|
|
|
How Much Is Your Popcorn Worth?: Powerful Lessons In Marketing & The Psychology Of Selling – The Final Part
Additional Lessons from Popcorn Marketing
I'm assuming that the movie theatres have tested their price point and figured out what the highest price is that they can charge and get away with - the highest price the market will be willing to pay....
Industry Pro Interview: Marketing Beyond the Basics
© 2002 Karon Thackston http://www.ktamarketing.com I had the privilege of interviewing Diane Garrod of TalkCity.com. Talk about a marketing pro! Her online specialty is marketing - helping for profit and nonprofit clients to acquire, retain and...
Mobile Marketing A New Age Strategy
More and more companies seem to be looking for new and innovative ways to market their products. Overlooking most of the traditional marketing techniques, more companies are pioneering the relatively new mobile marketing campaign. Mobile event...
Small Biz Marketing Stategy: When to Launch a New Product
The first question an entrepreneur should ask himself when contemplating whether to extend his product range is "why would I do that?" A good share of the entrepreneurs I know have a tendency to extend their product range in a very curious,...
The Truth About Internet Marketing Tools...Revealed!
The Beginners Guide To An Internet Business! I believe many of you probably have the same problems I had when I first started my internet business. These problems are difficult to identify and correct because at the early stages of our careers we...
|
|
| |
|
|
|
|
|
|
Lateral Marketing & Small Business
Big businesses do it, and now small business owners are following the trend. No, I'm not talking about spokesmodels, endorsements, or catchy theme songs -- although certainly you could use those if you wish. What I am referring to is Lateral Marketing -- and if used properly, it can be a solid business building tool.
For this example, we're featuring business client The Soap Dish, a family operated business offering a line of handmade Goat's Milk soap, lotion, and sundries. In addition, The Soap Dish offers an assortment of soap making supplies, packaging items, and a full recipe library. It is this selection of items that we will be focusing on for the basis of this discussion.
The owners of The Soap Dish learned, as many small business owners do, that few companies can, (or will) accommodate the unique needs of cottage industries. Many small businesses are unable to meet larger companies' order minimums, or simply do not wish to bring in the quantities needed in order to benefit from bulk rate pricing. This niche provided The Soap Dish with the opportunity to provide a service to other small businesses within the same market.
By ordering basic supplies in larger quantities, The Soap Dish was able to enjoy the benefits of bulk pricing discounts, then pass these discounts along to competitors who utilized these same items. In so doing, their supply business grew significantly, while establishing themselves as an up and coming player in the competitive market of soapmaking supplies. The additional revenue generated by the supply sales has
allowed them to penetrate new markets, introduce new product offerings, and update internal systems at a rate that might not have been possible without the lateral expansion. In addition, the availability of a recipe database has allowed new and inexperienced hobby soapmakers a venue from which to gain knowledge, as well as affordable startup supplies. The presence of the resource helps in building customer trust and loyalty -- both are key elements in customer retention.
The basic principles of lateral expansion in this example are quite simple. Look at your existing product offering, and identify items which complement that offering, and also appeal to others serving your general market. Identify a need in the market for the item or service -- based upon price, availability, or strictly on service. Then, develop a solid strategy to satisfy this need. By positioning yourself to meet the challenges created by the need, you also position your business to benefit from the solution you create.
To learn more about The Soap Dish, visit them online at www.TheSoapDish.com.
About the Author
© 2004 Traci Hayner Vanover, The Promo Diva http://www.PromoBoost.com. Promo Boost offers a wide assortment of design, marketing, and promotional tools to help small businesses and the cottage industry. The Promo Diva is also the owner of Marketplace Gallery, a virtual marketplace offering affordable e-commerce solutions catering to the small business community, and offer a unique venue for craft aficionados. Visit us online at www.MarketplaceGallery.com.
|
|
|
|
|
| KnowThis: For Marketing, Market Research, Internet Marketing ... |
| KnowThis.com offers a wealth of information, forums, and resources for professionals, academics and students in traditional and internet marketing, ... |
| www.knowthis.com |
  |
| Marketing - Wikipedia, the free encyclopedia |
| Marketers depend on marketing research, both formal and informal, ... The next big thing is a concept in marketing that refers to a product or idea that ... |
| en.wikipedia.org |
  |
| Marketing - Marketing Strategy - Marketing Plan - Marketing ... |
| Learn about marketing careers, the stages of developing a marketing plan, how to begin marketing research, create a marketing strategy, and how to market ... |
| marketing.about.com |
  |
| Marketing.org - Home of the Business Marketing Association |
| Serves the professional, educational and career development needs of business-to-business marketers. |
| www.marketing.org |
  |
| Welcome - American Marketing Association - www.marketingpower.com |
| Dedicated to serving the educational and professional needs of marketing executives. |
| www.marketingpower.com |
  |
| Advertising, Marketing, Media and PR News - Brand Republic |
| Find the latest Advertising, Marketing, Media and PR news from Brand Republic, the online resource for up to the minute advertising and marketing news and ... |
| www.brandrepublic.com |
  |
| Marketing Magazine - Marketing News - Brand Republic |
| Marketing Magazine - Marketing News - Brand Republic. |
| www.brandrepublic.com |
  |
| Marketing (Canada) |
| Offers a Canadian source of news and articles on marketing, advertising and media. |
| www.marketingmag.ca |
  |
| BidVertiser - Pay Per Click Advertising On Sites Of Your Choice. |
| Pay per click advertising - online advertising directly on sites of your choice, internet marketing solution for online advertisers. |
| www.bidvertiser.com |
  |
| Online Behavioral Contextual Advertising and Marketing. |
| Promote your business with today's most effective online advertising technology, contextual advertising at a cost effective metric of CPC, PPC, CPM or CPV. |
| www.clicksor.com |
  |
| Sales Jobs / Marketing Jobs / Advertising Jobs - MarketingJobs.com |
| Employment site for marketing and sales professionals. |
| www.marketingjobs.com |
  |
| The Chartered Institute of Marketing |
| The Chartered Institute of Marketing is the world's largest international marketing professional body and helps with career support and information ... |
| www.cim.co.uk |
  |
| Marketing: See what people are saying right now on Technorati |
| See all blog posts tagged with marketing on Technorati. |
| www.technorati.com |
  |
| Marketing Profs - Marketing Concepts and Strategies: Expert ... |
| Marketing knowhow from professionals. Newsletter, articles and how-to's. |
| www.marketingprofs.com |
  |
| Guerrilla Marketing Online - The Official Site |
| Guerrilla Marketing Online is anonline magazine for small business, entrepreneurs, sales people and marketers of all kinds. |
| www.gmarketing.com |
  |
| Business Marketing - Small Business Marketing |
| Business marketing - Read everything your need to know about small business marketing. |
| www.entrepreneur.com |
  |
| All About Marketing |
| Adapted from Field Guide to Nonprofit Program Design, Marketing and Evaluation ... Inbound Marketing Includes Market Research to Find Out: ... |
| www.managementhelp.org |
  |
| Pages tagged with "marketing" on del.icio.us |
| USA Network Announces a NASHVILLE STAR Marketing Partnership With ... - Yahoo! ... Direct Marketing Association: Telephone, Mail & Internet Marketing ... |
| del.icio.us |
  |
| ClickZ Internet Marketing Solutions for Marketers |
| Includes columns with commentary and analysis on a wide variety of internet marketing subjects ranging from B2B marketing to search engine marketing. |
| www.clickz.com |
  |
| Direct Marketing Association: Telephone, Mail & Internet Marketing |
| Trade association for users and suppliers in the direct, database and interactive marketing fields, offering seminars and resources, and lobbying for ... |
| www.the-dma.org |
  |
|