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Community Learning Videos
- posted by: Sharon Ramsey
By Sharon Ramsey
Video Link: https://youtu.be/bE0t6XaKuKE
Competitive analysis is pivotal for a business organisation to develop strategies for survival in today’s highly competitive environment. The analysis reveals competitors’ strengths and weaknesses and enables the organisation to design practices to perform better than them.
Mr. Ravi through this lecture focuses on the necessity of creating a competitive marketing analysis. It's not necessary that a product with high price would generate more profit neither its necessary that a product with too low price would sell more. Thereby the essential task for the business is to do a comparative analysis of the price of the product that it aims to sell in the market with the other producers that are selling similar products. Hence, creating opportunities for themselves to give the best alternatives to the customer.
Businesses all around the world want to grow and become pioneers in their industry. All these businesses have goals and objectives they want to achieve but these objectives remain objectives unless good market research is implemented. The aim of understanding where a business should position itself in the market can be raised through the careful study of the price, strengths and weaknesses of the competitors. Doing this, the business gets to the deep clarity of gaps that they can capitalize upon and establish a platform for the customers to buy better products and services.
The profound knowledge about the market helps the organisation’s ability to cater to its client the best services and project itself as a profitable business. Analysing the performance of your own marketing campaigns and understanding why clients are seeking alternatives will help to improve and adopt best practices to create a competitive edge in the market.
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Hits: 874
- posted by: Sharon Ramsey
By Sharon Ramsey
Video Link: https://youtu.be/fc-RsEKjP38
You don’t need the fortune to market your business and its products and services. This video provides learning that after making new clients, which tools and techniques to undertake that can elicit a pool of data to generate business. Deploying multiple channels like cold/warm calls, email marketing, campaigns, referrals can drive huge traffic to your website. Mr. Ravi Kumar suggests rendezvous with the business community and people in exhibitions like Auto Expo, SMEs expo, book fair, trade fair, FICCI, etc. induces the opportunity to collect a profile of array of experts and develop relationships with them. He mentions organizing events and participation in them is as important to build a network. He includes organizations like the Local Chamber of Commerce as a scope to gather a directory of members and grow a network with them.
It's imperative, he focuses on engaging with potential clients and understand their pulse and plans foremostly and then build trust and comfort which can deliver a good impression of your services. 2 businesses integrate well when they know about each others USP and how it will help in the growth of their businesses. However unnecessary spam and unwanted email marketing can become intruding on your prospects and hamper your premature relationship with them. It's always necessary to ask for permission and then send emails to them. Data collection of prospective clients is paramount of any business thereby thorough efforts should be made to make the data bank productive so that it gives enough room for analysis and develop necessary strategies for business.
Visit Modlingua Community Learning channel on YouTube: https://www.youtube.com/modlingua Make sure you subscribe to the channel and press the bell button so that you get notified each time Modlingua puts a video on its channel.
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Hits: 838
