Interacting with People


Direct open communication with others fosters trust, enhances information flow, and builds stronger relationships. Use following guidelines to increase such communication:

  • Let people know in a timely way about information that affects them. Respond as quickly as possible to any questions they may have.
  • Be aware of the messages you send non-verbally. Communicate a positive, open message to people by facing them and making eye contact (or using other culturally appropriate gestures when in other countries or cultures).
  • To help your employees and others develop their skills, convey positive and constructive feedback. Positive feedback lets people know what they are doing correctly and the behavior you appreciate. Constructive feedback informs people of their ineffective behavior and gives them an opportunity to compensate for or improve the behavior.
  • If conflicting or mixed messages come up in conversation, confront the discrepancy and work with the other person to clarify the misunderstanding.
  • When you receive vague messages, define the issues in concrete terms so that all parties are clear about what is being said.
  • When you need to get a point across in a direct, nonaggressive, fashion, simply say what you think and feel without putting the other person down.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

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Foreign Exchange


An international marketer needs to transact financial transfers across nation lines in order to close deals. The financial transfers from one country to another are made through the medium of foreign exchange.

Foreign exchange is the monetary mechanism by which transactions involving two or more currencies take place. Transacting foreign exchange deals presents two problems. First, each country has its own methods and procedures for effecting foreign exchanges—usually developed by its central bank. The transactions themselves take place through the banking system. Thus, both the methods and procedures of the central bank and commercial banking constraints must be thoroughly understood and followed to compete a foreign exchange transaction.

The second problem involves the fluctuation of  the rates of exchange. Fluctuations in exchange rates are based on the supply and demand of different currencies. The rate of exchange between two countries can fluctuate from day to day. This produces a great deal of uncertainty since a business person cannot know the exact value of foreign obligations and claims.

To appreciate fully the complexities of foreign exchange, a few terms must be understood. Their understanding also will provide a historical perspective on the making of payments across national boundaries. The terms are gold standard, gold exchange standard, gold bullion standard, inconvertible currencies, and hard and soft currencies.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Generating Meaningful Response from Customers


To generate meaningful response from customers, you must be conscious of the following points:

  1. Avoid Criticism: Don’t appear critical in the way you ask questions. Nonverbal messages delivered via tone or body language can change the meaning of your spoken words from positive to negative.
  2. Ask only positively phrased questions: You can ask for the same information in different ways, some more positive than others.
  3. Ask direct questions: You generally get what you ask for. Therefore, being very specific with your request for information can often result in more useful information. It can also save time and effort.
  4. Ask customers what you can do to better serve them: There is no better or easier way to find out what customers want and expect than to ask. They will appreciate it and you’ll do a better job serving them.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

Meeting Management: The Thank You Note


The common thank you note is applicable to large and small meetings. It may be handwritten and should be as informal as your organization style will allow.

If you send thank you notes, your message will stand out in memory. You must be sincere and never, repeat, never, attempt to curry favor by using a thank you note.

Thank you notes may be sent by the group leader or any participant. If you are a participant and wish to send one, only do so if you were honestly impressed by any event. Some examples:

  1. Excellent Presentation: A high-ranking executive of your organization makes a presentation on some aspect of a problem you face. If the presentation was exceptional, send a note, thanking the executive for time spent helping your team.
  2. Clarifying Remarks: A specialist visits long enough to clear up a few technical points. If this was a real contribution to your knowledge, send a note.
  3. Outstanding Work: Someone on the team does an exceptional job. Send a note if it is deserved.

These are only a few examples. More will occur to you as you consider this technique.

The thank you note must be written. A telephone call, while nice and possibly appreciated, will not have the same impact.

The thank you note is a reminder to the thanked individual that your group exists. It will make it easier to get him or her to come back for another meeting, and on return, be in a cooperative mood.

With thank you notes, be sincere; falseness shows. Use it as an expression of earnest thanks and appreciation for a job well done

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

Direct Response


You should, if at all possible, engage in direct marketing. The value to you is enormous. You get to pinpoint your prospects with amazing accuracy. You can be selective in regard to age, race, sex, occupation, buying habits, money spent on past direct mail purchases, education, special interests, family composition, religion, marital status, and geographic location. The list should naturally start with your own customers. From there you can expand it to include people who have recently moved into your area, and people who have recently been married or divorced, or become parents. You can eliminate people who have moved away.

You might engage in a simple direct mailing of postcards to customers, informing them of a sale you will have the next week. They will very much appreciate the early notification and will show their gratitude by purchasing from you. You might also engage a full scale direct mailing, consisting of an outer envelop, a direct mail letter, a brochure, an order form, a postpaid return envelop, and even more.

Whatever you do, the process begins when you decide exactly what it is you wish to offer. How will you structure that offer? Then you must select your mailing list. If you haven’t got the names already, you can purchase them from a list broker. Be sure, you buy a clean, fresh list. You must be certain that you know all  the costs involved: postage printing, writing the mailing, artwork, paper, personalization (individualizing each letter by name and address, and repeat mailing costs. Your gross sales, minus these costs and your production, handling, and shipping costs, will contribute your profits. Be sure you make financial projections and know your break-even point.

In the old days, a direct mail campaign meant a letter. Today it means a letter, two, three or five follow-up letters, perhaps a follow-up phone call or two, and finally, one more direct mail letter. Many entrepreneurs engage in weekly or monthly direct mailings.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

The Adoption Process


The adoption process consists of the mental stages an individual goes through in accepting and becoming a repeat purchaser of an innovation. Marketing communicators play a role in accelerating the rate of new product adoption and thereby increasing the probability of product success. As firms have become more sophisticated marketers, the rate of adoption in consumer markets has increased.

Although consumers are accepting new products more readily than ever, there is still a high percentage of failure in the introduction of new products. Understanding the factors that facilitate or impede successful adoption is crucial to a full appreciation of the role of marketing communications and promotion management in modern marketing.

The adoption process consists of five stages: 1) knowledge, 2) persuasion, 3) decision, 4) implementation, and 5) confirmation. Each stage is necessary precondition to a subsequent stage. Various conditions and characteristics act to increase or retard the innovation-decision process. Among the broad groups of variables that influence the various stages are prior conditions (e.g., the consumer’s previous consumption practices), characteristics of the decision-making unit (e.g., socio-economic characteristics), and perceived characteristics of the innovation (e.g., relative advantages).

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

Making Customers Feel Special


Everyone likes to feel appreciated. By taking the time to recognize their value and by communicating effectively, you can bolster customers’ self-esteem. When customers feel good about themselves as a result of something you did or said, they are likely to better appreciate what you and your organization can offer them. For example, as appreciation for long-time service, you may want to recognize customers as follows: “Mr. and Mrs. so and so, we really appreciate your loyalty. Our records indicate you’ve been a member for over 20 years. In recognition, my boss has asked me to present you with a complimentary weekend stay at ______ and two tickets to see the opening night of _____, along with a coupon for up to $50 toward dinner for two at ____. Please accept these with our compliments.” This type of strategy certainly goes a long way in guaranteeing future loyalty by your customers.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

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