SALES & MARKETING BRIAN Flashcards
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What are the main questions you ask in Business abt competition?
Who sets your pricesWho determines your market sharesWho determines your profit levelsWho determines how fast you grow
Who determines the 3 commons factors in Business and name them?
1Levels of sales 2 Prices you charge 3 How much money you make
What do you need to think about competitors?
Who are they, what do they do, why do people buy from them and how do I get them to buy from me and what would be their reaction if I get their customers.No strategy can be made without thinking of competition/ independent of competition.
What are the 4 principles of marketing strategy?
Spezilisation(Product and service)Differentiation (How it’s that you are different and better than your competitors, you tell me why should I buy from while you are giving me the best quality for the lowest price.HOW AND WHY AND AHERE YOU ARE DIFFERENT? SegmentationWho are the specific customers in the market who value my area of differentiation and who will pay more for my area of specilisation than any body else.ConcentrationOnce you have determined for your very best market segment for what you do really well, focus all your energy on them.
Area of specialiasation?
This is the product service customers market and area of technology where you focus all your efforts.McDonald:customers who wants to eat quickly, they want cleanliness, value, price, efficiency & pleasant around them. They will do everything to meet true wants, needs and motivations of them.
Differentiation 1)
Your competitive advantage(If you don’t Identify and create your competitive advantage and convey it to your customers the damn will break!
2 Area of excellency
What you do better than anyone else? (Story abt quality service)Tell the story Steve job look at the Blackberry and other phones and say he wants a phone with one button)Activate, put in your coat and Bam… you hv all your Apps and ready to go..Tell the Blackberry story with apps and congress.Apps store, load one at a time and you can float the whole world, Stuff that’s there for apps, just the free apps blow your mind Much less the paid appsThen come with Apple 2 with video; my god; What’s yours? if you don’t have you can’t compete, but if you have you sell 50 million sets. If you have an area of excellence people want, value and pay for it.
3 USP
One thing that is Unique; no body else offers; What is it? When people finally identify it, they go from struggling to living in a big home driving a Cadillac or merz, If it’s what people want, value and pay for it they go for it. When Apple brought IPad, I mean, this was an items unique in literal sense: people never heard about it before, lt‚Äòs like an iphone and bigger, nothing else. Ipad story;people paid $500, these are People with flip flop, Sandles and tractor caps. They sold 25 millionThey changed the book retail industryThe industry like a ship that turned over went from hard cover to eBooks because of iPads. Borders bankrupt.. with the advent of just one technologyWhat is your USP?
What’s your unique selling proposition as a real estate seller
Just imagine, What’s it that you offer and no one else? if you are offering that everyone else is offering, just say you are a realtor. What’s your USP as a real estate agent if every other real estate agent within 100 miles has thesame unlimited access to MLS (Multiple Listing Service)? Yourself, what’s the difference? Personality, preparation, punctuality, friendliness, follow-up, notes, phone calls, contacts. They make a supreme efforts to build a high quality relationship with yeh home seller or buyer so that person will never go anywhere else
4 where are are you and could be the best?
You are the best lady gaga..
Segmentation
Who are those customers who most appreciate your area of superiority specilisation and differentiation? What are their demographic what are their psychographics.
Demographicsif you change demographics of your customers what lease would be changed?
You change your total marketing approach, your selling approach, packaging approach, your product, your people and everything else.
Psychographic
One reason why people buy One major fear that hold them backOne major doubt? Find and eleviate Goal not achieved is a problem unsolved -PTBS Pain not taken away is a PTBS, Need unsatisfied is a PTBS What problem do you solve when people buy your products. What is it you do for your customer? Highway family food: hungry & Turn Here” at the next exit
Concentration
Where your focus time money and resources?
