultation or reference for students as well as professors. The internet is a place individuals and enterprise run to locate the information they need. For instance, when you need any service, just log into the Internet, and you will see one million and one individuals and organisations who render such services. Whatever it is you need, you can find it on the internet.

The world wide web as an aspect of technological advancement, has made the production and sharing of information a breeze. With the proper use of the internet, businesses that took “ages” to be accomplished are now executed within a twinkle of an eye. Even though the internet has numerous advantages, it has some disadvantages too. A lot of unhealthy materials are available on the internet. And these to the detriment of innocent minds. In as much as good people post relevant information on the net for the use of those who need them, people with bad intentions also post harmful materials on the internet. Materials on how to indulge in bad things abound on the internet. This is because a large part of the internet is not censored.

Technological advancements have positive and negative effects on us. Let us talk about other facets of latest technologies and their effects.

Nano technology

Nano technology, like the Internet technology is spreading like a wild fire and its future effects are unimaginable. Nano technology spreads through large parts of human life. In the area of human health, nano technology is used for the treatment of cancer. It is used through the infrared to dismantle cancer tumors. Besides the health sector where nano technology has proved its relevance, it is also a force in the electronic sector. With nano, devices or applications of different types and sizes can be built. As a matter of fact, the military seems to be using the nano technology than anyone else. They are projecting its usage for combat, espionage and so forth. Nano technology has unimaginable possibilities. If care is not taken, without nano technology, a lot of damages could be achieved. And the world that has been built for many years might be destroyed within a few moment.

Energy Technology

So much has come out under this category. We have the solar energy, the wind powered plants, hydrogen battery technology. These have proved really useful in place of their alternative technologies. They have helped to break monopoly of various power sectors. Many homes in the US and Europe power their homes with solar energy. This and others are fruits of alternative energy. As good as these are, they come with some environmental hazards. They generate a level of pollutions in our environments like air and water pollution and heat generation to mention but a few.

In a nutshell, as good and important as modern technologies are, efforts should be made to curb their negative impacts. Whenever there is a technological innovation, efforts should be made to forestall its negative impacts on the society.

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The Marketing Environment

No business exists and operates in a vacuum, but as a part and parcel of the environment in which it finds itself. Efficient and effective marketing strategy is a function of the marketing manager’s ability to understand the environment in which the business operates.

The marketing environment consists of a set of factors or forces that operate or influence a company’s performance in its chosen target market.

Jain (1981:69) defined the marketing environment to include all those factors that may affect the organization directly or indirectly in any perceptible way. Marketing environment factors affects the organization by the way of input and the organizations also affect the environment by output. The relationship between the organization and the marketing environment is often referred to as “inseparable” the organization and it environment are constantly in a state of: give and take” or homeostasis.

The marketing environment consist of those forces or element that impacts on the company’s capability to operate effectively in its chosen target market.

The marketing environment is divided into two major components. The elements are,

Internal environment: the internal environment is concerned with the controllable variables. Controllable variables are categorized into two groups, they are; the strategy variables and unmarketable variables. External environment: the external environment is concerned with the uncontrollable variables. These variables are called uncontrollable because the marketing manager cannot directly control any of the elements. The marketing manager is left with the option of adapting to the environment by prompt observation, analysis and forecasting of these environmental factors. The external environment can further be divided into two components, the micro environment and the macro environment.

Micro environment:

The elements that fall under the micro environment consist of forces or factors in the firm’s immediate environment that affect the firm’s capability to perform effectively in the market place. These forces are suppliers, distributors, customers and competitors. Let us discuss each of the variables in details.

Suppliers:

Suppliers are business customers who provide goods and services to other business organizations for resale or for productions of other goods. The behavior of certain forces in the suppliers can affect the performance of the buying organization positively or negatively. The critical factors here are the number of suppliers and the volume of suppliers to the industry. An audit of the suppliers will enable us to appreciate their strength and bargaining power, which the suppliers hold over the industry as a whole. The answers to the issues concerned have the potentials to affect the capability of firms in the industry to effectively deliver need-satisfying goods and/ or services. The trend today is that buyers attempt to persuade the supplier to provide exactly what the firms want. This process is known as “reverse marketing”.

Customers:

Customers are those who buy goods and/ or services produced by the company. In a purchase chain, different people play significant roles before a purchase decision is made. The various influences must be understood. The customer may be the consumer of the products where he/she is the user. The critical factor here is that needs and wants of consumers are not static. They are fast changing. The changes in the preferences of the consumer create opportunities and threats in the market. The changes called for the marshaling of separate strategy to either fit into windows of opportunities or survive the threats in the market. A good knowledge of consumers’ behavior will facilitate the design and production of goods and services that the customers need and want, and not what they are able to produce.

Competitor:

A competitor is a firm operating in the same industry or market with another firm. The consideration here is that, Firm A produces a substitute to that of firm B (industrial approach) or firm A and firm B seeks to satisfy the same customer need (market approach.

Good Website Design Features

Good Website Design Features
One of the elements of good web design is a lack of the elements that make bad web design. If you stay away from everything listed on the page about dorky web pages, you’ve probably got a pretty nice web site. In addition, keep these concepts in mind:

Text
Background does not interrupt the text
Text is big enough to read, but not too big
The hierarchy of information is perfectly clear
Columns of text are narrower than in a book to make reading easier on the screen

Navigation
Navigation buttons and bars are easy to understand and use
Navigation is consistent throughout web site
Navigation buttons and bars provide the visitor with a clue as to where they are, what page of the site they are currently on
Frames, if used, are not obtrusive
A large site has an index or site map

Links
Link colors coordinate with page colors
Links are underlined so they are instantly clear to the visitor

Graphics
Buttons are not big and dorky
Every graphic has an alt label
Every graphic link has a matching text link
Graphics and backgrounds use browser-safe colors
Animated graphics turn off by themselves

General Design
Pages download quickly
First page and home page fit into 800 x 600 pixel space
All of the other pages have the immediate visual impact within 800 x 600 pixels
Good use of graphic elements (photos, subheads, pull quotes) to break up large areas of text
Every web page in the site looks like it belongs to the same site; there are repetitive elements that carry throughout the pages

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