The practice of outsourcing in business has been around for many years. It is a phenomenom that is sweeping the business industry and affecting all sectors of the economy. Outsourcing is defined as “the transfer of an internal service function to an outside vendor.” In it’s most simple form, it is a term for having someone else do your work. Other terms used are contracting out or subcontracting to denote buying a product or a service from an outside supplier rather than providing it in-house.
Outsourcing trend in 1970s simply involved a supplier managing and operating a function formerly carried out in-house. During the 1980s outsourcing evolved toward closer collaboration between two companies; in the 1990s the trend is toward fuller partnerships.
Today, companies could outsource some of their functions overseas. The trend towards global outsourcing can be traced primarily to two factors : cost-reduction pressure and advances in telecommunication technology. Big corporations are paying educated foreigners to do the same chores as Americans for a fraction of the cost. Thus, operating costs go down, and profits go up, driving the company’s stock up.
Why shop online? Compared to brick-and-mortar stores, online stores are open 24 hours a day, seven days a week. The selection at the big web shopping sites, especially for books and music, can be much larger than at your local stores. If you have ever circled the web or window-shopped online, think about the wealth of merchandise and the ease of shopping even in your pajamas in the middle of the night.
Here are some tips culled from the Better Business Bureau’s web site and issues of Consumer Reports, to help you get the most out of your online shopping experience:
Habit # 1 : Use comparison sites and shopping bots wisely.
Habit # 2 : Watch those shipping costs.
Habit # 3 : Determine the company’s refund and return policies before you place an
order.
Habit # 4 : Always use a credit card to order.
Habit # 5 : Save a copy of your confirmation/receipt.
Habit # 6 : Order from secure, well-known businesses and establish a relationship.
Habit # 7 : Shop with a coupon/discount if possible or use charitable portals.
There is a well-known saying in the marketing circle that says something like this -you can't please all of the people all of the time. This statement could also serve to describe the principle of target marketing. Because consumers have so many different needs, it is difficult for one product to satisfy all consumers. By grouping consumers with similar needs into market segments, it is possible to target a product to consumers in the chosen market segment , also called the target market.
A market segment is defined as a group of consumers with similar needs. Markets can be broken down into segments using various approaches :
* Benefit segmentation consists of grouping consumers together who are seeking similar benefit. Example of common benefits associated with say food products include taste, nutrition, safety, appearance and convenience.
* Demographic segmentation means grouping customers who share a common demographic makeup, such as age, income, education, sex, or nationality.
* Occasion segmentation means grouping customers according to the occasions for their use of product. For example, customers who eat out do so for business, pleasure, or to save time.
* Usage-level segmentation means grouping customers according to whether they are users or non-users of a product, or whether they are light, medium, or heavy users of a product.
* Lifestyle segmentation means grouping consumers by their lifestyle such as "soccer moms" as example.
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