29 Dec 09 3 Marketing Tools for Small Business

A small business differs from a big business largely on the scale of operation. A small business does everything that a big business does but only on the smaller scale with a more personal touch to the activity. Still, there are tools of big business that a small business can also use. In this article, I will talk about 3 such tools. How you use these tools will determine how much you succeed in your marketing effort.

SWOT

SWOT stands for Strength, Weakness, Opportunity, and threat. Strength and weakness is internal to the product, whereas, opportunity and threats are external to the product. We use this matrix to find out strengths and weaknesses of our product, see what opportunity (matching our ability) the market is presenting, and gauge the threats presented by the market.

PLC

PLC stands for Product Life Cycle. A PLC study of your product gives you an idea about what stage your product is in, and what marketing channel and strategy to use. We divide PLC in following parts: introduction, Growth, Maturity, and Decline.

Introduction is the phase when the product is introduced to the market, and the organization is striving to create awareness about the product. Profit in this phase is either negative or low.

Growth is the phase in which the product gets acceptance, which results in increase in sales. Profits are high in this phase, and to cash in on the momentum the product has got, organization tends to invest some advertising dollars.

Maturity is the phase when sales start slowing down because most of the buyers have your product. Sales and profit has already passed its peak. Sales and profit may not be increasing but they are steady.

Some marketers divide this phase into early maturity and late maturity to figure out how close the product is to decline phase.

Decline is the phase when sales and profit both starts falling. It could be because the need of the market has changed and some better product is fulfilling that need, or because some other product is meeting the same need at lower cost.

From this phase either the product dies out in oblivion, or get reinvented, reintroduced and pushed on the growth track.

PESTEL

Some call it PEST while other calls it PESTEL. I have taken PESTEL because it is more complete a matrix then PEST. PESTEL is a macro-environment scanning matrix that helps a business find out how the various external factors going to affect it. PESTEL Stands for:

P: Political factors (Policy changes and how it is going to affect you)

E: Economic factors (economic growth, exchange rates, inflation, interest rates, and taxation changes are going to affect your business)

S: Social factors (How does social changes like, education, demographic, occupational, etc., going to affect you)

T: Technological factors (How advent of new technology will affect your business)

E: Environmental factors (How change in climate or rising temperature can affect your business)

L: Legal Factors (how change in legal environment going to affect your low. How much will your business suffer if the carbon emission level is set lower, and government pension plan is made mandatory for every organization, regardless of size?)

PEST matrix analyzes all the factors we discussed above except for the last two.

Tags: Big Business, Decline, Marketers, Marketing Business, Marketing Channel, Marketing Strategy, Marketing Tools, Matrix, Maturity, Momentum, Opportunity, Peak Sales, Personal Touch, Product Life Cycle, Profits, Small Business, Strength And Weakness, Strengths And Weaknesses

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25 Sep 09 Finding An Information Technology Job

Jobs in Information Technology are many, and it’s a field that’s ever expanding. As we become more dependant upon computer advancement, and more overall integration with the internet, more jobs open up each day in the IT field. The biggest key to success isn’t in finding a job itself, but in finding the right job amid the mix. When you find yourself going into the job pool, you’ll always see plenty of IT opportunities, you just have to sort them the best way.

Pick out what’s important to you at a job. For most people a good job has decently high pay, good opportunity for industry growth, and plenty of job openings so that you have a good chance of getting a job. Those requirements are usually a good place to start. Industry growth is important, so that your company can stay relevant, and you can ensure a reasonable amount of job security. When they’re hiring for more opposed to fewer job openings, you have a better chance of getting a job. High pay speaks for itself. Who doesn’t want that?

From that you can formulate a list of the job openings that best fit what you’re looking for. Then you can concentrate on those openings. Do your research about the companies offering the work, and tailor your cover letter and resume to apply to each company individually. Putting in the personal touch will separate you from the field, as most people use generic cover letters and resume formats. Even though that’s a huge mistake, as they’re easily spotted by hiring managers, and are very frowned upon.

If you find you have more than one offer, weigh the options between both jobs. If job stability isn’t a huge concern, and you’re willing to take the risk for a chance at more money, go for that job. Weigh your comfort zones against what’s available to you, and choose the job that you’re most likely to succeed with. Making a name for yourself in one place carries weight in the IT world, so take advantage of your opportunities.

Tags: Better Chance, Cover Letter, Cover Letters, Finding A Job, Finding Jobs, Finding The Right Job, Getting A Job, Good Chance, Good Job, Hiring Managers, Information Technology Job, Job Information, Job Openings, Job Pay, Job Requirements, Job Security, Mistake, Personal Touch, Pool, Technology Jobs

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04 Jun 09 Make A Cover Letter Stand Out

In a job market that’s still a bit stale it’s more important than ever to make yourself stand out from the pack, and a fantastic cover letter is your first step to doing just that. A cover letter’s importance really can’t be understated, considering that is your initial introduction to the employer that you’re trying to impress. First impressions essentially mean more than anything else in practically all aspects of social interaction, and a job interview is no different.

With your cover letter there are a few guidelines you want to follow. First, stay on topic, an employer only really cares about what you can offer them, and how your experience and past qualities applies to them. You want to personalize the letter, never send a form cover letter as these can be easily spotted, and your lack of a personal touch will reflect negatively upon yourself. If you won’t put in the time and effort to write a good cover letter, how much time and effort are you going to put into the job once you are hired?

Never forget that the goal of a cover letter is to introduce yourself and then sell yourself and your unique abilities to the company with which you are applying. Your cover letter is practically an interview in itself, and you should treat it as such. Really sell yourself as the best candidate for the job, even if you yourself feel yourself to be under qualified. Never suggest that you feel that way however, nor should you defend your lack of experience in any way, as that will make you seem to lack confidence in your abilities, and you’ll appear on the defensive about the likelihood that you’ll get the job, and that’s never good.

Express the interests you have in the company that you’re applying to, and outline why you would like to work for them. Give specific reasons tailored to the company. But make sure always that your cover letter is in a business tone, shy away from using any humor as that usually doesn’t come off well, and make sure that there are absolutely no grammar mistakes. Grammar or spelling mistakes are horrifically bad for the first impression of the company you are applying to, and will be a red flag to any employer that you don’t double check your work.

Tags: Confidence, Cover Letter, First Impressions, Humor, Initial Introduction, Job Interview, Job Market, Likelihood, Personal Touch, Social Interaction

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29 Dec 09 3 Marketing Tools for Small Business

SWOT

PLC

PESTEL

25 Sep 09 Finding An Information Technology Job

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