HOW TO HIRE THE RIGHT TEAM Today, with ever more employees suing their bosses for wrongful discharge, sexual harassment, and racial/gender/age discrimination, it is increasingly important an entrepreneur understand how to hire. Hiring is not a simple matter of placing a help-wanted ad in the newspaper, receiving resumes, and then […]
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WHY SMART COMPANIES OUTSOURCE PRODUCT MANUFACTURING When new businesses fail, most of the time it’s due to running out of cash. Poor cash flow management is the nemesis of the more than 80% of new ventures that go out of business in the first year. It takes a lot […]
HOW TO DEVELOP A MARKETING PLAN (4) Strategies For Pricing Pricing a product or service is as much a part of the marketing strategy of the financial strategy. Pricing is one of the many features associated with a product or service; it becomes the central selling point when the product […]
HOW TO DEVELOP A MARKETING PLAN (3) Components of the Marketing Plan Every marketing plan incorporates the traditional 5 P’s of marketing: people, product, price, place, and promotion. Once these aspects of the plan have been addressed, it is time to discuss the creative aspects, such as the advertising and […]
HOW TO IMPROVE PRODUCT INNOVATION AT YOUR COMPANY More often, even big companies struggle with innovation. An example was Gerber’s 1970s attempt to penetrate the adult food market. Instead of developing a new line with its own unique distribution strategy, the baby food brand re-labelled existing pureed products and simply […]
HOW TO DEVELOP A MARKETING PLAN (2) The Marketing Plan in One Paragraph Many experienced marketers suggest that the first step in creating the marketing plan is to condense all the ideas about marketing strategy into a single paragraph. Impossible? Not at all. Crafting a single well-written paragraph forces the […]
HOW TO DEVELOP A MARKETING PLAN (1) For any company, an effective marketing strategy begins with a marketing plan. The marketing plan for an entrepreneurial company is a living guide on how the company plans to build customer relationships over its life in order to fulfil the mission statement in […]
BENEFITS OF CREATING RELATIONSHIP MARKETING WITH CUSTOMERS (PART 3) Just-in-Time Marketing Customer wants are often tied to major events or rites of passage, such as birthdays, marriage, purchase of a home, pregnancy, and relocation. Keeping track of dates that are important to customers gives the company an opportunity to contact […]
BENEFITS OF CREATING RELATIONSHIP MARKETING WITH CUSTOMERS (PART 2) How to Identify and Reward the Best Customers It is not uncommon for a company to find that as few as 24 per cent of its customers account for 95 per cent of its revenues. The 24 per cent are the […]
BENEFITS OF CREATING RELATIONSHIP MARKETING WITH CUSTOMERS (PART 1) The essence of relationship or one-to-one marketing is building trust, satisfying customers, producing shared customer and company goals, communicating with customers, and making customers part of the team. Relationship marketing is also about providing a bundle of benefits that the customer […]
