Since I am taking online marketing classes I will advise my friend to focus on online marketing apart from using physical marketing since by using online marketing my friend will be able to market the products over the internet this will acquire more customers hence increasing the sales. Through internet marketing, my friend will be able to attract more customers at a lower cost since the distribution of information on the products is free and this tends to cover a wide scope of customers who can easily acquire the information on the product over the internet and purchasing it without necessary visiting the clothing store itself (Sandhu, 2000).
Since there is increased competition from the Walmart store will advise my friend to spend more time focusing on how her clients will benefit from the product and listen to the customers comment about her products and the services received during the whole purchasing period. After analyzing this I will advise my friend to market her products in a way that is customer friendly as well as the services she will be offering (Kerin, 2003).
I will also inquire her to market her products to the people who seem to be parents and focus on generating her daily customers as well as advertising through the media and networking. Should also inform the potential customers about the benefits and the features of your product and ask your employees about the issues affecting the business and how to solve them (Silk, 2006).
Cross-border alliances can be defined as an international agreement that is formed between two or more companies that produce goods and services to share risks and profits without merging or the full ownership of each company (Hisrich,2000). Cross-border alliances enable companies to achieve their set objectives and goals in a competitive market environment (Wedel, 1999). In addition, they enable companies to achieve goals that can not be attained through mergers and company privatization.
Cross border alliances are very important when it comes to large scale economies as it helps such large scale economies to survive and work in a competitive environment as they bring down the costs and risks involved in introducing a new product in the market. They are also involved in the reduction of time needed to study the market requirements in a particular business environment since they help in the elimination of the difficulties that are involved when two or more companies are merging. Moreover, cross-border alliances play a major role when it comes to the initiation of visions and plans since they are enable participating companies to develop in growing markets where local partner involvement is required (Sterne, 2001).
To begin with, list segmentation can be described as a technique set by direct marketers to lure individuals who are more likely to respond to a direct mail. The first benefit of list segmentation is that it enables proper marketing budget since marketers using this technique implies that people mailed are likely to respond quickly which reduces the likelihood of wastage of resources budgeted for marketing (Croft,1994).
The second importance of list segmentation is that it facilitates an environment through which marketers can easily identify and know-how well target audience tends to respond to the messages sent to them by the marketers. Furthermore, it provides a way through which the marketer can compare the audience between those who respond and those who don’t which in the end enables the marketer to effectively evaluate the difference and develop a clear understanding of the cause Marketing managers need research to know which product or service they are going to introduce in the market as it provides the direction and facts which are vital in decision making which can not be gained from the normal knowledge of the market but needs to be in analyzed data.
It provides the decision-makers with the actual data on the effectiveness of the current marketing strategy and the challenges facing it. It also enables decision-makers to know about the available investment opportunities in the market (Birn, 2002).
Market segmentation is the process of dividing the market into diverse uniform groups of consumers. This, therefore, provides a way through which firms can easily modify their marketing mix to specifically identified consumers to effectively satisfy these consumers. To achieve this effect it implies that the market segment should be measurable, durable, accessible by all communication as well as distribution channels, and should be sizeable enough to be profitable. To identify a proper marketing mix then first all the customer’s needs should be identified and it should clearly respond to the marketing stimulus of the customers (Arndt, 1974).
Bibliography
Richard Sandhusen (2000), Marketing; Published by Barron’s Educational Series Marketing.
Robert D. Hisrich (2000), Marketing; Published by Barron’s Educational Series.
Roger A. Kerin (2003), Marketing: The Core; Published by McGraw Hill Professional.
Alvin J. Silk (2006), What is marketing; published by Harvard Business Press.
Jim Sterne (2001), World Wide Web marketing: integrating the Web into your marketing strategy; Published by John Wiley and Sons.
Michael J. Croft (1994), Market segmentation: a step-by-step guide to profitable new business; Published by Routledge.
Michel Wedel (1999), Market segmentation: conceptual and methodological foundations; Published by Routledge.
Johan Arndt (1974), Market Segmentation: Theoretical and Empirical Dimensions; Published by Universitetsforlaget.
Robin Birn (2002), Market Research; Published by Capstone Pub.
Edward F. McQuarrie (2005), The market research toolbox: a concise guide for beginners; Published by SAGE.