Using Personalized Products to Market Your Business

In today’s marketplace business owners of every size are looking for unique ways to market themselves. What makes this such a hard undertaking is the fact that finding something unique, affordable and brandable for your business is hard to find. A smart business person would ask, why spend all the money on marketing if you can’t tailor make it for your business. I totally agree and want to give you some guidance in how to use personalized products to market your business. There are two different categories that can be used in this style of marketing. A business owner can personalized a product for the customer or using the product to personalize the business.

All businesses need a customer base to be successful. In the best of times this can be difficult to achieve and maintain. During this economic downturn smart business owners start looking outside of what they already have set up in their marketing campaigns. Thinking outside of the box and looking at other alternatives for their marketing plans.

If a business deals with product a great idea would be to bring personalized items to their customers. This would benefit your customers with products and gifts that are unique and highly sought after.

When looking for marketing or promotion items a company looks for products that are unique enough to capture a potential customer’s interest while still being affordable enough to make the marketing campaign affordable. Having the business name on the product is important and if being able to add what the company represents on the promotional item is an option, its one that will often be opt in too. This branding is something that businesses work hard on and if done successfully will show returns that make a business owner happy. Personalized items bring that branding to your company giving the customer all the information you want them to have plus putting a unique product in front of them with an affordable price tag.

Bringing personalized product to your business arena will benefit you with your customers but also can be used in the office to increase productivity with your staff as well. If you run contests or drives in your office and need a unique product as a reward the benefits of personalized products are the same for staff as for a customer. They can be customized and made for the individual. You can also brand it with the company name, colors, logos and other ways. The same item can also be used but appear to be custom made for each employee. Price point is also an appeal; personalized products are high quality items made special by information for individuals making having a higher expensive perception that what is actually paid.

Productivity and Motivation

Motivation and productivity are two interrelated concepts, the latter fuels the former and the former is the ending result of the latter.

Productivity is a measure of performance to show how effective an organization can turn its resources into products (or services) intended.

Measure

Productivity is known as a relative measure despite its many forms, since being used for comparing the effectiveness of many different entities. These may be individuals, countries or organizations.

Productivity can show how effective an organization can transform the inputs into the outputs. Usually it is expressed as a ratio output/input in the manufacturing area.

What Multi-factor Measurement is

Productivity may be stated as multi-factor measures, partial measures or overall measures.

Partial productivity is single input. (for calculate products (or services) produced per hour, per plant or per worker etc.)

Multi-factor productivity measures can show the use of multiple inputs (for example output units in the total of labor, energy, capital or production units in the total of labor and materials).

What Productivity Motivation is

Productivity motivation is in relation to the way for motivating a person is performing an activity or task. Improvement programs for workers are based on the way to motivate workers to improve productivity.

Some organizations nowadays offer their workers the recreational activities and sports, leisure and fitness activities and several programs orienting to family.

This approach to increase the performance of employees can capitalize on quality measures such as value, quality circles, Total Quality Management (aka TMQ), performance and innovation standards (on-time delivery, profitability, customer satisfaction, efficiency) as well as bring a variety of team and personal incentives and rewards.

General Knowledge of Mutual Reward Theory

Mutual reward theory (MRT) is known as a very incentive program to help their employees of an organizations or company achieve their goals. This is achieved while meeting production goals of the company.

The greatest rewards are obtained when profits are optimal for all people. Generally, productivity is proportional to the success degree of MRT directly.

How to Calculate the Growth of Productivity

The growth of productivity is known as the measure of the sum of services and products produced within a given period of time. First, it is necessary to determine a standard. Next, the standard (or benchmark) can become the measure against that most of productions in the future will be measured against.

The annual growth rate In a country is being observed. The growth rate of productivity may be proportional to the people’s wealth directly. If the productivity levels increase, so the buying power of people increase too. The sum economy can benefit from the increase in turn.

Most valuable resource

Many researchers of productivity agree that people are the most valuable of all resources of the world. It has been suggested training and education are responsible to raise the productivity levels of individuals.

The researchers of productivity also suggested that achieving expertise through training and education could be maximized by the development of the ones wanting to work and learn and improve continuously at their potential.

Motivation

As there are motives for employees to be proud of who and what they are working for, these employees are able to add a remarkable value to the company or organization. They are able to contribute more to the productivity for themselves, their company or organization and the economy in general.

The Product Life-Cycle Concept

Because we live and work in a dynamic market situation, managers must accept as the normal state of affairs that all products have a limited life. This fact is commonly expressed in the form of the product life-cycle curve. Products during their existence go through the phases indicated on the curve, as follows:

1. Starting before, sometimes long before, a product reaches the marketplace, there is a development phase. Market research must be undertaken, the product designed, prototypes built, plants laid down. While costs can be very high, income will initially be nil and will probably grow only slowly. Profits are a long way off yet. Many products are slow to ‘catch on’ and this part of the curve typically does not rise steeply.

2. During the growth phase the product reaches general acceptance, and sales increase steeply. Profits mount as development costs are recovered and unit costs decrease with greater volume of production.

3. As the product reaches maturity, initial demand is beginning to be satisfied, competitors may have arrived on the scene, and there will be greater reliance on replacement sales. Sales increase more slowly, and profits come under pressure and may start to decline.

4. When the market is fully saturated, sales will ‘peak off’ and profits decline still further.

5. Finally, sales will go into definite decline and margins come under very severe pressure as it becomes increasingly costly to maintain sales at a reasonable level.

The curve for any particular product may be steeper or flatter, the time-scale may be longer or shorter. Some products seem to go on for a very long time. For this reason the pattern must be applied with care. In addition, we must be careful what we mean by a product in this context: for example, the market for glass has risen steadily over the past 50 years, but within this period the sale of lamp glasses has declined and that of milk bottles has risen steeply (to decline again in some countries in face of competition from waxed cartons or plastic and the change from doorstep delivery to bulk purchase from the supermarket).

Nonetheless the typical pattern stands as a warning that it is dangerous to rely too heavily for too long on one product, so that, as profit from one declines, profit from its successor rises to fill the gap. Ideally this will give a steadily rising profit for the company as a whole, even though some products have entered the ‘decline’ phase of the product life-cycle.

It must be emphasized that the product life-cycle diagram is not a rigid description of exactly how all products always behave. Rather it is an idealized indication of the pattern most products can be expected to follow.

There is nothing fixed about the length of the cycle or the lengths of its various stages. It has been suggested that the length of the cycle is governed by the rate of technical change, the rate of market acceptance and the ease of competitive entry. So, each year numerous new fashion styles are introduced, many of them to last only a few months. At the other extreme, a new aircraft must have many years of life if it is to be commercially worthwhile.

The main importance of the life-cycle concept is to remind us constantly of the three following facts:

1. Products have a limited life;
2. Profit levels are not constant but change throughout a product’s life in a way that is to some extent predictable;
3. Products require a different marketing programme at each stage of their life-cycle.

Implications of the Product Life-cycle

If we have to accept that no product will go on earning profits indefinitely, then we must plan so as to have a whole succession of new products coming ‘through the pipeline’. Peter Drucker has drawn attention to the need to keep all products under review to ensure that not too high a proportion are at the end of their life-cycle. He describes the following six categories:

1. Tomorrow’s breadwinners – new products or today’s breadwinners modified and improved;
2. Today’s breadwinners – the innovations of yesterday;
3. Products capable of becoming net contributors if something drastic is done;
4. Yesterday’s breadwinners – generally products with high volume, but badly fragmented into ‘specials’, small orders and the like;
5. The ‘also raps’ – generally the high hopes of yesterday that, while they did not work out well, nevertheless did not become outright failures;
6. The failures.

Product Elimination

From the product life-cycle concept and Drucker’s analysis of product categories, it follows that all products must be kept under review to assess their present and likely future contribution to profits. A common mistake of marketing management is to keep in the range products that have little or no prospect of contributing to profits. Products are kept in the range until they fade away, meanwhile consuming valuable resources, which could be more profitably utilised elsewhere. These marginal products lower the company’s profitability, and it is essential to control them.

Source: http://en.articlesgratuits.com/the-product-life-cycle-concept-id1560.php