All posts by blogger

Creating an effective business strategy for your wholesale business

By blogger on

Some people confuse business strategies with business planning. In actual fact business strategy is a merely a part of overall business planning. In short, business planning includes business vision, business mission, and business goals, while business strategy is the road that you will take to reach that goal. You may not need to set some fancy goals for a wholesale enterprise, still you can not start without having a well thought out strategy in place. You know that being a wholesaler, your basic job is to store, assemble, sort and deal out goods that you’ve got in large quantities from manufacturers (or other wholesalers). Outwardly, it is quite straightforward job that requires a storehouse, inventory management software, transportation, and distribution facilities; still you need a documented strategy to serve as a road map. Remember, before you start making a strategy, you should be having a business vision and mission statement along with clear cut goals. Start from conducting market research to see if there’s a need of a wholesaler in some particular industry or area. In case there’re already more than enough wholesalers in the market, analyze your business to see if you will be able to provide superior services to your customers? Decide the type of wholesale enterprise you’d like to start and also some specific type of products that you’d be dealing in (e.g. food, garments, grocery, cosmetics, etc). You need to decide on some specific product because it will require a massive setup to deal in all kinds of products. Do some research to know about the requirements of storing, sorting and shipping the product that you have chosen? Do a SWOT analysis (strength, weaknesses, opportunities & threats) to confirm if you’ll be able to pull it off. Make an initial budget to see what kind of funds you will need to successfully start and run the business. Consider all expenses including licensing, rent, transportation, and shipping costs. Create flow charts for all departments and come up with a rough estimate of the number of employees you’ll need to start with. Mark key performance indicators for all departments. As you’d have already noticed, one needs to know the wholesale business inside out to be able to make a foolproof strategy. It’s better to hire some professionals to assist you in strategy making. In the end, keep in mind that business strategy is not a one-off job. Once you’ve started operating as a wholesaler, this strategy will require several additions, modifications and changes.

William King is the director of Wholesale Suppliers, Wholesale Baby Goods and Wholesale Directory. He has 18 years of experience in the marketing and trading industries and has been helping retailers and startups with their product sourcing, promotion, marketing and supply chain requirements. s.

The Driving force behind the store designing

By blogger on

Keeping in mind modern standards, the store designing has become evasive. With bulk of ideas and the austerity are the factors that work like game changer. Store designing is very appealing to the senses of the common man. The austerities which these emblems of advancement depict are the combination of modern tools and fixtures like, modern lighting and metal Storage racks. The idea that is working behind the development of store designing is only to raise the standard of living and let the common people feel like they are special too. Moreover, retail designing is also inspiring for the people to become more brand conscious, thus making driving people towards the new marketing trends.

Store designing vs. modern standard of living

Here is driving force that is working to increase the store turnover. Thus making people familiar with the latest trends so that they can decide what is more beneficial for them. So store design is only to start a brand competition as we can see the battle of brands when we step in to the store and all the arrangements done to decorate the store is only to present the brands and metal shelving is the essential part of this store designing. So if a store is more inclined towards, window display or visual merchandising, it only means to introduce the brands before the people. We can observe brand marketing campaign when we entered into the store. Surely, this is the work of visual merchandising and brand marketing team that plans how to inspire the people by stimulating their all five senses.

Product arrangement appeals to the customers

First step that is considered in store designing is product assortment, the idea of making the product visible before the customers. Not only this, but the main objective is, to present the items in such a way that it quickly grab the attention of the customers, and this objective can only be achieved if proper lighting arrangement is done. In lighting, the lighting arrangement should be of different colors so that it could properly reflect the targeted product. Moreover lighting should have a soothing effect on the people; if the products have a dark color the light should be of suck kind that it illuminates the entire feature of the product. Thus making thing visible means to facilitate the shoppers so that they can easily select the item form the storage racks.

Store strategy for all brands

This is the strategy of store designing that is focused to present all the brands with same value and worth. That’s why at store, every brand is valuable and people would love to buy things that are placed on Supermarket shelving and refrigeration. The cool and calm environment is another key factor that strikes to the senses of the shoppers so that they can get the best. Certainly this is the environment that changes the mood of the customer and turn him into a buyer by conceiving his sensual behavior, visual merchandisers has made modern day shopping an art. Majority of the people that visits mega stores only to sooth themselves, because they find everything there. Here are world’s renowned brands along with the things that are in daily use kept with great care, under the umbrella of cool lighting and soothing environment truly reflects the need of modern man who needs only calm and comfort while shopping.

Ensure Business Success With Right Branding Strategy

By blogger on

Building a brand is the most important task for any business that can determine its success. This is basically a way to create an image about the business products or services in the minds of targeted customers. It is always a dream for any new business to become the preferred brand among customers. It can also be considered as a way to reach the potential customers and help in increasing the revenue. It is important that the targeted audience gets impressed with the service offerings of the business. Designing the right branding strategy serves as the backbone for any business today. This is especially more important for new business or products to get recognized among the people. There are huge benefits that any business can observe with the right branding strategy. However there are a few important things that should be well taken care while designing brand strategy for the business.

As an initial step, it is important that one does a thorough market study. Having information about the needs of people can help the business design product or service offering appropriately. Also it can help the business identify the targeted customers and reach them in an effective manner. It is to be made sure that the service offering beats the customers’ expectations and also the existing competition in the market. Knowing about the similar existing products or services can further helping any business improve its service offering and create a good brand image of the company or product. There are many benefits that any business can reap with investing in brand building. It has been seen that benefits are often long term and realized in terms of constant revenue growth.

One thing that can make a different to any branding strategy is the right visual representation. Choosing the right logo is one of the important things in this regard. It is to be made sure that visual representation attracts targeted audience and compels them to buy products/services of the business. There are moreover different mediums that can be chosen today for visual representation of the brand. Some common mediums include newspaper and internet. Internet is one of the fastest growing mediums that is accessed today by millions of people. However choosing it as a branding medium depends entirely on the targeted audience. While some products/services are well suited to be advertised on the internet, there are many that are best suited to newspapers that are read by masses.

Often proper market research and identification of targeted audience is followed with designing the brand strategy for any company. There are dedicated professionals today who understand different details about the field and can help any business reach to the next levels with right branding strategy. Taking dedicated efforts to design the right brand strategy can definitely ensure success for any business.

The Best Strategy Maps Example

By blogger on

One thing is sure that strategy maps example, balanced scorecard examples, BSC templates examples, and BSC for HR are amongst the most indispensable tools out there which can surely help you to accomplish your implicit and explicit objectives successfully. That is why we need to implement the best strategy maps example right away so that we can really analyze where our business is going all about. As a matter of fact, strategy map strongly holds the mission and objective of your organization and keeps a clear eye on the employees or employers activities and performance pragmatically. Talking about strategy map, it is one of the most indispensable tools in the global marketplace in most recent times. Most importantly, strategy map has many staggering features and facets such as robustness, flexibility, durability, trustworthiness, cost effectiveness, usability, customer satisfaction, and longevity. That is why balanced scorecard strategy map cannot compromise at all when it comes to quality, performance, style, and value.

Rather it is totally associated with your companys mission, and objectives genuinely. Generally BSC strategy map has four illustrious perspectives regarding the usability and performance of your business including customer perspective, financial perspective, internal business process perspective, and finally learning & growth perspective. There are many strategy maps examples out there but university strategy map example is more unique and competitive than the whole lot indeed. Let discuss the strategy maps example in the university campus with a detailed analysis.

There is no denying that university is one of the places where destiny of the youth is coordinated immensely. That is why university is considered as a backbone in any countrys progress, development, and growth. If you are assigned a role to conduct a research of your university, then university strategy map can be the best option by any means. Actually it contains the mission and objective of the university. Therefore it would definitely lend a hand to explore the information, facts, and figures regarding the activities and performance of each department of the university.
So there is no doubt about that university strategy maps example suits best to the university activities and functions i.e. seminars, conferences, meetings, group discussions, festivals, galas, funfairs and bonfires from simple to complex approach. One of the most important things is that you can make a detailed analysis of each department of the university with the implementation of balanced scorecard strategy maps. For example, BSC strategy maps would lend a hand to organize the activities and performance of each department of the university exclusively such as social sciences, natural sciences, administration sciences, animal sciences, international relationships, anthropology, sociology, gender and development, earth sciences, electronics, physics, mathematics, statistics, political sciences, chemistry, computer sciences and so on. Therefore we cannot really overlook the value of strategy maps balanced scorecard at all. On the other hand, BSC for HR can play significant role in improving the activities of human resources department of the university. Add to that, strategy maps cannot only improve the overall activities of the university departments but also maintain its performance persistently. Moreover, university strategy map will not only change the overall behaviors of the students but also help them a lot to improve their grades on a permanent basis. Next university BSC strategy maps can boost up the efficiency of university scholars, research associates, professors, and doctorates everlastingly.
Further, they will securitize both the input and output levels of the organization in detail. Last but not the least, we cannot only put into action some of the best balanced scorecard examples in university strategy maps but also bring into play some latest yet practical BSC templates examples in our research compatibly. In short, university strategy maps example is surely amongst the most competitive and cost effective ways to conduct an in-depth research and analysis of the university successfully.

How Globalization Of E-commerce Is Helpful For Business

By blogger on

Electronic commerce, commonly known as e-commerce and e-comm., is the buying and selling of products or services over electronic system such as internet and other computer networks. E-commerce is commonly used for net banking, online shopping etc…

This paper examines how globalization of e-commerce is impacting business in general. With the increase of internet-based technologies, it has been the reason for recent stimulus globalization. In this Information Age, Internet commerce is a powerful tool in the economic growth of developing countries. While there are indications of ecommerce patronage among large firms in developing countries, there seems to be little and negligible use of the Internet for commerce among small and medium sized firms. E-commerce ensures better business in the SMEs and sustainable development of economics for developing countries.

E-commerce allows companies to increase their sales in domestic and foreign operations and the flexibility afforded by the technology also provides less costly opportunities to locate operations strategically. E-commerce not only reduces communication costs, but also increases flexibility in locating activities. Research point indicates that internet technology has led to an increase in international trade (Freund and Weinhold, 2002, 2004). This is the evidence of how it suggests profits from foreign operations have also increased in recent years (Hilsenrath, 2005). In the emerging global economy, e-commerce has increasingly become a necessary component of business strategy being a strong catalyst for economic development.
Integration of information and communications technology (ICT) in business has evolved the relationships within organizations and those between and among organizations and individuals. The controversial current social and economic trends are globalization and the widespread adoption of information and communication technologies (ICTs). Many argue that these two trends are closely associated, each driving the other forward, and both being driven by other common forces, such as trade liberalization, deregulation, migration, and the expansion of capitalism and democracy (c.f., Held et al., 1999). Pohjola (2002) argues that the twin forces of globalization and the ICT revolution are combining to create the so-called New Economy, marked by higher rates of economic and productivity growth.

“Technology is both driven by and a driver of globalization, as both forces continually reinforce one another” cited by (Bradley et al., 1993).Specifically, the use of ICT for ecommerce in business has enhanced productivity, encouraged greater customer participation, and enabled mass customization, besides reducing costs. Prior to development in the Internet and Web-based technologies, the distinctions between traditional markets and the global electronic marketplace-such as business capital size, among others-are gradually being narrowed down.

Together with the appropriate strategy and policy approach with e-commerce enables small and medium scale enterprises to compete with large capital-rich businesses. On another plane, developing countries are given increased access to the global marketplace, where they compete with and complement of the more developed economies. Most of the developing countries are already participating in e-commerce, either as sellers or buyers. However, to facilitate e-commerce growth in these countries based on globalization phenomenal, the relatively under-developed information infrastructure must be improved. Significantly, economic trend of the past decade is the growing use of the Internet for conducting business.