Discussion Questions Essay Example | Topics and Well Written Essays - 500 words - 28

Discussion Questions - Essay Example A longer productive business life means a steady profitability for longer and for all these to be achieved, effective marketing of the company’s products and services must be carried out. Marketing is done mostly through advertisements and promotions. These two services are important to any established business venture. For these two to succeed, they have to be supported by a brand position statement that embodies a factor of production that the firm takes pride in. For instance, these may include high quality products, low prices, convenience among other attributes. When choosing a brand positioning tool, care must be taken so that it gets straight into the minds of the target audience. Taking pride in quality means that prices should not matter to the customers; no matter how high the goods and services are priced, they will still access the market. Trying to convince a customer that a product is of a high quality and low price is never achievable. A marketer must thus stay open minded and be keen enough to grab an opportunity where others opt not to see any. The essence of setting up any business is to benefit from accrued profits. The strategy for attaining success differs from one business to another. Some concentrate on quality while others concentrate on sales brought in from the products offered. When expanding one’s customer base, it is very likely for the business to engage in activities that will lower earnings but in the long run, the business stays viable for longer and promises and steady flow of income from the increased customer size (Kotler 78). While the manager who is interested in profits will be exploiting a limited customer base, the other who believes in expansion will seek to get more. Some of the methods of doing this include price reductions and the provisions of other incentives. Chances are high that these incentives will attract customers from the other business. After a short period of time, as the