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Tag: Market

  • Customer Satisfaction Management

    Customer Satisfaction Management

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    General understanding of consumer satisfaction or dissatisfaction is the result of differences between consumer expectations and performance perceived by consumers. From the various definitions of consumer satisfaction that have been researched and defined by marketing experts, it can be concluded that customer satisfaction is a behavior response consumer in the form of after-purchase evaluation of an item or service that they feel (product performance) compared to consumer expectations.Consumer satisfaction is very dependent on the perceptions and expectations of consumers themselves. Factors that influence consumers’ perceptions and expectations when making purchases of goods or services are needs and desires felt by consumers when making purchases of goods or services, past experiences when consuming these goods or services and experiences of friends who have consume these goods or services and advertising.In a competitive environment, an indicator that can show customer satisfaction is whether the consumer will buy back and use the product in the future.

    Customer needs are fulfilled is one of the factors forming Customer Satisfaction (Customer Satisfaction), in addition to other factors related to Customer Service. And this customer satisfaction is what we need to ensure the continuity of our business. Aspects that can affect customer satisfaction effectively [13], namely:

    1. Warranty costs. Several companies deal with the warranty costs of their products / services through a percentage of sales. The company’s failure to give satisfaction to customers is usually because the company does not provide guarantees for the products they sell to customers.

    2. Handling of complaints from customers. Statistically this is important to note, but it is often too late for companies to realize it. If complaints / claims from customers are not immediately resolved, customer defections cannot be prevented.

    3. Market Share. It is a matter that must be measured and related to company performance. If the market share is measured, then the quantity is measured, not the quality of the company’s service.

    4. Costs of poor quality. This can be of satisfactory value if costs for customer defect can be estimated.

    5. Industry reports. There are many types and industry reports, as stated by J.D Power in Bhote, which is the report that is the fairest, most accurate, and most eagerly made by the company.Guiltinan [14] argues that one of the benefits of customer satisfaction is that it can increase customer loyalty, as shown in the figure below

    Customer satisfaction is an emotional response to the evaluation of the consumption experience of a product or service. Kotler defines customer satisfaction as the level of one’s feelings after comparing the performance (or results) that he feels compared to his expectations (Kotler, Philip, and Garry Armstrong, 2005). Basically, customer satisfaction includes the difference between expectations and performance or the results obtained.

    According to Kotler [1], satisfaction is feeling happy or disappointed someone who appears after comparing between perceptions or impressions of the performance or results of a product and expectations. So, satisfaction is a function of perception or impression of performance and hope. If the performance is below expectations, the customer is not satisfied. If the performance meets expectations, the customer will be satisfied. If the performance exceeds expectations, the customer will be very satisfied or happy. The key to generating customer loyalty is to provide high customer value.The relationship between customer satisfaction and loyal customers is disproportionate [2], for example, customer satisfaction is ranked on a 1-5 scale, namely:

    1. Customer satisfaction at a very low level (level 1), most likely customers will move away from the company and speak ill of it.

    2. Customer satisfaction at level 2 to level 4, customers feel somewhat satisfied, but it is still possible to move when a better offer appears.

    3. Customer satisfaction at level 5, customers are very likely to buy back and even disseminate good news about the company.

    High satisfaction or satisfaction creates an emotional bond with the brand or company and is not only fixated on reasonable choices.While satisfaction according to Kotler and Armstrong (2001: 9): Consumer satisfaction is the extent to which the assumption of product performance meets the expectations of buyers. If the product’s performance is lower than the customer’s expectations, the buyer is satisfied or very happy. According to Zeithaml and Bitner (2000: 75) the definition of satisfaction is: Consumer response or response regarding fulfillment of needs. Satisfaction is an assessment of the features or features of a product or service, or the product itself, which provides the level of consumer pleasure related to meeting consumer consumption needs. Consumer satisfaction can be created through quality, service and value.

    Customer expectations are believed to have a large role in evaluating product quality (goods and services) and customer satisfaction. Customer expectations basically have a close relationship between determining quality and customer satisfaction. Customer expectation always exists because of four things (Kertajaya, 2004):

    1. Individual Need or individual needs

    If your customer already has high demands, then his expectations are definitely high too.

    1. Word of Mouth

    Customers can have certain expectations because of other people’s stories. Other people’s stories are often seen as references.

    1. Past experience or past experience

    People who already have good experience in the past will be able to receive services at least the same as they used to be. If not, he will be disappointed.

    1. External communication or external communication

    It is an attempt by the company to promise something to customers in order to attract customers.

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    Source by Yufi Priyo

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  • Entrepreneurship Ideas

    Entrepreneurship Ideas

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    The world is full of need. Need is the foundation of business. Ergo, the world is full business opportunities. This analogy is true being that products and services are generally created to respond to a given social requirement. Food, shelter, security, comfort, entertainment – these are needs commonly recognized and catered by experienced entrepreneurs. This is probably the reason why there is an abundance of restaurants, convenience stores, rental apartments and townhouses, security agencies, spas and clubs in communities around the world. If you are a first time entrepreneur who wants to penetrate the business world, you have got to tap innovative entrepreneurship ideas. Otherwise, you’ll just be drowned out by senior competitors.

    Many of those the established entrepreneurs we have today made their mark in the industry with unique businesses thoughts. They even sought to address needs which were not that recognized by people. Socialization and information are human desires that have given some ingenious individuals access to the big bucks. Facebook and YouTube are ground-breaking entrepreneurship ideas, made real, that dared to redefine the concept of modern entrepreneurship.

    Honestly, it’s hard to top what these young industrialists have achieved. But aspiring businessmen need not feel discouraged about losing out. Here are some creative business proposals that might just get you that free slot with the big shots.

    1. Search Engine Optimization and Web Design
    Given the popularity of the use of the internet and the emergence of online businesses that wish to hit it big in search engines, these services are bound to be profitable. It can be done on a project basis so you don’t have to be committed to something long term. You can even keep another job while running such a business. Moreover, resources for SEO and web design are 50% free and the tools you use for it can be paid by monthly basis. Downside is you have to learn. Search engine optimization and web design aren’t complicated. But they will require some time investment in the beginning. What some start up entrepreneurs do is act as middle men for SEO and web design requests and outsource the tasks to cheap but capable Filipino or Indian specialists.

    2. Deliver Anything Service
    People are very busy nowadays and have hardly enough time to run errands. Running a deliver anything service is gainful considering that you would be able to cater to a large market with basically the same need – fast, efficient delivery of goods. You can be contracted by a studio owner who wants to deliver an important footage to a television station in another side of town; or a mother who wants to get her son’s lunchbox to him while he’s in school in one hour or less; or a businessman who wants to get a gift sent to a client living in another city within the day. The downsides are: it will require a hefty sum of capital and that you have established competitors known as the internet and couriers. Information sharing is fast and cheaper via emails and collaborative folders. And couriers basically give the same service. You’re only advantage is you are not fickle with what deliveries you make.

    3. Events Organization
    This is a fun business and it will challenge all aspects of your being an entrepreneur, from marketing to planning to budgeting and execution. You can cater to weddings, corporate parties, birthdays, baptisms etc. You will be able to widen your network as you pursue this service. And unlike the previous entrepreneurship ideas, YOU WILL NOT BE INVESTING ANY CAPITAL. You just got to establish a reputation and exert effort. You can start small. Start with friend. Get his/her money, spend it wisely and secure a high level of satisfaction. Marketing is basic word-of-mouth. If you do well, you will have a hoard of fans in no time.

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    Source by Greg Peter Candelario

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  • The Internet Lifestyle For College Students

    The Internet Lifestyle For College Students

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    The reality that most college students are facing when they graduate from school are either.

    One.

    They will not be able to find a job.

    Two.

    If they do find a job, it won’t be the one that they want to work at.

    Which is why starting an internet business in their dorm room and working on it around their schedule is the best option for them.

    Many go out and do part-time work, but that is really a waste of time.

    Students would better off using that same amount of time to working on an internet business that will start bringing them in passive income.

    There are 2 types of income that you can earn.

    Active income- the amount you are paid for by the hour for being there.

    Passive Income- money coming to you, whether or not you working or not!!

    See the difference?

    Your main goal in your career is to set up a business that allows you to earn MASSIVE passive income daily!!

    This what the schools aren’t teaching their students and it is a huge problem in our society.

    Okay, now that you understand the difference between active and passive income.

    Here are the 4 steps to starting your online business from your dormitory and living the internet lifestyle.

    1). Target a market or niche.

    2). Set-up a 1-page opt-in site.

    3). Drive a lot of traffic to that site.

    4). Monetize that traffic.

    This is an outline of what your internet business should look like.

    Now, let go little more into details here about each step.

    Targeting a niche.

    Do your research and find out what type of problems your classmates are facing in school or look to find a product or market that is being underserved.

    Once you find it.

    Go get a product or service that can solve that problem.

    It’s really that simple.

    Also, make sure that the market you choose is full of hungry prospects.

    Because the market will always determine the niche that you choose.

    After you find your affiliate product.

    Buy a domain name and set up a 1-page site.

    You will need to write up a short 12-page report that you give away to people who opt-in to your newsletter.

    Your report must be of value to your prospect, because you want to build trust with them.

    Next, do videos to drive traffic to your site.

    I would interview experts and then link your site in the resource box.

    Start a Facebook group as well.

    Write a few articles or share some in your newsletter.

    The next thing is to start making money from all your previous efforts.

    You should have already signed up with a ClickBank/Commission Junction and any other affiliates.

    It’s free too, so don’t worry about that.

    I like to contact companies who don’t have an affiliate program and then help them create one and create a distribution channel from it.

    Look, this is just an outline that any college student can use.

    Keep in mind too.

    This only cost you about 30$ to start and you can use that money bootstrap your way from there.

    ACTION TIP

    Get started today on doing your market research and find a hungry market and then follow the steps I gave you here in this article!

    Good luck!

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    Source by Thomas Jay Daniels

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  • New Book Removes Fear From Sales With Practical, Easy-To-Implement Techniques

    New Book Removes Fear From Sales With Practical, Easy-To-Implement Techniques

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    As a small business owner, I found Greg Andersen's Small Business Sales, WTF (Without the Fear) full of practical advice, new ideas, and down-to-earth common sense to help me rethink my sales approaches. Andersen has been in sales for many years in the printing business, but the advice he offers is applicable to anyone in sales, especially small business owners who may be wearing all the hats themselves or unable to focus on sales because they're too busy looking after everything else.

    Small Business Sales, WTF is divided into two sections: Pre-Sales Planning, in which Andersen discusses products, going to market with products, creating a sales environment, and then The Sales Process, in which he explores how to find customers, make contact , get the opportunity to sell to the customer, execute the sale, and then follow up with and retain the customer long-term. Andersen walks readers through each step of the sales process, providing practical and personal examples of what has worked for him that readers can easily model or put their own spins on.

    Andersen writes in a humorous but tell-it-like-it-is style to dismiss myths about the sales process and cut through sales jargon to get to what the reader really needs to know. For example, early in the book, he has a list of "Words / Phrases you will not hear in my book." Among the phrases included is "Belly-to-Belly" to which he responds, "Gross. How about face-to-face." Another phrase is "Low Hanging Fruit," which he says does not really exist, and still another is "Hook," which he finds insulting because it assumes customers are suckers or fish. Instead, Andersen prefers to treat his customers like human beings and rather than "close the sale" come to an "agreement" between two parties who trust and respect each other.

    For most people, sales can have a bad name. No one likes being sold to, and people who reluctantly take on a sales role are aware of that and often fearful of selling. Andersen teaches readers how to remove the fear of sales by rethinking what sales really is. Most people dread the "cold call," so Andersen talks about instead viewing sales as "demand generation." It's about looking for where there is a demand for your services and then providing the product or service to fulfill that demand. It's also about listening to customers.

    Andersen states: "When all is said and done, only a few methods of outreach will really get you in contact with a prospective new customer-the phone, letter writing, a trade show, and email. What really counts is the technique you employ . " He then provides creative examples of how to handle sales through each of these approaches, as well as discussing social media as a sales strategy. His examples are drawn from personal experiences, from his days as a shoe salesman at Nordstrom to his current sales role in the printing industry. Best of all, he even includes copies of letters he has sent to clients. His techniques are simple and straightforward, so anyone, no matter how scared of sales, can implement them.

    Of course, there will be difficult clients or people who don't want to hear how you can help them. Andersen provides strategies for getting past the gatekeepers to the decision makers. He reveals his research techniques, which are quite clever and even include looking at prospective customers' job postings to determine who in a company is or will be in a buyer position for his product.

    When facing resistance from a potential client, Andersen realizes it's not always about him, his approach, or his product. I loved the following invaluable point he made: "Another way I like to approach these challenging situations is to remind myself that all these excuses mean the customer is probably protecting his current vendor. If he is being loyal to his current vendor, some day he will be loyal to me. Stay positive. " Personally, I know this is true as a business owner. If I have a vendor providing me with a good service at a good price, I feel loyal to that vendor and am not willing to change. Such clients may be resistant to change, but they are the ones you want because they are loyal. Andersen shows how persistence pays off in these situations. Sometimes he makes contact with customers who are not in need of his services right then, but years later, he secures business with them, and even if at first he doesn't get the level of business he wants, they often will give him some business as a trial and then he can work his way in to larger sales with them.

    Perhaps what I liked most about Andersen's approaches is that he truly believes in being responsive to clients. I cannot stress enough how frustrated I feel when I send an email to someone who does not reply to me for several days. I am personally always very responsive to my clients and usually reply within hours if not minutes. Andersen points out that even if you don't have an answer to a client's problem or you can't take the time to respond to a question at that moment, a simple response like, "I'm on it," lets clients know you will get back to them and then they can quit worrying about their problem and go on to the next item on their to-do list until you do get back to them. In other words, Andersen is always in favor of reassuring the client that you will do what you say and provide reliable and quality service.

    Altogether, Small Business Sales, WTF does take a lot of the fear and stress out of sales. I believe most readers will be pleasantly surprised by this book; they'll read Andersen's stories and examples and say to themselves, "I can do that," and even find ideas of their own popping into their heads as they build off of Andersen's advice. Whether you are a small business owner with absolutely no sales experience, are just starting out in sales, or have been in sales for years, there are plenty of nuggets of advice here that can make your sales process easier, more lucrative, and all around more enjoyable.

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    Source by Tyler Tichelaar

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  • The Entrepreneurial Success Plan for Coaches

    The Entrepreneurial Success Plan for Coaches

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    Many coaches know they have been blessed with a gift to coach but are not confident with the part of being an entrepreneur. Sadly, the number of coaches who don't succeed is probably far greater than the number of coaches who succeed.

    If you are a coach that is self-employed it is critical to the life of your business that you are equipped with skills to succeed as a business owner. You can't simply focus on being an amazing coach, you must also be an amazing CEO. That means running your business in a way that it will succeed even during the toughest times. This article is going to share some tips to help you achieve and maintain entrepreneurial success as a coach.

    1. Hire a business coach or take business classes:

    There are business coaches and business classes that specialize in helping coaches to grow their business. Don't feel like you must "go at it" alone because you don't. And don't wait until your business is in trouble to seek guidance. This is something that should be done frequently so that you can stay "on top of things."

    2. Know the specific problem you solve:

    It is important that you know the specific problem you solve for your clients. Most of the time problems equal some level of pain, frustration, or dissatisfaction with life. So when you can solve problems for your clients you can help them live a happier and more fulfilled life. And that is priceless. And knowing the specific problem you solve also helps you to market your business better, attract your ideal clients, and stand out in your niche.

    3. Don't be afraid to charge for your services:

    This is huge because in order to stay in business you must make money. And you absolutely can't charge fees that are so low that you can't keep your business doors open. Now this doesn't mean you have to charge such a high fee that you are out of the reach of your ideal clients, but neither does it mean that you should charge so low that you are struggling financially in your life and in your business.

    Having the right money mindset is essential because it will empower you to break through fear, doubt, and other issues around you charging the fee you truly desire. Not the fee that you feel like people will pay you, but the one that is fair to both you and your clients. And there is a way that can be done so you will still feel authentic and in divine alignment.

    4. Stay motivated:

    This is a key piece to entrepreneurial success that is often overlooked. Why? Because most of the time when we hear the words "entrepreneurial success" we think of things that are happening externally, like working with a business coach, taking business classes, or learning marketing skills. But motivation is the fire under everything else. Because without motivation no real action is being taken.

    Keep pushing toward entrepreneurial success and refuse to give up. You will have some good days and you will have some not so good days but keep moving forward. Keep focusing on the reason you decided to become an entrepreneur and let those reasons continue to fuel your success. Believe in what God has purposed you to do and trust divine wisdom, and guidance. And if you ever feel your motivation getting low fuel up by listening to things or reading things that inspire and motivate you.

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    Source by Dr.

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  • Ready for a High Impact Mindset Reset?

    Ready for a High Impact Mindset Reset?

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    Your mindset, your thoughts, can buoy you up, inspiring you to take courageous action, or they can drag you down, keeping you up at night with worry and paralyzing you with fear. Even though our brains are wired to dwell on the negative, on past mistakes, how we think in this moment is something we can control.

    Changing our minds in the present moment can be hard work! I know from experience that when things aren’t going well, one of the toughest things to do is to turn your mind from impending doom to what is possible and what can be done.

    The good news is that the more you practice these mindset boosters, the easier they become. They do, in fact, become habits that kick in when you need them the most.

    The even better news is that the more you practice them, the more impact both you and your company will have. Staying on track and not allowing yourself to be pulled down will save you a lot of time and energy. The time and energy you free up can be spent on your company’s financial performance and having impact.

    S0 let’s look at ways you can do a mindset reset and the practices that will support you in doing so:

    The Future Doesn’t Just Happen – You Shape It Every Day

    Have you ever seen or read about people in the direst of circumstances who are transcendent, happy? And others who seem to have everything, and yet feel deprived? The way you choose to think about a situation, the parts of yourself that you call on, even dig deep for, are what determine your present and your future. Your thinking is integral to your character.

    When things look negative, question it. There’s always a way to think about a situation that includes a gift, an opportunity. This may seem contrived at first, but think about situations where you’ve suddenly had a shift in perspective and a solution appeared, seemingly out of nowhere. That’s the effect you want to be able to call on.

    “Circumstance does not make the person,

    it reveals the person to himself or herself.”

    ~James Allen

    People become leaders of successful, impactful companies by becoming the people who can lead those companies first. They walk with integrity. They make smart decisions. They step up and into opportunity with courage. They acknowledge their fears, but don’t indulge them. They learn and grow.

    You are becoming the leader of your high impact company right now, in how you show up every day. Treating people with respect. Listening to ideas. Choosing how you use your time and energy. Making decisions with your mind AND your heart.

    You can shape your future by consciously developing the mindset of the leader who leads your company in these ways.

    Doubling down on mission is one way to ensure that your company moves more in the direction of your impact. New Belgium Brewing became a benefit corporation in 2018, ingraining its commitment to internal and community impact in its legal framework, and is now the fourth-largest craft brewery in the US.

    Fear and Getting Through the Storm

    We all have fears. Fears about how the company will do financially this year, about that crucial new hire who looks promising but is unproven, or about how your new offering will fare in a busy market. Fears can abound, especially if nurtured and given attention.

    “The future you constantly worry about

    Is nothing other than a projection of fear and desire from the past.”

    ~Thich Nhat Hanh

    Fears can instead be a tool, an indicator. They can lead you to research, to ask good questions, and to explore options. As long as you don’t allow fears to take over the present, they can actually be valuable.

    One way to be vigilant about fears is with mindfulness. Mindfulness, that focus on the present, is more than a business fad. It’s a practice that decreases stress and increases productivity.

    The leaders of outdoor apparel maker Patagonia are committed to using their successful company as a vehicle to put mindfulness into action. Patagonia founder Yves Chouinard describes navigating what could be a terrifying Class 4 rapid as a teaching:

    • look ahead and prepare

      • be proactive
      • don’t ignore what is coming
      • think through scenarios
      • do what is necessary to get ready to the best of your ability
      • trust that you can handle whatever happens


    • go into a drop

      • take calculated risks
      • once you decide, follow through wholeheartedly


    • read the river

      • be vigilant
      • be perceptive
      • adjust as needed.

    That intuitive process has helped guide his business for the last 50 years. Chouinard believes that if the process isn’t sound, if your intentions don’t come from the right place, the outcome, even if profitable, doesn’t matter.

    Practicing wisdom by making decisions from a place of love rather than fear can open the door to creative solutions. When Patagonia’s CEO Casey Sheahan was faced with laying off 150 employees during the financial crisis, shortly after he took over from Chouinard, he was torn up about the decision. His wife asked him, “Are you making this decision from a place of fear, or from a place of love?” When he realized that it was fear driving the layoff decision, he found another way, leading to unheard-of sales levels after a few rocky quarters.

    Fear can be a driver of decisions and actions, but they don’t have to be. Elizabeth Gilbert in her book, Big Magic, tells the story of treating her fears like an inevitable passenger on a road trip. Fears can and will be there, but they can Never. Ever. Drive.

    Focus on Your Impact

    Do you find your Impact Purpose, a clear statement of the impact you want to have, inspiring? Does it fill you with energy? If it doesn’t, at least most of the time, you might be on the wrong track. Your clarity about the impact you want to have, whether it’s social or environmental or both, can serve as the rock on which you build your impactful business.

    When you steadily focus on your Impact Purpose, you’ll find your thoughts turning from short-term pain to what you could achieve in your business and community. This thinking about others, and not just yourself, is a way to bring you out of the doldrums or away from unhelpful divergent thinking, and back into focus on your impact.

    Reinforce this by having your Impact Purpose statement in front of you, every day. Have it on your desk or screen. In your wallet. On your fridge. Wherever you will be regularly reminded of what you intend, personally and with your company.

    Plan your day and week with your Impact Purpose in mind. Include it in your decisions about how time, money, and resources will be spent, and with whom. Thoughts aligned with purpose are a powerful creative force. Fill your attention with something worthwhile.

    The greatest achievement was at one time a dream. Stay with your dream. It’ll be part of your becoming.

    You Are the Company You Keep

    You may have heard the notion that you are the sum of the 5 people you spend the most time with. That speaks to the influence that those around you have on your thinking and therefore on your actions.

    Some companies who are committed to having impact take this to a highly conscious level. Design firm LimeRed, led by Emily Lonigro Boylan, only works with individuals or organizations that have social impact. LimeRed only engages with clients whose values they share, who are kind and innovative, and who are also accountable to their stakeholders and communities.

    You as a business leader can also take this to another level by incorporating it into decisions about who you include on your team, your suppliers, and your partners. Do you vet who you work with every day through this lens? Do you extend this to your advisors, your pet projects, and your friends?

    You’re more likely to have impact when you devote all your energy and resources toward people and companies that also want to have impact in harmony with yours.

    Your mindset matters to your own fulfillment and well-being. It matters to your company, as you engage with your community and the larger world. Optimize your opportunity to have impact by doing this mindset reset.

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    Source by Ursula Jorch

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