Loss Leaders

Finding new customers can be difficult and expensive. As you look at your customer acquisition strategy, you may want to consider the classic “Loss Leader” approach. The basic idea is that customers will spend more money on additional items, offsetting losses created by under-pricing the lead item. The idea behind using a product for promotional…

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The Marketing Plan: Essential Elements

The marketing plan is a critically important part of the business plan for a new business owner. Even if you don’t include a detailed marketing plan in the business plan, you absolutely need to complete one before formally beginning your new business. There are many elements of a good marketing plan, and you’ll want to…

Diamonds & Guns

Diamonds and guns… Hmm. This combination seems as strange as Paula Deen giving a lecture on how to prevent diabetes or hiring Kim Kardashian as the next host of “Are You Smarter Than a 5th Grader ®.” The two just don’t seem to work together. Or do they? In 2012, an Atlanta jewelry chain, D.…