The debate of whether or not globalization is good or bad for the economy and for business has been raging for years now. It’s time to weigh in with your opinions and thoughts.
Is global trade good or bad for the economy? Is global trade good or bad for your business? The public opinions on this topic vary dramatically, which is why the conversation continues.
A recent poll published by the Allstate/National Journal Heartland Monitor http://bit.ly/gziJLY reflected the views held by 1,200 Americans of our nation’s standing in the global economy, and summarized the answers to the same questions above. The chart depicts how universally divided the responses are on the pros and cons of international trade. Continue reading…
This article is an introduction to a new blog series around “Globalization: The Leadership Challenge Ahead” the topic of my presentation at the Colleyville Area Chamber of Commerce luncheon on January 6, 2011 to kick-off the new year.
To put things into the proper context, globalization is fast becoming a business imperative for survival and growth, whether you recognize it or not. This is true for both solo entrepreneurs and small local businesses, as well as large multi-national corporations.
Part 4 and the last of the new 4Ps of Marketing is Performance. Ultimately, performanceis the most important of the New 4Ps of Marketing. Why? Because all marketing related activities are investments and as such, they need to be measured, tracked and compared to other investments to ensure that they yield the highest rate of return to the business.
So, how do you measure and track marketing performance to ensure that you are receiving the anticipated return on your marketing investments? Continue reading…
Part 3 of the new 4Ps of Marketing focuses on Perception. Perception is the process by which people select, organize, and interpret information. And therein lies the major obstacle for most companies when attempting to market to a broad, diverse audience.
What does your branding, advertising and marketing communicate about your company and your industry? The market perception of your brand or industry is extremely important, which is why industry leaders take extra steps to ensure that the general perception of them and their industry is positive.
To become a recognized leader in any industry you must develop a strong brand image, while building credibility and trust with consumers, particularly when faced with adversity. Example: Toyota and how they admirably responded to resolve the recent gas pedal recall problem and quickly restored consumer confidence.
Part 2 of the new 4Ps of Marketing focuses on Promotion, the only carry-over from the original 4Ps of Marketing, but with a twist. Promotion in today’s marketing emphasizeseducation and information much more to distinguish your brand and differentiate your product or service from competitive offers.
As you have experienced first hand, there numerous ways to advertise and promote your product or service depending on the media you select. Marketing companies, for example, rely heavily on Internet advertisement, special events, endorsements, and newspapers to advertise and promote their products and services.
The key question for any small business is where and how to cost effectively get across your marketing messages to your target market? For your small business, will you reach your target audience by TV, or radio, or on billboards? What about direct marketing, flyers, door hangers, or on the Internet? Those are a few of the more common advertising and media choices to consider to help you get the word out. Continue reading…
In the past, the 4Ps of Marketing were most commonly defined in terms of Product, Price, Place (or Placement) and Promotion. However, a lot has changed since the original 4Ps were adopted, as a direct result of continued shifts in consumer buying habits, online shopping, social media, etc.
Randy Vaughn’s (Marketing Twins) definition for today’s marketing, “Getting people with a specific need or problem to know, like and trust you”, clearly reflects how much marketing and consumerism have changed over the years. Marketing in this new era has a lot less to do with product, price and place, and much more to do with people and other elements that influence buyer behavior to be covered in this 4-part article. Continue reading…
Are my lips moving and no sounds coming out? That’s a question I am sure most of us have asked ourselves from time to time in attempting to communicate both verbally and in written form with our intended audience.
At times it can be hard to determine if your message is getting through all the noise, particularly when you consider that your prospects are flooded with more than 4,000 messages a day from various media sources.
“Do you know that in a race all runners run, but only one gets the prize? Run in such a way as to get the prize.” – 1 Corinthians 9:24
This is the time of the year where things really get exciting for most businesses. Whether making a mad dash to close out 2021 strong, or starting work on those 2022 plans, one thing all business owners should have in common – you better be running!
To stay ahead of the pack, you must have a solid game plan and execute to perfection.
Much like a runner, your objective should always be to run through the tape (not to the tape) to achieve your goals and thus improve your odds of success.
Whether you are gearing up for a strong end of year push or setting the table for 2022, here are five things to consider. Continue reading…
If you are a solo entrepreneur the answer to this question is obvious – you are. However, if you’re a business owner or business leader with numerous employees and/or direct reports the answer may not be so straightforward. But it should be.
The short answer is EVERYBODY!!!
Whether you are a small business of one or a large corporation with 100,000+ employees, everybody is directly or indirectly responsible for either driving or supporting sales, regardless of their job title. Unfortunately, far too often this fact gets lost on many companies and employees alike. Continue reading…