Business Management - Marketing/Sales
With elastic demand, an increase in a product’s price causes the quantity demanded to decrease. Products likely to encounter elastic demand include those perceived as commodities or near-commodities, those for which there is intense competition or numerous substitute choices and those that have been poorly differentiated.
Allowing these six steps to guide you in your strategic market planning will bring to light the best strategies your organization can employ. It enables you to determine your best products and which ones to market heavily. This avoids the costly mistake of marketing everything to everyone—which rarely serves an organization well.
We spend our day calling and leaving voice mail messages. Our prospects duck, dodge and hide from us, and we curse them under our breath. But then we do the same to those who call us. It baffles me.
Your customers—and especially your prospects—don’t care about you. They don’t care about the products you’re selling, and they don’t care about your company. People don't buy features, they don’t really even buy ROI. What they buy is what that ROI will do for them.
You know that I love to quote clichés here, right? There’s that one about assumptions that we in print sales coaching talk about a LOT. You are making them, and they are KILLING you (professionally) and your sales.
Strategy is one of those words that big-shot CEOs, consultants and MBA professors like to throw at us. They try to make the word seem to be something exotic. Strategy is only a synonym for the word “how.”
There is a natural interaction between social media strategy and content strategy. When they are worked together in a cohesive push-pull strategy, brand messaging can score off the charts. That’s assuming, of course, the messaging lines up perfectly with what your key audience(s) are searching for. This is so important, I believe, that one without the other is the proverbial billboard in the desert.
Whenever your company develops a new product or introduces one into a new distribution channel or geographical area, you must set an initial price. The price of your product is integral in determining its demand levels, profit margins and revenue.
Picking your battles can be tough. But it is vital that you take a look at the big picture, consider all the angles and then make the decision that will best serve your team and your sales.
Matt had asked to take me to lunch to learn whatever I could teach him, because when he Googled “print buyers,” my name popped up. He was thoroughly excited about his new adventure in what we’ll call the Print Industry.