LESSONS TO LEARN FROM MULTI-LEVEL MARKETINGWritten by Geraldlene Nelson
Most people have thought, at one time or another, about starting their own business, and advent of e-commerce has made it easier than ever before to turn these dreams into reality.Many people, however, are skeptical when they hear terms like "Multi-Level Marketing" or "Network Marketing." In fact, you do not have to love multi-level marketing in order to use some of its principles to your advantage. Here are some aspects of multi-level marketing that you can use to make your own home based business more effective and efficient. 1. Tax Advantages: Take advantage of some of tax breaks accorded to home endeavors, such as multi-level marketing businesses. If you have a physical inventory that you are storing in a separate room, you can possibly claim storage costs as a write-off. The same goes for a separate phone line and/or computer equipment that you use exclusively for business purposes. If you have to travel for your home business, this is also a possible source for a tax break. One way to make it easier for you to claim these tax breaks is to set up a separate checking account for your business expenses -- this will make it much less frustrating to sort out personal expenses from business ones, and will make your deductions more credible. 2. Marketing Advantages: Even if you are skeptical about multi-level marketing techniques, they often have very powerful marketing networks in place that you can use to your advantage.
| | Don't Make Them Regret Buying What You're Selling!Written by David Russ
Most people don't know what real definition of marketing is. In general, they mistake marketing as being synonymous with advertising, sales, or promotion. Marketing is a highly evolved science of making a profit from transactions. It is, in fact, a very broad term. Whether you work for a business, a nonprofit organization, a services organization, or an organization that sells goods, definition of marketing is same: It's process of identifying consumer wants or needs and then identifying ways of meeting those wants or needs at a profit to marketer. MARKETING ISN'T JUST PROMOTING AND SELLING! Why is it important to understand definition of marketing? It's because we often think that all we have to do is promote a product and it will sell. However, as what definition of marketing points out, marketing involves first finding out what people need before figuring out how to get them to buy a product. THE 4Ps OF MARKETING! In order to fully understand definition of marketing, marketers often break down its definition into what is known as "4 Ps of Marketing." The 4Ps are: - Product - Place - Promotion - Price It's marketer's job to find or invent product to be sold, plan ways to get it to a particular place (distribution or logistics), promote it to its target audience, and determine price it should be sold at. IT'S ALL BECAUSE OF THE CUSTOMERS! Why do marketers take 4P approach? This is because marketing is based on concept of customer retention. This concept states that customers who are happy with product they receive will come back again and or tell their friends about product. This is very important because estimates for most industries state that it costs at least five times as much to find new customers as it does to retain current customers.
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