HomeNetMonies.com
 
Top Pick!

Subscribe to our FREE Home Business Tips Newsletter with hundreds of money making tips and tricks. Enter your contact info below and click: "Free Signup!".
Your privacy is guaranteed.

E-Mail Address:

First Name:


Links

Residual Income Programs

     

Articles and Tips

     

Recommended Products

 

Internet Marketing

     

 


eBooks

     

Website Promotion

     

Website Development

     

Psst!...Have you Heard the Buzz?
There's a new, fully automated traffic-generation system that can send thousands of targeted prospects to your website, every single day, for FREE! It takes just 5 minutes to set it up, and it's totally "viral"

OPEN A FREE ACCOUNT HERE!

Recommended Sites:



 

 
HOME - Home Business Articles
Understanding the Difference Between Marketing and Promotion
Copyright Stone Evans, The Home Biz Guy
http://www.pluginprofitsite.com/main-11531


Are you an online marketer? Or do you simply promote affiliate programs? Marketing is truly the most misunderstood word in use today on the Internet. Let me see if I can clarify this issue just a bit.

In Marketing 101 at your local university, marketing is actually the process of Product, Place, Price and Promotion.


PRODUCT

No business can exist without a product or service to sell.

In a nutshell, entrepreneurs are the people who believe in a product, service or idea, so much that they are willing to invest their lives into the development of their dream.

Historically, every major corporation in the world was started by an entrepreneur with a dream and the drive to make it a reality.

However, there comes a time in the life of every corporation when those who fear the gambling nature of their founder, squash the entrepreneurial drive that made the company a viable concern in the first place. The entrepreneur will either submit to the careful nature of the stockholders, or he will be forced to leave the company he created.

The only entrepreneurs who withstand the pressure to move more carefully are those who have maintained majority control over their companies.


PLACE

In the offline world, place is defined by location. On the Internet, place is defined by domain name and the web hosting service chosen.

Both online and offline, place can make or break a company without respect to the quality and value of the product, service or idea.


PRICE

Selecting a price is determined first on a basis of whether the company wants to be seen as a discount or a value company.

Take for example Wal-Mart and Staples.

Wal-Mart is the lead discounter in the marketplace. Staples on the other hand is the specialist in office supplies.

Both sell a significant number of office supplies despite the fact that the lowest price can usually be found at Wal-Mart. As a value dealer, Staples can afford to charge more for their products than Wal-Mart.

So the question for you is whether you want to position your company as a discount or value company.

Testing has shown that products and services can be sold at any number of prices and still reach a significant number of people.

The challenge of selecting the best price for your product or service will require a certain amount of testing.


UNDERSTANDING THE PRICING EQUATION

Let's assume we are selling a product. Let us also assume that we know that the product can be sold for $10 or $50. Let us also assume that if the price dips below $10 or rises above $50, then the product sales fall off significantly.

Our challenge is to determine the best rate at which to sell our product.

Testing has shown us that we can sell 1000 items a week at $10. Testing has also shown that we can sell 500 items per week at $50. And testing has shown that we can sell 650 items per week at $45.

At $10, our projected weekly earnings are $10,000. When we sell the product at $50, we know that we can earn $25,000 per week. Most importantly, we know that we can earn $29,250 when our product is priced at $45.

With the imaginary testing we have done on our imaginary product, we can easily see that selling our product at $45 per item will earn us more money over the long haul.

Thus, when we make the decision for a national rollout of our product, then we will price our product at $45.

Of course, this is a very simplistic analysis of the point I am trying to make. Though simple, I believe this analogy will help you understand the methods of developing a product's prices.


PROMOTION

Promotion, on the other hand, is the process of notifying the consumers for your product or service of your availability to serve them.

Methods of promotion vary distinctly and should be arranged to meet very specific goals.

As with product, place and price, promotion should not be left to chance. You should test every ad, every media, and every price point to determine the best bang for your promotional dollars.


HEADS UP!

If you are an online promoter or marketer, please factor in the most important element concerning the cost of your promotions.

What element is that? Your time!

Value your time at a certain dollar amount, and figure in your time into the cost of your promotional accounting.

I say this because too many online promoters lose sight of this concept and spend 20 hours to generate one sale while using free advertising. Even if you rate your time at the federal minimum wage, then you will have invested $105 of your time for one sale that might only net you a gross sale of $45!


ARE YOU TRULY A MARKETER OR ARE YOU JUST A PROMOTER?

Most people who run a business on the Internet call themselves marketers. Yet, most of these same people are really just promoters wrapped in the label of a marketer.

True marketers do not promote without a lot of advance work. They spend time planning, testing and measuring their actions and results to get the most out of every dollar spent and earned.

Entrepreneurs finesse the art of marketing as they build their company into a major enterprise.

If you are a promoter who does not keep an eye on the total marketing equation, then you are bound to fail.

If you do call yourself a marketer, then do what a professional marketer does. Make sure that every dollar spent is spent well. Make sure that every dollar earned is put to good use. Market well so that when the people of the next generation look at your life, they will see a fine example of a successful entrepreneur that they will strive to emulate.



-----------------------------------------------------------------
Stone Evans will help you setup your very own money making
website today that's 100% ready to take orders and pull in
MASSIVE PROFITS for you right now...GUARANTEED! Plus, you'll get
your own pre-written ezine-in-a-box customized and setup for you
absolutely free WITHIN 24 HOURS!! Get started immediately at:
http://www.pluginprofitsite.com/main-11531
-----------------------------------------------------------------

Reprinted with permission from the Plug-In Profit Site Free Website Builder.
Secrets of Internet Millionaires

 

More Home Business Articles

Promoting Your Business with a Copper Wire? Think Again.
So many people launch their first or second business with the misconception that they can survive without advertising. It is their fear of failure that almost single-handedly assures their failure. They fear spending the money that they need to get and keep their business running during those early years of their operation. [read more...]

How to Calculate ROI (Return On Investment)
ROI (Return on Investment) is probably the most important calculation one needs to make to ensure the long-term viability of their business. It is not enough to build in a profit margin on the product or service being offered. One must track with proficiency the amount of dollars being invested into attracting sales and how much ROI those dollars put back into the business. [read more...]

Tracking Offline Advertising Success by Measuring ROI
The great promise of online advertising has always been that advertisers will now be able to effectively track the successes and failures of their online advertising efforts. This promise has been met. [read more...]

How To Measure Advertising Success Online
It is easy for me to tell you that you need to track the success of your online advertising. It is also easy for me to tell you that you must do so in order to know which of your advertising is helping you to make a profit, to break even, or to break the bank. Far too many advertisers get caught in the online money
pits in an effort to develop their online business. [read more...]

How to Maximize the Value of Your Time
How is your business doing? Is it growing, stagnating or losing ground? If your business is not growing, it could be the result of a poor business idea or plan, a lack of advertising, or the mismanagement of your business’ resources. [read more...]


Home Business Opportunities

Plug-In Profit Site™ - Complete Money Making Site Setup FREE!
Launch your very own money making website today that's 100% ready to take orders and pull in massive profits for you right now...guaranteed! I will get you setup and ready to start making money from the comfort of your own home by this time tomorrow. [click here...]

FREE! Work At Home Business Opportunity
Retired? Unemployed? Laid-Off, or Insufficient Income? Start your own Internet business from home. Build residual and leveraged income to create real wealth. World Wide Income System that REALLY WORKS! All it needs is you. FREE Training and support, websites and products all provided! - ZERO RISK! [click here...]

Allen Says' Internet Warriors - The Only Home-Based Marketing Group On The Internet That Has Actually Helped Thousands Of People Start Making Money From Their Homes!
If you have been looking for a way to make money on the Internet from home, you can stop looking....you just found it. I can almost guarantee you have heard about us already, but it's hard to find out who really does come through for you and who doesn't isn't it? [click here...]

A Swarm Of Traffic To Your Website
There's a new, fully automated traffic-generation system that can send 1000s of targeted prospects to your website, every single day, for FREE! It takes just 5 minutes to set it up, and it's totally "viral"... Check it out and create a FREE account today! [click here...]

This Company Has Cut $10,000+ Checks For People Who Worked Its Plan For Only 30 Days!
The Internet is growing up, and it is now opening up MORE opportunities than ever before for individuals like you and me — creating more millionaires than any other medium in history! In fact, right now you can join an incredible opportunity to capitalize on this on-the-verge-to-explode home based Internet business trend today! [click here...]


Internet Marketing Resources

What if I could show you how to start an Internet Business in less than 24 hours, and see profits by next weekend — would you be excited?
I now make $7.6 million per year... But if I had to start again from SCRATCH, this is how *I* would build my first Internet business in less than 48 hours and see profits by next weekend..." [click here...]

The so-called "experts" are NERVOUS...
I'm giving away my most advanced e-mail marketing secrets — stuff that even they don't know about! So for the first time ever you can... [click here...]

At Last, You Can Package And Sell Information Online Using The Same Tool We Used To Make $254,049* Selling Just One eBook!
Announcing "eBook Pro," the only software in the universe that makes your information virtually 100% burglarproof! It comes with a comprehensive one-year, money-back guarantee, and it's available for a short time at less than 1/500th of its original cost... [click here...]

I still can't believe I'm doing this...
I've spilled the beans about how ANYONE (no matter who you are OR what your background is) now has the opportunity to build a wildly successful Internet business*... And I've wagered over $68,792 to prove I can show even a complete beginner exactly how it's done! [click here...]

-- FOR IMMEDIATE RELEASE -- EXCLUSIVE INTERVIEW!
Learn how this regular guy from Oregon has been quietly raking in $32,876 A DAY with his ugly, outdated web site — WITHOUT spending a dime on traffic or advertising! [click here...]

Discover The Insider Secrets To These True Internet Marketing Success Stories...
Real people are making $30,000 to $2,000,000 each year with their Internet home-businesses — hear their stories and learn how they did it... Straight from the horse's mouth! [click here...]

Terms of Service - Earnings Disclaimer - Privacy Policy