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Friday, June 22, 2007

Internet Business

How to Make Money on the Internet
So, you're looking for a great business idea to start online? First, you should understand the different business models that exist. Here are some of the more common ways to make money on the Internet:
  • Sell a ProductMost money in e-commerce is made by selling products - either physical or digital. Many of the same common sense rules apply whether you are selling online or "offline." Look for products with high margins, high demand, low competition, etc.
  • Sell a Service Many businesses sell services on the Internet. Some examples include Web hosting, domain name registration, hosted software applications, and comparison shopping services.Sell InformationThis can take one of two forms:
  • Sell InformationFor a subscription site you must provide valuable, timely information that is difficult to get elsewhere. One example is Consumer Reports. Some articles are available for free online, but a user must subscribe to an annual or monthly plan to get access to all the content.
  • E-books:E-books are popular because they can be downloaded instantly. If you are an expert on a topic that others want to learn about, consider writing your own e-book. Once the writing is done, the cost to produce and deliver an e-book is minimal.
  • Sell Advertising Advertising makes big money on the Internet, but it can be hard for the little guy. If you have a site with a lot of traffic, though, you may be able to make some money by joining an ad network or incorporating Google AdSense into your site.
  • Become an Affiliate. An affiliate makes money by sending buyers to another merchant's web site. The merchant pays the affiliate either a flat fee per sale or a percentage of sales originating from the affiliate. To succeed you'll need expertise in search engine marketing or a web site that already attracts a lot of traffic. Affiliate models require little up-front investment and no inventory. However, you'll need to generate a lot of traffic to make money in affiliate marketing because revenues per sale are generally low.
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Thursday, May 3, 2007

Marketing strategy

A marketing strategy also serves as the foundation of a marketing plan. A marketing plan contains a set of specific actions required to successfully implement a marketing strategy. For example: "Use a low cost product to attract consumers. Once our organization, via our low cost product, has established a relationship with consumers, our organization will sell additional, higher-margin products and services that enhance the consumer's interaction with the low-cost product or service."
A strategy consist of well thought out series of tactics. While it is possible to write a tactical marketing plan without a sound, well-considered strategy, it is not recommended. Without a sound marketing strategy, a marketing plan has no foundation. Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs and reach
marketing objectives[3]. It is important that these objectives have measurable results.
A good marketing strategy should integrate an organization's marketing goals, policies, and action sequences (tactics) into a cohesive whole. Many companies cascade a strategy throughout an organization, by creating strategy tactics that then become strategy goals for the next level or group. Each group is expected to take that strategy goal and develop a set of tactics to achieve that goal. This is why it is important to make each strategy goal measurable.
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