Business Strategies | A small company can use a number of business strategies, depending on its situation. For example, new companies may face different challenges than companies that are more established. Therefore, the business strategies they implement may be different from those of key competitors. Four types of business strategies include the growth, product differentiation, price skimming and acquisition strategy. Business Strategies
A small company can use a number of business strategies, depending on its situation. For example, new companies may face different challenges than companies that are more established. Therefore, the business strategies they implement may be different from those of key competitors. Four types of business strategies include the growth, product differentiation, price skimming and acquisition strategy.

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Nicole Shelton(Recruiter )
er/GVK


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Mrs Nicole Shelton : GVK Power & Infrastructure is offering the latest jobs to freelancers in US  for Admininistrative positions also for $29/hr.Kindly contact  (321) 947-8054 to know more about the job 
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davidhill :

         Current Trends in Business Communication


Anyone who has owned or worked for a business knows that the continual advancement of technology goes hand in hand with the advancement of business communication. In the last ten years aloneSocial media networking has officially crossed over from only being used socially to an important and viable method of customer relationship management (CRM). Using tools like Facebook, blogs, public forums and wiki sites, business can better know how to attract and keep their customers. CRM begins with acquiring new customers through contact management, sales and customer satisfaction. Enhancing CRM occurs through excellent business communication and the use of customer service tools such as product experts and ease of purchasing. Retaining customers occurs through loyalty and reward. CRM software or databases can notify the business owner of long term clients and create the ability to recognize them through promotional measures.

Streamlining every phase of business communication will always be a trend in business. Making it easier for your client to send and receive materials or communication from you is increasingly important. Many companies are choosing to create interactive websites whereby the client can attain a report, invoice or product information whenever they feel the need. This creates a whole new level of service quality, as well as opening up the field of business communication. No longer does the client have to wait for 9 am Monday morning.

PowerPoint presentations have been around for over a decade, but they are still a valuable audiovisual tool in business communication. Dynamic presentations aimed at teaching the client about the product or service are full of impact and have a much clearer result than a one-dimensional oral presentation. Even telephones are being used in a more purposeful way in business communication, and not always for talking. Email, text messaging and internet are readily available and highly useful tools for any business person. Plus book readers (as previously mentioned) will soon allow business related documents to be read on a cell phone.



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davidhill :

Business Communication Skill


Every business professional and entrepreneur believes they are good communicators, but how do they know? It?s really the perception of the recipients that counts, and poor communicators are almost always poor listeners, so they don?t hear the shortcomings. 
  1. Generate trust rather than distrust. Effective communication requires trust in you, your message and your delivery. We tend to trust people that we think are like us, or we have social proof that others trust, or we feel reciprocal trust from the sender. People who are optimistic, confident, and demonstrate competence generate trust. Are you one of these?
  2. Be collaborative rather than present a monologue. Collaborating for influence has become a fundamental leadership skill. Be known for the questions you ask ? not the answers you give. Statements imply that you intend to control the interaction, whereas questions imply that other input has value to arriving at a mutually beneficial decision.
  3. Aim to simplify rather than inject complexity. Simplicity leads to focus, which produces clarity of purpose. People distrust what they don?t understand, what they perceive as doublespeak, or things made unnecessarily complex. Influencing people to change their mind or actions requires building an intuitive simple path to your answer.
  4. Deliver with tact and avoid insensitivity. Some word choices turn people off because they are tasteless, tactless, or pompous. Phrase your communication to avoid biases that might create negative reactions. Consider using other authority figures or quotes to deliver a more persuasive message while eliminating any sensitive implications.
  5. Position future potential instead of achievements alone. The allure of potential is normally greater than today?s actual achievements. This is especially true for career advancement, motivation, and the power of systems. For customers and clients, let them have it both ways. Consider what you can package as your own untapped potential.
  6. Consider the listener perspective rather than the presenter. Listeners tend to average all the pieces of information they hear and walk away with a single impression. More is not always better, so reduce the length of presentations and speeches. Perceptions are more important than reality. Avoid the over-helpfulness syndrome.
  7. Tend toward specifics rather than generalizations. Many executive speeches miss the mark because they aim for the general constituency and hit no one. People need to know how a message relates to them personally, not just what has to be done and why. Your challenge is to make the future seem attainable and applicable to each listener.

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davidhill :

    marketing plan


 marketing plan is an essential part of your overall business plan. Bankers and lenders will want to see how you plan on making money. When you start a business or decide to introduce new products or concepts, your marketing plan will help you:

  • Assess customer needs and develop a suitable product or service
  • Convey product or service features to your target audience (potential customers)
  • Establish distribution channels
  • Determine the most effective ways to promote yourself
  • Pinpoint the best advertising venues

You can buy software to help you write your marketing plan, or use word processing or spreadsheet tools you already own. Some specialized software includes sample plans, marketing scenarios, and auto-calculations.

Before writing your marketing plan

    Market research

    Before you develop your marketing plan, you must first research the potential market for your product or service. Use the market research findings to back up statements in your marketing plan. Learn more about how to conduct your research.

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    davidhill :

    Different Types of Business Strategies



    Growth Strategy

    A growth strategy entails introducing new products or adding new features to existing products. Sometimes, a small company may be forced to modify or increase its product line to keep up with competitors. Otherwise, customers may start using the new technology of a competitive company. For example, cell phone companies are constantly adding new features or discovering new technology. 


    Product Differentiation Strategy

    Small companies will often use a product differentiation strategy when they have a competitive advantage, such as superior quality or service. For example, a small manufacturer or air purifiers may set themselves apart from competitors with their superior engineering design. Obviously, companies use a product differentiation strategy to set themselves apart from key competitors. 

    Price-Skimming Strategy

    A price-skimming strategy involves charging high prices for a product, particularly during the introductory phase. A small company will use a price-skimming strategy to quickly recover its production and advertising costs. However, there must be something special about the product for consumers to pay the exorbitant price. An example would be the introduction of a new technology. A small company may be the first to introduce a new type of solar panel. Because the company is the only one selling the product, customers that really want the solar panels may pay the higher price.


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