The Main Tasks of The Trade Marketing
How to increase the number of sales? How to attract the attention of new customers?
These issues are of concern to many entrepreneurs. Try such a tool as trade marketing.
It is sometimes confused with strategic sales planning, but this is a separate mechanism. It has to do with increasing demand, improving interaction with partners, suppliers. With it, your customers get access to your products through a properly organized distribution chain. In other words, this is the process by which you provide an affordable offer to meet consumer demand.
What Is “Trade Marketing”?
Trade marketing is the direction of marketing, the goal of which is to increase the effectiveness of interaction between all subjects of the marketing channel – from the producer to the buyer. That as a result leads to an increase in the number of sales, product recognition among customers, attracting new customers.
Typical trade marketing tools include bonuses; discounts; bonuses to sales staff in the performance of assigned marketing tasks, promotions, contests, distribution of free samples, etc.
Trade marketing actions, assist in solving problems related to the expansion of distribution, increase in the volume of purchases, management of warehouse balances, development of communications between business partners, personnel control, etc.
To more accurately reveal the essence of trade marketing, you need to familiarize yourself with its tools. They can be divided into the following groups:
– discounts for those who are engaged in wholesale;
– discounts for those who are engaged in retail sales.
This tool includes both the discounts for regular customers and seasonal discounts.
Rewards for the trade workers
– remuneration for the fulfillment of the plan;
– gift certificates;
– rewarding for the work done, etc.
Attracting customers with
– all kinds of promotions;
– Presentation of new products; sales;
– lotteries, etc.
Trade Marketing Today
Today, almost all entrepreneurs who offer services to retail customers are dealing with commercial marketing in their business. But not everyone understands how to properly conduct it. In addition, different companies have different requirements for their marketers and different conditions for cooperation with partners and suppliers. For someone it is an independent, separate strategy, for someone, it’s just a support function.
Wholesale Customer Types
Wholesale organizations, as a rule, include various types of distributors, distribution centers, and sub-distributors. Depending on the number of levels in the supply chain, these wholesalers can be direct buyers or indirect buyers. The main advantage in working with wholesale partners is their ability to effectively deliver different products, from many manufacturers, in small quantities in many different outlets.
Retail Customer Types
The retail trade consists of a wide range of different types of outlets. Often classified by type of ownership. In some cases, controlled retail trade may be represented by more than one level of supply. It can be in the form of a chain that is under the control of distribution centers. A good example of a large controlled chain of retailers will be Wal-Mart. With thousands of stores and dozens of distribution centers, Wal-Mart operates under a single corporate control system and is represented by at least two levels of the supply chain.
Types of Trade Channels
While trade channels and different types of outlets are slightly different in different marketing models, they are often used interchangeably in simpler models. A short list of trading channels in the standard supply chain can include the following:
-Store for home appliances;
Trade marketing components
The components of trade marketing can be divided into 3 groups, depending on the type of activity and the role of the company. These categories may vary depending on the company, but one model that is used around the world includes a strategic, operational and executive group.
Trade Development Program;
Sales and operational planning;
Management of accounts;
Management of commercial premises;
Increase the number of contacts;
Work with clients;
Events, building relationships with customers.
To achieve the maximum result, you must perform the following tasks:
Studying the target audience. This helps to attract customers’ attention to the goods correctly and effectively.
Active promotion of goods.
Securing information about the product in the buyer’s mind.
In other words, doing everything to interest a person to buy your goods.
Support of the company’s competitiveness
Finding the way to complete customer satisfaction and its provision.
Increasing the number of regular customers.
Improvement of advertising policy
Development of marketing communications.
Usage of new types of product advertising.
Providing product information to the customer.
Analysis of customer behavior
An analysis of all the factors that somehow influence the buyer’s decision-making.
Increase the time of the potential client’s stay on the company’s website.
Increase in the number of purchases made by the buyer.
If you accomplish these tasks, then you very easily increase the number of buyers and the income from your products. Applying different strategies will help to increase the recognition of your company among potential customers, and this directly affects the amount of sales.
More inTrade & Markets
These are the Fantastic Benefits of Carpooling
With more and more people becoming environmentally conscious and financially savvy, the concept of carpooling has really taken off lately. And...February 7, 2023
Matthew Perry is Parting with His Quarantine Home on One of Malibu’s Most Prestigious Streets
Leaving by the beach is something that many people dream of. Well, ‘Friends’ actor Matthew Perry has lived that dream and...February 7, 2023
Finding A Job Successfully in A Dismal Job Market
The United States Bureau of Labor Statistics recently reported that almost 600,000 people had lost their jobs, bringing the country’s unemployment...February 6, 2023
We Bet You Didn’t Know How Charitable These Celebrities Are – Part II
Some celebrities have donated their time and money to help in worthy causes while some have mentored specific programs or have...February 4, 2023
IRA Bonds: To Invest or Not To Invest?
IRAs or Individual retirement accounts are considered as long-term investments, which could be in the form of stock funds. Bonds are...February 4, 2023
5 Signs of An Ideal Loan
How should the ideal lender and the ideal loan be like? Loyal and undemanding, distributing large amounts for a long period...February 2, 2023
DIY Streetlight-Style Security Lamps for Your Home
Streetlight-style security lamps are all the rage right now among suburban real estate owners. Not only do these lamps contribute to...February 2, 2023
Is Buying Your Love a Diamond Engagement Ring Really A Good Investment?
Man (not to forget the ladies) has had an obsession with gold for hundreds and thousands of years, but diamonds are...February 2, 2023
Why the Green Trade is the World’s Newest Market
The Industrial Revolution started out promisingly enough, using air and water to power production and innovation. As needs grew, however, it was...January 30, 2023
You must be logged in to post a comment Login