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Here are 25 famous quotations that deal with strategy, from the battlefield to the boardroom, that will help to position strategy in your mind so that you may make it work in your company.

1. Victorious warriors win first and then go to war, while defeated warriors go to war first and then seek to win.

5. The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.

8. Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.

9. In marketing Ive seen only one strategy that cant miss – and that is to market to your best customers first, your best prospects second and the rest of the world last.

10. What do you want to achieve or avoid? The answers to this question are objectives. How will you go about achieving your desire results? The answer to this you can call strategy.

12. What business strategy is all about-what distinguishes it from all other kinds of business planning-is, in a word, competitive advantage. Without competitors there would be no need for strategy, for the sole purpose of strategic planning is to enable the company to gain, as efficiently as possible, a sustainable edge over its competitors.

13. The real challenge in crafting strategy lies in detecting subtle discontinuities that may undermine a business in the future. And for that there is no technique, no program, just a sharp mind in touch with the situation.

20. If you cant describe your strategy in twenty minutes, simply and in plain language, you havent got a plan. But, people may say, Ive got a complex strategy. It cant be reduced to a page. Thats nonsense. Thats not a complex strategy. Its a complex thought about the strategy.

21. The expert in battle seeks his victory from strategic advantage and does not demand it from his men.

23. In real life, strategy is actually very straightforward. You pick a general direction and implement like hell.

24. Strategy formulation, then, is an ongoing requirement of good management. It is, to quote Michael Porter, a process of perceiving new positions that woo customers from established positions or draw new customers into the market. This is a process you must permanently embed in your organization.

Ansoff Matrix

The Ansoff growth matrix assists organizations to map strategic product market growth

The Ansoff Matrix also known as the Ansoff product and market growth matrix is a marketing planning tool which usually aids a business in determining its product and market growth. This is usually determined by focusing on whether the products are new or existing and whether the market is new or existing.

The model was invented byH. Igor Ansoff. Ansoff was primarily a mathematician with an expert insight into business management. It is believed that the concept of strategic management is widely attributed to the great man.

The Ansoff Matrix has four alternatives of marketing strategies; Market Penetration, product development, market development and diversification.

When we look atmarket penetration, it usually covers products that are existence and that are also existent in an existing market. In this strategy, there can be further exploitation of the products without necessarily changing the product or the outlook of the product. This will be possible through the use of promotional methods, putting various pricing policies that may attract more clientele, or one can make the distribution more extensive.

In Market Penetration, the risk involved in its marketing strategies is usually the least since the products are already familiar to the consumers and so is the established market. Another way in which market penetration can be increased is by coming up with various initiatives that will encourage increased usage of the product. A good example is the usage of toothpaste. Research has shown that the toothbrush head influences the amount of toothpaste that one will use. Thus if the head of the toothbrush is bigger it will mean that more toothpaste will be used thus promoting the usage of the toothpaste and eventually leading to more purchase of the toothpaste.

Inproduct developmentgrowth strategy, new products are introduced into existing markets. Product development can differ from the introduction of a new product in an existing market or it can involve the modification of an existing product. By modifying the product one would probably change its outlook or presentation, increase the products performance or quality. By doing so, it can appeal more to the already existing market. A good example is car manufacturers who offer a range of car parts so as to target the car owners in purchasing a replica of the models, clothing and pens.

The third marketing strategy isMarket Development. It may also be known as Market Extension. In this strategy, the business sells its existing products to new markets. This can be made possible through further market segmentation to aid in identifying a new clientele base. This strategy assumes that the existing markets have been fully exploited thus the need to venture into new markets. There are various approaches to this strategy, which include: New geographical markets, new distribution channels, new product packaging, and different pricing policies. In New geographical markets, the business can expound by exporting their products to other new countries. It would also mean setting up other branches of the business in other areas that the business had not ventured yet. Various businesses have adopted the franchise method as a way of setting up other branches in new markets.

A good example is Guinness. This beer had originally been made to be sold in countries that have a colder climate, but now it is also being sold in African countries. The other method is via new distribution channels. This would entail selling the products via e-commerce or mail order. Selling through e-commerce will capture a larger clientele base since we are in a digital era where most people access the internet often. In New Product packaging, it means repacking the product in another method or dimension. That way it may attract a different customer base. In Different pricing policies, the business could change its prices so as to attract a different customer base or so create a new market segment. Market Development is a far much risky strategy as compared to Market Penetration. This is so as it is targeting a new market and one may not quit tell how the out come may be.

The last strategy isDiversification. This growth strategy involves an organization marketing or selling new products to new markets at the same time. It is the most risky strategy among the others as it involves two unknowns, new products being created and the business does not know the development problems that may occur in the process. There is also the fact that there is a new market being targeted, which will bring the problem of having unknown characteristics. For a business to take a step into diversification, they need to have their facts right regarding what it expects to gain from the strategy and have a clear assessment of the risks involved.

There are two types of diversification. There is related diversification and unrelated diversification. In related diversification, this means that the business remains in the same industry in which it is familiar with. For example, a cake manufacturer diversifies into a fresh juice manufacturer. This diversification is in the same industry which is the food industry. In unrelated diversification, there are usually no previous industry relations or market experiences. One can diversify from a food industry to a mechanical industry for instance.

A good example of the unrelated diversification is Richard Branson. He took advantage of the virgin brand and diversified into various fields such as entertainment, air and rail travel foods etc. Another example is the easy jet which has diversified into car rentals, gyms, fast foods and hotels. Though diversification may be risky, with an equal balance between risk and reward, then the strategy can be highly rewarding. Another advantage of diversification is that in case one business suffers from adverse circumstances the other line of businesses may not be affected.

Some schools of thought believe that the use of strategic management tools such as the Ansoff Matrix can result in an overuse of analysis. In fact, Ansoff himself thought about this and it was he who first mentioned the now famous phrase paralysis by analysis. Make sure that you do not fall victim to procrastination caused by excessive planning.

The Basics of Online Marketing Strategy

This article was updated in 11/2016 to reflect changes in the digital marketing industry.

Online marketing has changed dramatically in the past few years. When Google released search theirPandaand Penguin algorithm updates, many website owners were sent scrambling as they watched their sites rank slip.

But not all online marketers found Googles updates to be devastating. Those who built a strong foundation in white hat online marketing practices werent affected like marketers who cut corners and tried to game the system. These sites found their rankings plummet, and deservedly so.

Unfortunately, there were also those website owners who were stuck in the middle. Companies and individuals without a dedicated marketing team to test and tweak their strategies also saw their rankings dive. Most of the websites in this category were run by business owners focused on day-to-day operations.

Marketing is only a small fraction of daily operations, which means they didnt have the time to understand the practices and testing that goes into online marketing. Instead, these business owners picked up techniques here and there, but were often unaware of how and when to use different practices.

If this sounds like you, this overview will help you understand basic online marketing practices and how to use them.

Building a successful online marketing strategy is just like building anything it starts with a solid foundation. That foundation comes from understanding three basics of online marketing:

But, knowing what each facet does isnt enough. As many people discovered after the recent Google updates, applying even well-established marketing techniques incorrectly way can hurt your ranking.

To maximize their benefits, you also need to understand their shortcomings.

When people think of online marketing and the search engines, SEO is usually the first thing that comes to mind. SEO is used to create a site that the search engines will rank as one of the most relevant pages for a given term. The fact is, 95 percent of searchers click on a page that appears on the first page results forGoogle, Yahoo! or Bing. You can see that search rank is a big deal!

Buildinga solid SEO strategyconsists primarily of selecting relevant keywords and providing valuable content related to those keywords. In the past, SEO was driven by factors like keyword placement, keywords density, and even how many times a keyword was used to link to that page.

But the search engines quickly discovered that keywords could be easily manipulated. A page that had nothing to do with a keyword could be ranked in top three, just by optimizing the page. Today, this means that sites who rely solely on keywords are often ignored by the search engines.

Content marketing is not a new concept. In fact, John Deere started the trend in 1895 when they released The Furrow, an agricultural magazine. Other companies like Jell-O and Michelin followed suit with recipe books and automotive tips. Content marketing is important because it helps build your brand and inspire confidence in your company. In fact, six out of ten consumerssay that after reading a custom publication, they feel better about the company.

Online content marketing has expanded the field to include blogs, training videos, podcasts, and even video games. But like every other online strategy, content marketing has its downsides. Low-quality content is the most common mistake and can affect your rankings and damage your brand. For example, content riddled with grammar and spelling errors makes you look careless and unprofessional. Providing statements without verifying the facts can make you look foolish. Remember that the content you put on your site might be the first impression a prospective client gets of your company.

Another mistake many businesses make is to pull away from content marketing all together. This likely results from a trend against guest blogging before the recent Google updates. Aggressive marketers were creating guest blog posts, and then submitting them to anyone who would publish them in return for a backlink to their site. These backlinks were thought to be the perfect marriage of content marketing and good SEO.

Google, however, thought differently. They saw poor quality content of no value used for nothing more than backlinks. So Google took action against these aggressive marketers, and online marketers became concerned. Many dropped guest blogging and content marketing entirely, worried that their ranks would fall.

But Google never said guest blogging would result in poor rankings. They said marketers shouldprovide valuable content and host it on reputable sites.Which should have been the plan for most marketers to being with.

For some, social media is nothing more than a way to stay in touch with old friends. But for businesses, social media is a way to tie SEO and content marketing together. Search engines take into consideration thenumber of sharesa page receives when it ranks that particular piece of content.

Social media is also quickly becoming the primary way content is shared. Sites like Twitter, Google+, Stumble Upon, and Facebook all allow consumers to share valuable content with others in their network. Research shows people are more likely to trust content shared from people they know, so a share is akin to a 4 star rating!

A common mistake in social media marketing is thinking a large number of followers is all you need. In fact, many businesses have sprouted up offering to sell you 100 or 1000 real friends or fans. Keep in mind that friends and fans are not enough you need to build engagement. Friends that are purchased are often not your target demographic or are fake accounts. Neither will help you accomplish your goals.

In order to make the most of a social media marketing strategy, you need to interact with your fans and create a true community. Show that you are accessible by allowing people to ask questions, voice concerns, and even complain. Then address these issues in a professional manner. Provide them with content that interesting, not just promotional. Remember, social media is first of all social!

These three components are just the foundation of building a successful online marketing strategy. But without an understanding of how these three areas lay the groundwork for your overall strategy, you could find your efforts wasted. By building a solid online marketing foundation, you can begin to build a successful strategy that works for your business.

Tolearn more about SEO, read SEJs The Beginners Guide to SEO.

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Larry is a freelance business and online marketing consultant. Follow him on Twitter, Google+, and LinkedIn.

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Introduction to Brand Strategy Part 1 What Is Bnd Segy?

Product Testing Methods in Market Research

Whats in a Name: How to Name a New Product

Understanding the International Research Environment

Using Cluster Analysis for Market Research

Market Research Success with Culture

Introduction to Brand Strategy Part 1: What Is Brand Strategy?

By definition, brand strategy is a long-term plan for the development of a successful brand in order to achieve specific goals. A well-defined and executed brand strategy affects all aspects of a business and is directly connected to consumer needs, emotions, and competitive environments. But what does thatreallymean? Thats exactly what youll learn in Part 1 of my newIntroduction to Brand Strategyseries.

Create a new market research study, and get the valuable answers you need. As a market research company, we at AYTM are here to help you quickly and easily test brand ideas for your new company, product, service, or academic project.Learn more

As you develop a brand strategy, it helps to start at the beginning. In other words, begin by setting your business goals. Why are you creating a new brand? What do you hope to achieve by launching the new brand? Use those long-term objectives as a basis for all of your strategic branding efforts.

For example, are you trying to reach a new audience? Your brand strategy for achieving that goal is likely to be quite different from a business that wants to steal market share from a category leader, and thats why goal definition is a fundamental starting point for any brand strategy. The first question you have to answer is, Why?

Its easy to get caught up in the short-term activities and tactics that drive business today, but when it comes to building a brand, thats a big mistake. Brands arent built overnight, so your brand strategy shouldnt be focused on short-term tactics but rather on long-term goals and sustainable growth.

Admittedly, its hard to stay strategic when executives are weighed down by data and demand measurable growth and positive ROI right now. The best brand leaders, however, fight against short-term focus, because they know being short-sighted is a brand killer.

Thomson Dawson, Managing Partner of PULL Brand Innovation described this problem well inan articlewritten for Branding Strategy Insider earlier this year. He wrote:

Brand managers and agency account planners are tactics driven. Thats because 80% of the daily processes within marketing departments and ad agencies are based in project management. Creative Briefs tend to be control documents, rather than a forum for gathering inspirational ideas. Brand managers and their communication partners focus on the best way to manage process and the tight budgets they have been allocated. They usually arent thinking long-term when at the crossroads of strategic and creative decision-making. Theyre focused on getting a job done (on-time and on-budget).  Add the changing priorities of executive management into the mix, and its easy to see how messy creative briefs become.

Instead of focusing on short-term tactics, Dawson urges people to becomebrand architectswhich enables teams to design a lasting structure to bridge brand strategy and brand messaging. Hes absolutely right. Without a strong brand foundation built on a well-defined strategy, brands have little chance for success. However, its hard to stick with that strategy rather than be tempted by the allure of short-term focus.

Of course, the best brands stick with their strategies, but those strategies leave room for flexibility as the market, consumers, and competitors change. Think of it this way:

Just as your goals in life might change over time, so might your brand goals.

Similarly, just as you might modify your plan to achieve your goals in life, so too might your brand marketing plan change.

Finally, just as you seize opportunities to move closer to your goals as they arise throughout your life, youll also seize short-term opportunities to grow your brand and move closer to achieving your long-term brand goals as those opportunities are presented to you.

A specific, achievable brand strategy is an essential component of any business, because it affects every area of your business. Stay tuned to the AYTM blog for Part 2 of theIntroduction to Brand Strategyseries where youll learn about identifying stakeholders and developing your brand strategy.

Still confused about how to brand your idea?

Create a new market research study right now on ourTarget Market pageto test your concept(s). If you have any questions about how to construct your study, r call us at +1 (415) 364-8601 (8am-6pm Pacific Time).

Susan Gunelius, MBA is a 25-year marketing and branding expert and President and CEO of KeySplash Creative, Inc., a marketing communications company. She is the author of 10books about marketing, branding and social media, and her marketing-related articles appear on top media websites such as and m. She is also the Founder and Editor in Chief of WomenOnBusiness.com, an award-winning blog for business women.

Definition of Sales Strategy

Sales strategies must identify their target market.

executive business strategy image by bluefern from

A sales strategy is a plan by a business or individual on how to go about selling products and services and increasing profits. Sales strategies are typically developed by a companys administration, along with its sales, marketing and advertising managers. All involve pitches, or key points to address when speaking with potential consumers. Some of these pitches, such as those used by telemarketers, may have to be memorized and communicated verbatim.

Sales strategies differ by industry, but no matter what you sell, you need to determine the target market. For instance, it would be unwise for a company that sells baby dolls to advertise its products in mens fashion magazines. But identifying a market goes beyond the obvious. Things such as the location, age, gender and spending habits of a companys potential customers must also be established.

All companies must determine how to go about selling and promoting their products when developing a sales strategy. In other words, will you contact customers through the mail? By phone? Or by sending out mass marketing emails? Many companies use all of those methods–and more–in their quest to meet a potential client face-to-face. In fact, much of how a salesperson goes about pushing products and services is by, again, knowing her market.

Any good sales strategy is built with the competition in mind. That means understanding what has worked for opposing companies and perhaps even integrating it into your own sales strategy. Or even better, knowing what works for the competition and improving it, either by offering a similar product at lower prices or marketing a product as if its the best of its kind.

Occasionally, a product will go out of style and need to be updated, or replaced altogether. In other instances, the economy will determine how much a consumer is willing to spend on a certain product. Understanding these types of trends is a big factor in developing a sales strategy. The best strategies prepare themselves well in advance for when products become less popular or when financial markets fluctuate.

Organization is a major factor for success in any industry and sales is no different. Therefore, sales strategies need to include details on the role of those making sales, how accounts and territories should be managed, and of course, commission and compensation. Sometimes, strategies even outline incentives and bonuses for a successful sales record.

Sam Amico is a reporter for m and worked as a writer and editor at daily newspapers for more than a decade, covering everything from rock concerts to college football to courts and crime. He attended Kent State University and is the author of the book, A Basketball Summer. He also is the co-host of a nationally-syndicated television show, The Wine & Gold Zone.

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Examples ofSales Force Objectives& Strategies

Examplesof Marketing Strategies Used to Sell a Product

Market Penetration Strategy Definition


When a company decides to enter a new market, its essential to use market penetration strategy.The aim of market penetration is to effectively use your product, enter the market as quick as possible and seize a large market share.

Furthermore, market penetration is frequently used a measure to determine, whether your product or a service is capable of capturing a fixed percentage of the market.

Although market penetration strategy doesnt make any radical changes to the firmscorporate marketing strategy, it has an unbelievable potential to grow profitability and revenue.

Also, if a business plans to increase market penetration, its important to implement certain tactics & strategies that will increase your sales and decrease the competitors.

Though, before deciding to use market penetration strategy, its crucial to understand the advantages & disadvantages and risks it carries.

Price Adjustment One of the most frequently used market penetration strategy is price adjustment.

For instance, when a firm aims to increase sales, lowering prices is an effective tactic to attract potential customers.

Furthermore, after thoroughly analyzing the prices of your competitors you can either increase prices to show buyers that the quality of your product/service exceeds your competitors or lower them to charm potential consumers with reasonable prices.

In both cases, dont overdo it because it may seem suspicious (lowering prices too much may indicate to low quality and high prices might seem as a company that has only one objective-gain profit) and might make customers doubt your quality, fairness, and trustworthiness.

Increased Promotion Investing more time and strength in a promotion can dramatically increase market penetration.

For example, advertising is one of the most effective ways to increase brand awareness. Moreover, companies can create either short or long-term campaigns and structure them according to their budget and needs.

Note, that the campaign must be well-planned and analyzed because if your ad looks like XX% off on Y Product for a limited time can be easily countered by competitors with their own promotional campaigns and also retrieve their lost market share.

Distribution Channels One of the most constructive components of market penetration strategy is distribution channels. For example, if your organizations primary source of income is selling through retail outlets, it can open other channels like email marketing, telemarketing, etc.

Also, this way you can increase product sales, distribution channels, gain extra space on the market and overall profitability.

Improving Products The best practice of engaging and interacting with customers is to inform them that your product has changed to better.

Consumers mostly fall for the trick because the interest and curiosity that the improved product drives are irresistible. Buyers always want better and when the opportunity comes, they always shift towards the best.

So, periodically updating your product (always to better, never lower the quality) and changing its packaging will, most probably, benefit your business.

Increase Usage Market penetration can be increased through product consumption. For instance, if we use an effective marketing strategy that will increase product awareness in certain areas itll result in higher product consumption that will also increase market penetration.

Market penetration strategy takes advantage of low prices to increase product demand and increase market share.

While the demand is increasing, the organization saves money on product creation costs due to the greater volume of production.

Though, market penetration strategy doesnt work for all products and businesses, so some companies use different marketing strategies that seem to be more beneficial.

Fast Growth If your business andmarketing objectiveis to enlarge your consumer base, then market penetration is the most effective way to act.

When you offer better prices than your competitors, luring out their customers becomes easier that previously expected. Consequently, fast growth is heavily linked with low prices, and the more reasonable they are, the higher the impact will be.

Economic Advantages Definitely, its a responsible call, but market penetration can bring cost advantages if yourbusiness developmentgoes the way you predicted and hoped.

Low prices that guarantee customer base growth, means that you can increase the quantity of products ordered from the supplier, which will result in higher profits gained from low prices.

Furthermore, some companies risk more and first buy products in bulk (for discounts) and then implement the penetrationpricing strategy.

Combat Competitors One of the best parts of the market penetration strategy is combating your competitors.

Imagine, you have numerous competitors that are trying to evolve and progress, they are stealing customers from you that results in lowering your profits and revenue. So, considering that youre willing to stay as the market leader, the only choice you have is to outplay them.

For instance, low upfront prices will oblige your competitors to shift to alternative strategies with different price regulations. This way, your company will attract the lost consumers and itll put competitors on defense or the edge of leaving the market.

Unmet Production Costs Its not always possible to lower the product price as you will. Sometimes, products are expensive to create and small businesses tend to struggle while trying to produce enough to lower the production and product price. It becomes more complex when competing with large firms.

Under these circumstances, it would be wiser for small companies to focus on product packaging, marketing campaign, and public image because it has the potential to be as effective as low prices.

Missed Opportunities Brands that produce luxury products often make mistakes like marketing it as a cheap item.

Customers who love luxury products will definitely avoid the product which was marketed as a cheap luxury. So, if youre focused on luxury products keep in mind that lower prices might make it look disappointing.

Poor Company Image If your company hasseveral product lines(that includes a luxury line), then using market penetration strategy might be harmful.

For instance, if you implement a market penetration strategy for a single product, it may badly reflect on the rest of your product lines.

For a better understanding, if the large number of your customer base becomes familiar with the cheap product, its highly possible that everyone will forget that the firm also produces luxury items. So, the brands reputation as a luxury producer will shortly disappear.

Lowering Industry Prices Market penetration strategy can harm the entire organization.

If competitors sell similar products and one of them decides to lower prices, its natural that others will try to match them to create a balance and avoid consumer shifting.

Furthermore, the competitor that was first to lower prices, will have to continue doing the same in order to maintain its marketleadership. So, the results can be severe because competitors might end up selling their products at an extremely low price and generate almost no profit.

Lack of Results Market penetration strategy isnt always effective, especially when a company enters an industry where prices are already set low.

For example, when prices are already low, it means that consumers have already built trust towards an existing company, so entering the market and trying to beat the price of the competitor is an ineffective way to act.

A  new company should concentrate on gaining its worthy place in the industry, rather than trying to beat others low prices.

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Definition of Pricing Strategy

Discounting is an example of a pricing stategy.

carrots with price image by Jo Ann Koch from

[Different Types] Different Types of Pricing Strategy

[New Product Pricing Strategy] New Product Pricing Strategy

[Strategy Examples] Pricing Strategy Examples

[Types] Four Types of Pricing Objectives

Pricing strategy refers to method companies use to price their products or services. Almost all companies, large or small, base the price of their products and services on production, labor and advertising expenses and then add on a certain percentage so they can make a profit. There are several different pricing strategies, such as penetration pricing, price skimming, discount pricing, product life cycle pricing and even competitive pricing.

A small company that uses penetration pricing typically sets a low price for its product or service in hopes of building market share, which is the percentage of sales a company has in the market versus total sales. The primary objective of penetration pricing is to garner lots of customers with low prices and then use various marketing strategies to retain them. For example, a small Internet software distributor may set a low price for its products and subsequently email customers with additional software product offers every month. A small company will work hard to serve these customers to build brand loyalty among them.

Another type of pricing strategy is price skimming, in which a company sets its prices high to quickly recover expenditures for product production and advertising. The key objective of a price skimming strategy is to achieve a profit quickly. Companies often use price skimming when they lack financial resources to produce products in volume, according to the article Pricing Strategy at m. Instead, the company will use the quick spurts of cash to finance additional product production and advertising.

All products have a life span, called product life cycle. A product gradually progresses through different stages in the cycle: introduction, growth, maturity and decline stages. During the growth stage, when sales are booming, a small company usually will keep prices higher. For example, if the companys product is unique or of higher quality than competitive products, customers will likely pay the higher price. A company that prices its products high in the growth stage also may have a new technology that is in high demand.

There are times when a small company may have to lower its price to meet the prices of competitors. A competitive-based pricing strategy may be employed when there is little difference between products in an industry. For example, when people purchase paper plates or foam cups or a picnic, they often shop for the lowest price when there is minimal product differentiation. Consequently, a small paper company may need to price its products lower or lose potential sales.

Small companies also may use temporary discounts to increase sales. Temporary discount pricing strategies include coupons, cents-off sales, seasonal price reductions and even volume purchases. For example, a small clothing manufacturer may offer seasonal price reductions after the holidays to reduce product inventory. A volume discount may include a buy-two-get-one-free promotion.

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Suttle, Rick. Definition of Pricing Strategy.

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[Pricing Strategies] Advantages and Disadvantages of Pricing Strategies

[Importance] Importance of Pricing in Business

[Pricing Strategy] Factors Influencing Pricing Strategy

[Pricing] What Is Strategic Pricing?

[Discount] What Is Discount Pricing Strategy?

[Product Life Cycle Analysis] Product Life Cycle Analysis & Price Strategies

[Ten Promotional Strategies] Top Ten Promotional Strategies

[Benefits] What Are the Benefits of Skimming Pricing Strategy?

[Strategy] What is Premium Pricing Strategy?

[Pricing Tactics] Pricing Strategy & Pricing Tactics to Be Used for Your Product

[Strategy Analysis] Pricing Strategy Analysis


Communication channels through which news, entertainment,educationdata, or promotional messages are disseminated. Media includes everybroadcastingandnarrowcastingmedium such as newspapers, magazines, TV, radio, billboards,direct mailtelephone, fax, andinternet. Media is the plural of medium and can take a plural or singular verb, depending on the sense intended.

divided into three broad categories according to therecordingmethod: (1) Magnetic, such as diskettes, disks, tapes, (2) Optical, such asmicrofiche, and (3) Magneto-Optical, such as CDs and DVDs.

When I started my company I decided to use several types of

to advertise my new adventure, so I started with a newspaper ad and a radio commercial.

was biased towards oranges, so he assumed he wouldnt be able to get Funky Freddies Apple Fan Club on the air.

in my article because they have so much power they can mostly determine if someone is guilty or innocent.

Raise your hand if you remember when MySpace and Friendster were all the rage. Today, we use a Twitter, Facebook, LinkedIn, Instagram and more. It has to be at least nine years since I logged into MySpace. Although, I created my Facebook account in …

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A Statement Made by James Cramer While Starting

The dead-tree boys must be shaking in their boots. We now have the money we need to complete our vision of crushing the old line media behemoths. m co-founder James Cramer, in a May 1998 press release)

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Popular Advertising, Marketing, & Sales Terms

Definition of marketing strategy

a generalplanor set of plansdealingwithmarketingespeciallyover a long period

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Example sentences containing marketing strategy

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Email marketing

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Email marketingis the act of sending acommercial message, typically to a group of people, usingemail. In its broadest sense, every email sent to a potential or currentcustomercould be considered emailmarketing. It usually involves using email to sendadvertisements, request business, or solicit sales or donations, and is meant to buildloyalty, trust, orbrand awareness. Marketing emails can be sent to a purchased lead list or a current customer database. The term usually refers to sending email messages with the purpose of enhancing a merchants relationship with current or previous customers, encouraging customer loyalty and repeat business, acquiring new customers or convincing current customers to purchase something immediately, and sharing third-party ads.

Email marketing has evolved rapidly alongside the technological growth of the 21st century. Prior to this growth, when emails were novelties to the majority of customers, email marketing was not as effective. In 1978, Gary Thuerk ofDigital Equipment Corporation(DEC) sent out the firstmass email[1]to approximately 400 potential clients via theAdvanced Research Projects Agency Network(ARPANET). This email resulted in $13 million worth of sales in DEC products, and highlighted the potential of marketing through mass emails. However, as email marketing developed as an effective means of direct communication, users began blocking out content from emails with filters and blocking programs. In order to effectively communicate a message through email, marketers had to develop a way of pushing content through to the end user, without being cut out by automatic filters and spam removing software. This resulted in the birth of triggered marketing emails, which are sent to specific users based on their tracked online browsing patterns.

Historically, it has been difficult to measure the effectiveness of marketing campaigns becausetarget marketscannot be adequately defined. Email marketing carries the benefit of allowing marketers to identify returns on investment and measure and improve efficiency.[citation needed]Email marketing allows marketers to see feedback from users in real time, and to monitor how effective their campaign is in achieving market penetration, revealing a communication channels scope. At the same time, however, it also means that the more personal nature of certain advertising methods, such as television advertisements, cannot be captured.

Email marketing can be carried out through different types of emails:

Transactional emails are usually triggered based on a customers action with a company. To be qualified as transactional or relationship messages, these communications primary purpose must be to facilitate, complete, or confirm a commercial transaction that the recipient has previously agreed to enter into with the sender along with a few other narrow definitions of transactional messaging.[2]Triggered transactional messages include dropped basket messages, password reset emails, purchase or order confirmation emails, order status emails, reorder emails, and email receipts.

The primary purpose of a transactional email is to convey information regarding the action that triggered it. But, due to their high open rates (51.3% compared to 36.6% for email newsletters), transactional emails are an opportunity to introduce or extend the email relationship with customers or subscribers; to anticipate and answer questions; or to cross-sell or up-sell products or services.[3]

Many email newsletter software vendors offer transactional email support, which gives companies the ability to include promotional messages within the body of transactional emails. There are also software vendors that offer specialized transactional email marketing services, which include providing targeted and personalized transactional email messages and running specific marketing campaigns (such ascustomer referral programs).[citation needed]

Direct email involves sending an email solely to communicate a promotional message (for example, a special offer or a product catalog). Companies usually collect a list of customer or prospect email addresses to send direct promotional messages to, or they rent a list of email addresses from service companies. Safe mail marketing is also used.[citation needed]

Email marketing develops large amounts[vague]of traffic through smartphones and tablets. Marketers are researching ways to advertise to more users and to make them view advertising for longer. However, the rate of delivery is still relatively low due to better filtering-out of advertising and users having multiple email accounts for different purposes. Because emails are generated according to the tracked behavior of consumers, it is possible to send advertising which is based on the recipients behavior. Because of this, modern email marketing is perceived more often as a pull strategy rather than a push strategy.[citation needed]

There are both advantages and disadvantages to using email marketing in comparison to traditionaladvertising mail.

Email marketing is popular with companies for several reasons:

An exactreturn on investmentcan be tracked (track to basket) and has proven to be high

when done properly. Email marketing is often reported as second only tosearch marketingas the most effective online marketing tactic.

Email marketing is significantly cheaper and faster than traditional mail, mainly because of the high cost and time required in a traditional mail campaign for producing the artwork, printing, addressing, and mailing.

Businesses and organizations who send a high volume of emails can use an ESP (email service provider) to gather information about the behavior of the recipients. The insights provided by consumer response to email marketing help businesses and organizations understand and make use ofconsumer behavior.

Email provides a cost-effective method to test different marketing content, including visual, creative, marketing copy, and multimedia assets. The data gathered by testing in the email channel can then be used across all channels of marketing campaigns, both print and digital.

Advertisers can reach substantial numbers of email subscribers who have opted in (i.e., consented) to receive the email.

Almost half of AmericanInternetusers check or send email on a typical day,

with emails delivered between 1 am and 5 am local time outperforming those sent at other times in open and click rates.

Email is popular with digital marketers, rising an estimated 15% in 2009 to 292 million in the UK.

If compared to standard email, direct email marketing produces higher response rate and higher average order value fore-commercebusinesses.

As of mid-2016 email deliverability is still an issue for legitimate marketers. According to the report, legitimate email servers averaged a delivery rate of 73% in the U.S.; six percent were filtered as spam, and 22% were missing. This lags behind other countries: Australia delivers at 90%, Canada at 89%, Britain at 88%, France at 84%, Germany at 80% and Brazil at 79%.[10]

Additionally, consumers receive on average circa 90 emails per day.[11]

Companies considering the use of an email marketing program must make sure that their program does not violate spam laws such as the United States Controlling the Assault of Non-Solicited Pornography and Marketing Act (CAN-SPAM),[12]the European Privacy and Electronic Communications Regulations 2003, or theirInternet service provideracceptable use policy.

Opt-in emailadvertising, orpermission marketing, is a method of advertising via email whereby the recipient of the advertisement has consented to receive it. This method is one of several developed by marketers to eliminate the disadvantages of email marketing.[13]

Opt-in email marketing may evolve into a technology that uses ahandshake protocolbetween the sender and receiver.[13]This system is intended to eventually result in a high degree of satisfaction between consumers and marketers. If opt-in email advertising is used, the material that is emailed to consumers will be anticipated. It is assumed that the recipient wants to receive it, which makes it unlike unsolicited advertisements sent to the consumer. Ideally, opt-in email advertisements will be more personal and relevant to the consumer than untargeted advertisements.[citation needed]

A common example of permission marketing is a newsletter sent to an advertising firms customers. Such newsletters inform customers of upcoming events or promotions, or new products.[14]In this type of advertising, a company that wants to send a newsletter to their customers may ask them at the point of purchase if they would like to receive the newsletter.

With a foundation of opted-in contact information stored in theirdatabase, marketers can send out promotional materials automatically usingautorespondersknown asdrip marketing. They can also segment their promotions to specificmarket segments.[15]

The Australian Spam Act 2003 is enforced by theAustralian Communications and Media Authority, widely known as ACMA. The act defines the termunsolicited electronic messages, states how unsubscribe functions must work for commercial messages, and gives other key information. Fines range with 3 fines of AU$110,000 being issued toVirgin Blue Airlines(2011),Tiger Airways Holdings Limited(2012) and Cellar master Wines Pty Limited (2013).[16]

The Canada Anti-Spam Law (CASL) went into effect on July 1, 2014.[17]CASL requires an explicit or implicit opt-in from users, and the maximum fines for noncompliance areCA$1 million for individuals and $10 million for businesses.[18]

In 2002 theEuropean Union(EU) introduced theDirective on Privacy and Electronic Communications. Article 13 of the Directive prohibits the use of personal email addresses for marketing purposes. The Directive establishes the opt-in regime, where unsolicited emails may be sent only with prior agreement of the recipient; this does not apply to business email addresses.

The directive has since been incorporated into the laws of member states. In the UK it is covered under thePrivacy and Electronic Communications (EC Directive) Regulations 2003[19]and applies to all organizations that send out marketing by some form of electronic communication.

TheCAN-SPAM Act of 2003was passed by Congress as a direct response of the growing number of complaints over spam e-mails.[citation needed]Congress determined that the US government was showing an increased interest in the regulation of commercial electronic mail nationally, that those who send commercial e-mails should not mislead recipients over the source or content of them, and that all recipients of such emails have a right to decline them. The act authorizes a US $16,000 penalty per violation for spamming each individual recipient.[20]However, it does not ban spam emailing outright, but imposes laws on using deceptive marketing methods through headings which are materially false or misleading. In addition there are conditions which email marketers must meet in terms of their format, their content and labeling. As a result, many commercial email marketers within the United States utilize a service or special software to ensure compliance with the act. A variety of older systems exist that do not ensure compliance with the act. To comply with the acts regulation of commercial email, services also typically require users to authenticate their return address and include a valid physical address, provide a one-click unsubscribe feature, and prohibit importing lists of purchased addresses that may not have given valid permission.[citation needed]

In addition to satisfying legal requirements, email service providers (ESPs) began to help customers establish and manage their own email marketing campaigns. The service providers supply email templates and general best practices, as well as methods for handling subscriptions and cancellations automatically. Some ESPs will provide insight and assistance with deliverability issues for major email providers. They also provide statistics pertaining to the number of messages received and opened, and whether the recipients clicked on anylinkswithin the messages.

The CAN-SPAM Act was updated with some new regulations including a no-fee provision for opting out, further definition of sender, post office or private mail boxes count as a valid physical postal address and definition of person. These new provisions went into effect on July 7, 2008.[21][22]

CAUCE Coalition Against Unsolicited Commercial Email

Email spam- Unsolicited email marketing

PUBLIC LAW 108187DEC. 16, 2003 117 STAT. 2699


MECLABS, content: MarketingSherpa, design: Scott McDaniel, code: Steve Beger, (January 21, 2009).New Survey Data: Emails ROI Makes Tactic Key for Marketers in 2009.

Pew Internet & American Life Project,Tracking surveys, March 2000 March 2009

How Scheduling Affects Rates. Mailermailer.com (July 2012). Retrieved on July 28, 2013.

,2011-11-22 at theWayback Machine., September 2011

UK e-mail marketing predicted to rise 15%. MediaWeek.co.uk (13 October 2009)

Roberts, A. Email deliverability is on the decline: report,

Radicati, Sara.Email Statistics Report, 2014-2018

Fairhead, N. (2003) All hail the brave new world of permission marketing via email (

Dilworth, Dianna (2007).Ruths Chris Steak House sends sizzling e-mails for special occasions.

Australian Communications and Media Authority

. Australian Communications and Media Authority. Archived fromthe originalon February 29, 2016

Moorcraft, w could force idle brokers back to dark ages.

Canadas law on spam. Government of Canada

November 14, 2006, at theWayback Machine.. Opsi.gov.uk. Retrieved on July 28, 2013.

CAN-SPAM Act: A Compliance Guide for Business.

FTC Approves New Rule Provision Under The CAN-SPAM Act. FTC.gov. June 24, 2011.

16 CFR Part 316 Definitions and Implementation Under the CANSPAM Act; Final Rule

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