Marketing Management

Marketing management involves choosing target markets that not only get new customers but also retain the existing ones. It is a business subject, which is based on research and study of practical applications of marketing techniques and management of the marketing resources. The one who excels in this field is known as marketing manager. The job of the marketing manager is to influence the timing and level of customer demand so as to help the sales. It actually depends on the size of the business and environment in the corporate industry. Like if he is working in a huge production company, he will be the general manager of a particular product category assigned to him and he will be responsible for profit and loss with respect to the product. And in small business there is no marketing manager as his job is taken over by the partners of the company.

Creating and communicating best customer values can increase the number of customers. The steps taken and resources utilized to maintain existing customers and get new customers fall under marketing management. The scope is quite large because it not only consists of developing a product, but also retaining it. The term marketing management has many definitions. It actually depends on individual firms and how the marketing department functions and activities of other departments like operations finance, pricing and sales. 

Before deciding about a marketing strategy, the company must do an in-depth study about their business, and the market. This is where marketing management merges with strategic planning. Usually the marketing strategies are of three types, customer analysis, company analysis and competitor analysis. Using the customer analysis, the market is broken down into different types of customers. The marketing management realizes the characteristics and other variables of each group. They are geographical location, demographic, customer behavior pattern and need. Like a group of people can be recognized who can be less price sensitive, purchases often and are growing. Such groups can be worked on by heavy investments as they are worth the money and time. They cannot only retain such customers and make new customers in this group but they can go to the very extent of turning back customers who don't belong to this group. Understanding the needs makes customer's expectations to be met per their satisfaction, better than the competitors, which will lead to higher sales and obvious profit.

Company analysis highlights the cost structure and resources of the company and cost position when compared to competitors. The accounting executives use it to learn about the profit earned by a particular product. From time to time, audits are conducted to study about the strengths of various brands of the company.

Marketers using competitor analysis build detail customer profiles. It gives a clear picture about the strengths and weaknesses of the firm, when compared to a competitor. The competitor's cost structure, resources, competitive positioning, degree of vertical integration, product differentiation, and profits are studied in detail and are compared to what company is doing in those regards.

The marketing management to do marketing analysis carries out marketing research. The most common of such researches are qualitative marketing research, quantitative marketing research, experimental techniques and observational techniques.

After all the studies and researches are conducted, its easier for the marketing manager to make strategic decisions and they then can design a marketing strategy to increase the profits and revenues of their company. The other goals can be profit over the long run, market share, and revenue growth.
 

Digital Marketing

Utilizing online distributions methods to promote products is known as digital marketing. This approach is both time saving and cost effective. Digital marketing is done through items such as cell phones, SMS, MMS, instant messaging, websites, emails, banner advertisement and digital billboards.

Digital marketing involves some of the techniques of direct marketing and Internet marketing. In digital marketing traditional methods of promotions are executed digitally. It involves marketing in two forms, pull and push.

Pull digital marketing requires the user to pull or extract the content directly. The customer has to approach the promotional matter and see the matter by himself. Examples are websites, forums and web logs. All these require clicking on a URL in order to view the content. The content that is being displayed doesn't have to follow any guidelines. Effort is required to only display the content on the website or forum and there is no additional cost of sending the information to the customer, but the customer has to make the extra effort of reaching to the content .The customer doesn't have to opt-in for such kind of promotion and one message is being viewed by all and it cannot be personalized. The customers who see the content cannot be traced, although the click through rate can be considered which give details about the number of clicks the message received. This is be done by enabling the click though tracking during the campaign, which records the information.

Push digital marketing technologies requires the effort of both the marketer and the customer. The marketer has to push or send the content to the customer and the customer has to make the effort of receiving it. This is a very effective kind of marketing and the investments surely earn a big return as it creates brand recognition. SMS, MMS, emails, RSS podcasting are examples of push digital marketing. Since the content is sent to individuals, it can be personalized according to the intended recipient. Whether the message has been opened and viewed by the customer or deleted it can be tracked and reported. Information related to the customer such as name, geographical location could be traced. But when sending this king of message, certain criteria should be met as the SMS and emails sent are monitored. If the marketer doesn't follow the rules and regulations properly, there is a possibility of messages getting rejected and blocked, before they reach the targeted audience and the message is considered to be spam. Bigger consequences involve marketers getting blacklisted temporarily or even permanently. The number would be blocked and they won't be able to send any messages at all. Messages sent to the RSS feeders require a mechanism with an application to reach, when sent by an email marketing system. 

Both forms of digital marketing should be used in consonance to achieve positive results. A smart marketer sends out emails along with SMS and uses multiple channels to market his products. The type of messages being sent should also be different from one another. They should not only be text, but animations, audios and videos. There is a possibility of using pull and push message technologies in conjunction like the email sent to a potential customer can have a URL or a banner ad, which on clicking downloads information. If there is enormous group of people to be reached via email, Email service providers can be hired who sends loads of emails to the customers on behalf of the marketer and they take measures so that the messages are not considered as spam.

Although much of the marketing is opt-in, federal laws, such as CAN SPAM Act, have been passed to protect the customers from unscrupulous marketers who would go to any extent to promote their products or hackers or spammers who have a bad intent i.e. like harming the computer or installing adware, spyware on people's computers.

The Disadvantages of a Career in Financing

When we were young, we already had an idea of what we want to be when we go grow up. Sometimes, these changes as the years go by. While there are advantages in whatever profession we choose, we should also look at the disadvantages if this for instance will be a career in financing.

What is wrong with financing? If you think about it, nothing given that it is an honest job with a considerable rewards. But not everyone will be able to stay here for the long term which is why you have to weigh the pros and cons.

First, can you see yourself doing mathematical computations and giving advice to someone who is probably earning more than you? The truth is, some people can while others can't.

The best test of all will be how well you excel in subjects like calculus and economics in school. You have to be able to understand these concepts and then use these tools to your advantage. Then again, there are people who may be good in one subject or both while there are those who will probably excel in other subjects.

Learning concepts is one thing but doing this job every single day is another. A good idea will be to talk to professionals who are already in the financial industry and see how it is working there. Make up a list of questions and ask for clarifications if there is something that you do not understand.

It will also be a good idea to read up on the finance industry so you know what you are getting yourself into 4 years from now once you graduate from college.

If you still choose to have a career in financing, here are some of the disadvantages you will hear or experience. You shouldn't be discouraged about them but keep them in mind as you are starting your career in finance.

Professionals who have obtained their CPA's and start work as accountants do not earn that much compared to those who are involved in investment banking and consulting. Also, they handle multiple projects at certain times especially during the end of the financial year or when it is time to file income tax that means overtime just to get the job done.

There is also the pressure given that you are in a fast paced game and you are dealing with other people's money. If you screw up, this could mean financial ruin for them and you will be hired on the spot. But those who succeed can get a promotion, earn much more than they did before and even get to work abroad.

If you think about it, there are advantages and disadvantages in just about any job or career that you decide to pursue. How you are able to deal with it is the challenge that you will have to face on your own. Those who can stand the pressure will probably stay for the long term while those who don't will quit and shift into another career.

Doing some research and getting your feet wet will probably give you an idea of how things are like working in the finance industry. This is what on the job training or internships are for so you know what its like in the real world.

With this information, you can then see if the advantages outweigh the disadvantages for you to purse a career in financing.

Steps Towards an Insurance Agent Finance Career Change

Everything changes. Nothing in this world is permanent except change. The dream of an insurance agent finance career change may not be just a dream. It is possible and will come true if one knows what to do in order to achieve what they want to happen.

Insurance Agent 101

Who are these people who are known as the insurance agents? They sell policies that have something to do with insurance to different individuals. This is why they are also known as insurance sales agents.

These agents are classified according to groups. They may be captive agents. These agents work for one insurance company and their job is to sell the products of that company. The brokers, also known as independent agents of insurance are affiliated with different companies.

The clients for this workforce are the families, even individuals and certain businesses. It all depends on the type of policies that they are selling. Some examples of these policies are health or life insurance, property, even casualty, disability and those that cater to long term care. These agents may also sell variable type of annuities, or mutual funds and other kinds of securities.

There is really no educational requirement to be able to succeed in this type of work. A person needs to be able to strategize on their selling skills. There are some companies that require their agents to be college graduates. Others may even prefer those with a degree in business. But for other firms, a high school diploma would suffice.

There are different processes regarding the renewal of license for the agents in different US states. All these states oblige every insurance agent to have a license. They need to get different licenses depending on what kind of policies they are selling. Many states even require these sales agents to fulfill a pre-licensing course and then pass the examinations prepared by the state where they are.

Decided to Move On

Being an insurance agent is a profitable career, especially if you are good in sales. But if you are really decided to make the move for a career change, then here are some tips for you to think about.

First, think hard. See if the other opportunities are really better. Weigh every option. Finding a new job may be easy. But finding the job that would really fulfill you may be the harder part. So think about everything and decide on your own if you really need to make the leap.

You also have to see the world in general. What are your options? Do you think it will be easy to penetrate that other field? Do you think that you can handle the sudden diversion of things after making the move towards the other career? If so, then maybe you really are better off with that especially if you are no longer being fulfilled by your current job.

You better have a list of goal. Include on that list the ways in which you would like to attain those goals. It will be easier for you to shift if you have other plans that you can fall back on if you did not succeed with the first action.

An insurance agent finance career change is an achievable aim. All you have to do is persevere and know what you are getting into before deciding to get out to where you used to be.

Protecting Your Affiliate Commissions

There are numerous software products on the market
that range from 15 – 50 dollars for special types
of software that’ll assist you in protecting your
affiliate marketing commissions. The effectiveness
and ease of use for the programs range greatly, so
before you buy one, you should always learn as
much as you possibly can.

Banner servers
Banner servers not only serve banners, as many of
the more recent servers will also display text
links as well. The link coding that’s associated
with served ads is normally long, so that the
visitor won’t be able to see on the status bar
where the redirect is heading.

Click tracking software
Click counting software will not show the target
URL as the links point inwards to the software,
which is normally installed on your own website.

Once someone has clicked on the link, the click
tracking application will then redirect the
visitor to the URL that you have specified within
the script. The click tracking software will also
provide a great way to monitor the usefulness of
your ads and not just relying on the reports
that merchants will provide.

Protecting your commissions is extremely important,
as you want to get paid for what you do. Even
though fraud is possible with affiliate marketing,
you can protect yourself. Fraudsters have certain
techniques and tactics they use, which you can
protect yourself from.

If you own your own business, the last thing you
want to experience is either credit card fraud or
affiliate fraud. They do happen on a regular
basis, simply because those who have it happen
haven’t taken the necessary steps they should
have to protect themselves.

Right of first refusal is not a restriction on the freedom to transfer under section 111A

Introduction

1. the concept of free transferability of shares in a public company under section 111A of the Companies Act, 1956 is perhaps most significant unresolved controversy in Indian corporate law contemporaneously. Once the question was raised whether the right of first refusal (pre-emptive rights) at the meeting and the joint-venture agreement constitutes a restriction on the free transferability of the shares. Right of first refusal is a commonly used device in the corporate world. Under the right of first refusal, a party planning company second exit, is obliged to give the first party (Facilitator) the chance to buy the shares before shares can be sold to a third party who is a party. This is basically to prevent easy entry of third parties into the company by buying shares of the party wishing to exit the company. Many unlisted companies, as well as some of those listed, have such agreements with major shareholders.

Right of first refusal if they violate section 111A

2. in the recent ruling by a Division Bench of Bombay High Court in the case of Messer Holdings Ltd. v. Shyam Madanmohan Ruia decided 1 September 2010 and reported in [2010] 98325 CLA has established such a restriction on the transfer of share with the “right of first refusal ‘ clause of the agreement (pre-emtive) does not violate the provisions of section 111. In paragraph 55, Khanwilkar, j., stated as follows:

‘ [T] he expression ‘ freely transferable “in section 111A doesn’t mean that the shareholder can not enter the consensual agreement/contract with a third party (proposed assignee) in relation to its specific actions. If the company wants to prohibit even that right of shareholders, it may be necessary to provide for a condition expressed in the articles of association or in the Act and rules, possibly in that account. The statutory provision is obtained in the form of section 111A of the Companies Act does not specifically restrict or remove the right of shareholders to conclude the contract/agreement by mutual consent in respect of shares held by him.

This is a reversal of an earlier court judgment only in the case of Western Maharashtra Development Corporation v. 131 (Bom.) Bajaj Auto Ltd. [2010] CLA decided on February 15, 2010, holding that section 111A mandates that there can be no restriction on the transferability of shares in a public company. As a result, was held a concession agreement a right of first refusal in respect of such actions blatantly illegal. Justice D Y Colucci in the case said said the following:

‘ The principle of the free transferability must be given a wide size to meet the object of the law. Impose restrictions on the principle of free transferability, is a legislative function, simply because the premise of free transferability has been enunciated as a matter of legislative policy, when Parliament introduced section 111A. This is a precept of the Association that governs the discourse on the transferability of the shares. The word “transferable” is the widest possible import and Parliament by using the expression “freely transferable”, has strengthened the legislative intent to allow transfers of shares of public companies in a free domain. The effect of a pre-emption clause is to impose a restriction on the free transferability of shares by transfer rules laid down in section 111A a pre-emptive right created by agreement between the parties. This is unacceptable. ‘

This ruling in the case of Western Maharashtra (supra) had put India in a fix, with many companies facing the prospect of having to rework their sharing agreements with foreign investors. However, the recent decision of Messer Holdings Ltd. (supra) came as a great relief for companies and private equity funds that invest in these companies. The ruling also goes on to suggest that it is not mandatory for the company to be part of such an arrangement to share transfer restrictions and does not need to integrate the transfer quota restrictions in the articles of Association of the company.

111A section does not apply to a private company

3. restriction on the transferability of the shares of a private company must be contrasted with cases of public companies where the law provides for free transferability. Free transferability of shares is the norm in the case of shares in a public company. As regards private companies are concerned, the articles of Association restrict shareholders ‘ rights to transfer the shares and ban the invitation to the public to subscribe for shares or debentures of the company.

Right of first refusal is not a restriction on the freedom to transfer under section 111A

Introduction

1. the concept of free transferability of shares in a public company under section 111A of the Companies Act, 1956 is perhaps most significant unresolved controversy in Indian corporate law contemporaneously. Once the question was raised whether the right of first refusal (pre-emptive rights) at the meeting and the joint-venture agreement constitutes a restriction on the free transferability of the shares. Right of first refusal is a commonly used device in the corporate world. Under the right of first refusal, a party planning company second exit, is obliged to give the first party (Facilitator) the chance to buy the shares before shares can be sold to a third party who is a party. This is basically to prevent easy entry of third parties into the company by buying shares of the party wishing to exit the company. Many unlisted companies, as well as some of those listed, have such agreements with major shareholders.

Right of first refusal if they violate section 111A

2. in the recent ruling by a Division Bench of Bombay High Court in the case of Messer Holdings Ltd. v. Shyam Madanmohan Ruia decided 1 September 2010 and reported in [2010] 98325 CLA has established such a restriction on the transfer of share with the “right of first refusal ‘ clause of the agreement (pre-emtive) does not violate the provisions of section 111. In paragraph 55, Khanwilkar, j., stated as follows:

‘ [T] he expression ‘ freely transferable “in section 111A doesn’t mean that the shareholder can not enter the consensual agreement/contract with a third party (proposed assignee) in relation to its specific actions. If the company wants to prohibit even that right of shareholders, it may be necessary to provide for a condition expressed in the articles of association or in the Act and rules, possibly in that account. The statutory provision is obtained in the form of section 111A of the Companies Act does not specifically restrict or remove the right of shareholders to conclude the contract/agreement by mutual consent in respect of shares held by him.

This is a reversal of an earlier court judgment only in the case of Western Maharashtra Development Corporation v. 131 (Bom.) Bajaj Auto Ltd. [2010] CLA decided on February 15, 2010, holding that section 111A mandates that there can be no restriction on the transferability of shares in a public company. As a result, was held a concession agreement a right of first refusal in respect of such actions blatantly illegal. Justice D Y Colucci in the case said said the following:

‘ The principle of the free transferability must be given a wide size to meet the object of the law. Impose restrictions on the principle of free transferability, is a legislative function, simply because the premise of free transferability has been enunciated as a matter of legislative policy, when Parliament introduced section 111A. This is a precept of the Association that governs the discourse on the transferability of the shares. The word “transferable” is the widest possible import and Parliament by using the expression “freely transferable”, has strengthened the legislative intent to allow transfers of shares of public companies in a free domain. The effect of a pre-emption clause is to impose a restriction on the free transferability of shares by transfer rules laid down in section 111A a pre-emptive right created by agreement between the parties. This is unacceptable. ‘

This ruling in the case of Western Maharashtra (supra) had put India in a fix, with many companies facing the prospect of having to rework their sharing agreements with foreign investors. However, the recent decision of Messer Holdings Ltd. (supra) came as a great relief for companies and private equity funds that invest in these companies. The ruling also goes on to suggest that it is not mandatory for the company to be part of such an arrangement to share transfer restrictions and does not need to integrate the transfer quota restrictions in the articles of Association of the company.

111A section does not apply to a private company

3. restriction on the transferability of the shares of a private company must be contrasted with cases of public companies where the law provides for free transferability. Free transferability of shares is the norm in the case of shares in a public company. As regards private companies are concerned, the articles of Association restrict shareholders ‘ rights to transfer the shares and ban the invitation to the public to subscribe for shares or debentures of the company.