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Economics in Business

by Fairy Dharawat

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As global brands market their brands in new locations with customized marketing strategies in different retail formats to reiterate their strong brand equity, there is a lot of learning for the ones starting out a new business venture these brands can provide which uses economics.

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What is customer relationship marketing?

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Image: FreeDigitalPhotos.net

By Fairy Dharawat.

What is CRM?

CRM (customer relationship marketing) is a marketing model carried out based on research and findings of customer’s behaviour and buying patterns. When does the shopper shop? How often do they make trips to the store? What are the usual items that they prefer and what is their purchasing power? All this data is collected through point of sale.

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Money is a unit of exchange, not wealth

Money - Seeing the future

We tend to think money is wealth, but it’s not; it’s just a unit of exchange for exchanging wealth. The wealth is the stuff we produce; goods and services. Some things like property will appear to go up in value. The sun appears to rise in the morning, but we know that the sun doesn’t go around the earth. The earth appears flat, but we know it’s not. Money seems to keep it’s value, but it doesn’t really, it goes down in value when central banks increase the money supply. Everyone who has money then loses out and people who have wealth in oil, gold or some other commodities like property, will gain.

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Shopper Insights

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A Guest blog by Fairy Dharawat

What is a shopper insight?

“Data-driven learning that leads to an actionable understanding of shopper behaviour and purchase influences.”

Why should you know about this?

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The Female Shopper

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Image: FreeDigitalPhotos.net

By Fairy Dharawat

There are many different types of shopper, but all that comes later. Let’s try to understand the primary shoppers, who are male and female shoppers. It is tough to gauge responses from shoppers when they show confusing patterns of purchases. So as a female shopper, I thought, why not write what female shopper really wants, one female at a time. (more…)


How to get a great promotional idea

A Guest blog by Fairy Dharawat

If you have read my posts until now, you must have noticed that I insist on doing something novel and imaginative for business. It is only through new, trendy and interesting promotional activities, that we can connect to a shopper. For a shopper to really get involved, they need to be engaged and entertained. I also mentioned that the activity need not be expensive. Now could this be possible? I say, yes. (more…)


The new shopper

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Image: FreeDigitalPhotos.net

A guest blog by Fairy Dharawat

To study what influences the shopper of today is difficult. This has a lot to do  with the many different categories of shoppers. Some categories are not even identified, but they exist in our world of retail. The wanderer shopper is one who has no need to come to the store, but comes rather for the feel of a community. The impulsive shopper is one who visits and buys products on a whim. (more…)


Introduction to design thinking

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Image: FreeDigitalPhotos.net

A guest blog by Fairy Dharawat

While researching for a new topic for today’s writing, I came across the word ‘design’. The word made me curious, curious as to its meaning. Design has always being stereotyped as something beautiful and is often thought of with a limited vision of dealing with everything beautiful; say a pattern in dress, fashion designing; nice interior, interior designing; art, moveable design. But design is much more than a few vocational professions. Design is about planning and execution. (more…)


How to write fiction – life inspires art.

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Writing a work of fiction is producing a work of art and it needs inspiration. I went out taking photographs again yesterday and ended up at the lake in the picture photographing the wildlife. It hasn’t really inspired me to write but if you read any novel by a famous writer they appear to be inspired by what they see and the people they meet. If I wanted to write a story based in the English countryside, I would certainly spend some time there.  I read a novel not long ago set in a Yorkshire village and although I’ve never been to Yorkshire the description of the village was enough for me to imagine what it would be like. The image that the writer projects however is combined in my mind with everything else I know about Yorkshire villages. (more…)


Consumer behaviour decoded

A Guest blog by Fairy Dharawat

According to Wikipedia, “Understanding consumer behaviour is the study of when, why, how, and where people do or do not buy a product.”

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Why should you, a small time business owner want to know about this?

As if a regular business owner is not daunted with many responsibilities, this study seems redundant and anyway, there are many small businesses who have been there; done that. These small time businesses are still healthily surviving. (more…)


The business of branding

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A guest blog by Fairy Dharawat

Here we discuss why you should brand your product, even if you have small business.

According to Wikipedia, “A brand is a “Name, term, design, symbol, or any other feature that identifies one seller’s goods or service as distinct from those of other sellers”. The brand was derived from the Old Norse word “brandr” meaning “to burn.”

The brand is like the personality of product. Products have the brand mark on their packaging, just like an individual having a tattoo. Relating to a brand personifies the individual personality. This is very important for brands. The brand is the identity of the product. Like Marvel and DC; they are the brands of so many comic book heroes. (more…)


Boost your Small Business with Marketing Research – Superhero Style!

A guest blog by Fairy Dharawat

In today’s world of competitive market, if you are thinking of opening your very own business, you should be congratulated. Congratulations then, for finally getting up the courage to open your own venture. With today’s world of cut throat competition, even big corporate houses are feeling the heat in order to stay up to date in the market. Let me not even start with shoppers who are ‘dumped’ with so many products that they are clueless sometimes to their needs. There was a time when there was something called a ‘shopping experience’ but today it has only remains as a term due to the competition, brands are facing. So how do you hold your brand new business in a safe position? What should you do, to not fall in the category of ‘failed businesses’? What should you do to give these big businesses a run for their money? Well I present you with Market Research. (more…)


Finance | Starting a business

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I went to Matalan yesterday and they are surviving the recession well, because people can’t afford the more expensive places. If you go to their website, you’ll see a link to ‘Become an Affiliate Partner’ at the bottom of their web page. I could be a a Matalan affiliate and have a link in the side bar of my blog to their website. If someone then clicks the link and spends money, I get a commission of 5%. I do have one affiliate link in the sidebar to Zopa, but I don’t want more just yet.  There are lots of websites that want affiliates and I could also put advertising in the sidebar and at the bottom of the blog. I can also insert links into the blogs like I just did with Zopa. I can even put an advert at the end of each blog. This is one way of starting a  money making business. (more…)


How Visual Merchandising Can Boost Your Sales

A guest blog by Fairy Dharawat

So you have finally opened your dream store. Everything is in place. The finance part, the advertising part and every little minute detail you needed for incepting your store is complete. You advertised in your own way in the local newspaper and on the radio station or the old and traditionally famous word of mouth concept is working its magic. You place every item you wanted in place. Now you are waiting for customers to come in to your store. You think now all you have to hear is your cash box registering. (more…)


Finance Friday | A part time business

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Using your assets

If you own a car that’s one asset that you might be able to use to start your own business. Starting a business can be risky, but starting one part time is much less of a risk. You can always give up your day job when it becomes really successful. A business either has to provide goods or a service of some kind. The more sought after your product is, the better and higher the price can be. (more…)

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