An opinion leader is a person in a reference group who, because of special skills, knowledge, personality, or other characteristics, influences others in that group. They are informal but powerful communicators. Marketers seek to identify and reach opinion leaders...
Pleasing Products are products that provide immediate gratification to the consumer but may be harmful to the consumer in the long term (e.g., cigarettes, junk food, fast fashion). These products have high sales potential due to strong short-term desire. The principle...
The political environment encompasses the laws, government agencies, and pressure groups that influence and constrain various organizations and individuals in a society. It is a key element of the macroenvironment. The main goals of the political environment are to...
Optional Product Pricing is a strategy that sets prices for options or accessory products that are offered alongside a core product. In **Optional Product Pricing**, a company must decide which items to include in the core price and which to offer as options. Often,...
The Outside Sales Force consists of sales professionals who travel to visit customers on-site (in their offices, homes, or facilities). They are the primary contact between the company and the customer. Unlike internal sales staff, outside sales staff are responsible...
Positioning is a set of actions that aim to position a market offering in a clear, distinctive, and desirable place in the minds of target consumers relative to competing products. This is the third and final step in strategic marketing (STP). Successful positioning...
A positioning statement is a statement that summarizes the company's and brand's positioning in a concise and clear manner. It serves as an internal guide for developing the marketing mix. A standard statement looks like this: "For (target segment and need), our...
Packaging encompasses the activities of designing and manufacturing the package, box, or container for a product. It is the customer's first "encounter" with the product and is a powerful marketing tool. The main functions of packaging are: 1) Contain and protect the...
Preapproach is the second step in the sales process that occurs after prospecting. It involves the salesperson learning as much as possible about the prospect (their organization, needs, characteristics, etc.) before making a sales call. The goal of preapproach is to...