In business and especially in market research, market share is the percentage of a company's or product's share of the total market volume at a given point in time. The compound market share is made up of the determinative word "market" for the place of exchange of goods and the root word "share" for the subset of a total quantity. This market share is essential for a company's importance as a … [Read more...]
Affiliate Marketing Condition/Commission Models
In our earlier article, we have informed that affiliate systems are internet-based sales systems in which a merchant or advertiser usually offers commissions to its affiliates or publishers. The product provider provides advertising material that the affiliate uses on its websites or can use via other channels such as keyword advertising or email marketing. With these below mentioned condition … [Read more...]
How Affiliate Marketing Works
Affiliate systems are internet-based sales systems in which a merchant or advertiser usually offers commissions to its affiliates or publishers. The product provider provides advertising material that the affiliate uses on its websites or can use via other channels such as keyword advertising or email marketing. Affiliate systems are based on the principle of referral commission. The technical … [Read more...]
Sub-Areas of Direct Marketing
In our earlier article, we have mentioned that within marketing market communication, direct marketing is any advertising measure that contains a direct approach to the potential customer with an invitation to respond. The next stage in marketing is direct sales. Direct marketing promotions can take a variety of forms. These are divided into one-step or multi-stage actions. Direct … [Read more...]
Strengths and Weakness of Direct Marketing
Within marketing market communication, direct marketing or direct response marketing is any advertising measure that contains a direct approach to the potential customer with an invitation to respond. The next stage in marketing is direct sales. Direct marketing promotions can take a variety of forms. These are divided into one-step or multi-stage actions. The number of customer contacts made is … [Read more...]
What is Personal Sales
Personal sales is an instrument of communication policy in marketing (along with advertising, direct marketing, public relations and sales promotion). The primary goal of the sales pitch between a seller and a potential or current customer (buyer) is to conclude a contract for a service offered or requested. In addition, Personal Sales has the following tasks: Acquisition (acquisition of new … [Read more...]
What is Refusal to Consume
Refusal to consume refers to the behavior of consciously avoiding the use of available goods. It ranges from frugality to asceticism. It can cover the whole lifestyle, but it can also be limited to certain goods (food, clothing, home comfort, etc.). The refusal to consume is the most important element of a simple life. Accordingly, there are personal, social, religious, ethical, ecological, … [Read more...]
Market Segmentation in Brief
In business administration and marketing, market segmentation is the division of a market into market segments according to certain criteria as well as the market cultivation of these market segments. Market segmentation is a sub-area of segmentation in microeconomics. Its purpose is to offer the right products or services to the right customers. Therefore, the market segmentation is carried out … [Read more...]
Manifestations of Referral Marketing
As stated in the previous article, referral marketing is an instrument of new customer acquisition, which is carried out through word of mouth, reviews and references from customers. Personal recommendations are recommendations directly in the circle of friends and in the social environment of the consumers. The greater the trust in the person, the more effective these recommendations are. … [Read more...]
What is Referral Marketing
Referral marketing is an instrument of new customer acquisition, which is carried out through word of mouth, reviews and references from customers. As a rule, the prerequisite is that the customer is satisfied with the provider's services. In this respect, adequate customer care and loyalty marketing are upstream of referral marketing. In addition to a company's customers, other market … [Read more...]
What Is a Sales Funnel?
The sales or conversion funnel is a metaphor used in marketing or business administration to refer to the phases of the sale. It is the process by which potential sales opportunities are qualified and selected to turn them into real opportunities that end up in real transactions. The concept is represented as a graphical tool that shows the business opportunities (and their amounts) at each step … [Read more...]