Marketing Environment

19Every marketing strategy has to meet with certain challenges when it’s launched in the market. A detailed identification of such challenges is done by rigorous market research so that any component is not overlooked. In fact, the basic task undertaken by marketing teams is to analyze the marketing environment in such a way so that the firm’s plans can be met timely. Also, this is a broad term that comprises various factors that affect the business of a firm, one of which may be marketing, as mentioned earlier. Stated simply, these concepts can be explained broadly in the following ways:

Internal and external forces/factors/parameters that can directly or indirectly influence (positively or negatively) the capability of a firm to carry out its business plans.
The business laws, trading rules and regulations in existence upon which the business firm has no direct control, but they can be phenomenal in influencing the firm’s business.

Components of Marketing Environment
There are two components of these forces, viz., the external factors and the internal factors. We’ll look in detail about both these features.

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How to Promote a Business

18Promoting a business via the Internet can be a cost-effective technique, provided the product is known to have a good online market. In other words, consumers prefer buying the product online rather than visiting a store for making the purchase. The products that have the potential to generate online sales are as follows: books, music, electronic goods, and software. Of these, books, music, and movies have a market share of 34%, while software has a market share of 30%. Electronic goods also have a substantial share of 14%.

Ways to Promote a Business

Once we have determined that the products the company is producing have a good online market, the question of how to promote a business locally on the Internet assumes a great deal of significance.

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Lucrative Business Ideas

17Ideas they say, rule the world and why not, it is the power of the ideas that take a concrete shape after they are fueled by the power of passion and hard work. Every company that has climbed the ladder of success was born from an idea, materialized by the immense will power and dedication of its workers. Nowadays, we can see a whole new breed of young entrepreneurs who are not hesitant in taking a step ahead and carving out a niche for them.
Lucrative business ideas are not something that are born of the depths of the Harvard management books, instead, they are born from analyzing the changing trends of the globalized world, the striking changes in the lifestyle of the communities and an uncanny knack to the spot right opportunities.
Lucrative Business Ideas – Business Consulting
Business consulting has become a backbone of every company today. In the fluctuating economy, every company appoints a committee of experts who can zero in on the problem and come out with solutions that best fit in the norms of the company. Business consulting has grown by leaps and bounds and it is undoubtedly a very lucrative business idea. Consultants charge fees for sharing their expertise, knowledge, skills and experiences with their clients and they officially submit written reports of everything they offer to their clients. Business consulting can surely be a lucrative business idea.

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Real Estate Marketing Ideas

16Real estate marketing, i.e., managing, buying, and selling in property business, is a lot simple than what most people think. Effective real estate marketing ideas need not be expensive or complicated. Simple, to the point ideas can also get you good business and eventually, good income. Armed with these ideas, you can easily obtain numerous leads and―more importantly―convert them to business.

By resorting to comprehensive marketing strategies, like running an expensive advertisement campaign or sponsoring events, a real estate professional can get his and his company’s name established in the market. While that in itself is one of the finest marketing ideas for real estate business, there do exist other ideas which can help you yield rich dividends in the long run. Let’s take a look at some of these ideas.

Using the Internet as a Platform

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Benefits of Affiliate Marketing for Business

15Affiliate marketing is a great way of generating profit. It is a simple marketing tool which involves a merchant and a website owner or affiliate. Both the parties mutually agree to join hands for this form of marketing. The website owner provides a space on his website for placing advertisement of the merchant’s products. When an Internet user clicks on the merchant’s advertisement, he is directed to the merchant’s website, where he can make a purchase. For every purchase of the merchant’s product, the website owner providing affiliate marketing, gets his share of commission thereby, creating a win-win situation for both the parties. There are several benefits of this tool which makes it an attractive business opportunity.