Internet Marketing Vs Traditional Marketing – Can I Abandon Traditional Marketing?

This is a common question raised by novices in Internet marketing. Actually, it reflects a misunderstanding of the whole concept of Internet marketing. Because of its reliably novel stage, there is a mystique attached to the concept by newcomers and so the question: If I go for Internet marketing, should I abandon traditional marketing (as if one should now exclude the other)?

My simple answer is – why would you? Internet marketing and traditional marketing should complement each other. The Internet simply allows you to extend your reach beyond the current confines of your traditional marketing system such that areas in the world that were previously beyond your reach can now be accessed through the Internet.

To better appreciate that, it would be helpful to know what Internet marketing actually is. In a nutshell, it means putting up a website where you can display the product or service you are selling, and then encouraging people to drop by your site so that you can have buyers or customers. Everything else you will encounter in Internet marketing, including what may initially appear to you as highfalutin terms – like search engine optimization, search engine submission, reciprocal linking, keyword research – are nothing more than part of Internet marketing strategies to bring people to your website so that you will have the chance of making a sale. Without people finding out your website, you will never succeed in Internet marketing.

To better visualize this, consider the example of putting up a store in the physical world. Your store is located in a vast empty prairie. How are you ever make any sale if there are no people around? No matter how good your products or services are, if you have no passers by, if people can not locate you, you're finished. You have a choice of absolutely shutting down the store – or start an aggressive marketing campaign so that people will get to know about the existence of your store. And if you are successful in enticing them, people may start flocking to you to patronize your merchandise. Your strategies may occasionally include distributing leaflets announcing your store, putting up giant air balloons where from a distance, people will spot you, advertising on mass media, an so on.

The same thing happens to a business website – your virtual store in the Internet. Much like that solitary store in the prairie, all business websites initially exist in a much much vaster cyberspace prairie where no one will find you unless you now adopt and implement the well known Internet marketing strategies. But here's the exciting part – the analogy between the physical store and the business website (your Internet store) ends when it comes to their probable reach for potential customers. In that example of a physical store, how far can you reach out physically to attract customers? Realistically, even with a massive advertising campaign, you will most likely attract only people who are living within your immediate locality. Maybe a radius of fifty kilometers is good enough. Beyond that distance, people will find it impractical to still go to your store to buy anything. But not so in the Internet marketing model. You can be in the middle of the Sahara but your website can be found and access by anyone all over the world where you have Internet connection and where people will need your product or service! That's how massive you can get in Internet marketing!

Now, going back to the question – should you then abandon traditional marketing? That question sounds to me like coming from someone who's using a cellphone for the first time and who, in excitement about the power of the new gadget requests – will I now abandon face to face encounters and just talk with everyone through my cellphone? Of course not! Use your cellphone to get in touch with people who are not physically in your vicinity. But for people who are around you, there is nothing wrong with talking with them directly in person. In fact, that might even be preferred.

Instead of abandoning one system in favor of another, I suggest you combine Internet marketing with your traditional marketing skills. You could build an awesome marketing network that way!

7 Ways to Experience Warmth This Holiday Sales Season

Feeling a little glum this holiday season? Many people do. Psychologists tell us that their client business really picks up around this time of year. Why is that? Are not the holidays designed to bring out the best in people? Do they really? Many people are lonely, even in a crowd, feeling isolated and apart from caring family and friends. Quite possibly, they feel that no one really cares or even cares enough to listen.

While these issues may vary as far and wide as the individuals in question, there is a common thread among all of us. That thread is purpose . In his huge best-seller, A Purpose Driven Life , Rick Warren outlines the case for purpose and answers the question "What on Earth am I here for?" Purpose make all of the difference and can supersede any circumstances as long as we do not allow ourselves to wallow in self-pity or selfishness.

Many salespeople experience a flood of negative emotions during the holidays. retailers notice both an increase in hostility and a decrease in patience and manners among customers. Field salespeople, often already excluded from their co-workers, often experience a discouraging slowdown in business and the customer's desire to put off purchasing decisions until after the first of the new year. Furthermore, these salespeople often are on the front lines of poor human behavior, sometimes falling victim to the wrath of an angry customer.

I submit to you that this Christmas season can be different and wonderful for you. You can make a real difference in your own life and affect countless others in the process. How? Simply do something positive for another human being without any expectation of payback or benefit to yourself. Start with the following:

1. Give of yourself.

2. Be a friend.

3. Lend an ear.

4. Provide a shoulder.

5. Pick someone else up.

6. Offer encouragement.

7. Smile

Did you note that none of these were financial or involved material things in any way? The truly important things in life seldom are. Remember, what comes around, goes around. We do reap what we sow.

So today, help out at your local soup kitchen, Salvation Army or faith-based facility. Invite a college student or military person with now to go over to your home for Christmas dinner. Look for opportunities to provide little services for others, often going unnoticed. In so doing, you will warm up and discover joy and purpose, leading to fulfillment and happiness this Holiday Season.

Try these seven activities and see for yourself. When January, 2008 arrives, you will be more than ready, emotionally charged, changed and expectant of a banner year.

Using Weight Loss Food Programs to Stay Healthy While You Drop the Pounds

No one likes to admit that they need to shed pounds. But when you are ready to admit it to yourself, you need to look at what the various weight loss food programs have to offer you. They are not all the same and you want to choose a plan to drop the weight that will be safe and successful.

The weight loss food program you pick needs to be customized to help you not just drop weight, but also allow you to maintain the loss afterwards. To do that, you need to concentrate on developing healthy habits that you can incorporated into your lifestyle. Most weight loss food programs claim to be effective in helping you to shed pounds but not all of them live up to their claims. You need to know what to look for in a plan that will succeed in what you want to accomplish for your body and your life.

A plan that is healthy, effective, and safe must include numerous elements that make it so. The diet that you describe to must be healthy and must ensure that you get a sufficient amount of vitamins, minerals, antioxidants, and nutrients. The diet plan must also focus on a healthy body and at the same time, reduce the number of calories that you take in.

Eating foods from all the essential food groups is important for your continued good health. Cutting out foods from any of the food groups is not recommended as it can lead you to become deficient in nutritional content. Your body needs variety in the foods you eat to keep you energetic and feeling well. Good weight loss food programs are not designed to deprive you, but are designed to help you to slim down.

The culture you live in affects your ability to lose weight. When looking at your options in weight loss food programs, bear your cultural considerations in mind. It will be easier to make the necessary changes in your life if you do not forget that your culture has an impact on your life. Healthy weight loss does not happen overnight. It is a gradual process that you work at day by day. If you try to push your body to shed pounds too quickly, you can harm your health. A goal of losing one to two pounds per week is a healthy one to aim for.

No matter what plan you decide to follow to shed pounds, you still need to be physically active. Exercise must be an important aspect of every program that is geared to watching the pounds melt away. You do not have to push yourself beyond your limits though. Exercising at least 30 to 40 minutes at a time, three to five times per week will help to keep you limber and will support your weight maintenance.

Entrepreneurship: What does it REALLY mean?

Introduction:

In a world where ideas drive economies, it is no wonder that innovation and entrepreneurship are often seen as inseparable bedfellows. The governments around the world are starting to realize that in order to sustain progress and improve a country’s economy, the people have to be encouraged and trained to think out-of-the-box and be constantly developing innovative products and services. The once feasible ways of doing business are no longer guarantees for future economic success!

In response to this inevitable change, some governments are rethinking the way the young are educated by infusing creative thinking and innovation in their nation’s educational curriculum. In the same vein, they are putting much emphasis on the need to train future entrepreneurs through infusing entrepreneurship components within the educational system, especially at the tertiary level.

Some countries have taken this initiative to a higher level by introducing entrepreneurship education at elementary schools and encouraging them to be future entrepreneurs when they are of age. In a series of survey funded by Kauffman Center for Entrepreneurial Leadership, it was found that nearly seven out of 10 youths (aged 14-19) were interested in becoming entrepreneurs.

Being an entrepreneur is now the choice of the new generation as compared to the preferred career choices of yesteryears such as being a doctor, lawyer or a fighter pilot. In a recent visit to the bustling city of Shanghai in China, an informal survey was carried out among Chinese youths by the author. The results of the survey showed that being an entrepreneur, especially in the field of computer and e-commerce, is perceived as a ‘cool’ career and is an aspiration for many Chinese youths Prior to the ‘opening up’ of modern China, being an entrepreneur was perceived as the outcome of one’s inability to hold a good government job and those who dared to venture, were often scorned at by their peers. Times have indeed changed.

With this change in mindset and the relative knowledge that entrepreneurs bring forth increased job creations, the awareness and academic studies of entrepreneurship have also heightened. In many tertiary institutes, many courses of entrepreneurship and innovation are being developed and offered to cater to the increasing demand. The term “entrepreneurship” has also evolved with numerous variations. The proliferation of jargons such as netpreneur, biotechpreneur, technopreneur and multipreneur are coined to keep up with the ever-changing times and business conditions that surround us.

In view of these changes, it is important that the definition of entrepreneurship be refined or redefined to enable its application in this 21st century. To put it succinctly, “Good science has to begin with good definitions (Bygrave & Hofer, 1991, p13).” Without the proper definition, it will be laborious for policymakers to develop successful programs to inculcate entrepreneurial qualities in their people and organizations within their country.

The paper will provide a summary of the definitions of entrepreneurship provided by scholars in this subject area. The author will also expand on one of the definitions by Joseph Schumpeter to create a better understanding of the definition of the term “entrepreneurship” as applied in today’s business world.

Entrepreneurship through the Years:

It was discovered that the term ‘entrepreneurship’ could be found from the French verb ‘entreprende’ in the twelfth century though the meaning may not be that applicable today. This meaning of the word then was to do something without any link to economic profits, which is the antithesis of what entrepreneurship is all about today. It was only in the early 1700′s, when French economist, Richard Cantillon, described an entrepreneur as one who bears risks by buying at certain prices and selling at uncertain prices (Barreto, 1989, Casson 1982) which is probably closer to the term as applied today.

In the 1776 thought-provoking book ‘The Wealth of Nations’, Adam Smith explained clearly that it was not the benevolence of the baker but self-interest that motivated him to provide bread. From Smith’s standpoint, entrepreneurs were the economic agents who transformed demand into supply for profits.

In 1848, the famous economist John Stuart Mill described entrepreneurship as the founding of a private enterprise. This encompassed the risk takers, the decision makers, and the individuals who desire wealth by managing limited resources to create new business ventures.

One of the definitions that the author feels best exemplifies entrepreneurship was coined by Joseph Schumpeter (1934). He stated that the entrepreneur is one who applies “innovation” within the context of the business to satisfy unfulfilled market demand (Liebenstein, 1995). In elaboration, he saw an entrepreneur as an innovator who implements change within markets through the carrying out of new combinations. The carrying out of new combinations can take several forms:

The introduction of a new good or standard of quality;

  • The introduction of a novel method of production;
  • The opening of a new market;
  • The acquisition of a new source of new materials supply; and
  • The carrying out of the new organization in any industry.

Though the term ‘innovation’ has different meanings to different people, several writers tended to see “innovation” in the form of entrepreneurship as one not of incremental change but quantum change in the new business start-ups and the goods/services that they provide (egs, Bygrave, 1995; Bygrave & Hofer, 1991).

In the view of Drucker (1985), he perceived entrepreneurship as the creation of a new organization, regardless of its ability to sustain itself, let alone make a profit. The notion of an individual who starts a new business venture would be sufficient for him/her to be labeled as an entrepreneur. It is this characteristic that distinguishes entrepreneurship from the routine management tasks of allocating resources in an already established business organization. Though the definition tends to be somewhat simplistic in nature, it firmly attaches the nature of entrepreneurial action with risk-taking and the bearing of uncertainty by the individual (Swoboda, 1983)

In a Delphi study, Gartner (1990) found eight themes expressed by the participants that constitute the nature of entrepreneurship. They were the entrepreneur, innovation, organization creation, creating value, profit or non-profit, growth, uniqueness, and the owner-manager. The themes could be seen as a derivative and expansion of Schumpter’s earlier concept.

Expanding on Schumpeter’s Definition:

After digesting the numerous definitions of entrepreneurship, one would tend to see a strong link between these two terms: entrepreneurship and innovation. In retrospect, most of the definitions tended to be, to some extent, a re-work and expansion of Schumpeter’s definition of entrepreneurship (which is that of innovation being applied in a business context).

As defining the term of ‘innovation’ is highly debatable and would merit a paper on its own, the author has thus, for convenience, summarised the definition of innovation. Innovation can be perceived simply as the transformation of creative ideas into useful applications by combining resources in new or unusual ways to provide value to society for or improved products, technology, or services.

In the author’s opinion, the difficulties of defining “innovation” could be the reason for the quandary one finds in attempting to arrive at a clear-cut definition of the term ” Entrepreneurship”.

Take for example, if someone starts another run-of-the-mill hot dog stand in the streets of New York, will he termed as an entrepreneur? According to Drucker’s definition, he will be seen as one. However, if the above definition by Schumpeter was used as a guideline, the answer is probably ‘NO’.

Why? The core of the matter lies in what is so innovative about setting up another hot-dog stand which are in abundance in New York. On the contrary, if he is the first one to start a stand selling hot-dogs with Oriental Sweet and Sour sauce topping; he could be termed as an entrepreneur (even based on Schumpeter’s requirement) as he has done what others have not done before. In the context of entrepreneurship, creativity and innovation are key points in the whole scheme of things.

In this manner, by adding “innovative” features to a product or services and setting up a business based on these additional features to compete in the existing market, new entrants may be able to gain this competitive advantage over existing market players.

In the case of the hot-dog seller, it may be argued that his addition of Oriental Sweet and Sour sauce toppings may be seen as nondescript. This runs in contrary to some scholars’ definition of entrepreneurship as requiring quantum changes in the products/ services to be justified as being entrepreneurial (Bygrave, 1985; Bygrave & Hofer, 1991).

Consistent with creating new products for sale, someone who starts a business by providing a totally new way of serving his customers/ clients is considered to be entrepreneurial too. Though, it is often argued that there are no real new products or services in a case where one does not look to the past products and services for ideas for improvements. Thus, the notion of incremental improvements should be accepted as being innovative too.

Innovation in the business sense may not necessarily involve, in the physical sense, the introduction of a new product or service. It can be in the form of what is commonly known as creative imitations. For example, if an individual starts selling a product that is already common in his area or country, he will not be seen as being entrepreneurial. However, if he is the first to sell the same product in a virgin locale or to an untouched market segment, he will be seen as an entrepreneur in his own rights.

Take Muhammad Yunus, for example. Yunus became an entrepreneur when he started a micro-loan program for the poor villagers in a rural part of Bangladesh named Grameen, with only US$26. The loan was divided among 42 villagers to assist them to buy small items such as combs, scissors, needles and other necessities to start their own home businesses. In the past 22 years, Grameen Bank has grown with over $2 billion loans granted. It has now become a model for several micro-loan facilities.

>From the following example, Yunus created banking and lending facilities in Grameen specifically for the poor villagers. Banking and lending money activities are not new but Yunus was the first to provide such facilities in a rural part of Bangladesh and that is definitely innovation and risk-bearing on his part as a social entrepreneur. In short, innovation need not arise mainly from a new product or service but it could be an old product or service finding a new market for penetration.

An individual could be termed as an entrepreneur if he or she sells a product or service using new systems and/ or mediums of marketing, distribution or production methods as a basis for a new business venture. A good example will be Jeff Bezos, the founder of Amazon, the successful Web-based bookstore. He was one of the first to sell books on a large scale using an online store and also patented the one-click system for online buying. Though selling books is not an innovation in itself, Jeff Bezos was innovative in the use of the Internet then as a viable marketing and sales channel for selling books.

Another example from the field of e-commerce is Stuart Skorman, the founder of Reel.com [http://Reel.com]. Reel.com [http://Reel.com] is essentially one of the first cyber movie store with a very large inventory of over a 100 000 videos. Though setting a movie store was revolutionary then, Reel.com [http://Reel.com] main distinction was being known as the first online store to expand by opening an offline store. The founder felt that by doing so, the online store could be an advertisement for the offline store and vice versa, thus strengthening this click and mortar business venture- an example of creativity and innovation applied in a profitable business context.

Conclusion:

This paper has started as an attempt to redefine the term of entrepreneurship but ended up ‘updating’ the wheel, based on the definition as proposed by Schumpeter. The paper expanded on this influential work by giving examples to illustrate what innovation in entrepreneurship was and hope that along the way, new insights were unearthed in the study of defining entrepreneurship.

In summary, the author hopes that this paper would further encourage the infusion of creative thinking and innovation within the educational system to nurture future entrepreneurs with a competitive edge. In the author’s view, the characteristics and capabilities to set up a new business venture based on doing things that have not done before should be encouraged. Innovation needs to be the cornerstone of entrepreneurship as opposed to the mere setting up of another new enterprise without implementing changes or adding features of improvements to the products and services provided and/ or its business processes.