Today's business scenario showcases very stiff competition. Failure of any business to identify its consumer buying behavior and market segmentation is a disadvantage as far as marketing is concern. And it is suggested that businesses should not rely solely on demographics and economic factors of their customers.
Demographics are favorable in market segmentation but not in all cases that these data alone can explain why a consumer bought the product. Sometimes, it requires for deeper research on psychological and socio-cultural factors to determine the purpose of buying.
It's a fact that any business cannot truly identify what's on the buyer's mind before and after the purchase. And studying the behavioral forces that influences their buying activity is a big help. Whatever marketing move it decided to create must coincide with the information gathered as to the manner of buying frequency of its consumers. Here are some factors that may influence the consumer to buy:
PSYCHOLOGICAL INFLUENCES. These are the driving forces that come from within the consumers' whole being. Most of the time, these are the most prevailing factors as far as decision of buying is concern. It usually covers the following:
* The consumers' perception towards the products and services. This is considering the basic factor because this is the first customer's contact on your offered products and services. Perception can be acquired by consumers using his five senses and marketers must do something special to attract buyers. In this aspect, the need for creative and attractive ads is very essential.
* The consumers' motivation to buy. This psychological factor serves as the driving force that stimulates the consumer to satisfy his needs. As marketer, you must insist something on your products and services that will motivate the consumer to buy. Quality and product features are best means of motivation.
* Learning experiences will also create urge for customers to purchase. Health products that are found to be effective have higher buying rate than products that can cause hazards.
* Personality and attitude of the consumer will dictate what he wants to buy. A party-going person is most likely to buy party dresses and shoes than a book reader.
* Beliefs are also psychological driving forces that can influence consumer buying behavior. Traditional or religious belief like festivals will most likely urge people to buy more food in preparation for a thanksgiving party.
SOCIAL AND CULTURAL INFLUENCES. How we think, believe and act depends on our surroundings and the kind of people we inter-relate. Usually socio-cultural influences consist of these factors:
* The quality of life of your consumers wherein they prefer to buy not more but better products and services. Durability and safety is more of their priority than quantity.
* The changing role in life such as a mother who shifted role from being domestic to a career woman.
* Change in family status such as changes from single to married to separated or changes due to migrating from other country.
* Their desire for convenience wherein consumers are looking for products and services that doesn't require more preparation. Fast food restaurants, 3 in 1 coffee mix and microwavable pre-cooked foods are just some examples that falls under this category.
* The consumers' desire to increase leisure time can also be another cultural influence. A lot of services are being offered in the market to provide comfort and relaxation to working professionals. These services are aimed to help consumers to ease life tension and work stress.
* Impulse buying that is being experienced by some individuals. It is a sudden force being felt by consumer to buy something that they really don't need.
* The changing attitude towards work and pleasure can also contribute effects to the consumer buying behavior. People who are workaholic are less prone to shopping than people who do more pleasure.
* The consumers' family status or social class can also be a factor in the changing consumer buying behavior. People belonging to upper class are more likely to buy leisure products than people who belong to lower class.
Saturday, November 22, 2008
Marketing Research Insights
Marketing research is very essential in every business. As defined, it is the systematic, objective and exhaustive search for and study of the facts relevant to any problem in the field of marketing. Mostly, it tends to stress the gathering of historical data to solve current problems.
A marketing research investigation requires a systematic procedure. Its essence will depend on how it is conducted and how relevant the data will be derived. It starts by defining the objective. In doing a marketing research, the researcher must have a clear picture of what he is trying to accomplish in a research project. That is simply, establishing what is the real goal of the project.
Usually the goals pertains to the objective of solving the problem but there are also cases wherein the main purpose of a research study is to define the problem or to determine whether the company even has a problem. Once the main or general problem is identified, it will be broken-down to causes which will represent the sub-problems or specific problems. With these tentative problem statements, a deeper situation analysis and observation is required. It is tentative because it still needs to be proven by the researcher.
A situation analysis pertains to the analysis of the company, its market, competitors and even the industry in general. To do an analysis, library and online research, interview and observation of the business environment is necessary. Hypothesis will be developed to clear the definition of the problem and it should be subject to further testing. Proving and disapproving hypothesis will lead you to the solution of the problem.
Marketing research investigation can be done by formal and informal method. In formal investigation, gathering of primary and secondary data are necessary. The data gathered directly from the people working within the company and from original files are considered the primary data. While data gathered from other sources not directly related to the firm like libraries, government, trade, professional and business associations, private business firms, advertising agency, media and school research are considered as the secondary data. These kinds of data can be collected by means of surveys, observation and experimentation.
Informal investigation will covers activities such as acquiring company background, historical sales data and even related cases in other companies. Other data relevant to the case coming from outside sources like suppliers, customers, middlemen and competitors can also be used. In most cases, informal investigation will prove that the problem is researchable and economically feasible.
After data analysis, where all information gathered will be tabulated and presented in a report. A conclusion and recommendation will be made. A follow-up on the part of the researcher is advisable to make sure that the results of the marketing research were used by the company. In most cases, this is usually omitted and that causes failure on the side of the company.
Always remember that a marketing research will be essential to the company if done well. And the company will benefit from its results if these will be used strategically.
A marketing research investigation requires a systematic procedure. Its essence will depend on how it is conducted and how relevant the data will be derived. It starts by defining the objective. In doing a marketing research, the researcher must have a clear picture of what he is trying to accomplish in a research project. That is simply, establishing what is the real goal of the project.
Usually the goals pertains to the objective of solving the problem but there are also cases wherein the main purpose of a research study is to define the problem or to determine whether the company even has a problem. Once the main or general problem is identified, it will be broken-down to causes which will represent the sub-problems or specific problems. With these tentative problem statements, a deeper situation analysis and observation is required. It is tentative because it still needs to be proven by the researcher.
A situation analysis pertains to the analysis of the company, its market, competitors and even the industry in general. To do an analysis, library and online research, interview and observation of the business environment is necessary. Hypothesis will be developed to clear the definition of the problem and it should be subject to further testing. Proving and disapproving hypothesis will lead you to the solution of the problem.
Marketing research investigation can be done by formal and informal method. In formal investigation, gathering of primary and secondary data are necessary. The data gathered directly from the people working within the company and from original files are considered the primary data. While data gathered from other sources not directly related to the firm like libraries, government, trade, professional and business associations, private business firms, advertising agency, media and school research are considered as the secondary data. These kinds of data can be collected by means of surveys, observation and experimentation.
Informal investigation will covers activities such as acquiring company background, historical sales data and even related cases in other companies. Other data relevant to the case coming from outside sources like suppliers, customers, middlemen and competitors can also be used. In most cases, informal investigation will prove that the problem is researchable and economically feasible.
After data analysis, where all information gathered will be tabulated and presented in a report. A conclusion and recommendation will be made. A follow-up on the part of the researcher is advisable to make sure that the results of the marketing research were used by the company. In most cases, this is usually omitted and that causes failure on the side of the company.
Always remember that a marketing research will be essential to the company if done well. And the company will benefit from its results if these will be used strategically.
Thursday, November 20, 2008
How do I choose a career?
Choosing the right career is very essential in anyone's life. It is like choosing the right path for half of your life because the other half will be dedicated to your family. A lot of people grew old unsatisfied because they have a failure career. As defined, career refers to an individual's course or progress through life or a distinct portion of life. It should be a personal choice and not of other's choice for you because it is considered as self direction.
Here are some factors to consider in self-assessment of the right career for you:
HAPPINESS. Will you be happy in your work? A lot of people consider this as their basic criteria in choosing a right career for them. A happy working environment will inspire you to attend work regularly and be productive at all times.
SELF-IMAGE. Does the career fit your own choice of self-image? Analyze well if your career will be in line with your goals, dreams and aspirations in life. It must be something to be proud of not only to your friends and family but to yourself.
CAREER DEMANDS. Determine the level of demands or pressures that are associated with the career. Ask yourself if you are into challenges or just looking for a tranquil work experience where there will be no constant demands, deadlines to meet and heavy pressure.
FINANCIAL CONSIDERATION. Career is usually considered to pertain to remunerative work. It is a fact that practically, most people work in order to earn for their living. Financial aspect or amount of compensation in exchange of work done should be given much emphasis in choosing the right career. It should be something that will give you the capacity to buy what you need.
PROMOTION. A career is traditionally seen as a course of successive situations that make up a person's work life. Make sure that the career offers opportunities for promotion. It is normal for any individual to aspire improvement as far as career is concern. Improvement pertains to added power and authority, better compensation package and benefits, and convenient working environment.
TRAVEL CONSIDERATION. There are careers that require traveling from one place to another. Determining the level of travel frequency involved in a career will also determine your level of exposure to the industry.
JOB OR CAREER TRANSPORTABILITY. It pertains to availability of this kind of career in other places in case you move house like for example, teaching, retailing, nursing and personal selling that generally exists in considerable number and in many different locations.
QUALIFICATION NEEDED. Basically, the career should match your qualifications such as your educational attainment, skills, training and working experiences. Having a career that matches your technical know-how is an advantage for it will not only make your work life easy but also gives you the higher chance of being competitive.
SUPPLY AND DEMAND SITUATION. It is also necessary to identify the supply and demand status of the career. Try to determine if there is shortage or overcrowding of labor force for you to know the level of competitiveness.
Here are some factors to consider in self-assessment of the right career for you:
HAPPINESS. Will you be happy in your work? A lot of people consider this as their basic criteria in choosing a right career for them. A happy working environment will inspire you to attend work regularly and be productive at all times.
SELF-IMAGE. Does the career fit your own choice of self-image? Analyze well if your career will be in line with your goals, dreams and aspirations in life. It must be something to be proud of not only to your friends and family but to yourself.
CAREER DEMANDS. Determine the level of demands or pressures that are associated with the career. Ask yourself if you are into challenges or just looking for a tranquil work experience where there will be no constant demands, deadlines to meet and heavy pressure.
FINANCIAL CONSIDERATION. Career is usually considered to pertain to remunerative work. It is a fact that practically, most people work in order to earn for their living. Financial aspect or amount of compensation in exchange of work done should be given much emphasis in choosing the right career. It should be something that will give you the capacity to buy what you need.
PROMOTION. A career is traditionally seen as a course of successive situations that make up a person's work life. Make sure that the career offers opportunities for promotion. It is normal for any individual to aspire improvement as far as career is concern. Improvement pertains to added power and authority, better compensation package and benefits, and convenient working environment.
TRAVEL CONSIDERATION. There are careers that require traveling from one place to another. Determining the level of travel frequency involved in a career will also determine your level of exposure to the industry.
JOB OR CAREER TRANSPORTABILITY. It pertains to availability of this kind of career in other places in case you move house like for example, teaching, retailing, nursing and personal selling that generally exists in considerable number and in many different locations.
QUALIFICATION NEEDED. Basically, the career should match your qualifications such as your educational attainment, skills, training and working experiences. Having a career that matches your technical know-how is an advantage for it will not only make your work life easy but also gives you the higher chance of being competitive.
SUPPLY AND DEMAND SITUATION. It is also necessary to identify the supply and demand status of the career. Try to determine if there is shortage or overcrowding of labor force for you to know the level of competitiveness.
Wednesday, November 19, 2008
Business owners: How to keep your customers?
The key to the success of any business is the loyalty of its customers. Without customers, there will be no business. Companies compete head to head just to win the consumer's attention. Business owners are investing vast amount of time, effort and money just to maintain customer's loyalty. Here are some tips on how to keep your customers:
BE HONEST. As we always say, "honesty is the best policy". Being honest to your customers is a good sign that you are indeed a responsible business owner. Just offer to customers what you can only offer. Avoid promising false product features that do not really exist. False advertising is one example of dishonesty. Customers deserve to receive what they paid for so give it to them.
BE COURTEOUS AND POLITE. Most businesses believe that "customers are always right". It is not proper to argue with customers for it will always be the company who will be on the losing end. Remember courteousness and politeness should always be practiced at all times. Even if you are faced with irate customers, you still need to smile and listen as to what he or she is saying. In case you need to explain, do it in the kindest and humble way. Avoid offending the client; instead try to make him/her feel that you are willing to help.
BE RELIABLE AND ACCURATE. Reliability and accuracy of your answers as to the query of your customers is very essential. Do not give false statement if you really don't know the answer. Instead, just refer him/her to the person who has much knowledge of the issue. But never leave your customers unattended. Make him/her feel of your willingness to help.
ASSURE SAFETY. Either goods or service, safety of the customers must always be your priority. As business owner, you must assure the safety of your clients. As much as you can, keep them away from fraud, scam or dangers by providing them information or reminders.
PROVIDE POST SERVICE. Most businesses failed to consider these criteria. There are customers who would go back or call to your store or company not to buy but to ask for assistance as to the product they have purchased. Attending to these needs of your customers is favorable and will encourage them to do another transaction with you or if not, refer others to your company.
FAST SERVICE. Always remember that your customers need to be attended immediately. It is common to most clients to be impatient and non-tolerant to longer queuing time. This is the most reason why customers were forced to look for other seller or other company. Giving them fast but accurate service will give you a lead for competitive edge as far as quality service is concerned.
PROVIDE THEM INTANGIBLE SERVICES. These are the services that are not much given attention but create deeper impact to the impression of the customers towards the company. It is just proper for you to provide these in order to please your clients and be assured of their repeat transactions. Examples of these services are well ventilated place, proper lights, availability of clean comfort rooms, availability of shopping carts or baskets for grocery or supermarket business, availability of tissue paper, toothpicks, clean drinking water for restaurants, etc.
BE HONEST. As we always say, "honesty is the best policy". Being honest to your customers is a good sign that you are indeed a responsible business owner. Just offer to customers what you can only offer. Avoid promising false product features that do not really exist. False advertising is one example of dishonesty. Customers deserve to receive what they paid for so give it to them.
BE COURTEOUS AND POLITE. Most businesses believe that "customers are always right". It is not proper to argue with customers for it will always be the company who will be on the losing end. Remember courteousness and politeness should always be practiced at all times. Even if you are faced with irate customers, you still need to smile and listen as to what he or she is saying. In case you need to explain, do it in the kindest and humble way. Avoid offending the client; instead try to make him/her feel that you are willing to help.
BE RELIABLE AND ACCURATE. Reliability and accuracy of your answers as to the query of your customers is very essential. Do not give false statement if you really don't know the answer. Instead, just refer him/her to the person who has much knowledge of the issue. But never leave your customers unattended. Make him/her feel of your willingness to help.
ASSURE SAFETY. Either goods or service, safety of the customers must always be your priority. As business owner, you must assure the safety of your clients. As much as you can, keep them away from fraud, scam or dangers by providing them information or reminders.
PROVIDE POST SERVICE. Most businesses failed to consider these criteria. There are customers who would go back or call to your store or company not to buy but to ask for assistance as to the product they have purchased. Attending to these needs of your customers is favorable and will encourage them to do another transaction with you or if not, refer others to your company.
FAST SERVICE. Always remember that your customers need to be attended immediately. It is common to most clients to be impatient and non-tolerant to longer queuing time. This is the most reason why customers were forced to look for other seller or other company. Giving them fast but accurate service will give you a lead for competitive edge as far as quality service is concerned.
PROVIDE THEM INTANGIBLE SERVICES. These are the services that are not much given attention but create deeper impact to the impression of the customers towards the company. It is just proper for you to provide these in order to please your clients and be assured of their repeat transactions. Examples of these services are well ventilated place, proper lights, availability of clean comfort rooms, availability of shopping carts or baskets for grocery or supermarket business, availability of tissue paper, toothpicks, clean drinking water for restaurants, etc.
How to improve your net profit?
In layman's terms, net profit refers to what is left to you after deducting expenses from your sales. In every business, concern is much given emphasis on net profit. Mainly because getting a negative net profit is as good as closing down your business. In these times of economic recession, net profit should be improved positively in order to survive within the industry.
A lot of studies were made as to how to increase company's net profit and results shows that there are several factors that require focus. An increasing gross income is not an assurance of improvement in the net profit. Here are some key pointers on how to improve your net profit.
COST REDUCTION. This is the most common practice and important variable why our net profit is increasing and decreasing. Gross income less total cost will be equal to net profit. So even if you increase the gross income if your total cost also increases, it will result to a decreasing net profit. But if you maintain your gross income and minimize your total cost, then net profit will surely increase.
Analyze all possible cost-contributing factors within your company and make a plan on how to reduce these costs if not eliminated. It is favorable if you start from the less important factors down to the most essential. Just make sure that whatever cost reduction scheme you'll have will not jeopardize the quality of products and services your business is offering.
MAXIMIZE UTILIZATION OF YOUR RESOURCES. Analyze each product line and/or services being offered by your business. Give particulars as to their respective rate of return. Analyze if possible reduction or total elimination can be made to those product lines and/or services that are not resulting to high returns. Think of possible much better substitute. Catering a certain product line and/or service that doesn't give you much return can be considered a burden as far as cost is concern. Better get rid of it and replace by something better.
IMPROVE GROSS REVENUE. Come-up with possible marketing strategies on how to improve your gross revenues. Increasing your sales volume without increasing cost will positively result to higher net profits. Rendering quality service is one key secret on how to attract more customers.
ANALYZE YOUR PRICE MARGIN. Check pricing if it is still appropriate. Nowadays, almost all products prices were increasing due to high prices of raw materials and transportation expenses. Although this move is considered the last option due to its negative effects to customers, it is still advisable if you do some checking on your price margin. Sometimes, it requires us to increase price margin in order to cope-up with increasing cost.
A lot of studies were made as to how to increase company's net profit and results shows that there are several factors that require focus. An increasing gross income is not an assurance of improvement in the net profit. Here are some key pointers on how to improve your net profit.
COST REDUCTION. This is the most common practice and important variable why our net profit is increasing and decreasing. Gross income less total cost will be equal to net profit. So even if you increase the gross income if your total cost also increases, it will result to a decreasing net profit. But if you maintain your gross income and minimize your total cost, then net profit will surely increase.
Analyze all possible cost-contributing factors within your company and make a plan on how to reduce these costs if not eliminated. It is favorable if you start from the less important factors down to the most essential. Just make sure that whatever cost reduction scheme you'll have will not jeopardize the quality of products and services your business is offering.
MAXIMIZE UTILIZATION OF YOUR RESOURCES. Analyze each product line and/or services being offered by your business. Give particulars as to their respective rate of return. Analyze if possible reduction or total elimination can be made to those product lines and/or services that are not resulting to high returns. Think of possible much better substitute. Catering a certain product line and/or service that doesn't give you much return can be considered a burden as far as cost is concern. Better get rid of it and replace by something better.
IMPROVE GROSS REVENUE. Come-up with possible marketing strategies on how to improve your gross revenues. Increasing your sales volume without increasing cost will positively result to higher net profits. Rendering quality service is one key secret on how to attract more customers.
ANALYZE YOUR PRICE MARGIN. Check pricing if it is still appropriate. Nowadays, almost all products prices were increasing due to high prices of raw materials and transportation expenses. Although this move is considered the last option due to its negative effects to customers, it is still advisable if you do some checking on your price margin. Sometimes, it requires us to increase price margin in order to cope-up with increasing cost.
Why you should study to be an engineer?
Before, every time I heard the word "engineer," the first thing that came to mind is someone who is knowledgeable in Mathematics. But now, I realize it was more than that for I am indeed an engineer. Engineering, as defined in Wikipedia, is the discipline and profession of applying technical and scientific knowledge and utilizing natural laws and physical resources in order to design and implement materials, structures, machines, devices, systems, and processes that safely realize a desired objective and meet specified criteria. It is a course more commonly acquired by men than by women. And it is considered one of the oldest professions, even during the times of early man on earth.
Being one of the most in-demand jobs nowadays, an engineer always goes along with our technology, because an engineer is a builder, a designer, a planner, an inventor, and a processor. Aside from the fact that pursuing an engineering course requires you to be proficient in Mathematics and Science, there are still other factors to consider why someone should study to be an engineer. Here are some of the reasons:
INTEREST. The most essential factor before taking up any course is your line of interest. An engineering course is full of technical studies and requires your full dedication and genuine interest to learn the concept and theories involved. It doesn't only involve pure theory, but a need for you to render actual application.
IMAGINATIVE AND CREATIVE. Engineering courses are not all about Mathematics and Science. They also require your imagination and creativeness in coming up with possible solutions to some technical problems. Your built-in creativity will also be very useful in the application of technical drawings and planning.
CONTINUOUS LEARNING. Our recent upgrade in technology is credited to engineers. Transitions of our life styles from one generation to another are all products of intellectual concept of engineers. For being an engineer requires you to continue learning, inventing and developing systems, devices, processes, structures, materials and machineries to come-up with the newest technology that will make people's life easy and convenient.
RESPONSIBLE. Social responsibility is one crucial thing that an engineer must consider. The safety of the public is always taken into consideration in every design and plans being created. In coming up with new inventions, it is not all about beauty and appearance but more on durability and safety.
GIFTED WITH SKILLS. There are varieties of skills needed to be a successful engineer. These skills such as analytical skills, problem solving skills, and communication skills will increase the ability of an engineer to come up with smart decisions and solve complex problems.
And last but not least, the best reason you should study to be an engineer is because you wanted to be one. Your serious determination to complete the course and desire to excel in your field of specialization will push you to success no matter if you are a man or a woman.
Being one of the most in-demand jobs nowadays, an engineer always goes along with our technology, because an engineer is a builder, a designer, a planner, an inventor, and a processor. Aside from the fact that pursuing an engineering course requires you to be proficient in Mathematics and Science, there are still other factors to consider why someone should study to be an engineer. Here are some of the reasons:
INTEREST. The most essential factor before taking up any course is your line of interest. An engineering course is full of technical studies and requires your full dedication and genuine interest to learn the concept and theories involved. It doesn't only involve pure theory, but a need for you to render actual application.
IMAGINATIVE AND CREATIVE. Engineering courses are not all about Mathematics and Science. They also require your imagination and creativeness in coming up with possible solutions to some technical problems. Your built-in creativity will also be very useful in the application of technical drawings and planning.
CONTINUOUS LEARNING. Our recent upgrade in technology is credited to engineers. Transitions of our life styles from one generation to another are all products of intellectual concept of engineers. For being an engineer requires you to continue learning, inventing and developing systems, devices, processes, structures, materials and machineries to come-up with the newest technology that will make people's life easy and convenient.
RESPONSIBLE. Social responsibility is one crucial thing that an engineer must consider. The safety of the public is always taken into consideration in every design and plans being created. In coming up with new inventions, it is not all about beauty and appearance but more on durability and safety.
GIFTED WITH SKILLS. There are varieties of skills needed to be a successful engineer. These skills such as analytical skills, problem solving skills, and communication skills will increase the ability of an engineer to come up with smart decisions and solve complex problems.
And last but not least, the best reason you should study to be an engineer is because you wanted to be one. Your serious determination to complete the course and desire to excel in your field of specialization will push you to success no matter if you are a man or a woman.
Saturday, November 8, 2008
Should tobacco advertising be permitted?
It is a common knowledge that tobacco or cigarette smoking is dangerous for our health not only for smokers but for non-smokers too who can directly inhaled the smoke from the smoker. The WHO - World Health Organization continuously campaigning to the public that cigarette smoking is dangerous to our health and each stick of cigarette you smoke surely reduces your life span.
Tobacco business industry is earning billions and billions of money from every smoker all over the world. And yet they never care about those people who are suffering from lung diseases or those who died because of lung cancer derived from smoking. Although as being protested by others, there is freedom of choice for every individual and that each person who is 18 years old and above is responsible to his own decision of either to smoke or not to smoke.
I've conducted a survey before, some reasons why people smoke is because it can relieve stress and help them to relax particularly on busy times. Some answered, it is sort of a habit that is hard to break or stop. Others wanted to smoke because they wanted to be the same with their friends who are also smokers. And there are also some who started smoking just simply out of curiosity and before they knew it, they are hooked to smoking. But even if smoking seems to be an advantage for others, its disadvantages is still more crucial because it can kill life.
When you advertise particularly for public viewing, it is required that companies should practice responsible advertising. We cannot fully control the type of viewers. Even small kids can possibly see the advertisement. Awareness campaign is so strong that it can create and add information even to a younger mind. Therefore giving them the thought that smoking is really a nice thing to do in spite of the warning being given by health department.
Let's just hope that those who are responsible for this tobacco advertisement will find it in their heart that they are not actually helping any people. Having a business like tobacco business can really earn you lots of money but can also add lots of worries in your conscience. It will be much better if instead of producing killer tobacco, try to come up with other alternative that is not harmful to anyone's health.
Always remember that there is no amount of money that can buy life. Whatever effects that tobacco advertisement can do to other people can also possibly be done to your very own family.
Tobacco business industry is earning billions and billions of money from every smoker all over the world. And yet they never care about those people who are suffering from lung diseases or those who died because of lung cancer derived from smoking. Although as being protested by others, there is freedom of choice for every individual and that each person who is 18 years old and above is responsible to his own decision of either to smoke or not to smoke.
I've conducted a survey before, some reasons why people smoke is because it can relieve stress and help them to relax particularly on busy times. Some answered, it is sort of a habit that is hard to break or stop. Others wanted to smoke because they wanted to be the same with their friends who are also smokers. And there are also some who started smoking just simply out of curiosity and before they knew it, they are hooked to smoking. But even if smoking seems to be an advantage for others, its disadvantages is still more crucial because it can kill life.
When you advertise particularly for public viewing, it is required that companies should practice responsible advertising. We cannot fully control the type of viewers. Even small kids can possibly see the advertisement. Awareness campaign is so strong that it can create and add information even to a younger mind. Therefore giving them the thought that smoking is really a nice thing to do in spite of the warning being given by health department.
Let's just hope that those who are responsible for this tobacco advertisement will find it in their heart that they are not actually helping any people. Having a business like tobacco business can really earn you lots of money but can also add lots of worries in your conscience. It will be much better if instead of producing killer tobacco, try to come up with other alternative that is not harmful to anyone's health.
Always remember that there is no amount of money that can buy life. Whatever effects that tobacco advertisement can do to other people can also possibly be done to your very own family.
Raising business capital in challenging times
This is the age of technology. Resist it and you are dead. With our current economic climate, most businesses are into dilemma of how to improve more their offered goods and services. In other words, business industry is evolving into a highly capital intensive and complicated industry.
To gain competitive edge over competitors, it needs to invest more capital. Big players capture large market share and small player only get the remaining piece of pie. With larger capital investment, a firm has the capacity to make innovations, adopt modern technology and come-up with full-blast marketing. Such huge capital is unavoidable for growth and how will it affect the name of the game for small companies? What if a firm only has limited capital? Does it still have the chance to cope-up with the tight competition? My answer is definitely YES!
Everyone in the business industry have chances of competing equally. It is just a matter of how much a firm is willing to invest in order to adopt innovations. But most businesses especially small players have difficulty of raising capital. Applying for a loan is the most common practice but considering high interest rates, a firm will ended up with much bigger liabilities. Are there more ways on how to raise capital funds except for a loan application? Yes, there is. Instead of a loan, a firm can try to venture into other fast-liquidated business lines.
I am a small entrepreneur running a small internet shop in our town. With the presence of various big internet cafes nearby, it is impossible for me to capture a bigger share of the market for I can't even afford to buy additional equipments to improve our services. I also don't want to engage into loans for I'm sure, with high interest rates, it will only give me difficulty of paying back. So what I did is utilized all my possible resources in order to raise capital. Aside from the internet cafe, I resorted to introduce other business line that will easily give me a fast returns like selling cigarettes and candies. The income I earned from these was used as additional capital in my main business. I resorted in offering complimentary service. I bought a printer and started to offer printing services. I also tried investing on prepaid loads and electronics loads for cell phones. Starting with very minimal capital, I was able to manage well my investment cycle until it grows bigger. The money I am earning from this loading business is again used as new capital in my internet cafe.
Other options were also used in order to raise capital, I sold my photocopier machine because based on records, it doesn't give me much earnings. The money I gained from selling it was used to purchase additional computer. Using all these strategies, I was able to raise capital that made my internet cafe as one of the most well-known shop in our town not to mention that I was able to increase my market share therefore resulting to better revenue. And I am now not only offering internet and computer services but my shop is also considered as a loading station and a variety shop.
Let me summarize all the strategies I did just to raise capital. First, I venture to other small business that requires only little capital but it will surely give me fast returns. Second, I offered complimentary services sort of a business extension related to the nature of my business that will also generate fast return of investment. Third, I get rid of my other business services that is not doing well in terms of revenue. This is the fastest way to raise capital which I used for much profitable business. Fourth, I utilized all my possible resources like shop space, my business capabilities and my equipments. Maximization of capital resources can be very helpful in generating additional funds. Fifth, I tried all my best to cut unwanted cost but without sacrificing quality of service. Whatever earnings we can save can be used again as additional capital. And last but most important, full determination and business focus is highly needed. As in all business transactions, customer satisfaction rules, for they are to be given the central focus.
Isn't that simple? Definitely yes! And all these simple strategies made it possible for my internet shop to raise capital which I used to gain competitive edge in this very challenging business industry.
To gain competitive edge over competitors, it needs to invest more capital. Big players capture large market share and small player only get the remaining piece of pie. With larger capital investment, a firm has the capacity to make innovations, adopt modern technology and come-up with full-blast marketing. Such huge capital is unavoidable for growth and how will it affect the name of the game for small companies? What if a firm only has limited capital? Does it still have the chance to cope-up with the tight competition? My answer is definitely YES!
Everyone in the business industry have chances of competing equally. It is just a matter of how much a firm is willing to invest in order to adopt innovations. But most businesses especially small players have difficulty of raising capital. Applying for a loan is the most common practice but considering high interest rates, a firm will ended up with much bigger liabilities. Are there more ways on how to raise capital funds except for a loan application? Yes, there is. Instead of a loan, a firm can try to venture into other fast-liquidated business lines.
I am a small entrepreneur running a small internet shop in our town. With the presence of various big internet cafes nearby, it is impossible for me to capture a bigger share of the market for I can't even afford to buy additional equipments to improve our services. I also don't want to engage into loans for I'm sure, with high interest rates, it will only give me difficulty of paying back. So what I did is utilized all my possible resources in order to raise capital. Aside from the internet cafe, I resorted to introduce other business line that will easily give me a fast returns like selling cigarettes and candies. The income I earned from these was used as additional capital in my main business. I resorted in offering complimentary service. I bought a printer and started to offer printing services. I also tried investing on prepaid loads and electronics loads for cell phones. Starting with very minimal capital, I was able to manage well my investment cycle until it grows bigger. The money I am earning from this loading business is again used as new capital in my internet cafe.
Other options were also used in order to raise capital, I sold my photocopier machine because based on records, it doesn't give me much earnings. The money I gained from selling it was used to purchase additional computer. Using all these strategies, I was able to raise capital that made my internet cafe as one of the most well-known shop in our town not to mention that I was able to increase my market share therefore resulting to better revenue. And I am now not only offering internet and computer services but my shop is also considered as a loading station and a variety shop.
Let me summarize all the strategies I did just to raise capital. First, I venture to other small business that requires only little capital but it will surely give me fast returns. Second, I offered complimentary services sort of a business extension related to the nature of my business that will also generate fast return of investment. Third, I get rid of my other business services that is not doing well in terms of revenue. This is the fastest way to raise capital which I used for much profitable business. Fourth, I utilized all my possible resources like shop space, my business capabilities and my equipments. Maximization of capital resources can be very helpful in generating additional funds. Fifth, I tried all my best to cut unwanted cost but without sacrificing quality of service. Whatever earnings we can save can be used again as additional capital. And last but most important, full determination and business focus is highly needed. As in all business transactions, customer satisfaction rules, for they are to be given the central focus.
Isn't that simple? Definitely yes! And all these simple strategies made it possible for my internet shop to raise capital which I used to gain competitive edge in this very challenging business industry.
Marketing in rough economic times
Economic downturns can be felt not only by third-world countries but also of big countries in America and Europe. This downtime turnover of events affects greatly the consumers buying decisions and lifestyles. With the decreasing value of their currencies and increasing prices of commodities and services, consumers tends to practice practical buying and set-aside impulsive shopping.
Life survival is their prime objective- to be able to provide basic necessities to their family. And with this sudden trend of buying decision, business owners are starting to go panic on how to re-structure their businesses in order to cope-up with what the buying public needs. Marketing department is being bombarded by the top management to come-up with great ideas on how to maintain market share in their respective industries in spite of decreasing buying capacities of consumers.
There are lots of marketing strategies available online and on textbooks, but the big question here is which among these marketing strategies sounds applicable in this very abnormal setting of marketplace. Even if the company is willing to spend millions of money for a marketing program that will promote and persuade buyers to continue patronizing their goods and service, it is still no guarantee that it can also generate the same rate of returns. Not to mention that companies are also cautious of cost-cutting schemes for them to survive the economic downtime.
With today's economic instability, consumers want more in exchange of little money. This scenario brought dilemma to businesses on how can they maintain their market share without adding more cost to their budget.
Here are some practical marketing practices that can be adopted at very lowest budget. Two key goals are given focus - the awareness and persuasion. In the awareness campaign, familiarization of your clients is very essential. You must know your clients and your clients must know you too. Proper recording and filing of consumers' demographics plays an important role here. In these times' of crisis, firms cannot afford extravagant branch opening party or ceremonies nor festive motorcade or sponsorship. The word-of-mouth strategy in creating awareness to the buying public is one best strategy to adopt. Quality of service is our key to make our strategy works. Making the client satisfied with our quality of service, he/she will surely tell it to a family member or a friend about it. Before you knew it, you already have multiple consumers patronizing your goods and services.
Telemarketing is also another feasible strategy. With the aid of telephones and computers, you can be able to promote your company using your communication skills as capital. Courtesy and politeness are the key factors to it. Contacting at least 10 people in a day won't generate much cost but it can possibly result to potential clients. House to house leafleting drive is another marketing strategy. It may take more time and effort to do this but it is a guaranteed effective way to create awareness.
Persuading your customers to do repeat order can easily be done by delivery of total quality service. Delighting your clients doesn't need tangible items; it can be done even with intangibles. The touch point approach is best to adopt here wherein you will treat your customer as if he/she is a member of your family and it will surely create a positive impact on your business. But the most important strategy is to have a friendly attitude towards your customers. It won't cost you any single penny but it will surely generate your business a competitive edge.
Life survival is their prime objective- to be able to provide basic necessities to their family. And with this sudden trend of buying decision, business owners are starting to go panic on how to re-structure their businesses in order to cope-up with what the buying public needs. Marketing department is being bombarded by the top management to come-up with great ideas on how to maintain market share in their respective industries in spite of decreasing buying capacities of consumers.
There are lots of marketing strategies available online and on textbooks, but the big question here is which among these marketing strategies sounds applicable in this very abnormal setting of marketplace. Even if the company is willing to spend millions of money for a marketing program that will promote and persuade buyers to continue patronizing their goods and service, it is still no guarantee that it can also generate the same rate of returns. Not to mention that companies are also cautious of cost-cutting schemes for them to survive the economic downtime.
With today's economic instability, consumers want more in exchange of little money. This scenario brought dilemma to businesses on how can they maintain their market share without adding more cost to their budget.
Here are some practical marketing practices that can be adopted at very lowest budget. Two key goals are given focus - the awareness and persuasion. In the awareness campaign, familiarization of your clients is very essential. You must know your clients and your clients must know you too. Proper recording and filing of consumers' demographics plays an important role here. In these times' of crisis, firms cannot afford extravagant branch opening party or ceremonies nor festive motorcade or sponsorship. The word-of-mouth strategy in creating awareness to the buying public is one best strategy to adopt. Quality of service is our key to make our strategy works. Making the client satisfied with our quality of service, he/she will surely tell it to a family member or a friend about it. Before you knew it, you already have multiple consumers patronizing your goods and services.
Telemarketing is also another feasible strategy. With the aid of telephones and computers, you can be able to promote your company using your communication skills as capital. Courtesy and politeness are the key factors to it. Contacting at least 10 people in a day won't generate much cost but it can possibly result to potential clients. House to house leafleting drive is another marketing strategy. It may take more time and effort to do this but it is a guaranteed effective way to create awareness.
Persuading your customers to do repeat order can easily be done by delivery of total quality service. Delighting your clients doesn't need tangible items; it can be done even with intangibles. The touch point approach is best to adopt here wherein you will treat your customer as if he/she is a member of your family and it will surely create a positive impact on your business. But the most important strategy is to have a friendly attitude towards your customers. It won't cost you any single penny but it will surely generate your business a competitive edge.
How to survive shift work?
Having a good night sleep is very essential to our health. But sometimes, people find it difficult to acquire a complete eight hours of sleep because of time adjustment in work. Most employees prefer to work on daytime than on night time. The dilemma of having shift work is rampant nowadays particularly in the existence of companies engaging to a round-the-clock business operation.
Working on a shift work becomes more difficult specifically if assigned on a night shift. A lot of adjustments should be done not only physically but also socially. Sudden change on your sleeping schedules is one primary disadvantage of working on a shift schedule. Normally, we sleep during night time and find it hard to revert to day time. Others consider working at night time as unexciting due to less people and non-presence of social activities like parties, going to malls and bar hopping.
But there are also people who appreciate working on night shifts for they can experience a quieter atmosphere thereby focus on work can be given much emphasis. They also consider minimal road traffic as an advantage for it also minimizes the causes of mind stress. But how can someone new to the scheme survive shift work? Here are some important tips to consider when working on a shift schedule:
Eat healthy meals and take vitamins.
This is the secret of staying active all the time. A person basically needs complete and healthy meal to have enough strength and energy to keep going even at night. Taking vitamins will also give you extra energy and strong resistance from illness.
Have a complete sleep.
Either daytime or night time, a person needs to have at least 8 hours of sleep to obtain complete body rest. Mind setting is what a person needs to get use of the changes in sleep patterns. It is also recommended to advice your housemates not to disturb you whenever you are sleeping. Phone calls can be switched to automatic answering or better switch your device to silent mode. Make sure also to use dark curtains for your bedroom to avoid sunlight that can ruin your sleep. Make also yourself at ease by choosing a cool place to sleep and wear something comfortable for added convenience.
Avoid regrets.
Always be positive in terms of your new work schedule. Think of the advantages it can give to you and avoid regrets of not having night life for it will only add stress to yourself.
Make a friendly working atmosphere.
Try to make new friends with your work colleagues. It is nice working on new shift schedule if shared with a team. You can still have normal social life even on shift schedules if you and your work team are friends. Having coffee together is surely a pleasurable bonding time. Always remember that our mind dictates our body. If we can make our body condition normal, then doing night work will be as usual as doing a daytime work.
Working on a shift work becomes more difficult specifically if assigned on a night shift. A lot of adjustments should be done not only physically but also socially. Sudden change on your sleeping schedules is one primary disadvantage of working on a shift schedule. Normally, we sleep during night time and find it hard to revert to day time. Others consider working at night time as unexciting due to less people and non-presence of social activities like parties, going to malls and bar hopping.
But there are also people who appreciate working on night shifts for they can experience a quieter atmosphere thereby focus on work can be given much emphasis. They also consider minimal road traffic as an advantage for it also minimizes the causes of mind stress. But how can someone new to the scheme survive shift work? Here are some important tips to consider when working on a shift schedule:
Eat healthy meals and take vitamins.
This is the secret of staying active all the time. A person basically needs complete and healthy meal to have enough strength and energy to keep going even at night. Taking vitamins will also give you extra energy and strong resistance from illness.
Have a complete sleep.
Either daytime or night time, a person needs to have at least 8 hours of sleep to obtain complete body rest. Mind setting is what a person needs to get use of the changes in sleep patterns. It is also recommended to advice your housemates not to disturb you whenever you are sleeping. Phone calls can be switched to automatic answering or better switch your device to silent mode. Make sure also to use dark curtains for your bedroom to avoid sunlight that can ruin your sleep. Make also yourself at ease by choosing a cool place to sleep and wear something comfortable for added convenience.
Avoid regrets.
Always be positive in terms of your new work schedule. Think of the advantages it can give to you and avoid regrets of not having night life for it will only add stress to yourself.
Make a friendly working atmosphere.
Try to make new friends with your work colleagues. It is nice working on new shift schedule if shared with a team. You can still have normal social life even on shift schedules if you and your work team are friends. Having coffee together is surely a pleasurable bonding time. Always remember that our mind dictates our body. If we can make our body condition normal, then doing night work will be as usual as doing a daytime work.
How to build a more meaningful career?
Building a meaningful career will start from defining what's meaningful for you. Career that gives you high salary or career that gives you power and authority? Does receiving high compensation means meaningful to you? Or just simply making your career enjoyable is what gives more impact onto your life?
One's life will exist only once and you should make it worth living. Our career is our chosen life. Whatever can make us satisfied and happy can already be considered meaningful. There are high ranking executives all over the world that are being compensated from six to seven figures amount of money. Something that can give them enough capacity to buy what they want and yet, deep inside their heart, they feel empty.
For me, meaningful career is something that will give you satisfaction. Although from Maslow's Hierarchy of Needs, he stated that nothing can satisfy man. But the main fact that you're happy and contented with your career is something that can be considered meaningful, something that you can be proud of. Here are some basic elements you can consider in building a meaningful career:
ENJOYABLE. A meaningful career is an enjoyable career. Each accomplishment can bring joy and satisfaction to your heart and to the people you are dealing with. Careers that will make you live a normal life with less worries and stress is a meaningful one.
FAME AND POWER. A career that is famous and gives you power can also be considered meaningful. But fame doesn't only refer to popularity just like celebrities. Instead, fame refers to what you have accomplished that leave a positive mark in the lives of other people. Power doesn't only refer to your authority to decide but the power that will give you the capacity to make your life easy.
WELL COMPENSATED. Monetary values serves as a motivator to all people. We choose to have good career basically to give us enough earnings to sustain our basic needs. Having a meaningful career can be associated to a well compensated career.
FULL KNOWLEDGE AND SKILL UTILIZATION. Sometimes people kept on aiming for more in terms of their career because they wanted to prove more as far as knowledge and skills are concern. Having a career that can't fully utilize all your capabilities will leave you hanging questions of "what ifs". Curiosity will start and you will begin to feel emptiness. Having a career that will challenge your full intellectual capacity and skills can be a meaningful career.
LINE OF INTEREST. This is a basic element of a meaningful career. Something that will give you the chance to align your interest and will motivate you to continue moving.
One's life will exist only once and you should make it worth living. Our career is our chosen life. Whatever can make us satisfied and happy can already be considered meaningful. There are high ranking executives all over the world that are being compensated from six to seven figures amount of money. Something that can give them enough capacity to buy what they want and yet, deep inside their heart, they feel empty.
For me, meaningful career is something that will give you satisfaction. Although from Maslow's Hierarchy of Needs, he stated that nothing can satisfy man. But the main fact that you're happy and contented with your career is something that can be considered meaningful, something that you can be proud of. Here are some basic elements you can consider in building a meaningful career:
ENJOYABLE. A meaningful career is an enjoyable career. Each accomplishment can bring joy and satisfaction to your heart and to the people you are dealing with. Careers that will make you live a normal life with less worries and stress is a meaningful one.
FAME AND POWER. A career that is famous and gives you power can also be considered meaningful. But fame doesn't only refer to popularity just like celebrities. Instead, fame refers to what you have accomplished that leave a positive mark in the lives of other people. Power doesn't only refer to your authority to decide but the power that will give you the capacity to make your life easy.
WELL COMPENSATED. Monetary values serves as a motivator to all people. We choose to have good career basically to give us enough earnings to sustain our basic needs. Having a meaningful career can be associated to a well compensated career.
FULL KNOWLEDGE AND SKILL UTILIZATION. Sometimes people kept on aiming for more in terms of their career because they wanted to prove more as far as knowledge and skills are concern. Having a career that can't fully utilize all your capabilities will leave you hanging questions of "what ifs". Curiosity will start and you will begin to feel emptiness. Having a career that will challenge your full intellectual capacity and skills can be a meaningful career.
LINE OF INTEREST. This is a basic element of a meaningful career. Something that will give you the chance to align your interest and will motivate you to continue moving.
HOW TO START YOUR OWN BUSINESS?
Have you ever felt being bored at work and thought of being yourself as the boss? It is such a nice feeling of waking up in the morning without hurrying up to beat the 7 or 8 o'clock start of job. Being a boss of your own will give you no deadline to meet, no worry of receiving a reprimand memo and no quota that can result to work stress.
Starting your own business is such a crucial decision to make. A feasibility study needs to be conducted in order to be assured that it will give you a sure profit and not a total loss. Certain factors are needed to consider before coming up with the decision of building your own business. Here is the list:
CAPITAL and RETURN. This is the most important for without it, no business will start. The amount of capital you're willing to invest and the source of that capital are the most critical questions that need an answer. You also have to determine either your capital capacity is intended for large, medium or small scale business. And in case of expansion, do you have available extra capital to re-invest? Businessmen must also take into consideration the rate of return for a certain amount of invested capital. Large capital investment should give you large returns, enough to cover your operational expenses and more than what the bank offers in terms of deposits.
NATURE OF BUSINESS. What type of business you want to engage with? A lot of businesses are into the marketplace nowadays from as simple as selling candies and cigarettes to complex one like manufacturing or technical service business. Choose the one which matched your knowledge and skills. It is better to start a business that you know than doing business that you're not familiar with.
TARGET MARKET. To whom will you cater your business? What will be the demographics of your potential markets? How much market share do you wish to capture? Remember in business, big players capture most of the market share and only few portions will be left to small players. But as a beginner, better start focusing on a small market share and then, gradually increase it as your business started to grow.
BUSINESS LOCATION. Most businessmen don't give much importance on the location of their business. Choosing the best location of your business will help you in capturing your target market. A lot of businesses failed because they are not located strategically. Accessibility and safety are two most essential factors to consider in choosing for the right business location.
Other business elements such as manpower, equipments, materials, marketing, strategies, etc. will follow after you have established and started the business.
Starting your own business is such a crucial decision to make. A feasibility study needs to be conducted in order to be assured that it will give you a sure profit and not a total loss. Certain factors are needed to consider before coming up with the decision of building your own business. Here is the list:
CAPITAL and RETURN. This is the most important for without it, no business will start. The amount of capital you're willing to invest and the source of that capital are the most critical questions that need an answer. You also have to determine either your capital capacity is intended for large, medium or small scale business. And in case of expansion, do you have available extra capital to re-invest? Businessmen must also take into consideration the rate of return for a certain amount of invested capital. Large capital investment should give you large returns, enough to cover your operational expenses and more than what the bank offers in terms of deposits.
NATURE OF BUSINESS. What type of business you want to engage with? A lot of businesses are into the marketplace nowadays from as simple as selling candies and cigarettes to complex one like manufacturing or technical service business. Choose the one which matched your knowledge and skills. It is better to start a business that you know than doing business that you're not familiar with.
TARGET MARKET. To whom will you cater your business? What will be the demographics of your potential markets? How much market share do you wish to capture? Remember in business, big players capture most of the market share and only few portions will be left to small players. But as a beginner, better start focusing on a small market share and then, gradually increase it as your business started to grow.
BUSINESS LOCATION. Most businessmen don't give much importance on the location of their business. Choosing the best location of your business will help you in capturing your target market. A lot of businesses failed because they are not located strategically. Accessibility and safety are two most essential factors to consider in choosing for the right business location.
Other business elements such as manpower, equipments, materials, marketing, strategies, etc. will follow after you have established and started the business.
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