Multiple marketing factors affect bottom line profitability. However, great marketing strategies share a common characteristic.
Top performers habitually integrate sound marketing concepts with market demands.
Managing Negative Publicity
Not sure how to handle negative PR? You're not alone. It's a probably faced by many novelty jewelry retail businesses. The worst way to handle negative buzz is to put off developing a response until reporters are pounding on your door, demanding a comment from a company spokesperson. PR savvy novelty jewelry retail businesses work with consultants to develop a crisis response plan that can be executed on a moment's notice. Mailing list providers can also provide quick access to accurate mailing lists, an important consideration if your crisis response plan contains a direct mail component.
Why Branding Matters
Branding isn't just a marketing buzzword. It's a core concept for businesses trying to entrench themselves in consumer consciousness. It's a fact: A novelty jewelry retail business has brand characteristics. Some brands struggle to achieve recognition with consumers while others seem to be quickly embraced by the marketplace. By investing in brand awareness and positioning, you increase the trust factor and make it easier for consumers to choose your business over less-known competitors. In certain situations, branding can be used to establish dominance in specific product categories or service areas.
You've seen the contest concept in action, even if it wasn't used in a novelty jewelry retail business. Although a contest won't automatically translate into higher revenue, it can be a strategic component of a comprehensive marketing plan. Even good contests carry risks, namely the possibility that your business will be dogged by allegations of unfair prize awards. That's why novelty jewelry retail businesses invest time and resources to create contests they can count on to achieve desired outcomes.
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