Five Qualities Ensuring Marketing Strategy Success

Marketing is itself a strategy and so no marketing plan is completely fool-proof. There are some qualities that must be met to be able to consider it effective and this will help in converting customers to make marketing successful. A marketing plan is a frame work that must be followed to transform into a killer strategy. Here are five qualities proving its capabilities in the marketing strategy.

Focus on the product

Product focus is not simple as it always is focused towards the market. The product varies in demand depending on the age, gender and trend. In case it is about clothing, then women in 50s if they are working would prefer formal, quality and semi formal dresses, while the youngger adults may have a different focus on the product. In case you also have shoes to offer, you can help women show how they can look tall and in this way this will include shorter women who would love to gain height, so your marketing focus widens more effectively.

Focus on the market

The market focus should be defined. It is impossible to please everyone and if you try doing so, you are going to be under severe pressure and ultimately result in losses. Focus on the market fashion, but decide first if your focus is with male or female and without fail consider the age factor. By focusing on the market you will see the likes of your target audience. The other factors worth considering are the purchasing power of your audiences. If you find there is a diverse taste, set your goals by dividing, choosing and conquering the market.

Have measurable information

Anything to be marketed should be quantifiable and must be ideally in numbers. Include all the details, major and minor as detailed information has a crucial role in marketing. A strategy is a must for any good marketing plan to see success. The plan that is the marketing strategy should be measurable to know the ROI. If your business is new, you can have both marketing plans, short and long. They can be interconnected. However, ensure the goals are attainable.

Accountability and responsibility

Marketing strategy is about being accountable and this in combination with responsibility alone paves way to success and to achieve better results. Marketing plan fails to work in groups than individuals. It is best for each individual to have a specific task and to bring good results. At the same time paying attention to individual's accounting helps you keep a vigilant eye on their handling of responsibilities. Without fail reprimand the failures and do not forget to reward the achievers. A perfect marketing plan requires absolute involvement that one must be committed to it. Each person should know their job and also should be aware of the consequences.

Reviews

A marketing strategy is a planning process and an effective marketing plan handles everything from tracking performance to setting goals and measuring the units quantifiable. However, regular reviewing and revision is essential. Do not wait until the last day, keep reviewing regularly and change the plans in-between if essential.

Annual Multi Trip Travel Insurance Explained

An upshot of the escalation in the availability of discount flights and budget accommodation has been that more and more Australians are heading off overseas. Combine this with increasingly hectic schedules and you see more people taking a number of shorter breaks than one or two extended holidays. As a result, Australia's frequent travelers are discovering the remarkable value of annual multi trip travel insurance. If you're buying individual single trip travel insurance policies every time you go overseas you could be spending more than you need to on your travel insurance.

To ensure that you are choosing the most appropriate cover, think about the holidays, business trips and school trips you, your partner and your family are likely to take this year. If you're planning to travel overseas more than once, then buying an annual multi trip travel insurance policy could save you both valuable time and money compared to the inconvenience and expense of taking out several single trip travel insurance policies.

Annual multi trip travel insurance is a great way to guarantee that you are covered for all your trips, even those last minute breaks. An annual travel insurance policy will also give you peace of mind as you will not find yourself in the situation where you've forgotten to ensure that your travel insurance cover is in place. Once you have bought your policy, you can sit back and relax for the next 12 months knowing that both your leisure and business trips are suitably covered.

Here are a few things to look out for when buying annual multi trip cover:

¥ What is the maximum duration you can be insured for any one trip? Most policies have a maximum number of days for leisure travel and a maximum number of days for business leisure. If you are planning to be away for longer then you should look at buying a single trip travel insurance policy.

¥ Are you too old? Most policies have a maximum age.

¥ Is there a limit to the total number of trips through the year?

¥ Does it cover business travel?

¥ Does it allow your partner or children to travel on their own?

¥ Does it cover frequent flyer points?

¥ Does it cover trips within Australia?

Lessons Learned From An E-Commerce Adventure

It is better to have tried and failed than never to have tried at all; and even more important to learn from your mistakes.

That is what I keep telling myself after having invested the time and cash equivalent to a Harvard MBA in an e-commerce start-up that has stalled and is winding down. Not a happy prospect in light of all the media pre-occupation with e-commerce success stories and the young millionaires watching their IPOs rocket into cyberspace. But the headlines ignore the more frequent stories of new e-commerce businesses that do not hit the stock market jackpot. Many of them either settle into a low-key niche or exhaust their resources and fold.

This is the story of an Internet venture that did not make the headlines, but offers some useful insights for entrepreneurs evaluating their own initiatives. The lessons learned are applicable to your own new venture or to an investment in someone else’s.

In mid-1998 we launched a new company called nxtNet (www.nxtnet.com) with the slogan … “taking you to the next level on the Internet”.

My partner and I both had prior successful entrepreneurial experience in computer products and wanted to start a new venture together. We decided to develop a business that would catch the next wave of e-commerce services for mid-sized companies seeking to do business on the Internet. After long discussions, searches for a unique service offering, and many draft business plans, we developed a market strategy and then chose Intershop Communications as our software development platform. This product had the advantages of being suitable for single or multiple online storefronts, and offered a flexible, economic and comprehensive solution. We committed to the product, staffing, facilities and equipment to start training and development immediately. The two of us provided the time and cash required to get started.

By October 1998, we had an initial product with application as an online storefront for an associated computer business. At the same time, we realized that the application had wide appeal to other computer dealers and could be sold as a multi-user database service and e-commerce resource. We had developed a consolidated catalogue of 85,000 computer products from multiple distributor product databases that allowed rapid search and comparison for product information, pricing, and current sources. Users could access the catalogue from the Internet and find a product by manufacturer, category, and part number, key word or price range and immediately see the alternate sources and prices with links to more technical information, preferred dealer pricing and actual stock levels. Additional features allowed the catalogue to be customized so that any computer reseller could present the database as his own online storefront. This option offered all the search and product information features to his customers, but showed only retail pricing and enabled the online ordering process.

The product offering quickly received positive feedback and strong indications of support from all the participants – resellers, distributors, and manufacturers. It was a comprehensive, powerful, and effective tool for buying and selling at all levels within the Canadian computer distribution channel. Resellers recognized the value in an online resource to save time and effort. Distributors and manufacturers saw the opportunity to promote their products, and major publishers in the industry wanted to offer complementary online services to their subscribers and advertisers. How could we fail with all this enthusiasm and support?

While the potential for success clearly existed, everybody had the same questions and reservations – “Who is there now?” “How many are using it?” and “I don’t want to pay until it’s bigger”.

Reasonable objections we thought, so we added features and content for free. We promoted the product with free trials and low cost subscriptions for reseller access. Then we coaxed, persuaded, sold hard, and made deals. The “contra” became the standard for obtaining press coverage, free ads, mailing lists and promotion in exchange for free participation and future consideration. Activity on the Web site and catalogue grew to 3000 visitors per month with over 800 subscribers and the distributor list increased from three to twelve.

But revenue remained near zero as most reseller subscribers declined to pay for the service. Reasons were “it should be free – let the advertisers pay”, “I don’t use it enough”, “there are lower cost options”, or “we built our own solution”. The audience did not grow fast enough even after we offered it for free, to satisfy the advertisers and content providers. Without persistent and conspicuous sales and marketing efforts, all the participants quickly lost interest. Meanwhile the costs of database maintenance, ongoing development, site hosting, Internet access, sales, marketing, and administration were increasing.

Clearly the old entrepreneurial model of controlling costs and growing revenue was not going to apply. We had to realign our profile to show how zero revenue and high initial costs could still lead to significant investment returns like other well-known Internet ventures. So from early 1999 we started an aggressive search for financing, estimating our requirements at $500,000 to $1,500,000 over the next two years before achieving positive cash flow. More business plans, spreadsheets, and glossy presentations to demonstrate future valuations up to $20 million, even $40 million.

We knocked on many doors, from banks to government agencies, from angel investors to venture capital, from stock promoters to business consultants, and again received lots of encouragement, but no financing. So the founding partners were faced with a continuing cash drain, no relief in sight, and the limits of their own resources rapidly approaching. It was time to put the project on hold. Strategic partners or investors might still be developed to proceed with the project, but the ongoing expenditures were stopped in late 1999.

So what are the lessons learned? We already knew that nothing ventured, nothing gained. We now also knew that big successes in the new economy require big investments. Entrepreneurs may start small, but large investments will be required from new sources to achieve significant success. And no one will put significant money into a venture unless it is the only remaining requirement.

The concept, product, development, marketing and staffing all have to be in place before an investor will provide the final ingredient – his cash. Exceptions are likely only where the management team has already succeeded in the same arena, or the investor himself can deliver the missing elements, such as customers or management skills. No investor is going to take the chance that the entrepreneur with a good concept or product will also be able to deliver the required management and marketing skills to succeed, after he has the cash.

Next time we will know better. And there are side benefits from this expensive learning experience. I can now admit that with the knowledge gained through our association with Intershop Communications, I was confident enough to make an investment in their stock on the German Neue Markt at 65 Euros last year. It went over 400 Euros last month and is still rising with their rapid growth and the prospect of a NASDAQ listing this year. Almost enough to recover my investment in nxtNet.

So the most important lesson is that education in the new economy is essential, and not free, but it can lead to success outside the original plan. Learn, be aware, and be aggressively opportunistic.

Why Do People Travel?

Can you imagine what is life without traveling? Is it possible? Whatever your reason is, traveling is a part of people’s life. We all travel. The reason behind that is up to you.

There are different reasons why people travels:.

1.) Most People Travel because they want to see their families and friends who live far away. Invitations from families and friends are seldom so you will decide to travel just to see them.

2.) People Travel because they want to see their soul mates. Some people believe that there is only one person for them and if they haven’t had much luck searching in their area, they figured it out that even though there are millions of people around the world, they can still find it in other place.

3.) People travel to seek for work because they want to experience how to work from another place. We must admit that earning money is hard and some people decide to work abroad because they are looking for greener pasture. Other place pays bigger rates than their own place. We may also say that their expertise is not favorable in their own place. Unfortunately, they have to leave their families for awhile for a job opportunities abroad.

4.) People travel because they want to learn others cultures. They want to see the difference between their culture and other cultures. They want to learn others culture because for them traveling is fun while learning. One particular thing about the culture is the food. They want to know how food is prepared and how it is done. Obviously, we all love to eat.

5.) People travel because they are writers. They want to give the readers relevant article to their readers especially when they are making story in that particular place.

6.) People travel because they want to see all beautiful scenery of different countries. Others would want to take pictures because it serves as souvenirs.

7.) When opportunity arise, it is hard to decide whether to leave your family and open a business far away your place. Some businessmen would rather put up business in other place because they want gain and it is more profitable than staying in their place. Business is nothing without profit.

Traveling is not only for rich people. Whether you are poor or in the middle class, you can travel as long as it fits your budget. Some travel for their goals, some travel for fun and relaxation and some travel for experience.