Types of Marketing

Types of Marketing

The concept of marketing encompasses a wide coverage and may even be associated with sales. In fact, sales and marketing are two different concepts although both are closely coordinated. Marketing is the presentation of the products and services and making them available to the customers with the goal of generating profits.

Sales, on the other hand, is the output of marketing implementations. A business produces good product sales out of effective marketing programs while poorly planned marketing plans end up in low sales generation.

Focusing more on the concept of marketing, a business organization must invest in intensive marketing activities, what with the stiff competition that exists in almost every kind of industry. Marketing introduces your products and services to your potential customers and target market. It is an important factor in the success of a business.

Marketing is otherwise known as advertisement of the products and services that your company can offer to the market. So, the old maxim that no advertising is the worst kind of advertising remains to be true especially at this time when modern marketing methods have been introduced.

Marketing can be conducted in various types and techniques. A company can invest in any marketing technique that works best and is effective to the customers. But in this article, let us mention three proven types of marketing that most companies have been using in their product and services campaigns.

Offline Marketing

The advent of modern marketing has been very helpful for most business, but traditional marketing is still as effective and powerful as it used to be. Not to be overlooked in this age of computers and internet technology, offline marketing is still widely used by many businesses.

Tri-media or advertising through print ads, television, and radio have proven to be effective means of advertising and increasing product awareness even until now. Newspapers continue to be used actively and widely circulated by many print media organizations where businesses occupy portions and spaces in the Classified Ads to introduce their products and services.

However, companies reap more benefits if online and offline marketing methods are combined. A good example is the use of direct mail in order to lead customers to the company website. In fact, a company can save a lot with proper combination of marketing methods since offline marketing can be costly.

Online Marketing

Online marketing is equally powerful and effective as offline marketing. In fact, companies save a lot on their marketing campaigns which are done through the internet. Small-scale businesses can benefit greatly from online advertising if marketing budget is an issue.

Apart from the savings a company can get, it can also advertise its products alongside large-scale companies. Affiliate marketing is a common type of online marketing where a company ties up with an affiliate or an online advertiser that will take care of advertising the company’s products and services to thousands of online users. Another example is online video campaign with a production cost that is a lot lesser than television advertising.

One particular advantage of online marketing over traditional forms of advertising is that it can easily reach a huge number of individuals in a short span of time. Plus, the advertisement lasts longer and is unlimited.

Word of Mouth Advertisement

Word-of-mouth marketing is probably the best form of advertisement a company can ever invest in. Not a single penny is spent by the company with this kind of advertising; only excellent customer satisfaction is needed to make this campaign effective. Always keep a proactive approach in dealing with customers and go the extra mile. Building good relationships with customers keeps them in the business. The good news is they will tell their friends and people they know about your company and the kind of customer service you have. With an effortless process, your customers gradually increase in number which in turn increases company profit.

Ads

In business, companies must understand that everything is a risk. Even the cost of investing in marketing campaigns is a risk since it is not a guarantee that the company will succeed. But a company that will not make the move to be known to the public will also run the risk of losing the business eventually because of lack of public awareness on the products and services. Any type of marketing can be effective as long as a proper marketing strategy is designed.

Socio Economic profile in bangladesh Top important questions answer

Socio Economic Profile of Bangladesh

What are the structural adjustment policies in relation to self-reliance in Bangladesh?

Ans: This report aims at improving our understanding of the impact of structural adjustment policies (SAP) on the environment in Bangladesh. Obviously, the domain of SAP is very broad and may not be always well defined, so are its impact on environment. However, one advantage of this study has been that the domains of SAP and their impacts on environment have been determined through a lengthy process of three regional consultative meetings, six focus group discussions and a workshop at the national level (Bhattacharya and Titumir 1998a). The value added from the current exercise lies in rationalizing a jigsaw puzzle already solved by the people – i. e. looking up and assembling secondary evidence to establish the link between SAP policies and its impact on environment in Bangladesh.

The structural adjustment policies in relation to self-reliance in Bangladesh: The participants in regional consultative meetings and focus group discussions expressed their views on many aspects of environment. Obviously, the impact of SAP on environment will vary by region and also the understanding of the impact will also depend on the type of the participant. Many issues came up in the consultative process and these issues have been summarized with the help of Figure 1. The impact on environment originates from the negative externalities that arise from pursuing a set of development strategies. In the present context the key development objectives are increasing food production and pursuing an export-led growth strategy. The World Bank “supported the Government’s primary objective to increase food grain production, to the end of attaining self-sufficiency and a more equitable income distribution (World Bank 1990, p. iii, underline original). The World Bank also supported the strategy of the Government “to develop a broader and diversified industrial and export base” (World Bank 1990, p. iv, underline original). Also the outcomes of these objectives were desired to be  rapid, “the World Bank Group’s mission is to help Bangladesh reduce poverty by promoting  rapid, job-creating economic growth and interventions ” (World Bank 1998, p. 1, author’s underline). These two sets of development strategies were thought to have generated two sets of environmental impacts as depicted in Figure 1. Note that the two sets have been separated for the purpose of exposition whereas in reality such separation may not be possible. For example, privatization (as a policy for following an export led path of growth) is likely to have an impact on the use of spurious fertilizers (as an element of the growth objective of increasing food production) if not regulated properly. Let us look at the first set of cause and effect. Excessive emphasis on (rapidly) increasing yield has led to excessive use of fertilizers. On the other hand current input pricing policy distorts related prices of various types of fertilizers (say between phosphatic and nitrogenous fertilizers as we will se later) resulting in the use of an unbalanced mix of fertilizers. Such pricing policy may have led to use of spurious fertilizers as well. Liberalization of imports may also have resulted in excessive use of fertilizers or use of spurious fertilizers or use of an unbalanced mix of fertilizers. Thus excessive use of fertilizers, use of spurious fertilizers and their use in inappropriate mix may have caused land degradation as reflected in a decline in micro nutrient and erosion of soil fertility. This set of “cause and effect” chain takes us to the major issue of fertilizer policy.

The second set of cause and effect takes us to the issue of shrimp management policy. The specific structural adjustment policies here involve promotion of non-traditional exports and privatization. Availability of cheap labour and supply of a product of nature helped shrimp producers and exporters to benefit from market opportunities outside. Shrimp culture in the coastal region of Bangladesh has resulted in many negative environmental consequences. One of them is increased salinity of soil and the another is loss in biodiversity (resulting from shrimp seed collection and throwing away of by-catches).

Thus the environmental impacts of SAP call for participation of the civil society in the formation of two sets of policies: fertiliser policy and shrimp management policy. Such participation essentially means pressurising the policy  makers to incorporate environmental consequences in the policy formulation process.

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2. What are the features of foreign trade of Bangladesh? Discuss the necessity of import in Bangladesh. Do you think import is essential for increasing export volume from Bangladesh? If yes, why?

Ans: The features of foreign trade of Bangladesh: Trade is an integral part of the total developmental effort and national growth of all economies including Bangladesh. It particularly plays a central role in the development plan of Bangladesh where foreign exchange scarcity constitutes a critical bottleneck. Export trade can largely meet ‘foreign exchange gap’, and export growth would increase the import capacity of the country that, in turn, would increase industrialization, as  well as overall economic activities.

Bangladesh’s import needs are substantial; hence the need to rapidly increase exports is immediate.  In order to finance the imports and also to reduce the country’s dependence on foreign aid, the Government of Bangladesh has been trying to enhance foreign exchange earnings through planned and increased exports. However, the global trade scenario has exposed structural limitations of the Bangladesh economy, posing a variety of challenges for the country that has underdeveloped technology and a low capital base.

In this paper we discuss the composition, performance and trends of foreign trade of Bangladesh. In the process, we examine Bangladesh’s export and import performance compared to those of various countries, regions and the world over the years. We also discuss the sources of Bangladesh’s imports and directions of

Bangladesh’s exports and the dynamic changes over the years, and highlight the trends of export and import shares to GDP and trade balance positions with different countries, regions as well as the world. Trade policy reforms of Bangladesh and major issues, challenges and policy options are also discussed briefly.

The necessity of import in Bangladesh: To analyze the import composition of Bangladesh it is observed that the import share of principal primary commodities (in total imports) showed a declining trend in recent years. On the other hand, the shares of principal industrial goods and capital goods reported a slight increase. The import payments for principal primary commodities, in  FY 1998-99, were US$ 1,448 million representing 18.06% of total import payments. These figures decreased to US$ 980 million and $ 1,098 million (11.66% and 11.73% of total import payments) in FY 1999-2000 and 2000-01 respectively. The import shares of principal industrial goods increased to 14.58% and 15.34% in FY 1999-2000 and FY 2000-01 from 13.77% in FY 1998-99. The share of import payments for capital goods in total imports increased to 25.63% in FY 2000-01 from 24.56% in FY 1998-99. Import payments for rice and wheat significantly decreased in FY 1999-2000 and FY 2000-01 compared to FY 1998-99, which implies that the country is making progress in food production. The share of import payments for petroleum products increased significantly in FY 2000-01 compared to FY 1998-99. Total import payments stepped up to US$ 9363 million in FY 2000-01 from US$ 8403 million in FY 1999-2000 recording an increase by 11.42% (GOB 2002; Bangladesh Bank 2002-03).

Yes, I think import is essential for increasing export volume from Bangladesh.

If you want to start an import export business, there are so many things that you need to consider. You should be well versed with the different facets of the industry and you need to possess the right knowledge.

 

Getting the needed licensing requirements and contacting the consulates or embassies are some of your tasks.

Today, international trade is really among the hottest industries because countries from all over the world has their respective supplies of merchandise and commodities that other countries need. Because of this, trading has already existed since prehistoric men, the biblical age, and the great caravans. Thanks to the modern technological advances, import export businesses today are quite rewarding in terms of personal satisfaction and profit.

Importing and exporting is big business. Savvy traders will surely love the benefits of this type of business. The import business is very popular because of availability, cachet, and price. Importing is necessary since one can’t possibly grow everything in his or her home country. Another thing is that a lot of people think that buying imported items like Egyptian cotton, French perfume, German beer, and Scandinavian furniture is better than buying the ones found locally because they think that the items are classier. Did you know that some imported items are cheaper than the ones found locally? Some great examples are Mexican clothing, Taiwanese electronics, and Korean toys. Two factors can affect the import and export business – the available resources in the local area and the technology. For example, if one country has an extensive resource of oil and refinery technology it ill export oil to other countries but in turn it will need to import clothes.

This kind of business is not for everyone. If you’re the kind of person who is sales-phobic, this may not be the business opportunity for you. You need to enjoy making follow-ups and sales pitches. Aside from that, you should be an enthusiastic person, good in tracking shipping receipts and invoices, and most especially, you should be excited in dealing with different kinds of people and cultures. Having some background in the import export business is an advantage. By the time you open your business, you should be well versed. Adequate preparation is necessary if you want to succeed.

You should contact the embassies and consulates of other countries and establish communication. A registration number is required and you can obtain it from the local taxation department. You will need to comply with the various licensing requirements. Choose to export in countries where there are no trade barriers so that you can conduct business smoothly. You will also need to secure a Letter of Credit and you can check with the bank about it. As you can see, there are so many considerations so try to prepare ahead of time.

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3. Mention the objectives of SAPTA. How is SAPTA important for Bangladesh economy?

Ans.: THE OBJECTIVES OF SAPTA:
1. To gradually liberalize the trade among member countries of SAARC.
2. To eliminate trade barriers among SAARC countries and reduce or eliminate tariffs.
3. To promote and sustain mutual trade and economic cooperation among member countries.

ADMINISTRARION OF SAPTA: SAPTA agreements are administered on the following lines.
1. The benefits to the members countries are accorded on equitable basis of reciprocity and mutuality .
2. The agreement would be improved step by step to mutual negotiations
3. The agreement takes the special needs of less developed countries into consideration.

Following the ratification of SAPTA by all member states, the 16th session of the council of the ministers (New Delhi , December 1995) agreed that member states should strive for the realization of a South Asian Free Trade Area ( SAFTA).
An Inter Governmental Expert Group (IGEG) on transition to SAFTA comprising experts from the member countries was set up as an ad-hoc body by the CEC to identify the necessary steps towards moving into a free trade area.
The IGEG had met twice and held in depth discussions and agreed on the draft terms of references for the group and had also drawn up a broad frame work of action plans for achieving SAFTA.
In order to give impetus to intra-SAARC trade under the SAPTA agreement and to promote economic cooperation in the region, the commerce ministers of SAARC countries met in New Delhi in Jan 1996. It was since been decided that the commerce ministers shall meet annually and second meeting was held in Islamabad in April 1998.

SAPTA important for Bangladesh economy: The South Asian Free Trade Area or SAFTA is an agreement reached on 6 January 2004 at the 12th SAARC summit in Islamabad, Pakistan. It created a free trade area of 1.6 billion people in Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka (as of 2011, the combined population is 1.8 billion people). The seven foreign ministers of the region signed a framework agreement on SAFTA to reduce customs duties of all traded goods to zero by the year 2016.

The SAFTA agreement came into force on 1 January 2006 and is operational following the ratification of the agreement by the seven governments. SAFTA requires the developing countries in South Asia (India, Pakistan and Sri Lanka) to bring their duties down to 20 percent in the first phase of the two-year period ending in 2007. In the final five-year phase ending 2012, the 20 percent duty will be reduced to zero in a series of annual cuts. The least developed nations in South Asia (Nepal, Bhutan, Bangladesh, Afghanistan and Maldives) have an additional three years to reduce tariffs to zero. India and Pakistan ratified the treaty in 2009, whereas Afghanistan as the 8th memberstate of the SAARC ratified the SAFTA protocol on the 4th of May 2011.

Abstract: One major trend in the global economy in recent years has been the accelerated movement towardregional economic integration. Among the various possible levels of economic integration SAPTA is at thevery beginning stage. The main objective of inception of SAPTA was to give leverage to the trading of theSAARC member countries. In this article, through using ANOVA (both one factor and two-factor withreplication) technique, it has been tried to find out whether there is a significant change in trading had beenmade. In overall sense, it can be said that the change in trade is significant, though such change is notsignificant for each of export and import of each of the countries.

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4. What is current population growth rate in Bangladesh? Do you think that population growth is a burden for Bangladesh? If yes, Why? How can we transform this burden into blessings for the economy?

Ans.: Current Population growth rate in Bangladesh: 1.579% (2012 est.)

The average annual percent change in the population, resulting from a surplus (or deficit) of births over deaths and the balance of migrants entering and leaving a country. The rate may be positive or negative. The growth rate is a factor in determining how great a burden would be imposed on a country by the changing needs of its people for infrastructure (e.g., schools, hospitals, housing, roads), resources (e.g., food, water, electricity), and jobs. Rapid population growth can be seen as threatening by neighboring countries.

Source: CIA World Factbook – Unless otherwise noted, information in this page is accurate as of July 26, 2012

Yes, I think that population growth is a burden for Bangladesh.

Bangladesh currently has a population approaching 150 million and will add another 100 million before stabilizing, unless fertility can soon drop below replacement level. This level of fertility decline will require a change in marriage patterns, which have been minimal so far, even with increasing female schooling. It would also benefit from a long-awaited shift to long-term contraception. In addition to the consequence of huge population size, the density of population is already five times that of any other ‘mega’ country (>100 million), a very challenging situation for an agricultural society. Most of the future growth will be urban, increasingly in slums. Numbers of young people will not increase, but numbers of older people will increase 10-fold this century, creating a large burden on the health system, especially for chronic illnesses. High density of population means that agricultural land is virtually saturated, with very limited capacity to expand food production. Climate change may have dramatic impacts on agriculture, through flooding and drought resulting from weather changes and geopolitical influences on transborder rivers. Rising sea-levels and consequent salinity will affect crops and require shifts to alternative land use. Serious long-term planning is needed for meeting the growing needs of the population, both for distribution and consumption.

Can we transform this burden into blessings for the economy: A puzzling feature of the fertility plateau was the fact that contraceptive prevalence rates (CPRs) continued to rise steadily throughout the 1990s, from 44.6% (1993/1994) to a peak of 58.1% in 2004, followed by a slight fall to 55.8% in 2007, due to a fall in traditional methods. Experience from other countries suggests that such a rise in the CPR would produce a concurrent decline in fertility. Recent studies have not satisfactorily explained this paradox. An examination of the range of fertility determinants indicates that potentially important factors, such as delayed age at marriage, do not appear to have played a counter-balancing role in the Bangladesh case; nor have less powerful factors, such as postpartum amenorrhoea linked to breastfeeding, changed in any significant way. There has been a gradual shift in the use of permanent and long-term contraception towards a greater dependence on temporary methods, but this is mainly among older fertile women who are not contribu- ting much to overall childbearing rates. One possible factor may be that adoption of modern contraception has gradually been substituting for reliance on induced abortion. This pattern, seen in Matlab (2,3), appears to require quite high levels of CPR before a substitution begins to take place. This may well be context-specific and presumably depends on the level of fertility and the speed of the decline.

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5. What main hazards does Bangladesh face due to climate change? What can be done by the government or the individuals to minimize the climate risk?

Ans.: Main hazards does Bangladesh face due to climate change: Climate change deals with variations in climate that is, any long term change in the statistics of weather over periods of time that range from decades to millions of years. It encompasses all forms of climatic inconstancy (that is, any difference between long term statistics of the meteorological elements calculated for different periods but relating to the same area) regardless of their statistical nature or physical causes (Enzler 1998).  The term is often used in a more restricted sense to denote significant change in the mean values of a meteorological element ( in particular temperature or amount  of precipitation) in the course of a certain period of time, where the means are taken over periods of the order of a decade or longer. Climate change may occur in a specific region or across the whole earth.

Can be done by the government or the individuals to minimize the climate risk: There is currently no requirement for local authorities to take action on climate change. This coupled with limited funding means there is a significant risk that local authorities will not develop and implement sufficiently ambitious low-carbon plans. This report emphasizes the crucial role councils have in helping the Bangladesh government meet its carbon targets and preparing for the impacts of climate change. It outlines specific opportunities for reducing emissions and highlights good practice examples from a number of local authorities. The Committee recommends that a statutory duty and/or additional funding is needed to ensure local authorities have stronger incentives to act.

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