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SECTION 1

3.1 APPROACHES TO BUSINESS SALES:

1) SNAP Selling: The client and the sales staff share the same objectives in
this strategy. Simple, Invaluable, Always Align, and Priorities is the
acronym for SNAP. It is a sales strategy that focuses on matching their
objectives with those of potential customers.
2) Buddy Approach: Only polite and persevering salespeople could use the
Buddy Approach strategy. The prospect feels unique when salespeople
demonstrate their positive side and interest in them on an emotional level.

3) Consultative selling: This method relies on the salesperson forging

connections with clients. A B2B sales strategy of this kind is used. This
method takes time, but if it works, it may result in a long-lasting
commercial connection.
4) Networking: It's often said in the business sector that "your network is
your net worth." A person networks or approaches a sizable group of
individuals in order to interact and create leads after developing a rapport.

5) Customer Personality Selling: This kind of sales tactic typically requires

the salesperson to continually adapting their strategies in order to
persuade the customer. The salesman initially learns about the personality
of the potential customers before developing techniques.

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 SALES PLAN: A well-considered and planned sales strategy aids
businesses in developing their sales targets. The success of your business
will depend on how successfully you execute your sales strategy, which
also makes you more organized and well-prepared.

3.2 IMPORTANCE OF SALES PLAN:

 Sales strategies are essential because they consider the company's

potential in the broadest possible sense.
 Sales strategies also assist businesses in overcoming their inherent risks
and difficulties.
 Without a sales strategy, the business would suffer financially.
 With the aid of a well-considered sales plan, you may narrow your
attention to the necessary goals and block out all other distractions.

3.3 KEY OF A SALES PLAN:

1) Software: The development of the sales activities might be tracked,

monitored, and measured using sales software solutions.

2) Decide target market: Knowing their target market is crucial for any
business building a sales plan since it will enable them to concentrate on
the correct customers rather than unqualified ones. Customers who fall
under your target market often have similar interests, personality features,
levels of wealth, etc.
3) Mission: In order to have precise sales goals, it is crucial for every
business organization to create a purpose statement for their corporation.
A company's mission statement essentially outlines the goals it aims to
accomplish as a whole in a formal manner. This assertion will make the
sales plan easier for you to create.

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 4) Marketing strategies: Companies must execute "specific, quantifiable,
achievable, relevant, and time-oriented" tactics in order to enhance their
brand image and generate qualified leads.
5) Compare with competitors: Knowing your competition through and out
can enable you to develop more effective sales strategies that will aid in
market penetration. The cost of your rivals' items, their sales tactics, their
product offers, and other factors must all be investigated for your sales
plan.

6) Sales budget: Companies must build a sales budget in order to

accomplish the goals set out in their sales plan. This budget must include
information on travel expenses, training expenses, commissions, wages,
and other expenses.

SECTION 2

4.1 MARKETING PLAN:

In plain English, a marketing plan is the strategy that a business develops to

implement over a specific time period, often one year. It is a strategy that
includes marketing tactics, social media tactics, advertising tactics, and
promotion tactics. Every company must create a set of goals for all forms of
marketing activity, along with a list of actions detailing how to reach each goal.
In addition to its product offerings, this is a crucial component of any
organization.

4.2 LIST OF COMPONENTS OF A MARKETING PLAN:

1) Define your required target audience: It's crucial to identify your target
market after conducting a market analysis. By developing a buyer
persona, you may learn more about your customers. This process involves

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 data on their age, income, gender,and other characteristics. By better
comprehending your target audience, you may advertise to them directly
and develop marketing strategies that are tailored to their needs.
2) Conduct a situation analysis: Various analytical methods might be
employed to analyze the present market and competitive environment.
Making a marketing plan might start with a SWOT analysis or a PESTLE
analysis, for example.

3) SMART goals: These objectives are time-bound, meaningful,

quantifiable, reachable, and specified. This requires that your goals be
precise and that you provide a time period for when you'd like to
complete them. For instance, the organization could want to increase
Facebook interaction by 20% over the course of six months. This
objective should be pertinent and doable. It need to be quantifiable as
well. It ought to be pertinent. It need to have a deadline.
4) Analyse your tactics: In the aforementioned example, we established a
SMART objective to boost the company's Facebook engagement by 20%;
now, you need to evaluate the strategies you'll employ to make it happen.
It may be done by holding a contest, running games, publishing regularly,
and so on.
5) Set a budget: To put the aforementioned actions and suggestions into
practice, a suitable budget must be set aside. This budget needs to be
realistic and not drain the company's resources, having been estimated
with the potential profit that may be realized from implementing these
marketing methods in the future.

4.3 ROLE OF MARKET RESEARCH IN MARKETING PLANNING:

Since hazards and opportunities must be evaluated while doing research, market
research is crucial in spotting these dangers and chances. Additionally, it aids
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the marketing teams in gaining more knowledge and understanding of the
market research so they can base their selections on their experience. An firm
may select the best solutions for their target market with the aid of market
research. Because marketing strategy without a market study would result in a
number of errors, including significant losses, it is crucial to survey the market
in order to identify business prospects.

Making marketing decisions is the primary goal of market research. Any

organization's senior management isn't always faultless in their planning,
therefore it's a good idea to do some market research to minimize errors and
ambiguities. to better understand your rivals and customers. Market research
may play one of the following roles in marketing planning:

- Targeting and segmentation: Decisions on segmentation and targeting

must be based on the findings of marketing research. These studies
examine product variations and similarities as well as how these
advantages fit into various lifestyles. Basic demographic, geographic,
psychographic, and behavioral data on particular target markets are
provided by target market analyses. These two pieces of information are
then combined. These studies may be used by marketers to identify the
market groups that most closely match the traits of their brands. If a
company has knowledge on things like usage habits, behaviors, priorities,
and lifestyles, it will be able to make better targeting and segmentation
decisions.
- Product Development: Marketing research is used throughout the whole
product development process. Market research might be done early in the
development phase to get user feedback on concepts for prospective new
goods or updates to current ones. Product testing studies must be carried
out in order to improve a product's attractiveness to customers. Test

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 markets can be used to gather information prior to the release of a new
product or a modification to an existing product on the market. The
results of a test market may be used to inform changes and choices that
will enhance the probability that a new product will succeed.
- Competitive & marketing analyses: The main goal of a market analysis
study is to evaluate the state of the market and then identify new markets.
Due to the changing nature of the industry, market analysis studies are
essential when it comes to new goods or the launch of a new product into
an existing market. A corporation runs the danger of losing market share
very quickly if it does not stay up to date with current trends in customer
behavior. You should regularly undertake competitive analysis studies if
you don't want your competitors to steal your market share. A marketing
information system is frequently used to continually collect data about the
market and competitors.
- Pricing: Pricing studies might be performed to determine the elasticity of
a brand's price and the effects of price adjustments on demand as pricing
is such a crucial element in purchasing choices.
1.1 MARKETING IN BUSINESS:

It entails creating your brand identity and letting your target audience know who
you are and what you do. Your company won't get the exposure it needs without
marketing. First, marketing research must be carried out in order to determine
which market needs to be targeted. You might then locate your ideal audience.
Marketing is the backbone of every business, big or small, since it helps to
promote the company's mission and goods.

1.2 ROLES OF MARKETING DEPARTMENT:

- keeping an eye on and monitoring the websites of the organizations

- upholding the brand's reputation
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 - the production of marketing and advertising materials
- carrying out market research
- examining mistakes and putting the proper remedies into practice
- creating a sales plan
- Increasing brand recognition
- providing salespeople with leads
- managing the media's and other agencies' communications

1.3 PRINCIPLES OF MARKETING MIX FOR A BUSINESS PRODUCT

OR SERVICE:

Businesses use the marketing concepts known as the principles of marketing

mix to develop effective and potent marketing tactics. They serve as the
guidelines for developing our product offering strategy. Both products and
services may be efficiently promoted using marketing ideas.

The 4Ps Strategy may be used by some SMEs. The product, the price, the
venue, and the promotion are the four Ps of the marketing mix. It also goes by
the name of the 4P Marketing Matrix.

Other businesses, however, may have created their own marketing principles.
They are typically similar to the 4Ps plan or only slightly different from it.

The following are the four marketing mix principles:

1. Product: Every firm selling its products or services needs to be flawless

with their availability since everything that is provided to the end
customers through products or services is considered a product. It need to
be distinctive on the market. The target market must be defined using a
USP.

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 2. Price: Your market's viability may depend on how you price your goods.
Therefore, businesses must price their goods carefully in relation to the
competition while yet making a good profit.
3. Place: Place is the geographic region where your items are distributed
and sold. You must understand your product and your target market in
order to do this. For instance, you cannot sell a high-end brand of shoes at
a neighborhood grocery since that is not where your clients would be;
instead, you must build a special location to cater to their tastes.
4. Promotion: The more clearly and broadly you can connect with your
target users through promotion, the more money your company will
make. Knowing your market and being able to interact with them
successfully are key.

SECTION 3

2.1 MARKETING MIX:

The four Ps of the marketing mix are often referred to as product, place, price,
and promotion. These elements help businesses understand what customers
want, how their product or service satisfies those needs or the opposite, how
they vary from their rivals, and other things. It is a group of tools used to
achieve marketing goals on the targeted market in question.

2.2 ELEMENTS OF MARKETING MIX:

1) Product: Anything provided to end users via products or services is

considered a product, thus any business marketing such goods or services
must ensure that they are always available. It need to stick out on the
market. To specify the target market, a USP must be created.

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 2) Price: Your market's viability may depend on how you price your goods.
Therefore, businesses must price their goods carefully in relation to the
competition while yet making a good profit.
3) Place: Place is the geographic region where your items are distributed
and sold. You must understand your product and your target market in
order to do this. For instance, you cannot sell a high-end brand of shoes at
a neighborhood grocery since that is not where your clients would be;
instead, you must build a special location to cater to their tastes.
4) Promotion: Promotion is the means through which you communicate
with your target audience; the more clear and extensive the
communication, the greater the income for the company. Knowing your
market and being able to interact with them successfully are key.

2.3 AN EXAMPLE OF MARKETING MIX:

One of the top fast-food restaurants in the globe is Hardee's. They provide soft
drinks, fries, burgers, and other food. It's a fast food restaurant in America.

Price:

- Combination meals are more affordable at Hardee's than single meals,

making them a better choice for singles and students.
- The extremely ancient but still used tactic of psychological pricing is
used to deceive buyers into thinking that a company's goods are less
expensive. The price would range from $0.99 to $10.99 and beyond.

Product:

- Sandwiches and burgers

- Salads
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 - Breakfast meals
- Fast-food cuisine
- French fries
- Soft serves
Place:

- Malls
- Restaurants
- Fuel stations
- Online application

Promotion:

- Collaborations
- Advertisements
- Coupons
- Direct marketing
- social media

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