The Retailing Strategy of the Business World

The business world is such a complicated place for those who are not aware with its basic principles. Although it is one of the most obvious professions of the world, only few people understand and appreciate its importance to the economy. Business is not just about buying and at the same time selling goods to consumers. It often connotes the idea of providing the needs of your customers in exchange for a specific amount. Moreover it is the legal and appropriate way of using your money.

Almost all humans are considered as prospect buyers or customers, however not all individuals are capable to establish his or her own business company. If you are planning to create your own company you need to consider several things first before setting up your mind. You should not forget that the future of you company depends on your determination and faith in your work.

One of the most important tools in creating your own business is your interest. According to psychologists it is an inborn skill or talent to excel in business. It also proves that not all people are capable of entering the business world. It is the concrete reason why several individuals became successful in life even though they were not able to graduate and earn a business degree. Psychologists often believe that the spirit of being an entrepreneur is innate can be developed through the interaction of the environment.

Determination is also part of the necessary attitudes that must possess if you really want to become successful. You must learn remain strong in time of crisis and trails. It doesn’t matter also if you begin your business in small basis first such as home base business, rather it will greatly depend on how good you are in enhancing your business.

Business strategies are also very important if you really want to experience improvement. It suggests that you need to use different methods to attract and entice your prospect customers. It could be in form or product commercials or packaging of your products. Meanwhile there is a very relevant method used by small scaled businessmen which is already proven to be effective when it comes to marketing.

Retailing is one of the oldest and finest types of business strategy. This type of method is often used to influence their customers with the idea that they can now already purchase expensive goods in lower rates because it can be bought in small amounts. Consumers are then convinced with the idea that they can save and control their budget when they buy in retailing stores because it is much lower compared to its regular amount.

Although the quantity of the item is compromised once it is sold by retailers, consumers are still eager to buy goods because they believe that it is the best way for them to save their money. However consumers are not aware of the idea that they are paying more once they entertain the idea of retailing. In this type of method, retailers are the individuals who can gain much benefit.

How To Apply The ‘Marketing Mix’ In The Online Business World

Marketing Mix History

In 1960 (the year I was born) Jerome McCarthy broke down Neil Borden’s famous phrase into what later became known as the four P’s of marketing:
1. Product
2. Price
3. Place
4. Promotion

At that time it might have taken semesters of study to fully grasp the fundamentals of several different business operations responsible for the ultimate outcome of producing and selling.

History also shows how specialized each business operation has become and how a single operation now contains scores of specialized career fields.

The Four P’s In The New World

Fast forward 50 years and we find entrepreneurs with unique business ideas who are able to outline an entire online marketing funnel during a single consulting session with an internet marketer.

Whether the product is a physical commodity, an idea or a service every aspect of the marketing mix is contained within the ‘Online Business World.’

The product can be comparably priced with similar items found on the internet. It is most certainly promoted and sold online either via E-commerce or contracted service.

Applying The Marketing Mix Online

The breakdown is also quick and easy after a few specific questions are answered regarding the product.
• How popular is the product within a well defined niche? Is the competition doing a good job or have they left enough room to leverage the benefits you intend to highlight?
• Is there any clear representation of what the price point should be? Is there disparity between low cost and high quality?
• Since we’re focused on selling online, is anything similar available offline? Other than convenience, why is the online option more enticing?
• Can this product benefit best from visual, audio, social, viral, casual, comparative or descriptive promotion?

Let’s face it, DRTV (direct response television) is more effective online than on certain allotted time slots on obscure cable channels.
Every imaginable medium ever invented for promotion is part of the online business world and available to anyone with a cell phone.

Where Does Your Business Fit In The Mix?

If you run a local business, a home business or you’re ready to start a business there are many ways to educate yourself and research exactly how to apply the marketing mix to the online business world.

More fortune 50 companies are expanding their businesses by entering the virtual world completely amazed at how fast everything can be implemented. They have the advantage of hiring someone who knows enough about web design or internet marketing to take advantage of the business structure currently in place.

It’s like hiring a tour guide to show you how your business can grow on the internet.

Go Mobile Or Go Home – How Technology Has Changed The Business World

In a time when a company like Apple can sell 9 million iPhones in three days or less, you know our world has gone completely mobile and perhaps more than a little mad in the process. There’s no denying the obvious fact we want instant images, videos, messages, tweets, conversations… not yesterday but immediately, this very instant. No more waiting, no more holds, no more get back to you tomorrow… we want everything done today, this very moment.

We also want to be connected to the web to keep us informed of what’s happening on the world stage and in our own neighborhoods. We want the latest terror threat, the latest celebrity twerk, the latest viral video and the latest gossip from Aunt Sally. Instant communications available anywhere and at any time.

We want/demand these instant communications in our personal lives, and now we are also demanding them in the business world.

We want to be totally connected at all times, not only to our friends and family, but to our business colleagues, clients and customers. We demand a work force that’s totally in sync, completely connected and working on the same page. A sales force which can be flexible, dynamic and mobile.

In order to have this mobility, technology has given us all the gadgets we need – from smartphones to netbooks, from laptops to iPads to PDAs of every description. More importantly, technology has also given us the services we need to do business in this mobile world. We now have online fax providers, remote data storage, virtual PBX office phone systems… to make all your business transactions portable and instant.

Any modern company or business can now use these online providers or services to completely connect/sync all their business transactions, sales, communications to their computers and the web. Giving the recipient total access, instant communications and complete mobility, which could not be imagined, just a few years ago.

These new technologies have simply changed how business is now done.

Lets take a few concrete examples and apply them to the business environment. First, online fax or faxing has been a major game changer for many companies. Now instead of being directly tied to your traditional fax machine in the office, one can use the Internet and your email system to receive/send all your faxes. This process is easier, more secure and much more cheaper than conventional faxing. Plus, since we now have smartphones, netbooks and laptops, these services are completely portable and accessible anywhere, anytime. There is even an app which allows one to sign or initial an important document/fax directly on your smartphone.

Another game changer has been the introduction of virtual phone and PBX (Private Branch Exchange) systems for your office or company. These online PBX systems can give any company a quick cheaper alternative to costly landline systems. One which comes with all the bells and whistles of a PBX system… call forwarding, instant messaging, call parking, online fax, intercom, voicemail… and in many instances, you can have a virtual receptionist to handle all your messages.

Needless to say, all these services make your company much more mobile and accessible, regardless of the location. It also makes your company reachable at all hours of the day, 365 days of the year. In a broader way, it also seamlessly ties your company or business to all your computers and the Internet. Most successful businesses these days have a solid presence on the web for doing sales, customer support or for promotion of the company brand.

These days, it seems like everything is going mobile. Your company must have a presence in this mobile environment if it wants to be competitive. Mobile advertising or promotion is said to be the next big thing… just imagine capturing a customer’s attention on their smartphone with your latest sale while they’re at the mall, steps away from your store and ready to buy. Or just imagine, having the latest company memo or client communication instantly directed to all your workers in the appropriate department or division.

These are just a few examples of how going mobile can make any company more efficient and much more competitive. Those progressive company owners who quickly realize going mobile is the wave of the future, are the ones who will truly prosper in the coming years. Many business operators have discovered this new reality and have acted accordingly. They are also the ones who won’t need convincing, they won’t need anyone telling them any time soon you simply have to go mobile or go home.