Building Big Business in the New Economic - Deepak Bajaj

 

 Building Big Business in the New Economic - Deepak Bajaj

I have condensed my 13 years of experience in the direct selling industry into this course to help you out with the tools & strategies that I used for my Success. •Be the Fastest & Smartest Achiever •Build an ever-growing team on the foundation of System & Ethics Companies in 21st century have to adapt to ever changing environment. At present, companies represent a curious mix of old as well as the new economy. A great deal of research has already been done with respect to the old economy, but for the new economy, companies are learning it rather hard way. Companies have to choose elements from old and new economy wisely as to build a business model which would bring value to the company.In the old economy focus was only on standardization, mass production and singular marketing policy. However, with the amount of information available in the new economy, companies are best at understanding consumers. This better understanding has led to customized products, a shift from standardization. However, this customization has its drawbacks not only for companies but also for customer. Companies find it difficult to maintain the cost level for customized products to register profit.The new functioning of economy has changed the way companies approach their business. Companies are looking forward to expanding across market segments to get maximum market share while keeping focus strictly on customer needs. For these companies are making organizational changes where departments are developed to manage a segment rather than a product. Companies are looking forward to developing consumer based brand equity to foster long term relation. Companies are coming up with products, which perform superior than consumer expectation there by creating a strong brand while the earlier branding task was accomplished through advertising. Companies are treating employees, distribution channel, and suppliers as their business partner and not customer.Since companies have changed the way they function in the new economy, it is imperative that marketing practices also adapt. As consumers are looking forward going online for major of their purchase, businesses are looking towards electronic commerce (e-commerce) as a way forward.E-Commerce has also open doors for customer to customer relation through social networking and community forums, in which experience and discussion are done with respect to products. Through internet consumers are able to provide faster feedback to companies with respect to products and services.As businesses are moving online, the focus shifts to developing of web sites to provide reliable and correct experience to consumers.Online marketing and advertisement have got prominence in this internet age. The new economy had brought forward challenges and opportunities not only for companies but also for consumer.