Blog - page 51

Companies need to monitor their online presence

Darryl Bachmeier Mar 16, 2019 Strategy

For the last few years, online shopping has taken off but with smart devices, local presence has become important. Google search ranks results of local higher and it is based on the location of the user. In fact, many websites and applications are asking the user to reveal their location to give a better experience. Business must be aware of their online presence. How their website appears and functions on a user’s device. Mobile technology is thriving. In developing markets, the use of mobile technology is far easier since there is no setup of the entire infrastructure. It is likely in these markets that online browsing and shopping will be done on a mobile device. Social Media such as Twitter and Facebook give another medium for customers to give feedback whether it is wanted or not. Businesses must pay attention to what others are saying about their business and brands....

Focus group for market research

Darryl Bachmeier Mar 15, 2019 Business

A focus group is a research technique to collect feedback from a small group of people. It is done in a group discussion where group members respond to questions given by the researcher/group moderator. It allows for the collection of qualitative data. A survey for example is designed to get large number of responses to often closed ended questions where respondents pick from set answers. This gives numbers that can be charted and analyzed to get a representation of a larger group. Focus groups on the other hand delve deeper to expand on issues. When used for market research it allows for collecting people’s view, understanding, attitudes and behaviors of the chosen topic. The group members, up to ten people, are a selected group of people who have experience of the topic. The researcher has chosen these individuals as they have met the target requirements of the type of members...

Empowering people to meet their higher needs

Darryl Bachmeier Mar 15, 2019 Leadership

Empowerment falls under transformational leadership. Empowerment is different from traditional management. Instead we are trying to develop people in to high level critical independent thinkers. Followers that are able to think outside of the box. They are capable of great innovation and creativity. Followers that have a sense of purpose and are aligned with the goals and values of the organization. We are trying to create new leaders. Leaders allow followers to take risks and get their hands dirty, which helps them to carve out a place in for themselves in the organization. Leaders through open communication and providing constructive feedback ensure that followers are in positions that are appropriate to their skill set as well as their personal goals. Leaders can seek lasting change for the organization over the long term. Advantages of empowerment for the individual follower is they can grow and develop ion the career and their...

Consumer behaviour – decision making process

Darryl Bachmeier Mar 15, 2019 Business

Consumers make their decisions of what products to buy and what factors have lead them to make their decisions. In order to be successful companies must try to understand all that they can about how consumers make buying decisions. They must also know how to segment consumers into groups that are most likely to buy certain products. Culture, subculture, group associations all have varying degrees of influence on our decision making process. We pick up new behaviours and attitudes from those we associate with. One of the first groups to set our orientations is the family group. As we go through life our attitudes, beliefs and values change. Major life events can cause us to increase our spending on products or services we may never think we needed. When it comes to making decisions we can make both rational and irrational decisions. Consumers usually follow methodical methods to determine their...

Market segmentation of target customers

Darryl Bachmeier Mar 14, 2019 Business

You cannot sell your products or services to every single customer. It is just too expensive to try and reach everyone. What you can do is focus on smaller groups of customers who are more likely to buy your products therefore increasing the efficiency of your marketing efforts. One way to do this is by segmenting your customers by age. Grouping the customers by age allows you to identify those customers who are more likely to share common interests, priorities and needs. You must also consider the six Macro Market Environment Influencers as each affects age demographics differently which also causes changes to your marketing decisions. Beyond the control of your organization, the Macro Market Environment Influencers cannot be thought of as separate as they all influence each other. A new trend in one may cause a chain reaction throughout the others. These changes will affect the customer population, pricing...

Managing a team with performance metrics

Darryl Bachmeier Mar 14, 2019 Teams

Managing team performance is essential to ensuring a high performing team. There are several things that a team leader must do to manage performance. A team leader must be knowledgeable about the business, industry and know the strengths and weaknesses of all team members. A team leader must make sure that their team has the right people. It starts with selecting the best talent possible. After selection of talent, it continues by monitoring the performance of individual team members, they will know who the stars are and who the bad apples are. Performance reviews with each team member must be scheduled on a regular basis. A review should allow the team member to discuss their tasks and allow the team leader to offer support or change of the workers tasks. It must be done in a way that shows the team leader is open, honest and fair. It should look...

Leaders vs Managers

Darryl Bachmeier Mar 14, 2019 Leadership

Leadership is simply someone who has one or more individuals who follow them. I think what makes a great leader is that the individuals freely choose to follow the leader while the leader conducts with grace, has the necessary wisdom and is able to create an environment that motivates and encourages teamwork. The differences between a leader and a manager are control and vision. A manager controls through human, physical and financial resources. Managers need to determine what takes priority and then focus their resources on that task or project. Their goal is to keep the “machine” running. We can hope this means as efficiently and safely as possible. A leader has vision to see what opportunities either exist or may be revealed in the future. Leaders are the entrepreneurs who create the business venture, spot competitors weakness and discover new market niches. Both leaders and managers are needed in...

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