Communication Is A Fundamental Element To Business Marketing Essay

In our daily life, communication is a tool that uses to maintain the relationship in between people surrounded us, and there will be no different in business environment. Business firm used communication tools or channel to start or maintain a good relationship with their shareholder and stakeholder. From the separate understanding, business is “…any goods and services that sent into the market for purpose of exchanging benefits or profits...” (Dictionary.com). Communication is “…a process that involves exchange of information, thought, idea and emotion from sender to receiver through one or two way delivering…” (Buzzle.com). So business communication can be defined as a process or tools that helps business to show, promote and present their company’s latest products/ services, current promotion, their market positioning, and situation. For example, Digi telecommunication will compare their product is better that others in their promotion catalog.

Source: DiGi Prepaid Campus Plan Rate, 2010.

By having a good communication system, it will lead the business to success. Business communication is divided in to two types that are internal and external. Internal communications is the communication system that used inside the company and it has function of building up a good relationship in between the company and their staff and it give the opportunity for employees and employer to develop strategy for improvement and setting goals together. Internal communication is also a fundamental element for maintaining an organization, improving employee’s morale value, promoting a vivid message and reducing errors in communication. In the other side, external communication is functioned form outside of the company. It involved goods and services production, advertising of the company, public relation, and the business negotiation. External communication is important because it exchanged the information or messages in between the organization with other firms, groups, which linked to profit making. Besides that, external communication main task is to make the organization cooperate smoothly with the public/stakeholder such as suppliers, investors and stockholders and also to promote a bright image on their goods or services to current and new potential customers. Business communication is an important tool for the company which will help every company to improve and also develop themselves.

There are certain channels of communication that helps business to promote them, which are Internet, Print (Publication) Radio, Television, Ambient Media, Outdoor and words of mouth.

First of all, as the technology is kept on innovating, Internet has become a common tool to communicate and information transfer. By using Internet, people can communicate easily and efficiently, thought internet people can communicate with their friend and family around the world at anytime. From this perceptive, Internet has attracted people to do business through it. When goods and services sell through online, the market is global wide means that’s the goods or services can be purchase by the people around the world. The internal business communication system in Internet is that’s the employees can communicate and deliver important notice through email to their superior or subordinate. There are many company have their own email system for prevent their important file or data spread to the outside world and also to make their employees work more easily. For example; Eastern Oxygen Industries Sdn Bhd has their own email system for their employees to keep update on the situation of the production and also let them done their works easily when they are not in the office.

Image from: http://mymail.eox.com.my/mail/index.html.

In other side, the external influences of business communication tools are usage of the internet advertising and promotion to attract the attention of potential customers. Normally, marketers/firms will choose the high hits’ website to invest in, such as YouTube, Amazon, Lelong.my, EBay, and etc. By putting their advertisement banner at the website, the firm can save time and costs. Because consumers can come across the product randomly at anytime that they are convenient as long as they surf the Internet. Another advantage of promoting through Internet is it does not require any specific product and consumer groups. All products can be promoted regardless of the type of product and the targeted consumer groups.

Resource from: Amazon.com

Besides promoting through website banner, marketer will also keep updated with their consumer by sending them the latest promotion or deals through email. Marketer will use their existed data base to create the business opportunity. This method is often used by software firms such as Megaupload, cyberlink, brothersoft and others to ensure that their customers are aware on their promotion and allowing them to purchase cheaper software product than other consumers. This will make the customers feel prioritized and appreciated by the firm.

The image: Cyberlink Promotion through e-mail.

Publications are another tool that business used to communicate with public. It’s included all the product of books or other written material that’s available in the market to anyone who interested through distribution or offer for the purpose of selling or other monetary exchange. (Thefreedictionary.com) Publications involve all information that is made to public through printing distribution such as newspaper, brochures and magazines.

Advertising in newspaper is one of the most common forms and effective way to promote products because people will read the newspaper every day. Normally newspapers have two types of advertisement. First is text advertisement, it normally used as vacancy and small retail advertisement. It is a communication tools that help the company to sending massages to the external environment of the company and help them to find new members. For example, when a company advertise a hiring advertisement in newspapers, people that had read this advertisement will know this company is lacking of employees and they will intro their friend that are qualified to have a try on that position. Another type of newspaper advertising is display advertisement, these advertisement are normally use by commercial firm. It helps the firm to promote their goods and services, and also help them to attract new customer group.

Magazines are another type of publication that’s used by marketer to promote products. There are different types of magazines such as business magazines, mobile magazines, schools magazines, and etc. The advertisement are made depends on the target market of the goods and service. For example; Ring tone supply firm will do their advertisement in Mobile phone magazines such as e-ring, Sogi and others.

Besides advertising on the company’s goods and services in magazine, business magazines are also important to the business for seeking new investor to the company. These business magazines will interview the high potential company and analyze the company future movement for the reader. Sometimes business firm will also announce their company new project or upcoming plan to the magazine, and reader will able to know the company current and follow this information to do invest. Example of business magazines are Forbes, Times magazines, Business Week, The Edge TM and others.

Radio is another channel of business communication that helps business to communicate or deliver information to customer or stakeholder. Radio advertisements are only transmitted orally but it can reach a wide range of consumers because we normally use car or others transport to our destination and when we had stuck in the traffic jam we will turn on the radio. From this perspective, the radio advertising is targeted on the driver so the advertisement needs to be very specific and full of sense of humors.

There are some disadvantage on advertising through radio that’s are the advertisements does not have any visual or text, so it might fail attracting youngster especially students and young adults because they like visual stimulus more than oral stimulus.

Television advertisement is an effective way to promote product and attract customers to purchases the product. The factor of television advertisement is different and more success than radio advertisement is because of it contains vivid motion and picture to promote the product. Besides that, it has interesting description and creative presentation that gave the products or services the chances to gain audiences’ attention and make them got the desire to buy or own the products.

There are also some factors that firms need to consider when promoting their product through television. First, the advertisement’s fees of television are very costly; the firm needs to consider the time, way and contents to be broadcast. A research done by eHow.com, said that the estimated average cost of producing a 30-second commercial advertisement in the Super Bowl are coasted around $2.4 million, so the business need to fully utilized the costs to reach the targeted consumer group.

The second factors that need to be considered are related to the demographic of the target market. Marketer need to follow the demographic of their potential consumers to fix in the broadcast time of their advertisement. For example, toys products’ advertisements need to broadcast on the time that kids were watching cartoon. By following these ways, business firm will be able to spend more efficiently on attracting their targeted consumer groups.

The last business communication channel is word of mouth. Word-of-Mouth is the most efficient communication tools but it also a high risk utility. Word-of-Mouth is the informal communication between consumers of particular goods and services (Neal et al, 2004). If the firm used word of mouth as the tools to promote their product, they need explain the product clearly to ensure that the listener can fully understanding about the information because the listener might spread the false or blur information about the product to their friends or relatives if they didn’t understand clearly, and this will cause the business to have a bad images/reputation on their product although it is a good product.

Normally, the people who run the Word-of-Mouth tools are the opinion leader of any group. Opinion leader is defined as “…an individual who has a greater long-term involvement with a product category than the non-opinion leaders in his or her group…” (Neal et al, 2004) The characteristic of an opinion leader are they can interpersonal communicate with their follower and observe the follower’s consume behaviors, have the similar demographic characteristics with the follower and have involvement with a product category than the non-opinion leaders in his or her group. So marketer will targeted these opinion leaders when they are using Word-of-Mouth as the business communication tools to promote or attract to purchase their goods and service. Examples of opinion leader are CEO, parents, and etc. For example, when the parents are using Maxis as the telecommunication tool, then their children will follow them.

As a conclusion, business communication is the key to success as the business won’t succeed without communication. The reason of business communication is a fundamental element to business is because it helps the company to communicate with their employees and help them to motive, satisfy, and fulfill their employees’ need and wants. In another side, it also helps the employees to understand the company target goals, future achievement, the company policies and authority, and etc. Besides that, business communication tools also help the business to promote their goods and services to the public through all kind of advertising path. But advertisements are very costly for the business so the types of advertisement are the main issue that the company needs to consider. The company needs to follow their products and target market to choose their advertising tools. For example, if the company is selling toys and their target market are kids so they need to do advertisement in television on cartoons channels. Besides that, business communication tools also help the company to communicate with the public. For example, the vacancy advertisement in newspaper has sent the information to the public that’s the company is lack of employees so those who want to find job can go this company for an interview. However, business communication has also disadvantages but it depends how the business utilize it.

Consumer behavior: implication for marketing strategy, Neal, Quester and Hawkins, 2004, Australia: McGraw-hill Australia Pty Limited.

Dictionary.com, 20 march 2011 1312 hours, http://dictionary.reference.com/browse/business

Buzzle.com, 21 march 2011 1520 hours, http://www.buzzle.com/articles/communications/

Ehow, Fenell, 22 March 2011 1436 hours, http://www.ehow.com/about_5448301_average-cost-tv-commercial.html

Thefreedictionary, Farlex, 30 March 2011 1444 hours, http://legal-dictionary.thefreedictionary.com/Print+publication

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Corporate Style And Business Image Consultation Marketing Essay

Core Image is a closed corporation owned by Mareli du Toit. This company provides highly exclusive style consultation sessions in styling, makeup and hairstyling. The aim of our company is to revive women from clothing that do not fit properly to creating a new, fresh and elegant look that is put together to create an illusion of the perfect body shape. We are committed to provide South Africans with a creative and innovative service. The Fashion Box aims to become one of South Africa’s renowned image consultant agencies and not only improve the lifestyles of women but also companies.

As an image consultant, our business will provide clients, men as well as women, with the necessary information that will help them achieve a stylish and polished look which in time will provide them with the perfect job, soul mate or just increase their self esteem. The company will provide them with the right wardrobe style for the image they want to project, closet essentials and even go on shopping expeditions. Working with other stylists such as makeup and hair, we will provide the correct colour consultation and instructions for a well defined and confidant look.

The company will also introduce a book, a user friendly style guide which touches on body shapes, underwear, wardrobe planning, trends and tips and accessorizing. This book is the main focus of our company as we provide information to those not able to afford an image consultant, but have all the information that we provide to clients.

The company does not only focus on individuals but on companies as a whole as well. We will work with corporate clients recommending new employee uniform styles, image as a whole per individual and provide courses in multicultural etiquette or body – language basics for better sales and customer relations.

As each person is individual and has different body measurements, taste and budgets we will examine the client thoroughly and keep his/ her consultation personal and maintainable.

The Core Image Consultants will be run as a close corporation where a few people will own the voting stock and interest in the company. The personnel will consist of a qualified fashion stylist, hair stylist, make up stylist and will work part time with an etiquette and body language coach all who have worked in the industry before and has an extensive knowledge of image and how to keep it maintainable, affordable, stylish and individual.

Our company reason for success is the following:

We reach out to all women and men, regardless of their social or work status.

We are committed to provide an affordable service, to create stylish individuals

We are one few companies that provides a personal service to communicate directly with the client.

We are the only that provides a step by step guide that is unique, timeless, ageless and affordable.

Globally textile and clothing trade grew by 10.6% to US$583bn in 2007, while textile exports from Asia to Africa increased by 18% and from Asia to Europe rose by 16%. The world’s biggest textile exporter in 2007 was the EU27, followed by China, Hong Kong, the USA, South Korea, Taiwan, India, Turkey, Pakistan and Japan. The EU27 was also the biggest textile importer, followed by the USA—although China ranked as high as third, followed by Hong Kong, Japan, Turkey, Mexico, Vietnam, Canada and Russia.

In clothing, China was the world’s leading exporter for the second year running, followed by the EU27, Hong Kong, Turkey, Bangladesh, India, Vietnam, Indonesia, Mexico and the USA. As for clothing imports, 46% of the world total went to EU countries in 2007, while the USA took 24% and Japan took 7%. The countries which followed in importance had only small shares and included Hong Kong, Russia, Canada, Switzerland, the United Arab Emirates, South Korea and Australia [2].

It is estimated that the South African apparel and textile sector is the sixth largest manufacturing sector employer and eleventh largest exporter of manufactured goods. A total of 230,000 people are estimated to directly be employed in the industry with a further 200,000 employed in dependent industries [3].

In 1939 the clothing industry consisted of 268 factories employing about 19000 workers and by 1959 there were 560 factories employing 49000 workers with 844 firms registered in 1960[4]. This equates to roughly 3770 jobs per year since 1960.

Much of the debate relating to formulating a policy future and past to "rescue" the South African apparel sector has been thwarted with political motivation and interest groups pushing their own agenda and a lack of trust between various sub-sectors within the apparel sector. For an industry sector that contributes an estimated 11% of all manufacturing employment and as part of the manufacturing sector which contributed 16.2% of annual GDP [5] the delay in finding a cohesive policy and the infighting is inexcusable.

The Main services will be:

Style consultation

Personal Shopping

Wardrobe Weeding

Ladies Group Consultation

Corporate Style and Business Image Consultation

Hair and Makeup consultation

Our Style Guide will provide in depth information that allows the reader to achieve a stylish image on their own.

The services that Core Image Consultants will provide is a wide range of consultation services that provides information on the basics of dressing for both ladies and gentleman, as well as guidelines for corporate interaction that will improve the relationship and trust between the clients and the organisation. It ranges from individual coaching session’s right through to a company staff presentation.

The Main services will be:

It is imperative to dress according to your body and have confidence no matter the occasion, size and shape. This service will educate the client in their body type and its characteristics. It will also leave one with a clear insight as to the clothing, dresses, trousers, etc should be purchased that will flatter the specific body type and create and illusion to a hourglass body which is to be said the perfect body shape, thus reducing frustration when clothing don’t fit correct in shops. Our client will also receive a consultation by our makeup and hair stylists according to their face shape and colour combination.

This service will be divided in two categories. The one presentation will cover the importance of appearance and style within a corporate environment. It will cover how small changes in personal style can impact a client’s success. The other will concentrate more on individual personal style.

The expected time span of this service will take place in one week with consultations of 45 minutes daily and costs an estimated price of R 7 280 per person.

We realise that for our cliental shopping can be time consuming and place additional stress on already stressed lifestyles. Prior to a meeting, we will discuss exactly what the specific client’s needs are, be it revamping a wardrobe or selecting an outfit for a special occasion. With the information received the proper clothes will be sourced to meet the client’s requirements. Clothing will be bought according to the client’s budget and tips will be offered in terms of body shape and styles.

The time span of this service is approximately 3hours and costs and estimated price of R 1 976.

Many women find that they have nothing interesting, new or fresh to wear in their closet. With the wardrobe weeding service we will identify the 10 key pieces and get rid of the wardrobe full of old and outdated clothes and create a wardrobe that is ideal and personalized for the client. Together with the client we will weed the wardrobe and I will help co-ordinate the clients outfits and accessories to create new looks. Style tips will also be given for future shopping trips.

This consultation aims to leave you with a clutter free, coordinated and a wearable collection in your wardrobe. This duration of this service is approximately 5 hours and cost R 4 290.

This service is perfect for a girl’s night or bachelorette party, a style consultation with your friends in the comfort of your home. Initially it will start by dividing the women into their body shape groups where the 6 different groups will be educated on how to dress according to their body shape. A file will be handed to each individual that contains all the essential information on their specific shape.

A make up lesson will also be presented to the group as a whole by our makeup stylist, individual hair consultation by our hair stylist and a short course in etiquette by our part time etiquette coach.

This service will cost R435.50 per person in a group of minimum 20 ladies and 5 hours long.

This service provides business leaders, company individuals and other staff, both ladies and gentlemen with the essential style foundation in a corporate environment. The service includes individual body shape analysis, what clothes suits the body shape and taking relation to the business world proper and powerful clothing, from meetings to casual days to suite the company’s image. They will also receive a brief course on makeup and hair tips.The employee will have individual sessions with the stylist, makeup artist and hairstylist as well as group sessions with the etiquette coach.

This service will cost R 1 202.50 per employee.

A short consultation of 2 hours will be provided to supply a client with the correct hair and makeup according to their colour and face shape. Hair will be cut and coloured and a small basic makeup kit is provided with this service.

The service will cost R1 300.

The company has only one sole product which is a thorough style guide on body shapes, underwear, key wardrobe pieces, trends and tips and accessories.

This guide will be available for clients that cannot afford our services but still feel the need for information on how to dress correctly. The product will be available in specific bookstores and will be an amount of R386.

The typical customer that will make use of the style consultation, personal shopping and wardrobe weeding services, is a woman in her early thirties to the age of sixty; she lives in the Gauteng area and she is a successful professional with a relatively high income. She is considered to be a classy person and well educated. She is quite a busy person that doesn’t always have the time or patience to think about clothes, style or shopping, she wants to be up to date with latest trends and styles without having to take important time out of her schedule to do so.

Customers for the ladies group consultation and hair and makeup consultations will range from young females in their late twenty’s to older females at the age of sixty. They live in Gauteng and have an average income level. They are classy and educated. These women are looking for professional advice but not in depth as they have a brief knowledge about style and trends. They will make use of our service for special events such as bachelorette parties or girls night as they do not want to spend too much money on these services.

The typical client for the corporate style is big or small companies in the everyday industries such as accounting, personal relations, human recourses etc, who work with clients and have to keep a professional image to keep a promising cliental, these companies will spend money on our service to be ahead of competition as they provide a professional image and work ethic.

Companies that compete in this market are Chata Romano who is situated country wide, the Image room in Faerie Glen Pretoria and CImage in Equestria Pretoria.

These companies compete all on the same level as we offer the same services. Indirect competition like fashion magazines, internet may also be a problem as potential customers may believe that they can consult themselves.

Not only provides a service but has other products

Wide variety customers can get confused

Offers complete makeover

Only one service

Workshops

Small variety

Guaranteed prices

Expensive

Cheap prices

Cheap prices may scare off potential customer

Reasonable Prices

Not full services

World renowned

Has a lot of consultants underneath whom can affect reputation

Good quality service

Clients become friends

Good quality service

Not really known

Worldwide

Different treatment by different consultants

Pretoria faerie glen business area

Not very easily accessible

Pretoria equestria is a rich neighbourhood

May scare off average clients

Very professional

May look uptight

Trendy

May scare more proper clients

Average

Not really impressible

Our company will look at the above mentioned strengths and try to incorporate as many as possible into our system. To compete with these competitors it is quite essential to keep up with their level of professionalism. We will also pry on their weaknesses, analyze make them better and incorporate them into our strengths. Things like having a lot of consultants and other products as appose to just consulting as Chata Romano is definitely a strong disadvantage to our company but will be corrected in the long term of the fashion Box.

Our competitive advantage is thus that although there are other companies supplying the same service, we have an advantage as these operations are run in specific areas where our company drives to the client.

Kry ‘n paar verskillende pricing techniques en verduidelik kies ene

Our company would use a Sequential skimming price technique. Price skimming is a price strategy in which we set a relatively high price for a product or service at first and then lower the price over time. We target the richer customers first as it is an exclusive and quite expensive service and then lower our price for the average woman so everyone can afford our services. It allows the firm to recover its sunk cost quickly before competition steps in and lowers the market price.

While a formula is provided for each individual service, a thirty percent mark up fee will be charged on all products and services. Twenty five percent of this thirty percent is send to the business bank account in order to pay extra monthly expenses and store capital to ensure that the business expands.

The owner gets fifty percent of the salaries whereas the hair stylist and makeup artist share both a twenty five percent income and only receives this when their service was provided, almost a commission like basis.

The formulas to obtain the prices of different services that were provided that was used were as follows:

[Material such as printing of papers, files etc (a) + Clothing examples (b) + Make up (c) + Hair products (d) + Electricity for hair services (e)] x [4 salaries of stylists] + (30% markup)= estimated price of service (x)

[Materials such as printing of papers, files etc (a) + Petrol used when buying clothes at different stores (e)] + [(R400 cost per hour x hour minimum 3 hours (f)] + (30% markup) = estimated price (x)

[Petrol used when buying clothes at different stores (e)] + [(R600 cost per hour x hour minimum 5hours (f)] + (30% markup) = estimated price (x)

[Material such as printing of papers, files etc (a) + Clothing examples (b) + Make up (c) + Hair products (d)] + [(R800 cost per hour x hour minimum 5hours (f)] + (30% markup) ÷ (Number of women in group(g) minimum of 20 ) = estimated price (x)

[Material such as printing of papers, files etc (a) + Clothing examples (b) + Make up (c) + Hair products (d)] + [(R1500 cost per day) x (days (h) minimum of 10) + (30% markup) ÷ (Number of employees (i) minimum of 20) = estimated price (x)

[Make up (c) + Hair products (d)] + [(R150 cost per hour x hour minimum 2hours (f)] + (30% markup) = estimated price (x)

The formula to obtain the price of the product that is provided that was used was as follows:

[Photo shoot cost (k) + illustration cost (l) + printing and binding books (m) + (100% mark up ) ÷ Books minimum of 200 copies (n)

( a + b + c + d + e ) x 4 +30% = x

50 +500 + 500 + 200 + 150 x 4 + 30%

R 7 280

(a + e) + (400 x f) + 30% = x

20 + 300 + (400 x 3) + 30%

R1 976

e + (500xf ) +30% = x

300 + (600 x 5) + 30%

R4 290

(a+b+c+d) + (800 x f) +30%

g

(200+500+ 1000+1000) + (800 x 5) + 30%

20

R435.50p/p minimum 20 people

(a+b+c+d+e)+(2000xh) + 30%

i

(200+ 1500 + 1500 + 300) + (1500 x 10) + 30%

20

R1 202.50/p minimum 20 employees

(c + d) + (150 x f) + 30% = x

(500+200) + (150x2) + 30%

R1 300

(k + l + m) + 100%

150

(6000 + 3000+ 20 000) + 100%

150

R 386

As we are a new company advertising will be limited to posters, brochures etc. In the beginning we will also rely on word of mouth and sponsorships. We also have cars branded with stickers that provide the customer with a label, number and website address. The image that we want to portray to the customers is a trendy one, where the customer can feel that he or she will find personal style through our consultations. Events will also be organised to attract sponsors and clients.

In the beginning we will not rely heavily on broadcasting media, such as television as we don’t have the funds for this.

We will make use of radio advertising only as medium to long term channel. Initially it will only be used to advertise and promote events hosted by our company as a means to create awareness and initiate dialogue amongst our target market.

We will make great use of this specific media as it is not too expensive and easy to reach customers.

Brochures will be made available at high class boutiques and delivered to companies in our target market.

Branded vehicles will be driven by our employees. Also to create awareness on the road or where ever they go.

Posters will be placed in restrooms in shopping malls and restaurants.

Billboards will not be used as these are expensive and will not attract efficient clients.

Advertisements in fashion magazines can be used but only be employed once the business has achieved market segment.

The company will launch a website which will contain all the necessary information on services, prices etc. As well as contact information and also have a service were users can register and receive information by email on specials, prices and other information on the company.

We will advertise on already based websites such as www.ifashion.co.za, and register with the SA professional image consultants association.

Social networking sites such as face book also play an integral role it will be in the company’s best interest to establish a strong online presence on these sites.

Flyers (10 000 A6 full colour)

R 1040.00

Business Cards (500 Full Colour)

R295.00

Banners (Premium Banner quality white PVC.)

R24.40 x 20

Vehicle Branding

R4 500.00 x 2

Posters(Photo High Gloss, 235gsm )

R18.00 x 100

Website hosting

R49 x 12months

R 13 211.00

See appendix for quotation

Flyers (10 000 A6 full colour)

R 1040.00

Business Cards (500 Full Colour)

R295.00

Banners (Premium Banner quality white PVC.)

R24.40 x 20

Posters(Photo High Gloss, 235gsm )

R18.00 x 100

Website hosting

R49 x 12months

Flyers (10 000 A6 full colour)

R 1040.00

Business Cards (500 Full Colour)

R295.00

Radio Advertisement

R15 0000

Magazine Advertisement

R 7000

R26 211.00

Strengths

Exclusive service

Status to Clients

Personalized and customized service

Weaknesses

Young inexperienced company

Competitive environment

Difficult to establish client base

Opportunities

Individuals in corporate clients can become individual clients

A Training program can attract more stylists

Threats

How to develop loyal clients

How to Stress intangible cues

In our market research we asked 20 females between the ages of 20 – 60 to answer a questionnaire on our company the services it offers and interest in these services.

Majority of the female respondents went shopping once every two months and their motive for buying clothes ranged equally from special occasions, wardrobe malfunction and season changes. The majority of the respondents’ influence when buying clothes were wears ability and mentioned that they budget when buying clothes and disliked the fact that clothing are expensive.

Majority of respondents were influenced by friends when choosing styles and believed themselves to be fashionable, stylish and individual in style.

Most of the respondents believed to know their correct body shape and bra size.

They felt that they need advice in clothing selection and putting together a wardrobe

The majority said that they would like the knowledge of shopping like a stylist and the majority of the respondents were interested in a fashion guide that helps to improve image and style.

Our company targets the middle-aged, busy executive female. These individuals often have extremely busy schedules, including a great deal of travel time. In addition, they possess a large proportion of disposable income that allows them to afford custom services. Our service will allow them more concentration on work, while allowing them to obtain great apparel for that specific occasion. In the first few months the business will not be very successful as it is a new company, only from the third month of the starting period business will pick up and sales will increase.

The goal of Core Image Consultants is to become a well known company and provide a quality service for both males and females and growing in terms of stylists and location.

48

Style Consultation

R 5 600

R 268 800

36

Personal Shopping

R1 520

R 54 720

20

Wardrobe weeding

R3 300

R 66 000

6

Ladies Group Consultation

R335p/p minimum 20 people

R 40 200

2

Corporate Business Consultation

R 935p/p minimum 20 employees

R 37 400

78

Hair and Makeup Consultation

R1 000

R 78 000

500

Style guide

R 386

R 193 000

R 738 120

-R 386 531

-R 288 000

R 63 589

R 5 299

For detailed sale estimates of the business please refer to Table 14 on page 47.

2.1 BUSINESS STRUCTURE source

Core Image Consultants will be run by a close corporation where a few people own the voting stock and interest in the company.

The advantages of a close corporation includes, voting stock is in the control of a limited number of shareholders, the process of managing the overall operation is often much more simplistic.

Another benefit of private companies is that it is often easier to come to consensus on issues that are facing the corporation. Since the control of the closed corporation is in the hands of a select few people, it is much easier to dialogue on how to best position the company for future performance. Often, a great deal of casual discussion can take place among the shareholders before any formal action is taken. The result is formal business meetings that can be conducted with a minimum of fuss and without taking a great deal of time to plan and execute a course of action.

Core Image Consultants will start off as a small business and will be located in a small office space near Centurion Shopping centre for the reason being that Centurion is situated near a corporate environment in a higher class neighbourhood and a well known area for easy access for clients.

Core Image Consultants will only rent a small space to cut on costs and expenses for the reason being in the beginning Core Image Consultants will make little profit and therefore cannot cover costly expenses. Starting small will ensure less risk of failure and debt.

In the beginning the company will consist of a stylist, who is also the owner, a hair stylist, makeup artist and freelance etiquette coach. The number of our stylists will increase in the third year of our business when all loans are settled and the company has grown.

Core Image Consultants long term goal is to become one of South Africa’s renowned image consultant agencies and not only improve the lifestyles of individuals but also companies as a whole.

Core Image Consultants should register as a close corporation for legal entity at the Companies and Intellectual Property Registration Office.

Core Image Consultants needs insurance to cover the premises for risks such as fire damage, theft etc. We will also acquire car insurance as transport plays a great roll in the business. The table below suggests an estimated sum needed for insurance.

Vehicles

Premises

Core Image consultants will run from a small office space situated near Centurion shopping centre. This is to ensure easy access to the premises for clients, the premises is surrounded by a corporate environment with cliental with a higher level of income and potential clients.

The space is 60sqm and consists of three rooms, one for each stylist. The three rooms will be big enough for each stylist to provide their unique service in. The rent per month will be R 4 780. It provides all three services on location so that the client can be treated at the same place without any trouble. Safe parking is provided behind a security gate.

Bathroom

Stylist Room

Kitchen

Hair Stylists

Room

Makeup Artist

Room

Core Image Consultants will be situated in Centurion Clubview, this suburb is close to the shopping centre and surrounded by corporate companies. This is very important since the biggest service we provide is aimed at these specific companies. The premises are also easily accessible for clients outside the corporate environment. Since the business is located nearby the mall shopping trips will not require too much time and cost on petrol will be cut.

Our product will be sold in local bookstores and only a few copies will be kept on site. The publishers will mostly handle this process. Books are printed and bind at a printing company and then couriered to numerous destinations.

The process of the development of the guide underwent as follow:

Information was gathered on all subjects touched. It was sourced from other stylists, books, internet and the knowledge of our stylists.

The information was analyzed minimized and edited.

Photos were needed to support information to provide an easy readable guide.

These photos required a model, clothing and hair and makeup which were done by your own stylists.

Illustrations needed to be done by graphic designers and the layout of the guide was settled with these graphic designers.

The guide was sent to the printers where they were printed and bound.

The guides were sent to bookstores and a few copies was kept on location.

The service that we provide is mostly based on the knowledge of our stylists. Seminars and consultations will be held weekly depending on customer interest appointments will differ in beginning.

When costumers come for consultation and wardrobe weeding, old clothes would be given away to charity organizations such as hospice etc.

The table suggests a monthly schedule for Core Image Consultants.

08:30- 16:30

Styling Consultations

08:30- 16:30

Styling Consultations

08:30- 16:30

Corporate Consultations

Styling Consultations

08:30- 16:30

Styling Consultations

Personal shopping

08:30- 16:30

Ladies Group Consultations

Styling Consultations

08:30- 13:00

Hair and Makeup consultations

Wardrobe weeding consultations

The style guide will be distributed to cities where female consumers care about their image and style. The Style guide will be produced country wide in as many bookstores as possible. Our service will only be distributed from travelling and later expand to more locations.

For our guide a publisher will be required to sell and overlook the process as well as supplying financial aid.

Core Image Consultants will have a no credit policy, the reason being; Core Image Consultants is a small business and has lack of capital it will be beneficial for the risk of financial failure. Core Image Consultants will only accept cash.

Equipment such as mirrors, make up, colour swatches, fashion books and magazines, computers, computer software that gives the client a virtual beauty makeover before actual hair cutting. Makeup and Hair stylist will need all their equipment such as scissors, brushes, but all these usually are given when you study these courses.

Mirrors

R 1200

Fashion Books

R200

R600

Magazines

R200

R400

Computers

R 5000

Computer software

R2000

Makeup brushes

R7000

Hair equipment

R8000

R20 400

R 4 200

Core Image’s main goal is to become a premium quality service and will try to attain this status. By ensuring to keep up with trends on runways and stores, keep building knowledge of industry such as reading other stylists books to ensure up to date familiarity, ensuring all employees are qualified and highly recommended by institutions or organizations we will achieve such quality.

Control checks will be done on stylists on a regular basis, such as hygiene, appearance etc. Feedback will also be asked from clients on specific stylists.

Core Image Consultants will register with the SA professional image consultants association, which is a website www.ImageSouthAfrica.co.za, was acquired in 2004 by 1st Solutions Executive Image Consultants. After recognising the possibilities and future of Image Consulting in South Africa, it became apparent that the need for such an association had arisen and it has become vital to the wellbeing of the profession.

Core Image Consultants will make use of cell phones, land lines and internet. Clients will be able to reach the company through these forms of communication.

Core Image Consultants will be open from 9 till 5 weekly and on Saturday mornings for those who won’t be able to leave work. Special arrangements can also be made for things as ladies night, weddings etc.

The business will open in a year’s time, to perfect all products, services and employees.

A diagram showing the positions needed to run Core Image Consultants. During the first two years, the owner and stylist will employ only two other employees, makeup artist and hair stylist and use a freelance etiquette coach for certain services. When the two year period is over, or the business is successful and needs to expand, Core Image Consultants will increase the number of stylists.

Fashion Stylist

The owner has a degree in Fashion design. The responsibilities of the stylist includes:

Keeping up to date on fashion trends and styles.

Providing accurate information for clients on clothing and their body type

When shopping for clients , have access to discount at certain stores and maintain personal relationships with mentioned stores. Also the stylist needs an accurate understanding on what a specific client wants and the ability to provide the correct clothing.

The stylist needs to know what the essential pieces in a wardrobe are and when providing the wardrobe weeding service have the ability to make the client understand why clothes were thrown out and not be offensive.

The stylist should be able to communicate with a large group of women during the Ladies group consultation and corporate style and business consultation.

It is also the stylist’s job to ensure the business runs smoothly.

Hair Stylist

The hairstylist will need to have education and experience on the subject and also own equipment. The responsibilities of the hairstylist includes the following:

To obtain knowledge on current hairstyles and face shapes and hair styles.

Knowledge on taking care of hair.

The ability to explain this knowledge to others.

Makeup Artist

The makeup will need to have education and experience on the subject and also own equipment. The responsibilities of the makeup artist includes the following:

To obtain knowledge on current make up styles and face tones, skin problems etc.

Knowledge on taking care of the face and makeup.

The ability to explain this knowledge to others.

Etiquette coach

The etiquette coach will need to have education and experience on the subject. The responsibilities of the etiquette coachincludes the following:

Knowledge on etiquette

The ability to explain this knowledge to others.

Business term loan

Business term loans are a relatively simple way of securing funds for any period up to eight years that is repayable in equal monthly instalments.

Benefits

Your Business term loan may be used for the following:

Purchase of fixed assets, for example, property equipment.

Refurbishments and alterations.

Acquiring a new business.

The loan period is not fixed but is determined by your monthly repayments, which include interest and capital.

The minimum loan amount is R50 000 and there is no maximum, depending on what you can afford.

Additional funds deposited over and above your monthly agreed repayments will be available for withdrawal subject to a minimum of R10 000 and multiples of R1 000.

The account can be linked to electronic channels.

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Communication Is A Crucial Determinant Of Business Relationships Marketing Essay

Marketing » Communication Is A Crucial Determinant Of Business Relationships Marketing Essay

Explain the communication process. How does one ensure that the intended audience has received the right message?

What is communication? Communication is the process of relaying the message such as idea or information that is sent and perceive by the others. It involves speaker and receiver. When the receiver understood the meaning of which send by sender, the communication is completed. People, animals or devices can be the sender and the receiver.

Effective communication is meant by receive and understand information in a manner intended by the sender of the receiver to do so, stimulate other to take actions, and encourage people to think in new ways that is the process of effective communication. That mean we are able to express ourselves by verbally and non-verbally in the ways to appropriate to our cultures and situations. We also need our fears to ask for advice and helps.

Communication can be formal or informal, spoken or written and internal or external. In fact, it can even be a simple smile. Communication can be divided into verbal communication and non-verbal communication.

Verbal communication is meant that the communication is with words. It is quite complex because different country have different languages and each languages have millions of words. To make language exchange is meaningful, but generally have a voice in the series likely to be accepted meaning of understanding. In other words, voice and text communication is not enough: people send messages and receive messages and the general must have a shared cultural background or knowledge, so that they understand these sounds to mean.

Non-verbal communication is means the communication without words which is by body signal. For example is gesture, body language or posture; facial expression and eye contact, object communication such as clothing, hairstyles, architecture, symbols, and by the above combined.

 Communication occurs in many forms. You can pick up the phone and have a conversation with your supervisor or leave her voice-mail message if she is unavailable. You can choose, instead, to write her a memo and send it by e-mail. In turn, she can respond to your message in the form of her choice. Your supervisor may decide to forward your message to other employees or managers, and they may communicate it to customers and other outsiders. The process is fluid; the form in which a message is communicated changes constantly.

In the communication, there has the communication process. Communication process is meant that the process which consist of a message being sent and received. The message can be verbal or non-verbal communication. This is the feedback element, in order to ensure that you receive the message as intended. Communication is the lifeblood of an organization. It includes the structure through which message pass and the way information is presented, as well as the actual content of the message them. Whether you are speaking or writing, listening or reading, communication is more than a single act. The communication process consists of 4 main key components such as encoding, channel and medium, decoding and feedback. Thus there are also have others components which is sender and receiver in the communication process.

Receiver sends feedback to sender.

Receiver interprets message. (decoding)

Receiver gets message.

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Sender transmit message.

Sender transforms idea into message. (encoding)

Sender has an idea.

Sender as the instructor of the message, we need to formulate the message that you intend to communicate. There are two factors will determine how effective the communicator will be that is the communicator’s attitude and selection of meaningful symbols. You conceive an idea and want to share it. And the sender transforms the idea into a message. External barriers such as noise must also be considered. 

Message is the communication in writing, in speech, or by signals. And also it is both sent by the information source and received by the destination. To physically transmit your message to your receiver, you select a communication channel and medium. 

Carrier or channel, which is no label from a small box in the model represented. The most common sources of air, light, electricity, radio waves, paper and postal systems. If so, and the students own internal barriers. Possible internal barriers may include the student's level of experience, their understanding of the terms used, their attitude toward the material, or the way they feel about you. Third, your students, through the use of psychological decoding image information. For example, when you say the word circus, the receiver does not "see" the letters constitute a word. On the contrary, there is some kind of mental image.

The receiver is simply the person receiving the message, making sense of it, or understanding and translating it into meaning.  For communication to occur, your receiver must first get the message. 

The receiver interprets the message. Your receiver must cooperate by decoding your message, absorbing and understanding it. Then the decoded message has to be stored in the receiver's mind. If all goes well, the message is interpreted correctly; that is, the receiver assigns the same basic meaning to the words as you intended and responds in the desired way.

Feedback is that reaction I just mentioned. It can be a verbal or nonverbal reaction or response. It can be external feedback (something we see) or internal feedback (something we can’t see), like self-examination. It’s the feedback that allows the communicator to adjust his message and be more effective. Without feedback, there would be no way of knowing if meaning had been shared or if understanding had taken place.

The communication process is repeated until both parties have finished expressing themselves. The process is effective only when each step is successful. In other words, idea cannot be communication if any step in this process is skipped or is completed incorrectly.

The barriers of communication in between of people can ensure that the intended audience has received the right message. The barriers of communication which can ensure that the intended audience has received the right message such as differences in perception, incorrect filtering, language problems, poor listening, different emotional states and different background.

 These annoyances don't generally block communication, but they may reduce the receiver's concentration. Communication barriers, even if you successfully complete these six steps, other hurdles may prevent you from communicating affectively. Communication barriers, even if you successfully complete these six steps, other hurdles may prevent you from communicating affectively. Communication is successful only when the receiver understands the message as intended by the sender. Noise is any interference in the communication process that distorts or obscures the sender's meaning. Noise takes the form of various communication barriers and can exist between individual as well as within organization.

For a businessman, communication is very important for them to do the business. The success of any business is to network as much as possible and establish a sound, because it is not personal skills and business savvy professional relationship. Communication is a crucial determinant of business relationships. This is very important to say, at the right time, in the appropriate locations, with partners, customers and stakeholders to address the right thing. Any improper or ambiguous communication can pour your hard work, a bucket of cold damage in today's competitive business environment, the chance of survival. Maintenance of oral and written business communication is the most important professional etiquette must not be taken lightly. We should be grateful that we are in an enlightened age, we have in the sun for any training opportunities to live! Today, many courses are available, for development of communication skills on how to improve business communication skills and correspondence courses, and training. Effective communication skills in business in a very long way to go to cover your success.

As the Product Manager of a soon-to-be-launched product, explain the methods, the medium, and the vehicles that you would use to communicate with your target audience to persuade them to buy your product. Produce one (1) advertisement for your product. *student may decide on whatever product that they wish.

A pencil case or pencil box is a container used to carry pencils. A pencil case can also contain a variety of other stationery such as a pencil sharpener, pens, erasers, a stapler, and a calculator.

Pencil cases are usually made of either hard or soft plastic. Soft versions are typically fastened with a zipper. Decorated versions are popular with school children, often with licensed character artwork. In some regions, guidelines during examinations for students require for pencil cases to be transparent, to prevent the hiding of notes within for the purposes of cheating.

Pencil boxes are usually made of hard plastic or wood, while the term pencil case is broader and often refers to a container made of soft material such as fabric, leather or soft plastic.

Now we want to change the pencil case to become a cosmetic bag also. It will bring more benefits to others to earn more and more money. The bags can do it in many where.

As a pencil case’s product manager, we will soon to launch out a new pencil case product to make sure it can bring more benefit to others. Our pencil case named as YMY. It is a case that consumer can take care of their things carefully, this is the function of the pencil case. Beside, consumer can also to keep things nicely, and won’t be an untidy people. And then, the product material has passed the Societe Generale de Surveillance (SGS) test, meet European standard and have excellent experience exporting to Euro and USA countries.

Recently, the target of pencil case is children. But now, we add on a new target which is woman. For ladies, they like to keep on their cosmetic such as mascalar, eyeliner, lipstick and so on inside their cosmetic bag. Thus they can put the cosmetic case into their handbag, and become nicely. When we need it, we no need to search and find it every where, it will be keep in nice in bag so that we can easy to find it.

Next is price of the product. The price of the product, we will set it as cheap as possible because not everyone has ability to buy it if we set the price too high. Pricing must be competitive and must entail profit. The pricing strategy can comprise discounts, offers and others. So we set the price of pencil case as RM14.90 only. We won’t set it at very high, just set it at normal price, so that it can give an opportunity for everyone to buy it.

When buying children's products are not limited to stationery, in addition to the preferences of children themselves, the parents pay only a selection of its leadership. In addition to children with can cause Xing, boom on the eve of the new semester started, but also all kinds of new goods is the market a great opportunity to attract consumers attention.

Even today most prices of pencil case are decided on the basis of the competition in the market. Discount price YMY products are often marked down during sale periods and special occasions. This will follow it: Generate sales Increase profits. We can put our product in the shop such as Guardian and Watsons because these shop have selling cosmetic for lady. Lady likes to spend more time to shopping this type of shop to buy their cosmetics. Thus we put our product near to the lady cosmetic also.

First of all, we design a leaflet with colourful to attract the consumer especially is for the children. After that, we put the leaflet into the newspaper, lady magazines, and so on. Besides that, we also can distribute the leaflet around the offices and stationery shop and also explain the benefit of our product and let them take it back to home and consider it can or buy or not.

We also can use this type of promotion to promote our product: buy one free one. For example: when consumer buys something that above RM100.00, the cashier prepares it to send for the consumer as a free gift. It is based on consumer behavior, because many people like the small gift. Besides that, consumer can take it to send to her friend or whatever as a souvenir to them.

If they buy more, they can have a cheaper price or maybe will receive some free gift. It will be the best to attract the consumer to willing to buy the product. If really buy more, we have to prepare a van to send the goods to your house. This is another service for those who are buying many goods from us.

We can also advertising it in the prime media such as television, newspaper, magazines, and so on. After we promote it by our promotion, we can take the feedback about the product that we sale from the consumer and then to alter our product and make it become more perfectly and usefully to all consumer.

Our product material has passed the Societe Generale de Surveillance (SGS) test, meet European standard and have excellent experience exporting to Euro and other countries. This can protect consumers by choosing our product. Combination of sewing skills of the design of the small case. The design of our product is owned by our designer. They design it accordingly to the taste of the consumer. We offer our product in justice price so that consumer will think that it is value for money. The box size is big and it will help to keep a lot of things in our product.

Businesses must think about products on three different levels, which are the core product, the actual product and the augmented product. Consumers will buy YMY pencil case because of the high standards and high quality material of our product. Actual Product-Marketer must then build the actual product around the core product. We could about it in the marketing mix. Augmented product-offer additional consumer benefits and services. But YMY pencil case provide the warranty of the pencil case, if have any problems within one year, we will give the service for customers who are not satisfied with product or wish to give feedback on the products.

Production needs in time and meet the requirements of the places from the wholesalers. It must also be effective, so as not to build inventory and inventory stock prices. Marketing needs to be inspired and the product knowledge. Such as advertising promotions forms, must attract and attractive target market to get the most exposure possible product. This will ensure the success of products in the store. The distribution of the product must be valid.

As a conclusion, the company must determine for different market segments and to keep in the forefront. Most marketing programs started to provide the company's marketing strategy of the overall situation, and then down into the details of how the practical realization of these goals and objectives. Most business owners should set a goal of the marketing budget, and provide the plan will be implemented in different ways. Another smart technique to use in a marketing plan is delegated responsibility to a specific person within the company. 

The plan should determine what type of customers targeted and the reason is for these particular clients. How to attract these customers will be the details of the products or services should be included in the program, and how these specific marketing strategy, will help to preserve and maintain existing customer loyalty. Customers are top priority within the company, how is the digital marketing plans to attract customers within a priority. 

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Customer Relationship Management Provides Improved Business Marketing Essay

Marketing » Customer Relationship Management Provides Improved Business Marketing Essay

Customer relationship management (CRM) has been widely considered as a business strategy for the business organizations to develop and retain customers through increased satisfaction and loyalty. Nowadays, in a competitive, technology-enabled and connected business world, the expectations of the customers are rising and it is far more expensive to acquire a new customer than to maintain relationship with existing customer. At present it is easy for the customers to interact with different brands in different ways more widely. So it is very important for the marketers to develop beneficial long-term relationships and engage with customers actively.

In recent years academicians and practitioners understand the importance of effectively manage of customer relationships. Their studies suggest that Customer Relationship Management (CRM) provides improved business opportunity, though it has mixed performance reviews in the extant literature so far. CRM builds a long term and sustainable relationship with the customers of a business organization and it could manage and recognize customers who are the core of a business. CRM systems can assimilate customers data from the organization and analyze the data to predict the buying behaviour of the customers and can also distribute result for different purposes of the organization. By analyzing customer information form CRM systems, companies can identify the most profitable customers and can increase sales revenue.

The purpose of this research is to study of Customer Relationship Management process and its effect on business. It will also explore the impact of CRM on customer retention and customer loyalty. The relationship between CRM technology adoption, market orientation and relationship marketing will also be discussed.

Key Words: Customer Relationship Management, Customer Retention, Customer Loyalty, Relationship Marketing, CRM Process, CRM Strategy, Market Segmentation.

“The customer is always right” or “The customer comes first” are two very popular phrases and today in the competitive business world these words are truer than ever. The term Customer Relationship Management (CRM) became very popular in late 1990s. After that it offered business organizations to interact with its customers on a different level. According to Turban & Volonino (2010 p.383) “Customer Relationship Management (CRM) is an enterprise wide effort to acquire and retain profitable customer.” It supports effective marketing, sales and services processes. So many companies are beginning to focus on CRM because the services that CRM provides can create high customer loyalty which is helpful for company’s profitability.

Treat different customers differently is the main theme of CRM, because the value of the customers to the company and their needs may be different. It is an enterprise system which could manage and recognize customers who are the core of a business and the success of a business depends on effectively managing relationship with them (Turban & Volonino 2010). By analyzing customers’ information form CRM systems, companies can identify the most profitable customers and can increase sales revenue. CRM builds a long term and sustainable relationship with the customers of a business organization. In a small business it is possible for manager or business owner to know the customers face to face or on a personal basis but for a business which is regional, national or multinational it is impossible to know all the customers in the same intimate way. Research by Laudon & Laudon (2006) point out that it is very difficult to interact with the huge number of customers for the business organizations where all the information is collected in different ways such as over web, telephone, fax or even face to face. But CRM systems can assimilate the customers’ data from the organization and analyze the data to predict the buying behaviour of the customers and can also distribute result for different purposes of the organization. Laudon & Laudon (2006) illustrate that companies can get various benefits such as customer satisfaction, reduced marketing cost, more effective marketing and even lower cost for customer acquisition and retention by using CRM systems.

CRM is the generally accepted purpose for the business organization to better serve its customer through reliable processes (bring together various information about customers, sales, marketing effectiveness and market trends etc.) and interaction with those customers. By using CRM systems organization can learn more about customers’ needs and behaviours and can develop stronger relationships with them. CRM Strategy is based on the concept that an organization's most valuable asset is the customer and the organization must manage its customer relationships wisely. Having the various departments of the organization (such as: marketing, sales and service) gather qualified information will create a database which is of real value to the company. Establishing defined processes for data retrieval will allow effective use of the data and a uniform platform for customer relations management as well as optimal customer service. Thus, an in depth organizational change that supports CRM is required throughout the marketing, sales and service departments.

Nowadays companies are changing their business strategies rapidly. As a result companies are facing new situation every time. The first reason of changing strategy is, people are changing their lifestyle and consequently the patterns of consumption. And another reason is the rapid development of technology. Both companies and customers have affected by new technologies. By using different communication technologies customers are continuously informed about products and the knowledge of the customers about products are increasing significantly. This increased knowledge leads the customers discover new options which decreases customer loyalty. On the other hand with the use of new technologies companies are changing their way of marketing. Finally, business organizations are facing domestic as well as global competition on the market and this competition is increasing day by day. In order to reach success, companies must find new long-term competitive advantages.

Advance technology, the rapid increase of the internet, one-to-one marketing techniques and customer relationship management (CRM) has become a key factor of marketing (Payne & Frow, 2005). There has been a significant increase in CRM related research over the last few years (Kamakura et al., 2005; Ngai, 2005). Many academics claimed CRM is closely related to relationship marketing. Strong customer relationships are important for customer loyalty which leads in turn to corporate profitability and information technology can build strong customer relationships. CRM has become essential marketing and business philosophies for many business organizations. For a business it is very important to establish, maintain and enhance customer relationships.

Modern technologies enable businesses to implement CRM systems which can create linkage between marketing and technology and can establish long term relationship with large numbers of customers in a cost-effective manner (Peppers, Rogers, & Dorf, 1999; Reinartz & Kumar, 2000). By collecting customer information such as transaction, buying behaviour, media and channel preferences, marketers can create personalized product and service for the customer offerings that could build customer loyalty and enhance profit (Niraj, Gupta, & Narasimhan, 2001; Venkatesan & Kumar, 2004; Verhoef, 2003).

Despite these advance technologies and huge investment, CRM faces serious difficulties and implementation failures (Arnold, 2002; Davids, 1999; Doherty & Lockett, 2007; Ragowsky & Somers, 2002). There are various reasons for which CRM projects suffer high failure rates including the lack of corporate customer focus, management commitment to customers, management change, and people, technology and process issues (Kale, 2004; Raman & Pashupati, 2004). According to the research it has been estimated that 30% - 70% of all CRM projects fail to produce results during the year 2001 to 2009. A survey conducted by the data warehousing institute of 1,500 companies found that 91% of businesses plan to or already deployed CRM technology and among them 41% of the firms with CRM were experiencing significant problems (The Data Warehousing Institute, 2000). Davis (2002) claimed that many CRM implementations fail to meet basic business goals and up to 70% of companies do not realize the benefit of CRM projects.

In spite of the continuing implementation problems of CRM, many academics and practitioners continue to believe that CRM technology offers the potential for substantial benefits to business organizations through improved customer relationships, customer retention, satisfaction and enhanced profitability (Bohling et al., 2006; Payne & Frow, 2005). The challenge many enterprises face is realising the considerable advantage brought about by leveraging CRM technology and relationship marketing effectively (Chalmeta, 2006; Ngai, 2005).

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Business

Sample employment contract

This agreement, into this _ _ _ day 7 [month], 2013 __, between [company], a [State of incorporation] (the "company"), and [name of employee] ("servant"),

DECLARE THAT:

SHOULD the parties hereto desire to enter into this agreement to define and set out the conditions for the employment of the employee in the company;

NOW, in view of the mutual covenants and agreements set out below, it is therefore hereby covenanted and agreed by the company and the employee as follows:

1. Position; Employment Period

The Company hereby employs employee as its [location] and the employee agrees to serve in such capacity for the period beginning [start date], 20 _ _, and ending on the day on which the employee's employment is terminated in accordance with section 8 below ("employment period").

2. Execution of tasks

Employee is that in the period of employment he shall devote his full time to the business affairs of the company and shall serve faithfully and efficiently under the direction of the [PRESIDENT]; provided that the foregoing shall not limit or prevent the employee from serving on the Board of Directors of charities or other companies not in competition with the company. Employee shall not be assigned duties and responsibilities which are not generally covered and associated characters or required by other similar rank and position.

3. Compensation

(a) subject to the following provisions of this agreement, in the period of employment, the employee is compensated for its services as follows:

(b) he shall receive an annual salary payable in monthly installments or more often, by an amount which initially shall [$ amount] per year, such increases as may from time to time ...

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Initiate Changes in the Corporate Culture of the Business

QUESTION 4

You have been appointed as a manager at a leading bank. Your main responsibility will be to initiate changes in the corporate culture of the business. You are required to outline all the aspects that you will consider when initiating this process.

Currently, to lead in the 21st century organization become more challenges, as a manager in bank leading toward excellent organization needs more changes. There are several management changes that manger need to change its culture. Basically, leadership roles must be upgrade because nowadays as manager they need a lot of thinking and variety of skills such as motivation, drive, honesty, conceptual ability, mastering in technology, lifelong learner and great communicator. As manger also need to show high performance to make sure every staff in bank get inspired to do better in their performance.  
Before initiate changes, as a manager in this bank need to choose stretch goals to make sure which part should be changes and to identify outstanding practices, process and standards in other successful organization to be adapted in this organization. On the other hand, as a manager need to plan for contingencies, in case some of the new changes cannot be adapted by management in this bank. To be more understand about organization flow and to solve management problems, a manager must planned from Bottom-to-Top which means, manager must know and understand what is problems that their face and asks opinion from lower level manager   what needs to be changes.
As a manager also must be open minded and able change mind in adaptation to technology changes, because currently this organization practices slow flow management especially first line management which directly dealing with customer. Firstly, avoid customer waiting too long, provide more counter and the counter must be available because having more counter without staff will make customer complaint and they will find other bank that will serve them better than...

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