Where Does Advertising Fit Into the Marketing Mix?

Many people get confused about the role of advertising in the marketing mix so here’s a simple view of where it fits in.

In the traditional marketing model, we talk about the 4 P’s

o Product

o Pricing

o Place

o Promotion

The last section – Promotion is what we mean when we say you are “doing your marketing”. It’s your communications or your actual marketing activities.

But first, let’s get clear about the PURPOSE of marketing and why you want to get good at it.

“The PURPOSE of marketing or it’s biggest task is to

persuade prospects to visit you online or offline so you

can present your offer. Done well they come waving their

credit card and ready to buy so there’s no need for hard sell.”

Whenever and wherever you get in front of your potential market is your marketing opportunity – you are communicating or getting your message across.

You could say this started as far back as Babylon when the Town Crier was the only delivery method! They went around town shouting out to people to go to the marketplace and you went to the marketplace with your goods to “present your offer”.

With the invention of print and other technologies you now have a smorgasbord of delivery methods or media to reach people such as

o Print – newspapers, magazines, catalogues, newsletters

o Phone, mail, fax

o Radio & TV,

o Internet – through websites, blogs, social networking sites, email, video & Audio podcasts

o Teleseminars & webinars

o Mobile media – Blackberrys and mobile or cell phones

o And lets not forget in person public speaking and networking

Now that range adds a level of complexity. But choice is good and you don’t have to use all of these but they are available to you.

In any event you’ll either be speaking or writing. Simply narrow down what makes sense for you and your business and use your strengths to work out a plan.

JUST remember the marketing principles remain the same no matter the medium – so the PURPOSE of your marketing is still the same. To persuade prospects to visit you online or offline so you can present your offer.

So where does advertising fit into this?

Advertising is simply a subset of your marketing activities it’s the SALES function when you make the sales pitch or “present your offer”. This could be verbal or written in all the same media you use for your marketing communications. What adds to the confusion is sometimes big companies use image based ads for awareness so the “sales pitch” isn’t obvious.

But the primary purpose of advertising is to SELL.

So you create ads in one form or another and get them in front of your audience.

Small businesses can’t afford to waste money on image advertising that is designed for the masses to promote a well known brand. It simply isn’t designed to sell, NOW.

What I do and recommend is Direct Marketing which is based on one-on-one relationships and uses proven direct response advertising techniques instead of mass advertising.

The purpose of a direct response advertisement is to get a response, NOW! Which means these ads actually ask the prospect to DO something.

Whether you’re building a list, selling a product or service, an appointment or even something you are giving away – you still need to “sell” it to your prospect. And ask them to take the action you want them to take to move them through the sales process.

In a nutshell, advertising is a subset of marketing and direct response marketing and advertising is the champion for small business.

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Differences Between Products And Services

What are some of the main differences between products and services? And when are these relevant?

Tangibility versus Intangibility

Products are tangible. You can buy pork as a tangible product. You buy it, you ship it and sell it. In the same way as you buy stamps, cigarettes and cars.

Financial service companies however, make it possible to exchange pork bellies Futures, on the Chicago Mercantile Exchange (CME). A future is (not the most simple example of) a service with which you can hedge your risk. In this last case, most of the people trading on the CME will never see or smell the pork bellies.

The ownership between products and services is different. A stock could be called a financial product that you own. You can place a stock order which might result in a transaction later on. Your bank services a depot fee for saving you a lot of work. You cannot own a service.

Where the product is much more standardized, the service is tailor-made. Companies differentiate in offering products and services, but the variations between similar products of different producers are less prominent than the variations between services.

You can count products in the same way as you can count your money (or have your bank service you this information). A service is not countable, but is “leveled;” better than the best service is not possible. There is a limit in what a service can offer.

A product is produced by a manufacturing process. A service is offered by the utility element of companies; you subscribe to a service in the same way as you subscribe to your gas and electricity supplier.

And this brings us to the essential of these differences; changing from one (product approach) to the other (service offering) is very complex, because of the last mentioned differences. Not only the process is different but the style change you need to support this change… Good Luck.

© 2006 Hans Bool

Insurance Auto Auctions – Get Great Deals on Salvaged Cars and Trucks

Insurance auto auctions are a great way to get a great deal on salvaged cars and trucks. In fact, the company Insurance Auto Auctions is one of the most commonly used specialists in this area with auto auction locations throughout the United States. The company has been around since the early 1990s providing a variety of auto auction services for car owners, car buyers, and car sellers. If you are looking for a good way to get a car at a cheaper rate, insurance salvage deals are a great option!

Salvage vehicle auctions involve several elements – including a facilitation between buyer and seller as arranged by the Insurance Auto Auctions company. Although IAA is one of the more well known companies in this part of the automotive industry, many other companies exist with the same auto salvage specialty.

Automotive salvage occurs when an insurer considers a vehicle to be a “total loss” in insurance terminology. Essentially, this means that the vehicle is of no use to the insurance provider and the insurance carrier. When this happens, the salvaged vehicle can be sold or parted out. Many major insurance companies work with Insurance Auto Auctions, Inc. and similar companies. You will not be surprised to learn that Farmer’s Insurance, and even GEICO are just some of the names on the IAA list of regular clients.

Percentage salvage auction sales are more common these days as such companies work hard to get a piece of the action! When a salvaged car is sold at rock-bottom prices, the insurance agency provider is very interested in obtaining rights to at least a small percentage of the insurance auto auction. Since this practice has become more common in recent years, more and more insurance agents and their representatives are seeking percentage shares with companies like Insurance Auto Auctions.

The Stage of Business – Introducing Incidental Risk and the Critical Path

First of all, what is considered a risk? If we are going to identify the risks we will need to know what to look for. I have heard risk defined as the effect of uncertainty on objectives. That definition is all right but a bit too vague. To effectively identify risks for a particular project or initiative, I think you have to be a bit more specific to the objective.

As risk relates to the Project Streamâ„¢, best practices would dictate that each level is completed before the next level begins. As indicated in the diagram above, overlapping levels (as shown) will result in incidental risk and compromised results. This is a common occurrence and typically happens when levels stretch out and do not have a disciplined schedule for milestone start and completion.

“Delays have dangerous ends.” – William Shakespeare

When the project start and finish date are fixed, milestone durations should be planned with contingency durations. Otherwise any expansion of a milestone duration may compromise the adjacent milestones or possibly even the overall project risk.

Risk management scheduling is a critical part of project planning. The more time you spend crafting the schedule, the better chance you will have of project success. If you plan it well, you will be able to use the process schedule to effectively manage the project scope, schedule and budget.

“True nobility is exempt from fear.” – William Shakespeare

Make a Plan, Have a Plan. You will be glad you did!

Don’t be afraid to look to the past when crafting your plan for the future.