The Forex market is the place banks, organizations, governments, investors and traders come back to exchange and guess on monetary forms. The Forex market is moreover alluded to as the ‘Fx market’, ‘Money market’, ‘Foreign exchange cash market’ or ‘Foreign cash market’, and it’s the greatest and most fluid market inside the world with a normal every day turnover of $3.98 trillion. The Fx market is open twenty-four hours consistently, five days for every week with the most essential world business focuses being arranged in London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris, and Sydney. It should be noticed that there’s no focal marketplace for the Forex market; trading is rather directed ‘over the counter'; dislike stocks where there’s a focal marketplace with all requests handled simply like the stock exchange. Forex might be an item cited by all the real banks, and not all banks can have precisely the same because of postponement in servers. Presently, the dealer’s stage take every one of these sustains from the different banks tied with them and along these lines the quotes we see from our specialist are estimated normal of them. The merchant is viably executing the exchange and taking the inverse side of it, they ‘make the market’ for you. When you get a cash match… your agent is marketing it to you, not ‘another broker’.

In 1876, something many refer to as the gold exchange standard was actualized. Fundamentally, it said that all paper cash must be sponsored by strong gold; the thought here was to balance out world monetary standards by pegging them to the price of gold. It was a smart thought in principle, however as a general rule, it made blast bust examples which at last prompted the end of the highest quality level. The highest quality level was dropped around the start of World War 2 as real European nations did not have enough gold to bolster all the cash they were printing to pay for extensive military activities. In spite of the fact that the best quality level was at last dropped, the valuable metal never lost its spot as a definitive type of financial esteem. The world at that point chosen to have settled exchange rates that brought about the U.S. dollar being the essential hold cash and that it would be the main money supported by gold, this is known as the ‘Bretton Woods System’ and it occurred in 1944. In 1971, the U.S. announced that it would at no time in the future exchange gold for U.S. dollars that were held in foreign stores, this denoted the finish of the Bretton Woods System. It was this separate of the Bretton Woods System that at last prompted the for the most part worldwide acknowledgment of skimming foreign exchange rates in 1976. This was adequately the “birth” of the current foreign money exchange market, in spite of the fact that it didn’t turn out to be broadly electronically exchanged until about the mid-1990s.

Forex trading as it identifies with retail traders (like you and I) is the theory on the price of one cash against another. For instance, on the off chance that you think the euro will ascend against the U.S. dollar, you can purchase the EUR/USD cash match low and afterward (ideally) pitch it at a higher price to make a benefit. Obviously, in the event that you purchase the euro against the dollar EUR/USD, and the U.S. dollar fortifies, you will then be in a losing position. Along these lines, it’s essential to know about the hazard required in trading Forex, and not just the reward. We can exploit the high use and unpredictability of the Forex market by learning and acing and successful Forex trading methodology, assembling a powerful trading arrangement around that procedure, and tailing it with super cold train. Cash administration is key here; use is a twofold edged sword and can make you a ton of cash quick or lose you a great deal of cash quick. The way to cash administration in Forex trading is to dependably know the correct dollar sum you have at hazard before entering an exchange and be Ok, with losing that measure of cash, on the grounds that any one exchange could be a failure.

  • Who exchanges Forex and why?

Banks – The interbank market takes into account both the dominant part of business Forex exchanges and a lot of theoretical trading every day. Some expansive banks will exchange billions of dollars, every day. Here and there this trading is done in the interest of clients, however much is finished by restrictive traders who are trading for the bank’s own record.

Organizations – Companies need to utilize the foreign exchange market to pay for products and enterprises from foreign nations and furthermore to offer merchandise or administrations in foreign nations. A critical piece of the day by day Forex market action originates from organizations hoping to exchange money keeping in mind the end goal to execute in different nations.

Governments/Central banks – A nation’s national bank can assume a critical part in the foreign exchange markets. They can cause an expansion or decline in the estimation of their country’s cash by attempting to control cash supply, swelling, and (or) financing costs. They can utilize their generous foreign exchange stores to attempt and balance out the market.

Multifaceted investments – Somewhere around 70 to 90% of all foreign exchange exchanges are theoretical in nature. This implies, the individual or establishments that purchased or sold the cash has no arrangement of really taking conveyance of the money; rather, the exchange was executed with sole aim of theorizing on the price development of that specific cash. Retail theorists (you and I) are little cheddar contrasted with the enormous multifaceted investments that control and guess with billions of dollars of value every day in the money markets.

People – If you have ever headed out to an alternate nation and exchanged your cash into an alternate money at the airplane terminal or bank, you have as of now partaken in the foreign money exchange market.

Investors – Investment firms who oversee extensive portfolios for their customers utilize the Fx market to encourage exchanges in foreign securities. For instance, a venture chief controlling a worldwide value portfolio needs to utilize the Forex market to buy and offer a few cash combines keeping in mind the end goal to pay for foreign securities they need to buy.

Retail Forex traders – Finally, we come to retail Forex traders (you and I). The retail Forex trading industry is becoming ordinary with the approach of Forex trading stages and their simplicity of openness on the web. Retail Forex traders get to the market in a roundabout way either through a dealer or a bank.

There are two fundamental sorts of retail Forex handles that give us the capacity to theorize on the money market: specialists and merchants. Representatives fill in as a specialist for the dealer by attempting to locate the best price in the market and executing in the interest of the client. For this, they charge a commission on top of the price acquired in the market. Merchants are likewise called market producers since they ‘make the market’ for the dealer and go about as the counter-party to their exchanges, they cite a price they will bargain at and are repaid through the spread, which is the distinction between the purchase and offer price.

Preferences of Trading the Forex Market:

  • Forex is the biggest market on the planet, with every day volumes surpassing $3 trillion every day. This implies thick liquidity which makes it simple to get in and out of positions. • Trade at whatever point you need: There is no opening chime in the Forex market. You can enter or leave an exchange at whatever point you need from Sunday around 5pm EST to Friday around 4pm EST.
  • Ease of get to: You can finance your managed trading accountswith as meagre as $250 at many retail agents and start trading that day now and again. Straight through request execution enables you to exchange at the snap of a mouse.
  • Fewer cash sets to concentrate on, rather than getting lost attempting to break down a large number of stocks
  • Freedom to exchange anyplace on the planet with the main necessities being a tablet and web association.
  • No-commission trading with many retail market-creators and general lower exchange costs than stocks and wares.
  • Volatility enables traders to benefit in any market condition and accommodates high-likelihood week after week trading openings. Likewise, there is no auxiliary market inclination like the long predisposition of the share trading system, so traders have meet chance to benefit in rising or falling markets. While the forex market is unmistakably an extraordinary market to exchange, I would note to all learners that trading conveys both the potential for reward and hazard. Many individuals come into the markets pondering the reward and overlooking the dangers included, this is the speediest approach to lose the majority of your trading account cash. On the off chance that you need to begin trading the Fx market destined for success, it’s important that you know about and acknowledge the way that you could lose on any given exchange you take.
  • Why is the Forex market so prevalent?

Being a Forex merchant offers the most astounding potential way of life of any calling on the planet. It is difficult to arrive, yet in the event that you are resolved and taught, you can get it going. Here’s a fast rundown of abilities you should achieve your objectives in the Forex market:

  1. Ability – to assume a misfortune without getting to be plainly passionate
  2. Confidence – to have confidence in yourself and you’re trading procedure, and to have no dread
  3. Dedication – to turning into the best Forex merchant you can be
  4. Discipline – to stay cool and dispassionate in a domain of consistent allurement (the market)
  5. Flexibility – to exchange changing market conditions effectively 6. Focus – to remain focused on your trading arrangement and to not stray off kilter
  6. Logic – to take a gander at the market from a goal and straight forward point of view
  7. Organization – to fashion and strengthen positive trading propensities
  8. Patience – to sit tight for just the most elevated likelihood trading methodologies as per your arrangement
  9. Realism – to not think you will get rich fast and comprehend the truth of the market and trading
  10. Savvy – to exploit your trading edge when it emerges and know about what is occurring in the market at all circumstances
  11. Self-control – to not over-exchange and over-use your trading account As traders.


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How Data Analytics Can Transform The Real Estate Industry

The real estate industry, for the most part, has not been well known for being technology intensive. This nature may soon disappear, however. Data analytics is transforming how real estate companies, customers, and financial institutions do business in this industry.

Create additional value

Traditional property data is becoming a commodity. Anyone with an Internet connection can access basic information about the market and properties. Real estate companies need to provide additional value via highly customised solutions.

Data analytics could potentially transform how the real estate industry meets the needs of its customers. For example, what can a commercial real estate company do when its client wants to move to a new office space? Traditionally, the company would take into account factors like budget, preferred location and space to come up with a list of recommendations. But what if the company can help address other business challenges for the client as well?

One of the major challenges for businesses today is to recruit and retain the best talent. So the client would probably prefer a location that is most convenient to all of their employees. Employees can input data of their homes’ locations, movements throughout a typical working day. This data then can be used for analysis, such as spatial mapping. The result is a solution for office space with the optimised location for employees’ daily commute. That new office would potentially bring the additional value of attracting and retaining great talent to the client.Make smarter decisions

The real estate market has a huge data set of millions of properties and potential individual buyers and sellers. Additionally, there are lots of metadata for each property and customer. Digging through that raw data will give companies the edge over the competition. Companies armed with advanced data analytics can remain competitive by utilising data to find useful insights which allow high-level executives to make smarter strategic decisions regarding investment, financial management, sales and marketing, procurement, etc.

The finance aspect of the real estate industry has already adopted data analysis to help investors and financial institutions make wiser decisions. Banks today have much better insight into value of foreclosed properties than they used to do. Risk scoring algorithms is advancing to provide more precise assessment of the properties.

Data analytics allows for customer insights that previously were unheard of. It is capable of presenting a clearer picture of who buys what, when, where, why and how. More importantly, it can predict who will buy or sell their homes in the near future. Such capabilities could dramatically change the way real estate companies approach their customers. Instead of attempting to reach out to a wide audience, companies can target specific people who are most likely to be their customers.

Empower individual customers

Advanced analytics benefits not only real estate companies but also individual customers. It creates an unprecedented level of data’s transparency and accessibility for both buyers and sellers. For instance, homeowners could be provided with information about their properties’ potential value, as well as the trend in the future.

Real estate companies that are still doing business in the traditional ways may feel intimidated by such transparency. However, purchasing a home is among the most expensive and personal transactions people make in their lifetimes. Companies that can make the process easier and more informative are more likely to win the customers and drive sales.Increase online visibility

The Internet has become the favourite destination for individual customers when looking for real estate. As a result, real estate agents and professionals need to be more visible online in addition to old-fashioned aggressive sales tactics and advertising campaigns. Data analytics allows agents to understand what visitors are doing when they do online searches. More importantly, the advanced analytics today can produce actionable information in real-time that enables almost daily adjustment of organic or paid efforts.

Business Intelligence (BI) or Enterprise Performance Management (EPM) applications with integrated analytics capability allow companies to get the most out of their data. If you’d like to know more about how Business Intelligence and data analytics could transform your business today, please download the white paper “Going from reactive to proactive – what Business Intelligence means today”.

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Master Your Spending and Transform Your Life

The question for today revolves around money. Do you manage your money? Or, does your money manage you? So often, people plan their lives around their financial condition, rather than planning their financial condition around their lives. Some people make no plans at all. In the last issue, we discussed planning our lives as we seek to find our God-given purpose for living. In this issue, we’ll talk about planning our finances.

Personal financial management is not a difficult process, but it does require a plan and the discipline to follow that plan. Unfortunately, consumer debt and the promise of a higher standard of living often lure us away from the basic financial planning required to live an abundant life.

The great football coach Vince Lombardi would, on occasion hold up a football before his players and say, “Gentlemen, this is a football.” Coach Lombardi knew the importance of reviewing the basics on a regular basis and he regularly taught his players the fundamentals required for success in football.

The basic fundamentals of football are often referred to as blocking and tackling. Using that metaphor in the financial arena, the “blocking and tackling” of money revolves around earning, spending, saving, borrowing, and investing.

If we wish to live extraordinary lives we must recognize that debt is a tool to be used intelligently. We must learn that an extraordinary life is a financially disciplined life … one in which conscious decision-making occurs with even the most trivial spending. We must fully comprehend that borrowing to purchase expendable items or rapidly depreciating assets using credit cards or bank loans is flirting with a trip to the poorhouse.

That brings us to the fourth Key to Extraordinary Living:

No Matter How Much You Earn, Spend Less

We recognize that the manner in which this key is stated may lead you to believe that mastering your money is only about the way you manage your spending habits. That is not true. In fact, you’ll notice that the key itself speaks very directly to at least two components of money management – earning and spending money. In addition, this Key speaks more indirectly to the other component of money mastery – what you do with the money you do not spend.

Earning Money

Earning or having a lot of money is neither a sin, nor is it necessarily counter to God’s intention for our lives. Unfortunately, many well-meaning people cultivate an expectation that scarcity and sacrifice are required if we are to be Godly people. However, the Bible has numerous stories of Godly people having tremendous wealth.Perhaps you’ve heard the story of the Good Samaritan. In the story, the Samaritan didn’t simply help the injured traveler up and send him on his way. He took care of him both medically and financially. He paid for lodging and he paid for all of the costs associated with his medical care. He was able to do this because he had the financial means to do so. The Good Samaritan had obviously learned how to master his money. When Jesus described the actions of this man, He told us to “Go and do likewise.”

Unfortunately, the urge to spend money today is at an all-time high. We are constantly bombarded by outside pressures from print ads in newspapers and magazines to broadcast ads from our radios, televisions, and computer screens to buy more and more things. In fact, you may have heard the phrase, “We can’t save any money because all of our friends keep buying things we don’t need.” That quip may seem humorous on the surface, but it rings so true for many people and its effects can be devastating.

If we’re going to live extraordinary lives, we must learn to get a handle on our spending. A few very simple practices can easily and automatically help in that regard.

1.) For the next 30 days, track every penny you spend. Take ten to fifteen seconds after each and every purchase and record that purchase by either asking for a receipt, or by recording it on a small note pad. Regardless of the method you choose, record all your expenses and identify the reason for the expenditure (i.e. food, auto fuel, clothing, etc.) You may develop your own set of categories or manner of organizing these expenses.

By following through on this exercise, you will begin to develop an awareness of your current spending habits. An optional step to expand this process and to make it much easier is to use a basic money management software package to maintain your checkbook and to record all expenses. These packages usually have a “Cash Flow” function that allows you to look at the flow of money in and the flow of money out on a regular basis (Weekly, Monthly, Quarterly, Annually, etc.). We recommend a monthly review of the cash flow report with everyone who makes purchasing decisions in your household, making absolutely certain that actions are taken to bring excessive spending in certain categories under control.

2.) Invoke a “cooling off period” prior to making impulse purchases of $100 or more. The cooling off period in the Standridge household is a minimum of 24 hours. If we find something that we impulsively wish to purchase and it costs more than $100, we’ll invoke the 24 Hour Rule in order to determine if it’s really something we want or need. If the desire to purchase is as strong after the full-day wait, then we’ll consider purchasing it. It’s not a foregone conclusion we’ll buy it at that point, but we will more deeply consider the merits of doing so.

The amount is not as critical as the process. Depending on your level of income, $100 may be way too much. You might want to reduce it to $50 or even $25. That’s okay. However, we would suggest you NOT increase that amount beyond $100. That figure is a good “psychological” marker regardless of your income level. This concept of the “cooling off period” has kept us from making a number of rather frivolous purchases in the past.

3.) A Third, more invasive strategy for effectively managing your spending requires that you establish six major categories of expenditures and allocate money to these categories each pay-day. This is best executed by establishing separate bank accounts and moving the money automatically before it ever reaches our hands. However, with the right level of tenacity and discipline, it may also be carried out using a cash & envelope system. While most people only give and save from what’s left over after everything else has been paid, this strategy advocates paying God and yourself first. The idea is to proactively manage a “spending plan” each month in order to exercise more discipline and financial control.

There are a number of categories that can be used to effectively manage spending; however, the following categories and allocations are recommended:

10% – Giving Account (Used for paying tithes and other charitable giving.)

10% – Net Worth Account (Used to eliminate consumer debt first and then purchase securities and other passive income-producing assets such as stocks, mutual funds, real estate, etc.)

10% – Short-term Savings Account (This is the savings account for emergencies. It should contain a minimum of 3-6 months worth of expenses to rely on during unplanned drops in income.)

10% – Education Account (For your personal education as well as the education of your children, if you have or plan to have children).

10% – Entertainment Account (Used for recreation, vacations, and etc.)

50% – Necessities Account (This is for all required living expenses.)

It may be difficult or even impossible to begin with these specific allocation percentages, but this should be the desired state. In order to effectively execute this strategy each category should be established and a regular amount of money must be placed in the account every pay-day, regardless of the amount. Rather than immediately starting at the ideal state, it may be that the different amounts look more like this:

10% – Giving Account

7% – Net Worth Account

5% – Short-term Savings Account

3% – Education Account

5% – Entertainment Account

70% – Necessities Account

That’s perfectly okay. Establishing the process and diligently placing funds in each account systematically every single pay-day is most important – much more important, quite frankly, than the actual proportion allocated to each account. Slowly, as expenses are reduced relative to income, adjustments can be made to your distribution of funds in order to move toward the desired allocations. The important thing is to start the process and to develop a discipline of funding these accounts automatically, every single month.Desperately in Debt

One of the problems with spending excessively is that our working income seldom provides enough cash to purchase outright some of the do-dads we want. As a result, we choose to incur debt, using credit cards, lines of credit, and bank loans to purchase these things. We think in terms of the monthly payment rather than thinking in terms of “value” or “total cost.” As a result, the entire American economy is deeply rooted in and driven by consumer debt. In addition, individuals and families across the country are burdened so much financially, they can hardly see anything but a life of despair.

Not long ago a news release reported that consumer debt is rising twice as rapidly as salaries and that the average household spends 20 percent of its disposable household income on debt payments. Many people regularly deposit money into bank savings accounts paying 1.5% annual interest, while at the same time paying 10% – 20% in credit card interest.

Mastering your Money

One of the best ways to master your money is to learn the discipline of contentment. The Apostle Paul spoke of this discipline in his letter to the Philippians, telling them he knew what it meant to be in need and he knew what it meant to have plenty. Regardless of the circumstances, Paul had learned to be contented in all situations (Philippians 4:12). He went on to say, “I can do everything through him who gives me strength.” (v. 13)

When we recognize that all we have comes from our Creator, we tend to live (and spend) a little differently. It’s been said that God can do more with ten percent than we can do with the remaining ninety percent. How true that is. When we pursue extraordinary living, we make a conscious decision that earning, spending, saving, or borrowing money will never rule our lives. Instead, we decide to master our money so that we never have to risk being mastered by it. No matter how much we earn, we spend less and we funnel that “unspent” money in wise directions.

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Financing Your Business Acquisition Should Be the Least of Your Concerns – Think About Choosing One

At this point in the article, you should feel confident about getting into a new business without using any of your own cash. Then there’s the obvious question: “Where am I going to get the money for the rest of the purchase price?” Coming up with a way to cover the $100,000 down payment on a $500,000 deal seems relatively easy once you know all your options and opportunities. However, getting the remaining $400,000 can be a more difficult task to accomplish. To your big surprise, it is not. Like the process of arranging no cash down, the methods of paying for the rest should not be a concern. Let’s begin with this simple thought: if you think of money as a commodity, or product, you’ll have an easier time finding it, asking for it, and getting it from those who can afford to lend it. Many people have these resources to lend to you. All you need to know is how to ask for it the right way.

Question: Whose door should I knock on first?

Answer: You may already have your foot inside that door. That’s because, as I’ve mentioned before, the most likely source could be the seller. In fact, before you consider any other funding source, discuss the prospect with the seller. (Later, a few other avenues of financing will be discussed, in the event that the seller is not cooperative with your pitch techniques.) Borrowing from sellers typically offers some key advantages:

1) Sellers are not fanatical about earning interest. Their objective is actually to sell their business at a price they feel most acceptable. The seller wants to get rid of their business for a reason, whatever that might be. This may be to get rid of a financial burden, and for you, an opportunity to put into practice your management expertise to transform the same business into a towering mountain of profit.
2) Sellers can be far more understanding than banks. Let’s say your new business has a slow couple of months, and cash flow has become more like a cash trickle. So now you’re forced to miss a payment, or even two. Which lender is more likely to penalize you-the bank, or the person with whom you’ve formed a solid relationship and who can empathize with your business problems? I am sure that you and I share the same answer.
3) And no, sellers won’t take away your personal assets. Whereas most banks are obsessed with collateral, sellers rarely demand the same. Yes, they may want you to put security interest on the business, but beyond that, a handshake will often close the deal.

Question: If seller financing can’t be worked out, should I simply go to my bank?Answer: Actually, the ideal bank may be the one the business is already using. They know the business and if the seller can introduce you to his or her long-time banker, it could facilitate the transition of ownership. However, you can also apply at any commercial bank for a business acquisition loan. As you might imagine, though, there’s much more required of this kind of transaction than filling out an application like you would for a car loan. They want to know a lot more about you and your chances of success before they approve the loan; and of course, that depends on your credit history and management skills. One thing you must remember is not to beg. You should never go into any financial institution, “hat in hand”, to plead for a loan. As intimidating as banks can be, they’re really just money supermarkets with shelves full of a commodity they want you to buy.

They need you as much as you need them. If you have a deal that makes reasonable sense, they’ll go along with it and make plenty of money from you. If you come into the bank with an idea for a start-up company, a good business plan is required as well. Solid projections will also be needed as part of the package. Using the business plan, the bank can analyze the feasibility of the venture and will decide accordingly.

Question: You mentioned “business plan” early in the article”. What kind of information can I submit to the banker that can be relevant to what he’s looking for?

Answer: Here’s what you can find in a business plan that will help you gather the necessary information for the banker.

Elements of a Business Plan: cover sheet, statement of purpose, table of contents, description of the business, marketing, competition, operating procedures, personnel business insurance, financial data, loan applications, capital equipment and supply list, balance sheet, breakeven analysis, pro-forma income projections (profit & loss statements), three-year summary, detail by month, first year, detail by quarters, second and third years, assumptions upon which projections were based, and pro-forma cash flow.

It is also necessary to present supporting documents to the business plan. A banker will need to see them before even considering you for a loan.

Some supporting documents are: your tax returns for last three years, your personal financial statement (all banks have these forms), in the case of a franchised business, a copy of franchise contract and all supporting documents provided by the franchisor, a copy of the proposed lease or purchase agreement for building space, copies of licenses and other legal documents, copies of resumes of all principals, and copies of letters of intent from suppliers.

Question: Is there a difference between a marketing plan and a business plan?

Answer: Marketing plays a vital role in successful business ventures. How well you market you business, along with a few other considerations, will ultimately determine your degree of success or failure. The key element of a successful marketing plan is to know your customers-their likes, dislikes, expectations. By identifying these factors, you can develop a marketing
strategy that will allow you to arouse and fulfill their needs. Identify your customers by their age, sex, income/educational level, and residence. At first, target only those customers who are more likely to purchase your product or service. As your customer base expands, you may need to consider modifying the marketing plan to include other customers. In report # 8, a sample of a marketing plan is included to give a more detailed idea of its components.

The business and marketing plans are both necessary tools to help you obtain a good idea of how you should pursue your future business. However, if you are looking for a loan at the bank, the business plan should be enough. The marketing plan can be useful when presenting it to business brokers, venture capitalist suppliers and of course, the seller. Since many businesses are seller’s finance, he will be curious to see what are your ideas that will enhance the sales of the business. By doing so, his shares of the business will increase in value and will be comfortable when you’ll take over.

Question: Can you describe in more detail some elements found in the marketing plan?

Answer: My pleasure. A marketing plan is necessary to direct your new business in the path of success. Consider it like your bible. It will help you target the market, or as we said previously, carve your niche. The marketing plan will help you answer the following questions: How you can position yourself with your competitors? How is your product perceived by the consumers? How should you establish a price for your product? Who will distribute your product? How will you promote the product to the public?

In your strategic situation summary, you should summarize the key points from your situation analysis (market analysis, segments, industry, and competition) in order to recount the major events and provide information to better understand the strategies outlined in the marketing plan.
The second section of the marketing plan should include the targets and objectives. This section explains how to define the market demographically- geographically in social and economic terms. Each market target should have needs and wants that differ, to some degree, from other targets. These differences may be with respect to types of products purchased and the frequency of purchase. Objectives should include the following program components:1) Product
2) Price
3) Distribution
4) Promotion (or sales force)
5) Technical services

As for the third section of the marketing plan, here you will provide the position statements that will help you describe how you want each market target to perceive each product relative to competition. State the core concept used to position your product (brand) in the eyes and mind of the targeted buyer. The position statements should describe:

1) What criteria or benefits the customer considers when buying your product along with the level of importance.
2) What you offer that differentiates your product from competition.
3) The limitations of competitive products.

All these details gave you a general idea on the content of a marketing plan. The most important segments are as follow:

Product strategy:

o You’ll need to identify how each of your products fits the market target. Other issues that may be addressed would be new product suggestions and adjustments in the mix of existing products.
Price strategy:
o The overall pricing strategy should be identified along with the cost/benefit analysis. Identify what role you want price to play, increase share, maintenance etc…
Distribution strategy:
o Describe specific distribution strategies for each market target. Issues to be addressed are intensity of distribution, how distribution will be accomplished, and the assistance provided to distributors.

Promotion strategy:

o Promotion strategy is used to initiate and maintain a flow of communication between the company and the market target. To assist in developing the communication program, the attributes or benefits of your product should be identified for each market target.
Marketing research:
o Describe the market research problem and the kind of information needed. Include a statement that addresses why this information is needed.

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