Marketing General Manager Customer Centric Selling

Work-life balance as a Marketing General Manager is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Marketing General Manager from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Relationship Versus Vendor Management

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Why Customer Centricity Is Important

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

Part of the appeal of customer-centricity is that it takes very little business acumen to grasp its core concept. Focus intensely on customers, align your products or services with their interests, and voila: a customer - centric culture is born. Simple, right? Not quite.

Becoming a truly customer-centric organization is perhaps one of the most difficult transitions an organization can make, fraught with hidden obstacles and unanticipated challenges. Here are three potential roadblocks on the path to a customer-centric strategy, and how to get around them.

Failing to understand your most valuable customer

A customer - centric strategy is only as good as its customers. You cant let the average customer dictate what you do, says Robert Duboff, CEO of Hawk Partners LLC and coauthor of the book Market Research Matters. Generally speaking, Duboff says, 20 percent of a company's customer base generates 80 percent of its profits. Given that split, its imperative to put your most valuable customers at the heart of your approach.

Identifying those customers need not take exhaustive research and complicated measures. It can be a fairly straightforward process, as it is with the Net Promoter Score, or NPS, a metric developed by Bain & Co.s Fred Reichheld. As set forth in The Ultimate Questionwritten by Reichheld and published by Harvard Business Pressthe NPS approach consists of one simple question: On a scale of one to 10, would you recommend us to your friends?

Based on the answer to that question, customers are segmented into three categories: promoters, who actively champion a particular product to their friends and colleagues; passives, who are lukewarm about the product; and detractors, the opposite of promoters. A given company's score is simply the difference between its number of promoters and its number of detractors.

NPS has proven to be a powerful tool for such companies as General Electric Capital Solutions, which has used it not only to identify customers that are already valuable promoters but to gain insights into how it can convert detractors. For a business like GE Capital Solutions, which serves more than 1 million very diverse customers in many different industries, NPS helps us better understand what our customers are feeling and how we can improve their experience with us, says Stephen White, a spokesperson for GE Capital.

Failing to support your external customer - centric strategy with an internal customer - centric strategy.

Speaking of valuable customers, what about that most priceless customer of all your employee?

While most companies aren't in the habit of regarding their employees as customers, those seeking to instill a customer-centric culture should rethink their stance, argues Elaine Berke, president of Westport, MA based EBI Consulting, which specializes in helping organizations develop customer-centric strategies. Customer - centricity needs to come from the inside out, says Berke. Leadership must avoid a double standard that makes it OK for managers to argue with or demean staff while still being courteous and considerate to external customers.

Consider the case of the world-renowned Johns Hopkins University Hospital. In developing a comprehensive Service Excellence initiative aimed at boosting its level of patient care, the hospital included employee satisfaction as a core component of the program. The hospital conducted an extensive survey to gauge employee concerns that turned up such simple, actionable insights as making it a point to compliment co-workers and instituting criticism - free no negativity days.

Customer-centric organizations value and respect internal customers as much as external customers, says Berke. Like the old saying goes, If you're not serving a customer, you're serving someone who is.

Failure to identify the moment of truth

Companies spend considerable time and resources developing metrics for processes, execution and other day-to-day functions but often overlook defining their moments of truth those points at which a customer interacts with a company's product or service and forms an impression.

Companies are usually very good at creating metrics around [such procedures as] production deliverables but have a much harder time knowing how to create and measure standards relating to the quality of service being delivered, Keith Bailey of Sterling Consulting Group says.

In defining a company's moments of truth, Bailey suggests looking at three different angles quality of product, quality of procedures and quality of relationships. Taking a hotel as an example, the quality of the product would be the cleanliness and comfort of the rooms. The quality of procedures would be such factors as how it long it takes to check in or how long customers wait for room service. The quality of relationship would be the friendliness and helpfulness of the staff.

Considering each angle separately allows a company to isolate the negative moments of truth within each and develop a game plan for turning them into positive experiences. Procter & Gamble, for example, identified its moment of truth as that instant when a shopper picks up one of its products and decides whether or not to purchase its decision the customer makes in an average of six seconds. The company has overhauled its marketing with that insight in mind, creating a global First Moment of Truth business team designed to win over the customer in that moment.

There are as many different customer-centric approaches as there are customers, and each has its own unique challenges, but the road to a truly customer-centric strategy always begins with the same steps.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Customer Retention is Boosted by Customer-Centric Culture

Consumer Behavior In Economics

Empowering employees like Marketing General Manager to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

Vendor risk management is now a very important concept that needs meticulous planning. It is a necessity and also a policy that many companies are following for greater efficiency and profit.

There are many Third party vendors or direct company vendors are present in many industries including software, hardware etc. Today it is an integral part of business to manage information and knowledge, as it is the most important asset of an organization. Information security, legal documentation, trademarks, patents, copyright are some traditional and newly evolved concepts. Starting from design to concept today all can be patented or protected by legal documentation.

Today companies assess the brand value, customer information, internal customer satisfaction report, past and present client information before handing over non public information to vendors, like credit card details, bank information, even address phone numbers in mailing and calling lists, (PCI DSS Requirement 12.8 similarly requires covered entities to maintain a list of service providers with whom card holder data is shared.) To back up the institution's vendor risk assessments in conversations with regulators and auditors, it is also helpful to keep handy files containing due diligence and audit reports on the vendors or summaries of such reports.

Vendor risk management is the process organizations analyze not only from the point of view of past experience but also in case to case basis that can be particular to the partnership. This is particularly important for companies that relates to data sharing and the outsourcing of business functions and processing. Vendor risk management is a standard practice today and has matured to an extent where some leading financial industry groups such as BITS have standardized the process significantly through their Standard Information Gathering (SIG) and Agreed upon Procedures (AUP) standards. The use of these standards or their derivatives helps organizations quantify the risk that may be involved with their vendors and then incorporate appropriate risk lessening techniques and measures to alleviate the risk.

Vendor risk management process helps organizations to operate in a mutually secured environment that encircles security of organizations information, customer data and also third party vendor's operational security. It does not eliminate but certainly minimize security concerns involved in third party production of good and services, processing of information and handling data and process. This also enables the third party vendors to draw border line for their employees on basis of certain legal or agreed points within which they have to deliver and work. So it is mutually benefiting the principle organization and the vendor creating a secured platform of operation where both can deliver excellent product or service to their customers or interest groups.

When a Marketing General Manager spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Human Resource HR Consultant Team Building

Work-life balance as a Human Resource HR Consultant is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Human Resource HR Consultant from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Building a Customer Centric Culture

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

What Is Client Eccentricity

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

Motivation can be defined in numerous ways, but there are two basic definitions or descriptions. It can be defined as the main reason or reasons that individuals partake in a certain behavior, specifically human behavior pursuant to the study of psychology or neuropsychology. It can also be defined as the driving force that initiates and drives an individual's behavior. It is the internal energy that propels us to achieve our goals. Typically, it is considered to be a dynamic state of mind not concerned with personality.

There are three aspects of human behavior that motivation is based and founded in:

1. arousal of behavior
2. direction of behavior
3. persistence of behavior

Arousal of behavior relates to a specific thing that activates behavior whereas direction of behavior relates to what is responsible for directing the behavior. Persistence of behavior relates to how the behavior is sustained.

What drives an individual to be successful is referred to as motive. Usually, all motives fall into one of three categories and are considered to be physiological or psychological in nature:

1. homeostatic motives - hunger, respiration, thirst, etc.

2. nonhomeostatic motives - curiosity about the environment, seeking shelter, etc.

3. learned or social motives - achievement, approval, power, social affiliation, etc

In any endeavor that an individual undertakes, motivation (or the lack thereof) is the key element behind the success or failure of the endeavor. It plays a key role in the workplace where the effective performance of an employee is concerned. Management or supervisory personnel have a direct impact and play a significant role in employee motivation in that they employ different motivational techniques to raise productivity levels. It also follows that this has a direct effect on the cooperation levels between the employer and the employee.

Motivation can also be classified as

1. negative or positive
2. obvious or subtle
3. intangible or tangible

Education or learning is also interrelated with motivation and instructors will oftentimes employ motivational techniques to get their students to learn. It can benefit the student by making them more competent as well as encouraging confidence and the ability to solve problems.

Self-motivation has also been classified into two different types:

1. Extrinsic - generated by external factors

2. Intrinsic - generated by internal sensations and is longer-lasting than extrinsic

Self-motivation is considered to be intrinsic in nature, and originates from an individual's internal drives. It is the basis for overcoming obstacles in the path of achieving one's goals. Additionally, certain external factors are responsible for driving a person into undertaking a new project or to move in a positive direction. Characteristically, self-motivation is comprised of three factors:

1. beliefs
2. desires
3. values

Since an individual cannot rely on others for motivation, self-motivation has to come from within. It plays a key role wherein the individual gathers the courage and strength to achieve certain goals, and is essential for developing new undertakings or making a positive change in one's lifestyle. Training programs have been proven to be the best way to educate oneself in order to improve motivation and self-motivation.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Consumer Motivation

First Focus Should Be Supplier Relationship Management

Empowering employees like Human Resource HR Consultant to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

There are businesses that are mostly self-sustained. And then there are businesses that rely heavily on third-party suppliers, otherwise known as vendors. For example, an events management business rely on equipment suppliers, food and beverage suppliers, chairs and tables suppliers, printers and fabricators to be able to deliver a good, seamless and flawless event.

While these types of business typically depend on a set of reliable suppliers that they regularly work with, the best practice still involves exploring other suppliers every time a requirement comes up. Otherwise, there won't be any chance of discovering better and more cost-effective suppliers at all.

For example, an events management company who has done business with the same audio-visual equipment supplier for the past 10 years was bent on using the same supplier for a big event. One day, however, a faxed flyer came in from a fairly new equipment rental company which offered lower rates. When asked for a quote, this new supplier gave rates that were half the cost that the old supplier offered. So automatically, the events management company signed up a new equipment supplier.

Unfortunately, keeping a database of vendors is a challenging task, especially in companies where there is a fast turnover rate. The danger in these companies is that people leave too soon, without getting the chance to endorse to the next person their "red book" of trusted vendors. As a result, the next person has to start from scratch to build up their own database of vendors.

This is where the importance of vendor management software comes in. So what does vendor management software do? It actually serves as a robust database of all the vendors that the company has worked with in the past, as well as those that they intend to work with in the future.

Typical vendor management software has such functions as vendor registration, a vendor approval scheme, risk management functionality, the ability to track vendor visibility and performance. All these are usually linked to a standard billing and invoicing functionality as well.

Does it sound like something that your business needs? Remember though that there are certain things that you need to keep in mind when investing in software. First, you have to make sure that the interface is user-friendly, the security features meet your standards, the report-generation functionality is flexible and robust, and the after-sales support is responsive.

When a Human Resource HR Consultant spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Finance Vice President Bedok Suppliers Relationship

Work-life balance as a Finance Vice President Bedok is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Finance Vice President Bedok from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Vendor Management Software - How It Helps To Manage Vendors

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Customer Segmentation Using Machine Learning

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

Abstract

During the marketing classes we all have heard about the four 'P's (Product, Price, Place and Promotion) which is also known as the marketing mix. It has always been the best parameters to control the internal as well as external constraints of the marketing environment.

In today's hypercompetitive world, the four P's are no longer an effective model to penetrate and exist in a market. Through the power of mass media, channels and technology, the control has slowly shifted from marketers to consumers. This is where 'customer-centric marketing' comes into existence which is now considered as the new model for marketing effectiveness.

Customer-centric marketing

According to Chaffery1[1], "Customer-centric marketing is an approach to marketing based on detailed knowledge of customer behavior within the target audience and then seeks to fulfill the individual needs and wants of customers." It centers on the needs and wants of the customer, and not about what the marketer or seller wants a customer to buy. Thus by understanding the needs, wants and problems of the customer, businesses could gain direct insight into them and build a mutually beneficial relationship and rapport. Understanding how a customer or prospect is engaged with the brand and then tailoring resources, products, services, and communications to reflect their engagement level demonstrates a customer-centric business approach.

Thus;

• Customer-centric approach is more like creating relationship sales by understanding your consumers as opposed to product or promotional approach.

• It focuses more on the satisfaction and mutual relationship with the consumer

• Communication becomes an important factor to get regular feedback from consumer

• Will be investing on potential consumers thus avoiding vain investments on low potential customers

• Sales will be generated as a result of a solid relationship, listening and problem solving

• Consumer information will be integrated across marketing, sales, and service departments

• Integrated mass and direct communications with the customers will be made regularly

To help frame a customer-centric strategy, Forrester[2] has identified five key dimensions which marketers must focus on:

1) Establish a customer-centric marketing culture;

2) Rethink business processes;

3) Create a centralized view of the customer;

4) Use analytics to drive customer communication; and

5) Invest in a consistent measurement framework.

Why companies should change to customer-centric approach?

There are many benefits by switching to a customer-centric marketing approach and adjusting marketing practices to deliver relevant messages through multiple channels.

• The first reason would be 'an improvement in selling and experience' as there are no sales tosses

• Least expensive marketing program and improved referrals

• Marketing investment will be better aligned with customer profit potential

• Increase in profits through customer loyalty. Customers will buy over a long period of time

• Lasting business relationship

• Raises awareness and optimizes appeal

Conclusion

A comprehensive view of the customer helps marketers to deliver productive customer experiences, support marketing measurements, and drive new business opportunities. The first step towards greater profits is to recognize that company profitability is driven by customer-level profitability. Long term investments in the right customer base will definitely help businesses to position themselves to prosper and succeed.

[1] Chaffery, Dave. 2008, Customer centric marketing definition, from; http://www.davechaffey.com/E-marketing-Glossary/Customer-centric-marketing.htm

[2] Source: Defining an Enterprise wide Customer Contact Strategy, Forrester, Research, Inc., October 22, 2008.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

4 Customer Centric Culture Building Blocks

Consumer Behavior Model And Research

Empowering employees like Finance Vice President Bedok to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

Consumer behavior refers to the selection, purchase and consumption of goods and services for the satisfaction of their wants. There are different processes involved in the consumer behavior. Initially the consumer tries to find what commodities he would like to consume, then he selects only those commodities that promise greater utility. After selecting the commodities, the consumer makes an estimate of the available money which he can spend. Lastly, the consumer analyzes the prevailing prices of commodities and takes the decision about the commodities he should consume. Meanwhile, there are various other factors influencing the purchases of consumer such as social, cultural, personal and psychological. The explanation of these factors is given below.

1. Cultural Factors

Consumer behavior is deeply influenced by cultural factors such as: buyer culture, subculture, and social class.

• Culture

Basically, culture is the part of every society and is the important cause of person wants and behavior. The influence of culture on buying behavior varies from country to country therefore marketers have to be very careful in analyzing the culture of different groups, regions or even countries.

• Subculture

Each culture contains different subcultures such as religions, nationalities, geographic regions, racial groups etc. Marketers can use these groups by segmenting the market into various small portions. For example marketers can design products according to the needs of a particular geographic group.

• Social Class

Every society possesses some form of social class which is important to the marketers because the buying behavior of people in a given social class is similar. In this way marketing activities could be tailored according to different social classes. Here we should note that social class is not only determined by income but there are various other factors as well such as: wealth, education, occupation etc.

2. Social Factors

Social factors also impact the buying behavior of consumers. The important social factors are: reference groups, family, role and status.

• Reference Groups

Reference groups have potential in forming a person attitude or behavior. The impact of reference groups varies across products and brands. For example if the product is visible such as dress, shoes, car etc then the influence of reference groups will be high. Reference groups also include opinion leader (a person who influences other because of his special skill, knowledge or other characteristics).

• Family

Buyer behavior is strongly influenced by the member of a family. Therefore marketers are trying to find the roles and influence of the husband, wife and children. If the buying decision of a particular product is influenced by wife then the marketers will try to target the women in their advertisement. Here we should note that buying roles change with change in consumer lifestyles.

• Roles and Status

Each person possesses different roles and status in the society depending upon the groups, clubs, family, organization etc. to which he belongs. For example a woman is working in an organization as finance manager. Now she is playing two roles, one of finance manager and other of mother. Therefore her buying decisions will be influenced by her role and status.

3. Personal Factors

Personal factors can also affect the consumer behavior. Some of the important personal factors that influence the buying behavior are: lifestyle, economic situation, occupation, age, personality and self concept.

• Age

Age and life-cycle have potential impact on the consumer buying behavior. It is obvious that the consumers change the purchase of goods and services with the passage of time. Family life-cycle consists of different stages such young singles, married couples, unmarried couples etc which help marketers to develop appropriate products for each stage.

• Occupation

The occupation of a person has significant impact on his buying behavior. For example a marketing manager of an organization will try to purchase business suits, whereas a low level worker in the same organization will purchase rugged work clothes.

• Economic Situation

Consumer economic situation has great influence on his buying behavior. If the income and savings of a customer is high then he will purchase more expensive products. On the other hand, a person with low income and savings will purchase inexpensive products.

• Lifestyle

Lifestyle of customers is another import factor affecting the consumer buying behavior. Lifestyle refers to the way a person lives in a society and is expressed by the things in his/her surroundings. It is determined by customer interests, opinions, activities etc and shapes his whole pattern of acting and interacting in the world.

• Personality

Personality changes from person to person, time to time and place to place. Therefore it can greatly influence the buying behavior of customers. Actually, Personality is not what one wears; rather it is the totality of behavior of a man in different circumstances. It has different characteristics such as: dominance, aggressiveness, self-confidence etc which can be useful to determine the consumer behavior for particular product or service.

4. Psychological Factors

There are four important psychological factors affecting the consumer buying behavior. These are: perception, motivation, learning, beliefs and attitudes.

• Motivation

The level of motivation also affects the buying behavior of customers. Every person has different needs such as physiological needs, biological needs, social needs etc. The nature of the needs is that, some of them are most pressing while others are least pressing. Therefore a need becomes a motive when it is more pressing to direct the person to seek satisfaction.

• Perception

Selecting, organizing and interpreting information in a way to produce a meaningful experience of the world is called perception. There are three different perceptual processes which are selective attention, selective distortion and selective retention. In case of selective attention, marketers try to attract the customer attention. Whereas, in case of selective distortion, customers try to interpret the information in a way that will support what the customers already believe. Similarly, in case of selective retention, marketers try to retain information that supports their beliefs.

• Beliefs and Attitudes

Customer possesses specific belief and attitude towards various products. Since such beliefs and attitudes make up brand image and affect consumer buying behavior therefore marketers are interested in them. Marketers can change the beliefs and attitudes of customers by launching special campaigns in this regard.

When a Finance Vice President Bedok spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

IT General Manager CBP Employee Selection

Work-life balance as a IT General Manager CBP is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of IT General Manager CBP from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Building a Customer Centric Culture

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Team Building Discussion Questions

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

Consumers are beginning to change their views regarding moving. The motivation for consumers to move is shifting from the financial aspect to the needs of the consumer. A significant segment of the population has moved to take advantage of the low interest rates that have been available. These consumers have moved to achieve a higher quality of life without the higher monthly payment that usually accompanies it. They move because it makes financial sense to do so.

According to a survey conducted by Harris Interactive:

25% of Americans in the market for a new home cite a life change as the reason for their move. Consumers are citing retirement location, new baby, divorce, or a new job as their primary motivation for moving.

As Agents, we can find out about these people through our past clients and sphere. These people in our database hold the key to accessing a larger segment of new business.

The best way to more effectively find out about moving trends and increase referrals from our past clients and sphere is to ask more specifically. Most Agents have been trained by sales trainers to ask for referrals globally. They use techniques like "Oh, by the way" or "Do you know of anyone who needs my services?". These techniques all work slightly to generate referrals, but they are not very effective.

To really achieve the Championship level in referrals, you have to ask specifically. We have to ask our past clients and sphere about the people they know: those who are expecting a new baby, someone who has gotten a job promotion or job transfer. We must position ourselves well ahead of the transaction, not just in the transaction.

Teaching and mobilizing your past clients and sphere takes you beyond the gimmick technique referral process. You can contact and interact with the prospect at the earliest stage possible. You can become a resource when they need help making the decision, rather than just being there once the decision is made. With this approach, you provide a higher level of service to the prospect and future client.

In the survey:

18% wanted a larger home or more property.

16% want a home as an investment.

12% want to rid themselves of the conditions that come with renting.

7% want to receive the tax benefits home ownership brings.

All these key reasons the consumers are using to make their purchase can be discovered with a more in-depth relationship and in-depth questions of your sphere and past clients. We need to move beyond the surface level of our relationship with our past clients and sphere.

Finally, interest rates seem to be the secondary driving factor in moving. Focus on the primary reasons outlined above. This will ensure a strong finish to your year.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Understanding Consumers and Market Segments

Why Customer Centricity Is Important

Empowering employees like IT General Manager CBP to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

There are businesses that are mostly self-sustained. And then there are businesses that rely heavily on third-party suppliers, otherwise known as vendors. For example, an events management business rely on equipment suppliers, food and beverage suppliers, chairs and tables suppliers, printers and fabricators to be able to deliver a good, seamless and flawless event.

While these types of business typically depend on a set of reliable suppliers that they regularly work with, the best practice still involves exploring other suppliers every time a requirement comes up. Otherwise, there won't be any chance of discovering better and more cost-effective suppliers at all.

For example, an events management company who has done business with the same audio-visual equipment supplier for the past 10 years was bent on using the same supplier for a big event. One day, however, a faxed flyer came in from a fairly new equipment rental company which offered lower rates. When asked for a quote, this new supplier gave rates that were half the cost that the old supplier offered. So automatically, the events management company signed up a new equipment supplier.

Unfortunately, keeping a database of vendors is a challenging task, especially in companies where there is a fast turnover rate. The danger in these companies is that people leave too soon, without getting the chance to endorse to the next person their "red book" of trusted vendors. As a result, the next person has to start from scratch to build up their own database of vendors.

This is where the importance of vendor management software comes in. So what does vendor management software do? It actually serves as a robust database of all the vendors that the company has worked with in the past, as well as those that they intend to work with in the future.

Typical vendor management software has such functions as vendor registration, a vendor approval scheme, risk management functionality, the ability to track vendor visibility and performance. All these are usually linked to a standard billing and invoicing functionality as well.

Does it sound like something that your business needs? Remember though that there are certain things that you need to keep in mind when investing in software. First, you have to make sure that the interface is user-friendly, the security features meet your standards, the report-generation functionality is flexible and robust, and the after-sales support is responsive.

When a IT General Manager CBP spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Singapore Online Community Consumer Motivation

Being a member of Online Community you would know employee job satisfaction is one of the key goals of all successful companies. Happy employees are more loyal to the company and its vision. They go the extra mile to achieve company goals.

Dissatisfied workers experience lower productivity in the workplace, poorer performance, more job stress, and higher turnover rates. Moreover, low job satisfaction can result in low morale and low loyalty to the company itself and to any outside Online Community.

Job satisfaction is defined as the extent to which employees feel self-motivated and satisfied with their job. Employee satisfaction covers the basic concerns and needs of employees, and is essential to the success of any business. Job satisfaction is a combination of intrinsic (kind of work) and extrinsic (working condition) factors. Salary, promotion, work-life balance, recognition and appraisals are important factors to be considered in employee satisfaction.

Vendor Relationship Management Checklist

Make strategic decisions to create a culture of engagement and satisfaction. Engaged employees have a strong sense of purpose and leadership. They add value by pushing limits, driving growth and innovation. Employee satisfaction is one of the key metric that can help determine overall health of an organization, which is why many organizations employ regular surveys to measure and track employee satisfaction over time. As a Online Community you would understand that this is one way to assess whether your team is happy and engaged at work. It is critical for employee retention. Sadly, CulturalManagement has observed that this has decreased significantly over the past twenty years.

At CulturalManagement we guide you on how to easily collect and understand employee feedback to create an action plan that works. Few ways a company can improve employee job satisfaction:

  • Provide a positive working environment.
  • Rewards and recognition.
  • Make work-life balance a priority.
  • Develop skills and potential of workforce.
  • Create open and honest communication channels.

Deciphering consumer's behavior is the biggest challenge before the manufacturing companies. The success of any product and service largely depends on the consumer's response and behavior. There is no set test to analyze consumer's behavior. The behavior of consumer is affected by several factors and these factors directly indirectly influence the buyer's behavior. Many scientific methods are followed by the companies to analyze the consumer's behavior.

Consumer behavior is exposed to various factors and these factors directly and indirectly influences a consumer's decision in choosing a particular product. A factor such as motivation, learning, and perception great affects consumer's decision. There are several outer factors such as culture, environment as well.

Companies are spending millions of dollars to examine and analyze the consumer's behavior so that they can design and develop a suitable product for the consumer class.

Earlier it was believed that creative advertisements with the catchy lines have the power to affect consumer's buying behavior but the latest experiment does suggest that environmental cues can influence what you like and buy. According to latest research creating a link between a product and something in the environment will surely motivate the consumer to give a second thought about the products and buy it. Though it cannot be generalized but research has shown that establishing relations between a product and something from your outer world will increase the probability of buying a particular product.

One cannot deny the role of social norms and social factors in affecting consumer's buying behavior. The popularity of brand name attracts people and people often prefer branded product and trust brand name instead of local product. Buying and supporting a brand name give social acceptance. People often go for big brands and latest hot trend while purchasing apparel clothing and other items. The cultural value of the society also effects consumer's buying behavior. Companies are paying close attention to advertising and they are trying to inculcate the socially acceptable factors in their advertisement to make it more appealing and influencing.

Man is a social animal and we have a tendency to discuss and exchange views on several topics. For example, if the product is visible as clothing, shoes, car etc., the influence of reference groups will be high. Reference groups also include opinion leader (a person who influences others by his special skill, knowledge or other characteristics).

People mostly shop with friends and family and the role of family member is crucial in deciding the final purchase decision. If someone is shopping for apparels, clothes or other items the suggestion of husband, wife or kid will play important role in finalizing the deal. Here we should note that the purchase of roles change with the changing lifestyles of consumers.

• Roles and Status

When we analyze environmental factor in influencing consumer's buying behavior we cannot ignore the role and status of that person, purchasing decisions will be influenced by their role and status.

Lifestyle

Customer's lifestyle is another factor affecting import purchasing behavior of consumers. Lifestyle refers to the way a person lives in a society and express things in their environment. It is determined by the client's interests, opinions, etc., and activities shape their whole pattern of acting and interacting in the world.

A human behavior is highly influenced by the culture and subculture he lived in. Factors like religion, nationalities, and geographical regions affects human behavior. Marketing strategist pay special attention subculture factors while creating advertisement so that it could influence the customers' behavior in a positive way. An advertisement contradicting the accepted norms and standard will not produce the desired result. A good analysis of the subculture will help the marketer to design a product according to the needs of a person residing in a specific geographical location.

The consumer's buying behavior is open to several factors including environmental factor, social factor, personal factor, psychological factors. Marketing strategist and product developers are paying close attention to these factors so that they can come up with the right kind of product and improve the sales of the products.

Consumers for retail goods go with family or friends. I would like to bifurcate as - personal goods such as clothing, cameras, PCs likewise a consumer go to buy along with friends. White goods like refrigerators, Air conditioners the consumer would like to take along family members.

How Can Singaporeans Achieve Better Work-life Balance?

Consumers are beginning to change their views regarding moving. The motivation for consumers to move is shifting from the financial aspect to the needs of the consumer. A significant segment of the population has moved to take advantage of the low interest rates that have been available. These consumers have moved to achieve a higher quality of life without the higher monthly payment that usually accompanies it. They move because it makes financial sense to do so.

According to a survey conducted by Harris Interactive:

25% of Americans in the market for a new home cite a life change as the reason for their move. Consumers are citing retirement location, new baby, divorce, or a new job as their primary motivation for moving.

As Agents, we can find out about these people through our past clients and sphere. These people in our database hold the key to accessing a larger segment of new business.

The best way to more effectively find out about moving trends and increase referrals from our past clients and sphere is to ask more specifically. Most Agents have been trained by sales trainers to ask for referrals globally. They use techniques like "Oh, by the way" or "Do you know of anyone who needs my services?". These techniques all work slightly to generate referrals, but they are not very effective.

To really achieve the Championship level in referrals, you have to ask specifically. We have to ask our past clients and sphere about the people they know: those who are expecting a new baby, someone who has gotten a job promotion or job transfer. We must position ourselves well ahead of the transaction, not just in the transaction.

Teaching and mobilizing your past clients and sphere takes you beyond the gimmick technique referral process. You can contact and interact with the prospect at the earliest stage possible. You can become a resource when they need help making the decision, rather than just being there once the decision is made. With this approach, you provide a higher level of service to the prospect and future client.

In the survey:

18% wanted a larger home or more property.

16% want a home as an investment.

12% want to rid themselves of the conditions that come with renting.

7% want to receive the tax benefits home ownership brings.

All these key reasons the consumers are using to make their purchase can be discovered with a more in-depth relationship and in-depth questions of your sphere and past clients. We need to move beyond the surface level of our relationship with our past clients and sphere.

Finally, interest rates seem to be the secondary driving factor in moving. Focus on the primary reasons outlined above. This will ensure a strong finish to your year.

Continue reading “Singapore Online Community Consumer Motivation”

CFO Woodlands Vendor Management

Work-life balance as a CFO Woodlands is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of CFO Woodlands from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Relationship Versus Vendor Management

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Stress Management Workshop

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

Motivation is the characteristic that is required in order to achieve anything in life; without it you will give up at the first sign of adversity. It means to inspire, instigate and encourage a person to do their best. Motivation will compel a person to think "If I can't, then I must" and will cause them to do whatever it takes to become successful. If you inspire motivation it can change your life. You will be inspired to get what you want regardless of what people tell you that you can not do. I have personally seen people apply the motivation factors in life to get from poverty to a life filled with abundance.

Do you think you possess the quality? Only you can answer this question. Take a honest look at yourself; do you find yourself pursuing your goals everyday? Are you doing something to work towards them regardless of what is going on in your life? If you are then you; then my friend you do possess this characteristic and you will reach all your goals. I wake up at 5:00 in the morning to get started on my goals. I am passionate about reaching all my goals. Do you find yourself doing this or are you making excuses of why you can not work on a goal?

It will give you the passion to begin exploring what it is you really want to do in life, and give you the courage to follow your dreams. If you do not like where you currently are and are living life everyday unhappy and frustrated; it probably is because you do not possess any motivation for what you are currently doing. It is up to you to find out what you would really like to be doing with your life. What kind of lifestyle do you want? What kind of career do you want? Do you actually know what it is that would make you happy and excited about getting up out of bed in the morning?

This is a strong quality for anyone to possess; and you can only possess it when you set a burning desire to be do have something in life. No one can give it to you. It can change a persons life in many ways. It can change the way you think, and when you become involved with personal development and become a much more positive individual motivation will get you out of your negative environment.

It is the fuel that inspires us to reach our goals and achieve what we truly desire. It also allows us to keep getting up and moving forward when we get knocked down. Getting motivated and staying motivated gives us the energy we require to reach our goals in the shortest amount of time possible. It is required to meet our goals and do anything purposeful in life. Without it you will not want to get out of bed, clean the house, walk the dogs or do anything at all. Being successful in life and motivation go hand in hand. When you learn how to achieve motivation for something you truly desire; nothing can stop you from having it. So think about it; what truly motivates you then take action towards it and watch it become your reality.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Improve Customer Experience by Overcoming Ethnocentric Customer-Centricity

Relationship Between Innovation And Strategic Management

Empowering employees like CFO Woodlands to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

Motivation can be defined in numerous ways, but there are two basic definitions or descriptions. It can be defined as the main reason or reasons that individuals partake in a certain behavior, specifically human behavior pursuant to the study of psychology or neuropsychology. It can also be defined as the driving force that initiates and drives an individual's behavior. It is the internal energy that propels us to achieve our goals. Typically, it is considered to be a dynamic state of mind not concerned with personality.

There are three aspects of human behavior that motivation is based and founded in:

1. arousal of behavior
2. direction of behavior
3. persistence of behavior

Arousal of behavior relates to a specific thing that activates behavior whereas direction of behavior relates to what is responsible for directing the behavior. Persistence of behavior relates to how the behavior is sustained.

What drives an individual to be successful is referred to as motive. Usually, all motives fall into one of three categories and are considered to be physiological or psychological in nature:

1. homeostatic motives - hunger, respiration, thirst, etc.

2. nonhomeostatic motives - curiosity about the environment, seeking shelter, etc.

3. learned or social motives - achievement, approval, power, social affiliation, etc

In any endeavor that an individual undertakes, motivation (or the lack thereof) is the key element behind the success or failure of the endeavor. It plays a key role in the workplace where the effective performance of an employee is concerned. Management or supervisory personnel have a direct impact and play a significant role in employee motivation in that they employ different motivational techniques to raise productivity levels. It also follows that this has a direct effect on the cooperation levels between the employer and the employee.

Motivation can also be classified as

1. negative or positive
2. obvious or subtle
3. intangible or tangible

Education or learning is also interrelated with motivation and instructors will oftentimes employ motivational techniques to get their students to learn. It can benefit the student by making them more competent as well as encouraging confidence and the ability to solve problems.

Self-motivation has also been classified into two different types:

1. Extrinsic - generated by external factors

2. Intrinsic - generated by internal sensations and is longer-lasting than extrinsic

Self-motivation is considered to be intrinsic in nature, and originates from an individual's internal drives. It is the basis for overcoming obstacles in the path of achieving one's goals. Additionally, certain external factors are responsible for driving a person into undertaking a new project or to move in a positive direction. Characteristically, self-motivation is comprised of three factors:

1. beliefs
2. desires
3. values

Since an individual cannot rely on others for motivation, self-motivation has to come from within. It plays a key role wherein the individual gathers the courage and strength to achieve certain goals, and is essential for developing new undertakings or making a positive change in one's lifestyle. Training programs have been proven to be the best way to educate oneself in order to improve motivation and self-motivation.

When a CFO Woodlands spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Finance Tools Downtown Employee Satisfaction

Work-life balance as a Finance Tools Downtown is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Finance Tools Downtown from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Improve Customer Experience by Overcoming Ethnocentric Customer-Centricity

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

What Is A Customer Centric Company

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

The basic concept of Vendor Management is to "Manage your vendors or they'll end up managing you!"

Summary - A bold change of initiatives and an efficient use of database are the keys to successful Vendor Management. This offers a complete view of vendor activity and performance that is crucial for an efficient and cost-effective project. It helps in delivering a flexible, cohesive platform for enabling, engaging, and evaluating your suppliers. Though there are no permanent solution/fixes for enhancing performance, one can take specific steps to maximize effectiveness.

Often, we draw upon our experience to handle basic problems in vendor management. This white paper lists these basic problems which an organization might face if it outsources work to vendors. Once this paper is through, you can prepare a comprehensive checklist that will help you in getting the best out of your vendors.

Vendor selection

The important thing is to figure out which vendors must be 'managed,' and which ones do not need 'management.' This might sound like an absurdity, but there is some truth to it. For instance, companies might monitor purveyors of office supplies for best prices and basic service requirements, but a deeper relationship is essential for strategic vendors who will deliver eLearning modules or content, on time and at the right cost.

A crucial step is to choose the right vendor. Begin with shortlisting vendors who have worked on similar projects and have a good track record.

Finding talented and efficient vendors at a reasonable cost can be challenging.

The implementation process begins long before the vendor is selected. The specifications should include the optimum rollout approach, with key dates and implementation success criteria. The entire process, from specification development to implementation, must be handled along formal project management lines. From the outset, there must be a Project Board that will undertake to do vendor evaluation. This Project Board should also have overall responsibility for the implementation of the project, otherwise all the knowledge gained-and decisions made-during the vendor selection could well be lost.
The Project Board should consist of perhaps no more than five managers who have the most to gain and, therefore, will take a keen interest in the project. Almost certainly, there should be representation from Personnel/Human Resources.

Once you have found several technology-based vendors that interest you, gather as much basic information about them as you can. Visit their Web site, interact with them and review their work.

Once an initial short list of perhaps four to six vendors has been developed, the first task is to compare the different approaches from these vendors and finalizing on the best possible option. A mandatory criteria is the budget and the confidence the vendor has in meeting implementation dates. What you should be looking for is the way the vendor communicates an understanding of your requirements and how these requirements will be met, as well as the way in which the vendor team members deal with questions from the Board. One of the selection criteria can be-do you feel comfortable with the vendor team?

Some other key considerations are:

o Experience: How many projects have they completed that are similar in size, scope, or content to yours?

o Strength of Company: Do they have the financial resources and staff size to complete your project and maintain it in the future?

o Quality of work: Have they received professional awards, published articles in trade magazines, or otherwise been recognized for their work?

o Resources: Does the vendor have full-time, on-site staff for all critical project tasks?

According to Sue Welch, CEO of Trade Stone Software, a developer of global sourcing and supplies systems in Gloucester, MA, "Wherever possible, provide value to your vendors when you are asking them to adapt to your business needs and requirements," she advises. "For instance, if you want electronic invoicing, offer incentives such as prompt payment or instantaneous audit that can auto-correct invoice discrepancies before submission."

o Determine how well a vendor will solve problems on your project. This is never easy. After all, any vendor will tell you it has excellent problem-solving skills. Here are a few questions to ask prospective vendors that will help to let you know how well they can really deal with problems:

1. What are the problems that you have come across while working on similar projects in the past?

2. How did you deal with those problems?

3. Did you manage to finish your project on time?

4. Were you able to complete your project within the sanctioned budget?

o Value addition -- Look for vendors who think beyond their assignments and can add more value to their projects. What you don't want is someone doing what they're told to do, just because it's a part of the Media standards.

o Develop a Triumph Relationship with the Vendor

We don't want to wield a big stick to beat up vendors, but we want to create relationships that allow both parties to work successfully in the long term. Creating a triumph relationship with the vendor is mandatory for good results.

Here are some tips for creating a positive relationship with vendors:

Tip #1: Proposal Process

o The Request for a Proposal is detailed in its specifications.

o Along with prices, proposals specify the quantity and quality of the media, interactivity, and content.

o A winning solution is judged on the quality of the firm's work, strength of the company, dedication to customer service, price, and quality of the proposal, itself.

Tip #2: Only one Point of Contact:

There should be only one point of contact who coordinates between you and the vendor - the Project Manager/Project Lead. Though each project has assigned team members, miscommunication becomes likely when several individuals are talking with different levels of each organization. For example, if the client is experiencing a technical glitch or bug, it might make sense for the client's technical support personnel to speak directly with the vendor's most advanced programmer. However, the project manager from the client and vendor should participate in this meeting or phone call to make sure that prior commitments or expectations are understood, action items agreed upon, and timetables are set.
This will help in filtering right and clear information.

Tip #3: Regular evaluation through progress meetings:

Following this simple checklist will help improve teamwork on a project. The vendor should be reviewed at regular intervals so that all the problems are solved at the initial stage. One can meet once or twice a week on a project at the given time with the vendor and discuss the project status. It can also include regular phone calls with the vendor and client. During these meetings, one can review the projects and make changes if required. Also discuss the next step and an update on the schedule. In-between, one can also make frequent calls to the vendor to re-check if the vendor needs any information and that everything is on schedule. This keeps the project moving smoothly.

Tip #4: Updated Project Report:

Regular updating of the project schedule should be maintained. The report can be a simple chart that is frequently updated so that one is aware of the missed deadlines or early deadlines. This will allow you to plan at an early stage so as to overcome delays. As you act as a mediator between the client and the vendor, you should add a buffer before quoting a timeline to the client.

Tip #5: Try and make all revisions on the prototype:

The prototype is a working module that includes the major sections of each step in your project. We should try and work with this prototype, get the initial approvals and refine the look, the feel, and the usability of the interface. Examine, test, change, and ultimately approve the colors, fonts, menu structure, location of the navigation buttons, and interface metaphors. The interface should be approved and locked-in before a significant part of the script is completed so the writers will have an accurate sense of screen space while allocating text and specifying graphics.

Tip #6: Make all content revisions in the script:

After the prototype, the next major step from the production team is the script or storyboard. It is very important to review the words, pictures, and sounds that will appear in the final program. Many clients give only a cursory glance at this document and then end up requesting substantial changes after the content has been implemented. It is very time-consuming and expensive to change content after it is implemented in the program. Unless there are obvious typos or mistakes in grammar, revisions to content after it is implemented should be avoided.

o Improved Vendor Performance -- Transparency of the project between you and the vendor is very crucial. It also helps you discover how to create and leverage opportunities to improve vendor performance.

o Get what you pay for - It is very important that the vendor delivers the product/quality that was agreed on and is your requirement. The above tip helps you achieve it.

o Just to remind you -- never accept vendors at face value. Analyze and test them at your level to build a positive business relationship.

o Also recognize that while you expect value for the money you spend with a vendor, the vendor is also in the business to make a profit and has to cover overhead expenses that may not seem obvious to you or your staff. Always let your vendor know you are interested in a mutually profitable relationship.

o Use your vendor representatives as a resource for information and advice. However, be respectful of the time the vendor's representative spends with you. Remember that time is money for both of you.

o Listen to your vendors -- Companies may be wasting their energy if they put specific segments of their business out to bid. Instead, Verticalnet's Habig suggested that better strategic results are achievable when companies let their vendors bid on the parts of their business that they want the most.

Highlights of Vendor Management:

o Helps streamline, simplify and standardize your workforce processes

o Allows you to increase vendor quality, and helps you make better-informed workforce decisions

o Enhances efficiency and helps you manage risk

o Reduces costs by helping you lower vendor rates, eliminate maverick spending and manage headcount to budget

o Lets you focus on strategic human resource functions without the headache of managing E-learning modules/application

Vendor Management enables you to maintain a preferred list of clients, vendors, and suppliers to ensure successful relationships. A well-orchestrated strategy of cost management, working-capital management, and technology-driven productivity will make your business run smoothly.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Roadmap to a Customer - Centric Strategy

What Is Customer Centric Organization

Empowering employees like Finance Tools Downtown to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

The previous two parts of this series explored how important it is for sales people to understand what is driving their customer to buy and to understand what the customer's expectations are. In this article we are going to look at how to proceed once we have the understanding we need of our customer.

In the first article in this series, I stated that most sales people have more than one product or service line at their disposal to meet clients needs. Marketing departments keep coming up with more and more variations even of the same product for different uses and to serve various markets. Some of the features may be the same, maybe even the benefits will be similar, but how these meet our customer's expectations will vary greatly.

In the last article I noted that if we do not understand our clients expectations we cannot meet them. Our product/service will create buyers remorse in the customer and thus we will have a dissatisfied and probably very vocal customer. So if we understand what need our client is trying to satisfy and how they expect our product/service to satisfy the need and we have determined that in fact our available products/services can meet that need and meet or exceed the clients expectations, now what?

Let me give a very simple example of all of this. I am a customer of a roadside beverage stand and I want to order a drink. The sales person has a couple of options: 1) They can simply provide me with their most popular beverage and hope for the best, 2) they can find out the size of the beverage that I want and maybe a preference (Coke vs Pepsi), 3) They can find out more about my situation, explain my options to me and help me to make the best decsion based upon my needs and expectations.

Okay you are thinking I am making a mountain out of a mole hill here, it is a drink for Pete's sake, you are thirsty take what he gives you and be happy, children in other countries don't have anything to drink! Stay with me here, if I am competing in some type of sporting event, or I am a diabetic or I believe that when I am hot, a hot drink will cool me better than a cold drink, or what if all the stand has is alcoholic beverages and I am opposed to alcohol, or allergic to corn syrup or I just plain won't drink anything without carbonation. What if I am extremely offended at wasefulness and I know that I can not drink more than 16 oz and the clerk gives me a 32 oz drink, or I am on a diet where I have to measure my in take?

These things all have to do with my need and my expectation. If I order an ice cold carbonated beverage and expect it to warm me when I am cold, I will be sorely displeased. My expectation has not been met. Worse yet, If I am coerced or persuaded (manipulated/sold) an ice cold beverage, how satisfied am I going to be?

Customer satisfaction hinges on our ability to meet their needs and expectations, this cannot be done if we do not understand those needs and expectations or what they are. Secondly, a buyer is much less likely to be dissatisfied with a product/service that they feel they chose because it was the best possilbe alternative, even if it does not completely meet their needs and expectations. The most important part of consultative selling is in the presentation. A sales person cannot be persuading or manipulating the customer to buy, but must instead be giving them the information they need to make their own decision.

In one of the previous articles I made a statement to the effect that an objection is merely the customer telling us that they do not yet trust us and we have not yet developed the needed rapport. In this part of the process this is a very important concept. If we take a position of trying to defend ourselves or our product/service in answering objections we are furthering a confrontational position against the customer and eroding instead of building rapport. Conversely if we take the this opportunity to confirm our understanding of the what the client has told us their needs and expectations are, we are showing our sincere interest in meeting their needs and expectations. We are no long confronting them, but advocating them. We don't overcome objections, we understand them, don't merely empathize or sympathize, but understand.

If we do in fact understand the customer's needs and expectations, the solution will be clear. We can then explain the options we have to meet the clients needs and expectations and THEY can make a decision. They are not sold anything! They make a decision to buy. If the decision is solely the client's, they cannot be dissatisfied with our product/service, only with their own decision to buy it. If sales people are able to convey their understanding of the client's needs and expectations to the client and the client assents that they are corrrect, and the client is given the information that they deem satisfactory to make a decision with out coercion or prompting (with out being sold) then the decision is theirs alone, and they know it. There will be no resentment towards the sales person, they have been nothing but helpful, and no resentment towards the product/service, I knew going in what the options were, I just chose poorly.

In short, once we understand the customer's needs and expectations we must present to them all the options that are potential solutions. If they don't buy now, they will, either because your industry has improved a product that can now meet their needs/ expectations better, or because they have a new or differnent need/expectation that your product can fill, because they want it to. We have taken the time to build adequate rapport, in fact a relationship, we are now a trusted advisor and people want to do business with trusted advisors. People like to buy, they don't like to be sold to. People like to make decisions, they don't like to pick one and hope for the best. Understand your clients needs and expectations and help them to find the best solution. Don't try to force your solution as the best and for crying out loud----Let the Customer Buy!

When a Finance Tools Downtown spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Sales Executive Paya Lebar Employee Productivity

Work-life balance as a Sales Executive Paya Lebar is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Sales Executive Paya Lebar from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Six Steps to a Successful Vendor Management System

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

How To Improve Resilience In The Workplace

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

What Does it Mean to be Customer-centric?

To have the customer's best interests as the focus of your attention - not to be pre-occupied in your own interests at the customer's expense.

To do this, you need to:

(1) Really know the customer in order to anticipate their best interests.

(2) Differentiate between primary and secondary motives.

Customer-Centric Primary Motives:

Making it easier and nicer for the customer to get and use solutions.

Self-Centric Secondary Motives:

Building revenue and profit through new product development, word-of-mouth, etc.

There's a myth that talking often to your customers (sales, service, surveys, etc.) means you're customer-focused. However, customer-focus goes beyond lip-service to the primary motives that drive your behaviors.

Gap in Desired Versus Actual Customer-Centricity

Half of companies say they're extremely customer-centric, but when customers of those companies were asked, only a tenth of them said those companies were extremely customer-centric. Why is there such a huge gap? When you think about who makes business processes and policies within a company, it's usually the workforce that doesn't interact directly with customers. Three-fourths of companies say that customer experience is not well defined and communicated within their company. Half of companies say they have fair or little knowledge of customer demographics, behaviors, psychographics, and transactional histories. Less than a tenth of companies say they have excellent knowledge of customers. Three-fourths of companies say their employees aren't well versed in how to delight customers.

Ways to Really Know the Customer

This represents an opportunity for those who work directly with customers to share valuable stories and facts with the rest of the company, to help the entire workforce live up to their brand promises. We usually think of marketing, sales, and customer service as outward-facing, with only outbound deliverables.

Yet, if a company is customer-centric, then concentric circles around the customer mean that marketing, service and sales are the natural conduit for helping the rest of the company - engineering, finance, human resources, production, operations, technology, safety, accounting, etc. - understand their impact on customer experience and customer profitability. Three-fourths of marketing groups say they don't influence the customer service function ... so you can imagine how much influence marketing has on the rest of the company!

Customer-facing professionals can sensitize the whole company toward the customer's plight and priorities:

(1) Make sure customer stories reflect the customer experience spectrum.

(2) Use creative ways to share customer stories:

- Intranet
- Internal newsletters
- Bulletin boards & posters
- Lobbies, break rooms, war rooms, conference rooms, cafeteria
- Staff meetings

(3) Involve organization in learning and adapting their mindsets - this is the organization-wide journey guiding everyone on managing their personal impact on customer experience, called internal branding

Return on Investment

Your company makes huge efforts and investments in communicating your value proposition, which is the brand promise that shapes customer expectations. A corresponding investment - at least in energy and scrutiny - makes sense for ensuring the brand promise is indeed delivered. Customer satisfaction occurs when the customer's experience meets or exceeds their expectations. Trust - being true to the brand promise - is biggest the biggest factor in building a customer-centric culture that maximizes customer profitability.

Note: statistics from CMO Council Customer Affinity study and Peppers & Rogers Customer Retention presentation.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Vendor Risk Management

The Top 10 Proven Ways To Boost Employee Job Satisfaction

Empowering employees like Sales Executive Paya Lebar to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

Surviving the Recession

Savvy network marketer and other home based business owners know that just because consumer spending habits change doesn't mean they still won't spend that money. The trick to marketing in a recession is to understand how the consumer behaves in times like these. Keep reading and I'll explain a little about the factors affecting consumer behavior that can help you get better leads and more profits.

Characteristics Influencing Consumer Behavior

It is always important to understand your targeted consumer but never more so than during tough financial times. Marketing in a recession carries with it a new level of complexity. Consumers are much more careful about where and how they spend their money.

If you are going to win over those leads, you'll have to deepen your understanding of them and know what their concerns area. Use this information to tailor your USP (Unique Selling Proposition) to one that will provide solutions to their problems and concerns.

Four Main Elements of Consumer Behavior

Cultural factors play a very big role in consumer behavior. Social class, buyer behavior and subculture elements each go into determining the ultimate behavior of the consumer. During times of economic hardship, a good approach here is to first identify with the consumer on their individual social class perspective. For example, middle class families in this country are experiencing a credit crisis unlike anything they've ever seen.

Social factors are another element to a consumer's purchasing habits. What their family status is, what roles they take on both in their family, job and community will affect how they spend. Try to determine the familial role of your leads, are they the decision makers? Market to them by showing them how your business, product or service can benefit the lives of everyone in their life.

Personal elements such as age, occupation, lifestyle and personality all play important roles. Try to group their personality into on of four types: care giver, money driven, social butterfly or analytical thinker and tailor your marketing approach to their specific personalities.

Finally, there are psychological factors at play here as well. Motivation, perception, beliefs and attitudes can all affect a buyer's behavior. This is where it is most useful to take a preemptive approach in defining all the benefits of what you have to offer.

It Takes Practice

If you are new to the study of consumer behavior because you want to improve your results in marketing in a recession, this may take a little practice before you can master it. As you go through your day, think about these factors and observe those around you. With a little practice this process will become almost instinctual and can really improve your business' results.

When a Sales Executive Paya Lebar spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Management Accounting City Hall Employee Welfare

Work-life balance as a Management Accounting City Hall is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Management Accounting City Hall from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Building a Customer Centric Culture

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

Stress Management Training Courses

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

The Consumer Market comprises all individuals and households who buy or acquire goods and services for personal consumption - for themselves, family, guests, relatives, friends.

Consumer Buying Behaviour refers to the buying behaviour of final consumers (individuals & households) who buy goods and services for personal consumption. We need to understand consumer behaviour to answer the question: "How do consumers respond to marketing efforts the company might use?"

The buying Decision Process consists of five steps: Recognition of Need, Information Search, Evaluation of Alternatives, Purchase Decision and Post-Purchase Behaviour / Evaluation.

Factors Influencing Consumer Behaviour

Personal Factors
Age
Life cycle stage
Occupation
Economic situation
Personality & Self Concept
Life style identification

Psychological Factors
Motivation: a need becomes a motive when it is strong enough to propel us to act, to seek satisfaction
Perception: process by which we select, organize and interpret information to form a picture of the world
Learning: changes in behaviour arising from experience
Beliefs: a descriptive thought about something
Attitudes: consistent / enduring favourable / unfavourable evaluations, feelings, and tendencies towards something

Freud's Theory: A motive (or drive) is a need that is sufficiently pressing to direct the person to seek satisfaction. Sigmund Freud assumed people are largely unconscious about the real psychological forces shaping their behaviour... He saw the person as growing up and repressing many urges - these are never eliminated or under perfect control - they emerge in dreams, in slips of the tongue, in neurotic and obsessive behaviour or ultimately in psychoses. Freud suggested that a person does not fully understand his or her motivation.

Frederick Herzberg's two factor theory of satisfiers and dissatisfiers states that the absence of dissatisfiers is not enough - satisfiers must also be present for products to be purchased. In other words, marketers should do their best to avoid dissatisfiers, while identifying major satisfiers or motivators and providing them.

Social Factors
Family is the most important consumer buying unit in any society or market... family members being the most important / influential primary reference group.
Family of orientation: parents, siblings - strong influence on consumption habits that last a lifetime.
Family of procreation: spouse, children - where there are issues of dominance and influence in decision including purchase and consumption.

Reference Groups are groups with whom a person associates and who influence the person's attitudes, values, behaviour, consumption habits... Membership group are those that have a direct influence.
Primary group: continuous, informal interaction - family, friends, neighbours, colleagues
Secondary group: religious, professional, trade union...
Aspirational group: those a person hopes to join
Dissociative group: those whose values or behaviour a person rejects

Social Roles & Status: A role consists of activities a person is expected to perform in society. Each role carries a status. People select products & brands that reflect their role and actual / desired status in society. Marketers need to be aware of the status symbol potential of products & brands.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Factors Affecting Consumer Behavior

Why Customer Centricity Is Important

Empowering employees like Management Accounting City Hall to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

Abstract

During the marketing classes we all have heard about the four 'P's (Product, Price, Place and Promotion) which is also known as the marketing mix. It has always been the best parameters to control the internal as well as external constraints of the marketing environment.

In today's hypercompetitive world, the four P's are no longer an effective model to penetrate and exist in a market. Through the power of mass media, channels and technology, the control has slowly shifted from marketers to consumers. This is where 'customer-centric marketing' comes into existence which is now considered as the new model for marketing effectiveness.

Customer-centric marketing

According to Chaffery1[1], "Customer-centric marketing is an approach to marketing based on detailed knowledge of customer behavior within the target audience and then seeks to fulfill the individual needs and wants of customers." It centers on the needs and wants of the customer, and not about what the marketer or seller wants a customer to buy. Thus by understanding the needs, wants and problems of the customer, businesses could gain direct insight into them and build a mutually beneficial relationship and rapport. Understanding how a customer or prospect is engaged with the brand and then tailoring resources, products, services, and communications to reflect their engagement level demonstrates a customer-centric business approach.

Thus;

• Customer-centric approach is more like creating relationship sales by understanding your consumers as opposed to product or promotional approach.

• It focuses more on the satisfaction and mutual relationship with the consumer

• Communication becomes an important factor to get regular feedback from consumer

• Will be investing on potential consumers thus avoiding vain investments on low potential customers

• Sales will be generated as a result of a solid relationship, listening and problem solving

• Consumer information will be integrated across marketing, sales, and service departments

• Integrated mass and direct communications with the customers will be made regularly

To help frame a customer-centric strategy, Forrester[2] has identified five key dimensions which marketers must focus on:

1) Establish a customer-centric marketing culture;

2) Rethink business processes;

3) Create a centralized view of the customer;

4) Use analytics to drive customer communication; and

5) Invest in a consistent measurement framework.

Why companies should change to customer-centric approach?

There are many benefits by switching to a customer-centric marketing approach and adjusting marketing practices to deliver relevant messages through multiple channels.

• The first reason would be 'an improvement in selling and experience' as there are no sales tosses

• Least expensive marketing program and improved referrals

• Marketing investment will be better aligned with customer profit potential

• Increase in profits through customer loyalty. Customers will buy over a long period of time

• Lasting business relationship

• Raises awareness and optimizes appeal

Conclusion

A comprehensive view of the customer helps marketers to deliver productive customer experiences, support marketing measurements, and drive new business opportunities. The first step towards greater profits is to recognize that company profitability is driven by customer-level profitability. Long term investments in the right customer base will definitely help businesses to position themselves to prosper and succeed.

[1] Chaffery, Dave. 2008, Customer centric marketing definition, from; http://www.davechaffey.com/E-marketing-Glossary/Customer-centric-marketing.htm

[2] Source: Defining an Enterprise wide Customer Contact Strategy, Forrester, Research, Inc., October 22, 2008.

When a Management Accounting City Hall spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.

Sales And Marketing AVP Suppliers Relationship

Work-life balance as a Sales And Marketing AVP is a term used for the idea that an individual needs time for both work and other aspects of life (personal interests, family and leisure activities).

Our schedules are getting busier than ever before, which often causes our work or our personal lives to suffer. The compounding stress of Sales And Marketing AVP from never-ending workday is damaging. It can hurt relationships, health and overall happiness.

Roadmap to a Customer - Centric Strategy

The best work-life balance is different for each of us because we all have different lives and different priorities. Work-life balance doesn’t mean an equal balance. There is no perfect balance you should be striving for. At the core of work-life balance is meaningful daily Achievement and Enjoyment.

What Is Customer Centric Organization

When employees feel a greater sense of control and ownership over their own lives, they tend to have better relationship with management and tend to feel more motivated and less stressed out at work, which in turn increases company productivity and reduces conflicts.

Companies that encourage work-life balance have become very attractive to workers. These companies also tend to enjoy higher employee retention rates and more loyalty. Promoting balance is beneficial to both employees and companies.

Even though the traditional mom and pop retail shops have been getting a lot of attention in recent times, it is the trend of Specialty Stores [Modern Trade Retail Chains] that is really taking off. The Specialty Stores promise big business to the FMCG companies, all thanks to the ever changing attitude of majority of consumers who prefer to shop from specialized stores like Wal-Mart, Spencers, Reliance Retail, Big Bazaar and many more when compared to the stand-alone stores.

Attesting to the fact that consumers have changed their buying perspectives does not make things easier for the FMCG companies. This focus shift has also made the consumer behavior more volatile. An attractive TVC, schemes that work on a buy some get some free model, discounts offered, or a fall in price is enough for the consumer to choose a brand. In a situation as fragile and fickle as this, tracking the sales till the consumption level is very critical for strategic decision making.

Why Specialty Stores are capturing all the Attention of FMCG Industry?
Specialty Stores are the bulk buyers of fast moving & over-the-counter (OTC) products. With thousands of prospective consumers visiting these stores daily, and the evident fact that such products are better exposed and have higher probability of getting sold in small time-frame due to very competitive cost, Specialty Stores have emerged as the hub of attention by sales and marketing strategists of FMCG companies.

Leveraging IT is not an alien concept to majority of the FMCG players, but that often stops till the National Distributors, Stock Keeping Units, or at maximum, the distributor / micro distributor level. To track the ever-changing consumer buying behavior, it is essential to traverse down till the Tertiary level or till a level when the product reaches the hands of the consumers.

In a hypothetical example where the manufacturer of a healthcare product like a disinfectant has a robust method in place, may be a top-notch ERP, to track its Primary product movement and product sale from manufacturer to C & F agent and distributor simultaneously. Some companies also track the secondary level sales from distributor to the sub-distributors; but the last and the most crucial level loses its significance due to multiple challenges in data collection and touch-points. With little knowledge on how consumers are behaving to this disinfectant, the continuous production of the product can come out as a major loss to the manufacturer.

Tracking Sales at Tertiary Level hence becomes one of the key criterions in analyzing:

  • Consumer buying behavior
  • Production Planning
  • Strategies in the distribution channels & route plan
  • Limitations in consumer knowledge that influence decisions
  • Product Packaging plan
  • How consumer motivation and product development decision strategies co-relate
  • How manufacturers can adapt and improve their marketing campaigns and strategies to reach the consumer more effectively

Tracking the sales manually at any given level is not possible. Unlike the sale of home appliances or electronic items that is relatively slow, the FMCG products sell quickly and in great numbers. They also have varied product categories & SKUs which make it impossible for the FMCG manufacturer to tap the data. Automating the process becomes a mandate; with companies like CalvinKare, Britannia, India Pistons, etc. already cashing on this IT advancement.

Tertiary Sales is a great criteria for knowing the consumer buying behavior, which inadvertently also acts as product testimonial. Drawing inference from the same example of a disinfectant, a sudden drop in its sale at the tertiary level will help you analyze the reasons- and when you know the "reasons", there is nothing stopping you from improving your sales.

There are many ways employers can promote work-life balance in office, some of which are: company outings, offering remote working and flexible hours, providing good health coverage, encouraging employee education.

Marketing in a Recession? How Consumer Behavior Tips Can Bring in Bigger Profits Despite the Economy

Team Building In The Workplace

Empowering employees like Sales And Marketing AVP to take control over their work and home lives can have a profound impact on their job satisfaction and performance, enabling companies to achieve success. Achieving work-life balance is a daily challenge. It can be tough to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.

How should the practice of business continuity evolve to manage the threats and opportunities faced by organizations today and in the future?

Business resilience is the ability an organization has to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people. The CulturalManagement provides experts to partner with your organization and develop a comprehensive emergency preparedness and disaster management program.

One of the basics of all marketing and advertising training is a teaching of "Maslow's needs pyramid". This pyramid shows the different motivators and needs in a person's life and how they are built one upon the other. Supposedly this is presented to help the marketing student understand consumer motivation and thinking. The problem is I've never seen it applied, in the text books. It's presented as the foundation of human motivation and then it's dropped.

I'd like to present to you a way to use Maslow's needs pyramid so that you can get inside the consumer's mind and develop an understanding of what's truly motivating them as they consider purchasing your product or service.

Maslow's needs pyramid present human needs such that each need is pursued and met before the next level of needs can be considered; they build upon one another. The needs from most basic to most complex are:

- physiological needs: food, shelter, sex

- safety needs: clothing, weapons, defense of self

- social needs: social acceptance

- esteem needs: acceptance of self by self

- fulfillment needs: a feeling of having and fulfilling a purpose

So the question is, "How do we use this paradigm to get inside the consumer's head?"

Let's consider a personal fitness training service. Here's how it works at the most basic level. Place yourself in the position of the consumer and think as if you are considering hiring a personal fitness trainer.

1. How will personal fitness training impact my acquisition and use of food? Of shelter? Of sexual behavior? (Now you see why sex is used in marketing so many products - we react to it instinctually)

2. How will personal fitness training impact my personal safety?
- you'll be in better shape and can run faster from a mugger, perhaps.

3. How will personal fitness training positively impact my standing in society? In my social circle? Access to different social circles?

4. How will personal fitness training positively impact how I think about myself?

5. Will personal fitness training have an impact on my personal sense of fulfillment?

I understand that most consumers, will ask themselves these types of questions without really thinking about them. The answers you develop as you purposely ask yourselves these types of questions will give you insight in the processes a consumer may consider or be susceptible to as they are considering purchasing personal fitness training services.

This process will also help you define ways to market that will get consumers to consider your personal fitness training service if they are not. Using Maslow's needs pyramid helps you target your marketing. It is the foundation of:

Getting Attention

Developing Interest

Creating Desire

Facilitating Commitment

Motivating to Action

If you can use Maslow's needs pyramid to get inside the head of the consumer by running it through a filter of questions like the one's I've presented above you'll have a tangible marketing advantage because you now can respond to your consumer's internal dialogue.

Using this type of filtering process can also help you create need in those that have not yet developed an interest in your product or service. Simply put yourself in the consumer's place and present you're marketing to them in such a way as to answer or resolve each need in the hierarchy.

Maslow's needs pyramid is a powerful tool that is taught to every marketing and advertising student in the world but it must be understood and applied if it's to actually be useful. Try using Maslow's marketing filter the next time you are considering a marketing campaign. It'll help you get a better grip on what the consumer is thinking and feeling.

When a Sales And Marketing AVP spends the majority of its days on work-related activities and feel as if they are neglecting other important components of their lives, stress and unhappiness result. Thus, you must learn to draw a clear line between your personal and work time and set clear expectations with your colleagues.