Exchanging marketing strategies

Economic crisis is not the cause of business collapse

Many businesses today have been brought down not only by the global recession but also by mismanagement. It is not in order to assume that the global economic crisis should only be working against your business. Many managers who are failing today are blaming the bad economic conditions for their poor performance. A good business manager should be able to look for effective ways of handling a bad situation and getting the best out of it.

One of the most deceiving business ideas is that by putting your eggs indifferent baskets, you are going to be successful. Most of the managerial trainings include what is commonly called ‘portfolio management’. This theory supports the idea of investment diversification. This is why managers think that during bad financial moments for the business, they need to diversify their investments in order to reduce the risk of losses. This may not be a solution if the management style is wrong. A poor manager will still fail even in a diversified portfolio.

Many are left wondering about what they should do if diversification is not working. The truth is that diversification should only be left for those who are not sure of making it in one line. Instead of diversifying your investments, you should be thinking of specialization.

You should be looking for the best business strategies that can make you a king in your line of operation. Unfortunately, many business managers view success as only retaining some profits for the business. Very few people are endeavoring to be the most outstanding businessmen.

Friday, October 2, 2009

Exchanging marketing strategies

Most of the times, when we hear of exchange programs, what quickly runs through our minds is how students and young professional in apprenticeship will visit each others countries and territories. This is mainly done to expose them to different environments and learn how things are done away from home. What never crosses our minds is that we could as well use this strategy to boost our customer base and hence expand our potential consumers.

In the real business environment, there are strategies that work for our competitors but just cannot work for you. Wise men say that one man’s meat is another man’s poison. But identifying a partnering business in the same industry you are in, can work well for you. Remember that the idea behind this is not who beats who but is focusing on the customer. Many businesses spend a lot of time trying to outdo each other instead of increasing their customer base.

Entering into a business partnership with one of your biggest competitors will ensure that you outdo all the others and consequently pushing them out of the market or else getting the lion’s share. As partners, you should concentrate on how to attract customers to your businesses. This calls for sincerity and sharing the tips that have worked and those which have not. Both of you are able to look at the possible marketing strategies that will guarantee your success and intensify your profit search.

Working in an environment where businesses work together means that the center of attention will definitely shift from the competitor.