Small Business Marketing

The term market refers to the aggregate of all demand for a particular product or service arising from the aggregate of all consumers – both existing and potential for the product. Markets vary widely from one another since the consumers who constitute the markets vary widely in their characteristics. Even a specific market for a given product is not totally homogeneous.

In small business marketing, a market is split up into several smaller units, each with homogeneous characteristics; it facilitates the effective tapping of the market. Market segmentation is the process of disaggregating the total market for a given product into a number of sub-markets. The heterogeneous market is broken up in the process into a number of relatively homogeneous units.

The process is based on the recognition that any given market or consumer group is made up of a number of subgroups distinguished by varying needs and buying behavior. Also, it is feasible to disaggregate the consumers into suitable segments in such a manner that the characteristics of the segmented groups would vary significantly among segments but would also be identical within segments.

Market segmentation confers several benefits on the marketing man. In the first place, it helps him distinguish one customer group from another within a given market and thereby enables him to decide which segment of the market should form his target market. It also enables the effective crystallization of the specific needs of the buyers in the target market and facilitates an in-depth study of the characteristics of the buyers.

When the buyers are approached after careful segmentation, responses that are predictable would be forthcoming from them. This would help the marketing person develop his marketing program on a predictable and reliable basis. When the needs and characteristics of the customer group have been brought into a clearer focus, marketing offers that are most suited to the particular customer group can be easily developed.

Choosing the Right Business Brokers

Whether you’re buying or selling a business, having a broker on your side can make the difference between a successful outcome and a nightmare. However, not all business brokers will be suitable for your specific situation. Use the tips below to choose the right broker for your needs.

Start by asking for referrals from your inner circle of business advisers and colleagues. Have any used a business broker in the past? Were they satisfied? Does the broker handle the type of transaction you have in mind?

You may need to widen your net to find a pool of qualified business brokers that specialize in brokering deals such as yours. Once you have several potential brokers, it’s time to get down to business and narrow the field down. Below are several key factors to consider:

– Is the individual or firm professional? Professionalism shows in numerous ways including personal appearance, the presentation of marketing materials, website, language, mannerisms, and expertise. Use both objectivity and your gut instinct. Remember, the broker you choose will be representing your business so make sure you’re fully comfortable with the person and firm you choose.

– Does the broker have experience working with businesses like yours? While it’s not necessary for the business broker to have specific experience in your exact niche, it’s helpful for the broker to understand the nature of your business and have experience brokering deals with similar characteristics. For example, if you run a family-owned microbrewery, a broker with a successful track record brokering deals for small wineries, family-owned specialty food manufacturers, or small brewpubs may not know the finer points of brewing beers but could be an excellent choice thanks to experience with similar businesses.

– What qualifications does the broker have? Look for licensing, education, certification, experience, and membership in professional associations.

– Is the broker well prepared? In other words, did the business broker do his or her research prior to your initial meeting? Brokers use comparable sales, business and industry reports, and other tools to price businesses. Your business broker should be able to support any suggested listing prices, which should be presented in writing, with documentation.

– If you are selling your business, find out how the broker intends to market your business. Brokers have many marketing tools available to market their business listings. However, some prefer to use specific marketing techniques over others. Make sure to ask the broker to present a detailed marketing plan.

– What type of businesses does the broker work with? For example, if your business has annual revenues in the $50 million range, you’ll need a special type of buyer making it important to choose a business broker capable of attracting those high net worth individuals and investors.

– Check references. No matter how professional, personable, experienced, qualified, and prepared potential broker appear, cover your bases by checking references. Ideally, the broker should give you references from businesses with similarities to yours.

Choosing the right broker to sell your business or help you find a business to buy is a process. Do your part to ensure a successful outcome by choosing wisely.

VoIP Business Solution – Today’s Modern Office

With today’s current communication technology many businesses are seeking out a Business VoIP solution to connect their office VoIP PBX with a VoIP provider service to decrease cost of company calls dramatically. This is obvious from the fact that a traveling sales representative once had to report to the corporate office about the sales figures through public phones or mobile phones.

The most rewarding benefit of a VoIP business solution provides your company with the ability to virtually operate your business operation from any location, plus having the flexibility allowing your employees to work from home or wherever them may desire.

Wireless VoIP provides huge flexibility to a workforce that is geographically spread out, VoIP solution employees can be connected to a WiFi-based home and office networks, meaning they can be quickly reached wherever they are. Users can easily activate any working telephone into their office phone, allowing them to place and receive calls from remote phones, have the ability to display a business line ID and route billing calls back to the office.

Wireless VoIP can also dramatically improve call quality, especially in congested areas such as office blocks; basements etc where traditional mobile network coverage is usually patchy at best.

The advantages of a VoIP business phone system, all the offices on a LAN or WAN can share the benefits of having a common office phone system. In addition, even if you have offices at different locations, Business VoIP allows calls between them via extension dialing, making it a zero cost call. VoIP also allows you to safely set up a fully functioning office anywhere a broadband connection is available including the home office and telecommuters.

Today’s office voice communication systems feature call forwarding, voice mail, conferencing, hunt groups, hold and divert, and more. VoIP business services allow company offices to make calls to one another by dialing extensions that may be in the same office or at a remote office without incurring long-distance charges. This modern day technology also allows business managers now to conduct meetings with full audio-visual interaction from the safety and comfort of their office or home or anywhere there is a high speed internet connection.

Many companies use a central office exchange service know as Centrex, which is basically a VoIP PBX solution in which all routing occurs not on company premises, but at the local telephone company. With a business class VoIP T1 system, service is usually delivered to your office and provides both VoIP voice lines and Internet service.

Businesses with Centralized Operations: Since VOIP Hosted PBX service combines all business locations and remote employees together under one system, if a business has an office in an area affected by a disaster, they can easily direct one of the other office locations to handle all calls being made to the affected location. Make sure to compile a list of all the features your business or office and may benefit from today, and possible future expansions as your business grows.

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