we have all heard and read about leadership skills. i am going to be comperhensive and will tell you about the traits of leadersip by Jack Welch .
"The 4 E's of Leadership"
1)Energy - Individuals with energy love to "go, go, go." These people possess boundless energy and get up every day ready to attack the job at hand. High energy people move at 95 miles-per-hour in a 55 mile-per-hour world.
2)Energizers - know how to spark others to perform. They outline a vision and get people to carry it out. Energizers know how to get people excited about a cause or a crusade. They are selfless in giving others the credit when things go right, but quick to accept responsibility when things go awry.
3)Edge - Those with edge are competitive types. They know how to make the really difficult decisions, such as hiring, firing and promoting, never allowing the degree of difficulty to stand in their way.
4)Execute - The key to the entire model. Without measurable results, the other "E's" are of little use. Executers recognize that activity and productivity are not the same and are capable of converting energy and edge into action and results.
These are the 4E's of leadership...i hope by the end of our BSC we will all be excellant leaders.Inshallah.
Saturday, October 17, 2009
Thursday, February 12, 2009
ADVERTISMENT
First of all its important to know that what is advertising? according to wikipedia the word Advertising mean "Advertising is a form of communication that typically attempts to persuade potential customers to purchase or to consume more of a particular brand of product or service"
Today, we see many advertisings are being made of a single product. And the only purpose is to persude the cutomer and to catch their atttention. Today many means are being used for advertising purpose. so types of advertising are as follows:
1. Media advertising: Commercial advertising media can include wall paintings, billboards, street furniture components, printed flyers and rack cards, radio, cinema and television adverts, web banners, mobile telephone screens, shopping carts, web popups, skywriting, bus stop benches, human billboards, magazines, newspapers, town criers, sides of buses
2. Covert advertising: Covert advertising is when a product or brand is embedded in entertainment and media. For example, in a film, the main character can use an item or other of a definite brand. Tom Cruise's character John Anderton owns a phone with the Nokia logo clearly written in the top corner.
3. Television commercials: The TV commercial is generally considered the most effective mass-market advertising format, as is reflected by the high prices TV networks charge for commercial airtime during popular TV events.
4. Infomercials: Infomercials are also known as direct response television (DRTV) commercials or direct response marketing. The main objective in an infomercial is to create an impulse purchase, so that the consumer sees the presentation and then immediately buys the product through the advertised toll-free telephone number or website.
5. Celebrity advertising: This type of advertising focuses upon using celebrity power, fame, money, popularity to gain recognition for their products and promote specific stores or products.
So these are some of the means of advertisments being used today. Most of the products are not as much useful but because of their good advertisment those products are been successful.
Today, we see many advertisings are being made of a single product. And the only purpose is to persude the cutomer and to catch their atttention. Today many means are being used for advertising purpose. so types of advertising are as follows:
1. Media advertising: Commercial advertising media can include wall paintings, billboards, street furniture components, printed flyers and rack cards, radio, cinema and television adverts, web banners, mobile telephone screens, shopping carts, web popups, skywriting, bus stop benches, human billboards, magazines, newspapers, town criers, sides of buses
2. Covert advertising: Covert advertising is when a product or brand is embedded in entertainment and media. For example, in a film, the main character can use an item or other of a definite brand. Tom Cruise's character John Anderton owns a phone with the Nokia logo clearly written in the top corner.
3. Television commercials: The TV commercial is generally considered the most effective mass-market advertising format, as is reflected by the high prices TV networks charge for commercial airtime during popular TV events.
4. Infomercials: Infomercials are also known as direct response television (DRTV) commercials or direct response marketing. The main objective in an infomercial is to create an impulse purchase, so that the consumer sees the presentation and then immediately buys the product through the advertised toll-free telephone number or website.
5. Celebrity advertising: This type of advertising focuses upon using celebrity power, fame, money, popularity to gain recognition for their products and promote specific stores or products.
So these are some of the means of advertisments being used today. Most of the products are not as much useful but because of their good advertisment those products are been successful.
Tuesday, February 10, 2009
Click-and-mortar business
Click-and-mortar business refers to a company with actual facilities where customers can purchase products or services but that also has an e-commerce store where customers can make purchases online. It is essential that e-commerce stores have an attractive graphic design and an organized website navigation system. These factors and many others are necessary to make the online shopping experience pleasant and hassle-free while simultaneously building the trust that ensures a customer feels confident and secure when providing credit numbers or other banking information
Friday, February 6, 2009
Games that will prepare you for standardized testing
The second semester of each school year often brings together students nationwide in a common foreboding: the knowledge that standardized tests will soon be upon them. For elementary and middle school students, this usually means some type of basic reading and math assessment, and possibly science and social studies assessments, as well. For high school students, this can include a high school graduation exam or for those hoping to further their education, the SAT test.
Just in time for the testing season, Vocabulary.co.il has rolled out two more great vocabulary games at the website. Match It is a test-prep styled game that has you match vocabulary words with the sentence that best fits with the word. This is the type of vocabulary challenge that almost every student confronts on standardized tests. In most state and nationally normed tests, students are asked to match a list of vocabulary words with possible corresponding sentences. Match It mirrors that format, and allows students to choose word lists based on difficulty level, and whether they want alphabetical or random choices.
Just in time for the testing season, Vocabulary.co.il has rolled out two more great vocabulary games at the website. Match It is a test-prep styled game that has you match vocabulary words with the sentence that best fits with the word. This is the type of vocabulary challenge that almost every student confronts on standardized tests. In most state and nationally normed tests, students are asked to match a list of vocabulary words with possible corresponding sentences. Match It mirrors that format, and allows students to choose word lists based on difficulty level, and whether they want alphabetical or random choices.
Truth
"We must not cease from exploration & the end of all our exploring will be to arrive where we began & to know the place for the first time".
by T.S. Eliot
I first read this in the introductory pages of Stephen R. Covey's book The 7 Habits of Highly Effective People. Reading this part of I guess for the fourth time(because it is included in my final exam of marketing) I have just had a clear vision of what this observation means.
by T.S. Eliot
I first read this in the introductory pages of Stephen R. Covey's book The 7 Habits of Highly Effective People. Reading this part of I guess for the fourth time(because it is included in my final exam of marketing) I have just had a clear vision of what this observation means.
Thursday, February 5, 2009
Use Test Taking Strategy to Gain highest Scores in Final
I have read an article named "Test Taking Strategy" which I have found very useful for our Final exam coming in near future. It focuses on the three types of idol behaviors those are Before Test, During Test and After Test strategies.
So, I want to share this useful instructions with my all class fellows.
Test Taking Strategies
Before:
- Take a practice test the day before with conditions as much like the test as possible.
- Review your summary sheets for an overall view of the material. Recite in your own words
- Get enough sleep. Avoid caffeine which increases anxiety.
- Remember to encourage yourself and STOP critical statements.
- Give yourself time to feel composed and to be on time for the exam. Avoid anxious classmates who are talking about the exam.
During:
- Look over the entire test, READ THE DIRECTIONS, plan your approach, and schedule your time.
- Start with the easiest question first.
- Focus your attention on the test. Don't waste time and energy worrying, thinking about the consequences of not doing well, or wondering what others are doing.
- If you don't know an answer, mark the question.
- Suggest to yourself that you probably studied it and the answer will come to you when you get back to it.
- If you start to feel anxious, practice your relaxation techniques. Use anxiety as a cue to relax. Close your eyes, take three deep breaths and then back to the task.
Essay Exams. Organize your thoughts in a brief outline. Look for key words such as compare, contrast, describe, identify. Start with a short summary or topical sentence and then make your points. Don't ramble. Remember what the professor emphasized.
Objective Exams. Think of your own answer before looking at the choices provided. Eliminate clearly wrong answers and make an educated guess (unless there is a severe penalty for wrong answers). After you have answered those you know, return to those you checked. Think about only one question at a time. After you have answered those you know, return to those you checked.
- If your time is running out, concentrate on those questions you know well and/or have the most weight.
- Use all the time allowed for reviewing your answers, completing ideas. Only change answers if you are sure of yourself.
After:
- Reward yourself for having tried. Don't go over the test questions with others. No matter how the test went, you can learn from the returned exam.
Final Thoughts
- List the resources which are available: free tutors, Reading and Writing Center, etc.
- List at least three specific steps which you can take now to meet your goals. (Check those suggestions you plan to follow).
Google launches ‘Latitude’
Those using the Latitude tool will be able to see exactly where their contacts are on a detailed map, using their own phone or computer, and then watch as they move along streets.
However, the launch has raised concerns about security.
It is expected that the feature, called Latitude, will prove popular with parents who want to keep tabs on the whereabouts of their children without having to call them, and with groups of friends trying to meet in busy city centers or at musical festivals.
Latitude plots the position of mobile users by finding out which phone masts or wireless Internet hot spots they are close to. This technique, known as triangulation, has long been possible and is used in court cases to place a defendant at the scene of a crime.
The service can even provide directions to help mobile users navigate their way through the streets to meet their friends.
Wednesday, February 4, 2009
Stock Exchange
A stock exchange, securities exchange or (in Europe) bourse is a corporation or mutual organization which provides "trading" facilities for stock brokers and traders, to trade stocks and other securities. Stock exchanges also provide facilities for the issue and redemption of securities as well as other financial instruments and capital events including the payment of income and dividends. The securities traded on a stock exchange include: shares issued by companies, unit trusts and other pooled investment products and bonds. To be able to trade a security on a certain stock exchange, it has to be listed there. Usually there is a central location at least for recordkeeping, but trade is less and less linked to such a physical place, as modern markets are electronic networks, which gives them advantages of speed and cost of transactions. Trade on an exchange is by members only. The initial offering of stocks and bonds to investors is by definition done in the primary market and subsequent trading is done in the secondary market. A stock exchange is often the most important component of a stock market. Supply and demand in stock markets is driven by various factors which, as in all free markets, affect the price of stocks (see stock valuation).
There is usually no compulsion to issue stock via the stock exchange itself, nor must stock be subsequently traded on the exchange. Such trading is said to be off exchange or over-the-counter. This is the usual way that bonds are traded. Increasingly, stock exchanges are part of a global market for securities.
The role of stock exchanges
Raising capital for businesses
The Stock Exchange provide companies with the facility to raise capital for expansion through selling shares to the investing public.
Mobilizing savings for investment
When people draw their savings and invest in shares, it leads to a more rational allocation of resources because funds, which could have been consumed, or kept in idle deposits with banks, are mobilized and redirected to promote business activity with benefits for several economic sectors such as agriculture, commerce and industry, resulting in stronger economic growth and higher productivity levels and firms.
Facilitating company growth
Companies view acquisitions as an opportunity to expand product lines, increase distribution channels, hedge against volatility, increase its market share, or acquire other necessary business assets. A takeover bid or a merger agreement through the stock market is one of the simplest and most common ways for a company to grow by acquisition or fusion.
Redistribution of wealth
Stocks exchanges do not exist to redistribute wealth. However, both casual and professional stock investors, through dividends and stock price increases that may result in capital gains, will share in the wealth of profitable businesses.
Creating investment opportunities for small investors
As opposed to other businesses that require huge capital outlay, investing in shares is open to both the large and small stock investors because a person buys the number of shares they can afford. Therefore the Stock Exchange provides the opportunity for small investors to own shares of the same companies as large investors.
Government capital-raising for development projects
Governments at various levels may decide to borrow money in order to finance infrastructure projects such as sewage and water treatment works or housing estates by selling another category of securities known as bonds. These bonds can be raised through the Stock Exchange whereby members of the public buy them, thus loaning money to the government. The issuance of such bonds can obviate the need to directly tax the citizens in order to finance development, although by securing such bonds with the full faith and credit of the government instead of with collateral, the result is that the government must tax the citizens or otherwise raise additional funds to make any regular coupon payments and refund the principal when the bonds mature.
Barometer of the economy
At the stock exchange, share prices rise and fall depending, largely, on market forces. Share prices tend to rise or remain stable when companies and the economy in general show signs of stability and growth. An economic recession, depression, or financial crisis could eventually lead to a stock market crash. Therefore the movement of share prices and in general of the stock indexes can be an indicator of the general trend in the economy.
There is usually no compulsion to issue stock via the stock exchange itself, nor must stock be subsequently traded on the exchange. Such trading is said to be off exchange or over-the-counter. This is the usual way that bonds are traded. Increasingly, stock exchanges are part of a global market for securities.
The role of stock exchanges
Raising capital for businesses
The Stock Exchange provide companies with the facility to raise capital for expansion through selling shares to the investing public.
Mobilizing savings for investment
When people draw their savings and invest in shares, it leads to a more rational allocation of resources because funds, which could have been consumed, or kept in idle deposits with banks, are mobilized and redirected to promote business activity with benefits for several economic sectors such as agriculture, commerce and industry, resulting in stronger economic growth and higher productivity levels and firms.
Facilitating company growth
Companies view acquisitions as an opportunity to expand product lines, increase distribution channels, hedge against volatility, increase its market share, or acquire other necessary business assets. A takeover bid or a merger agreement through the stock market is one of the simplest and most common ways for a company to grow by acquisition or fusion.
Redistribution of wealth
Stocks exchanges do not exist to redistribute wealth. However, both casual and professional stock investors, through dividends and stock price increases that may result in capital gains, will share in the wealth of profitable businesses.
Creating investment opportunities for small investors
As opposed to other businesses that require huge capital outlay, investing in shares is open to both the large and small stock investors because a person buys the number of shares they can afford. Therefore the Stock Exchange provides the opportunity for small investors to own shares of the same companies as large investors.
Government capital-raising for development projects
Governments at various levels may decide to borrow money in order to finance infrastructure projects such as sewage and water treatment works or housing estates by selling another category of securities known as bonds. These bonds can be raised through the Stock Exchange whereby members of the public buy them, thus loaning money to the government. The issuance of such bonds can obviate the need to directly tax the citizens in order to finance development, although by securing such bonds with the full faith and credit of the government instead of with collateral, the result is that the government must tax the citizens or otherwise raise additional funds to make any regular coupon payments and refund the principal when the bonds mature.
Barometer of the economy
At the stock exchange, share prices rise and fall depending, largely, on market forces. Share prices tend to rise or remain stable when companies and the economy in general show signs of stability and growth. An economic recession, depression, or financial crisis could eventually lead to a stock market crash. Therefore the movement of share prices and in general of the stock indexes can be an indicator of the general trend in the economy.
STRATEGIC PRICING OF NEW PRODUCTS.
skimming pricing:
one strategy is called skimming pricing,in which the initial product price is set high,and short-term profit are reaped on the new product.the initial market will be small,due in part to the high initial price.this pricing approach often is used for unique products,where there are people who "must have it"whatever the price.as the product gains acceptance and its appeal broadens,the price is lowered gradually.eventually the product is pricing is priced in a range that appeals to several kinds of buyers.
penetration pricing:
An alternative initial pricing strategy is called penetration pricing,in which the initial price is set relatively low.by setting a low price for a new product,management hopes to penetrate a new market deeply,quickly gaining a large market share.this pricing approach often is used for products that are of goods quality,but do not stand out as vastly better than competing products.
one strategy is called skimming pricing,in which the initial product price is set high,and short-term profit are reaped on the new product.the initial market will be small,due in part to the high initial price.this pricing approach often is used for unique products,where there are people who "must have it"whatever the price.as the product gains acceptance and its appeal broadens,the price is lowered gradually.eventually the product is pricing is priced in a range that appeals to several kinds of buyers.
penetration pricing:
An alternative initial pricing strategy is called penetration pricing,in which the initial price is set relatively low.by setting a low price for a new product,management hopes to penetrate a new market deeply,quickly gaining a large market share.this pricing approach often is used for products that are of goods quality,but do not stand out as vastly better than competing products.
TYPES OF PRICING.
cost-plus pricing:
such a pricing approach often is called cost-plus pricing,because the price is equal to cost plus a markup.depending on how cost is defined,the markup percentage may differ.
Reture-on-investment pricing:
A common approach to determining the profit margin in cost-plus pricing is to base profit on the firm's target return on investment (ROI).
such a pricing approach often is called cost-plus pricing,because the price is equal to cost plus a markup.depending on how cost is defined,the markup percentage may differ.
Reture-on-investment pricing:
A common approach to determining the profit margin in cost-plus pricing is to base profit on the firm's target return on investment (ROI).
Tuesday, February 3, 2009
Making Money Online
Online Article by: Susan Ward
Interested in starting an online business? A successful online business can truly be a dream come true, giving you both an income and the ability to work at home.
But like any other business, starting an online business that will be successful takes planning and effort. The very first step, even before you write your business plan, is to figure out how you're going to make money online. Obviously, you're going to sell products or services, whether they be stuffed toys or nutritional information. But what online business model are you going to use to entice customers to buy what you're selling?
Here are seven different online business models for you to choose from so you can get started making money online.
But like any other business, starting an online business that will be successful takes planning and effort. The very first step, even before you write your business plan, is to figure out how you're going to make money online. Obviously, you're going to sell products or services, whether they be stuffed toys or nutritional information. But what online business model are you going to use to entice customers to buy what you're selling?
Here are seven different online business models for you to choose from so you can get started making money online.
1) Ecommerce Site
The classic ecommerce site, designed to make money online by selling products, has both an online catalogue and a shopping cart. You can set up your own online store from scratch or choose one of the many complete online store solutions to start an online business.
The great advantage of using a "prefab" online store to make money online is that hosting, Internet merchant accounts and the ability to accept payments online is often included in your online store package.
Tricks to Success: multiple payment options, attractive, easy-to-use catalogue
2) Sales Letter Ecommerce Website
Like the infomercials on TV, these websites make the pitch, focusing on educating potential customers on the benefits of the products or services being sold. Unlike television infomercials, this type of online business model is long on copy and short on pictures.
As a website visitor, you can often recognize this way to make money online at a glance; the copy often begins with a question directed at the potential customer (such as "Would you like to increase your sales by fifty percent?"), and involves a lot of scrolling as benefit after benefit is revealed, usually backed by testimonials from satisfied customers. Time-limited and special Tricks to Success: sincerity, well crafted copy
3) eBay Auction Model
This is a variation of the first online business model. But instead of using an ecommerce site to make money online, you use someone else's. Although eBay Stores are available, you don't actually need one to sell products through eBay - you can sell online by using eBay's auction system.
The eBay auction model is especially attractive to people just starting an online business. People who want to make money online often use the eBay auction system as a cheap and easy way to get started and test demand for the products they want to sell. Then, if things go well, they move on to an online store through eBay or some other provider, or develop one themselves.
Tricks to Success: well crafted copy, good product photos, excellent feedback
Tricks to Success: well crafted copy, good product photos, excellent feedback
4) Stand-Alone Blog
Blogs are popping up all over the 'Net like mushrooms on a damp forest floor. The beauty of blogs is that anyone can self-publish their work online easily and cheaply. While many blogs exist just to get a person's thoughts and ideas out there, others are attempts to make money online.
The standard online business model for blogging is to run ads on the blog pages. Google AdSense, for instance, is a popular choice. There are, however, other ways to make money online through a blog.
Tricks to Success: having an engaging voice, being part of the blog community
5) Service Business Website
The typical service business website, properly done, combines a portfolio with persuasive copy. To make money online, a good service business website has to answer the question "Why should you hire this person to do that?"
Often, what's being sold is the talents and skills of an individual, but these are difficult to show online so the mainstays of service business websites are biographies and testimonials. (Photo) samples of a person's work may be included if possible. If you're starting an online business of this type, soliciting testimonials from satisfied customers as a first step.
It's become almost standard for those seeking to sell their services online to offer prospective customers free content, such as a newsletter, email tips or ebook. These are, of course, great ways to get to collect customer data and stay in touch.
Some service business websites also sell products, typically the books and/or tapes of the individual involved, but sometimes other things.
Tricks to Success: powerful testimonials, personalization and professionalism
5) Service Business Website
The typical service business website, properly done, combines a portfolio with persuasive copy. To make money online, a good service business website has to answer the question "Why should you hire this person to do that?"
Often, what's being sold is the talents and skills of an individual, but these are difficult to show online so the mainstays of service business websites are biographies and testimonials. (Photo) samples of a person's work may be included if possible. If you're starting an online business of this type, soliciting testimonials from satisfied customers as a first step.
It's become almost standard for those seeking to sell their services online to offer prospective customers free content, such as a newsletter, email tips or ebook. These are, of course, great ways to get to collect customer data and stay in touch.
Some service business websites also sell products, typically the books and/or tapes of the individual involved, but sometimes other things.
Tricks to Success: powerful testimonials, personalization and professionalism
6) Info-Site
It is a website that focuses on presenting information, often on a specific topic.
Info-sites are predicated on the theory that enough people will be interested in the information to seek it out, visit the website and support it by clicking on or buying something.
While some info-sites make money online by selling their content, through subscription or syndication, others make money through advertising and/or affiliate programs. Some info-sites also include an ecommerce component, directly selling products related to the information the site provides. A gardening info-site, for example, may also sell gardening tools.
If the info-site business model interests you as a way to make money online, don't be discouraged by the size of some of the sites that I've used as examples. An info-site doesn't have to be huge to be successful.
Tricks to Success: strong, engaging content
While some info-sites make money online by selling their content, through subscription or syndication, others make money through advertising and/or affiliate programs. Some info-sites also include an ecommerce component, directly selling products related to the information the site provides. A gardening info-site, for example, may also sell gardening tools.
If the info-site business model interests you as a way to make money online, don't be discouraged by the size of some of the sites that I've used as examples. An info-site doesn't have to be huge to be successful.
Tricks to Success: strong, engaging content
7) Brochure Site
The brochure site is basically an online business card. It presents the name of the business, some information about the products or services the business provides and contact information. People interested in learning more are asked to call, visit and/or sometimes to fill out an online form.
The brochure site is the online business model least likely to make money online in and of itself. Such a site is best suited as an adjunct to a business with a strong offline presence. Many small businesses use this kind of website as a Internet billboard for their customers, providing yet another way for their customers to get basic information about their business such as phone numbers or directions to their premises. The website is actually part of the business's customer service rather than a money making venture in itself.
As an online business model, the brochure site does excel as an event registration site. Businesses and government agencies often create separate brochure sites for specific conferences or trade shows.
Tricks to Success: having other sites and/or channels set up to direct traffic to the brochure site
You Don't Need to Stick to Just One Online Business Model
When you're putting your online business plan together, you need to be aware that you don't have to stick to just one online business model at a time - and you may make more money online.
Credits:
http://sbinfocanada.about.com/od/onlinebusiness/a/onlinebizmodels_2.htm
HOW TO PREPARE FOR EXAMS
Deal with your anxiety:
Try to determine the source of your test anxiety. If it stems from a lack of preparation on your part, your anxiety is considered a rational response. However, if you believe that you are prepared for the test, but are still panicking or overreacting, this may be an irrational response. Either way, it can be very helpful to know how to work with their effects.
Prepare for those tests and assignments:
This is the best way to minimize anxiety. Here are a few tips for preparing for an exam:
• Avoid cramming for a test. Cramming can produce high levels of anxiety and is not helpful in trying to learn a large amount of material.
• Instead of trying to memorize all of the intricate details from an entire semester’s worth of notes and readings, try combining everything and learning the larger, main concepts first.
• When studying, try to create questions that could possibly be asked on the test. Try integrating ideas from lectures, notes, books and other readings.
• If it is impossible for you to cover all of the material for the test, choose one portion that you know you will be able to cover and present well.
Change your attitude:
It can help to change the way you think about taking tests. A test will not predict your future success or determine your self worth. Changing your attitude can actually help you enjoy studying and learning. Here are some ways you can work on changing your attitude:
• Remind yourself that it is only a test and there will be others.
• Reward yourself when the test is over.
• Think of yourself in a positive way. Think of all the hard work you have done already or think of what you do know.
• Plan ways to improve next semester
Don’t forget the basics:
Don’t forget about yourself and what you need. This means thinking of yourself as a total person, not just as a test taker.
• Maintain proper nutrition and exercise, and continue some of your social or recreational activities. It is ok to take a break once in a while.
• Make sure you get plenty of sleep. You can’t function at your best if you are tired.
• Do something relaxing when you feel adequately prepared.
Again, try to do something relaxing before the test. Cramming minutes before can produce anxiety. Get to the test early. This way, you can pick out your seat away from anxiety-ridden classmates and other distractions. Now, you’re ready to take the test…Good luck!
Try to determine the source of your test anxiety. If it stems from a lack of preparation on your part, your anxiety is considered a rational response. However, if you believe that you are prepared for the test, but are still panicking or overreacting, this may be an irrational response. Either way, it can be very helpful to know how to work with their effects.
Prepare for those tests and assignments:
This is the best way to minimize anxiety. Here are a few tips for preparing for an exam:
• Avoid cramming for a test. Cramming can produce high levels of anxiety and is not helpful in trying to learn a large amount of material.
• Instead of trying to memorize all of the intricate details from an entire semester’s worth of notes and readings, try combining everything and learning the larger, main concepts first.
• When studying, try to create questions that could possibly be asked on the test. Try integrating ideas from lectures, notes, books and other readings.
• If it is impossible for you to cover all of the material for the test, choose one portion that you know you will be able to cover and present well.
Change your attitude:
It can help to change the way you think about taking tests. A test will not predict your future success or determine your self worth. Changing your attitude can actually help you enjoy studying and learning. Here are some ways you can work on changing your attitude:
• Remind yourself that it is only a test and there will be others.
• Reward yourself when the test is over.
• Think of yourself in a positive way. Think of all the hard work you have done already or think of what you do know.
• Plan ways to improve next semester
Don’t forget the basics:
Don’t forget about yourself and what you need. This means thinking of yourself as a total person, not just as a test taker.
• Maintain proper nutrition and exercise, and continue some of your social or recreational activities. It is ok to take a break once in a while.
• Make sure you get plenty of sleep. You can’t function at your best if you are tired.
• Do something relaxing when you feel adequately prepared.
Again, try to do something relaxing before the test. Cramming minutes before can produce anxiety. Get to the test early. This way, you can pick out your seat away from anxiety-ridden classmates and other distractions. Now, you’re ready to take the test…Good luck!
INNOVATION
The term innovation means a new way of doing something. It may refer to incremental, radical, and revolutionary changes in thinking, products, processes, or organizations. A distinction is typically made between Invention, an idea made manifest, and innovation, ideas applied successfully. In many fields, something new must be substantially different to be innovative, not an insignificant change, e.g., in the arts, economics, business and government policy. In economics the change must increase value, customer value, or producer value. The goal of innovation is positive change, to make someone or something better.
Innovation is an important topic in the study of economics, business, technology, sociology, and engineering. The word "innovation" is often synonymous with the output of the process. However, economists tend to focus on the process itself, from the origination of an idea to its transformation into something useful, to its implementation; and on the system within which the process of innovation unfolds. Since innovation is also considered a major driver of the economy, especially when it leads to increasing productivity, the factors that lead to innovation are also considered to be critical to policy makers.
Innovation is an important topic in the study of economics, business, technology, sociology, and engineering. The word "innovation" is often synonymous with the output of the process. However, economists tend to focus on the process itself, from the origination of an idea to its transformation into something useful, to its implementation; and on the system within which the process of innovation unfolds. Since innovation is also considered a major driver of the economy, especially when it leads to increasing productivity, the factors that lead to innovation are also considered to be critical to policy makers.
Individualism & collectivism
Balance
There is a widespread misconception about individualism is that it can somehow be mixed with or tempered by collectivism. In this view, neither ``extreme'' individualism nor ``extreme'' collectivism are correct. Rather, wisdom and truth lie somewhere in the middle.
Individualism and collectivism are contradictory positions---there is no middle ground between them. Collectivism maintains that the group is an entity in its own right, a thing that can act upon people. Individualism denies this. Collectivism sees us being influenced by the group; individualism sees us being influenced by other individuals. Collectivism sees us cooperating with the team; individualism, with other people. Collectivism sees us building on the ideas and achievements of society; individualism, on the ideas and achievements of individuals. These are contradictory positions; it's either-or.
To accept the ``balance'' point of view is to accept collectivism. No collectivist has ever said that every single need of every individual must be frustrated for the sake of the society---if so, there wouldn't be any society left to serve. Collectivism is the balance point of view; it is a matter of fine-tuning here and there, constraining individuals when their interests get out of line with the ``good of society.''
Indeed, the main debate between the ``left'' and the ``right'' today is not a debate over collectivism and individualism---its a debate over two forms of collectivism. The ``left'' holds that the needs of society lie in the materialistic realm, so they are into regulating that aspect of individual affairs. The ``right'' holds that the needs of society lie in the spiritual realm, so they are into regulating the spiritual aspect of individual affairs.
Collectivism is, by its nature, an act of balancing the need of the individual against the need of ``society.'' Individualism denies that society has any needs, so the issue of balance is not relevant to it.
There is a widespread misconception about individualism is that it can somehow be mixed with or tempered by collectivism. In this view, neither ``extreme'' individualism nor ``extreme'' collectivism are correct. Rather, wisdom and truth lie somewhere in the middle.
Individualism and collectivism are contradictory positions---there is no middle ground between them. Collectivism maintains that the group is an entity in its own right, a thing that can act upon people. Individualism denies this. Collectivism sees us being influenced by the group; individualism sees us being influenced by other individuals. Collectivism sees us cooperating with the team; individualism, with other people. Collectivism sees us building on the ideas and achievements of society; individualism, on the ideas and achievements of individuals. These are contradictory positions; it's either-or.
To accept the ``balance'' point of view is to accept collectivism. No collectivist has ever said that every single need of every individual must be frustrated for the sake of the society---if so, there wouldn't be any society left to serve. Collectivism is the balance point of view; it is a matter of fine-tuning here and there, constraining individuals when their interests get out of line with the ``good of society.''
Indeed, the main debate between the ``left'' and the ``right'' today is not a debate over collectivism and individualism---its a debate over two forms of collectivism. The ``left'' holds that the needs of society lie in the materialistic realm, so they are into regulating that aspect of individual affairs. The ``right'' holds that the needs of society lie in the spiritual realm, so they are into regulating the spiritual aspect of individual affairs.
Collectivism is, by its nature, an act of balancing the need of the individual against the need of ``society.'' Individualism denies that society has any needs, so the issue of balance is not relevant to it.
Market Research
Market research is generally either primary or secondary.
In secondary research, the company uses information compiled from other sources that appears applicable to a new or existing product. The advantages of secondary research are that it is relatively cheap and easily accessible.
Disadvantages of secondary research are that it is often not specific to your area of research and the data used can be biased and is difficult to validate. Primary market research involves testing such as focus groups, surveys, field tests, interviews or observation, conducted or tailored specifically to that product. Primary research which is also called field research or original research is useful for finding new information and getting customers views on products.
Advantages are that it provides up to date, relevant and specific information to your product. The disadvantages are that it's expensive to collect, time consuming and needs a large sample size to be accurate.
In secondary research, the company uses information compiled from other sources that appears applicable to a new or existing product. The advantages of secondary research are that it is relatively cheap and easily accessible.
Disadvantages of secondary research are that it is often not specific to your area of research and the data used can be biased and is difficult to validate. Primary market research involves testing such as focus groups, surveys, field tests, interviews or observation, conducted or tailored specifically to that product. Primary research which is also called field research or original research is useful for finding new information and getting customers views on products.
Advantages are that it provides up to date, relevant and specific information to your product. The disadvantages are that it's expensive to collect, time consuming and needs a large sample size to be accurate.
Direct marketing
Direct marketing is a sub-discipline and type of marketing. There are two main definitional characteristics which distinguish it from other types of marketing.
The first is that it attempts to send its messages directly to consumers, without the use of intervening media.
This involves commercial communication (direct mail, e-mail, telemarketing) with consumers or businesses, usually unsolicited.
The second characteristic is that it is focused on driving purchases that can be attributed to a specific "call-to-action."
This aspect of direct marketing involves an emphasis on trackable, measurable positive (but not negative) responses from consumers (known simply as "response" in the industry) regardless of medium.
If the advertisement asks the prospect to take a specific action, for instance call a free phone number or visit a website, then the effort is considered to be direct response advertising.
The first is that it attempts to send its messages directly to consumers, without the use of intervening media.
This involves commercial communication (direct mail, e-mail, telemarketing) with consumers or businesses, usually unsolicited.
The second characteristic is that it is focused on driving purchases that can be attributed to a specific "call-to-action."
This aspect of direct marketing involves an emphasis on trackable, measurable positive (but not negative) responses from consumers (known simply as "response" in the industry) regardless of medium.
If the advertisement asks the prospect to take a specific action, for instance call a free phone number or visit a website, then the effort is considered to be direct response advertising.
Market Segmentation
It means dividing the market in to smaller groups so that effective services can be provided on the basis of needs, characteristics and behaviour.
It includes several steps.
>target marketing: means selecting one of the segment nad working on that.
>differentiate:creating a value for customer by making difference
>positioning:make the product to occupy a desireable place in the minds of customers.segmentation is on following basis:
>geographical(country,city ,region)
>behaviour(price,loyalty)
>Demographic(age,gender,income)
>pyscographic(values and attitudes)
It includes several steps.
>target marketing: means selecting one of the segment nad working on that.
>differentiate:creating a value for customer by making difference
>positioning:make the product to occupy a desireable place in the minds of customers.segmentation is on following basis:
>geographical(country,city ,region)
>behaviour(price,loyalty)
>Demographic(age,gender,income)
>pyscographic(values and attitudes)
market segmentation - demographic segmentation
Demographic segmentation consists of dividing the market into groups based on variables such as age, gender family size, income, occupation, education, religion, race and nationality.
Age:
Consumer needs and wants change with age although they may still wish to consumer the same types of product. So Marketers design, package and promote products differently to meet the wants of different age groups. Good examples include the marketing of toothpaste (contrast the branding of toothpaste for children and adults) and toys (with many age-based segments).
Consumer needs and wants change with age although they may still wish to consumer the same types of product. So Marketers design, package and promote products differently to meet the wants of different age groups. Good examples include the marketing of toothpaste (contrast the branding of toothpaste for children and adults) and toys (with many age-based segments).
Life-cycle stage:
A consumer stage in the life-cycle is an important variable - particularly in markets such as leisure and tourism. For example, contrast the product and promotional approach of Club 18-30 holidays with the slightly more refined and sedate approach adopted by Saga Holidays.
A consumer stage in the life-cycle is an important variable - particularly in markets such as leisure and tourism. For example, contrast the product and promotional approach of Club 18-30 holidays with the slightly more refined and sedate approach adopted by Saga Holidays.
Gender:
Gender segmentation is widely used in consumer marketing. The best examples include clothing, hairdressing, magazines and toiletries and cosmetics.
Income:
Another popular basis for segmentation. Many companies target affluent consumers with luxury goods and convenience services. Good examples include Coutts bank; Moet & Chandon champagne and Elegant Resorts - an up-market travel company. By contrast, many companies focus on marketing products that appeal directly to consumers with relatively low incomes. Examples include Aldi (a discount food retailer), Airtours holidays, and discount clothing
Gender segmentation is widely used in consumer marketing. The best examples include clothing, hairdressing, magazines and toiletries and cosmetics.
Income:
Another popular basis for segmentation. Many companies target affluent consumers with luxury goods and convenience services. Good examples include Coutts bank; Moet & Chandon champagne and Elegant Resorts - an up-market travel company. By contrast, many companies focus on marketing products that appeal directly to consumers with relatively low incomes. Examples include Aldi (a discount food retailer), Airtours holidays, and discount clothing
retailers such as TK Maxx.
Social class:
Many Marketers believe that a consumers "perceived" social class influences their preferences for cars, clothes, home furnishings, leisure activities and other products & services. There is a clear link here with income-based segmentation.
Lifestyle:
Marketers are increasingly interested in the effect of consumer "lifestyles" on demand. Unfortunately, there are many different lifestyle categorisation systems, many of them designed by advertising and marketing agencies as a way of winning new marketing clients and campaigns!
Many Marketers believe that a consumers "perceived" social class influences their preferences for cars, clothes, home furnishings, leisure activities and other products & services. There is a clear link here with income-based segmentation.
Lifestyle:
Marketers are increasingly interested in the effect of consumer "lifestyles" on demand. Unfortunately, there are many different lifestyle categorisation systems, many of them designed by advertising and marketing agencies as a way of winning new marketing clients and campaigns!
integrated marketing communications
A management concept that is designed to make all aspects of marketing communication such as advertising, sales promotion, public relations, and direct marketing work together as a unified force, rather than permitting each to work in isolation.
Integrated Marketing Communications (IMC), according to The American Marketing Association is “a planning process designed to assure that all brand contacts received by a customer or prospect for a product, service, or organization are relevant to that person and consistent over time.” (Marketing Power Dictionary)
Integrated Marketing Communications uses a holistic approach to promote buying and selling in the digital economy. This concept includes online and offline marketing channels. Online marketing channels include any e-marketing campaigns or programs, from search engine optimization (SEO), pay-per-click, affiliate, email, banner to latest web related channels for webinar, blog, RSS, podcast, and Internet TV. Offline marketing channels are traditional print (newspaper, magazine), mail order, public relations, industry relations, billboard, radio, and television. A company develops its integrated marketing communication programme using all the elements of the marketing mix (price, place, product, and promotion).
Integrated Marketing Communications uses a holistic approach to promote buying and selling in the digital economy. This concept includes online and offline marketing channels. Online marketing channels include any e-marketing campaigns or programs, from search engine optimization (SEO), pay-per-click, affiliate, email, banner to latest web related channels for webinar, blog, RSS, podcast, and Internet TV. Offline marketing channels are traditional print (newspaper, magazine), mail order, public relations, industry relations, billboard, radio, and television. A company develops its integrated marketing communication programme using all the elements of the marketing mix (price, place, product, and promotion).
promotion - public relations
“The planned and sustained effort to establish and maintain goodwill and mutual understanding between an organisation and its publics”
What is meant by the term “publics” in the above definition?
A business may have many “publics” with which it needs to maintain good relations and build goodwill. For example, consider the relevant “publics” for a publicly-quoted business engaged in medical research:
What is meant by the term “publics” in the above definition?
A business may have many “publics” with which it needs to maintain good relations and build goodwill. For example, consider the relevant “publics” for a publicly-quoted business engaged in medical research:
• Employees
• Shareholders
• Trade unions
• Members of the “general public”
• Customers (past and present)
• Pressure groups
• The medical profession
• Charities funding medical research
• Professional research bodies and policy-forming organisations
• The media
• Government and politicians
Monday, February 2, 2009
supply chain
A supply chain or logistics network is the system of organizations, people, technology, activities, information and resources involved in moving a product or service from customer to suppliers. Supply chain activities transform natural resources, rawmaterials and components into a finished product that is delivered to the end customer. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable.
Selling Redefined
Selling is the art of closing the deal.
This definition of selling encapsulates the heart of the matter, because selling is first and foremost a transaction between the seller and the prospective buyer or buyers.
If you're interested in improving your selling skills, you'll find that there are supposedly many kinds of selling that you should use or should avoid, such as high-pressure selling, persuasive selling, no-pressure selling, targeted selling, etc., but all of them amount to the same thing in the end; selling is the art of persuading the consumer that buying the product or service will benefit him or her.
Whatever product or service you're selling, then, you need to focus your selling efforts on communicating the benefits of your product or service to the consumer. The benefits may be tangible or intangible, but unless the individual consumer is convinced that he or she will personally experience the benefits, your product or service won't sell.
Think about it. Why do women smear color on their eyelids? Did anyone in the entire world ever actually need a hula hoop? That's the art of selling.
Credits
http://sbinfocanada.about.com/od/marketing/g/selling.htm
http://sbinfocanada.about.com/od/marketing/g/selling.htm
Top 5 Reasons Customers Don't Buy From You
Are you spending time marketing your product, but still not selling as much as you would like? The truth is consumers have needs and steps that they go through that persuades them to buy. If your marketing is not meeting those requirements it is probably the reasons your product is not selling. As consumers we are not just persuaded by the "price" of a product, we are moved by the benefits of the product and what it can do for us; that's our reason for purchasing.
If you are finding that you are having difficulty in selling your product you may want to consider the following reasons why consumers don't buy and evaluate how you can do better at marketing your products in a way that converts consumers into your customers.
If you are finding that you are having difficulty in selling your product you may want to consider the following reasons why consumers don't buy and evaluate how you can do better at marketing your products in a way that converts consumers into your customers.
1. They are not aware of your product.Consumers cannot purchase products they are not aware of. If you are marketing, but consumers still don't know about your product it may be time to evaluate why it's not working. Are you targeting the right market with your message? Is your message reaching those that would have an interest in your product? It's important to remember that the solution is not always more marketing, because the problem may lie with where you are marketing at, and what marketing vehicles you are using.
2. They don't understand the benefits of your product.Consumers don't buy products solely based on price. Now, this does not mean that they don't factor in price, they do. Consumers buy based on the benefits your product brings them. If you asked your customers what the benefits of your product are, would they know? This is important. Your marketing must be centered on the benefits for your product in order for consumers to take an interest in purchasing your product. Create a list of the top three benefits of your product and use those in your marketing message.
3. They don't feel your product has perceived value.Consumers will not buy products that they perceive as having no value. Why should customers value your product? You can use the benefits of your product to create a perceived value and it is that perceived value that helps in the sales of your product. If a customer cannot see value they will simply pass your product by. You must create that perceived value in your marketing message.
4. They don't see how your product meets their needs.We've talked about benefits and perceived value, now let's talk about needs. Do consumers know how your product meets their needs? Does it make their life easier, save them time, make them feel better? What need does your product satisfy? You have to tell consumers that, don't make them guess or come up with the answer on their own tell them and help educate them on why they need your product.
5. Your product is not accessible to them.Consumers cannot buy what is not available to them. If they hear about your product but it is not accessible, forget it. Consumers want ease in obtaining and using your product. How can you make your product more accessible to them? Is it putting it in different locations? Distributing your product different? Perhaps it's offering your product online. Evaluate the accessibility of your product and see if you need to make changes.
Credits
Article by: Laura Lake
market segmentation & market targeting
Let's say that your primary market is local or regional, and that you live in a community with a population of 25,000 people. The first thing you'll need to do is research the 'demographics' of your community, and divide it into market segments:
Age: children, teens, young, middle, elderly
Gender: male, female
Education: high school, college, university
Income: low, medium, high
Marital status: single, married, divorced
Ethnic and/or religious background
Family life cycle: newly married, married for 10 – 20 years, with or without children.
This information should be available to you through your local town , hall, library, or Chamber of Commerce – and the more detail you can get, the better.
Next, you need to segment the market as much as possible using 'psychographics' as your guide:
Lifestyle: conservative, exciting, trendy, economical
Social class: lower, middle, upper
Opinion: easily led or opinionated
Activities and interests: sports, physical fitness, shopping, books
Attitudes and beliefs: environmentalist, security conscious.
*Note: if you are a B2B company, you'll also need to consider the types of industries available to you, and their number of employees, annual sales volume, location, and company stability. In addition, you might want to find out how they purchase: seasonally, locally, only in volume, who makes the decisions? It is important to note that businesses, unlike individuals, buy products or services for three reasons only: to increase revenue, to maintain the status quo, or to decrease expenses. If you fill one or more of these corporate needs, you may have found a target market.
By now you should have a picture emerging of who you think your 'ideal' customer is … or who you want it to be. Depending on the nature of your business, you might even be able to write a description of your customer. "My target customer is a middle-class woman in her 30s or 40s who is married and has children, and is environmentally conscious and physically fit." Based on the numbers you uncovered in your research, above, you may even know, for example, that there are approximately 9000 of those potential customers in your area! It may well be that 3000 of them are already loyal to a competitor, but that still leaves 6000 who are not, or who have not yet purchased the product from anyone. Do the research!
Lots of times prospective customers don't know about your company, or can't tell the difference between your company and others. It is your job, once you know who your best customers are, to 'target' the group that you've identified – even if you have competition.
In addition, you may decide, using the example above, that you'd also like to extend your target market to include women from 50 – 60 years of age. If you go back to the basic reasons why people purchase goods or services, and can find ways to target your efforts to that age group, you may be successful in capturing a bigger share of the market!
On the other hand, what if you 'specialized' your product or service and then researched your target market, only to discover that there are probably less than 75 people who will buy from you?
First of all, if those 75 are corporate customers who will spend hundreds on your product or service annually, then you have nothing to fear. But if those 75 are only going to spend $10 every decade on your product or service – then you need to go 'back to the drawing board' of planning your business and perhaps determining a wider target market – but at least you are armed with all the information you need to start again, or go in a different direction.
Let's face it – there's a market, and a target market, for everything.
10 METRO Cash & Carry principles
The success of the company is based on the following principles:
• Focus on professional customers
• One-stop shopping
• Efficient store concept designed for professional needs
• Advanced customer service
• Enhanced customers’ competitiveness
• Excellence in supply chain and quality management
• Strengthening of local suppliers
• Development of national infrastructures
• Career opportunities
• Internationally transferable concept
Proactivity
Being proactive is about being anticipatory and taking charge of situations.
In Organizational Behavior and Industrial/Organizational Psychology, proactive behavior (or proactivity) by individuals refers to anticipatory, change-oriented and self-initiated behavior in the work place. Proactive behavior involves acting in advance of a future situation, rather than just reacting. It means taking control and making things happen rather than just adjusting to a situation or waiting for something to happen. Proactive employees generally do not need to be asked to act, nor do they require detailed instructions.
Proactive behavior can be contrasted with other work-related behaviors, such as proficiency, i.e. the fulfillment of predictable requirements of one’s job, or adaptivity, the successful coping with and support of change initiated by others in the organization. In regard to the latter, whereas adaptivity is about responding to change, proactivity is about initiating change.
In Organizational Behavior and Industrial/Organizational Psychology, proactive behavior (or proactivity) by individuals refers to anticipatory, change-oriented and self-initiated behavior in the work place. Proactive behavior involves acting in advance of a future situation, rather than just reacting. It means taking control and making things happen rather than just adjusting to a situation or waiting for something to happen. Proactive employees generally do not need to be asked to act, nor do they require detailed instructions.
Proactive behavior can be contrasted with other work-related behaviors, such as proficiency, i.e. the fulfillment of predictable requirements of one’s job, or adaptivity, the successful coping with and support of change initiated by others in the organization. In regard to the latter, whereas adaptivity is about responding to change, proactivity is about initiating change.
Animal Farm by George Orwell(an overview)
Animal Farm is a novel by George Orwell. Published in England on 17 August 1945, the book reflects events leading up to and during the Stalin era before World War II. Orwell, a democratic socialist and a member of the Independent Labour Party for many years, was a critic of Joseph Stalin and was suspicious of Moscow-directed Stalinism after his experiences with the NKVD during the Spanish Civil War. In a letter to Yvonne Davet, Orwell described Animal Farm as his novel 'contre Stalin
The short novella is an allegory in which animals play the roles of the Bolshevik revolutionaries and overthrow and oust the human owners of the farm, setting it up as a commune in which, at first, all animals are equal; however, class and status disparities soon emerge between the different animal species(the pigs being the "greater species"). The novel describes how a society's ideologies can be manipulated and twisted by those in positions of social and political power, including how a utopian society is made impossible by the corrupting nature of the very power necessary to create it.
The short novella is an allegory in which animals play the roles of the Bolshevik revolutionaries and overthrow and oust the human owners of the farm, setting it up as a commune in which, at first, all animals are equal; however, class and status disparities soon emerge between the different animal species(the pigs being the "greater species"). The novel describes how a society's ideologies can be manipulated and twisted by those in positions of social and political power, including how a utopian society is made impossible by the corrupting nature of the very power necessary to create it.
Animal Farm by George Orwell(an overview)
Animal Farm is a novel by George Orwell. Published in England on 17 August 1945, the book reflects events leading up to and during the Stalin era before World War II. Orwell, a democratic socialist and a member of the Independent Labour Party for many years, was a critic of Joseph Stalin and was suspicious of Moscow-directed Stalinism after his experiences with the NKVD during the Spanish Civil War. In a letter to Yvonne Davet, Orwell described Animal Farm as his novel 'contre Stalin
The short novella is an allegory in which animals play the roles of the Bolshevik revolutionaries and overthrow and oust the human owners of the farm, setting it up as a commune in which, at first, all animals are equal; however, class and status disparities soon emerge between the different animal species(the pigs being the "greater species"). The novel describes how a society's ideologies can be manipulated and twisted by those in positions of social and political power, including how a utopian society is made impossible by the corrupting nature of the very power necessary to create it.
The short novella is an allegory in which animals play the roles of the Bolshevik revolutionaries and overthrow and oust the human owners of the farm, setting it up as a commune in which, at first, all animals are equal; however, class and status disparities soon emerge between the different animal species(the pigs being the "greater species"). The novel describes how a society's ideologies can be manipulated and twisted by those in positions of social and political power, including how a utopian society is made impossible by the corrupting nature of the very power necessary to create it.
Porter's Generic Competitive Strategies (ways of competing)
A firm's relative position within its industry determines whether a firm's profitability is above or below the industry average. The fundamental basis of above average profitability in the long run is sustainable competitive advantage. There are two basic types of competitive advantage a firm can possess: low cost or differentiation. The two basic types of competitive advantage combined with the scope of activities for which a firm seeks to achieve them, lead to three generic strategies for achieving above average performance in an industry: cost leadership, differentiation, and focus. The focus strategy has two variants, cost focus and differentiation focus.
1. Cost Leadership
In cost leadership, a firm sets out to become the low cost producer in its industry. The sources of cost advantage are varied and depend on the structure of the industry. They may include the pursuit of economies of scale, proprietary technology, preferential access to raw materials and other factors. A low cost producer must find and exploit all sources of cost advantage. if a firm can achieve and sustain overall cost leadership, then it will be an above average performer in its industry, provided it can command prices at or near the industry average.
2. Differentiation
In a differentiation strategy a firm seeks to be unique in its industry along some dimensions that are widely valued by buyers. It selects one or more attributes that many buyers in an industry perceive as important, and uniquely positions itself to meet those needs. It is rewarded for its uniqueness with a premium price.
3. Focus
The generic strategy of focus rests on the choice of a narrow competitive scope within an industry. The focuser selects a segment or group of segments in the industry and tailors its strategy to serving them to the exclusion of others.
The focus strategy has two variants.
(a) In cost focus a firm seeks a cost advantage in its target segment, while in (b) differentiation focus a firm seeks differentiation in its target segment.
Both variants of the focus strategy rest on differences between a focuser's target segment and other segments in the industry. The target segments must either have buyers with unusual needs or else the production and delivery system that best serves the target segment must differ from that of other industry segments. Cost focus exploits differences in cost behaviour in some segments, while differentiation focus exploits the special needs of buyers in certain segments.
1. Cost Leadership
In cost leadership, a firm sets out to become the low cost producer in its industry. The sources of cost advantage are varied and depend on the structure of the industry. They may include the pursuit of economies of scale, proprietary technology, preferential access to raw materials and other factors. A low cost producer must find and exploit all sources of cost advantage. if a firm can achieve and sustain overall cost leadership, then it will be an above average performer in its industry, provided it can command prices at or near the industry average.
2. Differentiation
In a differentiation strategy a firm seeks to be unique in its industry along some dimensions that are widely valued by buyers. It selects one or more attributes that many buyers in an industry perceive as important, and uniquely positions itself to meet those needs. It is rewarded for its uniqueness with a premium price.
3. Focus
The generic strategy of focus rests on the choice of a narrow competitive scope within an industry. The focuser selects a segment or group of segments in the industry and tailors its strategy to serving them to the exclusion of others.
The focus strategy has two variants.
(a) In cost focus a firm seeks a cost advantage in its target segment, while in (b) differentiation focus a firm seeks differentiation in its target segment.
Both variants of the focus strategy rest on differences between a focuser's target segment and other segments in the industry. The target segments must either have buyers with unusual needs or else the production and delivery system that best serves the target segment must differ from that of other industry segments. Cost focus exploits differences in cost behaviour in some segments, while differentiation focus exploits the special needs of buyers in certain segments.
The most common form of direct marketing is direct mail, sometimes called junk mail, used by advertisers who send paper mail to all postal customers in an area or to all customers on a list.
Typical junkmail.
Any low-budget medium that can be used to deliver a communication to a customer can be employed in direct marketing. Probably the most commonly used medium for direct marketing is mail, in which marketing communications are sent to customers using the postal service. The term direct mail is used in the direct marketing industry to refer to communication deliveries by the Post Office, which may also be referred to as "junk mail" or "admail" and may involve bulk mail.
Junk mail includes advertising circulars, catalogs, free trial CDs, pre-approved credit card applications, and other unsolicited merchandising invitations delivered by mail or to homes and businesses, or delivered to consumers' mailboxes by delivery services other than the Post Office. Bulk mailings are a particularly popular method of promotion for businesses operating in the financial services, home computer, and travel and tourism industries.
In many developed countries, direct mail represents such a significant amount of the total volume of mail that special rate classes have been established. In the United States and United Kingdom, for example, there are bulk mail rates that enable marketers to send mail at rates that are substantially lower than regular first-class rates. In order to qualify for these rates, marketers must format and sort the mail in particular ways - which reduces the handling (and therefore costs) required by the postal service.
Advertisers often refine direct mail practices into targeted mailing, in which mail is sent out following database analysis to select recipients considered most likely to respond positively. For example a person who has demonstrated an interest in golf may receive direct mail for golf related products or perhaps for goods and services that are appropriate for golfers. This use of database analysis is a type of database marketing. The United States Postal Service calls this form of mail "advertising mail"
Typical junkmail.
Any low-budget medium that can be used to deliver a communication to a customer can be employed in direct marketing. Probably the most commonly used medium for direct marketing is mail, in which marketing communications are sent to customers using the postal service. The term direct mail is used in the direct marketing industry to refer to communication deliveries by the Post Office, which may also be referred to as "junk mail" or "admail" and may involve bulk mail.
Junk mail includes advertising circulars, catalogs, free trial CDs, pre-approved credit card applications, and other unsolicited merchandising invitations delivered by mail or to homes and businesses, or delivered to consumers' mailboxes by delivery services other than the Post Office. Bulk mailings are a particularly popular method of promotion for businesses operating in the financial services, home computer, and travel and tourism industries.
In many developed countries, direct mail represents such a significant amount of the total volume of mail that special rate classes have been established. In the United States and United Kingdom, for example, there are bulk mail rates that enable marketers to send mail at rates that are substantially lower than regular first-class rates. In order to qualify for these rates, marketers must format and sort the mail in particular ways - which reduces the handling (and therefore costs) required by the postal service.
Advertisers often refine direct mail practices into targeted mailing, in which mail is sent out following database analysis to select recipients considered most likely to respond positively. For example a person who has demonstrated an interest in golf may receive direct mail for golf related products or perhaps for goods and services that are appropriate for golfers. This use of database analysis is a type of database marketing. The United States Postal Service calls this form of mail "advertising mail"
Price War
The expenses incurred on this video are obviously huge; location, celebs etc. During our marketing course we came to know that price war is basically a stupidity as it's a loose-loose theory. Products like soft drinks, cell phone connection etc are seen quit often following this phenomena. Then what's the point of spending such huge amounts on these commercial ads?
Google Chrome
As we know that Google has launched its Web Browser named GOOGLE CHROME! . With the launch of Google Chrome an intense browser war is being witnessed. Some years back browsers were the only source of viewing Web pages. But nowadays they are loaded with tons of information, services and applications. Whereas, Google is already offering many applications and services like Gmail, Google Docs, Google Pages, Blogger, AdSense, Google Calender (Beta) etcetera. So its not surprising that Chrome not only has the ability to browse websites but can process code as well. For marketers Chrome's high speed rendering will optimize the way users now view rich media.Therefore to increase their market share; Google is constantly marketing "GOOGLE CHROME" through AdSense and advertisements, to persuade users to install Chrome. Recently in Japan Google displayed an advertisement in which users are persuaded to install Google Chrome. Lets wait and see, that will Google lead the bandwagon in future or not.
GOOGLE CHROME, JAPAN
Sunday, February 1, 2009
Public relations
Public relations (PR) is the practice of managing the flow of information between an organization and its publics. Public relations - often referred to as PR - gains an organization or individual exposure to their audiences using topics of public interest and news items that do not require direct payment.Because public relations places exposure in credible third-party outlets, it offers a third-party legitimacy that advertising does not have. Common activities include speaking at conferences, working with the press, and employee communication.
PR can be used to build rapport with employees, customers, investors, voter, or the general public. Almost any organization that has a stake in how it is portrayed in the public arena employs some level of public relations. A number of specialties exist within the field of public relations, such as Media Relations, Investor Relations or Labor Relations.
PR can be used to build rapport with employees, customers, investors, voter, or the general public. Almost any organization that has a stake in how it is portrayed in the public arena employs some level of public relations. A number of specialties exist within the field of public relations, such as Media Relations, Investor Relations or Labor Relations.
Internet marketing,
Internet marketing, also referred to as web marketing, online marketing, or eMarketing, is the marketing of products or services over the Internet.
The Internet has brought many unique benefits to marketing, one of which being lower costs for the distribution of information and media to a global audience. The interactive nature of Internet marketing, both in terms of providing instant response and eliciting responses, is a unique quality of the medium. Internet marketing is sometimes considered to have a broader scope because it refers to digital media such as the Internet, e-mail, and wireless media; however, Internet marketing also includes management of digital customer data and electronic customer relationship management (ECRM) systems.
Internet marketing ties together creative and technical aspects of the Internet, including design, development, advertising, and sales. Internet marketing does not simply entail building or promoting a website, nor does it mean placing a banner ad on another website. Effective Internet marketing requires a comprehensive strategy that synergizes a given company's business model and sales goals with its website function and appearance, focusing on its target market through proper choice of advertising type, media, and design.
The Internet has brought many unique benefits to marketing, one of which being lower costs for the distribution of information and media to a global audience. The interactive nature of Internet marketing, both in terms of providing instant response and eliciting responses, is a unique quality of the medium. Internet marketing is sometimes considered to have a broader scope because it refers to digital media such as the Internet, e-mail, and wireless media; however, Internet marketing also includes management of digital customer data and electronic customer relationship management (ECRM) systems.
Internet marketing ties together creative and technical aspects of the Internet, including design, development, advertising, and sales. Internet marketing does not simply entail building or promoting a website, nor does it mean placing a banner ad on another website. Effective Internet marketing requires a comprehensive strategy that synergizes a given company's business model and sales goals with its website function and appearance, focusing on its target market through proper choice of advertising type, media, and design.
HOW DEAL WITH CLIENT
The positive Client relationship that may take an eternity to develop… can be destroyed in an instant
1. Listen: Talk 10%, listen 90%.
Clients will love you and heck, you might just learn something.
2. Know the client’s business:
Do the research and understand their products, distribution, competition and position within the market.
3. Know the client’s customer:
Understand every step and emotion their consumers go through on the path to a purchase.
4. Be their brand steward:
Be protective of what’s responsible and relevant to their brand.
5. Exceed their expectations:
Surprise them with more than they expect and they’ll see more value.
6. Persuade, don’t sell:
Clients can smell a selling style and they think it stinks.
7. Don’t be self-serving:
Judge and support the work from a business perspective. If a client thinks you are looking at creative for creative sake the trust evaporates.
8. Demonstrate enthusiasm:
Show them that you love their business and helping them solve problems.
9. Know the client:
When a client knows the creative people on a personal level it goes a long way.
10. Apply some of these steps to the people you work with:
When the internal team trusts and respects each other, the work only gets better.
1. Listen: Talk 10%, listen 90%.
Clients will love you and heck, you might just learn something.
2. Know the client’s business:
Do the research and understand their products, distribution, competition and position within the market.
3. Know the client’s customer:
Understand every step and emotion their consumers go through on the path to a purchase.
4. Be their brand steward:
Be protective of what’s responsible and relevant to their brand.
5. Exceed their expectations:
Surprise them with more than they expect and they’ll see more value.
6. Persuade, don’t sell:
Clients can smell a selling style and they think it stinks.
7. Don’t be self-serving:
Judge and support the work from a business perspective. If a client thinks you are looking at creative for creative sake the trust evaporates.
8. Demonstrate enthusiasm:
Show them that you love their business and helping them solve problems.
9. Know the client:
When a client knows the creative people on a personal level it goes a long way.
10. Apply some of these steps to the people you work with:
When the internal team trusts and respects each other, the work only gets better.
Engro New Plan
ENGRO, the premier fertilizer giant of Pakistan, has plans of making an entry into Pakistani telecom sector for a long time but has yet to get any success.
We’ve got confirmed information that the company was all set to buy controlling stake in Telenor’s Pakistan operations even before its launch but the companies failed to reach a deal. Earlier in 2004, the company entered into talks and a possible deal with Vodafone to launch it services in the country but somehow the deal never materialized.
Given these circumstances and the global economic slump, it seems likely that the company has shelved, at least for some time, its plans of entering the telecom sector
We’ve got confirmed information that the company was all set to buy controlling stake in Telenor’s Pakistan operations even before its launch but the companies failed to reach a deal. Earlier in 2004, the company entered into talks and a possible deal with Vodafone to launch it services in the country but somehow the deal never materialized.
Given these circumstances and the global economic slump, it seems likely that the company has shelved, at least for some time, its plans of entering the telecom sector
Mobilink Infinity
Ercial launch of its Wi-Max service, Mobilink Infinity. The service, still limited to Karachi, was originally launched in July in a rather hush-hush manner with no advertisements. The telecom giant was apparently weighing its options before embarking on a full-scale launch.The service is a hit with Karachiites and up to 2,000 people switched to this service in the pre-launch stage. There are technical as well as customer service related issues and the service needs a lot of improvement. The tarrifs are quite reasonable - they are offering 1 Mbps/15GB monthly package for Rs. 1500 with additional data rate of Rs. 30 per 100 MB. The price of Customer Premises Equipment (CPE) is Rs. 6,000 while the installation charges are Rs. 2,000 (it was free initially).The tariffs are applicable from Nov. 1.UPDATE: The company has finally decided to expand the network and rounds of testing are going on in Islamabad, Lahore and Faisalabad, G&W has learned. The product will be launched in Islamabad and then Lahore, according to our source. I guess they’ll follow the same strategy as applied in Karachi, a quiet soft launch to be followed by the official one.
Telenor Offer
Telenor recently announced a free SMS package during the Hajj season. Under the service, pilgrims will have an opportunity to send pre-defined messages to their near and dear ones in Pakistan. The service is applicable on all mobile networks of Pakistan.The service is the first of its kind in Pakistan though in the past Mobilink also offered a Hajj services package where the pilgrims had an opportunity to learn the basics of Hajj, among other things. Warid offered free roaming last year but it, and other telcos, have yet to announce any similar package. Given the popularity and flexibility of SMS, the Hajj package of Telenor is really a good gesture of public service.
Freebie Marketing
Freebie marketing, also known as the razor and blades business model, is the concept of either giving away a sellable item for nothing or charging an extremely low price in order to generate a continual market for another, generally disposable, item. The concept was pioneered by, King C. Gillette inventor of the disposable safety razor and founder of Gillette Safety Razor Company (today known as Global Gillette, a division of Procter and Gmable). It is a similar concept to loss leader marketing.
Cellar Marketing
the cellar is the marketing theme or concept for the group of departments that are commonly located on the first floor below ground level at the larger Macey's departmental store locations. Although every Macy's has such a department, only the larger flagships actually have basement-level space devoted to the cellar concept. The concept was pioneered in 1971 as a gourmet kitchenware marketing concept in the San Fransisco flagship store of the Macey's west division. the cellar theme covers appliances, fixtures, kitchenware, and tableware. Macy's stocks a wide range of brands in the cellar, including upscale and gourmet brands, as well as two private labels: "Tools of the Trade" for cookware, cutlery, and kitchen gadgets; and "the cellar" for flatware, dinnerware, and glassware.
In August 2006, the Chicago flagship's basement level transitioned to this concept in preparation from the September Marshall field's conversion. It did so by posting the themed logos as pictured in its housewares department.
In August 2006, the Chicago flagship's basement level transitioned to this concept in preparation from the September Marshall field's conversion. It did so by posting the themed logos as pictured in its housewares department.
Borderless Selling
Borderless selling is the process of selling services to clients outside the country of origin of services through modern methods which eliminate the actions specifically designed to hinder international trade. International trade through "borderless selling" is a new phenomenon born in the current "globalisation" era.
Customer relationship management
Customer relationship management (CRM) consists of the processes a company uses to track and organize its contacts with its current and prospective customers. CRM software is used to support these processes; the software system can be accessed, and information about customers and customer interactions can be entered, stored and accessed by employees in different company departments. Typical CRM goals are to improve services provided to customers, and to use customer contact information for targeted marketing.
While the term CRM generally refers to a software-based approach to handling customer relationships, most CRM software vendors stress that a successful CRM effort requires a holistic approach. CRM initiatives often fail because implementation was limited to software installation, without providing the context, support and understanding for employees to learn, and take full advantage of the information systems
A Blog Is Also a Website
It is important to realise that a blog is also a website and should be treated as a website.When lunching a blog it require just as much marketing effort as traditional one.A blog need to promoted in order for web trafic to find you.One major aspect of blog is its content.
Content is really what the blog is designed for. A blog feeds off of content rich blog posts. That is what drives it’s engine. It is important to always keep writing in your blog in order to get blog posts visible. It requires more than just launching the site for others to see it. Link building efforts will be a must in order to create multiple pathways to your blog. There are many pieces to the puzzle on how to get a blog or website visible and popular but over all blog marketing requires many different steps and angles. You have to treat your blog like a business regardless if you sell anything. Creating a successful blog takes layers
Content is really what the blog is designed for. A blog feeds off of content rich blog posts. That is what drives it’s engine. It is important to always keep writing in your blog in order to get blog posts visible. It requires more than just launching the site for others to see it. Link building efforts will be a must in order to create multiple pathways to your blog. There are many pieces to the puzzle on how to get a blog or website visible and popular but over all blog marketing requires many different steps and angles. You have to treat your blog like a business regardless if you sell anything. Creating a successful blog takes layers
Marketing management
Marketing management is a business discipline which is focused on the practical application of marketing techniques and the management of a firm's marketing resources and activities. Marketing managers are often responsible for influencing the level, timing, and composition of customer demand accepted definition of the term. In part, this is because the role of a marketing manager can vary significantly based on a business' size, corporate culture, and industry context. For example, in a large consumer products company, the marketing manager may act as the overall general manager of his or her assigned product .From this perspective, the scope of marketing management is quite broad. The implication of such a definition is that any activity or resource the firm uses to acquire customers and manage the company's relationships with them is within the purview of marketing management. Additionally, the Kotler and Keller definition encompasses both the development of new products and services and their delivery to customers.
Marketing co-operation
A marketing co-operation or marketing cooperation is a partnership of at least two companies on the value chain level of marketing with the objective to tap the full potential of a market by bundling specific competences or resources. Other terms for marketing co-operation are marketing alliance, marketing partnership, co-marketing, and cross-marketing.
Marketing co-operations are sensible when the marketing goals of two companies can be combined with a concrete performance measure for the end consumer. Successful marketing co-operations generate “win-win-win” situations that offer value not only to both partnering companies but also to their customers.
Marketing co-operations extend the perspective of marketing. While marketing measures deal with the optimal organization of the relationship between a company and its existing and potential customers, marketing co-operations audit to what extent the integration of a partner can contribute to improving the relationship between companies and customers.
Marketing co-operations are sensible when the marketing goals of two companies can be combined with a concrete performance measure for the end consumer. Successful marketing co-operations generate “win-win-win” situations that offer value not only to both partnering companies but also to their customers.
Marketing co-operations extend the perspective of marketing. While marketing measures deal with the optimal organization of the relationship between a company and its existing and potential customers, marketing co-operations audit to what extent the integration of a partner can contribute to improving the relationship between companies and customers.
Pakistan heading towards self-reliance in motorcycle parts
Government-run organisations, related to heavy engineering, have started work on the project of manufacturing parts previously imported at the local level to bail out the motorcycle industry from crisis. Under the plan at an initial level, spare parts, including engine, gear and clutch of 70cc motorcycles, will be manufactured. This will not only help save more than Rs1 billion in foreign exchange that is spent on the import of motorcycle parts from Japan and China every year, it will also help Pakistan export these parts by reducing manufacturing cost to third-world countries especially those in Africa. Work on the project is being launched with the consultation and cooperation of the motorcycle industry to achieve the target of 100 per cent production of motorcycles inside the country so as to do away with the dependence on imported parts for Chinese technology-based motorcycles. With the cooperation of the Engineering Development Board working under the Ministry of Industries and Production, work on production of motorcycle parts including engine, gear and clutch has started at the plants of Pakistan Engineering Company in Lahore and that of Pakistan Tools Factory in Karachi. At an initial level, parts of 70cc motorcycles like crank cases, crank shaft, covers and gears have been made, whereas piston and clutch are also being manufactured. Taking benefit of the technical expertise of the heavy engineering organisations of the country supply of 30 per cent parts of the engine has also been started. Whereas 70cc engine for the motorcycles will be supplied to the market after being improved. For the success of the project and for achieving the desired results, the process of consultation and decision-making has completed between the heads of the two heavy engineering organisations and the motorcycle industry. Members of the motorcycling industry, while expressing interest in the project, have also assured the two organisations that the industry will purchase locally-manufactured parts even if they are costly. According to experts in the motorcycle industry, at present 70 per cent body parts of Chinese-manufactured motorcycles are available in the country, whereas 30 per cent of the engine and the other parts are being imported. The production of engines at the local level will reduce the import bill besides ensure supply to the local industry. Those associated with the motorcycle industry are of the view that in spite of the presence of engineering organisations in the country the industry was comparatively lagging behind as compared to other nations in the region. All over the world more than 100 different models of motorcycles are available. Only in India 50 different models of motorcycles are being manufactured. In Pakistan, on the other hand, only three models are assembled and sold. The 70cc motorcycle that is the most popular in Pakistan is not in use in the rest of the world so it cannot be exported to any country. The start of production of parts in the government engineering organisations will also help in the production of newer models of motorcycles. This will in turn help Pakistan find a place in the motorcycle industry in the international market. According to those associated with the motorcycle industry the motorcycle assemblers import parts and engines from China to fulfill the requirements for a three-month period. This also blocks their working capital for a period of three months. With the production of engine and other parts at the local level the shortage of capital will also reduce. Those associated with the industry said last year one million motorcycle parts and 0.6 million complete engines were imported at a cost of more than Rs1 billion. Sources say that an increase in prices of Chinese and Japanese motorcycles is being noticed because of increase in taxes on the raw material, gas and electricity. According to motorcycle assemblers at the local as well as international level, the production cost of motorcycles has increased by some 50 per cent due to increase in prices of raw material, steel, rubber; gas, power and charge of other utilities. According to the Chinese-manufactured motorcycle assemblers the motorcycle industry is passing through the worst kind of crisis in the last eight years and that a clear decrease in the sale of motorcycles was recorded. The main reason was the decline in the purchasing power of consumers. During the last fiscal year, 2007-08, 1.058,339 million motorcycles were produced. But during the current financial year a decrease of 30 per cent was observed. According to an estimate the sale of motorcycles is expected to stay around 0.8 million units by the end of current year. By starting complete production of motorcycles at the local level Pakistan can export these motorcycles to countries like South Africa, Bangladesh, Sri Lanka, etc. and earn valuable foreign exchange.
source: http://www.weeklypulse.org/pulse/article/2891.html
source: http://www.weeklypulse.org/pulse/article/2891.html
THE PROMOTION MIX
Promotion mix (marketing communications mix) is the specific blend of advertising, sales promotion, public relations, personal selling, and direct-marketing tools that the company uses to persuasively communicate customer value and build customer relationships.
Definitions of the five major promotion tools follow:
Advertising
Any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor.
Sales promotion
Short-term incentives to encourage the purchase or sale of a product or service.
Public relations
Building good relations with the company's various publics by obtaining favorable publicity, building up a good "corporate image", and handling or heading off unfavorable rumors, stories, and events.
Personal selling
Personal presentation by the firm's sales force for the purpose of making sales and building customer relationships.
Direct marketing
Direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships.
Definitions of the five major promotion tools follow:
Advertising
Any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor.
Sales promotion
Short-term incentives to encourage the purchase or sale of a product or service.
Public relations
Building good relations with the company's various publics by obtaining favorable publicity, building up a good "corporate image", and handling or heading off unfavorable rumors, stories, and events.
Personal selling
Personal presentation by the firm's sales force for the purpose of making sales and building customer relationships.
Direct marketing
Direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships.
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