Management Strategic

Social Marketing Tips For Ecommerce Shops

2009-04-13T00:59:00.010+07:00

Social marketing is one of the many methods that people use to really establish their business. So what is it? Social marketing is simply a fancy name for getting outside of your ecommerce website and establishing relationships in an effort to gain business. So for example, if you own a website that sells soccer jerseys, you maybe visit and interact with people who might be interested in those products. Spend time on coaching forums, find other coaches in the area and speak with them, interact and gain their trust is the key here.

This may sound like a lot of work for very little reward. However, I want to tell you a success story before you toss this to the wayside and forget about it. I am a big fan of scuba diving and when I first got into it I was really talking a lot about it on forums and things. I was looking for equipment, I was reading reviews, I was interacting with other scuba divers. I noticed there was one person lurking around always answering questions, was extremely helpful, and also sold equipment at fair pricing. I ended up driving down to his store just to buy from him. While I am only one person, there were hundreds of people buying from him based on his interaction and good service that he was offering through the scuba diving forum. It ended up about a year later I saw him on CNN money.com where he was stated as having one of the top 25 fastest growing web businesses. His small little company quickly became one of the top scuba diving shops nationwide. His business is bringing in several million dollars per year right now. It all started with word of mouth an interaction of others who would be interested in his product.

While you may not be as successful as he is with social marketing, you will definitely see other benefits to it as well. Most people want to buy from companies who have a personal feel to them, but also from those who know what they are talking about. If you have a good understanding of the products you are selling, then you are very likely to establish yourself as a leader in the industry. When people think of you as such, they will be more inclined to listen to you, and buy from you.

If you are still unsure of exactly where to go to get started, then you should not worry too much. I mentioned the power of social marketing through forums above, but forums are not the only platform that you can use. As far as the internet goes, Twitter, Facebook, and MySpace are equally as good platforms. The key here is to go where the people are that might be interested in what you are selling. You do not want to jump in there and just start advertising. Introduce yourself, maybe throw in a link to your website every now and then if you think people are interested in what you are saying, but interaction is more important than the actual link. Eventually, people will come to you rather than you going to them. This is simply an act of making the first step to becoming more visible and establishing friends within a community that can refer you other customers.

The time in which it takes to see results from social marketing can vary. The scuba community is actually rather small in comparison to some other markets. So presenting yourself as a friend but also a leader within the community can take time. For some it happens quickly, others it is a much slower process. Always keep in mind here that you are interacting with potential customers and always act professionally. This will be beneficial in how others perceive you. A little leg work can go a long way.

Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant

Corporate Social Responsibility

2009-01-25T00:55:00.004+07:00

Corporate social responsibility (CSR, also called corporate responsibility, corporate citizenship, responsible business and corporate social opportunity) is a concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders, as well as the environment. This obligation is seen to extend beyond the statutory obligation to comply with legislation and sees organizations voluntarily taking further steps to improve the quality of life for employees and their families as well as for the local community and society at large.

The practice of CSR is subject to much debate and criticism. Proponents argue that there is a strong business case for CSR, in that corporations benefit in multiple ways by operating with a perspective broader and longer than their own immediate, short-term profits. Critics argue that CSR distracts from the fundamental economic role of businesses; others argue that it is nothing more than superficial window-dressing; still others argue that it is an attempt to preempt the role of governments as a watchdog over powerful multinational corporations.

source : wikipedia.org

The Four Ps Of Marketing

2009-01-09T15:04:00.008+07:00

While the forms of marketing are almost as varied as the products themselves,there is evidence that there are some universal rules that are applicable to successful marketing in the retail and some service industries. Studies have found that some of the characteristics affecting consumer behavior that marketers must take into account,due to the influence on consumer purchases are product, pricing, positioning, and placement. What is known in marketing circles as the four p's.

Product is the goods or service you create or obtain to sell to consumers that you can make a profit suppling to consumers.In order to grow or maintain continued profit,this product must be able to attract new customers.

Pricing is the actual fee you intend to charge for the product or service to your target consumer group for profit. When setting prices,always remember that profits are always affected by any discounts and or allowances you may coose to offer in the future,and be sure that you are setting profits within the legal limits of the law. Many great business plans have failed simply because no one took the time to consider the legal side of planning.

Positioning is positioning the product in your target consumer groups minds. A right positioning strategy has to be in place as a foundation,along with a product that follows through on a promise. A positioning strategy is always aimed at your target group.Some positioning options are as follows,you may position against a competitor,by claiming lower prices,or you may emphasize a distinctive benefit such as"twenty years in the same location". You may also affiliate yourself with somthing the customer values such as,"the only one recognized by the american business agency" or the like.

Placement is the advertising factor of a business ask yourself "how will you advertise"? Will it be television, print ads, or the internet? Most advertising media can be used to the advantage of a business, so remember to consider which would be the most cost effective to you.

It is important to keep in mind the four P's when planning your campaigns in the competitive world of marketing.

Source : echeat.com

What is Marketing?

2009-01-09T14:50:00.010+07:00

Marketing consists of individual and organizational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion, and pricing of goods, services, and ideas. An understanding of marketing is important for success in all business fields and occupations. Rapid technological innovations continue to change human needs and provide goods and services to consumers at an affordable price. Marketers are instrumental in achieving such tasks. Career opportunities in marketing are virtually unlimited. Marketing is critical for the survival of any business because it is the major revenue-generating function in the firm. All organizations — from regular businesses to nonprofit organizations such as churches or charities — must engage in marketing activities and need highly qualified marketing professionals. That need is reflected in the high starting salaries and opportunities for rapid career advancement available to marketing graduates.

Interactive marketing is another career area open to you as a marketing professional. As a result of technological capabilities and lifestyle market opportunities, interactive marketing has enjoyed substantial expansion. Although precise figures are difficult to pinpoint, interactive marketing has grown at a rate of at least 10% annually in recent years. The marketing positions in interactive marketing generally involve three facets: planning marketing activities, marketing research, and market analysis. Underlying most interactive marketing programs is the use of a computerized database containing data related to customer/prospect information, transaction records, and media tracking information. Graduating students with skills and interest in both marketing and data processing are likely to find excellent career opportunities in interactive marketing.

Source Page :
Kotler, Philip. Marketing Professional Services. Englewood Cliffs, NJ: Prentice-Hall, Inc., 1984
Crandall, Rick. 1001 Ways to Market Your Services. Chicago, IL: Contemporary Books, 1998

DELL SWOT Analysis

2009-01-09T01:41:00.020+07:00

Strengths.

Dell is the World's largest PC maker. Profits for the 3 months to July 2005 were in excess of $1billion US, representing a growth of around 28%. For the last couple of years it has held its position as market leader (it took it from rivals Hewlett-Packard). The Dell brand is one of the best known and renowned computer brands in the World.
Dell cuts out the retailer and supplies directly to the customers. It uses information technology,and Customer Relationship Management (CRM) approaches to capture data on its loyal consumers. So a customer selects a generic PC model, and then adds items and upgrades until the PC is kitted out to the customer's own specification. Components are made by suppliers,never by Dell. PC's are assembled using relatively cheap labor. You can even keep track of your delivery by contacting customer services, based in India. The finished goods are then dropped off with the customer by courier. Dell has total command of the supply chain.

Weaknesses.

The company has such a huge range of products and components from many suppliers from aplethora of countries, that there is the occasional product recall that can cause Dell some embarrassment. In 2004 Dell had to recall 4.4 million laptop adapters because of a fear that they could overheat, causing electric shocks or fires.
Dell is a computer maker, not a compute manufacturer. It buys from a group of concentrated hitech component manufacturers. Whilst this is a tremendous advantage in terms of business operations, allowing Dell to focus on marketing and logistics, the company is reliant on a few large suppliers, and to an extent is locked in for periods of time (i.e. unable to switch supply).

Opportunities.

Kevin Rollins replaced Michael Dell in 2004 as Dell's Chief Executive Officer. Dell remained the company's Chairman. Despite founder Dell's massive success, new blood and a change in management thinking could lead the company into a new, even more profitable period. Dell was born in 1965, and founded Dell in 1984 with $1000 whilst studying at the University of Texas. He became the youngest Fortune 500 CEO in 1992, and will be a tough act to follow.
Dell is pursuing a diversification strategy by introducing many new products to its range. This initially has meant good such as peripherals including printers and toners, but now also included LCD televisions and other non-computing goods. So Dell compete against iPod and other consumer electronics brands.
Dell is making and selling low-cost, low-price computers to PC retailers in the United States.The PC's are unbranded and should not be recognised as being Dell when the consumer makes a purchase. Rebranding and rebadging for retailers, although a departure for Dell, gives the company new market segments to attack with the associated marketing costs.

Threats.

The single biggest problem for Dell is the competitive rivalry that exists in the PC market globally. As with all profitable brands, retaliation from competitors and new entrants to the market pose potential threats. Dell sources from Far Eastern nations where labour costs remain low, but there is nothing stopping competitors doing the same - even sourcing the same or similar components from the same or similar suppliers. Remember, Dell is a PC maker, not a PC manufacturer.
Dell, being global in its marketing and operations, is exposed to fluctuations in the World currency markets. Although it is a very lean organization, orders do have to be placed some time ahead due to their size or value. Changes in exchange rates could leave the company exposed to potential loses in parts of its supply chain.

Source: marketingteacher

Marketing Plan Coca Cola (Part 3 - Pricing Strategies And Tactics)

2009-01-09T01:26:00.009+07:00

The pricing Strategy a business will use will have to focus on achieving the marketing plan’s objectives and support the positioning of the product, and take external factors such as economic conditions and competitors in to account. There are 5 strategies available to business: Market skimming pricing, Penetration pricing, Loss leaders, Price Points and Discounts. Over the years Coca Cola has used Penetration Pricing as a way of grabbing a foothold in the market and won a market share. It’s product penetrated the marketplace. Once customer loyalty is established as seen with Coca Cola it is then able to slowly raise the price of its product. There has been a fierce pricing rivalry between Coca Cola and Pepsi products as each company competes for customer recognition and satisfaction. Till now it appears as if Coke has come up on top, although in order to gain long term profits Coke had to sacrifise short term profits where in some cases it either went under of just broke even, but as seen it has been all for the best.

Pricing Methods
Good pricing decisions are based on an analysis of what target customers expect to pay, and what they perceive as good quality. If the price is too high, consumers will spend their money on other goods and services. If the price is too low, the firm can lose money and go out of business.
Pricing methods include: Cost based Pricing, Market based pricing and Competition based Pricing. Over the years Coca has lost ground here in it’s pricing but has regained it’s strength as it employed the Competition-based pricing method which allowed it to compete more effectively in the soft drink market. Leader follower pricing occurs when there is one quite powerful business in the market which is thought to be the market leader. The business will tend to have a larger market share, loyal customers and some technological edge, thus the case currently with Coke, it was first the follower but through effective management has now become the leader of the market and is working towards achieving the marketing objectives of the Coca Cola. Survival in the market place, own 60 % of market share by 2007, increase further awareness of product and a return on 20% on capital employed for August 2007.

Marketing Plan Coca Cola (Part 2 - SWOT Analysis)

2009-01-09T01:08:00.007+07:00

SWOT stands for Strengths Weakness Opportunities Threats. SWOT analysis is a technique much used in many general management as well as marketing scenarios. SWOT consists of examining the current activities of the organisation- its Strengths and Weakness- and then using this and external research data to set out the Opportunities and Threats that exist.

Strengths:
Coca-Cola has been a complex part of world culture for a very long time. The product's image is loaded with over-romanticizing, and this is an image many people have taken deeply to heart. The Coca-Cola image is displayed on T-shirts, hats, and collectible memorabilia. This extremely recognizable branding is one of Coca-Cola's greatest strengths. "Enjoyed more than 685 million times a day around the world Coca-Cola stands as a simple, yet powerful symbol of quality and enjoyment" (Allen, 1995).
Additionally, Coca-Cola's bottling system is one of their greatest strengths. It allows them to conduct business on a global scale while at the same time maintain a local approach. The bottling companies are locally owned and operated by independent business people who are authorized to sell products of the Coca-Cola Company. Because Coke does not have outright ownership of its bottling network, its main source of revenue is the sale of concentrate to its bottlers.

Weaknesses:
Weaknesses for any business need to be both minimised and monitored in order to effectively achieve productivity and efficiency in their business’s activities, Coke is no exception. Although domestic business as well as many international markets are thriving (volumes in Latin America were up 12%), Coca-Cola has recently reported some "declines in unit case volumes in Indonesia and Thailand due to reduced consumer purchasing power." According to an article in Fortune magazine, "In Japan, unit case sales fell 3% in the second quarter [of 1998]...scary because while Japan generates around 5% of worldwide volume, it contributes three times as much to profits. Latin America, Southeast Asia, and Japan account for about 35% of Coke's volume and none of these markets are performing to expectation.
Coca-Cola on the other side has effects on the teeth which is an issue for health care. It also has got sugar by which continuous drinking of Coca-Cola may cause health problems. Being addicted to Coca-Cola also is a health problem, because drinking of Coca-Cola daily has an effect on your body after few years.

Opportunities:
Brand recognition is the significant factor affecting Coke's competitive position. Coca-Cola's brand name is known well throughout 94% of the world today. The primary concern over the past few years has been to get this name brand to be even better known. Packaging changes have also affected sales and industry positioning, but in general, the public has tended not to be affected by new products. Coca-Cola's bottling system also allows the company to take advantage of infinite growth opportunities around the world. This strategy gives Coke the opportunity to service a large geographic, diverse area.

Threats:
Currently, the threat of new viable competitors in the carbonated soft drink industry is not very substantial. The threat of substitutes, however, is a very real threat. The soft drink industry is very strong, but consumers are not necessarily married to it. Possible substitutes that continuously put pressure on both Pepsi and Coke include tea, coffee, juices, milk, and hot chocolate. Even though Coca-Cola and Pepsi control nearly 40% of the entire beverage market, the changing health-consciousness of the market could have a serious affect. Of course, both Coke and Pepsi have already diversified into these markets, allowing them to have further significant market shares and offset any losses incurred due to fluctuations in the market. Consumer buying power also represents a key threat in the industry. The rivalry between Pepsi and Coke has produce a very slow moving industry in which management must continuously respond to the changing attitudes and demands of their consumers or face losing market share to the competition. Furthermore, consumers can easily switch to other beverages with little cost or consequence.

Source : echeat.com

Marketing Plan Coca Cola (Part 1 - Situation Analysis )

2009-01-09T00:39:00.007+07:00

Giant soft drink company Coca Cola has come under intense scrutiny by investors due to its inability to effectively carry out its marketing program. Consequently it is seeking the help of Polianitis Marketing Company Pty Ltd to develop a professional marketing plan which will help the business achieve it’s objectives more effectively and efficiently, and inevitably regain there iron fist reign on the soft drink industry.

When establishing a re-birthed marketing plan every aspect of the marketing plan must be critically examined and thoroughly researched. This consists of examining market research, auditing business and current situation (situation analysis) and carefully scrutinising the soft drink industry and possibilities for Coca Cola in the market. Once Coca Cola have carefully analysed the internal and external business environment and critically examined the industry in general the most suitable marketing strategies will be selected and these strategies will be administered by effectively and continually monitoring external threats and opportunities and revising internal efficiency procedures.

Situation Analysis

Market Analysis:

The market analysis investigates both the internal and external business environment. It is vital that Coca cola carefully monitor both the internal and external aspects regarding it’s business as both the internal and external environment and their respective influences will be decisive traits in relation to Coke’s success and survival in the soft drink industry.

Internal Business Environment:

The internal business environment and its influence is that which is to some extent within the business’s control. The main attributes in the internal environment include efficiency in the production process, through management skills and effective communication channels. To effectively control and monitor the internal business environment, Coke must conduct continual appraisals of the business’s operations and readily act upon any factors, which cause inefficiencies in any phase of the production and consumer process.

External Business Environment:

The External business environment and its influences are usually powerful forces that can affect a whole industry and, in fact, a whole economy. Changes in the external environment will create opportunities or threats in the market place Coca cola must be aware off. Fluctuations in the economy, changing customer attitudes and values, and demographic patterns heavily influence the success of Coka Cola’s products on the market and the reception they receive from the consumers.

Source : echeat.com

Caltex's Vision, Values and Strategic Intents (Australia)

2009-01-01T23:21:00.011+07:00

VISION

Our vision is to be the Australian oil refining and marketing company most admired for its people, partnership and performance.

VALUES

We treat all people with fairness, respect and dignity.
We meet the highest ethical standards and operate in a socially responsible manner.
We respect and comply with the law.
We conduct our business in a manner that respects the environment and benefits the communities where we work.
We are committed to incident-free operations and are passionate about achieving results that exceed expectations.
We are focused on providing products and services that meet or exceed the needs of our customers.

STATEGIC INTENTS

operational excellence through safe, secure, reliable, efficient, incident-free and environmentally sound operations
cost management by lowering unit-costs through innovation, technology and work-process improvements
capital stewardship by investing in the best project opportunities and executing them better than our strongest competitors.
strong and sustained profitability through leadership in brand, supply chain and asset management, in developing new opportunities, and favourably shaping the business environment
partnering with employees and other stakeholders by engaging the hearts and minds of our employees through empowerment, respect and dignity, and by building mutually beneficial relationships.

SUCCESS
We earn “most admired” status when we are:

the Australian industry leader in incident-free operations (safety, security, reliability, efficiency and environmental stewardship)
maintaining a competitive cost structure
generating above-industry returns through prudent investments and pace-setter project implementation (safer, faster and at lower cost)
using our brand, supply chain and assets to achieve industry leading profitability
preferred as a place to work, the business partner of choice, and valued contributors to the quality of life in the communities where we do business
the industry leader in shareholder returns.

Customer Satisfaction - If Only You Knew

2008-12-29T21:42:00.009+07:00

In a down economy when every company you know is holding off on purchasing anything, why would you risk losing current customers because they were not happy and you did not know about it? Upper management in almost every industry is guilty of not implementing a customer satisfaction program that does not require a customer to fill out a form. Most people, even the unhappy ones won't take the time to fill out a form and will just quit or not come back. Larger corporations just don't seem to place the same value on satisfied customers as the smaller company does. Smaller companies have more to lose than larger companies who accept losing customers as part of the business model.

The most effective way to contact a customer and get their feedback is to call them. Hiring an outside company is the best way to ensure that you are getting an impartial survey. It is better to have an unbiased negative report from an independent 3rd party than it is to have someone in that department, or worse, having the sales person report on him or herself. The most important part of the survey report is the comment section.

It is important to find a company that will give you a complete narrative of the conversation. It is much better to have the complete story ahead of time before you pick up the phone to call that unhappy customer and find out the hard way. A report with fixed answers like yes/no, or a multiple choice rating system is great for adding up percentages but does not give you a complete picture. Knowing what your customers are thinking ensures that you have a chance to correct any problems before it is too late.

Customer satisfaction is not all about the negative. Customers will also tell you that they think you are doing a great job and would refer you to anyone. Those are the reports that give you a sense of satisfaction. Either way, you will never know unless you ask.

Brian Groves is the Vice President of Sales for Hot Calls inc. He has over 20 years of experience working in the automotive sector. He is committed to helping businesses (including automotive dealerships) realize the importance of lead generation and the value of customer follow up. His clients include several global fortune 500 companies.

Article Source: http://EzineArticles.com/?expert=Brian_Groves

Make Money With Self Storage Auctions

2008-12-29T21:18:00.005+07:00

Entrepreneurs! Self-Starters! Independent Business Persons! It's time to make some "easy" money with storage units.

Well, OK... maybe it's not so easy all the time, but it's certainly entertaining.

Every year (and especially in bad economic times) regular people fail to make their monthly payments to Self-Storage facilities all across the country. The reasons can be quite varied: divorce, death, and job loss are but a few. But when people do fail to make those payments the clock starts ticking. They are called, and sent formal papers. And ads get placed advising the world that an absolute auction will take place to liquidate (sell) their stuff.

There are auction services that put on 50 or more auctions daily, and almost all of these are completely cash... all sales final. You go to the unit; they open it up; and the auctioneer starts the bidding. You get only less than a minute to "evaluate" the goods. Most times, things are stacked up, boxed up, and generally "difficult" to figure out their true value(s). The bidding may last up to two minutes before you hear SOLD! -then it's on to the next unit.

Bring your cash to the office, and in a few minutes the office is telling you you have 24-48 hrs to remove your treasures. You'll end up paying up to 10% more than the end price as an auctioneer's fee, and you might have to pay sales tax, too. Many bidders bring their enclosed truck or trailers with them, so as to limit transportation expenses.

Now, the dream of every seller is to find hidden guns, cash or jewels in the mix; but it's been my experience that people who have left such nice things generally have the money to pay their rent. What you do find, on a regular basis, are things like spare furniture, X-mas decorations, clothes and almost everything you would see at a flea market or garage sale. And by the way, you'd best value things in your bids accordingly. Stories of bidders "overbidding" are common, but so are the exotic Japanese Sword finds, or the complete set of The Incredible Hulk comics, etc.

You must have a strong stomach, too. Many people use their storage units as a trash dump, with things strewn everywhere. And it's up to the buyer to sweep the unit clean. Don't be surprised to find very, very personal items, too. We've seen artificial limbs, sexual toys, and enough "porn" to start an x-rated store.

What has made us money is furniture. Not all bidders relish the labor required to remove and move whole house-fulls of furniture, but I've found furniture to be a consistent earner. Next are the electric items; lamps, toasters; clock radios seem to go quickly. Almost nobody leaves "real" jewelry. No gold, a little silver, mostly quartz movement watches. Just don't overpay. I haven't seen a "drug dealer's money box" in storage units I've purchased, but then, I wouldn't be telling anybody if I had! Happy bidding!

Jake Earl is a staff writer for http://www.TrueCasinoStories.com

Article Source: http://EzineArticles.com/?expert=Jake_Earl