Why Singapore Is One of the Most Successful Economies In The World

Singapore is a small country in southern part Asia. During the early stages, Singapore endured a tough time to establish herself, this was after the exit of the British who colonised them. In the early 1970s Singapore established herself and since then the economy of this country has been on a positive trajectory compared to her neighbours who are struggling.

1. Technology

In the early 1970s, Singapore set up laws that provided a conducive environment for investment. This played a key role in luring investors into this country mainly the United States and Japan. The lack of arable land has also lent to reliance on agritechnology as a means of providing for its citizens. The government has also invested heavily in the ICT department to enhance the technological advancement in the country. In recent years Singapore was ranked among the most innovative and technological nations in the world. In the 21st century, heavy investment in this field is likely to set you from your neighbours.

2. Corruption free state

A country that cannot deal with the rising cases of corruption and embezzlement of public funds is on the verge of economic depreciation.

Singapore as of now boast of a corruption-free state, a milestone that neighbouring countries and others in the world have failed to keep. The money that would have been stolen is put into required developments that build the country’s economy.

3. Setting up manufacturing Industries

Singapore is a country that is not endowed with an agricultural land. Most parts of this country are arid and cannot support agriculture. Therefore, it sorts out to establish industries in both manufacturing and processing. In this regard, it sorted to importing raw materials and natural resources, process it and export back as finished goods. This is a direct investment as finished goods are always more expensive than raw materials, the common industries in this country include electronics, chemicals among others that continue to attract many multinational states to investing in Singapore

4. The school curriculum

Another aspect that sets Singapore far above its neighbours is the flexibility of its school curriculum. The country has one of the best school programs in the world. The program equips students will tangible skills and as of 2017, the rate of unemployment in Singapore stood at as low as 1.9%. It’s a milestone, the government is really investing in this system. The fact that there is no corruption explains how rigid the system teaches that corruption must and should not be condoned. The graduates in Singapore are a reliable workforce compared to those from their neighbours and well equip to tackle the changing needs of the current economy.

5. Transport and communication sector

Today Singapore is an industrialized country and among the leading in imports and exports across the globe. This has enhanced the economy of the country as it has led to the faster delivery of goods. Singapore has the world busiest port (the port of Singapore) surpassing the famous Hong Kong port and Rotterdam port. The infrastructure in the country is also a force to reckon. It has one of the best highways in the region and also strong communication services.

Singapore ensured that it set up laws that were favourable to both the citizens and the investors, now it is reaping the fruits of a hard-fought past. Being ranked among the best in the world in almost every aspect.

Yeezy: An Unparalleled Fashion Breakthrough

Yeezy. First thing that pops into the mind of any person familiar with the brand is a series of overpriced and torn clothes, but also the much coveted adidas yeezy collaboration sneakers. But why the popularity?

Why spend hundreds of dollars on admittedly very basic articles of clothing? Why purchase a sweater that has been designed specifically to give off a homeless person vibe? First thing you notice with the Yeezy line is the price tag, followed by the very admirable attention to detail, for instance, the detailed stitching on the Adidas Yeezy Boost 350 V2, setting it apart from the fakes already flooding the market.

Underlying Idea.

Simply put, fashion is an unending cycle that tends, ever so often, to revert back to its roots, or at the very least, replicate what it once was. Taking the Yeezy clothing line for instance, it revives the dormant 80s and 90s oversized clothing craze, one that was bound to creep back into the fashion world. Similarly, before that was the Renaissance era, characterized by excessive fabric. This is the underlying idea behind Yeezy.

Yeezy however, puts a spin on this, goes a notch further so to speak, while at the same time, maintaining its key selling point. Rooted in the Yeezy line is the minimalist aesthetic idea, that is to say, basic colors, gender neutral designs and the limiting of patterns. So while the line attempts to transcend the current status of the fashion industry, it is, at the same time, taking it back to a more rudimentary era, defined by less glamour.

Why Does It Sell?

Product aside, each unveiling by Kanye is always highly anticipated, as it moves past the typical model on the runway, to more bold ideas like having the models on screen, not to mention the success that would naturally follow from having Kylie Jenner model at a Kanye West unveiling.

Despite the very basic appearance, Yeezy products are made from top of the line fabric. Take for instance a season 3 t-shirt. At first glance, it appears to be faded. However, the reason for this variations in colour, popularly termed aded’, is the high quality garment processing employed.

The main selling point of the Yeezy line, despite all others, is the controversy it creates. Yes, most millennials will purchase a hundred dollar Yeezy hoodie just for the opportunity to point out that they’re wearing Yeezy, but really the idea behind the line, blatantly sticking out, is that you have to be rich enough to afford to look poor.

Teens and early twenties are characterized by identity crises, not knowing where and whether you fit in and struggling to know who you are. Then comes Yeezy, preying on this, showing that you need not conform to the societally accepted standard, but can be different, said difference actually being celebrated by the clothes you choose to wear, boldly stating you stance.

Why The Success?

Few people realize this, but Kanye, prior to the very successful collaboration with Adidas, had previously done the same with other formidable names in the industry. This gave the line a unique advantage in that he had some, though not limited, experience pre Adidas.

The Yeezy line is arguably the amily line’ of the Kardashian family, and as with any other successful product, get a celebrity to be seen using it or in it, as is the case with Yeezy, and have it flying off the shelves in record time.

The line has the privilege of being owned by Kanye, who doesn’t shy off from promoting it in his music, which alone hits record sales. Meaning, provided you’re into music or fashion, you’ll come across Yeezy.

Every unveiling of Yeezy has a series of A list faces on the front row, from Jaden Smith to Lewis Hamilton, they alone, reeling in a storm of publicity and that, coupled by the actual unveiling, transforming the event into a paparazzi hub.

The line, as with any other success story, hasn’t escaped harsh critique. Key among them, being that it glorifies the struggle experienced by the average and struggling homeless individual. This notwithstanding, it is a success story nonetheless, illustrated by the product’s selling out in preorders, even before hitting the shelves. Many might not understand it, but those who do are clearly sufficient to warrant the record sales and the success story that is Kanye West’s Yeezy line.

The Pros and Cons of Custom Wedding Dresses and Off the Rack

A wedding is the most important event in most people’s lives. It symbolizes change from a single person to a married one. That being the case, everything needs to be perfect including the bride’s dress. It’s easy to overlook the importance of this cloth and put on whatever is available.

The problem with this is, a large number of brides end up being the center of attraction negatively because their dress looks ridiculous on them. Should you as a bride buy a dress off the rack or have it custom made for you? Here are some pluses and minuses for each case to help you decide:

Custom-made Wedding Bridal Dresses

Pros:

1. It fits

This is the top perk. Since it’s designed for you alone, a custom-made dress allows you to show off your curves without trying. It’s also a perfect instrument that you can use to emphasize your beauty. It’ll leave you feeling comfortable in your skin.

2. Zero pressure

There’s so much to worry about when it comes to making a wedding fantastic. When you choose a custom-made dress, you save yourself the agony of shopping for a dress that you think is right since it suits you perfectly.

Cons: 1. You have to pay upfront

Before your dress is made, you’ll have to part with some cash. This sucks because you don’t know how it’ll turn out to be. The designer may not follow your instructions to the letter.

2. It takes forever to make

If you’re a last-minute kind of person, this will put you off. Custom-made dresses take a while before they’re done. This means that if you choose to order one a week before your big day, you’ll have to inconvenience the guests by rescheduling the wedding date.

Off the rack dress

Pros

1. Priorities don’t matter

Whether you choose to buy the dress first or focus on getting the shoes to go with it, an off the rack dress makes it possible for you to plan at your own pace with the same great end result.

2. You get to save big on money

Though the dress may not be totally new, the good news is you have a couple of extra dollars to spend elsewhere if you choose to go off the rack. Plus, you don’t have to take so much time finding one that tickles your fancy.

3. Options are limitless

There’s no shortage of ideas when it comes to what to do with your dress when compared to a custom wedding dress. You may sell it after your wedding if you wish or pay for the number of hours you’ll spend in it only. At the end of the day, it depends on your preference as a bride-to-be.

Cons:

1. Your dress may be damaged

If your dress was worn before, you’ll need to have it repaired before putting it on. This means that repair costs will be a part of your budget. It gets worse if many other brides used it.

2. Maintenance is key

If you want to make an impression on your wedding day, you’ll have to spend plenty of time and money on the dress. It may have with it some gross sweat markings or make up stains from previous brides. Since you’re the next user, it’s your responsibility to make sure that it’s perfect.

10 Factors that Influence Customer Buying Behaviour Online

10 Factors that Influence Customer Buying Behaviour Online We are now in an era where customers take the center stage, influencing business strategies across industries. No business can afford to overlook factors that could either break the customer experience or even pose a risk of any disruptions. This becomes a vital fact influencing your eCommerce business too.

In fact, for an eCommerce business leader like you, enhancing the customer experience becomes the top priority, especially, when you look around and find your competitors strategizing towards their growth at an equally fast pace. Within that, your first step towards delivering a compelling customer experience is understanding the customer’s buying behaviour.

To make it easier for you, we have identified the top 10 factors that potentially influence your online shoppers’ buying decisions:

Quality of Product Description

Your Customers are highly informed. They are accustomed to going deep into your product details once they like it. Here, your responsibility is to answer every question that comes the buyer’s mind immediately. For instance, the information about the product’s dimensions, weight, material and quality, etc should be readily available.

Shipping Costs

It may often turn out that a customer would decide not to buy your product after seeing the final payable amount. Remember, the customer has nothing to do with the shipping that you bear with. So, its better they see the minimum shipping costs or rather a free shipping.

Return Policy

Easy returns make the backbone of an online shopping business. In fact, a number of customers prefer buying stuff online considering the easy returns. Amazon, for instance, has managed to size up its sales by running a fantastic return policy. It asks the customers no questions, allows 30 good days to decide about returns.

Convenience in Searching Products

Your app’s user interface plays a crucial role in influencing the buying prospects of your customers. A customer will likely leave your page or app if he is unable to find the relevant product within two search attempts. Ease of Navigation via Categories Again, this is about a good user interface. The more convenience a customer finds in your page or app, the better are his chances of converting or buying your product. A good navigation helps him know where he currently is and what is the direction to move.

Complexity Levels in Checkout Process

If your checkout process is too cumbersome asking for too many efforts and involving several page redirections, your customer is likely to abandon you. Customers are accustomed to faster services.

Relevance of Product Recommendations

Product recommendation is a crucial strategy in eCommerce and it can lead to impulse buying too. However, too many irrelevant recommendations can divert the attention of your customers and even sometimes put them off.

Categorization of New Products

Even though you change the content on the home page everyday, customers will still get bored of seeing it regularly and end up overlooking the newer stocks. But, if they see a special icon for new products, they are much likely to land there straight and purchase.

Inclusion of Special Product Category

This works quite similar to the above. You must always have this category of special products where you place your most sought-after products and grab the attention of your customers quickly.

Customer Reviews

This is a really important factor affecting your customers’ buying decisions. Given the fact that customer reviews are genuine, your new customers are much likely to consider this peer to peer feedback. Make sure you earn maximum good reviews amid a few poor ones.

Now that you know a lot about what matters to the customers while making a purchase, its time you look back at your processes and interface and maximize your sales.

Impact of Bitcoins to online shopping & other Industries

Bitcoins rose to limelight in 2017 due to its skyrocketing price value. In 2017, the price ran up to more than ten thousands in US dollars.

Bitcoins are Crytocurrency, Digital Currency. It was originated in 2009 and were used back then. In 2010, a developer bought 2 pizzas with 10, 000 bitcoins. Today, you can buy more than $10 million worth stuff with the same amount of bitcoins. How has shopping changed with the rise of bitcoins?

People are now moving on to trade with Bitcoins. OverStock.com were the first retailers to introduce their customers to pay with Bitcoins. Next came, Expedia to book hotels online, to eGifter. It is now believed that Amazon is set to announce their introduction of Bitcoin payment soon.

Why Bitcoins specifically? Bitcoins make online shopping or other eCommerce activities easy. Both to Consumer and the Merchant.

Consumer’s benefits with Bitcoins

1. Basically, the money transfers will be quick, safe and what’s more, cheap! There is no third party interference( no banks/financial institutions), hence no taxes.

2. Bitcoins do not charge any foreign exchange fees. So there is no any additional charges when trading with different currencies.
3. Bitcoin wallets can be backed up as they are digital.

And the Merchants……

1. Avoids Charge-backs – Bitcoin transactions can never be reversed.

2. Merchants can avoid the credit card processing fees (which is usually 2-3% from their side)

BitCoin & Online shopping – The process

1. purchase bitcoins from online exchanges or brokerages by transferring money from a regular bank account or through credit card transfers.

2. Assign the bought coins in the bitcoin wallet app like BitPay Wallet, Copay

3. At checkout, choose pay with Bitcoin option. The order with its bitcoin price and a QR code will be displayed. This code must be scanned through your wallet app.

The transactions are confirmed within an hour. People do not need to wait days and weeks to confirm their transactions which is a great relief!

Bitcoins are a method of Peer to Peer(P2P) Money transfer networks. P2P networks offer wide transparency. Currency rates are published for everyone to see and the rates are determined only through supply and demand. A real-time ledger that is publicly shown reduces the risk of theft to zero.

Another factor people love Bitcoin during online shopping is that they remain anonymous. the transactions are done using Bitcoin addresses which can be seen by everyone but it is not shown whose address it is.

Bitcoins are not going to be limited for online shopping. It has now expanded to other industries like,

1. Education Industry – Some colleges have now started to accept course payments in the form of bitcoins

2. Charitable Organisations – With Human Rights Organisation, the American Red Cross, Electronic Frontier Organisation and the united way accepting bitcoins, they were able to conduct more humanitarian work in countries whose currency value is worthless.

3. Music Industry – Ujo Music and Stem companies now allow fans of artists to pay via bitcoins directly.

4. Online Gambling Industry – Predicted to be the field that will have Bitcoins’ effect mostly.

BitCoins are game changers, within the upcoming years, they might have a great impact in almost all industries. But Bitcoins do have cons, specially it’s excessive volatility. Bitcoins will change the industries but it can be towards a brighter future or can be to a risky future.

Are There Benefits to Paying to Speak at Business Seminars/Summits Related to your Business?

Speaking can be a very effective form of human communication. Basically, it’s human nature and when we talk, we like to voice out our concerns and opinions rather than listening to others. One of the reasons we communicate is so we can impart our knowledge on others with a view to building a rapport with them for personal, social or business gains.

In a society that we are living in today, it is quite rare to find a small business owner or a business tycoon that will deliberately offer their precious time for just a few words of wisdom to a handful of audiences that are willing to lend an ear. But needless to mention, there is need to listen to their struggles, fear and how they succeeded on their crafts while jumping a few obstacles along their path to achieve their goals.

If you are a knowledgeable business person and would wish to share with those who are not yet familiar by means of low-cost or free seminars, then you might consider public speaking. It includes networking events and a variety of referral groups. It is not always about giving speeches for a hefty sum of cash. It’s about awareness.

Here are some of the Advantages:

· Making new acquaintances and building a new network

Speaking at business seminars offers a good time to make a good impression on yourself and your business in particular, by making sure that your audience will remember you after your great speech. Present yourself at these events in an impressionable manner by how you treat your customers. Get to know most of the audience; not just the prominent people but also those who have blue collar jobs. Introduce yourself as the host and take initiative on how people react and be appreciative all the time.

· Communicating to the masses

When you speak, it is directed towards your main target or to a diverse set of audience. Some common channels used are television, radio and social media. Reaching the masses may not necessarily translate to raising awareness to your brand but it certainly is a way to keep in touch with the community.

· Saves time

When you desire an immediate result, the best way to do it is to communicate your message by means of talking. This will greatly ease your workload in that the time you would have dedicated in structured discussions is easily saved when you speak to a larger audience in seminars.

· Immediate feedback

When you speak in seminars and happen to leave a good or bad impression, you will notice the audience will have an immediate feedback about your speech and it will help you change the way you deliver your speeches. The feedback is often raw and sincere so you can trust it to be credible and harness it positively.

· Promoting your Business Easily

You can talk about the advantages of your business to your audience without worrying about negative influences. You are the host and a resource for them. Offer them great advices but not overdo it. Teach them new things and make sure to bring your products with you for free handouts.

Disadvantages

· Inaccurate Details

The inaccuracy of the speaker’s communication style will leave the audience asking many questions pertaining to the topic, not because they want to know more about the business but it’s because they are confused.

· Highly Expensive

Not all seminars are created equal, some of them include fees in order for the audience to participate.

· Irrelevance

Sometimes, the speaker may share a topic with the audience that may not be relevant to some of the audience’s line of work or present realities.

Overall, there are great perks when you pay to speak at business seminars. As long as you can brainstorm your audience and know what they would be interested to know, you can tweak the message to capture their expectations while the same time using the platform to advance your brand interests.

The Best Business Thought Leaders to Uplift Your Business

Business leaders are undisputed and renowned experts who have demonstrated distinguished success in certain fields for which they are highly recognized. They are known for their outstanding skills, experience and expertise which inspire others in their specific disciplines, including their competitors.

In the area of business, the role of business thought leaders is more than paramount because they provide amazing ideas which when put into practice, leads to rapid growth of your business. Most of the best thought leaders in business are great speakers, authors, consultants and coaches whose information is resourceful in uplifting your business in within a short period of time, regardless of its initial background. Here are some of the best identified business thought leaders who will give your business a complete transformation and contribute to its quick success.

Pat Lencioni

Pat Lencioni is a founder The Table Group. He is currently a distinguished author, consultant, speaker and a man recognized for his actionable principles which have a great impact in enabling business owners to come up with solutions to common challenges facing their business. Having written 11 books with helpful business insights, Lencioni has offered great inspiration in regard to leadership and organizational health.

Tom Peters

Tom Peters is one of the most significant business thought leaders, having caused tremendous transformation in the lives of many, both through his best book: In Search of Excellence and other achievements he has made in business. He is a founder of the Tom Peters Company and Skunkworks, both of which have had a great impact in the lives of many.

Brene Brown

As far as business success is concerned, Brene Brown is the source of both insight and inspiration through her research findings as a research professor at the University of Houston, majorly based on leading with authenticity, working, living, shame, worthiness and vulnerability, which she has studied for more than a decade. Besides being the CEO and founder of The Daring Way and Courage Works, she has written highly motivating books which are off course, bestsellers.

Tasha Eurich

Tasha is an organizational psychologist with a thorough understanding of human behavior which she analyzes from a scientific point of view. By serving as the Principal of Eurich group and speaking at several leadership summits, Tasha has offered a number of pragmatic solutions to common leadership challenges. Follow her and listen to her down-to-earth communication and conversational tone as she inspires you to embrace challenges in order to succeed in whichever form of business you have chosen.

Elise Mitchell

Elise is a renowned experienced lady with extraordinary abilities that saw her come up with her PR company which has turned to become her industry. As a result of her love for motorcycle riding, Elise looks at life in a rather unique way. Just as she rides motorcycle with a journey mindset and seeks to become a destination leader, so does she view life. In her book Leading Through the Turn, she shares an interesting story that will ultimately transform your life with her leadership ideas and mindset principles. Currently, she is a CEO of Mitchell Communications and Dentsu Aegis PR Network.

The above discussed are just some of the best thought leaders in the world who can help your business rise within no time. There are more others like Jim Kouzes and Barry Posner, each with varied principles offering distinct business insights, ideas and inspirations that can enhance your growth as an entrepreneur as well as your business growth. Listen to them, read their books, watch them and explore all avenues available to change your business situation and you will surely stand out successfully in whichever type of business you are running.

3 Marketing Tips You Should Avoid At All Costs

For any business to prosper, smart marketing strategies should be devised and applied in the most appropriate way possible. However, some business owners and managers only focus on popularizing their business’ brands and fail to approach the market in their potential clients’ perspective. Just like other business operations, marketing implementation requires due diligence to achieve its main objective which is to widen the customer base and increase the sales and profitability. Below are three marketing tips that you should avoid at all costs if the core objective is to be achieved.

Focusing on Sales and Popularization the Brand Alone

Well, increasing your sales and popularizing the goods or services is any business’ main goal but should not be the primary focus when carrying out the marketing activities. Focusing too much on the product’s name, features or prices will show the target audience that you are only after selling and making money. Interestingly, most marketing experts and successful businesses focus on the general benefits of using their products or services. You should offer your audience the abilities that your products or services provide in solving their problems as well.

These approaches apply everywhere whether you are marketing via the website or social media platform or by meeting the potential clients on the ground or through other ways such as TV or Radio. In some instances, there are even marketers who provide put forth the shortcomings of using their services or products because let us face it, nothing is perfect. Honesty is paramount while convincing people to buy from your business and you will be shocked by the massive clients you will attract.

Ignoring the Internet

This is one of the biggest mistakes that a business owner can make in this day and era. If you wish to spread your business brand much faster and in a cost-effective manner, online marketing is an ideal approach. No business should lack a website where any person wishing to find out about your business can easily get information. You should also open accounts on popular social media platforms such as Facebook, Twitter, Instagram, Pinterest or any other account where you find your target audience. In Facebook alone, there are over one billion users worldwide in which most of them are active.

These efforts should also be accompanied with constant updates and follow up such as engaging your audience on a regular basis. You should create forums and groups as well as update the content on your website on regular occasions. If possible, you can also create videos that you can share online through such platform like YouTube or share on your social media accounts. Where you are too busy to concentrate on online marketing, it is advisable to hire an expert or agency to keep your online presence more active.

Failing to Evaluate or Measure

The only way you can know whether your marketing efforts are working is by evaluating and measuring their performances. You can do this after a certain period such as after a week, fortnight, monthly or quarterly. With online marketing, it is easy to know how many people you have converted by following up through the activities. The performance of other marketing methods can also be measured by use of different metrics based on how many customers they have converted as well.

Evaluating your marketing efforts will enable you to determine whether they are working or need improvement or even change. Marketing is an investment and failing to determine its ROI (Return on Investment) can reflect on the overall profitability or growth of your business.

The above three marketing mistakes will have a great impact on your business growth and profitability objectives irrespective of the stage of your business and should be avoided at all cost.

The Pros and cons of Unions Vs Non Unions and Minimum Wage Vs Non Minimum Wage

It is voluntary for a worker to join union or not but what it brings to the table is the right to bargain or negotiate collectively. It ensures that you are not victimized in your organization, as you are not the sole individual, who is fighting for his/her right. Sometimes you might have no preference in this regard.

Definition of Unions

Labor unions or trade unions are specific type of recognized organization in an industry with common interests, which collectively puts effort for pay parity, working environment, hours of work and other benefits. Unions act as the medium between the worker and management, thereby settling the grievances of the workers.

It was way back in 18th century, when the need for trade unions was first felt in Britain following rapid expansion of industrialization. In 1799, Combination Act was enacted and passed to nullify the collective bargaining by the British workers. Around 1810, the first labor organization was formed together to bring the workforce of varied occupation under one umbrella.

Benefits of Unions over Non Unions

Job Security

Everyone wishes for a job, where he is ensured that he will not be asked to leave for illogical reasons. Non-union workers are hired at will and can be fired at will. A worker can be easily discriminated on the basis of region, religion or caste. You can’t raise your voice against any such discrimination, as you will be asked to leave without any explanation.

Better career

The settlement between a union and the management fixes the career growth of workers in an organization, i.e. certain promotions after achieving fixed years of experience and attaining certain qualification. For non-union workers promotion changes are only at the mercy of their seniors or management.

Better Wages

Owing to better negotiations backed by support of its members, unions discuss each point of wage settlement with great fervour and tend to approve good wages for its members. According to U.S. Bureau of Labour Statistics, the average income of union worker was $ 917 against wages of non-union workers at $717.

Better access to benefits

According to a survey conducted by U.S Bureau of Labour Statistics involving 101 million private industry workers and 19 million government employees 93% of unionized workforce were entitled to complete medical benefits against 69% for non-union workers, that too only for restricted medical benefits.

Shield against recession layoffs

In event of layoffs owing to recession, non-unionized workers can easily be fired without any explanation but for a unionized worker; the management will have to give an explanation for the same.

Demerits of Union over Non Unions

Fixed Wages

For some workers fixed wage can be a boon but for aspiring workers, who work with more dedication and passion, it can lead to demotivation and overall loss.

Hostile attitude

With their stubbornness towards improved methods of production, they have retarded the nation’s progress and reduced its income.

Personal Benefits of Union Leaders

It is often seen that, the union leader call for strikes on flimsy issues for personal benefits leaving all the workers and organization in jeopardy.

Minimum wage vs non minimum wage

1. Minimum Wage may be defined as the lowest wage necessary to fulfill a worker’s basic necessities to maintain minimum level of subsistence for his family, which includes food, clothing and shelter.Under non minimum wage system, a worker works under the discretion of its employer.

2. Minimum wage agreement shields immoral employers from exploiting unaware persons, who possess very little negotiating traits.

3. Such kind of agreement tends to diminish chances of discrimination in wages because of favouritism.

4. Non minimum wage stimulates the workers, as minimum wage tends to encourage workers unwilling to work sitting idle and killing working hours.

5. Employers with high values are protected against understating done by competitors with low standards.

Marketing Strategies and How to Succeed

When the popularity of television, newspapers and radios are going downhill while social media rises, it should come as no shock that the world of marketing strategy is changing. And it’s doing so fast.

The old ways of getting awareness from your target audience are lessening in effectiveness and new methods will have to do as many people already have adapted to a new format for information; the internet, where anyone can share all kinds of information and media.

The internet, imitating a false utopia for the marketer, gives everyone the opportunity to share their products and services to the whole world, but in the end the illusion shatters in a downpour of endless content where only the either big or smart will stand out.

So how do you reach out to your target market?

First of all you will have to know who you will be selling your product or service to and where they will be able to hear you. What’s the average age? Is it for professionals, hobbyists or amateurs? Are they part of a subculture? Where are they located? Do they use the modern source of information or the old fashioned one?

Once you know who you are targeting, you will have to figure out how they can be convinced to choose your product/service and how to reach out to them? You have to start developing and implementing tactics so you can finally drive traffic to your business.

Identifying your actions and tactics will turn your planned strategy in to real life. You just have to know the 4Ps of marketing: Product, Price, Place, and Promotion and you’re good to go.

· Product – if you know your product well enough, then finding a way to market it won’t be a problem. You have to find the strength of your product and which parts of it make you stand out. From then, you’ll be able to move forward.

· Price – are your prices worth the quality of your product? If so, start off with a promo where people can experience a bit of your product just to cause an awareness of how the value of products can be worth their price. If your company offer services to young adults, go for something that can be of their budget where it’s a little tight as some are still studying while others are struggling in finding a job. It may be a critical part, but choosing the right prices for your products can definitely garner more people to your business both in profit and good customer relationship. Another way you can promote a product is by giving away corporate promotional items to associates, colleagues, clients, and friends in order to get your product out there and have more people notice it.

· Place – whether you have an actual store or an online shop, go for an area where you can access your target market easily. Like if you sell clothes to youth, go for the mall or create an online shop. It’s where most of them spend their time and it’s best to adjust with it as well. If you find the perfect spot, you’ll just eventually make a name out of it.

· Promotion – It’s all about getting people’s attention. Without promotions, people wouldn’t know you exist. Without the people, it’s a big loss for you. Whether it’s a discount in a restaurant, a 50% off sale on clothes, a speed dating event, there are a lot of different ways to promote it. You can go for radio, television, newspaper, magazine, or the cheapest one, social media. Once you’ve caught a couple of people’s attention, the word of the mouth will do the marketing for you.

It is essential for your marketing strategy’s success that there’s good market research, as well as good understanding of your own company. Without marketing your business will fail.

Creating a marketing strategy may seem easy to some, but it is in fact very critical. You will have to dig deep in to it for you to reach your objectives.