28 March 2013
Market research is very important especially for small businesses because it can help them determine if they can create a new product line or a new business subsidiary. However, some starting and existing businesses think that market research is a great waste of time and resources, but in reality, it could guarantee good profitable returns. Here are a few things you should remember.
1. It Is Not Costly
Most businesses think that market research is very expensive. Focus groups and having three surveys, it seems to them, are very expensive especially paying for resources and their actual discussion groups. However, with a little bit of time and interest to train your people to perform effective research, small businesses could cut great costs by avoiding professional survey companies.
2. Theoretical or Real- Time
Two types of market research exist in the real world. Primary research is when you use focus groups and surveys to ascertain the qualities of your target market in real time. However, there is secondary research, which allows business owners to use past published studies and broad knowledge about their respective markets at virtually no cost at all.
3. Motivation Cycles
Many businesses start with enthusiasm about their markets and then suddenly they get demotivated in the middle of the process as more information comes in that complicates the entire situation. If businesses do not choose to halt their market research, they could gain steady ground and see that all the information they receive comes down together in the end. Experts advise that market researchers start their secondary market research first to serve as a backbone before they make their primary research.
15 March 2013
Most UK citizens keep animals as their pets and companions, but an animal, without the rationality of humans, could act irrationally. Sometimes, they can hurt their owners without any intention. You could make an accident injury claim if your pet or an animal that you do not own inflicted damage against you.
Animal accident injury claims allow victims of dogs, horses, farm animals and birds to claim compensation for the damages the animals caused them.
The most common animal attack in the UK is a dog attack. Dogs are common pets in the country’s urban and rural areas. Guard dogs at work are the simplest to make a claim. Even if the employer trained you to handle the dog carefully, gave you the safety equipment required and made risk assessments for your insurance, you could still claim compensation for animal accident injuries.
You need to know the type of dog that attacked you in the workplace. The Dangerous Dogs Act 1991 has a list of dangerous dogs that could inflict grave human injuries such as the Japanese Tosa, Pit Bull Terrier, Dogo Argentino, Fila Brasileiro and their cross breeds. All owners must place these dogs on a leash and muzzle their mouths when walked in public. The government requires these dogs to be registered and insured. If you employers did not follow this, you have the right to make an injury compensation claim.
27 February 2013
PPI or payment protection insurance is a policy banks designed that will help customers repay their loans, mortgages and credit cards in case they get sick or have an accident. However, banks sold the insurance policies to people who did not need it and people ineligible for the insurance. If you’re mis sold, the only way to get back your repayments is through a PPI claim. Here are a few things you should know to make an effective PPI claim.
1. Billing Statements
Your regular loan repayments often include your PPI repayments in its total. If you have all your billing statements from the first day you repaid your insurance policy until the last date, you have a good chance of getting your complete repayments.
Consumers who purchased the insurance with a pre-existing medical condition, unemployed or self-employed or past the claiming age are ineligible for the insurance terms of agreement. Proving you are ineligible means using a birth certificate, a medical certificate dated at least six months from the date you purchased the insurance policy and your previous employment contract.
3. PPI Template Letter
A PPI template letter puts all your evidences in organization. You could find a well-written PPI template letter in most news, media and consumer group websites. A PPI template letter is pre-written with the common reasons why a consumer is mis sold a PPI policy, which the user can add to or erase from. The letter will also highlight the number of claims you have, how much you are owed, etc.
4. Compound Interests
If you owned your PPI policy for more than a decade, your bank owes you your compound interests as well. Compound interests are interest rate multipliers that increase your monthly repayment to your banks. You usually find these on your billing statements so do not forget to highlight them when you make your claim.
26 February 2013
Smaller brands continue to get pummelled by bigger brands not just because they cannot keep up in the market; sometimes, the consumers trust older and resilient brands more than trying out newcomers in the industry. Durability, the quality of products and service and the way the businesses take care of their customers are also factors that help big businesses stay on top. So what does it take to reach a legendary business level? Here are some ideas.
1. Increase Your Market Reach
Big businesses gain more popularity because their market audience stretches from your single branch to a national or international scale. If you can increase the market reach of your business, you have a good shot at gaining new customers willing to try out your products.
2. Develop Your Business Brand
Your business brand shows the public the kind of products and services do you intend to offer and these do not only end with the product or service. Your business brand would show your dedication to your customers in terms of customer support, product development and quality control. How you welcome their feedback for your products and services also matters.
3. Product Pricing
Customers are always meticulous with products depending on prices. They expect more out of a high-priced item and expect adequate performance from low-priced items. However, if you can gauge the competition, you could price your products and services that could beat your rivals’ prices while you deliver quality service.
4. Consumer Trust
Your customers are not just customers because they are also the ones that allow your business to grow and develop. Gaining product or service patrons is an important part in any business; these people act like your shareholders, but are only the ones who can make use of your products. The more you increase consumer trust, the better your business can do against the competition.
26 February 2013
If you think Internet marketing can work best with your business, then you need to know a few things about how to make an effective Internet marketing campaign. Unlike television and radio advertising where you can only “air” the advertisement at specific times of the day, Internet marketing allows you to air at all times, but to do that, you’ll need the following.
Website databases need a server so that users can store the website information and have the visitors access information intended for public viewing. These include the website homepage, videos and the photos you might store for your website’s design or content. You could choose between a typical web hosting server or a cloud-based server application. You need to find a properly functioning server without any downtimes to allow you to “air” you commercials about your products and services round the clock.
2. Search Engine Optimization
Search engine optimization (SEO) techniques allow your website to gain proper indexing and identification in a niche or genre of information in the Internet through search engines. Many Internet users make use of search engines to find the information they need. The many technicalities of search engine optimization include keyword density reading, keyword/ keyphrase usage, link building techniques and others.
3. Network Affiliation
Your website can advertise affiliate websites with similar content or niche as yours. Working with other websites allows the business to have better exposure while earning more for advertisement spaces from affiliates. However, you need to be sure that the network you affiliate with is related to your business’ industry.
25 February 2013
A business’ public image is as important as how they put up with production deadlines and their delivery of items or services to customers without flaw. Maintaining this particular business image is important because it affects their overall sales and their customer’s trust with their business products. Business brand management is important and here are tips to cultivate and implement your image properly.
1. Customer Service
Customer service and help departments in your company are your assurance to customers that your business takes care of their customers even after sales. Many top companies invest in customer service and help because they want to hear feedback from customers, which are helpful in developing new products, and also helping their customers by providing solutions to product or service problems.
You will need a logo that is easy for customers to recall and makes an “imprint” into customer memory. The color, style, font and artistry of your logo can depend on competing with current logos, which may look edgy or relaxed. Capturing your business characteristic and brand is important in the development of your business logo.
3. Employee “Quirks”
Customers expect employees to be sensitive, alert, attentive and helpful, but if you add a few “quirks” to your employee character, you could add a few more “imprints” to your customer recall of your product. For example, a small grocery that has high stalls where customers need to ask employees to reach for the product can have the employee have “quirks” such as perform a stunt to reach the item, show creativity and personality in getting the item or show the seemingly hi-tech capabilities of the store by pressing a button to lower the item.
25 February 2013
One of the platforms for business marketing, as mentioned in an earlier article, is Internet advertising. Aside from television, radio and print media, the Internet is becoming the preliminary source of information especially for today’s younger generation. Most large corporations and businesses today make use of Internet marketing as a way to attract more customers connected to the Internet. But can you really make use of this marketing platform for your business? Here’s a good guide.
1. Market Audience
Are your products targeting the younger or older generation? Market audiences consume media in different platforms. Most young people today spend more time using the Internet today rather than in front of their television. Many young people still make use of the radios in their vehicles. A large number of people commuting through the bus or subways listen automatically to the radio in these vehicles. Older generation spend more time with television.
2. Detailing Product Information
A soap manufacturing business is less likely in need of Internet marketing compared to business that sell clothes, computer parts, vehicle customization services and more. This is because when you buy soap, you don’t need to know more about its chemical composition and details while with clothes, computer parts and vehicle customization, you need to know estimates, the materials used in making them and other information.
3. Order Forms
If your products are handmade or custom-made and not mass-produced, then Internet marketing is for your business. Your website can allow the handling of order forms, which you could do the programming using a simple database. However, you need to have an IT expert help you with this simple database as things can pile up quickly especially with the highway of information that is the Internet.
25 February 2013
Starting a business is a big undertaking for any investor, proprietor and their initial employees as many difficulties and challenges await them in the long run. But the main problem is the starting point itself. Business pre-production, if the owners do this properly, can make things much smoother as the business continues to thrive. Here are a few things to clear during pre-production to ensure a smooth flowing business operation in the near future.
1. Business Loan
If your business has no investors, you could go with a bank to help you get the financing you need. Most banks only require the proprietor’s credit score and a good business pitch during the interview to gain the financing you need. Be sure to submit the requirements they ask as well.
Most small and starting business avoid hiring an accountant for their business when in reality, an accountant is more than just a bookkeeper. Accountants help reduce the tax the business properties need to provide by placing business branches strategically in different areas with different laws and other techniques that can help business owners avoid great amounts of taxes for their profit.
3. Production and Manufacturing
If you’re a producing business, you’ll need to sort out the equipment you’ll need to manufacture your products or items you’ll need for the services you provide. For most service-oriented business, the equipment you will invest in, and their costs, must be put in consideration before the capital is pooled in.
Every business needs a good marketing campaign. Be sure to decide on which platforms would you be making your marketing and advertising campaigns and check on the potential expenses your business might incur during the marketing phase.