Module 12: Traditional vs. Online Marketing
Presented by Frances Harder with Syama Meagher (Owner of Scaling Retail)
Understanding the ‘types’ of buyers that you are selling to is the first step when marketing you line. As a manufacture you improve your chances of selling your product to buyers if you can strategically identify what type of buyer you are working with. Choosing the right strategy to achieve the sales target is perhaps one of the most important decisions you may ever have to make in order to become a successful manufacturer. Marketing encompasses all the activities directed towards the successful sale of your product. This includes planning market research, customer buying habits, advertising, promotions, public relations, pricing strategies, merchandising, and packaging. Successful marketing of your company will include the ability to identify trends, a strong sense of timing, creativity and, most importantly, the ability to grow with the continuing fast changing technological world of sales all balanced within your financial constraints. E-tailing is making in-roads into the apparel marketplace. Cash flow is good on the sales side, but inventory stock can be a drain. There are many different options to sell and market your product. You may choose a more traditional method using a sales representative for the bulk of production, but opt to move some of your product via the Internet for a faster or immediate turnaround.