What Is Undercover Marketing?

Also known as buzz marketing or stealth marking, undercover marketing is a marketing approach that is used to attract the interest of customers without making those consumers aware that they are being subjected to a marketing approach. This process relies heavily on the basics of viral marketing, a strategy that involves spreading the word about a good or service from one person to another. Often, the approach is somewhat low key, does not appear to have a great deal of direct involvement with the producer of the product, and may even include the distribution of free samples to target customers.

There are many examples of undercover marketing in use today. One common approach is to engage the services of a well-respected public personality, such as a performer. The performer is then seen by the general public using the goods or services produced by the business, but without any specific type of sales pitch taking place. The performer may offer to share the product with others in his social or business circles, and may even offer a testimonial of the benefits derived from the use of the product. This approach often works based on the rapport that already exists between the performer and interested consumers. In this way, undercover marketing has shown a fairly consistent ability to produce sales over time.

Another example of undercover marketing is one individual's endorsement of certain goods or services to others that are part of his social network. This may include friends, family, coworkers, neighbors, or anyone with whom the individual interacts from time to time. The idea is that at least a few of those contacts will be intrigued enough to try the products for themselves. In the event they also find the products beneficial, they in turn will share the buzz or the good news with the people they come in contact with on a regular basis. This stealth approach to marketing can be extremely effective in terms of reaching consumers who tend to be on their guard when it comes to television commercials, email solicitations, or splashy advertisements in magazines and newspapers.

One of the benefits of undercover marketing is that it can be an extremely cost-efficient way to reach consumers. Assuming that the effort is launched properly, and the products are high-quality and deemed affordable, the potential of this strategy is virtually unlimited. Because undercover marketing relies heavily on relationships and the establishment of trust between people, it is able to reach consumers who may not be easily swayed by more aggressive and conventional methods.

Like any marketing strategy, undercover marketing can be abused. When this takes place, the process is often referred to as roach baiting. Essentially, this means that efforts were made to mislead consumers into liking the product by making a product appear to be something that it isn’t. This can include overstating the attributes of the product, or making claims for its effectiveness that are simply not supported by the available evidence.

What is Timing the Market?

Timing the market is a strategy to buy and sell investments at a preferred price. This includes stocks, bonds, commodities, mutual funds, index funds and real estate. Every financial market experiences fluctuations in their trading range based on news factors such as financial reports, news reports that directly impact the company or product, stock and bond payouts, supply and demand, and the economic health of the industry and nation.

By studying these indicators and the cycles of your particular vehicle of investment, you can predict the market direction. This will enable higher returns as you buy and sell at premium prices. The goal in timing the market is to buy as the price bottoms out and begins to gain momentum and to sell just before the price peaks. Several market strategies are available to help predict where your investment instrument is in the cycle.

The Price/Earnings ratio (P/E), the dividend yield, the price-to-book ratio, the prime rate and the federal funds rate are a few examples of ways to monitor investments for timing the market. Many brokers and investment strategists monitor the up and down cycles and the existing conditions at the time in order to predict market trends. It is important to remember that buying on news is not a good market strategy because by the time news is announced regarding a particular investment instrument, the market has already factored it into the price.

When purchasing mutual funds or index funds, you are buying a composite of securities and the price will not be as volatile. It is helpful to investigate the trading curve for the last few years. This will show you the pattern of the curve so that you can predict when the best time to buy and sell.

The real estate market moves in longer, slower cycles, which suggests staying power is your best strategy for timing the market. For securities, many order types are available in timing the market. Each is unique, depending on your goals and preferences:

• “fill-or-kill order” – instructs a broker to sell an investment at the specified price or better. If the transaction is not immediate, the order is cancelled automatically.

• “limit order” - specifies a buy or sell at a specific price or better.

• “market order” - will negotiate a transaction at the current market price.

• “market-if-touched order” - is similar to a stop order in that it becomes a market order if a specified price is reached. However, a buy market-if-touched order is entered at a price below the current price, while a sell market-if-touched order is entered at a price above it.

• “not-held order” - allows floor brokers to take more time to buy or sell an instrument, if they think they can get a better price by waiting.

• “one-cancels-the-other order” - two orders in one, generally for the same security or commodity. This order instructs the floor brokers to fill whichever order they can first and then cancel the other order.

• “specific-time order” - couples many of the other order types with instructions that the order must be carried out at or by a certain time.

• “stop order” - tells a floor broker to buy or sell an investment once a specific price is reached. These are often called “stop-loss” orders because they are frequently used to protect profits or limit losses.

• “stop-limit order” - turns into a limit order when an investment trades at the price specified in the order. Unlike stop orders, they demand that the trades be made only at a specified price.

• “short” - is to sell stock before buying it in the hope that the price will decline, allowing the investor to purchase the shares at a lower price.

Timing the market can be more certain when predicated on these safeguards. In all legs of investing, buying low and selling high is the purpose, strategy and goal of timing the market properly.

Strategic management is a business approach that is utilized to make the most efficient use of available resources in the process of operating a company. The idea behind any strategic management process is to evaluate the current status of the operation and all its individual components, identify whether those components are being utilized to best effect, and to develop and implement changes when and as necessary. When utilized properly, this approach can improve the overall performance of the company, move the business closer toward reaching its stated goals, and keep the cost of raw materials and other resources in balance with the returns generated by the business effort.

The foundation of any strategic management approach is to define the basic reason for the existence of the operation. This means developing a workable mission statement for the company, defining objectives that are in line with that mission statement, and developing policies and procedures that move the company closer to achieving those objectives. As part of the process, companies must take into account the resources on hand and those that can be acquired when and as needed, and determine how to use those resources to best effect.

Once the structure is in place, strategic management calls for making sure the defined policies and procedures are being observed in every area of the operation. Here, managers, overseers, and supervisors must be well-versed in the essentials of strategic management, and learn how to use the resources placed into their care to best effect. This often translates into knowing how to communicate with employees effectively, understanding the production process thoroughly and being able to articulate why a given process is important to the overall success of the operation. When this is the case, the task of allocating tasks and resources to best advantage is easier to accomplish, and enhances the chances for the business to perform at optimum efficiency.

Strategic management is not a concept that applies only in large companies. Even small businesses that employ no more than one or two people can benefit from the basics of this approach. While the exact nature of the processes and tasks required for operation will be different between a mom-and-pop retailer and a multi-national corporation, the general idea behind this management process will still be valid. By applying the principals to the real-life situation of the business, it is often possible to maximize use of available resources, minimize waste in the workplace, and ultimately have a positive effect on the bottom line of the company.

What Is Share of Wallet?

Share of wallet is a concept in marketing that refers to the percentage of a person's total spending dedicated to buying products and services from a particular company. Companies can conduct surveys to determine their share of wallet within given demographics to learn more about how their customers are interacting with them. There are numerous tactics that can be used to increase total spending by customers on a given company's products. For companies that want to increase revenue, there can be advantages to focus on expanding spending among existing customers rather than trying to attract new ones.

The more products and services a company offers, the greater its share of wallet will be. Companies can expand their offerings by developing related products that customers will buy because they have positive associations with a brand, or by branching out into new areas of an industry. Existing customers may switch loyalties because of their association with the brand, or consider adopting new products and services because they are offered by a trusted name.

Companies compete with each other for share of wallet. Many companies use tactics such as becoming a one-stop shop for customers, making it easy for people to get everything they need in one place. This can woo customers away from competitors who offer a more limited range of products. Revenue per user increases in response, and over time, the company can broaden its customer base by attracting people on the basis of recommendations from existing customers.

Focusing on developing new customers can be costly. People must be persuaded to buy products in the first place and the payoff may be in the distant future. By contrast, developing better share of wallet is usually less expensive and can have more benefits in the long term. Existing loyal customers can be enticed to spend more and the ability to access a range of services and products may increase positive opinions of the company. This will lead to recommendations to friends and family, increasing market share in the long term.

Surveys to determine share of wallet can be used as a research tool to develop ideas for new products and services. Exploring interest from customers in new offerings is helpful for companies that are considering expanding production, acquiring other companies, or developing new business ventures. Companies can also keep track of suggestions, recommendations, and questions from customers to determine what kinds of products and services appear to be most in demand.

What Is Profitability?

Profitability refers to the potential of a venture to be financially successful. This may be assessed before entering into a business or it may be used to analyze a venture that is currently operating. Although it may be found that one set of factors is not likely to be successful or has not been successful, it may not be necessary to abandon the venture. It may instead be feasible to change operational factors such as pricing or costs.

There are three basic situations that can describe a business’ financial situation. It can be profitable, it can break even, or it can operate at a loss. In most cases, an organization’s goal is to make a profit.

When there is constant or abundant cash flow, it can be difficult to determine profitability. It is easy for a person to make the mistake of linking numerous incoming and outgoing transactions with profit. Spending and receiving money, however, does not mean a business is in a healthy financial state.

To determine profitability, it is necessary to access the price of the goods or services being offered. There are several things that need to be considered when prices are established. This includes variable costs such as fuel, labor, and inventory, and it also includes fixed costs such as mortgage, repairs, and taxes.

Yield must also be considered. This refers to the amount of products or services produced within a certain time frame or from a certain amount of materials. For example, if a full tank of gas is only sufficient for two deliveries, the price is likely to be higher than it would be if a full tank of gas could accommodate six deliveries. If the price for two deliveries were priced the same as six deliveries, it is likely that profitability would be jeopardized.

Tracking profitability may require two things. First, a business will likely need good and accurate records of its expenses. Second, depending on the size and complexity of the venture, a person with good accounting skills may be needed to ensure proper calculations.

There may be a number of parties interested in the profitability of a particular venture. For example, sometimes people are owners of businesses but they are not operators, giving them a reason to be interested in the financial health and direction of the venture. Stakeholders who have money invested are also likely to be highly concerned with the profitability of a business. Employees, especially those at the managerial level, should also care because lack of profit can threaten job security and may damage a person’s professional reputation.

What is Outsourcing?

Outsourcing refers to a company that contracts with another company to provide services that might otherwise be performed by in-house employees. Many large companies now outsource jobs such as call center services, e-mail services, and payroll. These jobs are handled by separate companies that specialize in each service, and are often located overseas.

There are many reasons that companies outsource various jobs, but the most prominent advantage seems to be the fact that it often saves money. Many of the companies that provide outsourcing services are able to do the work for considerably less money, as they don't have to provide benefits to their workers and have fewer overhead expenses to worry about.

Outsourcing also allows companies to focus on other business issues while having the details taken care of by outside experts. This means that a large amount of resources and attention, which might fall on the shoulders of management professionals, can be used for more important, broader issues within the company. The specialized company that handles the outsourced work is often streamlined, and often has world-class capabilities and access to new technology that a company couldn't afford to buy on their own. Plus, if a company is looking to expand, outsourcing is a cost-effective way to start building foundations in other countries.

There are some disadvantages to outsourcing as well. One of these is that outsourcing often eliminates direct communication between a company and its clients. This prevents a company from building solid relationships with their customers, and often leads to dissatisfaction on one or both sides. There is also the danger of not being able to control some aspects of the company, as outsourcing may lead to delayed communications and project implementation. Any sensitive information is more vulnerable, and a company may become very dependent upon its outsource providers, which could lead to problems should the outsource provider back out on their contract suddenly.

While outsourcing may prove highly beneficial for many companies, it also has many drawbacks. It is important that each individual company accurately assess their needs to determine if outsourcing is a viable option.

What Is Marketing Control?

Marketing control refers to the process by which a company manipulates its marketing plans to reach its original goals. This process is achieved by setting up performance standards that will ideally be reached at each step of a marketing campaign. If these standards are not being met, corrective action needs to be taken. There are many methods of achieving marketing control, which can include but are not limited to market research, analysis of financial signposts like market share, sales, and cash flow, and customer relations information gleaned from customer feedback and service levels.

Few effective marketing campaigns are achieved through random action. Successful marketing is usually achieved through a general process within which many variations are possible. The basic blueprint involves drawing up goals that the campaign is designed to meet and then drawing up the plans and strategies that are intended to achieve those goals. If those plans start to fall short of the desired standards, they then need to be adjusted to get the campaign once again pointed in the right direction. Marketing control involves the analysis of where the original plans are falling short and the steps taken to correct those problems.

At the point at which the campaign's desired and actual effect begin to diverge, strategies must be put into place to rectify the situation. The problems need to be identified before any action can be taken, lest more damage be done. Once the problems are identified, then the proper method of marketing control may be exerted in an effort to bring about the desired goals.

Research is the most obvious tool for identification of how well the marketing campaign is proceeding. This can be done through customer surveys or product testing. Focus groups are another popular way of ascertaining if the product is hitting its desired target audience or if the marketing techniques are getting across the desired message.

Measurables such as sales reports or cash flow totals are a concrete way to determine what type of marketing control needs to take place. Marketing managers can use these numbers to figure out whether they are receiving the desired return on their marketing investment. If not, corrective action needs to take place. This may come in the form of pricing changes to the product or service in an attempt to boost sales or profit, additional promotional initiatives to increase the visibility of the product or service, or, if drastic action is necessary, a complete overhaul of the marketing campaign.

What is Market Share?

Market share is the portion or percentage of sales of a particular product or service in a given region that are controlled by a company. If, for example, there are 100 widgets sold in a country and company A sells 43 of them, then company A has a 43% market share. You can also calculate market share using revenue instead of units sold. If company A sold widgets for a total cost of $860 and the people in the country spend a total of $2,000 on the same widgets, then the market share is $860/$2,000 or 43%. The two different methods of calculating market share won't always provide the same answer, because different companies may charge slightly different prices for the same type of widget.

Market share is used by businesses to determine their competitive strength in a sector as compared to other companies in the same sector. It also allows you to accurately assess your performance from year to year. If you only use sales to measure your performance, then you don't take into account the market conditions that may have improved or decreased your sales. Your sales may have gone up because of increased popularity of your type of widget, or they may have gone down because of a drought or recession. Since those factors are beyond your control, they don't give you meaningful information about how you are actually doing as a company in terms of improving your business. By measuring market share, you can see if you are doing better or worse compared to other companies that are facing the same challenges and opportunities that you are.

There are four basic ways you can improve your market share. You can improve your product so that it is better than your competitors or you can change the price or offer special incentives for buyers, such as discounts or sales. Alternatively, you can find new methods to distribute your product so people can buy it in more places. Finally, you can advertise and promote your product. Using these techniques in any combination may improve market share.

Increased market share is not always the best solution for businesses. It might not be profitable if it is associated with expensive advertising or a big price decrease. A company may not be able to meet the demand of an increased market share without huge investments in new equipment and employees. In some cases it can be to a company's advantage to decrease market share, if the lower costs of lower market share can improve profitability. Managing market share, therefore, is a very important aspect of managing a business.

What is Market Segmentation?

Market segmentation is a strategy that involves dividing a larger market into subsets of consumers who have common needs and applications for the goods and services offered in the market. These subgroups of consumers can be identified by a number of different demographics, depending on the purposes behind identifying the groups. Marketing campaigns are often designed and implemented based on this type of customer segmentation.

One of the main reasons for engaging in market segmentation is to help the company understand the needs of the customer base. Often the task of segregating consumers by specific criteria will help the company identify other applications for their products that may or may not have been self evident before. Uncovering these other ideas for use of goods and services may help the company target a larger audience in that same demographic classification and thus increase market share among a specific sub market base.

Market segmentation strategies can be developed over a wide range of characteristics found among consumers. One group within the market may be identified by gender, while another group may be composed of consumers within a given age group. Location is another common component in market segmentation, as is income level and education level. Generally, there will be at least a few established customers who fall into more than one category, but marketing strategists normally allow for this phenomenon.

Along with playing a role in the development of new marketing approaches to attract a certain demographic within the market base, market segmentation can also help a company understand ways to enhance customer loyalty with existing customers. As part of the process of identifying specific groups within the larger client base, the company will often ask questions that lead to practical suggestions on how to make the products more desirable to customers. This activity may lead to changes in packaging or other similar changes that do not impact the core product. However, making a few simple changes in the appearance of the product sends a clear message to consumers that the company does listen to customers. This demonstration of good will can go a long way to strengthen the ties between consumer and vendor.

What Is Market Saturation?

When a product is introduced to consumers, the producers hope that consumers will respond positively by buying that product. Market saturation can be considered evidence of a successful sales record. When a market is saturated with a product, that product is prevalent among consumers.

Market saturation can be viewed as a positive because consumers purchased an offered product. Those purchases have occurred on such a large scale that the likelihood of future purchases may be drastically diminished. At a monthly farmer’s market, this is an ideal situation. Almost everyone who comes to the market buys Mrs. Smith’s jam and she dismantles her booth and goes home with her profits.

In general, however, business does not work this way. Companies do not establish themselves to simply sell a product and then dismantle the business. Most businesses are long-term ventures. Therefore, once the market becomes saturated with their products, they are presented with a challenge of how to continue generating revenue.

Market saturation can be overcome by a number of things. Some of them can be influenced by producers but others cannot. One of the factors that producers have no control over, but which can help to alleviate low sales figures due to market saturation, is population growth. More people in a society tend to add to the numbers of unsupplied consumers.

It is important to note that market saturation does not mean that every consumer has a product. Instead, the term generally means that a substantial portion of those who are likely to purchase a product have already done so. Families often consist of several individuals. Therefore, if the residential housing market is saturated, that means that not every individual but most families have already purchased homes.

This leads to a market saturation factor that producers may be able to manipulate. If producers can influence attitudes about the ownership of multiple purchases, they may create demand in a market that was saturated. An industry that can be observed for an excellent example of this is the cosmetics industry, which leads women to believe that a single shade of lipstick and eye shadow are not enough. The constant desire and the disregard for existing personal stock fuels constant demand and drastically reduces market saturation issues.

Market saturation is not always due to the success of a single producer. In some instances, markets get exhausted because there are too many suppliers of a product. This highlights the role that competition can play in such instances. If Producer 1 is able to obtain access to Producer 2’s consumers, Producer 1’s market share becomes larger and offers the opportunity to sell more products.

What Is Market Positioning?

Market positioning is the manipulation of a brand or family of brands to create a positive perception in the eyes of the public. If a product is well positioned, it will have strong sales, and it may become the go-to brand for people who need that particular product. Poor positioning, on the other hand, can lead to bad sales and a dubious reputation. A number of things are involved in market positioning, with entire firms specializing in this activity and working with clients to position their products effectively.

When a product is released, the company needs to think beyond what the product is for when it comes to positioning. It also thinks about the kinds of people it wants to buy the product. For example, a luxury car manufacturer might be less interested in promoting reliability, and more interested in promoting drivability, appealing to people who are looking for high-end cars which are enjoyable and exciting to drive. Conversely, a company making mouthwash might want to go for the bottom end of the market with an appealing low price, accompanied by claims asking consumers to “compare to the leading brand” so that they can see that the product contains the same active ingredients as a famous brand, at a much lower price.

Market positioning is a tricky process. Companies need to see how consumers perceive their product, and how differences in presentation can impact perception. Periodically, companies may reposition, trying to adjust their perception among the public. For example, a company might redesign product packaging, start a new ad campaign, or engage in similar activities to capture a new share of the market.

Companies also engage in depositioning, in which they attempt to alter the perception of other brands. While outright attacks on rival brands are frowned upon and may be illegal unless they are framed very carefully, companies can use language like “compared to the leading brand” or “we're not like those other brands.” A television ad, for example, might contrast two paper towels: the brand being advertised, and a “generic” with a package which looks suspiciously similar to a popular brand of paper towels, but isn't quite identical.

Developing a market positioning strategy is an important part of the research and development process. The marketing department may provide notes during product development which are designed to enhance the product's position, and they also determine the price, where the product should be sold, and how it should be advertised. Every aspect of the product's presentation will be carefully calculated to maximize its position, with the goal of market positioning being domination.

What is Market Analysis?

Market analysis may take two distinct forms. In the first, it is a method used by investors to look at the market and try to determine whether it is going up or down, in order to make investment decisions. In the second, it is a field used by marketers to analyze the target market of their clients and determine the best courses of action to take to improve sales and profitability.

Market analysis as used by investors involves looking at numerical data and attempting to discern patterns or determine probable future movement based on that data. Investors using market analysis will look at how prices within their specific sector are moving, how the market as a whole is tending, and what individual events might affect the prices of stocks and commodities they are trading in. When performing a market analysis, an investor must also consider events such as announced mergers, profit predictions for a coming quarter, and new technological discoveries. Some investors take a primarily mathematical approach to market analysis, looking at reams of historical market data and crunching every number at their disposal through their own algorithms in an attempt to predict the market's future path. Other investors take a more 'gut' approach to market analysis, relying on news sources and rumors surrounding companies' activities to sketch a rough picture of possible market tendency.

From a marketer's perspective, marketing analysis consists of looking at every angle of a market to determine policies that will help a company capture more of a market share and make the share they already control more profitable. The market analysis of customer desire and satisfaction is a large part of marketing. Logit analysis, for example, surveys consumers and looks at needs that have not yet been met to predict how an untried product may perform in a fresh market. For companies innovating a new market, this is a crucial part of market analysis, because producing too many units of a product results in a massive loss, while producing too few results in a loss of customer satisfaction and opens the door to competitors.

Market analysis may also look at the share a company owns of a particular market, with the aim of determining how to acquire a larger share. Unlike logit analysis, this type of market analysis, known as market share analysis, is geared more towards entrenched product lines. The goal of market share analysis is not to determine whether a customer would purchase a product, but rather to examine customer loyalty levels, brand perception, and the overall competitive edge, and to come up with a strategy to draw market share away from competitors and increase one's own share.

A number of software packages exist for many types of market analysis, usually taking the form of spreadsheets with fields for a wide array of data which is then processed and used to give a general analysis. Most marketing firms also include market analysis as part of their core package, with different degrees of depth available determining on the size and needs of the company.

What Is Frequency Marketing?

Frequency marketing is a promotional strategy designed to reward regular customers as well as those who buy in large quantities. The rewards vary but may include discounts and merchandise prizes. The main goals of a frequency promotional program are repeat sales and customer loyalty. There are many ways companies use frequency marketing to prompt customers to buy more of their products.

Many airlines offer a frequent flier program (FFP) to encourage customer loyalty. Since many airline companies often service the same locales, airlines with good frequency marketing reward programs can often get a larger market share than their competition. A frequent flier reward program usually has a name such as OnePass for Colombia's AeroRepublica, or Punto, which means “point” in Spanish, and is the FFP of Spain's Vueling Airlines.

Most frequent flier programs give passengers points each time they fly with that airline. When saved up after several flights, the points can then be exchanged for free air travel or services. The services may include an upgrade to the first class section of the plane or free or discounted hotel accommodation. Many airlines work together on frequency marketing promotions with related travel businesses such as hotels, restaurants and rental car companies.

Retail stores as well as restaurants and department stores often give customers “scratch and win” cards as part of their repeat sales customer reward programs. The prizes are usually free products or a percentage saved off a future purchase. Since the cards are given on one visit and usually can't be used until another time, the frequency rate of customer purchases can rise as a result of this type of card program. Some types of frequency marketing promotional cards are stamped each time the customer makes a purchase. After a set number of purchases, the next one is free.

Grocery chains and other retailers often use a membership card system. Customers sign up for and receive a card they can use to receive discounts or points to apply to free merchandise. Point catalogs contain items that members may choose from if they save up the required points. Since many of the larger items may take either years to save up for or require large purchases, the company hopes to achieve customer loyalty through repeat business.

Loyalty programs are another name for frequency marketing promotions. The sales strategy is to keep customers buying more products to get the reward offered in the hopes they will become long-term buyers. Companies often have to use specific marketing strategies to help inspire customer loyalty if they have strong competitors. The more customers keep buying their product, the greater chance they will purchase less of the competitor's brand.

What is Demography?

Demography is the scientific study of characteristics and dynamics pertaining to the human population. The characteristics encompassed by this study include size, growth rate, density, vital statistics, and distribution of a specified population. Demography requires the study of specific information that may be gathered from a population census or vital statistic records. People who study and record this information are referred to as demographers. Demographers must know both how to scientifically obtain information and how to interpret it relatively.

Demography is widely used for various purposes and can encompass small, targeted populations or mass populations. Governments use demography for political observations, scientists use demography for research purposes, and businesses use demography for the purpose of advertising. In real estate, demography is employed to give clients an overview of specific neighborhoods.

Statistical concepts essential to demography include birth and death rate, infant mortality rate, fertility rate, and life expectancy. These concepts can be further broken down into more specific data, such as the ratio of men to women and the life expectancy of each gender. A census helps provide much of this information, in addition to vital statistic records. In some studies, the demography of an area is expanded to include education, income, the structure of the family unit, housing, race or ethnicity, and religion. The information gathered and studied for a demographic overview of a population depends on the party utilizing the information.

Advertising relies heavily on demography, since service and goods providers need specific information to reach the maximum number of potential customers in their target audience. Similarly, education relies on demography to help gather information to provide necessary governmental and local assistance. An example of large-scale demography is the collection of demographic information for an entire country. Such information might be used to determine a need for world assistance due to famine, disease, or other serious issues.

Demography is an interesting science used to create statistics. Sociology, which is the study of society and social behavior, is an example of an independent area of study in which demography is frequently used. Economics is also a specific area of study employing the science of demography. Anyone can review basic information about the demography of the United States by reviewing the most recent US census.

What Is Concentrated Marketing?

Concentrated marketing is a marketing approach that is aimed at connecting with and selling products to a specific consumer group. This strategy calls for taking steps to identify the target market that is highly likely to be attracted to the products, and developing a marketing plan that is unique to reaching that group of consumers. The process also normally includes planning the delivery of products in a manner that is likely to generate repeat business from those consumers. In many cases, concentrated marketing is an ideal approach for smaller businesses with limited resources, since it does not rely on the creation and use of mass marketing, production, or distribution to reach a wide range of potential consumers.

he concept of concentrated marketing is the opposite of what is known as undifferentiated marketing strategies. With an undifferentiated approach, the idea is to capture as much of the market share as possible by creating a broad campaign that appeals to consumers of all ages, genders, economic backgrounds and geographical locations. By contrast, a concentrated marketing campaign seeks to identify the niche market or markets where there is likely to be a high demand for the products produced. In order to reach those niche markets, the producer will create a plan that involves only those forms of media that are regularly used to reach consumers in those niche markets, rather than going with a broader campaign approach. For example, a company that markets farming implements will make use of advertising in print media aimed at farmers, rather than creating ads that are found in magazines with a broader reader base.

While a concentrated marketing approach can help a business make the most of a small advertising budget, there are some potential drawbacks with this type of marketing. First, a concentrated effort requires a highly developed marketing plan, since it is targeted to a specific audience. This means a great deal of research into the wants, needs, and buying habits of that group of consumers, a task that can be somewhat costly on the front end. In addition, this type of focused or targeted marketing means that other consumer groups are not targeted and thus are not likely to be reached. In the event that the company is unable to capture an appreciable share of the targeted group of consumers, there may not be the luxury of more time to cultivate a client base with a different consumer group.

What Is Capital Improvement?

A capital improvement is the addition or replacement of a major item in a fixed building or structure. Capital improvements may increase the structure’s value or improve its use by individuals or businesses. Government entities such as cities, schools, utilities or public service agencies may also use capital improvements to enhance services offered to local citizens. Individuals, companies and government entities typically use capital improvements for different reasons.

Individuals may use a capital improvement to increase the value of their home through the addition of an extra room, renovation of a living space or improvements on items located in the home. Common domestic improvements may include replacing the heating and air conditioning system or updating the electrical wiring in older homes. Individuals typically use capital improvement plans to increase the value of their home and make it more desirable when the owner needs to sell the home on the open market.

Businesses often use capital improvement projects to increase the efficiency of current business operations or expand and grow operations for new products or services. These improvements are usually expected to generate financial returns for the business sometime in the near future. Businesses commonly develop capital improvement budgets and improvement plans to create long-term goals for improving the company. These plans attempt to lay out all the needs of the business and develop a timeline for properly completing the capital improvements in a timely and efficient manner. Because companies usually have limited capital resources, they cannot complete all the capital improvements they desire at one time.

Government entities often use capital improvements as a way to entice new businesses or individuals to move into the state or city. Increasing the number of businesses or individuals in the state and individual cities can allow governments to generate more taxes from increased population. Increased population numbers may also increase the number of capital improvements needed to enhance city services and operations. Local governments may also develop a capital improvement plan similar to a business; residents or citizens of local government entities may provide feedback on these capital improvement plans to ensure their taxes pay for the services or improvements they desire.

Individuals, businesses and government entities must carefully account for all the costs when making capital improvements. While initial estimates may indicate low costs for making improvements, major capital improvement projects can quickly go over budget and increase the cost these groups must pay for the improvements. Raising more money to pay for projects may be difficult if the improvements are seen as inefficient or worthless once the project overruns its initial budget.