welcome to Book Lessons
- What is Market?
- How Cash Flow Works?
- Marketing Plan for Manufacturing.
- How Advertising Works?
- Determinants of the Market Structure.
Let’s discuss about
- What is Market?
A market is a place where buyers and sellers can meet to facilitate the exchange or transaction of goods and services. Markets can be physical like a retail outlet, or virtual like an e-retailer.
Short Intro of Business Market
- Conduct market research. Market research is a key part of developing your market strategy.
2. Profile your target markets or Audiences.
3. Identify your unique selling proposition (USP).
4. Develop your business brand.
5. Choose your Marketing avenues.
6. Set your goals and budget.
7. Nurture your loyal customers.
8. Monitor and review.
How to Get Audience
Some Cheap technique
Go to E-commerce site, you know what I’m trying to say some Big E-commerce’s. Go to review section and see what are they doing see the reviews. And their Interest.
2. How Cash Flow Works?
This Important for Business Cash Flow is the money that is moving (flowing) in and out of your business in a month. Although it does sometimes seem that cash flow only goes one way—out of the business—it does flow both ways.
- Cash is coming in from customers or clients who are buying your products or services. If customers don’t pay at the time of purchase, some of your cash flow is coming from collections of accounts receivable.
- Cash is going out of your business in the form of payments for expenses, like rent or a mortgage, in monthly loan payments, and in payments for taxes and other accounts payable.
Tips for Managing Your Cash Flow
Here are some ways to better manage your cash flow to avoid a cash flow emergency:
Control Inventory.Having too much inventory ties up cash. Keep track of inventory so you can estimate your needs better.
Collect receivables. Set up a collections schedule, using an accounts receivable aging report as a guide. Follow up on non-payers.
End Unprofitable Relationships. Decide when it’s time to end a relationship with someone who never pays.
3. Marketing Plan for Manufacturing
1 Analysis. To build your Marketing plan, first take a look at your resources.
3 Foundational Marketing and A/B testing.
4 Lead generation
5 Metrics, tracking, and CRM (Customer Relationship Management).
Great Techniques to Market your Service Business.
- Reel in customers with Incentives.
2. Stay in Touch.
3. Make Use of Social Networking.
4. Stock Up on Business Cards.
5. Connect with the Community.
6. Get in the News.
7. Complete Based on Value, Not Price.
4. How Advertising Works?
The basis for all advertising is simply awareness. Awareness is desirable to companies for a few reasons: Reach – To build demand for your brand, products or service, you must be able to reach new audiences. Those audiences already exist on websites, searches, social media, radio, television, and other mediums.
5. Determinants of the Market Structure
- The number of sellers operating in the Market.
2. The number of buyers in the market.
3. The nature of goods and services offered by the firms.
4. The concentration ratio of the company, which shows the largest market shares held by the companies.
This Article is Research by Arshad. A