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Six Rules for Increasing Revenue and Profits
http://www.marketingcrossing.com/article/index....
clipped by suzip Apr 09, 2008
executives increasing revenue senior-level strength sustainableNotes by suzip: Here are six steps which Senior-Level Executives follow for Increasing Revenue of the company by developing deep Sustainable Strength.
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Six Rules for Increasing Revenue and Profits
By Wes Ball
Too much of American business is focused on cost management, the Achilles heel of American industry. What most businesspeople have failed to realize, however, is that almost any company has the potential to geometrically increase its revenue stream and profitability. Moreover, studies of how “Alpha companies” come to dominate a product category or industry prove that you don’t have to be the dominant company in your category to benefit from the Alpha model. Almost any company of any size can create dramatic, sustainable growth — usually in a year or less — by following the same strategies and rules that Alpha companies employ.
Here are six rules that CEOs, senior-level executives, executives at second- and third-tier companies, and owners of smaller businesses can apply to become — or at least act like — an Alpha company and navigate past the cost-management trap to revenue-side management.
Wes Ball
Rule #1: Functionally satisfy at least the minimum; emotionally satisfy the maximum. If functional-needs satisfaction were the true differentiator of top brands and survival brands, Coke would not be an Alpha — Pepsi clearly proved that it was preferred in blind taste tests. To work toward becoming an Alpha, you must meet at least minimum functional needs and provide higher levels of satisfaction and significance than your competitors. You must make customers feel smart, appreciated, more attractive, more respected, and/or more fulfilled.
Rule #2: Don’t compete on price. Alpha companies don’t gain or maintain their Alpha status based on price alone. In fact, they compete less on price than their competitors do. Don’t get confused about the importance of price. Price is the final value judgment customers make — it is the conclusion they create based on weighing all of the benefits a product or brand seems to offer.
Rule #3: Drive expectations. You must differentiate your brand not by what it does, but by what it makes customers want. If your company can satisfy those things better than anyone else and at a higher level of emotional-needs satisfaction, it can then generate controlling influence with customers and competitors. The company that can drive expectations — among customers, distributors, and/or referral agents — to the highest level has the greatest immediate influence in the marketplace.
Rule #4: Measure causes over outcomes. Measuring and comparing sales, profits, market share, brand awareness, stock prices, margins, or any of the other outcomes that businesses spend so much time worrying over only clouds the focus on the causes that drive those desired outcomes. It is far more productive to understand your company’s performance in terms of causal factors, such as perceived satisfaction of needs (especially self-satisfaction and personal significance), than in terms of final outcomes. The list is long, but other key causal factors driving revenue generation include communications effectiveness, brand differentiation, and loyalty generation.
Rule #5: Critical change occurs once competitors start to follow your lead. This process of leading the pack starts with driving new and higher customer expectations. Once competitors discover that your customers are influencing customers of other products to buy your product because you have set new, higher expectations, those competitors start to follow your lead. When this happens, you have established a level of influence momentum that can be sustained for as long as you protect the ''Alpha assets'' that got you there, such as product performance, availability, company personality, customer support, and so on.
Rule #6: Deep, sustainable strength takes time. Like almost everything else in life, developing deep sustainable strength takes time. Although a company can become an Alpha in a short period of time, to sustain that leadership status takes much longer. Customers, competitors, distributors, referral agents, and even employees need to become accustomed to seeing you in the leadership role and following your lead. Your corporate management also needs to get your company’s culture accustomed to that new lead position. Companies that dominate their categories make it a priority to maintain and protect their Alpha assets relentlessly.
Ball authored The Alpha Factor: The Secret to Dominating Competitors and Creating Self-Sustaining Success.
About the Author
Wes Ball is founder of The Ball Group, a strategic innovation management consulting firm, and author of The Alpha Factor: The Secret to Dominating Competitors and Creating Self-Sustaining Success (Westlyn Publishing, www.thealphafactor.com).
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Marketing Prices
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clipped by suzip Apr 07, 2008
communication hikes market Marketing packaged price prices segmentsNotes by suzip: Prices play effective role in Marketing in which Packaged Communication for price hikes affect Market Segments.
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Marketing Prices
By Amit Agarwal
Prices are the most sensitive factors in marketing. This article details how companies can protect their customer bases, even when increasing prices. The latter part of the article discusses recent reductions in prices by companies fearing a recession in the U.S. economy.
Need to increase prices? Every company increases prices at some point, but not without facing the ire of customers. Though price increases are inevitable considering the constant rise of input costs, it is also important to market any price increase tactfully.
Every company increases prices at some point, but not without facing the ire of customers.
Whether you are a doctor charging fees for house calls, or a manufacturer selling cars, your own costs are always likely to increase, pushing you to increase fees or prices that you charge to customers. However, there is a right way to handle customers when you increase prices.
Packaged Communication for Price Hikes
Any communication about price hikes to your faithful customers should be gift-wrapped in sweet but straightforward words. Something like, “For the past 7 years ABC manufacturing has held its prices steady while always improving our quality and service. We are proud that after these many years we are limiting our price increase to a modest 3%.”
You should be able to convince your customers through your communication, whether it’s a letter or email, that your price hikes are fair.
Charging for Add-Ons
Charging for the extra benefits to customers is another way to tackle a price increase. A courier company can charge extra for promising to deliver consignments within 20 hours instead of the normal 24 hours. Efficient courier companies usually deliver within 20 hours but play it safe by advertising delivery within 24. Working towards such strategies does not add to your costs.
Market Segments
Price hikes can be given shape through a careful consideration of market segments. There are always certain market segments which are affected more by price hikes than others. A business traveler won’t mind paying extra for a more expensive same-day return flight to Miami; however, a housewife would not always want to spend those extra dollars.
Different market segments react differently to price hikes. Hence, price strategies should be calculated according to the diversity of market segments.
Price hikes should be dealt with by being straightforward and bold. Your customers are not interested in your profit margins; they are concerned about value for their money.
Some researchers have even suggested that some people may hold you in greater esteem if your products look expensive!
Handling Prices during a Recession
It has been noted that a recession forces retailers to lower prices in order to sell more. Recent articles in the New York Times about Starbucks selling coffee for a dollar per cup shed some light on the fear faced by businesses in the U.S.
However, critics say that it is wise to stick to your prices. They contend that though it is easy to lower prices during a recession, raising prices becomes difficult when the economy turns around.
When deciding on a re-pricing of your products, you should consider whether your brand is price sensitive or not. High-end or luxury brands may damage their images by reducing prices. The tighter people are with their cash, the more they look to spend on trusted brands only. Hence, brand image becomes all the more important.
Accordingly, during a recession one should look to protecting one’s brand by holding steady with the prices.
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The Fizzy Empire of Asa Griggs Candler
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This article discusses Asa Griggs Candler and his fizzy drink Coca-Cola. The long odds faced by this man were not enough to stop him from making...
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Is It the End of the Dollar's Dominance?
http://www.marketingcrossing.com/article/index....
clipped by suzip Mar 31, 2008
balance currencies dollars major nation trade value worldNotes by suzip: Dollars Value has dropped against Major World Currencies for which Nation Trade Balance, budget deficit & relative Economic Status are the major determiners for debate.
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Is It the End of the Dollar's Dominance?
By Roshan Tolani
Analysts have written volumes on the causes and effects of the slide in the value of the dollar. The dollar has dropped against other major world currencies, and the belief is gaining ground that it may remain weak for a long time to come.
Does the Weak Dollar Reflect Fundamental Weakness in the U.S. Economy?
The dollar has dropped against other major world currencies, and the belief is gaining ground that it may remain weak for a long time to come.
A lot of debate has taken place about what determines the relative value of a currency. To most, a nation’s trade balance, budget deficit, and relative economic status are the major determiners. Nevertheless, supply and demand remain the major factors that shape the relative value of a currency.
The weak dollar is not necessarily a sign of fundamental weakness in the nation’s economy. The U.S. has undergone several cycles of the weak and strong dollar, and never have these cycles made the economy better or worse.
Are the Authorities Ignoring the Slide in the Dollar’s Price?
The declining dollar to some extent creates inflationary pressure as imports become costlier. In a situation like this, if the Federal Reserve Board continues to cut rates, it is more likely to provoke inflation. It can also bring in a dangerous combination of weak growth and high prices.
In the last several years, the country has witnessed dramatic economic imbalances. The only effective way to correct these imbalances is to increase the country’s savings. However, the administration has not dared to take this measure, as it would require rolling back excessive tax cuts and government-led health care reforms.
Instead, the administration has opted for a quicker fix — letting the dollar fall. The weaker dollar makes U.S. exports more affordable, narrowing the trade deficit and helping the nation to ease imbalances.
Although the administration has not shied away from taking credit for the five percent decline in the trade deficit in the year that ended in January, the improvement is more a result of the growth in exports made possible by the fall in the dollar’s price.
How Deep Will the Dollar Plunge?
With the drop in the dollar’s value, many investors have diversified their portfolios by including other currencies. This trend results, however, in the further decline of the dollar. Some Middle Eastern countries have also hinted that the future pricing of oil may not entirely be in dollars. If that happens, it would cause further downward pressure on the dollar’s value.
What’s more, if the Fed continues to slash interest rates to rectify the American economy, investors may move their money to securities in other currencies to fetch better returns.
Since 2002, the dollar has steadily lost ground to the euro and other major global currencies. The perception is that the slide may continue for a long time with China and other Asian nations pumping out exports to the U.S. and buying dollars to contain the prices of their own currencies. Moreover, many oil-rich countries are seriously considering alternatives to the dollar. Any such monetary policy adopted by the Persian Gulf nations could further dampen the dollar’s value.
While most observers believe the dollar will rise again, no one is able to predict when it will happen.
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The Fizzy Empire of Asa Griggs Candler
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This article discusses Asa Griggs Candler and his fizzy drink Coca-Cola. The long odds faced by this man were not enough to stop him from making...
Jobs Break Up
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Eight Myths about Alpha Companies
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clipped by suzip Mar 28, 2008
alpha companies competitive lower personal pressure significanceNotes by suzip: Alpha Companies enjoy higher profitability & Lower Competitive Pressure which helps customers with self satisfaction & Personal Significance.
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Eight Myths about Alpha Companies
By Wes Ball
In business, as in the animal world, just about every product category has an Alpha, a company that leads the pack. Alpha companies enjoy higher profitability, lower competitive pressure, and more control over future revenues than follower companies do. Alphas are so influential that almost everyone in their category looks to them before making decisions of their own.
What made Starbucks the Alpha of coffee retailers, when there were already many others with arguably better products? What made Harley-Davidson the most desired product in the world (even above diamonds), when its product quality was far lower and its prices much higher than most of its competitors’ motorcycles? What is the secret to making products people will pay almost anything for?
Wes Ball is founder of The Ball Group, a strategic innovation management consulting firm.
The secret to being an Alpha and dominating one’s product category lies in: (1) identifying your company’s real Alpha assets — the things your company offers that drive buyers — and (2) managing those Alpha assets and making them the focus of all decisions and performance measurements. Alpha companies help customers believe their products will provide them with self-satisfaction and personal significance. Make it possible for customers to feel smarter, bolder, braver, more influential, more knowledgeable, more admired, or more fulfilled, and customers will flock to your product.
Let’s dispel some commonly held myths people have about Alpha companies.
Myth #1: To dominate the category, your company has to be biggest. Size — i.e., market share, number of employees, number of locations — does not equal domination. Often a smaller competitor in the category is the true Alpha — the company the rest of the industry tries to keep up with, the one that drives customer expectations. A good example is Ben & Jerry’s.
Myth #2: Price is the deciding factor for consumers when they buy. If price were the ultimate driver of buying decisions, there would be no Mercedes-Benz, Dom Perignon, and Rolex. Consumers are willing to pay more for something they believe gives them more. Research shows price is actually the last thing customers consider before a purchase.
Myth #3: To achieve dominance, you have to be first to market with an idea. In truth, few of the Alpha companies today were either the first in their category or the first with the type of product they currently sell. Victoria’s Secret and Starbucks are good examples. They were not the first to sell sexy underwear or coffee — they were just best at marketing those products so that customers clamored for them.
Myth #4: The Alpha in a category offers the highest quality product. That would only be true if customers wanted the best quality. Evidence shows that customers want something else: a product that satisfies a functional need but also makes them feel smarter, more attractive, more admired, more significant, etc. A good example is Harley-Davidson, whose motorcycles are of poorer quality than Japanese bikes yet dominate in customer loyalty and price leverage.
Myth #5: To learn how to be an Alpha company, follow the leader. Every time you follow the leader, you convince customers in your category that the leader’s product is the one they should aspire to. To be an Alpha, strategic differentiation is critical. The real trick is to find unmet, higher-level needs that you can “own” as things you uniquely address well.
Myth #6: The fewer competitors in your category, the better. Quite the contrary. Eliminating or attacking competition is the worst thing you can do if you want to dominate your category and grow your customer base. Aggressive competitors drive more consumers to the products in your category, and demand for those products — yours and theirs — begins to grow geometrically. Furthermore, when you have competitors imitating you, customers seek out your Alpha products with even greater enthusiasm.
Myth #7: Sometimes, Alpha companies just “come out of nowhere.” Fortunately, once you understand how Alphas evolve, you can reliably predict who will grow dramatically before that growth even starts. By comparing all competitors in your category in the factors that constitute an Alpha, you can readily see which companies are in the process of creating growth potential and which are not.
Myth #8: It takes time to acquire a dramatic share of the market. Most corporate executives find it hard to believe that dramatic, revolutionary growth can occur for a company in a short amount of time. Evidence shows, however, that using Alpha learning can create significant growth usually within a year or less — even if the company is a top performer already or, conversely, has been in a prolonged cycle of stagnation or decline.
About the Author
Wes Ball is founder of The Ball Group, a strategic innovation management consulting firm, and author of The Alpha Factor: The Secret to Dominating Competitors and Creating Self-Sustaining Success (Westlyn Publishing, www.thealphafactor.com).
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1. Search Marketing for Dummies
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5. Innovative Marketing: Are You Using It?
Most Viewed
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1. Building Your Brand: Five Steps to Building a Strong Brand and an Optimized Customer Experience
2. Tackle Data Quality Upfront to Increase Marketing ROI
3. The World's Best-Known Marketing Secrets
4. Building Your Brand: Five Steps to Building a Strong Brand and an Optimized Customer Experience
5. Innovative Marketing: Are You Using It?
The Editor Recommends
1. From MySpace to McSpace
2. Survey Says: Don't Fake It
3. Workplace Woes: Identifying the Pessimist
4. From a Marketing Group to a Marketing Team
5. An Overview of Marketing Channels
Success Stories
The Fizzy Empire of Asa Griggs Candler
By Amit Agarwal
This article discusses Asa Griggs Candler and his fizzy drink Coca-Cola. The long odds faced by this man were not enough to stop him from making...
Jobs Break Up
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Leading Brands: What Makes Them Lead?
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Leading Brands: What Makes Them Lead?
By Amit Agarwal
Today's leading brands did not become leaders overnight. They have certain traits that helped them achieve and maintain their positions as market leaders. The present article lays down the characteristics of leading brands.
There are only a few leading brands that can boast almost 50 percent of the total sales in their industries. Meanwhile, all the other brands are striving to be among those leaders, struggling to make a mark, or barely surviving in the rat race. What is it that makes the best brands the cream of the crop?
Standing out from the crowd is definitely the mantra for leading brands.
Characteristics of Leading Brands
Standing out from the crowd is definitely the mantra for leading brands. They achieve their goals by developing certain attributes.
Flexibility
Leading brands have the ability to improvise. They foresee future market demands and create something new and unexpected. People don’t only buy products for a specific functional purpose; at times, they buy more than they need, and the best brands frequently impart that perception of added value.
Responding to their environments is a leading characteristic of top brands. They utilize their intuitive or technical know-how to invent something that will stand out.
Economies of Scale
Cutting costs through economies of scale is one of the most important characteristics of a leading brand. Top companies mostly aim at large-scale production to reduce their costs.
The costs of raw materials, machinery, distribution, and advertising are all kept in check to maintain a leading market position.
Highlighting Their Best Characteristics
Every product carries a set of benefits for its sales promotion; however, leading brands always market their products by highlighting their most unique characteristics. This sets them apart from competitors.
Focusing on one or two unique features helps leading brands to stay out front and ahead of the crowd.
Paying Attention to Patrons
Managing a business well involves managing your customers well. At times, companies are so busy with their daily routines — meetings, planning, etc. — that they forget their customers. Leading brands always have some distributors or direct customers who form the backbones of their companies. Leading brands spend more time with their customers.
Their Strength: Employees
A job at Coca-Cola or Microsoft may excite many. This is because leading brands take care of their employees. These brands provide their employees benefits that help them achieve their professional and personal goals. A healthy staff is a typical trait of a leading brand.
Transparency
Leading brands have transparency as a top priority — transparency in everything from their products and accounts to their policies. More and more companies are opening up to this idea of being open. It is never difficult to find out information about a leading brand.
A leading brand leads because it demands a certain reputation and aims at creating value for its customers. The employees behind top brands are not scared to dare. They experiment with every possibility to better their existing products.
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Always Stay Connected with Your Workplace!
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Always Stay Connected with Your Workplace!
By Puja Mahendru Afuwale
The world is one big market, and executives need to travel day in and day out to places around the world to find new opportunities, develop new markets, and extend the reach of their businesses. And, while they are on these important missions for their companies, it is imperative that they stay connected to the folks in their home offices. Furthermore, since they may need to travel most of the time, they need to be available to guide and manage their teams from afar as most projects and commitments can’t just wait.
Fortunately, modern technology is a boon for always-on-the-move executives. Devices like laptops, cell phones, PDAs, and others can easily bridge the distances to their offices, even while they are travelling. However, there are a few things you should take care of while you are planning your trip. One thing to look for is a business-friendly hotel that has amenities, such as video conferencing facilities, to support business communications. You can also check in advance for Internet cafes in the area where you will be travelling. There are many online resources that can provide you with information on the locations of Internet cafes; however, you may not get a comprehensive list, so you may also want to check with locals after you arrive.
When choosing hotels, one thing executives should look for is a business-friendly hotel that has amenities, such as video conferencing facilities, to support business communications.
Traveling Tips for Business Executives:
- Ensure that you have an email account with one of the popular
web-based email services like Yahoo! or Hotmail. This will give you
the flexibility to check your emails from any computer, eliminating
the need to carry your own laptop.
- If you are carrying your laptop, you can enjoy the comfort of
checking your emails in your hotel room if the hotel offers
Internet connectivity. Besides your laptop, your mobile phone also
gives you a medium to check your emails.
- Gather information on the locations of Internet cafes or other
places where you can rent a computer during your stay.
- If you are not able to find an Internet connection near where
you’re staying, you can read messages and compose your replies
offline. Then, when you do get a chance to connect to the Internet
later, you can send any messages you’ve already composed.
- There are many hotspots like airports, coffee houses, and cafes
which often have wireless networks for their guests. You can get
access to the Internet free of charge at these places.
- Before you leave on your trip, email important documents and messages to yourself or put them on a web-based storage space, especially if you are not going to be carrying a laptop with you.
- Put important files and information on a CD or flash drive
before leaving, in order to back up your important data.
- If you are using an Internet cafe for communicating, you may
want to use a privacy screen filter that makes it impossible for
your neighbor in the cafe to peek at your screen.
- If you are using a computer belonging to the Internet cafe,
ensure that you remove all your documents from the desktop, recycle
bin, or any other folder where you may have saved it. Also empty
the web browser cache before leaving the system.
- If you are sitting in a public Wi-Fi zone, there is a high risk of password and data theft by hackers. Avoid entering financial information in such places or use VPN connectivity to get into a more secure mode.
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7 Effective Marketing Techniques to Glide through a Recession
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7 Effective Marketing Techniques to Glide through a Recession
By Amit Agarwal
Brake on a turn, and you might lose control. A NASCAR driver slows down before a turn but accelerates while on it. Businesses generally put the brakes on their marketing budgets during a recession, but that doesn't serve them well when the economy recovers. This article lays down some techniques for effective marketing during a recession.
It’s fine to put on the brakes while heading into a recession, but planning for tougher times always pays. The U.S. economy may or may not be heading for a recession right now. Let’s assume, for the purposes of the present article, that it is. Some of the best marketing techniques to use during a recession are listed below:
Recession forces every department of a company, including marketing, to check their budgets.
1. Avoid Cutting Marketing Budgets
A number of studies have shown that companies which don’t compromise their marketing spending during a recession generally come out stronger upon a recovery. Avoiding a cut in your company’s marketing budget will help you compete in the marketplace when most other companies are reducing their spending across the board.
2. Utilize Budgets Unconventionally
Recession forces every department of a company, including marketing, to check their budgets. Marketing departments that use more unconventional marketing techniques during these times often come out with healthy progress reports during any economic recovery.
3. Justify Your Investments
During a recession, a CEO needs a strong reason for every major investment. A marketer who can prove that a certain investment will provide sufficient revenues for the company in the long run will definitely meet with greater success. For example, by studying the market, one can make modifications in a product, its price, and its positioning.
4. Find a Friend to Lean On
Swimming alone in the ocean during bad weather makes no sense. One must look for partnerships to help reduce friction from a dragging economy. The stronger your partner, the better your chances for survival. In a recession, everyone is struggling and looking for help. Partners may be found across borders, in similar industries, or in an old trusted associate.
5. Old is Gold
While looking to build new partnerships during a recession is no sin, loyal customers are the assets you need to take care of the most. Recession is a time when you should look to satisfying the needs of your old customers. Much to your advantage, during a recession, customers are more likely to go to their old trusted vendors. Though making new customers in such times is a difficult job, sticking to loyal customers is much easier.
6. Stay Competitive
During a recession, it is important to study the market and deliver what your competitors are unable to. A possible blessing in disguise, a recession may sometimes provide an opportunity to get ahead of the competition. For example, when the technology bubble burst, many IT companies played on the pricing factor and took out a number of variants for their software. This helped them to regain lost ground and come out strong when the economy recovered.
7. Look Out for Growing Markets
A downturn in the economy marks a time to study the market closely and see what industries can grow faster. There are always some segments which outperform others, even in the worst economic scenarios. Marketing products directly or indirectly to these segments might help boost sales.
These seven marketing techniques are enough to bail you out and even help your company grow during a recession. Indeed, a recession might even provide one of the best times to review your place in the market and get ahead of the herd.
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The Fizzy Empire of Asa Griggs Candler
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This article discusses Asa Griggs Candler and his fizzy drink Coca-Cola. The long odds faced by this man were not enough to stop him from making...
Jobs Break Up
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Consumer Research: Rethinking Marketing Strategies
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Consumer Research: Rethinking Marketing Strategies
By Aarti Nayudu
Every company aspires to raise profits on a yearly basis. No matter what product a company manufactures or which services they provide, at the end of the day, they want a profit. To achieve noticeable results by the end of a fiscal year, however, a company has to invest wisely in its marketing strategies.
All those colorful advertisements splashed all over the place are definitely part of rigorous marketing by companies. Advertising is clearly one of the most successful and established strategies for marketing. As noted in an article by the consumer research company America’s Research Group, ''The secret of great marketers is not only knowing when to ‘hold’ and when to ‘fold,’ but when to revise successful marketing strategies.''
By getting regular feedback from customers, a company can keep track of changing consumer desires, and that in turn can help the company renovate their marketing strategies accordingly.
Companies cannot, however, rely solely on advertising — or on distributing flyers, or word of mouth, etc. — for successful returns. They have to supplement these strategies by gaining their customers’ confidence. One way of doing this is by conducting consumer research to see what customers have to say about a product or service. By doing so, a company can get to know what their customers really want.
By getting regular feedback from customers, a company can keep track of changing consumer desires, and that in turn can help the company renovate their marketing strategies accordingly. Trade associations are one place where one can find statistics on consumer research. As discussed in an article from Red Rover Marketing, consumer research includes insights into issues like consumer preferences, purchasing criteria, the amount customers are willing to pay for a certain item, the levels of satisfaction for a purchased item, and other factors that may be useful in planning marketing strategies.
Direct dialogues with customers can be one among many ways of doing consumer research. Not all companies, however, are willing to engage in direct dialogues with consumers as some firms perceive such dialogues to be risky. Despite the element of risk, though, direct dialogues can be very useful in gaining the consumer’s confidence, as such discussions reflect well on the human side of a company. Consumers like it when they know that companies are willing to talk to them about their products and services, and are willing to take customers’ concerns seriously.
Consumer research can also have a positive impact on sales. Consumer research conducted on the Woolmark label showed that 78 percent of respondents were willing to pay more for a washing machine that had a Woolmark approved cycle. Knowing your customers in such specific ways means that you can cater to their specific needs, and that in turn can increase sales for your company. Consumer research can clearly initiate insightful, consumer-based marketing.
Put simply, then, consumer research — that is, knowing what your costumer really wants — can be the key to successful marketing.
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Ray Kroc: The Man behind McDonald's
By Amit Agarwal
Founded in 1940 by two brothers, Dick and Mac McDonald, McDonald's Corporation, as it is known today, was later taken over by Ray Kroc. Kroc's vision and marketing expertise created one of the most...
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Niche Job Boards Have Arrived!
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Niche Job Boards Have Arrived!
By Puja Mahendru Afuwale
The virtual world has penetrated deep into our lives and our careers. And just like businesses in the non-virtual world, web-based companies harp upon customization in their efforts to bring focused solutions for our needs through the online medium. The way we search for jobs on the Internet is a case in point. The old generic job boards are giving way to niche job boards, bringing more convenience and efficiency to online job searches.
For a long time, generic job boards have targeted everyone, everywhere. That is, they offer jobs spread across a wide range of geographic locations and industries. For serious job seekers, however, using generic job boards means finding their ways through thousands of jobs they are not really interested in. Obviously, many a savvy job seeker would prefer to keep away from such job boards because they can be a waste of time if the seeker is not interested in relocating or in looking at jobs in multiple fields.
The old generic job boards are giving way to niche job boards, bringing more convenience and efficiency to online job searches.
Niche job boards, on the other hand, focus tightly on specific areas of interest for job seekers. One board may focus entirely on posting biotech jobs, while another may focus solely on accounting positions. Such boards perform better than generic boards because they understand their audiences and markets far better, and their services are steeply inclined towards the specific interests and profiles of their audiences. They yield faster job-search results and are better able to attract more targeted audiences on the basis of specific industries or geographic locations.
By focusing on one industry — the marketing industry, for example — a niche job board is able to attract only professionals from that industry and focus on their needs. And as these professionals gain a sense of comfort from sharing an environment with like-minded people, the job board can use this sizeable pool of professionals to build relationships with various industry bodies and businesses. These relationships will in turn help the job board offer greater value to its users by offering better jobs, opportunities to network, memberships in industry associations, career tips from industry experts, and more.
Niche job boards carry a bigger responsibility: they don’t just offer jobs, they offer tools for making a better career. They give job seekers pretty much everything they need to find the right jobs and also offer them resume-building services, industry-specific news and articles, career tips, information on hot industry employers and what they look for in candidates, and much more.
Types of Niche Job Boards
While there are many types of niche job boards, most niche job boards offer focused services based on the following three parameters:
- Geography-specific job boards: These job boards give you
job-search results for a specific geographic location. If you are
not looking at relocating, then you may want to choose a regional
job board that will only show you jobs in a particular area. If you
are open to relocating, then you can also try using the “location
search” functionality provided by many international job boards to
find jobs in the countries or areas of your choice around the
globe.
- Profession-specific job boards: These job boards list jobs
based on a specific profession or industry. If you have a marketing
background, you can use a marketing-specific site to get
information on all available marketing jobs. One site that is
quickly becoming popular with marketing professionals worldwide is
www.marketingcrossing.com,
which has the fastest growing marketing jobs database in the world.
MarketingCrossing offers marketing jobs from Fortune 500 companies
and other top companies and also hosts interesting articles on the
profession and industry trends.
- Hierarchy-specific job boards: A senior-level executive will
obviously want to skip job boards displaying administrative-level
jobs. Hierarchy-specific job boards cater to a specific cadre of
professionals. For example, www.managercrossing.com is a
niche job board designed solely for managerial-level
candidates.
Go for big industry names: Employers and recruiting companies typically don’t advertise on every job board. Instead, they select the most popular and well advertised boards first. For this simple reason, you, as a job seeker, should check out the more popular job boards first when you start your job search.
Bigger is not always better: Small, focused job boards offer more personalized attention and services. If you do not wish to relocate, employ the services of local job boards to target your desired location for a job.
Check out the market statistics: Find out who is using a particular job board and which companies are coming to this job board to hire candidates. If you are satisfied with what you find, then stick with that job board.
Is the job board user-friendly?: Complicated job boards only end up confusing your job search. Finding the right job is rarely a one-day process, and you will probably need to regularly visit a job board for some time before you find a job. Ensure that the job board is user-friendly, allowing you to perform job searches quickly and easily.
Find out about other services: Job seekers like niche job boards not only for their focused job results but also for their various career services such as resume building, career tips, career analysis tools, and more.
Find out if it’s free: There are new niche job boards popping up on the Internet everyday. Most of them offer free services to establish themselves and build a following. The important point is that some of them are just as effective as the more popular job boards. Why pay when you can get similar quality for free?
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- Geography-specific job boards: These job boards give you
job-search results for a specific geographic location. If you are
not looking at relocating, then you may want to choose a regional
job board that will only show you jobs in a particular area. If you
are open to relocating, then you can also try using the “location
search” functionality provided by many international job boards to
find jobs in the countries or areas of your choice around the
globe.
-
Make Your Marketing Green!
http://www.marketingcrossing.com/article/index....
clipped by suzip Mar 04, 2008
eco-responsible factor feel-good green innovation Marketing productNotes by suzip: Green Marketing provides sense of Feel-Good Factor to the customers charging a premium on products in which products seems much Eco-Responsible.
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Make Your Marketing Green!
By Puja Mahendru Afuwale
A popular practice among marketers has been to offer more than customers are expecting in order to win them over. The extra benefits that a given product offers help customers make the final decision when they have to choose from among the many options available in the market. Of course, a benefit does not always have to be physical. It may be something as intangible as a feel-good factor that gives a sense of pride and satisfaction to customers.
There is, for example, a growing awareness among customers today about the need to protect the environment. Consequently, many consumers derive a sense of achievement from contributing towards this cause and are on the look out for words like “eco-friendly,” “organic,” “natural,” etc. that indicate that a product is socially responsible. Marketers are increasingly targeting such “green” customers by engaging them on an emotional level, and the concept of “green” marketing is fast becoming popular.
Marketers are increasingly targeting ''green'' customers by engaging them on an emotional level, and the concept of ''green'' marketing is fast becoming popular.
Green marketing offers environmental benefits to customers, and it is being used in almost every industry to drive sales and repeat purchases over time. Green marketing is about promoting products and services by meeting two objectives: satisfying customer needs and improving the environment.
Green marketing opens up room for innovation in terms of both product and societal improvements. By creating and offering products that have reduced impacts on the environment, marketers can exploit opportunities and enhance the overall marketability of their products.
Benefits and Pitfalls of Green Marketing
Green marketing offers a number of significant benefits:
- Marketers get access to new markets and gain an advantage over
competitors that are not advocating “greenness.”
- Marketers can charge a premium on products that are seen as
more eco-responsible.
- Organizations that adopt green marketing are perceived to be
more socially responsible.
- Green marketing builds brand equity and wins brand loyalty among customers.
- Most customers choose to satisfy their personal needs before
caring for the environment.
- Overemphasizing greenness rather than customer needs can prove
devastating for a product.
- Many customers keep away from products labeled “green” because they see such labeling as a marketing gimmick, and they may lose trust in an organization that suddenly claims to be green.
Tips on Green Marketing
- Judge your customers first. Find out whether they value the
concept of green products and are concerned about the issues your
product tries to address.
- Ensure that your customers derive a strong feeling of “making a
difference” from consuming your product.
- Make sure that you first satisfy the functional need of your
product and that you do it well. Otherwise, you can forget about
repeat purchases and new customers for your green product.
- Find out whether your customers are willing to pay a premium
for your products because they are green.
- Ensure that customers believe your claims that the product is environmentally friendly. Don’t exaggerate; be honest and transparent.
- A lack of awareness among customers about green products and
their benefits
- Lack of customer willingness to go out of the way to buy a
green product
- Unwillingness to pay a premium for a green product
- Difficulty in winning customer trust as to the greenness of the
organization
- Huge investments in R&D for product innovation
In other words, green marketing has arrived and is here to stay.
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NEW JOBS
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Marketing Jobs Near Your City
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Most Popular Articles
Most Viewed
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1. Search Marketing for Dummies
2. Top Tips for Marketing over the Holidays
3. Making Career Change Work for You
4. Marketing Secrets: How to Use Education to Dominate Your Market and Increase Sales
5. Innovative Marketing: Are You Using It?
Most Viewed
Most Emailed
1. Building Your Brand: Five Steps to Building a Strong Brand and an Optimized Customer Experience
2. Tackle Data Quality Upfront to Increase Marketing ROI
3. The World's Best-Known Marketing Secrets
4. Building Your Brand: Five Steps to Building a Strong Brand and an Optimized Customer Experience
5. Innovative Marketing: Are You Using It?
The Editor Recommends
1. From MySpace to McSpace
2. Survey Says: Don't Fake It
3. Workplace Woes: Identifying the Pessimist
4. From a Marketing Group to a Marketing Team
5. An Overview of Marketing Channels
Success Stories
Ray Kroc: The Man behind McDonald's
By Amit Agarwal
Founded in 1940 by two brothers, Dick and Mac McDonald, McDonald's Corporation, as it is known today, was later taken over by Ray Kroc. Kroc's vision and marketing expertise created one of the most...
Jobs Break Up
Subscribe to our FREE Weekly Newswire and also get the "Job Search Tips" e-book FREE!
Your privacy is guaranteed. We will never give out, lease, or sell your personal information. + Home + About MarketingCrossing + Contact Us + Affiliate Program + Post a Job + Press Room + FAQ
+ Feedback + Privacy + Terms of Use + Site Map
AccountingCrossing | AdminCrossing | AdvertisingCrossing | ArchitectureCrossing | BiotechCrossing | BlueCollarCrossing
BusinessDevelopmentCrossing | ComplianceCrossing | ConstructionCrossing | ConsultingCrossing | CustomerServiceCrossing
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Shoot for the moon. Even if you miss it, you will land among
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© 2007 MarketingCrossing. All rights reserved.
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- Marketers get access to new markets and gain an advantage over
competitors that are not advocating “greenness.”
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