Final Project #3

Course book

Student name

Affiliate

RESEARCH ON MARKETING OF BUSINESS PRODUCTS

PROBLEM STATEMENT

Business organizations always have hardships when it comes to marketing their products. This is the reason as to why some business organizations perform less well and some end up being closed for the continued loss due to poor methods of marketing. The businesses need to have knowledge on the efficient methods which are keys to improve the sales volume and profits. These methods should be implemented so that the success should be achieved. (Smith, 1956).

OBJECTIVE

The aim of the research is to find the efficient methods of marketing which are to bring success to the business organizations that are diminishing due to poor methods of marketing. These efficient methods are the reasons of success to the well flourished business organizations and hence some research should be conducted on the same organizations. The main of the research is bringing new page to the poorly performing organizations so that they may also succeed.

RESEARCH QUESTION

Does marketing methods have an effect on the sales volume and success of business organizations?

HYPOTHESIS

The marketing methods and processes have an effect to the success of a business. This is because the efficient methods like improved personal selling results to increased sales of products which are produced by a certain organization. This is to say, the business organizations having the efficient methods of marketing are the ones enjoying higher profits which result from the high sales volume. (Smith, 1956).

INTRODUCTION

Different businesses have various ways which they use to carry out marketing processes for their products. These various ways are the keys to the success of the business involved and hence for a better success of a certain business enterprise to perform well, then it must have vivid knowledge of the different methods of marketing their products. If the business realizes these methods, it will be able to analyze them and select the most important ones to use for its success. This research will enable business organizations to understand the different methods which are important as far as marketing is concerned. This research will be of importance to the businesses to enhance their selling and result to more profits. (Hauser, & Shugan, 2008).

RESEARCH ON MARKETING OF BUSINESS PRODUCTS

One of the efficient methods of enhancing marketing is through advertisements in the business as a way of improving its sales volume. Advertisements method is a key role in promoting the sales volume of a business through advertising of the products. There are many ways through which a business should use to enhance its sales which include: television advertisement, public speaking, online advertisements and also newspaper advertisement. These advertisements help in creating awareness to customers on the existence of the products in the market which will make them purchase the products and hence increasing the sales volume. (Smith, 1956).

Again these advertisements are important to the new business organizations because their targeted group doesn’t know about the new introduced products in the market and hence they will be able to know and purchase the products. In addition, this method is important as it helps in creating healthy competition between businesses dealing with same products. This will be made possible where the advertisements will be made more creative more so in television advertisement which will capture the attention of the customers depending with their tastes and preferences. Hence they will be able to purchase wide variety of products from different business organizations which in turn will make those which are diminishing to make profits also and prosper. (Hauser, & Shugan, 2008).

The other method of promoting marketing method and strategy is through product promotion which entails promotions like road shows and personal selling. These methods also will help increase the selling of a business organization which will be helping them to perform well and succeed. Through product promotion, the business will be able to reach customers from far most remote places who may be promoted to use their products through the same promotions. The customers may be given free products to use and also being given the products at low prices as a way of making their attitudes to be positive about the products. This will also favor the name of the business and as a result people from other regions will be able to go for the products of the organization making it to prosper. In addition, personal selling will help customers’ morale to increase towards the purchase of the products. This will be promoted by the negotiations, descriptions and explanations which are associated by the process of personal selling. When this will be done, then the different business organizations will be able to prosper well and become successful. (Tang, & Tzeng, 1998).

More so the business organizations should have to conduct a research on external markets in other regions and countries so as to increase their sales as a market strategy method. This is an important strategy because it will result to more sales being realized in oversee countries where it will add to the existing internal market. The research to be conducted involves sending some officials of the organizations to other countries and analyzes the market gaps which are available for the company’s products and give advice with respect to the same selling. Also the companies will be able to place their agents in these countries who will promote the selling of the products. The small organizations which face much competition in their locality may be favored by this method because they will be able to sell their products in these countries and make more profits hence they will not be removed from the market. (Hauser, & Shugan, 2008).

Beside this, the business organizations may also have to partner with other organizations so that they may be able to have a healthy competition for their products. This involves making agreements on the prices of the similar products as well as agreeing on selling their products as a whole to favor the sales for each company. This will help the small organizations which are coming up to be able to sell and realize profits. However, business organizations should do an analysis of the available market gaps for certain products which are in high demand so that they may start producing these demanded products. This is another marketing strategy method of realizing profits for these organizations which will make them increase their sales volume. (Tang, & Tzeng, 1998).

CONCLUSION

Business organizations which are finding it hard to cop up with the marketing of their products should employ new efficient methods of marketing. This will help them improve their sales in the existence market and also not being forced out of the market due to lack of market for their products. The methods of marketing which are efficient are the key factors to business successes more so to the small growing businesses organizations. The methods which are researched and discussed above are the key to business success. (Hauser, & Shugan, 2008).

References

Smith, W. R. (1956). Product differentiation and market segmentation as alternative marketing

strategies. Journal of marketing, 21(1), 3-8.

Hauser, J. R., & Shugan, S. M. (2008). Defensive marketing strategies. Marketing Science,27(1),

88-110.

Tang, M. T., & Tzeng, G. H. (1998). A hierarchy fuzzy MCDM method for studying electronic

marketing strategies in the information service industry.