Dodo Loves Marketing

Market research is also invaluable in pricing your product or service. Ron Flounders, of Hertfordshire Business Link, which offers free advice to start-up businesses, says that all too often people work out their pricing ‘back-to-front’. They ask themselves how much they need to earn, what their costs are, and then price the product accordingly — regardless of what the market will pay. In fact, what you need to do is market research to establish what price the market will pay, then work out your costs and from that see whether it is worth going into business at all.’ ..more

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Now that we have examined some of the negatives of expansion from a very small business to a medium-sized small business, let’s give equal time to the potential benefits.

One of the most important components of gross profit is the degree to which you’re able to set your selling price. Your ability to set that price is largely a function of your control of the marketplace. At one extreme, you may have a patented product for which there is no substitute, and for which there is totally elastic demand (people will buy it at any cost). If that item costs you a dollar, you may be able to sell it for ten dollars, one hundred dollars, even one thousand dollars. At the other end of the spectrum, you may be selling wheat in Nebraska. In that case, it’s unlikely that you’ll be able to command one-tenth of one cent over the market price on the day you sell. ..more

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Making The Deal

When you finally find a car that looks good, runs well, and seems like a fair deal, go back with a parent or friend—someone who’s more objective than you are. It’s easy to get infatuated with a car and miss some of the troubling details. Be sure to ask the owner about the car’s history of accidents and repairs. You may not get a straight answer, but it’s always wise to ask. Also, ask for records of maintenance and repairs. A person who keeps a file of receipts is generally someone who takes care of cars.

If it still looks like a good deal, take it to a mechanic. He can run simple tests on the car, inspect the brakes and fluids, and tell you if there’s anything scary lurking out of view. If the car has big problems, look for another—you don’t want to be buying someone else’sproblems. If the car passes your mechanic’s inspection, make an offer. ..more

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For many people, buying a car is their first big-time investment. But for most of these investors, it’s also their first leap into debt’s bottomless pit. Can you actually buy a good car without going into debt? How can you keep from losing your shirt to an unscrupulous seller? I’ll show you how to pay cash for a great, reliable, used car—and why doing it any other way is just plain silly.

The New Car Myth

When most people dream of owning a car, they think of a new car. They’re shiny, they’re reliable, they’re great fun to show off to your friends. And best of all, they have that intoxicating new-car smell. ..more

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Discounts, savings appeals, and urgency ploys are the most popular sales tricks. But there are many others. Here are a few to watch for:

Bait and Switch

The “bait” is usually an advertisement offering something at a ridiculously low price. When you go to the store to check it out, the salesman tells you it was already sold, then offers you something else—at a higher price. For example, a dealer might advertise a killer deal on a new car. When you show up, the car has been sold, but you can buy the same model, with more features, for just $1000 more than the advertised model. You’re sold. ..more

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‘Every time a friend succeeds, I die a little.’

Promoting the sale

You have provided dynamic, written material, you have had a successful appointment and the potential client seems pleased by what you have to offer. However, he or she is wavering about giving you the business project and, as always, you realise that you have hungry competitors wanting the business, too. In this case, a special offer on your part can make the difference. It says, ‘I really want your business.’

The essence of sales promotion is that it must be easily understood and relevant to your product. It will seem ludicrous to consumers to receive a free embroidery kit if they are buying a puppy! With this principle in mind, let’s look at some examples.

Promotional techniques

In hairdressing you can promote your business using hairdressing products. In fashion, you can use accessories or perfumes. With books you can offer membership to a book club. Your offer must always sound right and be related in some way to your product or service. Here are a few types of special offers you can consider; they represent some of the best promotional vehicles I’ve seen in the past few years, with the exception of competitions, which I have included for discussion only. ..more

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How many people really succeed?

There are no precise answers to this question and certainly not everyone becomes successful. Some drop-out must be expected from any downline. It would be a miracle if everyone who joined stayed. This would defy human nature!

Anyone starting in network marketing should realise that a large percentage of their downline will do little or nothing. Many will become inactive distributors (product users only). Many active distributors do not make much of an attempt at making a profit or making their business grow, and some drop out altogether.

However, by understanding what causes new distributors to drop out, you can minimise it in your network and ensure that your network becomes a success. Remember that not everyone in your network needs to become a superstar to make you successful. Even if most members of your network merely buy products for themselves and a few friends, you can have a hugely successful business. ..more

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