Q1

Step 1: Know Your Business

You needed to do this exact same thing when working on your business plan, so
this first step shouldn’t be too difficult. After all, nobody knows your business
quite like you do.
Think of this section as your opportunity to provide a general overview of your
current business operations, as well as your internal and external environment.
How long have you been up and running? What’s your business structure? Are
you an LLC or a partnership? Do you conduct business online or through a
storefront? What sorts of products and services do you offer?

Step 2: Determine Target Market

“Target market” is likely a phrase you heard repeated in any sort of marketing
class you ever took or article you’ve read. And, for good reason—it’s a key element
for coming up with effective and successful marketing strategies.
In this portion of your marketing plan, you should list anything and everything
you know about your ideal customer. This includes basic demographic
information, such as gender and age. But you should also dig deeper into their
behaviors and decisions.

Step 3: Analyze Competitors

Wouldn’t it be nice if you operated in a vacuum and never had to worry about any
competitors infringing on your space or stealing your customers? Unfortunately,
business doesn’t work that way. Chances are, there are already companies out
there doing something incredibly similar to you—meaning you’ll need to work
that much harder to stand out.

Step 4: Set Goals

Here comes the fun part—spelling out your marketing related goals for the year.
What objectives do you want to accomplish? Are there specific targets you
want to hit?
Depending on your current situation and ambitions, goals can range from lofty
and grandiose (such as doubling sales or increasing market share) to smaller,
more bite-sized ambitions (like getting 100 new Instagram followers on your
brand’s account or starting a blog for your business).
Step 5: Outline Strategies

Now that you’ve outlined exactly what you want to accomplish, it’s time to
detail the strategies you’ll use to actually reach these objectives.
I recommend taking each goal separately, and listing the related action items
directly underneath it. This allows you to see exactly what needs to get done in
order to push yourself toward that accomplishment. It’s also a great way to get a
handle on whether or not this goal seems realistic or if needs a little adjusting.
You want your goals to be motivating and far reaching, but not so difficult that
they’re just discouraging.

Step 6: Set a Budget

If you’re anything like me, this is the part you dread the most—the numbers. I’ve
never been a math whiz, and just the word “budget” is enough to send me
running for the hills. But, as you already know, it’s a necessary evil when it comes
to running your business.

Step 7: Get to Work!

There you have it! These are the steps you need in order to create a marketing
plan for your business—you just need to put them all together. As mentioned
earlier, marketing plans vary from basic and simple to comprehensive and
complex. And remember, as with everything else, it really depends on what’s best
suited for your own business.

Q2

What Is eCash?

eCash was a digital-based system that facilitated the transfer of funds

anonymously. A pioneer in cryptocurrency, its goal was to secure the privacy of
individuals that use the Internet for micropayments. eCash was created by Dr.
David Chaum under his company, DigiCash, in 1990. Though there was interest
in the platform from large banks, eCash never took off and DigiCash filed for
bankruptcy in 1998. DigiCash, along with its eCash patents, was eventually sold
off. In 2018, Chaum launched a new startup focused on cryptography.

What is an eCheck?
An eCheck is an electronic version of a paper check that provides different
payment processing times and less waste. With an eCheck, money is
electronically transferred from the payers' checking account and directly
deposited to the sellers account, after passing through the ACH network.
Using the information found on a paper check, electronic check processing also
means that you can convert a paper check received from a customer into an
electronic transfer.
Electronic checks combine the security, speed, and processing efficiency of all
electronic transactions with the infrastructure and processes associated with
paper checks. Echecks are a faster and less-expensive way to get your money.
An eCheck can also be called an electronic check, direct debit, ACH payment, or
ACH transfer
It is the means by which you can take the information contained on a paper check
and process the payment electronically using the ACH network

Q3

1.Economic Factor
The most important and first on this list is the Economic Factor. This one is the
main foundation of any purchasing decision. The reason is simple people can’t
buy what they can’t afford. The need of a product also doesn’t play a role here,
but the most important thing is affordability.

2. Functional Factor

The factor is totally about needs, backed by a logic that what makes sense and
also fits in the best interest of the customer. This one factor also plays a very
important role in the buying decision.

3. Marketing Mix Factors

There are 4 components in the marketing mix, i.e. product, pricing, promotion
and place of distribution and each of these components have a direct or indirect
impact on the buying process of the consumers. The consumers consider various
things like the characteristics of the product, price charged, availability of the
product at the required location and much more.

4. Personal Factors
The personal factors include age, occupation, lifestyle, social and economic status
and the gender of the consumer. These factors can individually or collectively
affect the buying decisions of the consumers.

Factors That Influence The Buying Decision, Contact Discovery, Influencing

Customers Buying Decisions, iSN, iSN Global Solutions, Sales Support Services,
Account Profilling

5. Psychological Factor

When it comes to the psychological factors there are 4 important things affecting
the consumer buying behaviour, i.e. perception, motivation, learning, beliefs and
attitudes.

6. Social Factors

Social factors include reference groups, family, and social status. These factors
too affect the buying behaviour of the consumer. These factors in turn reflect an
endless and vigorous inflow through which people learn different values of
consumption.

7. Cultural Factors

Cultural factors have a subtle influence on a consumer’s purchasing decision

process. Since each individual lives in a complex social and cultural environment,
the kinds of products or services they intend to use can be directly or indirectly be
influenced by the overall cultural context in which they live and grow. These
Cultural factors include race and religion, tradition, caste and moral values.

Q4

1. Helps in Determining Return:

The primary motive of all firms is to earn profit. Firms aim at maximising profit.
When the product is manufactured the manufacturer determines the price of the
product. Price includes the return or profits that the manufacturer or marketer
intends to earn. Price is fixed by the marketer by adding a certain percentage of
profit on cost.

2. Determines Demand, Sales Volume and Market Share:

Price is the most flexible tool in the marketing mix. A marketer can regulate the
demand for a product by increasing or decreasing the price. Price is an important
factor influencing consumer buying behaviour. Most of the time consumer put
importance on price of the product rather than on value, at the time of purchase.
Thus a change in price influences the demand, sales volume and market share.

3. Countering Competition:

Companies regularly revise their pricing strategies to counter the competition. A

market leader who dominates the market designs the pricing strategy to prevent
new competitors entering into the market. While a price follower sets their price
in accordance to the competitor’s price and market leader’s price. A marketer’s
pricing strategy mostly depends upon competitor’s pricing policy.

4. Builds Product Image:

Price often builds an image of the product. Consumers often believe that high
priced products are of high value and benefit than low priced product. Marketers
also use price to position their products superior in the minds of the consumer.

5. A Tool of Sales Promotion:

Price is an important tool of sales promotion. Companies often resort to short

term price reduction like offering discounts to increase sales during a short time
period.

Q5

Data mining is the process of discovering patterns in large data sets involving
methods at the intersection of machine learning, statistics, and database
systems.[1] Data mining is an interdisciplinary subfield of computer
science and statistics with an overall goal to extract information (with intelligent
methods) from a data set and transform the information into a comprehensible
structure for further use.[1][2][3][4] Data mining is the analysis step of the
"knowledge discovery in databases" process or KDD.[5] Aside from the raw
analysis step, it also involves database and data management aspects, data pre-
processing, model and inference considerations, interestingness
metrics, complexity considerations, post-processing of discovered
structures, visualization, and online updating.[1]
The term "data mining" is a misnomer, because the goal is the extraction of
patterns and knowledge from large amounts of data, not the extraction (mining)
of data itself.[6] It also is a buzzword[7] and is frequently applied to any form of
large-scale data or information processing (collection, extraction, warehousing,
analysis, and statistics) as well as any application of computer decision support
system, including artificial intelligence (e.g., machine learning) and business
intelligence. The book Data mining: Practical machine learning tools and
techniques with Java[8] (which covers mostly machine learning material) was
originally to be named just Practical machine learning, and the term data
mining was only added for marketing reasons.[9] Often the more general terms
(large scale) data analysis and analytics – or, when referring to actual
methods, artificial intelligence and machine learning – are more appropriate.

In computing, a data warehouse (DW or DWH), also known as an enterprise

data warehouse (EDW), is a system used for reporting and data analysis, and is
considered a core component of business intelligence.[1] DWs are central
repositories of integrated data from one or more disparate sources. They store
current and historical data in one single place[2] that are used for creating
analytical reports for workers throughout the enterprise.[3]
The data stored in the warehouse is uploaded from the operational systems (such
as marketing or sales). The data may pass through an operational data store and
may require data cleansing[2] for additional operations to ensure data
quality before it is used in the DW for reporting.