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StrandRidge.com Business Updates
Friday, December 02, 2011
Biz Strategy
Today's Global Marketing Opportunity
Profiting From The Information Overload
Globalization is operating in tandem with the rise of a worldwide consumer network receiving and sending out information through the worldwide web at greater and greater volumes and speed. This has resulted in an ever widening gap between the evolving market demands and an ability of businesses to respond to these demands.
Ever increasing information about consumer taste and expectations is finding its way around the world and businesses are not processing available information about market demands fast enough to take advantage of the opportunities created through freer information flow.
Today’s consumer is ever more socially networked. Even those who are not linked up by computers are kept in the loop at social gatherings about opinions articulated over the internet regarding products and services on offer.
With courier companies able to deliver practically anywhere in the world and payment modes ranging from the internet to mobile phones and the more traditional banks and post offices, consumers can now shop for products from anywhere in the world. This means being the only store in town may not guarantee an exclusive local market share.
The good news is both local and global businesses can tap into this information overload with the help of business consultants who can provide services in data analysis, marketing and business planning that help increase sales to a more targeted market segment.
The challenge is to successfully build a community of consumers who can provide feedback and act as advocates of your products or services to a wider web of consumers.
Businesses need to develop the ability to use the data available to define their brand image in the minds of consumers. The alternative would be that consumers may end up defining the brand and image of businesses. Once a negative image becomes linked to a particular business it could be transmitted virally throughout the internet and into the real world where consumers experience a product, service or brand.
A healthy food cafe believed that they were in business to serve a health conscious segment of a local community. They did not realise that if they were to shift their marketing focus to emphasising that “healthy ingredients means tasty treats” they would find the long lines of customers that frequent the many local outlets of a global speciality cafe chain willing to switch to their delicious healthy offerings. This information could be gleaned from feedback available through social media discussions.
Too many businesses feel overwhelmed by the countless channels of information flow. They often wonder which medium for marketing would be best. Local consumers are just as much influenced by what they read from global electronic sources as they are from local newspapers.
Technology is not the problem. Rather, it is the solution. What today’s businesses need are partner consultants who can help them identify the information that they need to shape their marketing strategy in order that they may plan for success.
Siddha Param
International Business Consultant
www.worldwidebusinessconnection.com
Your connection to global markets!
Winnipeg, Manitoba, Canada, North America
The geographical center of the world’s largest market.
Profiting From The Information Overload
Globalization is operating in tandem with the rise of a worldwide consumer network receiving and sending out information through the worldwide web at greater and greater volumes and speed. This has resulted in an ever widening gap between the evolving market demands and an ability of businesses to respond to these demands.
Ever increasing information about consumer taste and expectations is finding its way around the world and businesses are not processing available information about market demands fast enough to take advantage of the opportunities created through freer information flow.
Today’s consumer is ever more socially networked. Even those who are not linked up by computers are kept in the loop at social gatherings about opinions articulated over the internet regarding products and services on offer.
With courier companies able to deliver practically anywhere in the world and payment modes ranging from the internet to mobile phones and the more traditional banks and post offices, consumers can now shop for products from anywhere in the world. This means being the only store in town may not guarantee an exclusive local market share.
The good news is both local and global businesses can tap into this information overload with the help of business consultants who can provide services in data analysis, marketing and business planning that help increase sales to a more targeted market segment.
The challenge is to successfully build a community of consumers who can provide feedback and act as advocates of your products or services to a wider web of consumers.
Businesses need to develop the ability to use the data available to define their brand image in the minds of consumers. The alternative would be that consumers may end up defining the brand and image of businesses. Once a negative image becomes linked to a particular business it could be transmitted virally throughout the internet and into the real world where consumers experience a product, service or brand.
A healthy food cafe believed that they were in business to serve a health conscious segment of a local community. They did not realise that if they were to shift their marketing focus to emphasising that “healthy ingredients means tasty treats” they would find the long lines of customers that frequent the many local outlets of a global speciality cafe chain willing to switch to their delicious healthy offerings. This information could be gleaned from feedback available through social media discussions.
Too many businesses feel overwhelmed by the countless channels of information flow. They often wonder which medium for marketing would be best. Local consumers are just as much influenced by what they read from global electronic sources as they are from local newspapers.
Technology is not the problem. Rather, it is the solution. What today’s businesses need are partner consultants who can help them identify the information that they need to shape their marketing strategy in order that they may plan for success.
Siddha Param
International Business Consultant
www.worldwidebusinessconnection.com
Your connection to global markets!
Winnipeg, Manitoba, Canada, North America
The geographical center of the world’s largest market.
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