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ENTREPRENEURSHIP- A KEY TO ETERNAL HAPPINESS OF SELF &
SOCIETY

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WISH YOU VERY VERY ,VERY HAPPY, PEACEFUL, PROSPEROUS NEW YEAR
Dr. Rajkumar S. Adukia
author of more than 300 books
Global business growth and motivational coach
Passionate to make anyone speaker, writer,
assisting in acquiring professional qualifications
and promotion in job
member IFRS SMEIG London 2018-2020
ex director - SBI mutual fund, BOI mutual fund
B. Com (Hons.), M.Com.,FCA, FCS, FCMA, LL.B, MBA, Dip IFRS (UK), DLL&LW, DIPR, Dip in Criminology,
Ph.D, IP(IBBI), MBF, Dip HRM
student of , MA(psychology), LLM, CFE, IBBI(RV)+++++++++++++++++
ranks mumbai university 5th , inter CA 1st , final CA 6th , final CMA 3rd +++
Chairman western region ICAI 1997
Council Member ICAI 1998-2016
Mob: 98200 61049
Request to contact through email only
advdrrajkumaradukia@gmail.com

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Way forward
Robin Sharma said ―Everything is created twice, first in the
mind and then in reality.‖ Nearly everything around you- your chair,
your laptop, - was first conceived in someone's mind, then created in the physical
world. To create the life you want, you must start by creating the right thoughts.
It's great to visualize, but it's also very important to act - create some plan, or just
start to implement first steps. As Tony Robbins says - ―If you talk about it, it's a
dream, if you envision it, it's possible, but if you schedule it, it's real‖.

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WE AS GLOBAL ENTREPRENEURS MENTOR
An Entrepreneur is not born, but he is developed from different vocations.
Entrepreneur is influence not by a single factor but is the result of interaction of
many such as further.
a) Family background
b) Socio-economic change.
c) Standard of education and technical knowledge.
d) Financial stability.
e) Political stability.
f) Government policy.
g) Caste and religious affiliation.
h) Availability of supporting facilities.
i) Achievements ( aims and objectives)
j) Motivation.
k) Personality and personal skill.
An Entrepreneur has to initiate the process of development crossing all the barriers
in his way. Successful entrepreneur must possess the following qualities:
 He should be a motivator.
 He must possess self confidence.
 He must be committed to the project
 He must be prepared to work for longer hours
 He must be a problem solver.
 He must have initiative, accepting personal responsibility for actions and
above all make good use of resources.

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 He must be a goal setter.
 He must be a moderate risk taker
Entrepreneur Mentorship:
Success in any business is a combination of many factors and one of them is to
keep learning about your business. The entrepreneur mentors have a direct impact
on the growth and survival of their business. The early years of any business are
therefore a crucial make-or-break period, and business mentors are vital to their
success. 89% of small business owners who didn‘t have a mentor wish that they
did. These highlight a need in the entrepreneurial community to find and connect
with qualified mentors who can deliver solid advice to help a business over those
shaky first years.
We at Adukia Law Chambers can assist you and your organisation by being your
mentor in willing to act as a trusted confidante over an extended period of time
with an objective to provide advice, counselling from a fresh perspective,
collaborate and help you as an entrepreneur stay focused on their long-term goal of
making their venture a success.
We as a navigator: It is important for budding entrepreneurs to understand the
right route to reach their destination while embarking on their entrepreneurial
journey. We as your Business mentors can expand an entrepreneur‘s viewpoint,
helping you with multiple perspectives to solve problems and give them the ability
and confidence to collaborate with trusted sources, ensuring you have a smooth
and safe drive to your destination.
Providing unbiased views: With our development-driven attitude, we firmly
believe that we can view your business with fresh, unbiased eyes and guide you,
instead of solving problems for you.

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Dear Colleague,
As we change the calendars to a new year on our desks and on the walls of
our homes, we are welcoming new possibilities. We find the nature around
us preparing for the spring. The weaving birds building the nests and the
chirping of the new born birdlings creates a symphony of new songs that
the life is suggesting us. The more we align to the nature the easier we feel
is the flow of life energy that builds us for the journey called life.
As professionals we are moving into a new phase of adaptability. Whether
moving our office to home or managing our employees who are working
from home, we are seeing changes everywhere. Our services to our clients
have also undergone change, change in the matters on which our advise is
sought and also the manner in which it is delivered. The court hearings are
now online and so are the arbitration matters. Our webinars are online and
so are our Board meetings.
The metamorphosis we are experiencing is bound to make our wings
stronger. It is helping us take higher flights. As Wallace D. Wattles says in
his book, “The science of getting Rich”, the universe responds to our
desires and the collective desires shape the universe’s desire.
Creation and accumulation of wealth or riches is also very fundamental to
this book which I use as a bible of my life. I am particularly drawn to the
philosophy that one must work towards creating wealth in life. This may

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seem quiet contrasting to the belief that lot of money is sin. I believe that
money is source for creating endless services to society. We need money
for the very charity that we wanted to do for so many years. Whether it is
our desire to provide for education of your house-help or providing food
for the needy, it cannot be only met with desire. It has to be backed by
money. The desire to earn riches vibrates with the universe because
universe responds to this vibration and brings in , lot of abundance into
our lives. And our collective desire creates abundance in nature.
As Stephen Covey in his book “7 Habits of Highly Effective People”
mentions that the synergy and not competition is the way to creating of
wealth and success. He explains that with more people joining you , the pie
gets a lot bigger than the common notion that it gets divided into smaller
pieces.
I also resonate with the 8th habit mentioned by Stephen Covey which says
“Find your voice and help others to find theirs”. Stephen Covey makes the
use of the word “Voice” to mean "unique personal significance." I believe
that as professionals, our voice is to serve as many people in the society as
possible. Our work creates for us our unique personal significance. We
professionals collectively have the capacity to shape the future for
ourselves and the nations. Today’s leadership is guided by this habit of the
Covey.
The other book which significantly has influenced me specially since
celebrating my 61st birthday is “Die empty” by Todd Henry. The
philosophy of this book motivated me to spend my day in the best possible
manner. It taught me not to postpone the most significant task of my life to
even a single minute. The author says that we should not withhold any
desire today as this gets accumulated filling up the essence of our life.

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Instead, if we bring our desire into action today and stop procrastinating,
we would die empty, empty from unfulfilled desires.
The philosophy also resonated with me, as I believe, the knowledge that
one has gained over years should not die with us. It should be
disseminated to others. And I have chosen to disseminate it by wring
books. My “Die empty” moment comes when I write a book on any subject
on which I have gained knowledge by research or taking up a any new
course. This has motivated me to acquire knowledge through various
courses. Some on professional development and some on self-
development. Whether it is to write a book on Leadership and
management Philosophies from Bhagvat Geeta and Bhagvat or to any
technical subject, I have emptied my knowledge in the books with passion
sown in very page. The book that I am sharing with you today is also one
such attempt to share my knowledge.
With wishing you a very happy new year, I invite you to write a book with
me on the subject of your passion or we can discuss any new professional
opportunity. Lets get together to create many happy days in the new year.
You can reach out to me on 9820061049 or on email at
advdrrajkumaradukia@gmail.com
With best wishes.
Dr. Rajkumar S adukia

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INDEX
Sr. No. Content
1 Skills of Entrepreneur & Marketing
2 Steps to Become a Good Entrepreneur
3 How to Expand Your Business or Profession by using the Marketing Strategies
4 Diversification
5 How to sale? Things to remember
6 Lessons to learn from the examples of strategies applied by successful businesses
7 Opportunities / Doors of Marketing
8 Brand Loyalty in the World of Marketing
9 Marketing trends
10 Digital marketing
11 Communication skills that are crucial for sale success
12 A relationship between Marketing and innovation
13 Marketing- a conceptual study
14 Government e Marketplace
15 Micro small and medium enterprises
16 Opportunities in agriculture sector
17 Make in India
18 Start-ups India
19 Invest India
20 Foreign trade policy
21 Export & Import
22 Commercial contract
23 Negotiation & Mediation
Way forward

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Chapter 1
SKILLS OF ENTREPRENEUR AND MARKETING
Life is a sum of choices. What we choose consciously or sub-consciously – we
receive. Self-actualization or the need to realize one's own maximum potential and
possibilities is a desire which most people dream to achieve.
Realizing the Power of ‗YOU‘ is the basis of life. What ‗YOU‘ think, ‗YOU‘
become. What idea ‗YOU‘ conceive, turns ‗YOU‘ into a success story. What
‗YOU‘ believe in truthfully and blindly from the depth of your heart ultimately
happens to ‗YOU‘. ‗YOU‘ can change your destiny by ‗YOUR‘ karma. ‗YOU‘ are
the architect of your own future. YOUR future is in YOUR hands.
The essence of achievement in life is the acceptance of the fact that YOU cannot
always determine what comes your way in life, but you need to equip yourself well
enough so that you can steer yourself towards a more effective and fulfilling life –
a life which takes you from Employment seeker toEmployment creator to be
an Entrepreneur!!
To be an entrepreneur is to think differently. While most people seek refuge,
entrepreneurs take risks. They don‘t want a job; they want to create jobs. Their
goal is not just to think outside the box but to own the box. Entrepreneurs don‘t
follow the market; they define the market. This backward way of thinking is
referred by Kevin D Johnson in his book ― The Entrepreneur Mind‖ to as the
Entrepreneur Mind.
Strategies for Entrepreneurs
All entrepreneurs must ask themselves three vital questions that concern their
business strategy: Where are we now? Where do we want to be? How do we get

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there? If we don‘t know the answers to these questions, we don‘t have a strategy
for success. Businesses with a clear and a solid strategy are prepared to win.
―Thinking Big‖
Despite its popularity,―Think big‖ is ubiquitous and the saying has no clear
meaning, especially as it relates to business. In business, ―thinking big‖ simply
means pursuing ideas that maximize the scope of your potential. Likewise, it can
mean pursuing ideas that have maximum impact in the world. Despite its simple
definition, thinking big is difficult to do for many reasons, but if you are aware of
the obstacles you can avoid them altogether
One of the main obstacles to thinking big is the inability to outgrow our
environment and this result in inability to create businesses that go beyond the
confines of their reality or environment. In other words, the environment in which
we operate restricts our thinking to the point that the business suffers limited
growth or even death.
Many entrepreneurs lack the motivation to pursue big ideas. This mentality is
prevalent among entrepreneurs who have had some level of monetary success in
business that diminishes their willingness to pursue bigger ideas. The
entrepreneurs remain in their comfort or have become accustomed to going for
low-hanging fruit. It could also be that, these entrepreneurs could simply be
overwhelmed with running their own business and don‘t have the bandwidth to do
anything else. For overcoming lack of motivation, entrepreneurs should find an
individual or team to hold them accountable for pursing their big idea, step by step.
Several entrepreneurs lack the self-confidence to think big. They don‘t see
themselves running a large organization, or they are frozen by the immensity of
their idea. They may ask themselves, where do I start? How will I build a team
capable of pulling this of? Where will I get the start-up capital for such a huge
idea? To boost your self-confidence, devise and take small steps that start you

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working on your idea. For example, do some basic research about your idea or
write down your ideas. If you are like most people, these small wins will add up to
increase your confidence and to propel you forward.
An Entrepreneur may often lack the diversity and expertise of influencers required
to think and eventually to execute in a big way. To jump this hurdle, one must
establish a diverse network of individuals who think big and understand what it
takes to arrive at that level. Likewise, they can help you to vet and improve your
idea.
Create New Markets
If I had asked people what they wanted, they would have said faster horses. —
Henry Ford, founder, Ford Motor Company
There are two kinds of entrepreneurs one those who create markets and second
those who do not. On the one hand, the entrepreneur who creates markets is
considered a revolutionary. On the other hand, the entrepreneur who competes in
well-established markets is considered ordinary. Both approaches can lead to
success in business, but research indicates that the creative entrepreneur has a
better strategic position.
Blue Ocean Strategy, a best-selling business book, makes a cogent argument that
creating new markets known as ―blue oceans‖ is better than competing in
overcrowded industries known as ―red oceans.‖Which kind of entrepreneur are
you? If you have a blue ocean, you are on your way to tremendous success.
However, if you are competing in a red ocean, it‘s time to adopt strategies to
spawn innovation, leading your company to significant profits and to a sustainable
competitive advantage.
Work on Your Business, Not in Your Business

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If your business depends on you, you don’t own a business—you have a job. —
Michael Gerber, author, The E-Myth
Until an entrepreneur‘s company runs without the founder, that person is just self-
employed, the lowest rung in the hierarchy of entrepreneurs. The entrepreneurs are
often overwhelmed with their business, doing everything from their own taxes to
taking out the trash. They work nonstop not because they want to but because they
have to. They may act as though they have a team that takes care of everything, but
they don‘t.
Before you even start your business, focus on planning how to get rid of yourself,
especially if the business is service-oriented and you are the one serving. This
outlook is absolutely imperative because once the business gets going; you won‘t
have time to dedicate to planning when work piles up. You naturally will give
priority to serving clients and generating revenue rather than planning your
replacement. Finding quality people to fill all-important roles puts you in the frame
of mind of running a business. In this mode, you are really an entrepreneur, and
that‘s what it is all about. Once you have successfully eliminated the dependency
of your business on you, you can focus on growing your business or even moving
on to your next venture.
All Risk Isn’t Risky
Risk comes from not knowing what you are doing. —Warren Buffett,
businessman, investor, philanthropist
Among the several definitions of an ―entrepreneur,‖ there is a common word
―risk,‖ which is what truly defines an entrepreneur. The following simple
definition by Merriam-Webster is one of the best: ―An entrepreneur is one who
organizes, manages, and assumes the risks of a business or enterprise.‖ The focus
then becomes understanding risk and how it factors into being an entrepreneur.

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―Risk,‖ as defined by the same dictionary, is the ―possibility of loss.‖ What‘s most
interesting about this definition—and contrary to popular belief—is that it doesn‘t
impart a negative value judgment; the definition merely declares the possibility of
loss. In other words, an event can have a 1 percent or a 99 percent probability of
loss. Our response to an interpretation of those two levels of risk makes all the
difference. Entrepreneurs have a higher tolerance for risk than the average person
when it comes to starting and running a business.
Don’t Waste Time Procrastination is opportunity’s natural assassin. —Victor
Kim, entrepreneur; former owner, New England Patriots
The best entrepreneurs create environments of stressful urgency. Entrepreneurs
know that startups rarely get anything done in a relaxed, take-your-time
environment. For example, Steve Jobs, the cofounder of Apple, was notorious for
pushing his team beyond its limits by setting seemingly unrealistic timelines. As a
result, his company created products quicker than they had ever imagined was
possible and thus gained a huge competitive advantage over rival companies like
IBM.
Doctors and psychologists believe that stress caused by time constraints or urgency
has an upside. In fact, they argue that we all need stress in our lives to perform
certain tasks at a high level, ranging from avoiding a car accident to finishing a
report for work. A recent MSNBC.com article explored the benefits of stress:
―When the brain perceives physical or psychological stress, it starts pumping the
chemicals cortical, epinephrine (adrenaline) and nor epinephrine into the body.
Instantly, the heart beats faster, blood pressure increases, senses sharpen, a rise in
blood glucose invigorates us and we‘re ready to rock.‖ The article also quoted
Janet DiPietro, a developmental psychologist at the Johns Hopkins Bloomberg
School of Public Health: ―When you have a deadline, when you have to perform,

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you want some stress to help you do your best.‖ If you lack the sense of urgency to
grow your business, evaluate why you want to be in business.
Ask for Help Tell everyone what you want to do and someone will want to help
you do it. —W. Clement Stone, businessman, philanthropist.
When you start your business, lose the ego immediately. It‘s the main reason that
entrepreneurs don‘t seek help. An overinflated ego even prevents those who ask
for help from receiving it. Rarely do people want to help those who act as though
they don‘t need it. And there‘s a difference between being confident and having an
ego that‘s too big for your own good. Confidence attracts people; ego repels them.
Do What’s Most Important First the key is not to prioritize what’s on your
schedule, but to schedule your priorities. —Stephen Covey, best-selling author,
The Seven Habits of Highly Effective People.
Doing the tasks that are most important in business is counterintuitive. Normally,
these crucial tasks demand more time, energy, and focus than we care to give.
Thus, we avoid them, doing those simpler tasks that really don‘t have a major
impact on our business
Require Criticism and Disagreement in Your Company Honest disagreement is
often a good sign of progress. —Mahatma Gandhi, Indian nationalism leader,
social activist.
Making the decision to pass on a customer is especially difficult for young or new
entrepreneurs who are hungry for business and revenues. However, choosing bad
customers can cause a lot of frustration, drain resources, damage your reputation,
and eventually put you out of business. To help you decide what customers are
worth your time, consider four important signs which indicate that you should not
take a client and gracefully move on from the relationship. These signs apply
especially to entrepreneurs who run a service-oriented or consulting business.

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1. be skeptical of a client who seems not to know what is needed or who constantly
makes changes. For example, if you have a web or graphic design company,
explain clearly your creative process and the time needed for the project. Also, a
client should be comfortable with your capabilities and what to expect from you.
Find out from new clients what attracted them to your work. Show your portfolio.
2. be careful if a client is not willing to pay an hourly rate or a piece rate of some
kind. Agreeing to a fixed cost for your work is not bad per se. However, it‘s not so
great if you end up doing more work than you anticipated. Many clients encourage
you to lower your cost to lock in a good rate. In a gesture of good faith, sometimes
the client will pay you all the money up front. That way, you are beholden to the
client until it receives a deliverable it likes. These types of arrangements can be
especially stressful and strain a relationship to the point of litigation.
3. Avoid any client who hesitates to sign a well-written agreement. This is a true
test of whether a client is worth your time and effort. An agreement or contract
protects both parties and outlines expectations. Without a comprehensive
agreement you have no way to protect your interests, assess the progress of the
work you have done, and verify the deliverable.
4. Take heed of any less than good feelings you have about a potential client.
Don‘t be afraid to fire a client. Just because some customers want you doesn‘t
mean you need them.
A Bad Economy Is a Great Opportunity A pessimist sees the difficulty in every
opportunity; an optimist sees the opportunity in every difficulty. —Winston
Churchill, prime minister, United Kingdom (1940–45, 1951–55)
In short, entrepreneurs do not allow a bad economy to hold them back from
accomplishing their goals. Ironically, poor economic conditions often have the
opposite effect; they motivate entrepreneurs more and propel them to succeed even
faster. Times are not as great as I write, but entrepreneurs ignore the zeitgeist and

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create positive circumstances. They roll up their sleeves and get to work,
anticipating the next growth period. That‘s where you want to be: ready to grab the
bull by its horns and ride.
Chapter 2
STEPS TO BECOME A GOOD ENTREPRENEUR
KNOW YOU ARE ENOUGH!
You need to know that you are enough.
Before anything else, it is of paramount importance that you are completely empty
of self-doubt, self-limiting and unhealthy negative thoughts. Our self-image in our
own eyes is the most important determinant of success. If an individual
himself/herself has self-doubt of his/her ability and is skeptical of achievement of
goals – it is impossible that success is ever attained by him/her. Every person is
able and capable and there is perfection in every creation. Accept yourself and
connect totally with who you are. Be comfortable with your identity which makes
you what you are. Your beliefs, your likes, your dislikes, your perceptions, your
character need not be similar to others. Your identity is central to you and controls
your growth, if you waver and question your identity, then the growth trajectory
also falters. Do not imitate others to achieve success. Be aware of yourself and that
will give you confidence to succeed as yourself.
3 STEPS
FIRST STEP – SET A GOAL TO BECOME ENTREPRENEUR
Whatever it is that you aspire for, if you are passionate about it and desire it truly –
it is your goal. ‗Goal‘ is serious business. Be 100% clear about the reason you
have set your goal and the value your goal holds for you. When your goal is set in

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the correct way, automatically the personality you desire to achieve this goal will
come to you. Your goal can be attained only and only when it seems real to you. If
you truthfully and faithfully believe in what you desire you will most definitely
attain it. Nothing can stop you; no amount of roadblocks and no failures seem like
dead-ends when you are focused on your goal and nothing else.
Belief, faith, conviction are words that move mountains. It is a state of one‘s mind
which can lead the owner of that mind to achieve things that no one has ever
achieved just by the mere presence of this small little word ―Belief‖ - Belief in
your idea, belief in your line of action, belief in the outcome, belief in yourself.
Condition your mind to see that whatever comes in your way in your journey
towards the attainment of your desire are not obstacles but situations which you
will mold in your favor. The universe will work with you for you to achieve what
you desire.
REMEMBER STEP #1 - Set a GOAL to chart a journey from seeker to
creator.
SECOND STEP - ALIGN YOUR THOUGHTS WITH YOUR GOAL
The ultimate power lies in your own thoughts.
The single most important factor which directly determines your position in life is
your own mind. The ‗Placebo Effect‘ is a proven fact that some patients' health
improves after taking what they believe is an effective drug but which is in fact
only a placebo (a substance or treatment of no intended therapeutic value).
Therefore a person can recover from illness just by his own mind only thinking
that he is being treated.
Your achievement is a consequence of how your mind thinks. A ‗Thought‘ is the
Alpha and Omega of success. Buddha said ‗what you think, you become‘.
Accomplishment of your goal has already started when the seed was sown in your

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brain as a thought. To be successful, you have to first train your mind. You must
master your mind and have dominance over your thought.
Imagine wealth, victory, success – and you will achieve it. You want success and
the universe will serve it to you if you can control your thought process. A human
mind is a reservoir of power: It can conjure up zillion thoughts. The art is in taking
that one thought which you believe in, and turning it into reality.
Fill your mind with positive thoughts. Let there be no place for negativity, gossip,
worry and criticism. You will destroy the beautiful seed of pure thought even
before it germinates. Water your thought, nurture it and let it grow into
unimaginable wealth and success. Every individual is his own person. He alone
knows what motivates him and drives him to achieve. With his personal
experiences and emotions he alone can work on his impulse to make it a reality.
Don‘t poison that beautiful ability by clouding it with negative thoughts.
The aphorism, "As a man thinketh in his heart so is he," not only embraces the
whole of a man's being, but is so comprehensive as to reach out to every condition
and circumstance of his life.
REMEMBER STEP #2 – Align your Thoughts with your goal
THIRD STEP – JUST GO FOR IT! TAKE ACTION TO ACHIEVE
Niyataṁ kuru karma tvaṁ karma jyāyohyakarmaṇaḥ|
Śarīrayātrāpi ca tenaprasiddhyedakarmaṇaḥ||8||
Sri Krishna said: Perform your prescribed duty (karma) because action (karma) is
superior to inaction. Even the maintenance of your body cannot be accomplished
through inaction.

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Action is imperative to achieve. Action is just the simple act of doing. It is
common knowledge that no idea can be turned into reality without action on the
idea. Creation of an idea and the desire to turn it into reality backed by all the
monetary power available will still not guarantee riches unless there is action
performed towards that idea. Over- analyzing and over-thinking will kill the idea
even before inception.
So, the key is to start and start now! If you want to earn your millions in your
profession, have faith in yourself, just pick up a pen and paper and write down a
detailed plan action schedule regarding the steps you will take to achieve your
goal. Be ready to give yourself that push of ignition to just ‗begin‘ like the starter
in a vehicle – your initiation of action to attain your goal can be compared to the
starter in a vehicle because it is the most important device which is used to rotate
an internal-combustion engine so as to initiate the engine's operation under its own
power, without which the entire vehicle, the time and money spent on its creation
is a waste, and the same holds true for your ‗action‘.
So, if you want to become rich, successful, reach the great heights of success you
have imagined in your life – it‘s not going to come to you while you just sit there
at your table dreaming about it.
The more you work, struggle and do whatever it takes to reach closer to your goal,
you will observe that the worst is over and somehow things are getting better and
better. Remember your goal and your well defined plan to achieve your goal, just
focus on it; it will give you the strength to keep moving forward. Patiently persist.
Don‘t lose your enthusiasm when you suffer setbacks on your road to success.
They are mere stumbling blocks. Gather your determination and tenaciousness and
with single-minded strength of purpose forge ahead. The harder you work, the
closer your goal will seem. To reach the pinnacle of success you have to climb the
small little steps on the staircase which will take you there.

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REMEMBER STEP #3 – Take Action to achieve your Goal. Don’t wait for
things to happen to you….Go out there and make them happen!
SKILLSETS OF ENTREPRENEUR
-―A you are what you think you are”-James Allen
“If you want something you’ve never had, you must be willing to do something
you’ve never done.” - Thomas Jefferson, American Founding Father and third
President of the United States
As an entrepreneur understanding what you want or what the goal that we wish to
reach is determines the kind of business enterprises we will incorporate.
The concept of karma (the law of Action) is the core idea of the Bhagavad Gita,
the Holy Hindu Scripture. You have to find what you are truly passionate about. If
today were the last day of your life, would you want to do what you are going to
do today? If the answer is ‗No‘, it is certain that something is wrong and needs to
be changed. For you will attract riches and fame only if you are doing something
you are passionate about. Fuel the passion. Infuse enthusiasm into your work –
then only you will achieve success. If you think you can - you will. If you think
you can‘t - you won‘t. Your ‗WILL‘ can change everything. It can pull you out
from the depths of misery. It can give you hope. It can make you millions. It can
change your fortunes and your future. The ‗will‘ comes from ‗within‘. You are
unstoppable once you have willed it.
“Whatever course you decide upon, there is always someone to tell you that you
are wrong. There are always difficulties arising which tempt you to believe that
your critics are right. To map out a course of action and follow it to an end
requires courage.”– Ralph Waldo Emerson, American essayist, lecturer, and poet

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Bhagvat Geeta describes the qualities of an individual that help him attain his goal.
It says for a entrepreneur to attain his goal he should possess fearlessness, purity of
mind, steadfastness in spiritual knowledge, charity, control of the senses,
performance of sacrifice, study of the sacred books, austerity, and
straightforwardness; non-violence, truthfulness, absence of anger, renunciation,
peacefulness, restraint from fault-finding, compassion toward all living beings,
absence of covetousness, gentleness, modesty, and lack of fickleness; vigor,
forgiveness, fortitude, cleanliness, bearing enmity toward none, and absence of
vanity.
What differentiates a person who is goal oriented versus a person who has no goal
set for himself is that the first one is determined to achieve it no matter what.
Here are some of the skills you need as an entrepreneur
a. Interpersonal skills and Customer Interaction.
Almost every business requires you to interact with customers, vendors, debtors,
creditors and other stakeholders on a daily basis. Your one to one interaction is
important as the people judge the integrity, longevity and prosperity of the
business based on their interaction with the people behind the company. So even
the most innovative and productive idea may fall flat if the face behind the
company is not dependable. The ability to communicate or interact well with other
people (whether it is peers, subordinates or your team) is what is known as
interpersonal skills. They may include a variety of activities like –
Communication, Listening, body language, ability to collaborate, display of work
ethics and workplace etiquette, display of personal etiquette, commitment capacity,
professionalism, problem solving capability, decision making ability, self-
confidence, receptiveness to feedback, showing appreciation, positive attitude and
overall vibrant demeanour. Improving interpersonal skills will keep you in the
good memory of people and attract people to do business with you.

23
b. Your AIDA – Awareness, Interest, Desire, and Action –Model
It is a fallacy that destiny will play a part in getting customers to your doorstep and
taking your business to great heights while you sit nestled in your cocoon waiting
for them to approach you. Action is imperative.
In 1898, E. St. Elmo Lewis, American advertising and sales pioneer, developed a
model which mapped a theoretical customer journey from the moment a brand or
product attracted consumer attention to the point of action or purchase. According
to this concept, every sale has four parts. These four parts are referred to as AIDA
– an acronym which stands for Awareness, Interest, Desire, and Action. The
Awareness stage stands for making the customer aware of the existence of a
product or service; The Interest stage represents generating genuine customer
interest in your product or service; The Desire stage involves getting the customer
to make a decision; The Action stage is getting the customer to take the next step
towards purchasing the chosen product or service.
Get your AIDA model in order and analyze how you will take your customer from
‗awareness‘ to ‗action‘. By breaking down your way of dealing with the customer
into these four basic parts, you will be able to identify areas where you need to put
in more conviction and effort to increase your business growth.
c. Customer Profitability
The meaning of ‗customer profitability analysis‘ is simply analyzing whether a
customer is profitable for your business or not. It seems highly inappropriate to
suggest that a ‗customer‘ could be a deterrent for business growth. However, the
idea behind ‗customer profitability analysis‘ is to determine whether it costs more
to do business with certain clients than what they bring in. It is a method of

24
looking at the various activities and expenses incurred in servicing a particular
customer within a given period of time while determining its profitability to the
business.
The rationale for doing a customer profitability analysis lies in the fact that once
you are able to measure the customer profitability, you will be able to consciously
manage it too. There are many ways to assess your customer‘s value to your
business viz. sales volume, gross margin, profitability, number of transactions, and
average sale per transaction etc. You can then use this information to identify high
value customers for your business who value and will pay for your company‘s
products and services and in turn focus your resources and energies on
highlighting opportunities with respect to them. This will improve your
productivity and result in business growth.
d. How you manage your Time
Much has been written and said about the importance of managing ‗time‘, but
somehow everyone is always short of it. So, are you doing it right?
If the Egyptians had known when they invented the 24-hour day that the future
generations will use it as an excuse for not getting things done in time, I‘m sure
they would have added a couple of hours more to the day. However, we would
have found excuses of shortage of time in that scenario as well! Without realizing
we have mastered the art of ‗blaming time‘ as a culprit for everything that goes
wrong in our life. Now approach the 24-hour day with the attitude that you have
86400 seconds in a day! Now that‘s a lot of time.
The reason a 24-hour day seems short is because when we prioritize our jobs, we
take it as an excuse for never completing the ones on low priority. We all have
things we don‘t want to do, but we have to do them anyway. However, in life you

25
cannot chose the enjoyable parts and leave out the unpleasant parts of a task. You
have to do the entire job. That‘s the only way to reach your goal. The sense of
accomplishment you will feel at the end of the most hard, boring and complicated
task is immeasurable. There is a methodological way of increasing the hours in the
day. For having more than 24 hours a day, improve your time management skills.
Prioritizing is essential but it will not create more time; it will only tell you what is
more valuable to be done first. We must prioritize but at the same time must
realize that those tasks on low priority or also essential for business growth and we
must eventually get down to them.
B The Pareto principle (also known as the 80/20 rule, the law of the vital few, or
the principle of factor sparsity) states that 80% of consequences come from 20% of
the causes. Vilfredo Pareto an Italian economist and sociologist used this principle
to establish the relationship between the inputs and outputs. The principle can be
applied to various economic factors like land and illustrates the notion that
majority of the things are controlled by the minority of the people.
The Pareto Principle can be applied in a wide range of areas such as
manufacturing, management, and human resources. The most important
application of the pareto principle has been used in personal time management.
Time management has been a challenge to most of the people. In order to
effectively utilize the time, one needs to identify the "repeated patterns" in your
daily schedule that may be causing problems to your productivity.
The pareto principle states that most people tend to thinly spread out their time
instead of focusing on the most important tasks. In terms of personal time
management, 80% of your work-related output could come from only 20% of your
time at work.
C: Parkinson‘s law is an adage that ―Work expands so as to fill the time available
for its completion‖. The law was given by Cyril Northcote Parkinson who was a

26
British naval historian and an author in an essay published in the Economist in the
year 1955. The law applies to any work; however Parkinson used this to describe
the bureaucracy in an organization.
The application of this law can be seen in every sphere right from the way we
spend our time on personal tasks to the way how we spend our time in the
organization. For someone who has a lot of time at disposal and has very few tasks
to accomplish, they can expand their work to fill the available time. Whereas for
someone who has many tasks to be achieved in lesser available time, the work
shall be done in a quick manner shrinking the time available.
One of the essentials of any goal we set, we have to have a clear definition of the
time line we wish to complete the task. If we say we wish to complete the book in
a year‘s time, we will expand our work of writing the book over a period of one
year. Whether the actual time required for completing the book is one year, is
something that each one has to decide. My experience tells me that, the longer one
takes to complete, the enthusiasm gets diluted. The focus shifts and the idea die
down.
MANAGING SELF IS FIRST TASK OF ENTREPRENEUR/STARTUP
OWNER
Managing self is the first task of the entrepreneur. One must have control on all the
five senses. Our thought either creates or destroys us. We have to be mindful of
what we think. Our mind has to be our servant who can take instructions and not
our master who gives us instructions
Sales – impression of increase attitude- value addition of user of services/buyer of
products
Wallace Wattles in his book ―The Science of getting Rich‖ says that we should
leave everyone with the impression of increase.

27
Simply put, to convey the impression of increase, you must want the same for
everybody that you want for yourself. It‘s leaving others feeling better than before
they met you.‖
As an entrepreneur the impression of increase gives us a mantra of sustainable
business. The sense of serving the clients with your products or services with an
impression of increasing creates a sense of satisfaction with the buyers or
consumers of your service. When as an entrepreneur you provide services with
value addition it creates a sense of delight among the consumers. Such consumers
stick to you and your products or services. As is said there is no publicity like that
from a satisfied customer, your customers bring in more customers for you. It must
be borne in mind that this attitude of impression of increase must be followed by
the businesses even when they are at the no 1 position in their field, it is often seen
that entrepreneurs who bring gratitude and value addition together, survive any
economic downturn because their customers hand hold them during these times.
As an entrepreneur, this impression of increase helps you generate more and more
clients and opportunities. This again leads to the triggering of the principle of
attraction. More satisfied clients attract many more satisfied clients.

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Chapter 3
HOW TO EXPAND YOUR BUSINESS OR PROFESSION BY USING THE
MARKETING STRATEGIES
Marketing refers to activities a company undertakes to promote the buying or
selling of a product or service. Marketing is the activity, set of institutions, and
processes for creating, communicating, delivering, and exchanging offerings that
have value for customers, clients, partners, and society at large. At a fundamental
level, marketing is the process of understanding your customers, and building and
maintaining relationships with them.
Definition of marketing:
“Marketing is an administrative and social process through which individuals
and groups obtain what they need and desire by the generation, offering and
exchange of valuable products with their equals‖.
The above definition is from book ―Management “by Mr. Philip Kotler (born 27 May
1931), a renowned American Marketing author who has been the International
Marketing chair holder at North western University since 1988, one of the most
important business centres of study in the world.
A process – wherein individuals/groups obtains- there need or desire- by
exchanging/offering/ generating or creating/ products
To understand Marketing in details emphasis should be given to the core concepts
such as process, individuals/ groups, need, desire, generation /exchange/offer &
products etc.

29
Marketing is a process involving set of activities, with an aim of making the apt
promotion of product to reach it to the consumer
Individual/group: when it comes to marketing or business consumer has an
immense role to play. Ultimately it is the consumer who is going to decide the
faith of your business. Hence emphasis must be given to the their needs & desire
When it comes to conceptual definition of need and desire, the concept of
Need refers to those that are necessary for survival. On the other
hand, Desire refers to those that people want in life although there is not threat to
survival if the individual fails to accomplish them.
Exchange is one of the way people/ consumer can obtain a product. It happens
when one individuals strives to exchange something of value to another individual
So far as marketing is concern the definition of products must be extended
to include intangible objects as well, because they can be offered to a market as
well. Therefore, the broad definition of product includes services, events, persons,
places, organisations or even ideas

30
Chapter 4:
DIVERSIFICATION
Diversification can be understood as the corporate strategy that a company
implements to increase the market share and sales volume by introducing new
products in new markets or industry, which is distinct from its core business.
Simply put, diversification refers to the expansion of business by entering into a
completely new segment or investing in a business which is external to the scope
of the company‘s existing product line. Businesses use this strategy for managing
risk by potential threats during the economic slowdown.
The Expansion through Diversification is followed when an organization aims at
changing the business definition, i.e. either developing a new product or expanding
into a new market, either individually or jointly. A firm adopts the expansion
through diversification strategy, to prepare itself to overcome the economic
downturns.
The Expansion Strategy is adopted by an organization when it attempts to
achieve a high growth as compared to its past achievements. In other words, when
a firm aims to grow considerably by broadening the scope of one of its business
operations in the perspective of customer groups, customer functions and
technology alternatives, either individually or jointly, then it follows the Expansion
Strategy. The reasons for the expansion could be survival, higher profits, increased
prestige, economies of scale, larger market share, social benefits, etc.
Go through the examples below to further comprehend the understanding of the
expansion strategy. These are in the context of customer groups, customer
functions and technology alternatives.

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1. The baby diaper company expands its customer groups by offering the
diaper to old aged persons along with the babies.
2. The stockbroking company offers the personalized services to the small
investors apart from its normal dealings in shares and debentures with a
view to having more business and a diversified risk.
3. The banks upgraded their data management system by recording the
information on computers and reduced huge paperwork. This was done to
improve the efficiency of the banks.
In all the examples above, companies have made significant changes to their
customer groups, products, and the technology, so as to have a high growth.

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Chapter 5:
HOW TO SALE? THINGS TO REMEMBER
How to sale? Is currently one of the major question that bring to our minds,
people often ask the same question, they ask it goggle, in person, to their
mentors and literally every other person. The purpose is everybody & each one
of us wants to understand how to sale, how to prepare that perfect pitch which
can get them results.
Things to remember:
Sale is not a Power Point Presentation which you can prepare in person then
pitch it somebody and expect magical results to happen!
Surprisingly sale is just a three way process, it just involve Three Questions.
Question which you need to ask your client:
1. Where they are today? / What is their current standard?
2. Where do they want to reach? / What is their goal?
3. What is that one thing which is stopping them to reach that goal? /
this means why they are not able to reach to that point today?
If you can understand that problem and then provide the solution which you have
which can either make them achieve their goals faster or in a easier way or in a
better way, then magically the sales will happen.
These are the core question which sums up the logical aim of selling, you will not
be needing any fancy presentation or fancy sales person.
Thing to remember:

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Find the pain point of your client and the sales is done
Chapter 6:
LESSONS TO LEARN FROM THE EXAMPLES OF STRATEGIES
APPLIED BY SUCCESSFUL BUSINESSES
1. Tesla, Inc. (www.tesla.com)
Tesla, Inc. (formerly Tesla Motors, Inc.) is an American electric
vehicle and clean energy company based in Palo Alto, California. Tesla's
current products include electric cars, battery energy storage from home to grid
scale, solar panels and solar roof tiles, and related products and services.
The CEO of Tesla Mr. Elon Musk is currently the world's second richest
person, according to the Bloomberg Billionaire Index, after overtaking
Microsoft billionaire Bill Gates.
Tesla being the biggest automobile company in the world and interestingly their
marketing budget for paid media is 0.
1) Exclusive premium buying process:
There are only limited number of cars of a particular model which can only be
order through online process, no salesmanship & no dealership
2) CEO‘s personal branding:
Elon Musk is one of the most followed personalities on twitter that‘s every time
when the new model is in market only one tweet about the new model is
enough for marketing
3) The winning vision statement of Tesla:
We want to create the most compelling car company in the world

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2. Amazon:
It is an American multinational technology company based in Seattle, Washington,
which focuses on e-commerce, cloud computing, digital streaming, and artificial
intelligence. It is considered one of the Big Five companies in the U.S. information
technology industry, along with Google, Apple, Microsoft, and Facebook.
CEO of Amazon Mr. Jeff Bezos is currently the World‘s no. 1 riche person with
the net worth on $187.0 B
Introduced “cash on delivery”
Amazon‘s entire strategy was to take money first and then deliver the product
however Indians don‘t trust online websites so easily that‘s why Amazon started
the concept of ―Cash on Delivery‖ for the first time in the world
3. Mc Donald ( www.mcdonalds.com / www.corporate.mcdonalds.com):
McDonald's Corporation is an American fast food company, founded in 1940 as
a restaurant operated by Richard and Maurice McDonald, in San Bernardino,
California, United States.
CEO: Christopher John Kempczinski is an American business executive, and the
president and chief executive officer of McDonald's Corporation
Introduced “Aloo Tikki burger in India”
For the first time in the world Mc Donald started/ introduced ―Aloo Tikki burger‖
in India because Indians love potatoes and Indian spices. Mc Donald didn‘t have
any Veg Burger before that
4. Dunking donuts (www.dunkingdonuts.com):

35
The Dunking Donuts is an American multinational coffee and doughnut company.
It was founded by William Rosenberg in Quincy, Massachusetts, in 1950.
CEO: David Hoffmann
Introduced “Maska and Chai”
They realised that Indians are not going to enter their shops just to eat donuts that
is why they launch ―Muska and Chai‖ for the first time in the world

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Chapter 7:
OPPORTUNITIES / DOORS OF MARKETING
Have you ever stopped and think in how many different ways you can market your
products and consequently increase you sale.
1. Above the Line Marketing (ATL Marketing):
Above the line marketing is using mass media to market to a wide audience.
The strength of above the line marketing is potential reach; the downside is often
relevancy. This kind of marketing is the kind of marketing that has a very broad
reach and is largely untargeted. Think about a national TV campaign, where
viewers across the nation see the same advert aired across the various networks.
This kind of marketing is mostly used for building brand awareness and goodwill.
Subheads of ATL Marketing:
I. Newspapers: Newspapers are one of the traditional mediums used by
businesses, both big and small alike, to advertise their businesses.
Advantages
• Allows you to reach a huge number of people in a given geographic area
• You have the flexibility in deciding the ad size and placement within the
newspaper
• Your ad can be as large as necessary to communicate as much of a story as you
care to tell

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• Exposure to your ad is not limited; readers can go back to your message again
and again if so desired.
• Free help in creating and producing ad copy is usually available
• Quick turn-around helps your ad reflect the changing market conditions. The ad
you decide to run today can be in your customers' hands in one to two days.
Disadvantages
• Ad space can be expensive
• Your ad has to compete against the clutter of other advertisers, including the
giant‘s ads run by supermarkets and department stores as well as the ads of your
competitors
• Poor photo reproduction limits creativity
• Newspapers are a price-oriented medium; most ads are for sales
• Expect your ad to have a short shelf life, as newspapers are usually read once and
then discarded.
• You may be paying to send your message to a lot of people who will probably
never be in the market to buy from you.
• Newspapers are a highly visible medium, so your competitors can quickly react
to your prices
• With the increasing popularity of the Internet, newspapers face declining
readership and market penetration. A growing number of readers now skip the
print version of the newspaper (and hence the print ads) and instead read the online
version of the publication.

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II. Magazines: Magazines are a more focused, albeit more expensive,
alternative to newspaper advertising. This medium allows you to reach
highly targeted audiences.
Advantages
• Allows for better targeting of audience, as you can choose magazine publications
that cater to your specific audience or whose editorial content specializes in topics
of interest to your audience.
• High reader involvement means that more attention will be paid to your
advertisement
• Better quality paper permits better colour reproduction and full-colour ads
• The smaller page (generally 8 ½ by 11 inches) permits even small ads to stand
out
Disadvantages
• Long lead times mean that you have to make plans weeks or months in advance
• The slower lead time heightens the risk of your ad getting overtaken by events
• There is limited flexibility in terms of ad placement and format.
• Space and ad layout costs are higher
III. Radio
Advantages
• Radio is a universal medium enjoyed by people at one time or another during the
day, at home, at work, and even in the car.

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• The vast array of radio program formats offers to efficiently target your
advertising dollars to narrowly defined segments of consumers most likely to
respond to your offer.
• Gives your business personality through the creation of campaigns using sounds
and voices
• Free creative help is often available
• Rates can generally be negotiated
• During the past ten years, radio rates have seen less inflation than those for other
media Disadvantages
• Because radio listeners are spread over many stations, you may have to advertise
simultaneously on several stations to reach your target audience
• Listeners cannot go back to your ads to go over important points
• Ads are an interruption in the entertainment. Because of this, a radio ad may
require multiple exposures to break through the listener's "tune-out" factor and
ensure message retention
• Radio is a background medium. Most listeners are doing something else while
listening, which means that your ad has to work hard to get their attention
IV. Television
Advantages
• Television permits you to reach large numbers of people on a national or regional
level in a short period of time
• Independent stations and cable offer new opportunities to pinpoint local
audiences

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• Television being an image-building and visual medium, it offers the ability to
convey your message with sight, sound and motion Disadvantages
• Message is temporary, and may require multiple exposures for the ad to rise
above the clutter
• Ads on network affiliates are concentrated in local news broadcasts and station
breaks
• Preferred ad times are often sold out far in advance
• Limited length of exposure, as most ads are only thirty seconds long or less,
which limits the amount of information you can communicate
• Relatively expensive in terms of creative, production and airtime costs
2. Below the Line Marketing (BTL Marketing):
This kind of marketing is the kind of marketing that targets specific groups
of people with focus. For example, a leaflet drop in a specific area, a Google Ad
words campaign targeting a certain group or a direct telemarketing campaign
targeting specific businesses. This kind of marketing is best for conversions and
direct response.
Sub Heads of BTL Marketing:
I. Price promotions
Price promotions are also commonly known as" price discounting". These can be
done in two ways:
(1) A discount to the normal selling price of a product, or
(2) More of the product at the normal price. Price promotions however can also
have a negative effect by spoiling the brand reputation or just a temporary sales

41
boost (during the discounts) followed by a lull when the discount would be called
off.
II. Coupons
Coupons are another, very versatile, way of offering a discount. Consider the
following examples of the use of coupons:
- On a pack to encourage repeat purchase
- In coupon books sent out in newspapers allowing customers to redeem the
coupon at a retailer
- A cut-out coupon as part of an advert
- On the back of till receipts
The key objective with a coupon promotion is to maximize the redemption rate -
this is the proportion of customers actually using the coupon.
It must be ensured when a company uses coupons that the retailers must hold
sufficient stock to avoid customer disappointment.
Use of coupon promotions is often best for new products or perhaps to encourage
sales of existing products that are slowing down.
III. Gift with purchase
The "gift with purchase" is a very common promotional technique. In this scheme,
the customer gets something extra along with the normal good purchased. It works
best for -Subscription-based products (e.g. magazines) -Consumer luxuries (e.g.
perfumes)
IV. Competitions and prizes

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This is an important tool to increase brand awareness amongst the target consumer.
It can be used to boost up sales for temporary period and ensure usage amongst
first time users.
V. Money refunds
Here, a customer receives a money refund after submitting a proof of purchase to
the manufacturer. Customers often view these schemes with some suspicion -
particularly if the method of obtaining a refund looks unusual or onerous.
VI. Frequent user / loyalty incentives
Repeat purchases may be stimulated by frequent user incentives. Perhaps the best
examples of this are the many frequent flyer or user schemes used by airlines, train
companies, car hire companies etc.
VII. Point-of-sale displays
Shopping habits are changing for the people living in metropolitan cities. People
prefer big retail outlets like Big Bazaar to local kirana stores. Most of the decisions
of buying are taken by the virtue of point-of-sale displays in these retail outlets.
3. Through the Line Marketing (TTL Marketing):
This kind of marketing is really an integrated approach, where a company would
use both BTL and ATL marketing methods to reach their customer base and
generate conversions. It might seem obvious, although not all marketing
campaigns are like this – some are ATL only and some are BTL only (it would be
much more common to see a BTL-only marketing campaign in practice
though).This kind of marketing delivers both a wide reach and a focus on
conversions.
Things to remember:

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ATL marketing definition: Above-the-Line Marketing- widespread brand-
building advertising
BTL marketing definition: Below-the-Line Marketing- highly targeted direct
marketing focused on conversions
TTL marketing definition: Through-the-Line Marketing- integrated ATL and
BTL marketing campaigns
The terms ATL and BTL were first used in 1954 after Proctor and Gamble began
paying advertising firms separately (and at a different rate) from other suppliers
who dealt with more direct promotional efforts. In effect, marketing that was more
broad in nature was separated from marketing that was more direct in nature.
4. Account-based Marketing:
Account-based marketing is an alternative B2B marketing strategy that targets
customers who have a particular type of account. It‘s a form of segmentation [and
in marketing, specificity is always a good thing].
Account based marketing can help companies to:

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 Increase account relevance
 Engage earlier and higher with deals
 Align marketing activity with account strategies
 Get the best value out of marketing
 Inspire customers with compelling content
 Identify specific contacts, at specific companies, within a specific market
5. Acquisition Marketing:
This is a marketing tactic that's sole purpose is to bring new customers or clients to
a business. The ultimate aim is to create an acquisition marketing strategy that runs
on autopilot. Customer acquisition refers to bringing in new customers - or
convincing people to buy your products. It is a process used to bring consumers
down the marketing funnel from brand awareness to purchase decision.
Top 10 examples of Acquisition marketing:
a) FLIPKART- WALMART: Wal-Mart acquired 77% Flipkart for $16 billion,
making it the largest acquisition involving an Indian company, in 2018.
b) TATA STEEL-CORUS: In 2007, Tata Steel took over European steel major
Corus for the price of $12.02 billion, making the Indian company, the
world‘s fifth-largest steel producer.
c) VODAFONE-HUTCHISON ESSAR: In 2007, the world‘s largest telecom
company (at the time) in terms of revenue, Vodafone, made an entered the
Indian telecom market by acquiring a 52% stake in Hutchison Essar Ltd.
Vodafone purchased 52% stake in Hutchisson Essar for about $10 billion.
d) HINDALCO-NOVELIS: Hindalco Industries Ltd. is a subsidiary of the
Aditya Birla Group and Novelis is a world leader in the production of flat-
rolled aluminum products. The Hindalco Company acquired the Canadian

45
company Novelis for $6 billion, making the combined entity the world‘s
largest producer in rolled-aluminum.
e) RANBAXY-DAIICHI SANKYO: In 2008, Daiichi Sankyo Co. Ltd., signed
an agreement to acquire the entire shareholders of Ranbaxy Laboratories
Ltd, India. Ranbaxy‘s sale to Japan‘s Daiichi was priced at $4.5 billion.
f) ONGC-IMPERIAL ENERGY: In early 2009, Oil and Natural Gas Corp. Ltd
(ONGC) took control of Imperial Energy, a UK Based firm operating in
Russia for the price of $1.9 billion.
g) MAHINDRA & MAHINDRA-SCHONEWEISS: In 2007, Mahindra &
Mahindra acquired 90 percent of Schoneweiss, a leading company in the
forging sector in Germany. This consolidated Mahindra‘s position in the
global market.
h) STERLITE-ASARCO: In the year 2009, Sterlite Industries, a part of the
Vedanta Group, signed an agreement to acquire the copper mining company
Asarco for the price of $2.6 billion.
i) TATA MOTORS-JAGUAR LAND ROVER: Tata Motors‘ acquisition of
luxury car maker Jaguar Land Rover was for the price of $2.3 billion, in
2008.
j) SUZLON-REPOWER: Wind Energy premier Suzlon Energy acquired
RePower for $1.7 billion. Suzlon Energy Limited is a wind turbine supplier
based in Pune, India and RePower systems SE (now Senvion SE) is a
German wind turbine company founded in 2001, owned by Centre bridge
Partners.
6. Affiliate Marketing:

46
Affiliate marketing is the act of marketing someone else‘s brand, website, product
or service in return for a fee. The fee is performance-based. The more successful
the affiliate marketing is, the more the affiliate will get paid.
7. Affinity marketing : Also known as partnership marketing affinity marketing is
about creating strategic, mutually beneficial partnerships.
Businesses partner together so that they can leverage different audiences and
increase their brand awareness.
8. Agile marketing: Agile marketing is about being open, receptive and
responsive to change with your marketing strategy. As the name suggest, it‘s about
being flexible and not sticking to a rigid plan.
You could say, then, that agile marketing is more of an attitude than a
strategy. Inspiration for the term comes from the techie world of agile
development, where iterations to software would be steady and incremental.
7. Alliance marketing : As with affinity or partnership marketing, alliance
marketing is about two businesses collaborating. The difference with alliance
marketing is that the collaboration runs deeper.
Companies that are teaming up [because it can be more than one] pool their
resources to promote and sell a product or service.
8. Ambush marketing: A business that uses ambush marketing will attempt to
associate its products or services with an event that already has official
sponsors. As the name suggests, companies use this low-cost tactic to ambush
events and compete for exposure against competitors.
9. Article marketing:
Article marketing is a type of advertising in which businesses write articles and
then strategically placed on the internet. Articles need to be about relevant topics.

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Once written, they‘re distributed to news outlets, article banks, forums, PR sites
and article submission sites.
10. Augmented marketing: Augmented marketing is the idea of adding value to a
proposition via an additional, innovative offer.
The word ‗augmented‘ means ―having been made greater in size or value‖. So by
laying on extra benefits, augmented marketing increases the chances of a sale.
You‘ll find stacks of examples in the pizza industry, where you find lots of 'buy
one, get one free' offers.
11. Behavioural marketing: Behavioral marketing is marketing to consumers
that‘s automated, but nonetheless based on their behaviour. It is an online
marketing strategy.
Typically, behaviours that trigger a certain marketing message would be when
someone:
 Clicks on a link.
 Visits a certain web page.
 Downloads a PDF.
 Buys something.
 Shares or likes a post on social media
12. Below the line [BTL] marketing
 Below the line marketing is targeted marketing that doesn't use mass media
[so not things like TV, radio, social media and similar things that are widely
consumed]. It‘s the opposite of above the line marketing [see number

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13. Black hat marketing: Black hat marketing refers to unethical SEO tactics.
Google analyzes websites against certain criteria before deciding what to rank
where. There are ways of cheating the system, but doing so would be gambling
with your business. It‘s just not worth it. Any gains are likely to be short-term;
if Google catches on, you can expect your website to incur a penalty
14. Brand marketing:
Brand marketing is the concept of marketing an identity [and not a product or
service]. Most businesses know that they have to work out their brand positioning.
They need to understand what they stand for, what their USPs is and what the
perception of their company are. Sometimes, certainly over the long-term, it pays
off to communicate values over items because it‘s more conducive to encouraging
customer engagement and loyalty.
15. Brick and mortar marketing:
Quite simply, brick and mortar marketing is any form of marketing that exists in a
retail shop.
16. Business to business [B2B] marketing:
Quite simply, B2B marketing happens when one business markets a product or
service to another.
17. Business to consumer [B2C] marketing:
B2C marketing refers to any marketing that‘s specifically dedicated to consumers.
18. Business to people [B2P] marketing:
Business to people marketing is a B2B marketing strategy which recognises that,
in reality, it's not the businesses [as entities] that are buying what you're trying to
sell. It's actually still people that are doing the purchasing [in the form of decision

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makers]. This shift in perspective results in bespoke, personal marketing [which is
always more effective].
19. Buzz marketing:
Buzz marketing is marketing that seeks to induce drama, excitement and
anticipation about a product. When it works, buzz marketing is amazing. The
trouble is, if you get a campaign wrong, everything can fall flat. A poor result can
even wreak havoc with your brand image.
Apple is great at buzz marketing. They sell great gadgets, but have nevertheless
mastered the art of building excitement without saying much.
20. Call centre marketing:
Call centre marketing happens when a business authorizes a specialist company [a
call centre or contact centre] to cold call people [and market a product or service].
21. Call to action [CTA] marketing: This is the name given to any online
marketing collateral that prompts someone to take a specific action. So, we're
talking about any banners, buttons, copy or graphics that ask users to do something
[like download a PDF, subscribe to a newsletter or click a link].
Typically, this action would lead to the user entering some sort of sales funnel.
22. Catalogue marketing:
Catalogue marketing is the act of using a catalogue to showcase products or
services. It‘s a type of direct marketing [see number 48] that‘s most popular with
mail order retailers. Catalogue marketing might seem like a slightly old fashioned
form of marketing, but, perhaps surprisingly, research indicates the people still like
being able to thumb through a catalogue.

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There‘s something about physical marketing that works.
23. Cause marketing:
Cause marketing is attaching some sort of charitable or inspirational angle to a
product, service or brand. Crucially, cause marketing only works when you find a
cause that both the business and its customers care about.
24. Celebrity marketing: Celebrity marketing means getting a celebrity to
endorse a product or service.
The logic is that celebrity endorsements increase sales because consumers can
connect and identify with someone. In other words, to them, it feels like they‘re
buying from the celebrity and not a faceless business.
25. Channel marketing:
Channel marketing is any marketing strategy that helps a product or service reach
the consumer in a quicker, more efficient way.
In business, a ‗channel‘ is all the activities and people involved in taking
something from production to consumption. That‘s stuff like manufacturers,
wholesalers, distributors, retailers, marketing collateral and suchlike.
Interestingly, although this tactic is known as celebrity marketing, a product
doesn‘t need an endorsement from a famous superstar. The ‗celebrity‘ just needs to
be a person who is well known to the target audience.
26. Close range marketing [CRM]
Brands who like close range marketing use WiFi or Bluetooth to send promotional
messages to customers‘ smart phones or tablets. This is usually an in-store
experience, because the customer‘s device must be within range of the shop‘s
transmitter or beacon.

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Also known as proximity marketing close range marketing is a very modern
strategy.
27. Closed loop marketing:
Closed loop marketing is the act of using information and performance data to
produce more effective marketing strategies.
By analysing what‘s working with a campaign and what isn‘t, a business can
eliminate a degree of guesswork from their next project. As the phrase goes, this
reduces uncertainty and ‗closes the loop‘.
28. Cloud marketing:
Cloud marketing is simply using all the modern tools on the internet to continually
connect with and market to customers.
Today, businesses are able to surface the same marketing message in multiple
places. So you might see one ad advert in an email, on a website, on Twitter, on
YouTube, or in your Face book feed.
29. Communal marketing:
Communal marketing happens when a business uses customers‘ stories about a
product or service in a promotional campaign. It‘s marketing that aims to create a
deeper bond between a business and its customers. It‘s very effective because the
people are real.
When they talk about their experiences, it helps non-customers identify with the
product easier. They can see themselves feeling and experiencing the same things.
29. Communal marketing:

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Communal marketing happens when a business uses customers‘ stories about a
product or service in a promotional campaign. It‘s marketing that aims to create a
deeper bond between a business and its customers. It‘s very effective because the
people are real.
When they talk about their experiences, it helps non-customers identify with the
product easier. They can see themselves feeling and experiencing the same things.
30. Community marketing:
Community marketing is any marketing that concentrates on an existing customer
[as opposed to new customers].
Sometimes known as loyalty marketing, community marketing is useful because
the cost of maintaining a customer will always be cheaper than the cost of
acquiring a new one.

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Chapter 8:
BRAND LOYALTY & WAYS TO CREATE BRAND LOYAL
CUSTOMERS
Brand loyalty is the favour given by a consumer in order to buy a specific brand in
a particular product category. Consumers, who give a type of preference for a
brand, have the following mindset:
―I am committed to this brand‘,
―I am willing to pay a higher price for this brand over other brands‖ and
―I will recommend this brand to other‖, a good loyalty can lead to various and
numerous benefits such as an improved market share, lower marketing cost and
improved opportunities for brand extension
In view of Philip kotler, a customer’s loyalty to specific brands has been a big
focal point of strategic marketing planning over the last years. Brand is the image
for a product in a market. Brand loyalty meaning a situation in which a
consumer generally buys the same manufacturer originated product or

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service repeatedly over time rather than buying from more suppliers within
the same category.
Brand loyalty generation:
The usual process of brand loyalty generation is that initially, a consumer makes a
trial purchase of a specific product from a given brand. If the product meets the
customer‘s expectations and gives satisfaction, the consumer often forms a habit of
buying this same product or service.
Six magical ways to create brand loyal customers:
Ask questions: The first step involves asking the customers what they really want,
in the huge sense of the question. This includes that they need in general, what
they are trying to accomplish, what image they are trying to portray, how they
want to be served and so on.
Communicate: The second step is communicating to the customers what they
should expect from the brand. It is of no use to try and please everyone and try to
be all things. Some of strategy usually ends up in too many things half-heartedly
and satisfying no one. Instead, companies should figure out their core
competencies and focus on them, delivering outstanding products and services in a
given area.
Creating ways to provide feedback by customers: Following third step is to
create easy ways for the customers to provide feedback about their brand after
using it. This step is forgotten by many companies. Companies should be creative
in finding ways to get customer feedback regularly and practice it to make sure
that the customers know about these ways.
Listen to your customer: The fourth step, which is closely related to the third one,
is listening to what your customers says about product attributes that actually they
need. This includes both utilizing the customer feedback, as suggested in the third

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step, but also other ways people communicate about their brands, such as through
the Internet or using marketing research agencies. This process needs to be done
on a regular basis with fail.
Repeat the process: The final step is that of repetition of above all process. The
whole process needs to be repeated constantly in order to be successful and
generate higher levels of loyal customers.
Significant effect of brand loyalty:
There are three important outcomes that are the backbone of the importance of
brand loyalty. The first reason pointed out is that companies with high brand
loyalty provide huge sales volumes. According to AnthonyGiddens studies- an
English sociologist, the average company loses around approximately 13% of their
customer base every single year and that shows just how challenging it can be in
the competitive environment of the modern marketing trend. To achieve a mere
1% of annual growth, the sales need to increase by 14% to both new and existing
customers. By reducing customer loss, business growth can be dramatically
improved and brand loyalty can be increased slowly. Those two factors lead to
more consistent sales of greater sales volumes, due to the fact that the same brand
is purchased by the customers repeatedly. The second reason for the importance of
brand loyalty mentioned is premium pricing ability. Giddens and Hofmann stated
that with increased levels of brand loyalty, consumers become less price-sensitive
obviously. They are ready to pay higher cost for their preferred brand because they
sense some special and unique value in that given brands that other brands do not
provide. On top of that, loyal customers are less prone to chase after discounts.
The third and final reason is connected to product search. Customers who loyal to
a particular brand are ready to search for that brand and are less sensitive to
competitors. It causes in lower advertising costs, marketing expenses and

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distribution expenditure. Attracting a new customer costs up to four to six times as
it does to retain an already existing one.
The customer loyalty can reduce susceptibility to competitive actions very much,
since competitors may be discouraged from spending their time and money in
order to attract already satisfied customers. Yet another positive effect of brand
loyalty is that loyal customers often provide more valuable suggestions to
companies, allowing them to enhance their products and services accordingly to
the consumers‘ desires. Finally, loyal customers allocate proportionally more of
their budget to their ―first choice‖ brand than customers who switch to another
brand later on. On top of that, it has been confirmed that loyalty can increase
customers‘ ―forgiveness‖, should a failure in service or quality occur and the
resistance to premium prices is also reduced.
Chapter 9:
MARKETING TREND THAT WILL DRIVE FUTURE:
The definition of what we consider as ―marketing‖ is constantly changing and
becoming broader. Marketing has moved beyond branding and advertising;
marketers must work together with other departments to focus on building great
customer experiences and engaging them for long-term relationships.
Below is the list of marketing trend that will drive future:
1. World class customer experience:
The growth of online content has given consumers more power. They are no
longer a passive party when it comes to learning about products. They‘re not
waiting for you to tell you how great your products are. Instead, they‘re going out
and doing their own research. So you have to offer them something more than
information. Hence the priority has moved towards providing fantastic customer
experiences that will keep people coming back for more. In a sense, when you

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focus on building a positive business culture and providing great service, the
marketing almost takes care of itself.
2. Employee Activation:
Your employees are the human face of your brand, so concentrating on
interactions between your employees and your customers should be a key part of
your marketing strategy. When you‘re turning the responsibility of creating a great
customer service over to your employees, you need to make sure that they want
your business to succeed as much as you do. The key to this is building a solid
foundation of employee engagement and taking steps to ensure every employee
understands and is aligned with your brand mission and values.
3. Visualization:
With the explosion of smart speakers and voice search in recent years, you‘d be
forgiven for thinking that ―readable‖ content is more important than visuals and
design these days. In fact, this couldn‘t be further from the truth. While
advancements in voice search are certainly influencing the way that we‘ll create
content now and in the future, you shouldn‘t neglect visual content either. Visuals
are also easier to remember than written content. Adding data visualizations, info-
graphics, images, and videos to your text not only makes it more interesting and
attractive, but it can help your message to be absorbed better too.
4. Personalization- Your key to their heart:
When a customer has two relatively equal products in front of them, and they
needs to decide which one he or she will buy, my money‘s on the brand that won
their heart. One of the ways to engage your customers‘ hearts as well as their heads
is to personalize marketing to meet their needs.

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5. Focus on Customer Retention, Loyalty and Advocacy:
Recurring customers are more valuable than new customers. Loyal customers also
help to increase the reputation and awareness of your brand as they‘ll talk about
your company and products with their friends and family. Happy customers make
great (and free!) brand ambassadors and influencers.
6. Gen Z will influence Marketing more than Millennials:
Generation Z consists of people who were born from 1995 to 2010. These young
people have grown up in a digital world and have very different viewpoints than
generations that came before them. They‘re also more diverse than any other
generation in history. The first millennials are now approaching their 40th
birthday.
While this age group still makes up a significant proportion of the audience of
many marketers, some predictions made about their importance have fallen short
of the mark. If you‘ve been focusing your marketing strategy on Millennials, it
may be time to take a step back and come up with some new ideas for reaching the
workforce and decision-makers of tomorrow.
7. Growth in emerging markets and a more diverse audience:
Emerging markets in Asia have grown significantly over the last decade and are
expected to continue to grow over the next ten years. The smaller businesses can
market globally too. The key to success is embracing diversity from the inside.
Companies that strive for a diverse workforce and corporate culture will find that
marketing innovation flourishes naturally.
8. Integrated online offline customer experience:
Physical stores with little online presence have been struggling more in recent
years. For many businesses, the 2020 pandemic proved difficult as seeing an
unprecedented number of store closures.

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Conversely, many online retailers and digital brands have thrived. Massive
numbers of consumers have shifted to moving more and more of their purchases
and everyday activities online. However Consumers still prefer physical stores.
But brands must adjust their marketing strategy to take advantage of this increased
digitalization.
9. Consumerism:
Today‘s consumers are more aware than ever before of the effect their buying
habits have on the environment and society. People are taking more care over the
products they choose to buy and the brands they choose to associate with. In the
near future brands will be expected to be ethical in all of their business practices
and use their resources to be a force for good in the world. Those that don‘t will be
left behind as customers choose brands that align with their own values.
Brand responsibility goes beyond marketing. But marketing the things that a
company is doing to make a positive difference in the world may end up being
more effective than advertising its products.
10. The Internet of Everything:
In 2020 the Internet of Things (IoT) has already made significant changes in how
consumers interact with brands. Over the next decade, this trend will ramp up even
more as it becomes the norm for everyday devices to be connected to the internet.
Smartphone‘s, smart watches, and smart TVs are already commonplace. The
technology is becoming smaller and cheaper all the time. In the not-too-distant
future, it‘s likely that almost every electronic device will be ―smart‖ in some way.
Even more striking, smart microchips are already being implanted in humans. This
information can then be used to personalize the customer experience and provide
easier communication and engagement with the brand.
11. Hyper-Local Marketing

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Along with the growth of IoT devices and increased expectation for personalized
customer experience comes increased used of geolocation data in marketing. Local
marketing is certainly not a new concept. Even the largest global brands recognize
the value of customizing their marketing messages on a local level. And search
engines like Google have become very good at serving up businesses in the local
area whether you‘re looking for a coffee or a new pair of shoes.
Now that everyone has a Smartphone, potential customers can be targeted with
marketing messages as soon as they‘re detected to be within a certain distance
from a store. Geofencing means that brands can deliver personalized messages to a
very small set of individuals who are more likely to buy (location-based marketing
has been found to be 20x more effective than standard ads.) This reduces
marketing spend. Budget is not wasted on prospects who are less likely to result in
a sale.
Combining geolocation and IoT technology means some very sophisticated and
personalized marketing is possible. For example, a customer could get a reminder
that they‘re running low on eggs as they‘re passing close to the grocery store.
While marketing trends come and go, the basics of success remain the same:
understand the needs of your audience and communicate with them clearly and
consistently. That‘s why customer-focused content has always been the best way
to establish solid relationships with your audience. It goes without saying that
content marketing will continue to dominate the digital marketing landscape for
some time to come. Most of these trends rely on content in some way. To have
success in them you‘ll need to have a solid base of quality content across all your
marketing channels

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Chapter 10
DIGITAL MARKETING
Indeed the technological changes are significantly altering the behaviour of the
consumer across globe. Consumers have become ―prosumers‖ whereby consumers
are not only at the receiving end but are also getting actively involved in co-
creating, customizing and passionately promoting the marketing content in socially
connected era. This change is affecting the lives of both the marketers and
consumers in concrete ways. The greatest example of change is the ―internet‖ that
has significantly altered the ways of communication, sharing and finding
information and doing business. The tremendous growth of the internet and
particularly the ―World Wide Web‖ (WWW) made consumers and firms
participating in a global online marketplace which eventually urged marketers to
try and deal with the innovative ways of marketing in computer- mediated
environments. This interactive medium of today has crossed the borders of a

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conventional computer‘s screen and has embraced many digital devices namely
mobile phones, smart phones, tablets, digital outdoors and digital TV. This
revolution in digital technologies has urged companies to restructure the marketing
practices, especially in communication to engage successfully with past, present
and potential customers
Digital marketing- a concept:
Digital marketing as a concept is used differently by different people. Many times
it is used synonymously with ―internet or web marketing‖, ―e-marketing‖, ―e-
commerce‖ and ―e-business‖. Although, these terms are inter-related, yet there lies
difference among all the terms
Internet marketing refers to the promotion of goods and services over internet
requiring a real time live internet connection
E-business is a broader term that deals with application of technology in
businesses internal processes and transactions with third party.
It involves e-commerce which represents its commerce side and e-marketing
which includes its marketing side.
E-marketing also known as ―electronic marketing‖ makes use of internet and
digital technologies and involves the promotion of goods or services through
electronic methods or media.
E-commerce which reflects the commercial side of the business refers to buying
and selling using the internet and involves the financial transactions using
electronic media.
The term ―digital‖ can be defined as a data transmission technology which is finite
and non-variable in nature (Kaufman and Horton, 2014). Digital is expressed in
contrast to ―analog‖ which is a continuous data transmission technology. A

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marketing action becomes digital if relies over a digital medium to execute a
marketing function. Digital marketing differentiates itself from the internet
marketing as digital marketing not only includes the channels that require real time
internet connection, but also includes digital outdoors, digital TVs, SMS (Short
Message Service), billboards, mobile apps, MMS (Multimedia Message Service),
call-back and on-hold mobile ringtones, e–books and games with a digital platform
which can run offline too. It uses digital devices, channels and platforms
irrespective of their online or offline nature. Moreover emergence of new age
concepts like wearable technology and augmented reality is pushing the
boundaries of digital marketing beyond internet So, it can be said that internet
marketing is a subset of digital marketing.
Internet the core of digital marketing:
Internet, probably the most important invention of 20th
century, has changed the
scope of marketing. It has emerged as a medium serving multi-channel function of
marketing, sales, distribution and relationship building. Now products are
positioned, marketed, distributed and purchased over internet. Internet has also
altered the traditional marketing mix strategy. It enables the marketer to sell more
variety of mass customized products. Internet facilitates the easy price comparison
among available products for the customers. Internet has added a new channel of
distribution which is convenient, fast and easy. Promotion has experienced the
paradigm shift whereby conversations have taken place of commercial messages
and customers have become story tellers. Marketers are now using many
marketing tactics to implement the digital marketing strategy like SEO*(Search
Engine Optimization), SEM* (Search Engine Marketing), affiliate marketing* and
PPC* (Pay-per-click) and others.
Digital Marketing Communication:

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Marketing communication can be defined as an exchange process dealing with
ideas, thoughts and information between two parties i.e. the marketer and
consumers with the aim of achieving commonality. It is an activity aimed at
conveying information like promoting a product, new product launch and
community initiatives that a marketer wishes to share with public or customers.
Digitalization of communication channels has enabled corporate to build both the
private and public channel of communication.
Various modern digital marketing channels used by the marketers namely the
websites, social networking sites, YouTube, online communities, e-mails, mobile
phones, digital TV and digital outdoors. However broadly classifying digital
channels into content based platforms and digital devices can further simplify the
understanding about digital marketing channels. Content based platforms include
websites, social networking sites, online communities, e-mails and others. Digital
devices include computers mobile phones, digital TV, digital outdoor and others.
Content Based Platforms
Content based platforms include websites, social networking sites, online
communities and e-mails. The section given below gives the details of content
based digital platforms:
a) Website: A company‘s website is a significant communication tool between a
marketer and its customers and lies at the heart of digital marketing. Design and
information content of a website positively affects the customer satisfaction.
Website is normally the first among the digital channels that potential customers
use to explore the information about the marketer. A consumer may explore the
website for seeking information only or may use this platform for buying products.
Websites can be classified into blogs, brand building sites, corporate websites-
commerce site, government site, media sharing site, news site, search engine site,
social networking site and webmail.

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b) Social Networking Sites: Social networking sites have emerged as one of the
most powerful marketing channels for marketers across the globe. They are based
on social media platforms that include online technologies, practices and
communities used by people to create content in the form of text, audio, video
etchant share feelings, knowledge, opinion and experiences with each other.
i. ―YouTube‖ has emerged as one of the most used video sharing social
networking site in recent times. It is one of the most prevalent video sharing
social networking sites where users can upload, share and watch videos.
Vast majority of the content over this platform is uploaded by the
individuals whereas many of the organizations are considering it as a useful
communication medium.
c) Online Communities
Online communities also known as „message boards‟ or „internet forums‟ refer to
web-enabled and supported discussion sites where-by users can converse with one
another in the form of posted messages. The members primarily interact with each
other via internet. Customers have the freedom to choose and become a member of
online communities. Generally members in online communities interact via social
networking sites. However, they also share their opinion in specifically crafted
forums, discussion boards, chat rooms, blogs and comment sections of news sites.
Online communities can be formed by the enthusiast customers, marketers or third
party. Consumers exhibit lot of faith in the online communities as members
appreciate the experience of other community members.
Online communities can be free or owned depending upon the control over the
content. Free communities are built using existing free social networking sites like
―Twitter‖, ―Instagram‖, ―Face book‖, ―Snap chat‖, ―Google +‖ and many more.
Owned communities also known as ―forums‖ are generally owned by the marketer
wherein stricter control over content can be exercised by the marketer. Online

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communities especially the owned communities can be really productive for
marketer in maintaining strong relationship with its customers
d) Emails:
Emails were probably the first real manifestations of internet. Emails have been an
important digital marketing channel for marketers to engage with the customers.
Email acts as a great marketing tool for marketers for obvious reasons of precise
targeting, easiness and cost effectiveness
Digital technologies have had the most significant impact on business
communication process. These modern technologies have reshaped the marketing
communication landscape with its exceptional competencies viz. interactivity,
customization, measurability, accessibility, customer engagement and handling
huge informative bases. Innumerable internet enabled digital devices like desktops,
mobiles phones, digital TV, digital outdoors and digital watches along with
interactive platforms like websites, e-mails and social media offer themselves as a
cost effective substitute for traditional marketing in every industry irrespective
obits size, nature, location and type. So, it makes sense for marketers to focus on
technology that more and more people are embracing like never before.

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Chapter 11:
COMMUNICATION SKILLS WHICH ARE CRUCIAL FOR SALE
SUCCESS
The root of sales success is the ability to gather and provide information in a way
that makes your prospect want to do business with you. Your value proposition,
your pricing, even your product‘s features — none of that matter unless you‘re
able to get your prospects to talk to you and also listen to what you have to say.
1. Pay full attention.
We‘re all busier than ever before, and selling can be an especially pressure-filled
career. So it‘s understandable that during a client meeting, your mind could
wander over to the demo you have to prepare for this afternoon, the prospecting
you forgot to do, or the contract you‘re waiting on to come in.
You have to dedicate 100% of your attention to each call; otherwise you‘ll miss
details and make your prospect repeat things they‘ve already told you. It‘ll be
obvious when you‘re not paying attention, and that‘s no way to treat buyers.

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2. Practice active listening.
Not only do you have to listen, you have to listen actively, otherwise your
conversation won‘t really go anywhere.
3. Read body language and control your own.
The same sentence said by someone who‘s smiling, looking directly into your
eyes, and sitting up straight is received very differently when the speaker is
looking away and slouching — even if they meant the same thing both times.
That‘s because while we can say pretty much anything we want, our body
language often reveals our true intentions or meaning. Great communicators know
how to read others‘ body language so they can anticipate the direction a
conversation‘s heading, and also make sure their own body language isn‘t sending
out signals they don‘t mean to broadcast.
4. Master the nuances of voice tone.
Like body language, voice tone — your voice pitch, volume, speed, and even your
word choice — affects how the words you‘re actually saying are interpreted. And
if you‘re in inside sales, the only thing you have to make an impression is your
voice.
5. Be empathetic
You don‘t necessarily have to agree with everything your prospect is saying, but
you should always at least try to see things from their point of view. And that
means more than just saying, “Hmm, I see where you’re coming from.”
When you can draw on your knowledge of your prospects‘ actual day-to-day,
you‘re better equipped to understand what they care about, which makes it more
likely you‘ll be able to help them.
6. Understand what’s not being said.