Market Traders Institute | Guide to successful Trading
Market Traders Institute, Guide to successful Trading, Starting a business is easier than managing the business. first, you need a correct business idea, starting from discovering business niches, and defining your target.
Market Traders Institute – Guide Overview
creating content and campaigns that they love. The good news is that you have the power to grow your organization with a brilliant marketing strategist.
always remember that every business needs a direction and every marketing campaign needs a very good budget.
you must be sure that you are successful as well as your campaign.
What is trade?
Trade is economic which involve buying and selling goods and services with the exchange of goods or service between the parties.
A trade takes place between a producer and a consumer at the same time trades like international trade take place between two countries or more in other to expand the market for both goods and services.
International trade is one of the most reasonable markets containing greater competition and therefore more competitive prices, which brings a cheaper product home to the consumer.
Who is a trader?
A trader can be anyone from an individual investor to a global institute.
during the primitive time, people traded but through a barter system ( trade by barter ) a trade by barter is the exchange of goods and services without the use of money. barter involves the direct exchange of goods and services for the other goods and services.
If a trade is between two people it can call a bilateral trade and if it is between more than two people it can be called multilateral trade.
As a trader one of the keys to successful trading is to take trading as a business. trading business needs a strategic plan that includes short and long-term goals, and the amount of capital available for the business.
Currently, there are two basic ways to execute a trade: That is on the exchange and electronically.
What is a marketing strategy?
A marketing strategy is a business overall plan for reaching a possible number of consumers and turning them into customers of their product and services. it is the long-term planning of business objectives that the company wants to achieve.
Understand that the strategy must allow needs, desires, problem-solving, or take advantage of habits and customs that the target audience has.
To achieve this purpose it is important to choose well the specific actions to consolidate the reputation of products and services or increase sales in the market. Utilizing opportunities is vital to find the target market and to be able to make customers loyal to the organization so that the positioning of the company gets stronger.
It is important to define how you want to position the product/service in the market.
To achieve positioning among customers and fulfill customer and organization relationship loyalty.
Is the method to create sales opportunities, also to communicate and position the product or service, and translate the operational lines that allow reaching a target market through the right channels
You need to know the four marketing mixes that are the 4ps of marketing which are very important strategies to generate profit in the company they are
- product strategy
- pricing strategy
- distributing strategy
- promotion strategy
Difference between marketing Strategy and marketing plan
Many people use to confuse marketing objectives with marketing plans, but they are different concepts,
Marketing strategy explains the objectives which the company is to achieve, And it is determined by the company’s objectives just like Goals and Objectives must go hand in hand.
for example, to achieve a higher market share, Ad to develop a marketing campaign that reaches, identify identifies, and focuses on the specific segment.
A marketing plan is a map that guilds you from one point to another on how you are going to achieve the marketing goals.
The marketing plan shows you how you will achieve the marketing goals which you have set. For example, it could be to implement a successful market strategy and achieve a higher market share.
How to develop an effective trading strategy
It may not be easy to have a successful marketing strategy but with some simple tips, you can see that it is simple it is all about your determination.
You have to know your competition and know what you offer to clients that your compactors do not have. you have to know the value you add that others do not have.
There are several ways to make to make a marketing strategy effective, the are the following:
- Analyze the position in the market
identify the target audience the competition and what is happening in the company. you have to define the aspect that is the stronghold and those that you should optimize.
- Establish Goal
You have to create an achievable brand and sales objectives at the same time determine the timeframe to achieve those objectives.
- Design the tactics
Examine the landscape and create the line of your actions based on the strategies you know.
- Implement controls
You have to define how you will measure the achievement of your goals and how you expect performance, to enable the business to grow fast.
The following are types of marketing strategy
Here is the list of what you should note today:
Portfolio Marketing strategy
In this, You determine the stocks that are sold and the ones that are not sold.
The one that is not been sold has to be discontinued in the manufacturing process.
Segmentation Marketing Strategy
decides the segment in which the market has been classified. The segment is in three types:
Differentiated: An identified different market segment and positioning. the strategy has to have a higher cost, but it will allow satisfying a specific need of the selected segment.
Undifferentiated: the segment with a different need is identified sometimes the company chooses to address them with the same offering other to get the largest number of customers.
Brand Positioning Marketing Strategy
this involves defining the brand that the company wants. that is defining how the company wants its name to be associated. It can be with the product cover, the company’s image, and the use of the company’s product.
Functional Marketing Strategy
It is formed by the 4ps of marketing the four variables are the product, price, distribution, and promotion.
Marketing Strategy with the Competition
This one focuses on competitive values. You have to know your position in the market
against your competitors,
Loyalty Marketing Strategy
This maintains customers’ Loyalty, this can include discounts on the amount of the goods. promotions and gifts are involved.
Direct Marketing Strategy
In this, the customers receive a direct message from the company. the customers enjoy the fact that they communicate directly with who they buy goods.
A marketing strategy is a comprehensive plan formulated particularly for achieving the marketing objectives of the organization.
This is the building block of the marketing plan.