Many businesses have been lost because they priced themselves out of the marketplace. On the other hand, many business and sales staff leave “money on the table”.
One strategy does not fit all, so adopting a pricing strategy is a learning curve when studying the needs and behaviors of customers and clients
- Because of too many poor economy,I want to share this article and guide you on the right place and boost up your audience right now!
This article will anwser about ;
- Strategy Landing Page
- Landing Page Optimization
- Definition Of Search Engine
- Marketing Strategy
- Types Of Marketing
- Pricing Strategies
- 9# Laws Of Psyhology On Pricing Strategy
- Find Out Your Customers
- Question From Followers
- Tips and Info
Definition Landing Page
- In online marketing a landing page, sometimes known as a “lead capture page” or a “lander”, is a single web page that appears in response to clicking on a search engine optimized search result or an online advertisement.
- The landing page will usually display directed sales copy that is a logical extension of the advertisement, search result or link.
- Landing pages are often linked to from social media, email campaigns or search engine marketing campaigns in order to enhance the effectiveness of the advertisements.
- The general goal of a landing page is to convert site visitors into sales or leads. By analyzing activity generated by the linked URL, marketers can use click-through rates and Conversion rate to determine the success of an advertisement.
Reference landing page
- A reference landing page presents information that is relevant to the visitor. These can display text, images, dynamic compilations of relevant links, or other elements.
Landing page optimization
- (LPO) is one part of a broader Internet marketing process called conversion optimization, or conversion rate optimization
- (CRO), with the goal of improving the percentage of visitors to the website that become sales leads and customers.
- A landing page is a webpage that is displayed when a potential customer clicks an advertisement or a search engine result link. This webpage typically displays content that is a relevant extension of the advertisement or link.
- LPO aims to provide page content and appearance that makes the webpage more appealing to target audiences.
A conversion path is a type of landing page that segments respondents to online advertising and search campaigns. Conversion paths utilize user-directed segmentation, where a respondent is offered segmentation choices to make that act in their self-interest. After self-segmenting, users land on pages that deliver more tailored content and pitch.
Unlike a single landing page, a conversion path does not ask for a desired action, or a conversion, until a respondent has self-segmented.
Search engine optimization
- (SEO) is the process of affecting the visibility of a website or a web page in a search engine’s “natural” or un-paid (“organic”) search results. In general, the earlier (or higher ranked on the search results page), and more frequently a site appears in the search results list, the more visitors it will receive from the search engine’s users.
- SEO may target different kinds of search, including image search, local search, video search, academic search,news search and industry-specific vertical search engines.
As an Internet marketing strategy, SEO considers how search engines work, what people search for, the actual search terms or keywords typed into search engines and which search engines are preferred by their targeted audience. Optimizing a website may involve editing its content, HTML and associated coding to both increase its relevance to specific keywords and to remove barriers to the indexing activities of search engines. Promoting a site to increase the number of backlinks, or inbound links, is another SEO tactic.
The plural of the abbreviation SEO can also refer to “search engine optimizers,” those who provide SEO services.
“As A Marketing Strategy?”
SEO is not an appropriate strategy for every website, and other Internet marketing strategies can be more effective like paid advertising through PPC campaigns, depending on the site operator’s goals.A successful Internet marketing campaign may also depend upon building high quality web pages to engage and persuade, setting up analytics programs to enable site owners to measure results, and improving a site’s conversion rate.SEO may generate an adequate return on investment.
However, search engines are not paid for organic search traffic, their algorithms change, and there are no guarantees of continued referrals. Due to this lack of guarantees and certainty, a business that relies heavily on search engine traffic can suffer major losses if the search engines stop sending visitors.
Search engines can change their algorithms, impacting a website’s placement, possibly resulting in a serious loss of traffic. According to Google’s CEO, Eric Schmidt, in 2010, Google made over 500 algorithm changes – almost 1.5 per day.It is considered wise business practice for website operators to liberate themselves from dependence on search engine traffic.
- can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage.
Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contribute to the goals of the company and its marketing objectives.
Types Marketing Strategeis
Marketing strategies may differ depending on the unique situation of the individual business. However there are a number of ways of categorizing some generic strategies.
- A brief description of the most common categorizing schemes is presented below:
Strategies based on market dominance – In this scheme, firms are classified based on their market share or dominance of an industry. Typically there are four types of market dominance strategies:
Market introduction strategies“At introduction, the marketing strategist has two principle strategies to choose from: penetration or niche”
Market growth strategies“In the early growth stage, the marketing manager may choose from two additional strategic alternatives: segment expansion or brand expansion”
“How About Pricing Strategies?”
Pricing strategies for products or services encompass three main ways to improve profits. These are that the business owner can cut costs or sell more, or find more profit with a better pricing strategy. When costs are already at their lowest and sales are hard to find, adopting a better pricing strategy is a key option to stay viable.
Nine laws of price sensitivity and consumer psychology
- Reference Price Effect – buyer’s price sensitivity for a given product increases the higher the product’s price relative to perceived alternatives. Perceived alternatives can vary by buyer segment, by occasion, and other factors.
- Difficult Comparison Effect – buyers are less sensitive to the price of a known or more reputable product when they have difficulty comparing it to potential alternatives.
- Switching Costs Effect – the higher the product-specific investment a buyer must make to switch suppliers, the less price sensitive that buyer is when choosing between alternatives.
- Price-Quality Effect – buyers are less sensitive to price the more that higher prices signal higher quality. Products for which this effect is particularly relevant include: image products, cexclusive products, and products with minimal cues for quality.
- Expenditure Effect – buyers are more price sensitive when the expense accounts for a large percentage of buyers’ available income or budget.
- End-Benefit Effect – the effect refers to the relationship a given purchase has to a larger overall benefit, and is divided into two parts: Derived demand: The more sensitive buyers are to the price of the end benefit, the more sensitive they will be to the prices of those products that contribute to that benefit. Price proportion cost: The price proportion cost refers to the percent of the total cost of the end benefit accounted for by a given component that helps to produce the end benefit (e.g., think CPU and PCs). The smaller the given components share of the total cost of the end benefit, the less sensitive buyers will be to the component’s price.
- Shared-cost Effect – the smaller the portion of the purchase price buyers must pay for themselves, the less price sensitive they will be.
- Fairness Effect – buyers are more sensitive to the price of a product when the price is outside the range they perceive as “fair” or “reasonable” given the purchase context.
- The Framing Effect – buyers are more price sensitive when they perceive the price as a loss rather than a forgone gain, and they have greater price sensitivity when the price is paid separately rather than as part of a bundle.
“ok now i understand about strategies.So what should i do now?”
You have to think about
- Strategic Planning
- Strategic Thinking
Strategic planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy.
In order to determine the direction of the organization, it is necessary to understand its current position and the possible avenues through which it can pursue a particular course of action.
Generally, strategic planning deals with at least one of three key questions:
- “What do we do?”
- “For whom do we do it?”
- “How do we excel?”
In many organizations, this is viewed as a process for determining where an organization is going over the next year or—more typically—3 to 5 years (long term), although some extend their vision to 20 years.
- Strategic thinking is defined as a mental or thinking process applied by an individual in the context of achieving success in a game or other endeavor. As a cognitive activity, it produces thought.
- When applied in an organizational strategic management process, strategic thinking involves the generation and application of unique business insights and opportunities intended to create competitive advantage for a firm or organisation.
- It can be done individually, as well as collaboratively among key people who can positively alter an organisation’s future.
- Group strategic thinking may create more value by enabling a proactive and creative dialogue, where individuals gain other people’s perspectives on critical and complex issues. This is regarded as a benefit in highly competitive and fast-changing business landscapes
Strategic Planning Process
- There are many approaches to strategic planning but typically one of the following approaches is used:
Situation – evaluate the current situation and how it came about.
- Target – define goals and/or objectives (sometimes called ideal state)
- Path / Proposal – map a possible route to the goals/objectives
- Draw – what is the ideal image or the desired end state?
- See – what is today’s situation? What is the gap from ideal and why?
- Think – what specific actions must be taken to close the gap between today’s situation and the ideal state?
- Plan – what resources are required to execute the ‘plan’?
Goals,Objective and Targets
Strategic planning is a very important business activity. It is also important in the public sector areas such as education. It is practiced widely informally and formally.
- Strategic planning and decision processes should end with objectives and a roadmap of ways to achieve them. The goal of strategic planning mechanisms like formal planning is to increase specificity in business operation, especially when long-term and high-stake activities are involved.
- One of the core goals when drafting a strategic plan is to develop it in a way that is easily translatable into action plans. Most strategic plans address high level initiatives and overarching goals, but don’t get articulated (translated) into day-to-day projects and tasks that will be required to achieve the plan.
- Terminology or word choice, as well as the level at which a plan is written, are both examples of easy ways to fail at translating your strategic plan in a way that makes sense and is executable to others.
- Often, plans are filled with conceptual terms which don’t tie into day-to-day realities for the staff expected to carry out the plan.
- The following terms have been used in strategic planning: desired end states, plans, policies, goals, objectives, strategies, tactics and actions. Definitions vary, overlap and fail to achieve clarity.
- The most common of these concepts are specific, time bound statements of intended future results and general and continuing statements of intended future results, which most models refer to as either goals or objectives (sometimes interchangeably).
- One model of organizing objectives uses hierarchies. The items listed above may be organized in a hierarchy of means and ends and numbered as follows: Top Rank Objective (TRO), Second Rank Objective, Third Rank Objective, etc.
- From any rank, the objective in a lower rank answers to the question “How?” and the objective in a higher rank answers to the question “Why?” The exception is the Top Rank Objective (TRO): there is no answer to the “Why?” question. That is how the TRO is defined.
- People typically have several goals at the same time. “Goal congruency” refers to how well the goals combine with each other. Does goal A appear compatible with goal B? Do they fit together to form a unified strategy? “Goal hierarchy” consists of the nesting of one or more goals within other goal(s).
- One approach recommends having short-term goals, medium-term goals, and long-term goals. In this model, one can expect to attain short-term goals fairly easily: they stand just slightly above one’s reach.
- At the other extreme, long-term goals appear very difficult, almost impossible to attain. Strategic management jargon sometimes refers to “Big Hairy Audacious Goals” (BHAGs) in this context.
- Using one goal as a stepping-stone to the next involves goal sequencing. A person or group starts by attaining the easy short-term goals, then steps up to the medium-term, then to the long-term goals. Goal sequencing can create a “goal stairway”.
- In an organizational setting, the organization may co-ordinate goals so that they do not conflict with each other. The goals of one part of the organization should mesh compatibly with those of other parts of the organization.
“Hey aoqy,i just do my strategic planning,could you explain more about customer for me?”
- The question from my recent follower on my twitter acc.
Now i will elaborate more about “Your” Customer’s.
- Many people out there jump into the wrong circle industry and audience,because there don’t research about category of customer.
- When you realize,you’re in the wrong places,the result from your planning will be bad and alot of issue you have to backup.
“So,let’s get started about customer!”
- A customer (sometimes known as a client, buyer, or purchaser) is the recipient of a good, service, product, or idea, obtained from a seller, vendor, or supplier for a monetary or other valuable consideration.Customers are generally categorized into two types:
An intermediate customer or trade customer (more informally: “the trade”) who is a dealer that purchases goods for re-sale.
An ultimate customer who does not in turn re-sell the things bought but either passes them to the consumer or actually is the consumer.
A customer may or may not also be a consumer, but the two notions are distinct, even though the terms are commonly confused.
A customer purchases goods; a consumer uses them.An ultimate customer may be a consumer as well, but just as equally may have purchased items for someone else to consume. An intermediate customer is not a consumer at all.
The situation is somewhat complicated in that ultimate customers of so-called industrial goods and services (who are entities such as government bodies, manufacturers, and educational and medical institutions) either themselves use up the goods and services that they buy, or incorporate them into other finished products, and so are technically consumers, too.
However, they are rarely called that, but are rather called industrial customers or business-to-business customers.Similarly, customers who buy services rather than goods are rarely called consumers.
Six Sigma doctrine places (active) customers in opposition to two other classes of people: not-customers and non-customers. Whilst customers have actively dealt with a business within a particular recent period that depends from the product sold, not-customers are either past customers who are no longer customers or potential customers who choose to do business with the competition, and non-customers are people who are active in a different market segment entirely. Geoff
Tennant, a Six Sigma consultant from the United Kingdom, uses the following analogy to explain the difference: A supermarket’s customer is the person buying milk at that supermarket; a not-customer is buying milk from a competing supermarket, whereas a non-customer doesn’t buy milk from supermarkets at all but rather “has milk delivered to the door in the traditional British way”.
Tennant also categorizes customers another way, that is employed outwith the fields of marketing.
Whilst the intermediate/ultimate categorization is used by marketers, market regulation, and economists, in the world of customer service customers are categorized more often into two classes:
- An external customer of an organization is a customer who is not directly connected to that organization.
- An internal customer is a customer who is directly connected to an organization, and is usually (but not necessarily) internal to the organization. Internal customers are usually stakeholders, employees, or shareholders, but the definition also encompasses creditors and external regulators.
The notion of an internal customer — before the introduction of which external customers were, simply, customers — was popularized by quality management writer Joseph M. Juran, who introduced it in the fourth edition of his Handbook (Juran 1988).
It has since gained wide acceptance in the literature on total quality management and service marketing;and the customer satisfaction of internal customers is nowadays recognized by many organizations as a precursor to, and prerequisite for, external customer satisfaction, with authors such as Tansuhaj, Randall & McCullough 1991 arguing that service organizations that design products for internal customer satisfaction are better able to satisfy the needs of external customers
“Awsome Thanks!may i ask 1more question,how you satisfy your client or explain for me what is satisfaction for customer?”
- ok,right now i’ll explain about Customer Satisfaction
Customer satisfaction, a term frequently used in marketing, is a measure of how products and services supplied by a company meet or surpass customer expectation.
Customer satisfaction is defined as “the number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified satisfaction goals.
In a survey of nearly 200 senior marketing managers, 71 percent responded that they found a customer satisfaction metric very useful in managing and monitoring their businesses.
It is seen as a key performance indicator within business and is often part of a Balanced Scorecard. In a competitive marketplace where businesses compete for customers, customer satisfaction is seen as a key differentiator and increasingly has become a key element of business strategy.
“Within organizations, customer satisfaction ratings can have powerful effects.
They focus employees on the importance of fulfilling customers’ expectations. Furthermore, when these ratings dip, they warn of problems that can affect sales and profitability. . . . These metrics quantify an important dynamic.
When a brand has loyal customers, it gains positive word-of-mouth marketing, which is both free and highly effective.” Therefore, it is essential for businesses to effectively manage customer satisfaction. To be able do this, firms need reliable and representative measures of satisfaction.
“In researching satisfaction, firms generally ask customers whether their product or service has met or exceeded expectations.
Thus, expectations are a key factor behind satisfaction. When customers have high expectations and the reality falls short, they will be disappointed and will likely rate their experience as less than satisfying.
For this reason, a luxury resort, for example, might receive a lower satisfaction rating than a budget motel—even though its facilities and service would be deemed superior in ‘absolute’ terms. The importance of customer satisfaction diminishes when a firm has increased bargaining power.
- For example, cell phone plan providers, such as AT&T and Verizon, participate in an industry that is an oligopoly, where only a few suppliers of a certain product or service exist.
As such, many cell phone plan contracts have a lot of fine print with provisions that they would never get away if there were, say, a hundred cell phone plan providers, because customer satisfaction would be far too low, and customers would easily have the option of leaving for a better contract offer.
There is a substantial body of empirical literature that establishes the benefits of customer satisfaction for firms.
“Customer satisfaction provides a leading indicator of consumer purchase intentions and loyalty.”
“Customer satisfaction data are among the most frequently collected indicators of market perceptions. Their principal use is twofold:”
- “Within organizations, the collection, analysis and dissemination of these data send a message about the importance of tending to customers and ensuring that they have a positive experience with the company’s goods and services.”
- “Although sales or market share can indicate how well a firm is performing currently, satisfaction is perhaps the best indicator of how likely it is that the firm’s customers will make further purchases in the future. Much research has focused on the relationship between customer satisfaction and retention. Studies indicate that the ramifications of satisfaction are most strongly realized at the extremes.” On a five-point scale, “individuals who rate their satisfaction level as ‘5’ are likely to become return customers and might even evangelize for the firm. (A second important metric related to satisfaction is willingness to recommend.
- This metric is defined as “The percentage of surveyed customers who indicate that they would recommend a brand to friends.” When a customer is satisfied with a product, he or she might recommend it to friends, relatives and colleagues.
- This can be a powerful marketing advantage.) “Individuals who rate their satisfaction level as ‘1,’ by contrast, are unlikely to return. Further, they can hurt the firm by making negative comments about it to prospective customers. Willingness to recommend is a key metric relating to customer satisfaction.”
- So guys,I hope you enjoyed read my article and i hope from this post,might be give you an ideas and inpiration for you next Strategic Planning and Strategic Thinking Good luck!!
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