Multi Level Marketing – Network Marketing
(MLM)
At present, most people must have heard about Multi Level Marketing or Network Marketing. Everywhere, there is discussion on Multi Level Marketing. This is a different type of marketing concept. Many companies around the world have been adopting this module for a long time. In such a situation, we must have some information about Multi Level Marketing. This will enable us to connect with it and will also be able to take advantage of it. So, let me share some interesting facts or information related to network marketing.
What is Network Marketing?
Multi Level Marketing is a business model in which people join as a Pyramid Structure Network and sell the company’s product. Every member of this network is an Independent Sales Representative. People who join this network get commission on selling the product. Apart from this, we also get commission for selling a product through a new member added to their network.
In this business model, every partner act as an IBO (Independent Business Owner). Each member promotes his or her own business. Through network marketing, the product is delivered directly to the consumer, i’e., Direct Sell is done. Network Marketing is also termed as Multi Level Marketing (MLM). Apart from this, there are many other names of network marketing like Cellular Marketing, Affiliate Marketing, Consumer Direct Marketing, Referral Marketing, Home Based Business Franchising etc. Companies like Amway and Modicare use this network marketing to sell their products.
Working Principle of Network Marketing
Knowing what Multi Level Marketing is, let us try to understand it with an example. Generally marketing is related to Sale of the product of a company. Accordingly, we will get the corresponding payment or commission. Network marketing is something different from general marketing. Suppose we are associated with a company and sold our product to one of my friend. By doing this, we get commission from the company. Again, if my friend also sells the product of the same company to another one, then he or she will also get his commission and we will also get some part of commission. This is the specialty of Network Marketing. All about Network Marketing is that all the people in our network will sell the product and accordingly, we will get commission. In this way Pyramid grows as all members continue to sell the company’s products and incorporate them into their pyramids.
BENEFITS OF NETWORK MARKETING
After understanding Multi Level Marketing, let us have a brief discussion about the benefits of this marketing model. The organization following the business model of Network Marketing does marketing and selling its products directly to the consumer. For this, we don’t need to depend on any distribution channel. Rather, non-employed participants have the responsibilities who get commission every time they make a sale. We do not have to invest a lot of money to work by connecting with this network. There is unlimited scope in Network Marketing. In this type of model, the participants being a consumer themselves also get attractive discounts and offers.
In this model, there is no need to advertise as much as other business models. Marketing with person to person is more effective than advertising. The Pyramid network of this marketing model becomes very large. With that, the commission of every participant also increases. In this, no salary is given to the participants but the more they perform, the more is their commission.
How to avoid fraud in the name of the Network Marketing Company?
Knowing so many benefits of network marketing, it should not be considered a good model. The other aspects of Multi Level Marketing should also be looked into. Many times, some company also comes in the market which attracts people by showing Fraud Plan to the people. After that, they take away their money and run away. In such a situation, there is a great need to be cautious with such a company. Also it is necessary to check them before joining any company.
Before joining any network marketing company, we should know the answers to some questions-
1) What is the principle of the company?
2) What is the track record of the founder of the company?
3) How is the pattern of training in the company?
4) Do we consider the company’s products beneficial?
5) Do you find the quality and price of the product reasonable?
4) Are our relatives, friends interested in buying and using the product?
4) Are the company’s products promotes effectively?
Adoption of Right Strategy and Hard Work attitude in Network Marketing
The answers to all such questions will tell us in large extent whether the company is fake or not. Only then we will be able to earn good commission by joining company network. Nowadays, it is a time of competition and the desire to get more, people often make mistakes. We have to do all the investigation of who is real or not. It would be better not to get belief directly on anyone’s talk, take enough time from our side and do all the analysis and then to move forward. Our hard earning money and valuable time should not go in waste in the name of fraud Network Company. We should do research with time and then to move forward and connect other people with us.
This is all about Network Marketing which is a brief description of how to earn profit by connecting with it, and what needs to be done to be careful about. Along with this, it must also be remembered that whether we are in job or earn through network marketing, we have to work hard because it cannot be earned without hard work. It is true that by connecting with Network Marketing, we can earn profitably in the long run. It is possible only if we adopt right strategy and work hard in the right direction.
With good intelligence and understanding, one can adopt Network Marketing once in our life.
ALL THE BEST
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