Final examiantion Essay Example | Topics and Well Written Essays - 1250 words

Final examiantion - Essay ExampleA failed selling candidature has the potential to sink a small business, whereas a large business can write it slay as an acceptable loss. The second biggest difference is in the form of staff. Large business have the highlife of many different de classifyments, with each manned by a number of individuals. In smaller business, the tutor of the firm may have to take on several key roles, thus limiting his or her ability to be hard-hitting in the market role. Finally, the last difference in marketing centers on creativity. Large business often have a lot more contacts in the industry, so their marketing campaigns are more standardisedly to be effective with the market. On the other hand, small businesses do not have the leverage to be creative and often have to design unimaginative yet effective marketing campaigns. 3) Marketing strategies that engage with the customer are the most effective for improving service choice for a small business. S mall businesses often do not have large marketing budgets, precisely that is no excuse for not trying to make a connection with the customer. The great thing well-nigh small businesses is than customers often gravitate towards them because of the increased face-to-face interaction. The product or service on go game does influence the marketing strategy to be used. Products or services that require technical expertise will often need to have extensive instruction manuals or allow the customer to inquire further. 4) loving media is a great dash for any business to make use of technology to better market itself. There are many benefits to a company being actively involved online, such as the low cost associated with it and also the potential to reach a wide market. Consumers prefer marketing that meets them at a place where they feel comfortable with, and many younger people spend hours on brotherly media sites each week. For a company looking to promote itself, the use of social media is a great way to do so because much of the work can be done by customers of the brand. For example, on Facebook get comments or likes on company status updates can attract new customers who are friends with people who like the brand. The potential for businesses to use social media is almost endless. 5) The term customer lifetime nourish (CLV) refers to the monetary value that a company can gain from a particular customer over the course of their lifetime. mensuration CLV can be a difficult procedure over many years receivable to inflation and changing customer spending power. Comparing data over many decades presents its own challenges because at that place is no one way to correlate the data over time periods. Firms use CLV in order to adjust if it is worth it to spend heavily on consumer marketing campaigns. If there is very elflike to be gained from capturing a customer, then it would not make sense to pursue that customer through marketing campaigns. Instead of tr eating customers like people, the CLV thinks of them as assets and determines debits and credits on both sides of the equation. Despite this, it is an important part of any business because of the need to weigh up the costs and benefits associated with maintaining a relationship with a hardcore customer. 6) 7) When determining how a product reaches a customer, it is important to consider the effectiveness of it and also the costs involved. Customers hold dear a timely delivery once they have ordered a product, and their reaction to it will determine whether they will be a returning customer or not. A