Understanding Why People Buy - GB46
The social sciences have given marketing researchers
the basics for understanding why people buy certain products
and services as opposed to others. Psychologists and sociologists
have probed motives, wants, perceptions, attitudes, how people
learn and forget, and individual needs both learned and innate.
However, most will agree that the key to understanding why
people buy, and for that matter all human behavior, it to
first understand what they believe in.
Spying on the Competition - GB47
Every business has competition. Even the American Football
League has to compete with basketball, hockey and other forms
of entertainment. Every business also wants to beat the competition,
steal its market share or perhaps even drive it into bankruptcy.
But when starting out, realize that competition isn't necessarily
a bad thing. It shows there's already some demand for the
goods or services you intend to offer. In fact, no competition
is usually something that should be treated with caution not
Pinpointing Target Markets with Unmet
Needs - GB48
Mass marketing is a little like firing a shotgun into a flock
of geese and hoping to hit a few. Although having the potential
to be extremely profitable, it is often ineffective in today's
highly sophisticated and segmented markets, and what's even
worse, can easily set you back a small fortune.
Uncovering New Consumer Trends & Demands
Communication satellites will become the primary symbol
of economic power, not nuclear missiles. Telephone companies
will increase their range of computerized telephone services
as well as easy and cheap access to all parts of the world.
In many of the undeveloped poorer countries, cellular phones
will be used before telephone lines.
Building a List of Potential Customers
Generally speaking, whenever a person buys goods or services
from you; makes an inquiry; visits your business and registers
their presence; writes in to request a catalog; samples a
promotion piece; visits your trade show exhibit and leaves
a business card; or joins an organization you belong to -
these are all opportunities for you to add their name to your
mailing list for future direct mail solicitation or promotion.
Developing a Customer Service Plan -
Imagine, you own a flower shop called Flora's Floral Boutique.
One fine day, your bell tinkles, and in walks a tall elegant
woman in her mid-thirties. What do you suppose she might be
thinking and feeling when she first looks around, after she
talks to you or one of your staff, or after she buys an expensive
crystal vase and on her way out trips over your welcome mat
and smashes it into a thousand pieces? A customer service
policy attempts to provide answers or rather guidelines to
these and other difficult questions.
Establishing a Pricing Policy - GB52
An effective pricing policy can be determined only after
you, as the owner-manager of your business, decide specifically
what your business is, and how the objectives of your pricing
policy can further support and define your identity. Pricing
objectives should be closely tied in with your overall business
and marketing goals and as a result take into consideration
what impact your prices will have on your sales volume, sales
revenue, market share, competitive position, company image,
Establishing a Credit Policy - GB53
The advantage of extending trade credit is that
it will likely attract additional customers and increase sales
volume. In fact, most manufacturers and wholesalers find it
imperative to offer credit terms to their customers, simply
in order to survive. However, although selling on credit can
boost sales, it can also increase direct and indirect costs,
which must be weighed against its potential benefits.
Creating a Winning Promotional Plan -
Advertising agencies use an insertion order to submit a request
to run, cancel or modify a particular ad in a specific newspaper
or magazine. When you request an ad insertion in a magazine
or newspaper, and you don't have an advertising agency working
for you, it is recommended that you also use an insertion
Choosing an Advertising Design Theme - GB55
An Advertorial or News Ad announces a new product, something
new about an existing product, or states a position on a social,
business or consumer issue. Stated positions are backed with
engaging evidence, an analysis, and most importantly, a product
solution. Typically, this type of ad uses a newspaper type
headline and a newspaper editorial format. Its headline focuses
on recent changes or developments, especially ones that suggest
profit or self-gain to its readers. This ad format is especially
useful in helping you reach a segment of the population that
may share attitudes or ideologies similar to your own.
Selecting Advertising Media - GB56
Giveaway items, such as pencils, pens, buttons, calendars
and refrigerator magnets, are known in the advertising trade
as "specialty advertising." Using specialty advertising, you
import your name on these and other similar items and give
them away - or sometimes sell them at very low cost - in order
that potential customers and clients will: a) notice your
name enough times to build "top-of-the mind" awareness (so
when they need to eat, for instance, they think of your restaurant
first); and b) appreciate your goodwill thus becoming more
predisposed to return the favor by giving them your business.
Writing & Editing Like a Pro - GB57
Don't bore your reader. You can't bore people into buying
your products or services. If your ad is boring than it probably
means, your company and your products are also boring.
Creating "Eye Catching" Graphics - GB58
The major prerequisite for taking a decent business photo
is decent equipment, not an uncanny eye for detail or beauty.
For starters, you will need a camera, a hand held exposure
meter, an assortment of lenses, assorted lighting equipment,
a long distance triggering mechanism, slave trigger units,
and a rock solid tripod.
Using Words that Sell - GB59
The word "you" is the most important word in the English
language, as far as writing advertising copy is concerned.
People respond to this word because they like talking about
themselves and being talked about in a positive manner.
Mastering Ad Design & Layout - GB60
Unity can be created by having one central focus or focal
point where the eye has a tendency to concentrate on. This
is usually a visual, but can also be a headline. You can also
create unity by making sure graphics support body copy, headlines
support body copy, subheads support body copy, and captions
support graphics. Keep in mind that all elements in an ad
are part of the visual language, all contribute to the whole
- all have equal value.
Collecting Product Info to Help Write
& Design Ads - GB61
Getting in the proper frame of mind for copywriting is more
a combination of preparation and organization rather than
following specific rules and strategies. However, if you believe
in your own creativity and are not afraid of subjecting your
work to constant outside criticism, than you will find that
copywriting becomes less intimidating and more of a chance
to let your imagination run wild.
Using ODAC - The "Advertiser's Soulmate"
Advertising books are filled with formulas all designed to
unleash a persons creative and intellectual powers. Authors
have given serious consideration to their choice of words,
ideas behind their words, and all the applications of their
formulas in the real world, and each should be given credit
for attempting the impossible. However, some formulas are
more useful than others. This guidebook is dedicated to teaching
you the greatest advertising formula of all time. Brace yourself.
Creating Classifieds, Space Ads, Brochures
& Catalogs - GB63
Dollar for dollar, classified advertising generates more
profit than any other kind of space advertising. In fact,
considering that classifieds are relatively inexpensive to
run and can be spread out to other newspapers - there are
more than 10,000 newspapers in the U.S. alone - they should
be the first choice for any mail-order operator, consultant
or the like looking to drum up business sales and leads.
Creating Newsletters & Direct Mail Promotions
To succeed, a newsletter must not contain too much advertising
material. Rather it must have enough useful information to
persuade the reader to read the entire newsletter. A newsletter
must also never seem like a brochure or ad. Rather, people
must look forward to reading them for content not to look
at their pictures.
Creating Award-Winning Radio & TV Ads - GB65
Let the viewer hear the car engine roaring, the pancakes
frying, the airplane whooshing, the popcorn popping, the club
soda fizzing, the ice cubes plopping into a cold, tall drink.
Use sound effects to create the right mood and setting. Many
people find the sound of sizzling bacon more appetizing than
how it actually looks.
Getting Free Publicity - GB66
The body of a news release begins about one-third of the
way down the page allowing some white space for comments,
or notes from the editor. The body of a news release is double-spaced
- never single-space a news release. Paragraphs are usually
indented with normal spacing between graphs. Often the city
of origin of the news release begins the copy.
Designing Packaging - GB67
Putting a widget in a box, covering the box with a few pictures
and labels, and calling it packaging, is DANGEROUS. Packaging
is much more than that. Packaging has protective and distributive
functions. It makes product contents convenient to use, safe
to use and easy to store. It also performs an integral role
in all advertising, promotion, and marketing efforts, and
more than any other single factor is responsible for creating
a company's image. In fact, some people prefer to think of
packaging as an exact science.
Preparing Advertising Records - GB68
An advertising key is a special code, number or word added
to an ad, coupon or company address, to help companies keep
track of their advertising effectiveness and response rates.
Every time the key is spotted, it is noted and the promotional
media that generated the order is traced. Mail order and direct
marketing companies especially, have mastered the art of using
Testing Promotions and Analyzing Results
If your promotion can be sold via a classified ad or a display
ad, test both mediums, as one may prove to be substantially
more profitable than the other. Classified ads cost less,
but produce less. Display ads cost more, but may also produce
more, pulling in forty times more responses than a classified
Conducting Surveys - GB70
The preparation of a useful survey or questionnaire requires
clear thinking and planning. In particular, consideration
should be given to the wording and sequencing of questions,
how easily results can be tabulated, the validity of the questions
themselves, and so forth.
Opening Distribution Channels - GB71
Trading houses specialize in exporting, importing, and trading
goods and services produced by others. They provide a wide
range of specialized services to businesses who wish to export
(for a fee or commission of course). Exporters can work out
arrangements customized to their particular needs, from having
the trading house manage all export activities to using the
trading house solely to identify customers or advise on exporting
Fostering Repeat Business - GB72
Always plan what you are going to sell to your customers
next. Never send a package to a customer without including
an order form for reorders and sales literature on other products
you think they might need.
Creating New Market Opportunities - GB73
Entrepreneurs must learn to be like bloodhounds. Except instead
of sniffing out escaped convicts, lost children, or perhaps
drugs in the handbag of a little old lady from Pasadena, they
must learn how to sniff out the unmet needs of the people
they wish to serve. To win new customers, ask the golden question:
"What's the unmet want and how can we meet this unmet want
before anybody else does?"
Innovating Your Promotional Plan - GB74
Community participation and visibility is a good way of building
your company image. Start by joining groups such as the local
Chamber of Commerce or service clubs. By doing this, two things
are accomplished. Firstly, you are promoting your store by
gaining recognition as a community orientated merchandiser
or service provider and, secondly, you are increasing your
credibility in the eyes of the consumer (having a Chamber
of Commerce logo stamped on your letterhead will easily pay
for the cost of membership).
Licensing Successful Products & Services - GB75
If you have a special technical process, service or product,
and limited marketing and selling skills, you may be able
to find an established company in other markets who would
be willing to pay you a royalty for the rights to use your
process or service or sell your product.
Franchising Your Operations - GB76
To set-up a franchised business, a license must be granted
by your company, the franchiser, to an individual or firm,
the franchisee, to own and operate a business similar to yours
under certain terms and conditions as outlined by the license.
The license may give the rights for the franchisee to use
your name, tradenames, trademarks, service marks and/or advertising
symbols, as well as your service, promotion, selling, distribution,
and display methods.
Network Marketing - GB77
Network marketing distributors are often very zealous and
hard working. On one extreme independent distributors are
lazy part-time workers who do little to promote you company.
However, on the other extreme they have proven to be very
zealous working much harder than any salaried employee. They
will often have more drive, enthusiasms, and spirit than will
regular, full-time employees.