Your Questions About Direct Marketing Definition

Jere answers:

Interdependence means that different countries are voluntarily dependent on one another in their own individual economic ineterest of producing goods and services at which they have the most competiotive advantage and import those that are produced cheaper elsewhere, voluantarily invest across the borders on the basis of same treatment as if they are investing in their own countries and trherefore working virtually as an integrated one economy and all countries firms compete with each other on a level playing field basis so that the consumrs of all countries get access to the cheapest and best quality products, rather than being exploited by domestic monopolies or relative inefficiencies of certain lines of product manufacturing or businesss. In view of these globalisation is measured in terms of dependence of a country on other countries and other countries dependence on this country for mutual economic gain.. These econiomic interdependence or economic integration centre around the four main economic flows that characterize globalization:
(a) Goods and services, e.g. Exports plus imports as a proportion of national income or per capita of population : higher the percentage higher is the intensity of globalisation of the country because its shows higher interdependence between this country and other countries ( of course, both exports and imports must be high, only imports will not do)
(b) Labour/people, e.g. Net migration rates; inward or outward migration flows, weighted by population – higher the incidence of migration, preferably both ways, higher is the interdependence between this country and other countries and greater is the extent of globalisation.
(c) Capital, e.g. Inward or outward direct investment as a proportion of national income or per head of population – the higher is the flow of one country’s citizens’ investment in other countries and vice a versa, the higher is the interdependence among countries in terms their common interest in the growth and development of all countries, and therfore higher isthe higher is the extent of globalisation.
(d) Technology, e.g. International research & development flows; proportion of populations (and rates of change thereof) using particular inventions (especially ‘factor-neutral’ technological advances such as the telephone, motorcar, broadband) – the more different countries co-operate and collaborate on technological progress and take each other’s help on technology adaptation, the greater is the interdependence among them and greater the extent of globalisation to get more ideas see below:
Globalisation (n) is the “process enabling financial and investment markets to operate internationally, largely as a result of deregulation and improved communications” (Collins) or – from the US – to “make worldwide in scope or application” (Webster). The financial markets, however, are where the story begins.
In the late 1980s and early 1990s, the business model termed the “globalised” financial market came to be seen as an entity that could have more than just an economic impact on the parts of the world it touched.

Globalisation came to be seen as more than simply a way of doing business, or running financial markets – it became a process. From then on the word took on a life of its own. Centuries earlier, in a similar manner, the techniques of industrial manufacturing led to the changes associated with the process of industrialisation, as former country dwellers migrated to the cramped but booming industrial cities to tend the new machines.

So how does the globalised market work? It is modern communications that make it possible; for the British service sector to deal with its customers through a call centre in India, or for a sportswear manufacturer to design its products in Europe, make them in south-east Asia and sell them in north America.

Jere answers:

Role of the niche market in today’s economy- -how does it impact the economy: See detailed notes below. It enhances competition, serves special category of customers, enhances value addition, creates employment, nourishes creativity.
-what are some trends in retailing that focus on niche markets? See what happens online niche marketing below.
-is there such thing as a niche marketer? Yes, see definition within the notes below.
A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. A niche market may be thought of as a narrowly defined group of potential customers.
A distinct niche market usually evolves out of a market niche, where potential demand is not met by any supply. Such ventures are profitable because of disinterest on the part of large businesses and/or lack of awareness on the part of other small companies. The key to capitalizing on a niche market is to find or develop a market niche that has customers who are accessible, that is growing fast enough, and that is not owned by one established vendor already.
Niche marketing is the process of finding and serving profitable market segments and designing custom-made products or services for them. For big companies those market segments are often too small in order to serve them profitably as they often lack economies of scale. Niche marketers are often reliant on the loyalty business model to maintain a profitable volume of sales. This also means theres a gap in the market. An often used technique for affiliate marketers. By seeking out smaller segments of larger markets, a website can be developed and promoted quickly to uniquely serve a targeted and usually loyal customer base, giving the affiliate a small but regular income stream. This technique is then repeated across several other niche websites until a desired income level is achieved.
Market niches are small highly-focused market segments. They allow even smaller businesses to be major market-dominant players in areas that can be relatively free of massive competitive struggle.
Geographic focus, demographic profiling, alternative distribution channels, modifications in products or services, variable pricing, new technologies — all these are possible ways of doing niche marketing: a highly concentrated form of target marketing that allows companies to zoom in on markets that may be small but whose profit potential may be large.
Niches can sometimes grown to tremendous size. A (former) head of IBM once went on record as saying that the market for personal computer ownership in the United States probably would never amount to more than five people. Bill Gates did not agree, and thought this niche market was worth developing. The rest is history.
There are two things to remember about niche markets and niche marketing. As with regular markets, the best way to spot them, understand them, and address them is through market research and market segmentation. Niche markets, like all markets, are driven by consumer wants and needs. The more closely one understands the characteristic drives and purchasing patterns of any market, niche or otherwise, the more likely success is to follow. The second thing is that niche markets don’t require a company’s total focus. A large company can address both a large market and a niche market at the same time — indeed, the smaller size and tighter focus of a niche market can make it the ideal target for experimental or developmental testing of products or services.
Most companies, whether big or small, direct their marketing to select niche audiences. Even the country’s largest manufacturers target carefully pinpointed market segments to maximize the effectiveness of their programs and often tackle different niches for each product group. Hewlett-Packard, for example, markets all-in-one machines that print, fax and scan to segments of the home office market, while targeting larger businesses for higher-priced, single-function units.
Niche marketing can be extremely cost-effective. For instance, imagine you offer a product or service that’s just right for a select demographic or ethnic group in your area, such as Hispanics or Asians. You could advertise on ethnic radio stations, which have considerably lower rates than stations that program for broader audiences. So your marketing budget would go a lot further, allowing you to advertise with greater frequency or to use a more comprehensive media mix.
Taking on a new niche can be a low-risk way to grow your business, as long as you keep in mind several important rules:
1. Meet their unique needs. The benefits you promise must have special appeal to the market niche. What can you provide that’s new and compelling? Identify the unique needs of your potential audience, and look for ways to tailor your product or service to meet them. Start by considering all the product or service variations you might offer. When it comes to marketing soap, for example, not much has changed over the years. But suppose you were a soap maker and you invented a new brand to gently remove chlorine from swimmers’ hair. You’d have something uniquely compelling to offer a niche market–from members of your neighborhood pool to the Olympic swim team.
2. Say the right thing. When approaching a new market niche, it’s imperative to speak their language. In other words, you should understand the market’s “hot buttons” and be prepared to communicate with the target group as an understanding member–not an outsider. In addition to launching a unique campaign for the new niche, you may need to alter other, more basic elements, such as your company slogan if it translates poorly to another language, for example. In instances where taking on a new niche market is not impacted by a change in language or customs, it’s still vital to understand its members’ key issues and how they prefer to communicate with companies like yours. For example, suppose a business that markets leather goods primarily to men through a Web site decides to target working women. Like men, working women appreciate the convenience of shopping on the Web, but they expect more content so that they can comprehensively evaluate the products and the company behind them. To successfully increase sales from the new niche, the Web marketer would need to change the way it communicates with them by expanding its site along with revising its marketing message.
3. Always test-market. Before moving ahead, assess the direct competitors you’ll find in the new market niche and determine how you will position against them. For an overview, it’s best to conduct a competitive analysis by reviewing competitors’ ads, brochures and Web sites, looking for their key selling points, along with pricing, delivery and other service characteristics.
But what if there is no existing competition? Believe it or not, this isn’t always a good sign. True, it may mean that other companies haven’t found the key to providing a product or service this niche will want to buy. However, it’s also possible that many companies have tried and failed to penetrate this group. Always test-market carefully to gauge the market’s receptiveness to your product or service and message. And move cautiously to keep your risks manageable.
How does the small business person compete with the Wal-Marts of this world. You don’t have the capital to use the department-store approach. The key for small businesses is to master the art of niche marketing.

1. Profile Your Customers
First, profile who your customers are likely to be. Take an hour or two with a friend or business associate or spouse and describe in detail the characteristics they are likely to possess.
2. Where Do They Congregate?
Next, decide where those kinds of people are likely to congregate on the Internet. If you haven’t discovered Internet mailing lists and news groups, there’s no time like the present. You’ll find many of your customers congregated into neat niches right here.
Both mailing lists and news groups are on-line discussion groups. Here’s the difference between them:

Mailing List. The discussion group’s comments all land in your e-mail box either in single messages or, if you’re not a glutton for punishment, in a daily digest form. Mailing lists tend to involve more serious discussion.

News Group. This type of discussion group is found residing on your Internet Service Provider’s computer (much like AOL and CompuServe forums). You look at the comments others have made and add your own. Caution: a lot of fluff and stupidity here. But who says your potential customers have to be highly intelligent?
Mailing lists and news groups are highly targeted since they focus on very specific topics. In each discussion group you may find as many as 1,000 to 10,000 regular readers with a special interest in that topic. There are discussion groups on marketing, doll collecting, auto racing, Celtic civilization, management development, cycling in the Himalayas. You name it: it’s probably there somewhere. And if you don’t find one you like, you can start your own.
3. Communicate Your Message Where They Congregate
Let’s say you want to sell Civil War books (or are they “War-between-the-States books” in the South). I’d find a mailing list made up of Civil War reenactors and find some way to participate.
You don’t come on strong: COME BUY MY BOOKS. You’ll be hooted down (flamed) by half the members. You wait for your moment. Your great-great uncle was wounded in the Battle of Kenesaw Mountain, Georgia. When the discussion turns to Sherman’s March to the Sea, you tell what you found in Uncle John’s old letters you discovered among your grandmother’s papers. At the end of your e-mail message, however, you’ll include your e-mail “signature” which gives a mini-ad for your business.

Jere answers:

You ask for a simple answer to a very complex question, but I’ll do my best without writing a book.

Communists form communes. There no one owns any private property. The commune owns all the property and it is “shared” in some manner. Since the early 20th century Marxism has been the most common large scale communist structure. Marxism has never been indefinitely successful because it is a nice dream that doesn’t work in the real world. Citizens give up trying as others don’t contribute as much as they do, but still get the same returns: and the leaders take first and best of everything for their families and friends, since they control everything, and short the other citizens. I like to say communism works only with robots, but I admit my favored libertarianism (true-liberalism) works well only with angels.

Socialists have a less radical form than the communists (communism is just a very radical form of socialism). There, in its formal version, the “state” doesn’t own everything (as in Marxism), but it does own — or at least control — all means of production. Most of the Euro-cultures and others, including the US, have a socialist society in varying degrees. Today’s neo-Marxists lie about that because it’s nowhere near enough socialism for them. Many also lie that they are “liberals” when liberalism is the polar opposite of their beliefs (see definitions below).

Republicans advocate a “representative” form of government where citizens are represented in some manner within government. The Republican Party of the US — which had some socialist principles under it’s “progressive” wing at turn into the 20th century — is today an odd mix of true-liberals and conservatives (see below), and very moderate national socialists.

Democrats advocate government control by the citizens themselves, sometimes by direct vote from all citizens. The US is a constitutional democratic-republic. It’s structure was forged by the original Democratic Party, then named Democratic-Republican Party (today’s Republican Party wasn’t formed until the 1840’s). The Democratic-Republican Party opposed The Federalist Party then, which went defunct in the early 19th century. The conservative (see below) Federalist Party favored commercial and financial interests and the Democratic-Republican Party was favored by farmers and tradesmen. That party had been truly liberal (see below) until socialist academics and union organizers gained a lot of control early in the 20th century.

I can easily turn this into a book for you but I’ll stop here before I do. You can E-mail me from my profile if you have more questions.

Liberalism advocates: individual freedom, weak government, and free markets. Conservatism advocates: moral responsibility, strong government, and protected markets. Socialism advocates: social responsibility, omnipotent government, and controlled markets.

Jere answers:

There’s no way unless you happen to have a couple billion dollars that you’d like to spend developing computer programs and supercomputers.

There are way too many black-box funds that are already doing this. They have enough capital to make minor price discrepancies very profitable. By definition, a “small” investor simply doesn’t have those resources.

Jere answers:

Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. It is concerned with internal communications management from the standpoint of sharing knowledge and decisions from the enterprise with employees, suppliers, investors and partners. Examples include:

Enterprises use annual reports as corporate communications tools to convey information related to results, processes and relationships of the enterprise. Typically, these communications occur on a yearly basis.
Corporations use electronic and print newsletters to share corporate diversity hiring practices and information on new hires.
Enterprises use corporate Intranets to create a corporate communication platforms to formalize processes around announcing requests to supplies to submit RFPs.
In corporate communications the object of communications work is company/enterprise itself as opposed to marketing communications where the object of communications is product/produce or service provided by the company/enterprise. The aim of corporate communications is building company’s reputation among its stakeholders (as opposed to brand building in marketing communications).

Corporate communications may include:

Analyst relations
Internal communications
Investor relations;
Corporate governance (communications aspects of corporate governance);
Issue management;
Change management (communications aspects of growth management, mergers and acquisitions etc.);
Corporate social responsibility;
Litigation (communications on/around litigation);
Crisis communications etc.