...BUSINESS DEVELOPMENT FOR BEGINNERS: 3 STEPS TO ACQUIRE AND KEEP CUSTOMERS Arie Abecassis INTRODUCTION ARIE ABECASSIS ‣ Venture Partner, Founder Dreamit, AppStori INTRODUCTION ARIE ABECASSIS ‣ Venture Partner, Founder Dreamit, AppStori ‣ Investor, Advisor Adaptly, BizApps, inkky, MAZ, SeatGeek INTRODUCTION ARIE ABECASSIS ‣ Venture Partner, Founder ‣ Operator Dreamit, AppStori ‣ Investor, Advisor Adaptly, BizApps, inkky, MAZ, SeatGeek Marvel, MindFireInc, SecondMarket, Thomson Reuters, Updata Partners 3 STEPS TO ACQUIRE AND KEEP CUSTOMERS CUSTOMER ACQUISITION STRATEGIES PRICING REVENUE MODEL DISTRIBUTION STRATEGY END CUSTOMER INFLUENCERS 3 STEPS TO ACQUIRE AND KEEP CUSTOMERS Customer experience RETENTION AND CHURN Competitive options Switching costs 3 STEPS TO ACQUIRE AND KEEP CUSTOMERS KEY #1: UNDERSTAND RELEVANT MARKETING CHANNELS 3 STEPS TO ACQUIRE AND KEEP CUSTOMERS KEY #1: UNDERSTAND RELEVANT MARKETING CHANNELS Who is your end customer and how are you going to get to them? 3 STEPS TO ACQUIRE AND KEEP CUSTOMERS DIRECT SALES ‣ Search (SEM, SEO) ‣ Social Media (Facebook, Twitter) ‣ Digital and mobile media ‣ PR / Events ‣ Paid Media (traditional media) ‣ Outbound Sales PARTNERSHIPS ‣ Referral ‣ VAR ‣ OEM ‣ APIs 3 STEPS TO ACQUIRE AND KEEP CUSTOMERS KEY #2: METRICS THAT MATTER 3 STEPS TO ACQUIRE AND KEEP CUSTOMERS KEY #2: METRICS THAT MATTER What are the drivers...
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...Customer satisfaction survey questions for 5 star hotel. (Closed-ended questions) 1. How is the cleanliness of your room when you first entered your room? a. Extremely clean b. Clean c. Neutral d. Dirty e. Extremely dirty -This question enables us to find out about customer’s satisfaction on room cleanliness as well as effectiveness of cleaning staffs. 2. How would you rate our hotel’s facilities (e.g. gym, swimming pool, ball room, conference room and others) Please state the facilities that you have used during your stay : _________ a. Extremely Satisfied b. Satisfied c. Neutral d. Unsatisfied e. Extremely Unsatisfied -This question aims to find out about customer’s satisfaction on hotel’s facilities as well as efficiency of the facilities maintenance department. 3. How satisfied are you of the hotel’s parking (cleanliness, how well is it managed)? a. Extremely Satisfied (It’s one of the best I’ve ever seen!) b. Satisfied (Not bad… ample parking spaces and reasonably clean) c. Neutral (Not much to comment / I don’t drive here) d. Unsatisfied (I rather park outside) e. Extremely Unsatisfied (You call that a parking??!) -This question asks customers regarding their satisfaction on the hotel’s parking in terms of cleanliness and how well is it managed. 4. Was what you experienced (use of rooms, parking, facilities and other services) during your stay worth the price you paid? a. Extremely...
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...Life time value of a customer: Concept and Application Introduction In today’s dynamic business world of changing face of customers is a challenge to reckon with. Companies are increasingly faced with the task of keeping track of their customers, maintaining consistency within the organization and satisfying needs so as to enjoy continued patronage. It’s requirement to build and maintain successful individual-level customer relationships in order to maximize profitability and ensure customer loyalty for future profitability. Relationships with customers are not always secure. It is difficult to predict for how long the customer is going to stay with a firm in a non-contractual setting. Customer management strategies are aimed at addressing the needs of every customer and by developing a one-on-one relationship with them Companies’ outlook can be broadly categorized into two types namely, Product-centric and Customer-centric. Product-centric firms concentrate more on their product line and therefore on increasing the product line for customers. In marketing, the economic value of a customer during the life of the customer's association with a business. An estimate of customer lifetime value allows a business to determine the amount of money that can be spent on acquiring and retaining a customer .The shareholder value and the customer lifetime value approach are conceptually and methodically analogous. Both concepts calculate the value of a particular decision unit by discounting...
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...Purchasing/Supplier Management SCM-5004 Individual Assignment Manitoulin Transport acquires division of Westcan Freight Systems Professor Michael Kirk Purchasing/Supplier Management SCM-5004 Individual Assignment Manitoulin Transport acquires division of Westcan Freight Systems Professor Michael Kirk Prepared By: Khaldon Ismail Student No.: N01027217 Date: October 2014 Prepared By: Khaldon Ismail Student No.: N01027217 Date: October 2014 Table of Contents Introduction: 2 How Manitoulin Transport acquisition related to our Supply Chain Study: 2 TL & LTL Trucking Business: 2 The new acquisition challenges and effect on supply chain sector: 3 Conclusion: 4 References 4 Introduction: Our subject in this assignment is about truck transportation mode where Manitoulin Transport one of the biggest transportation company in CANADA, acquires the LTL division of Weastcan Fright last month September 2014. How is this acquisition related to our study in supply chain management, what is meant by LTL trucking, what challenges would face Manitoulin Transport due to this acquisition, how this acquisition would affect transportation business in western CANADA in terms of cost, service, customers, suppliers, and others in the field of supply chain ….. Etc. All of these and more, we will try to investigate and explain to our valuable reader. How Manitoulin Transport acquisition related to our Supply Chain Study: Supply chain management is the...
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...vital component for a company. It can decide whether one firm will success or not. In this situation, learning how to draft and renewal a strategy plan will apparently help improving one company’s performance. Studying how the successful companies position themselves in many paradoxes are also very important. Taking the consideration of the representative and the using for reference for other industries, FedEx is chosen as the case study. FedEx, one of the world’s biggest express transportation and logistics companies, has been used many times as an excellent case to help people learn strategy management and acquire experience. It was founded in 1973. With the development of the company, FedEx transferred itself from a traditional express transportation company to a technical global logistics company. It absorbed the upcoming technology and make itself adapting to the change of the industry and the world to acquire the advantage of competition. FedEx spent a large amount of its resources and money on Information Technology and the R&D department to invent new information systems and develop new services. As the competition of the express transportation industry became more intense and took more consideration on customer segmentation, pricing and quality of service. FedEx developed new products and services to consolidate its advantages to acquire cognition from more customers. Also, many acquisitions occurred so that FedEx was capable of broaden its service portfolio and enhancing...
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...Executive Summary It will be provide the description about the FedEx (Federal Express Corporation) include industry type, competitors, leadership and so on. Also include the background and the internal and external problems like employee reward and recruiting. This report also provide the current leadership style and also the evaluation of leadership style which the basic reward system and motivated reward system. At the same time, describe of the internal leadership , which the Strength and weakness of leadership include the motivation relation, team dynamics, decision making and so on. In additional, we will show how the leadership strategy is going to affect the organization success and also provide the feedback and recommendations to achieved the company goals in the future and the increase of market share for the organization. 1. Introduction of Company Background Federal Express Corporation (FedEx) was built in 1971. The company was operating on 1973 and flies to 186 distributes within 25 cities in the US. However, in a 40 years later FedEx has grown to 658 aircrafts, deliver 7.500.000 packages per day and more than 220 countries around the world (FedEx, 2015). All this was a possible thanks to FedEx’s global acquisition strategy, the main competitive advantage, which has given the company a unique ability to access various markets around the globe. The multiple built firms and companies acquired by FedEx in various countries have all been integrated...
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...as Boomers doesn’t know how a newly designed product is going to stand in market, is it desirable and useful, or pointless. The desirability of a product will determine how well it sells, if it doesn’t sell as well as Boomers had hoped or intended, it would be either withdrawn and dropped from production or re-designed is some way, but as Boomer s designs and produces their products to mean their customers exact requirements, they do not have this problem as it will always sell to the customer who desired that exact product. When Boomer makes the decision of what price they wish to charge customers for a certain product, it could have a great impact on the amount of that product which sells. This is due to the economy in which the customer operates in e.g. Euro or Dollar, as exchange rate fluctuate and it may not be cost effective for their customers to purchase of Boomer at the increased rate, and could possible acquire the same products at a cheaper cost elsewhere. Or maybe the customer can acquire the product cheaper elsewhere inside the UK, but as Boomers does not have a set price for one product, but determines a price for the complete order of the customer, they set a price on the work taken to produce that order and on the reputation and relationship with that specific customer. Boomers may have to set up a marketing campaign in order to fund research on products, pricing and advertising, which can be costly, Boomers would have to determine how much if anything they...
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...Acquires business case report Executive summary In these report we will assess and evaluate the issues and causes face by acquire solutions. We will assess the company measures through treating employees equally, knowing their prospects, salary, company ownership, various individuals and cultures, cultural values, knowing the problems and providing goods and services these criteria will help us to come up with an effective decision. Then in the report the alternatives would be discussed for the issues and causes faced by the firm, as various alternatives and conduct that helps to assess the issues and causes, as comparing of these alternatives against the decision criteria would help us in undoubtedly in classifying and choosing the good and lower desirable alternatives which includes employing well diversified people, retraining of the current staff, providing bonuses, improving customer relationship and creating a plan for board of directors. In the next stage we would get the solutions to the issues and causes from the suggested alternatives with the justification for the issue and causes, which consists of:- • Retaining employees • Having employee owned private organisation Then will look at how these solutions would be implementing the organisation. The report we have assessed the causes and issues that’s affecting the firm but the limitation is that we actually don’t know when the next financial crisis are going to occur because we can really forecast sales, revenues...
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...CHAPTER 1 Understanding Consumer Behavior CHAPTER SUMMARY The goal of this chapter is to introduce students to the topic of consumer behavior. The chapter defines what consumer behavior is, what factors affect it, and why it should be studied. Consumer behavior is defined as involving (1) the set of decisions (whether, what, why, how, when, where, how much, how often, how long), (2) made about the acquisition, use, or disposition (3) of products, services, activities, ideas, people or time (4) made by one or more decision-making entities (5) over time. Consumers’ motivation, ability, and opportunity affect their decisions. These factors influence what consumers are exposed to, what they attend to and what they perceive, how they categorize or interpret information, how they form and change attitudes, and how they form and retrieve memories. Each of these aspects of the psychological core has a bearing on consumer decision making. Decision making itself is based on problem recognition and the search for information, involves some judgment and decision-making processes, and affects others’ decisions as well as one’s own post-decision satisfaction level. Furthermore, consumer decisions are affected by the consumer’s culture, defined as the myriad groups and social systems to which individuals belong, that influence the values and beliefs they hold and the symbols they use to communicate group membership. Factors associated with both the psychological core and culture can influence...
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...InterClean and EnviroTech Jessie Ladson HRM 531 October 12, 2010 Linda K. Begley InterClean and EnviroTech Job Analysis Recently, InterClean has merged with EviroTech taking on a new strategic direction. The company will be expanding its’ horizon by providing full-service cleaning solutions for organizations within the health industry. The new strategy will provide full-service cleaning solutions on top of selling cleaning products. With this approach, the mid-level manager acquires the responsibility to obtain a new sales team. The team is a combination of current employees from both companies. The objective is to create a career development plan that includes a job analysis using an appropriate method, a workforce planning system and to identify the method to select members of the new sales team. A job analysis will prepare job descriptions and job specifications to assist in the hiring of the right quality of workforce in the organization. It will demonstrate the qualities required by employees to provide optimum work performance. The job analysis of the employees accepted on the new sales team will provide in-depth understanding of competencies required. It can help the company in creating a diverse, open environment, provide a clear decpetion of roles and responsibilities and promote positive job attitudes and work commitment. The jobs analysis will also improve organizational performances and productivity, indentify factors that shape worker’s motivation and...
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...products. Studies show the more options a customer has to decide on they are less likely to choose any of the offers. It all comes back to the basics which is simplicity is key. And Trader Joe's offers that to their customers by only stocking the best products with limited options. Trader Joe's demonstrates the importance of leading by presenting a unique way of doing business compared to their competitors. They do not carry many products compared to other super markets which carry 6 times if not more products compared to them but in the end they still managed to generate more revenue. Because of this other companies are projected to follow in Trader Joe's footsteps by limiting the number of products their store carries. Because they clearly show their way of doing business works. Trader Joe's demonstrates the importance of control by keeping stores comparatively small and avoiding prime location by doing this they avoid high real estate cost. They also show that control does not apply within the company itself they do this by allowing customers feedbacks to be taken seriously which gives customers a sense of control which is very important. They also control their employees performance by giving them great benefits. Because in the end the customers will interact with their employees who represent the company and it environment. Trader Joe's demonstrates the importance of planning by deciding on where they will acquire their supplies to keep costs low. They search...
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...* Sunflower Nutraceuticals (SNC) is a privately held nutraceuticals distributor based in Miami, Florida, and founded in 2006. SNC started as an internet-based, direct-to-consumer distributor and retailer of dietary supplements, including vitamins, minerals, and herbs for women, with product offerings for all age groups. Through its website and catalog, SNC offers customers a large selection of stock keeping units (SKUs) from more than 50 third-party brands. Since its founding, the company ambitiously expanded into new retail outlets and launched several private-label brands, including a line of women's electrolyte sports drinks, metabolism-boosting powders, and a vitamin line for teenage girls. * SNC is breaking even, with relatively flat annual sales growth on total revenues of $10 million. The business is working-capital-intensive, and margins are generally thin. Several times during the past few years, the company struggled to finance the payroll, given the firm's constrained cash position, and more than once the company's line of credit was overdrawn. SNC keeps a minimum amount of cash on hand to meet operational needs and this level of required cash is $300,000. The company also accesses a line of credit, with a fairly restrictive set of governing covenants, issued by a national bank. The credit limit on the facility of $3,200,000 is priced as a spread over the 1-year LIBOR. It is currently set at a rate of 8%. SNC uses a cost of capital of 12% to evaluate investment...
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...and selling but also servicing customers and collaborating with business partners" .The e-business world (electronic business world) is about helping in the development of business operations, changing business models, and internal communication tools. Over the last few years, companies have made large steps in adopting this technology. Internet access, e-mail and mobile communications have changed the way the people lives and the way how companies sell products to customers. As a result, companies adopted electronic business to get customers satisfactions. The large movement of using electronic business has advantages and disadvantages for both companies and customers. One of the advantages of using e-business for customers is its availability. Products are for sale for 24 hours a day, seven days a week, as a result of sales for 24 hours, customers can easily access the global markets at any time. Accessing the global markets allows customers to buy different products like computers, mobile phones and clothes from any place in the world. At the moment, customers start to access the global markets and compare between different companies selling the same products. For example, if a customer want to buy a mobile phone that customer will open different pages on the internet using e-business and compare the price that each company want to sell that mobile phone. Another advantage of using e-business is that customers obtain quick delivery of...
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...world they’d been creating since its birth. Disney’s Path, Now and Future. -Disney’s magic even works in business- “We keep moving forward, opening new doors, and doing new things, because we're curious and curiosity keeps leading us down new paths.” The Largest Media Company in the World Walt Disney Company is the largest media company from many aspects such as Market Capitalization, Number of employees, customers, fans, parks & resorts, Disney stores (where they sell Disney goods), recognition, popularity, globalize, profit, sales volume and market shares. - Employees: 166,000 * Customers (per year): 27,503,000 (Tokyo Disney Land& Sea 2012 park guest) * Parks& Resorts: 11theme parks at five location world wide * Disney’s stores (outlet): 54 stores * Profit: $5.6 Billions * Assets: $80.64 Billions * Sales Revenue: $42.84 Billions * Market shares: 13% - Market Capitalization:$103.96 Billions - Employees: 166,000 * Customers (per year): 27,503,000 (Tokyo Disney Land& Sea 2012 park guest) * Parks& Resorts: 11theme parks at five location world wide * Disney’s stores (outlet): 54 stores * Profit: $5.6 Billions * Assets: $80.64 Billions * Sales Revenue: $42.84 Billions * Market shares: 13% - Market...
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...Merger, Acquisitions, and International Strategies: One of the greatest indicators of the success or failure of a corporation is their ability to acquire/merge or to be acquired/merged. Companies have been able to maximize their profits by merging or acquiring other businesses within their industry, which has many benefits that extend past dollars and cents. Corporations who are able to acquire or merge with other companies are able to expand upon their ability to forge partnerships with other corporate leaders. They are often able to expand their services internationally to gain more profits and extend their brand. Corporations, such as McDonald's Corporation, have been able to benefit from acquisitions in ways that corporations, such as Sonic Corporation, have not. Through the evaluation of the strategies that were utilized by McDonald's Corporation to acquire Boston Market, its impact on the corporation, and its international business-level and corporate-level strategies, one can better understand strategies that Sonic Corporation could develop to increase their profits through acquisitions and mergers, as well as business-level and corporate-level strategies they can develop to expand their services internationally. McDonald's Corporation has enjoyed great success as one of the largest food-service retailing chains in the world, with 30,000 restaurants that “operate in more than 100 countries on six continents (Funding Universe, 2012).” Founded in San Bernardino...
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