Understand Sales - The 4Ps
The basic foundation of selling is to provide the customer with the 4P’s: the right choice
of product, at the right place, at the right prices, with the right promotions. A good sales
promoter will understand this, but also know the 4P’s of the product in depth:
Product
Not only should a good promoter have extensive knowledge of the product, but they
should also be familiar with the entire product line and the category of products that it
falls in. They should also possess knowledge of competitors’ products.
Placement
Good promoters will know where to best place their table for in-store promotions.
Ideally, it will be located near the product and in high shopper density areas where your
promo will be easily seen. The idea is to have your table “disrupt” the shopper on their
shopping trip. Good promoters will also know the rules for the positioning of specific
goods so that they are always in compliance with the retailer or venue they are
operating out of.
Price
Price knowledge is important, as customers will often ask about the amount of discount
offered, the regular price of the product, and the promotional price. Price is a large
factor in a customer’s purchase decision, so if you can prove that the discount you’re
offering is a good deal or that your product is priced cheaper than your competitors’, you
have a better chance of convincing the customer to buy your product.
Promotion
Most importantly, good promoters should be aware of all aspects of the promotion, from
the advantages it provides to the customer to the marketing materials and point-ofpurchase displays that have been planned for the promotion.
What is the 'Stock Market'
The stock market refers to the collection of markets and exchanges where the issuing
and trading of equities (stocks of publicly held companies), bonds and other sorts
of securities takes place, either through formal exchanges or over-the-counter markets.
Also known as the equity market, the stock market is one of the most vital components
of a free-market economy, as it provides companies with access to capital in exchange
for giving investors a slice of ownership.
How Does the Stock Market Work?
The stock market can be split into two main sections: the primary market and the
secondary market. The primary market is where new issues are first sold through initial
public offerings (IPOs). Institutional investors typically purchase most of these shares
from investment banks; the worth of the company "going public" and the amount of
shares being issued determine the opening stock price of the IPO. All subsequent
trading goes on in the secondary market, where participants include both institutional
and individual investors. (A company uses money raised from its IPO to grow, but once
its stock starts trading, it does not receive funds from the buying and selling of its
shares).
Stocks of larger companies are usually traded through exchanges, entities that bring
together buyers and sellers in an organized manner where stocks are listed and traded
(although today, most stock market trades are executed electronically, and even the
stocks themselves are almost always held in electronic form, not as physical
certificates). Such exchanges exist in major cities all over the world, including London
and Tokyo.
In terms of market capitalization, the two biggest stock exchanges in the United States
are the New York Stock Exchange (NYSE), founded in 1792 and located on Wall
Street (which colloquially is often used as synonym for the NYSE), and
the Nasdaq, founded in 1971. The Nasdaq originally featured over-the-counter (OTC)
securities, but today it lists all types of stocks. Stocks can be listed on either exchange if
they meet the listing criteria, but in general technology firms tend to be listed on the
Nasdaq.
The NYSE is still the largest and, arguably, most powerful stock exchange in the world.
The Nasdaq has more companies listed, but the NYSE has a market capitalization that
is larger than Tokyo, London and the Nasdaq combined.
Who Regulates the Stock Market?
The Securities and Exchange Commission (SEC) is the regulatory body charged with
overseeing the U.S. stock markets. A federal agency that is independent of the political
party in power, the SEC states its "mission is to protect investors, maintain fair, orderly,
and efficient markets, and facilitate capital formation
Who Works on the Stock Market?
There are many different players associated with the stock market,
including stockbrokers, traders, stock analysts, portfolio managers and investment
bankers. Each has a unique role, but many of the roles are intertwined and depend on
each other to make the market run effectively.
Stockbrokers, also known as registered representatives in the U.S., are the licensed
professionals who buy and sell securities on behalf of investors. The brokers act as
intermediaries between the stock exchanges and the investors by buying and selling
stocks on the investors' behalf. (Learn more in Evaluating Your Stock Broker.)
Stock analysts perform research and rate the securities as buy, sell or hold. This
research gets disseminated to clients and interested parties to decide whether to buy or
sell the stock. Portfolio managers are professionals who invest portfolios, collections of
securities, for clients. These managers get recommendations from analysts and make
buy/sell decisions for the portfolio. Mutual fund companies, hedge funds and pension
plans use portfolio managers to make decisions and set the investment strategies for
the money they hold.
Investment bankers represent companies in various capacities such as private
companies that want to go public via an IPO or companies that are involved with
pending mergers and acquisitions.
Why is the Stock Market Important?
The stock market allows companies to raise money by offering stock shares
and corporate bonds. It lets investors participate in the financial achievements of the
companies, making money through the dividends (essentially, cuts of the company's
profits) the shares pay out and by selling appreciated stocks at a profit, or capital gain.
(Of course, the downside is that investors can lose money if the share price falls
or depreciates, and the investor has to sell the stocks at a loss.)
In the U.S., the indexes that measure the value of stocks are widely followed and are a
critical data source used to gage the current state of the American economy. As a
financial barometer, the stock market has become an integral and influential part of
decision-making for everyone from the average family to the wealthiest executive.
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