This post explains why businesses and customers look for 5-star reviews, how “fake it till you make it” works for companies and individuals, Why in the digital big data world, fake reviews will be found, and finally some tips to protect yourself; in the meanwhile, from fake reviews.
Category Archives: Globalization
B2B 6: Do you like being judged? Marketer tips for Supplier Evaluation
The sixth and final step in the B2B buying process is supplier evaluation by the Buyer Organization. And frankly, no one likes being judged! But evaluations are a must in every aspect of life – if we are to develop,improve and evolve.So too with supplier evaluation. As a B2B marketer it’s good to have a growth mindset. Because it keeps you and your organization nimble and agile no matter what the changes in technology and globalization.
Coronavirus: Why is the panic so acute?
It’s hard to remain calm when one was expecting the Dow index to cross 30k and it’s in the 26K range. – in a matter of days despite interest rate reduction.. If the Louvre museum is closed and Mona Lisa has a mask things are getting serious. Coronavirus is dangerous but the panic is even more dangerous.
Purpose of a Corporation : What every American needs to know
The most exciting thing for business over the 2019 summer was when the Business Roundtable put out a Statement on the “Purpose of the Corporation.” Signed by 181 American CEO’s all of whose brands are well known to consumers or businesses, the statement reflects the changing times. Download the Roundtable Statement here and check out the 181 signatures from many CEO’s of companies you are already familiar with.American politicians have been telling us what we know to be true – the “American Dream” eludes most folks today due to rapid changes in globalization and technology. Thankfully, leaders of American businesses have taken notice and have decided to move their focus from the “next quarter” to “long term shareholder value” on the shareholder element and have included all stakeholders in the “Purpose of the Corporation”. The times have truly changed in the last decade with all stakeholders having a voice on social media and the old dictum of “just focus on shareholder (short-term) value” can no longer work. See Eric Posner’s article “Milton Friedman was wrong” in the Atlantic.
Trump Victory: Life is local- Business is global
The surprise victory of Donald Trump has brought into sharp focus a big idea for the 21st century. Life is local-Business is global Here are some things to think about from observing “local life” in America: Local Newspapers are alive: In the US only small town newspapers are still around. The regional and national newspapersContinue reading “Trump Victory: Life is local- Business is global”
7 Questions for your Business Model
“A business model is the manner in which you provide value to your customer that is paid for (by whom – is considered in the questions below). You cover your costs and make a profit on a sustainable basis.”
If you are a small business, you rarely think of your business as having a business model. But it does. It does because the moment you have a single paying customer, she is paying for the value you create. It is another matter, if your business makes a profit consistently over the long term. Sustainable profit is why it is important to understand the business model concept.Here is a definition based on the highly cited article by David Teece.
Why nail spas seem to be the only growing(23% since 2007) small business on Main Street USA
If you go to any main street in America, the only small businesses that seems to have proliferated are Nail Spas. In one Connecticut town we counted no less than five nail spas on Main Street, spaced pretty close together. And all this growth since 2007: that is an astounding 23% growth. A lot ofContinue reading “Why nail spas seem to be the only growing(23% since 2007) small business on Main Street USA”
Revisiting the Chicken MahaMac in India and the Big Mac Index
One could not help but check out the Chicken MahaMac at the still very swanky Indira Gandhi International Airport and the meal and bill is pictured. Prices have risen from Rs. 225 to Rs. 295 or about 6% a year from 2011 somewhat less than the average inflation of 7%. See the earlier post IndiaContinue reading “Revisiting the Chicken MahaMac in India and the Big Mac Index”
India 7% growth rate: Ola,Uber and car pooling apps
Over the winter break India was an exhilarating and at times an overwhelming experience. The top growth rate of the world at 7% and young people moving fast in an ancient culture added to the exciting nature of the experience. Here are some examples: The Private Taxi Business is over and Ola and Uber haveContinue reading “India 7% growth rate: Ola,Uber and car pooling apps”
Why build a brand?
All advertising should result in immediate sales is the underlying expectation. The expectation is unrealistic and we try to explain why building a brand is important with these examples.