Porter’s Five Forces Model And Internet Competition

According to Porter’s Five Forces Model, in my opinion, competition has increased overall as a result of the internet and e-Commerce. The internet and IT has made it possible to both focus on the top and bottom lines and market share is expanded and costs are cut. Many products and services exist just online, major companies have gone online to successfully augment the brick and mortar corporations, and the playing field is all the way to edges of cyberspace, wherever that is. We will further evaluate this stepping through all five forces.

Buyer power is higher when buyers have more choices. Businesses are forced to add value to their products and services to get loyalty. Many loyalty programs include excellent services that customers demand on-line. Customers want to solve their problems and many times they are more successful on-line than on-phone. Also, we see internet savvy businesses springing up offering more valuable goods and services at lower costs. Now with the advent of eBay, many people are assuming roles as drop shippers. Individuals can have a thriving business selling goods of larger companies without having to carry inventory.

Supplier power is higher when buyers have fewer choices from whom to buy. As mentioned earlier, drop shipping has increased the amount of suppliers available. All an individual has to do is form and agreement to sell products for the company. The company takes care of all the logistics. The same is true of associates programs that Amazon.com and Google.com offer. Associates allow a webmaster to earn money by recommending products from others. This increases supplier offerings.

Threat of substitute products or services is high when there are many product alternatives. This is different than having many suppliers. Examples of alternatives are exchanging brand names, substituting credit card capabilities, and looking at better values from cheaper sources. The internet allows this with the “global economy”. I can substitute my product by purchasing from companies overseas where labor, services and products are cheaper, but of comparable quality.

Threat of new entrants is high when it is easy for new competition to enter the market. Well, what have we been talking about? Now, small operations can open shop with less than $10.00 per month and make a lot of money. As inventive as people are, there are always opportunities to do improve a product or service or just create and sell something new. Recently, many new entrants have made even more money authoring Ebooks that tell others how to do what they did. Rivalry among competitors is high when competition is more intense within industries.

On-line book stores and catalog companies are an excellent example. Amazon.com and Barnesandnoble.com are very competitive. However, there are many also smaller niche affiliate bookstores that when combined take a great deal of market share. They offer even more competition. However, both major bookstores have used IT to create value for their customers. These values include associates programs, ease of payment and shipping and many, many others.

The internet offers avenues of competition to existing companies and opportunities for start ups. Now businesses can enter the market on-line with few barriers to entry. Porter’s Five Forces Model can help demonstrate the attractiveness of starting your on-line business. A business person should use the model to identify competition, make a plan, and implement the process.

Understanding Marketing – An Overview of Strategies, Costs, Dangers and Risks

What is Marketing?

Marketing is a business discipline through which the targeted consumer is affected to react positively to an offer. This can relate to the purchase of a product or a service, the joining of an organization, the endorsements of a candidate or ideology, the contribution or investment in a cause or company, or a variety of other choices of response.

The marketer can use a number of techniques to reach the consumer which can be based on artistic or scientific strategies, or a combination of the two.

Typically, the consumer is identified as a member of a particular segment of the populace, known as a market. For example, markets can be defined by age, income, area of ​​residence, home value, interest, buying habits, industry or profession, etc., which facilitates and simplifies the marketing process. Knowing to what the marketing effort is appealing greatly asserts the marketer in developing appropriate language, reasoning and incentives to find success in its marketing efforts.

Choosing to target a particular market as opposed to the entire universe also greatly controls marketing expenditures but also may limit response. If anyone anywhere can be a customer, sales expectations may be higher but marketing costs will certainly also need to be higher as well with such a huge target as its goal.

To address this dilemma, more creative means of marketing are sometimes utilized to assist with marketing message delivery. If what is being marketed is considered newsworthy and of public interest, editorial coverage in the media can greatly assist marketing efforts. Since this usually is not reliant on major marketing funds other than what is needed to support the development, distribution, and yes, marketing of press releases to editors and publishers, the advantages of such publicity can be priceless, albeit typically miraculous on such a large Scale.

Marketing is everywhere!

Everywhere we turn, everything we do is somehow connected to marketing, whenever we have been induced to participate in some activity because of it or develop an interest in some idea as a result of it. Whether we realize it or not, there are personal, political or commercial agendas cloaked as news we read in the paper, behind the books, movies and music we experience as part of our culture, and within the confines of our stores and supermarkets where we Shop. Of course, we easily recognize the blatant marketing efforts that reach us through direct mail, media advertising, and all over the Internet including the spam we receive ad nauseum . Marketing has become one of the most all-pervasive elements of life and we are fools if we do not question the validity or innocence of everything we read, see and hear.

Marketing is communication and education!

In order to be successful in business marketing, the customer must be reached in a variety of ways. First of all, not every customer gets the daily paper or listen to local radio. We have limited knowledge of which TV station they may watch, where they shop, what roads they travel or where they dine. Depending on what we are marketing, we may have to utilize a whole assortment of avenues of marketing to get their attention. And, if we reach them just once, that is hard enough to make a lasting impression. Marketing is necessary on a repeated basis in a diverse number of ways in an ever-changing presentation to insure that every customer can relate to it in some way, learn what we are offering and understand how it can benefit them. To achieve long-term customer loyalty, the targeted consumer needs to be coddled into familiarity with what we are selling so they feel it is something they really want as opposed to having it forced upon them as something they unfortunately need, only to find out later They were tricked!

Marketing Sounds Expensive!

Yes, marketing can get pricey particularly if it is done on a consistent basis. But in today's world, we have marketing options we never had even twenty or thirty years ago. Now, instead of paying for expensive printing and postage to mail a brochure or postcard to a targeted consumer, we can utilize email marketing, website presentations or online banner ads to reach the same market, usually at a fraction of the cost. Today, instead of buying expensive print advertising, we can work on improving our website's SEO (search engine optimization) – (something we can do for free, if we are so inclined) so that people in need of what we offer can find us through Internet searches, rather than our trying to find them at an astronomical expense.

What About Social Media Marketing?

In addition to alternative marketing options already mentioned, there is the latest craze for Facebook, Twitter, LinkedIn, and other incredibly popular social media where people, young and old, spend hours developing relationships with "friends" they may never have met or ever will Meet. Yet they share intents secrets of their deepest thoughts and desires as well as actual photographic representations of the same which sometimes land people in trouble with the law, or at the very least, their employer, school or parents.

Whatever social media marketing is a worthy endeavor for businesses remains to be seen since businesses rarely accumulate millions of followers the way celebrities do. But as a way for customers to interact with a business for which they may have developed a fondness can not be disputed. Can this translate into more sales for the business? We'll have to wait and see, while continuing to devote precious time to composing meaningful 140-character tweets and building a Facebook "persona" for the business. From this writer's point of view, the only worthy social medium for business is that of LinkedIn since it provides a serious platform on which to create a business résumé where anyone interested in your professional stature can quickly summarize your capabilities, experience and accomplishments.

Marketing Can Be Intuitive

Much of what becomes marketing strategy is based more on common sense than on some mysterious scientific formula. As we see on a daily basis in stock market gyrations as well as political leanings, the herd mentality rules. On any particular day, if the Japanese or European stock or bond markets are selling off for one reason or another, you can safely bet that the US markets will follow suit. And in any political race, as we are witnessing in the US presidential primaries, the more one candidate gains ground, baby step by baby step, the more likely that candidate will become the party nominee. Today's world is governed by a minute-by-minute opinion survey measured by the endlessly publicized polls where people see what other people are thinking and use those results to form their own opinions. Monkey see, monkey do. The same holds true for marketing.

If we are told that a certain brand of coffee is the leading brand in America, we will probably believe what we are told, assume it tastes best, possibly buy it ourselves regardless of cost, and possibly adopt it as our own favorite. All because we were told everyone else was doing it. Safety in numbers, as they say.

It is ironic that those who become successful marketers usually dwell on the outskirts of the herd, have a more astute grasp of mass psychology, and approach business and life in a more innovative, creative and unique way, a mindset that they use to form the next Marketing phenomenon. The world is made up of leaders and followers: a few choice leaders and a glut of followers. It takes a lot more cumption to become a leader than it does to join the herd. That's why marketing is a profession based in psychological control by a choice few over the mindless masses who have no initiative or courage to decide for themselves.

What is the difference between marketing and selling?

Selling is one aspect of the greater process of marketing. Marketing begins long before the product or service is even ready to sell. Marketing encompasses the concept, naming, branding and promotion of the offer while selling is the much more individualized effort to convince a lead who has clearly responded to the marketing offer to make the purchase. You can not have one without the other, at least not easily. Marketing is a process by which we strive to reach the final goal of making the sale. Without marketing, the sales process is extremely difficult because the entire onus of educating the consumer about the offer is on the shoulders of the sales representative. On the other hand, if marketing has been successful, the sales rep can waltz in knowing the consumer is well apprised of the offer and can work his magic to convert the prospect into a satisfied customer.

What are some of the instruments of marketing?

There are many ways to market an offer, some of which are expensive, and others of which can be free. The methods we use that cost us dearly may not work as well as some of those we receive as a gift. Among the expensive ways are media advertising, direct mail, conference presentations, distribution of printed literature, online advertising, email marketing, etc. Of those that are free are efforts referred to as guerrilla marketing, which are things we do ourselves to spread the word, network and publicize what we are offering. This can include posting flyers on bulletin boards in supermarkets, libraries, delis, small shops, and government offices, etc. Every time we add a tag to our emails where people can click to go to our website, we are using guerrilla marketing at no cost. Making sure we are easily found in Internet searches through search engine optimization of our website or other online presence, is an excellent way to achieve free marketing. One way to do this is to register your company or organization on every possible free online directory in your industry, region or interest group which translates into exponential growth as time passes.

What is viral marketing?

Viral marketing (as it refers to the word "virus," meaning contagious and capable of spreading) is another means of free promotion facilitated by shrewd decisions we can make to further our cause. The easiest way to define viral marketing is that which is communicated by "word-of-mouth." Related to the herd mentality discussed above, if a friend or business acquaintance sins a product or service in a favorable light, we will be much more inclined to remember it and check it out. This can happen in a business meeting, at a mall, at a soccer game or over lunch. However, since most of us spend so much time on the Internet, it can happen practically everywhere we turn by clicking on the "like" buttons on Facebook or the "1" button on Google, among others. These are our personal endorsements where we give a "thumbs up" to something we have experienced and want to share with our friends so they too can enjoy it. Getting your offers out with such buttons attached can result in viral marketing in your favor.

Viral marketing can have powerful repercussions as experienced by one client with an online auto accessories store. Many of his customers frequent online special interest forums related to the model of car they drive where members discuss products that have installed and the source of their purchase, followed by a link to his refereed website. Such referrals are repeated in other ensuing discussions, multiplying the number of links back to his site, increasing the power of his SEO and catapulting him to the tops of Internet searches for what he sells. He paid nothing for this phenomenon of parlayed good fortune except the daily effort he consistently expends to offer top quality merchandise and equally excellent customer service.

Do you need marketing?

If you are in business, of course you do. While you can attempt to do as much of it as you can on your own, it is advised that you begin with a reliable base of professional name, logo, website and search engine optimization to get started on the right foot. From there, you can work on promotion via guerrilla marketing and seek professional marketing services as needed for special needs, like a strong, effective ad to run, the development of professional sales literature to distribute at an emerging show, or a direct mail promotion to Your list of repeat customers, for example. Some business people choose to handle their own taxes to save on the cost of using an accountant for such critical functions at the risk of getting audited. Likewise, you can certainly attempt to produce marketing tools yourself but for long-term branding purposes and best return on investment, it is advisory to leave marketing development to the professionals.

Top 6 Trends Followed by the E-Commerce Website Design Company

An e-commerce web design has its own unique character and is indeed designed to lead the online shoppers to make purchases from the site. When a business designs an e-commerce website, it needs to consider the chief principles of designing e-commerce website. An e-commerce website has to be attractive and must use the right color combination. Only a well-organized website can help you convert. The best e-commerce website design company follows the latest trends in e-commerce website designing.

If you are looking to have an online store or redesign the site, you must choose only an e-commerce website design company which follows the latest trends in web designing. Let us check out the latest 6 trends.

· Bigger background to redesign your site: When it comes to designing the website, companies are looking to incorporate video backgrounds and large images. If the background is large, the company can convey the story of the business and talk about the products and services in details. The more convincing the story sounds; the more chance of conversion is there. Buyers will be attracted towards the products and end up making purchases.

· The use of animations to engage the customers: If you want to engage the customers in the best possible manner, it is great to use attractive animations. A reliable and experienced company will use rich animations into the design to make the shopping experience enjoyable. It is only animations that can make your customers feel that you care for them.

· Cleaning off clutter: Nowadays, when it comes to creating an e-commerce website, the more focus is upon having a clean design. Among the designers, the hidden menus are extremely popular. It helps in cleaning clutter from the site and this is why it is so popular. Initially meant only for the mobile devices, now hidden menus have established their presence in the desktop design as well.

· Long scrolls: Now everyone is used to long scrolling web pages. This is all due to the coming up of mobile friendly websites. If the website features long scrolling, it will allow more of visuals, storytelling and also permit easy navigation. If the scrolling is permissible, the users will like to stay to the site for longer periods. This will promote interaction and open the door for more sales.

· The layout is responsive: More and more web designers focus on creating responsive websites featuring a responsive website design. The design of the site must be such that it is displayed well on the mobile device or any other device. Your site must be accessible from multiple devices.

· Pleasant browsing experience: Ecommerce web design companies in India focus on giving your users a pleasant browsing experience. Thus, they can shop comfortably without any delay in page loading. Professional designers include only relevant content and thus help your brand establish trust relationship with the customers.

If the e-commerce website design company follows all the latest trends in e-commerce website designing, your site is sure to succeed and gain an edge over the competitors.

Frequently Asked Questions About Becoming a Private Investigator

How do I become a private investigator?

That's a complicated question with several parts that greatly depend upon in which state you plan on working. You have two options; You either work for a licensed private investigations agency or you go to work for yourself and obtain your own PI company license. Either way, you there are two considerations you must address at some point:

The first consideration is licensing; All but only a competent of states require a state-issued license to be a private investigator. Each state has different background, education and experience requirements that may vary from simply attending a state-approved training course to pre-licensing education, exams, years of work experience and obtaining a sizable professional liability insurance policy with "errors and omissions" coverage. To make matters just a little more confusing, there are some cities that require private investigators to either register or obtain a municipal license in states that do not otherwise require them.

The second consideration is training. Private investigation specific training is the most important investment you can make in yourself! Since most new PIs do not have the ability or are not ready to start up their own investigations company you will most likely be looking for employment with an established agency. As an owner of an established and well respected detective agency I get resumes all of the time; The first thing I look for before considering a candidate is to ask the question, "How has this person invested in themselves before asking me to invest in them?"

What if I Do not have the minimum experience required by the state to obtain my own company license? How will I ever break into the industry?

If your goal is to personally own your investigations agency, no problem … every state that requires experience also has a program in place to see that new investigators have access to eventually obtaining their own license. For example, in Texas where we hold an agency license those who are too new simply go to work for an established company until they have the required number of hours to be able apply for their own license. In Florida (where we also have an agency license) they specifically provide internship licenses. Again, every state is a little bit different but thousands of successful private investigators are working today and tens of thousands have come before us; We all had to get started someplace … you can too.

Also, consider your own background and employment related experience carefully some of it may apply. I have known loss prevention agents, security guards (in particular roles), accountants, firemen, bail bondsmen, alarm installers, teachers, and even a librarian use their previous employment experiences to apply for their own agency license.

What type of training should I be looking into?

Any amount of training is great though most PI companies do not place a whole lot of credibility with the courses from PCDI, Harcourt, and Thompson Direct. You could honestly do much better and at less cost.

Instead, look for academies or training programs that have been created by private investigators. Who knows better about what a new or an aspirating private detective needs to know than an investigator who has been in the field for a reasonable amount of time?

Also … look to see that the sponsoring company is active in the industry as well. Are they still providing regular private investigative services to a robust clientele? It's sad, but many PIs who wash out over a very short period of time in the business look to teaching. In reality, you will learn very little from those who could not make it themselves; Success breeds success!

Lastly, I have a little secret I would like to share with you …

Look over the education provider's entire website and see if you find boastful claims or where the company is bashing other educators. This is a very tight-knit industry and you will find that students who complete training programs from educators that spend time "bad mouthing the competition" have a terrible time getting a break simply because of the animosity created through their educator's use of negative advertising. I know that seems irrefutable but it is a reality in this business. This does not mean, however, that you should dismiss the negative press but the first thing an excellent private investigator learns is how to evaluate a claim, identify the source and make a judgment based on additional facts and research. Some statements will have merit while others will not; It's up to you to make that decision.

What is the difference between a private investigator and a private detective?

Nothing. The terms are used interchangeably but some states choose to use the term "detective" while most use the term "investigator."

I really just want to help my friends and family to find old friends or people who owe them money. Do I need a PI license?

That's a great question. Generally speaking, in those states where it is a requirement you will need to obtain a license if you hold yourself out for hire or accept payment from another person or business and participate in or provide the following services:

O Surveillance

O Obtaining or furnished information related to a crime or the identity, habits, business, occupation, knowledge, movement, location, affiliations, associations, transactions, acts, reputation, or character of a person, group or company.

O Securing evidence for use before a court, board, officer, or committee

O Locating or recovering lost or stolen property and unclaimed funds.

O Determining the cause or responsibility for a fire, libel, loss, accident, damage, or injury to a person or to property.

Some states may specifically include such things as service of process, bail enforcement, personal protection and genealogical research under those activities that require a private investigator's license as well.

Do I have to have a degree in Criminal Justice from a college or university?

No, though some states may accept a degree in Criminal Justice, Administration of Justice or Police Sciences in lieu of the minimum experience requirements. One recent study conducted on behalf of the Virginia Department of Justice concluded that almost 57% of all private investigators do not have a college education.

If I do not have a college education do I have to have a background as a police officer or other law enforcement related profession?

No. Most private investigators do not have a law enforcement background before entering into this industry. It is true that many private investigators may have once had a career in criminal justice but the bottom-line is that private investigation and law enforcement is very different and my experience has been that very few who make the transition from law enforcement are prepared for this Type of work, either technically or creatively, on their own. Most of them recognize this and seek industry specific training as well.

What type of person makes a successful private investigator?

This business requires a rare blend of logic and creativity; It's rare because logical people tend to not be very creative and vice-versa.

I would say that any successful detective must first have the ability to communicate. This means that he or she must have the ability to connect with people of all walks of life, regardless of economic status, ethnicity or education. It also means that the investigator must have the ability to clearly present a simple fact or a complex inquiry in writing. The end result of an investigation is the investigative report, which is given to the client upon conclusion of the assignment; This is especially our work product. If you can not write reasonably well, your reputation will certainly suffer as a result.

Secondly, great investigators have a burning desire to answer any question that is put to them only after a careful and determined effort to identify the facts and circumstances that contribute to a complete and unbiased explanation. We are in the business to provide facts, not opinions; We let our clients draw their own conclusions from our report. Oftentimes in order to get to those facts, we must be relentless in our pursuit of information. This is where logic meets creativity. Dead-ends often only require a different approach!

Lastly, I believe that every investigator should possess a varied set of experiences and knowledge. One characterization of the private detective industry I can make is that by and large we represent a vastness of experience, skills, and trades. One of the most accomplished investigators I have ever metlisted "Mom" on her resume. When she decided to become a private investigator she had no appreciable skills that she could put in her resume but through her own experiences she had developed an intuition that was almost never wrong and she could simplify complex problems into there most basic parts. I have personally hired a plumber, building contractor, car salesman, and a host of other seemingly unrelated career types into my own company, CompassPoint Investigations, because they had certain intangibles that made them great in this business!

The bottom line is that anyone can train to become a wild successful private investigator, just like one can train to become a barber or an attorney, but an aspiring detective has to bring some things to the table that can not be easily taught: creativity, logic , The ability to communicate and an insatiable curiosity!

I have a criminal conviction in my background from many years ago. Will this affect my ability to become a private eye?

Every state that requires a license to be a PI also requires a background investigation as a part of the licensing process. I believe that a felony conviction will be an automatic disqualification in almost every instance (although I know a felon who has a PI license issued by the city of Columbus, MO.), While misdemeanors may be considered depending upon the crime, its seriousness and The amount of time that has passed since the conviction; Again this will vary by state.

Will my military discharge affect my ability to become a private investigator?

In some cases a discharge that is anything but honorable may prevent you from becoming a PI. Just as in the answer to the criminal conviction history above, some states require PI applicants be free from negative military discharge classifications- Bad Conduct Discharge, Less than Honorable or Other Than Honorable service characterizations are grounds for denial of a PI license in several states and Jurisdictions.

Perhaps the Florida Division of Licensing put it best: "Private investigators and private investigative agencies serve in positions of trust. Untrained and unlicensed persons or businesses, or persons not of good moral character, are a threat to the public safety and welfare. Investigative industry is regulated to ensure the interests of the public are adequately served and protected. "

Can I just specialize in a particular type of investigation or will I have to do the surveillances and cheating spouse investigations too?

I absolutely recommend that investigators find their niche and specialize in only a few types of investigations! There are several important reasons for this, which I discuss in my training programs, but it can be summed up this way: when you are the most notable investigator in your region of the country for a specific type of investigation, you will find additional additional Opportunities to make a lot more money than if you advertise yourself as a "jack of all trades." This has been proven across the country time and time again and is a major topic of discussion in our coming private investigation marketing manual.

What types of assignments do private investigators typically take?

Wow, the options are endless and the subject really describes its own entity section! I have listed the most obvious types of private investigator assignments in an article you can find by going to my Articles Page. I will eventually briefly describe each type of investigation in the next couple of weeks. Continue to check in as we are constantly making additions.

What type of investigation or specialty assignment pays the most?

I do not know that anyone can answer that question definitively, but I will say that surveillance is typically the most lucrative type of assignment a private investigator can get because it is solid, billable, blocks of time. I am aware that there are particular types of investigations where investigators are making anywhere between $ 300 and $ 500 an hour for activities like forensic computer evaluation, security consulting, automobile repossession, and a few others specialties. I personally have made $ 10,000 in an hour on several occasions in 14 years doing bail fugitive recovery work, those types of paydays are few and far between. Overall I average almost $ 150 an hour while engaged in bail enforcement, not too bad by most people's standards, though many investigators just do not have the stomach for that type of work. It can be extremely dangerous, it is a very competitive field and you get paid only if you can complete the case.

Is private investigation dangerous work?

Obviously, there are some PI jobs that are more dangerous than others like contractual repossession or bounty hunting but, generally speaking, private investigation is not a dangerous job. We all have heard the stories of PIs getting spoken while on surveillance by an irate cheating husband or being chased out of a yard at the business end of a shotgun while serving a subpoena. Most episodes of Magnum PI had Tom Selleck dodging bullets, too. Certainly, scary things can and do happen on rare occasions but like all war stories, the ones that seem to get a lot of attention play out more like fiction than reality. Safety is always at the forefront of every trained investigator's mind.