BUSINESS MARKETING TIPS #2
NEW INVESTMENT OPPORTUNITY IN SILVER :---
The concept of investing in silver is unfamiliar to many. In a previous article we considered the various options available to us. Silver is counted among the precious metals. Rising or falling prices are more volatile than gold, so returns may be higher. Gold has returned to inflation over the past several years. Will there be a good return from silver in the long run? What do you think In the last 10 years, the return on gold is 10% and the return on silver is less than half a percent.
Gold is the first choice of women all over the world, even though it is followed by silver jewelry. In addition to this, considering the price of silver jewelery and the amount of money that can be deducted from it, the transaction becomes intimate. Although both of these metals are useful, the price of silver is much lower than that of gold. As silver is the most electrically conductive, it is used in many electronics as well as in industry, as well as in photography. As the price fluctuates a lot, it provides various investment opportunities. Silver jewelry with 925 hallmarks is 92.5% purity and silver for industrial use is 99.99% purity. More than half of the available silver is used for industrial use.
Types of investments currently available in silver-
★ Coins, in the form of bars: You can get refund by deducting 2% processing fee if the purity is good that you can invest in silver by buying real coins, bars from Sonara. Financial institutions that sell silver do not repurchase it, but goldsmiths buy it if they have it.
Commodity Market Deals: --
If you want to take advantage of the difference in the price of silver, you can make future deals in it. These deals can be done either by taking the actual silver or by taking advantage of the difference in price. Most commodities are traded on the MCX exchange and 98% of these deals are done to take advantage of the price difference. Deals that are open for the duration of the transaction are closed by exchanging real money.
★ E Silver: Brokerage firms here have entered into agreements with foreign investment institutions while Indian branches of some foreign firms have made these schemes available to their account holders. They should invest only by ensuring minimum brokerage property management costs. Many local and foreign companies have offered the option of buying silver in digital form if they want to buy silver through digital.
M The state-owned company MMTC, in collaboration with a company in Switzerland, offers the option to purchase silver coins and jewelery, which can be purchased online and offline. Milestone has various plans to invest in real estate and precious metals, but they are of no use to the average investor as they require a large minimum investment.
3% GST is levied on actual exchange of silver in metal form.
Now 2 new schemes are being added to these available schemes
वर Silver ETF: The amount accrued under this scheme will be used in pure silver and silver related industries. Although it is a type of mutual fund scheme, its units will be traded on the stock exchange. The initial unit sale of this unit through ICICI Mutual Fund is going on from 5th January 2022 to 19th January 2022. It is the first of its kind in India and aims to take advantage of the impact on the price of silver in wholesale India at the London Metal Exchange.
Its What will be the price on the exchange compared to the present price? This demand has to be studied as it depends on the supply. Another similar scheme is coming from Nippon India Fund from 13th January to 27th January 2022, with a minimum investment of ₹ 1000 / - and a maximum of ₹ 1 / -.
Silver Funds of Funds:
This is a fund that invests only in Silver ETFs and will be like any other mutual fund scheme. The Nippon India Fund is launching such a scheme from 13th January to 27th January 2022, with a minimum investment of ₹ 100 / - and a maximum of ₹ 1 / -. This is not the case. ICICI Mutual Fund plans to launch a similar scheme soon. If the plan operating cost is 1%, brokerage will not have to be paid.
Compared to buying and selling gold, there are only a few ways to buy and sell silver. When buying, you should consider the current market price fluctuations in various parts of the world and in India. If the demand for silver in the industrial sector increases, it is likely that the price of silver will increase sharply in the near future, which could lead to better returns. The relationship between the price of gold and the stock market is contradictory. There are indications that as the industry progresses, the index rises and so does the price of silver. The purpose of this article is to provide information on newly available ETFs and F&F schemes and the investment opportunities that have been made available in this regard and this is not an investment recommendation. Your decision should be made on quality or in consultation with your investment advisor.
👨🏫 *You're not selling a comb to a bald man, are you? So your marketing is wrong, isn't it?*
Both sales which we call sales and marketing which we call marketing are actually the umbilical cord of business. The question of whether sales/marketing is a science or an art is often asked by us as professionals. But basically the business runs on money, capital and the work of bringing money into the business can only be done by sales and is supported by marketing. Before that let us understand the difference between sales and marketing.
Marketing and sales are two different things, but we think of them as one and then we are wrong. Sales is a branch of marketing. There are many such branches of marketing; Like branding, distribution system, customer mindset, advertising, customer relationship and many more and one of them is sales.
Sales plays an important role in this process, where there is sales there is money and where there is money there is business. In today's twenty-first century, it is as important to raise capital for a business as to make a single product or service and to sell that product in the market.
It is easy to do business. We may make the goods or bring them to market using options such as outsourcing, but after the goods are made, the real business is in sales and marketing. When we go to the market with our goods or services, why should the customer buy our goods or services, when a businessman asks the question, he must have an answer.
You should know the USP of your product or service. Today's consumer is alert. He wants quality, he wants taste, not only that, but he wants a brand to go along with it.
He is willing to pay as much as you ask for your product or service, as long as he is satisfied with the product or service you provide. A brand should be created in his mind about your service.
There was a time before when we went to the shop to get clothes powder, we used to ask for Nirma, basically we didn't want the brand Nirma, we wanted laundry powder, still we used to ask for Nirma. Because it is fixed in our mind that cloth powder is Nirma. The same example was of Dalda.
We used to think that vegetable ghee was called Dalda, but Dalda was a company that made vegetable ghee. That's what happened to Colgate. If you think of toothpaste, Colgate and Red Manjan Dabur, Kal Manjan Bitco and white powder Colgate fit in your head.
But now it is not as much as before, customers have become more careful while purchasing the goods. While buying the goods, he keeps a close eye on the price of the goods till the expiry date. You want to sell your product or service to such a market. So we will not be careless in business.
Your brand should reach the customers. The brand should be hammered. This can definitely increase your sales. Your company's sales representative reaches out to a customer with your product or service and often returns empty-handed. So what could be the reasons for this?
They may be different many times. For one, there may be some deficiency in the goods/services. Price may have an effect. Perhaps we have fallen short in packaging. Your item may be new to him or your sales rep has little experience selling it. That is why it is a business need to train the sales representative from time to time. Does the customer to whom we have taken our service or product need our product or service? Aren't we selling a comb to a bald man instead of a medicine for hair growth?
Another step along with branding is segmentation, a segment is a class of customers. It can be by age, gender, geographic location, income, or even urban, rural. So does the customer segment match your product segment? We should see this. Has he heard, seen, used your brand before? Is the price of your product or service affordable to him? There are one or more such questions and we can get answers to all these questions only through the study of marketing.
In short, as an entrepreneur, it is necessary to have a customer horoscope. Kundli means who is your customer? Which segment does it belong to? What is his lifestyle? What is the need for it? So many questions. Along with this, branding is a part of marketing. Basically, branding or marketing never converts the product or service into sales immediately, but branding creates trust in the mind of the customer about the product or service, and this trust motivates the customer to buy your product or service.
Such work is done by consumer psychology. In every product and service there are two distinct types of customer and consumer. Along with this, decision makers, influencers are also indirectly involved in the sales process. A professional should be able to distinguish between them. Psychology is an important part of sales as 90% of the work is done by our brain while buying.
When a customer buys a product or service, he identifies with it. We should understand that too. Equally important is our commitment to the customer, trust and service readiness. A company like Amazon today has reached the doorsteps of villages, where ST. Not going, Amazon has arrived there. All this alchemy is their marketing system and distribution system marketing strategy, trust, product pricing, customer interaction, branding.
Distribution system is a major part of marketing so we should be able to do distribution system in our business along with goods and services in business. We should be able to build a network of distribution system. Wholesalers, retailers, distributors, stockists are important elements in the distribution system for the sale of goods. We should be able to implement schemes, discounts, awards, rewards and sales promotion programs in this network. If your product or service cannot be pushed into the market, it must be able to be pulled. Referral marketing is what you need to do.
Advertising is another branch of marketing. So spending only on advertisement does not mean that your services and goods will be sold. Advertising creates trust in the mind of consumers. Indirect sales help, but not direct sales, so you have to manage the advertising budget. This should also be studied by us as an entrepreneur.
As professionals we must understand the difference between advertising and news. News happens for free and advertising costs money. Print Media, Social Media, Electronic Media, T.V. In the advertising campaign, we should think about the medium through which we are reaching our target customers out of radio, banners, leaflets, magazines. Along with this, a customer relationship management entrepreneur should be able to manage. Your customers are the backbone of your business. If we are meeting our customer only with our services and goods, then our commercial interest is immediately known, but if we are directly involved in the customer's joys and sorrows, then our personal relationship with the customer is formed and this affects the sales process.
All of the above directly and indirectly affect sales and marketing. Because sales and marketing is a science as well as an art. So if you haven't already done so, create separate sales and marketing departments in your business today.
Give proper lessons in sales marketing to the sales representatives, gift them reading books on the subject, organize sales training for them. Because one thing always remember that only sales and marketing bring money in business and therefore sales and marketing is the umbilical cord of the business.
✍️ – Nilesh Deshmukh (The author is a business coach.)
