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Self-Branding for Professional Success: An In-Depth Discussion

10 Jan

Want to learn more about branding and its features—including the evolution of branding and brand positioning? Want to learn more about how to create and nurture your own self-brand to enhance your professional growth opportunities? If you answer yes to either question, then this article is “must reading.”

The first part of the article (pages 1-10) covers the evolution of branding concepts, brand positioning, brand equity, the role of communications (including new media), and corporate branding.

The second part of the article (starting on the bottom of page 10) focuses on such aspects of self-branding as these: the factors impacting one’s professional self-brand, steps in self-branding, personal branding SWOT analysis, a career ladder approach to self-branding, self-brand management and re-invention, and creating and sustaining an online self-brand.

To enhance the discussion, there are several practical and colorful figures that illustrate the keys to superior professional self-branding.

[Click the IN logo at the bottom of the slideshow to access and download a PDF version of the paper.]

 

 

2017 Global Economics Interview with Hof Prof

5 Jan

Hofstra University’s Zarb School of Business Distinguished Professor Joel Evans was recently interviewed by the award-winning Hofstra radio station WHRU about the upcoming 2017 global economy. Here is that EIGHT-minute interview. The views are those of Professor Evans and not Hofstra University.

[Please pardon all the sighs. Professor Evans is not in a state of distress, only in a state of bronchitis. 🙂 ]

 

 

Customer Service Means a Good Return Policy

3 Jan

Now that the 2016 holiday shopping season is over (except for spending gift cards), a vital question to consider from both the customer’s and retailer’s perspective is: What kind of return policy best serves my needs? For many consumers, the answer may be: an unlimited time frame to return a purchase. For many retailers, the answer may be: holding down costs as much as possible. In either case, the return policy is a key element of customer service.

These are some return practices disliked by consumers: [Note: Many good retailers do not follow these practices.]

  • An overly short time period to make a return for a full refund.
  • The amount of the refund for a gift item when the gift recipient does not have a receipt.
  • A discounted refund merely for opening the product’s box.
  • The time to process a refund for a return.
  • Items excluded from refunds, such as computer software.
  • The shipping fee to return a purchase made online.

 
Two of the acknowledged leaders are Amazon, whose return policy is easy to use and consumer friendly, and L.L. Bean, whose return policy has received various honors and awards.

As a prelude to a YouTube video about returns at L.L. Bean, Business Insider’s Sam Rega recently stated: Here’s what makes L.L.Bean’s ‘100% satisfaction guarantee’ the best return policy of any retailer.”
 

 

What Are the Toughest Languages to Translate?

31 Dec

As we approach the end of 2016, we have presented some of the most popular of the nearly 1,500 posts that have appeared on Evans on Marketing. Today, to finish 2016, we discuss how difficult it is compete in multiple languages.

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When firms go global, language translation becomes more complex and time-consuming.

Dana Translation notes that:

“In today’s global environment and economy, interesting and important come in many languages. People and organizations often need to unlock the meaning within those documents with a perfect translation that conveys the intent of the document.”

“Many people don’t realize that languages don’t have a direct word-to-correlation, so a good translation requires an understanding of the nuances and shades of meaning in each language. Rules of grammar and the way people express themselves using figures of speech vary from culture to culture, and words with the same meaning may have different connotations that can slant the feeling that a translation conveys if chosen unwisely. That’s why machine translations so often go wrong, and why it pays to have a comprehensive translation service on your side.”

 

According to Dana, these are the hardest languages to translate.

 

Congratulations Hofstra Marketing

26 Dec

The Marketing Faculty in the Zarb School of Business at Hofstra University is proud that our programs are included in TWO new 2017 rankings by College Choice, which “is an independent online publication dedicated to helping students and their families find the right college. We publish rankings and reviews that make choosing the best college easier, as well as resources to help students get into, pay for, and thrive at the college of their choice.”
 

Top 50 Bachelor’s in Marketing Programs for 2017

“Marketing managers—as well as their close cousins, advertising and promotions managers—generate interest in products and services. They work with just about everyone in an organization to do one thing really well: getting the word out! That’s not always as easy as it sounds. In order to get the word out, marketers have to understand what their promoting as well as the demand that’s out there for it—or in some cases, isn’t out there at all!There’s also the question of competition—in order to succeed, you have to know your enemy, and marketers will have intimate knowledge of their competitors’ products and services as well in order to best position themselves for success. They are also media wizards who use all sorts of mediums and platforms to get their message out.”

“There’s good news for the future of this profession, too. Nearly all sectors of marketing are slated to grow between 5 and 9 percent over the next several years according to the Bureau of Labor and Statistics, and pay continues to look rewarding with median annual wages holding steady between $95,000 and $130,000 per year. Not too shabby!”

Number 36: “Through Hofstra’s Frank G. Zarb School of Business, students can earn a Bachelor of Business Administration with a major in Marketing. Dual degree programs are also available, allowing students to earn a bachelor’s and a master’s degree at an accelerated pace. Regardless of the degree program, Hofstra’s Department of Marketing & International Business provides exposure to award-winning faculty, internships with well-known companies in a variety of industries, and study abroad options.”

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Top 35 Master’s in Marketing Programs for 2017

“From building an entire brand ethos to developing a network of relationships with people equally committed to innovative and sustainable progress, a career in marketing has literally innumerable possibilities. The degree can be applied to nearly every aspect of the business industry as well as the non-profit, government, health, and education sectors. Whatever your passion, marketing can be easily combined with it.”

“The Bureau of Labor Statistics anticipates a 19 percent growth in marketing research analysis in the next ten years, and a 9 percent growth in marketing management. On average, those with bachelors degrees in marketing make around $62,000 annually; however, for those who go on to get a masters degree—either in marketing specifically, or a MBA with specialization in marketing—those numbers easily double. In juxtaposing the job growth with the return on investment, it becomes clear that obtaining a graduate degree in marketing will serve you now and in the long run.”

Number 29: “Marketing graduate students, working toward a Masters of Science in Marketing, at Hofstra University take classes on distribution, internet marketing, social media utilization, marketing across cultures, analytics, customer behavior, innovation and new product marketing, business-to-business marketing, and sustainability marketing. Most notably, Hofstra students are prepared to become leaders in middle- to upper-level positions in an range of business settings. The program at Hofstra is unique in its emphasis on diversity and global perspective. Students are taught to communicate effectively, whatever the setting, to work well in teams, and to evaluate the social and ethical responsibilities of marketing in business organizations. They are also able to work and study outside of the traditional classroom and participate in several of real-world projects.”

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The Psychology of Color

21 Dec

As we approach the end of 2016, we are going to present some of the most popular of the nearly 1,500 posts that have appeared on Evans on Marketing. Today, we cover how colors affect consumers’ product perceptions.
 

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From a marketing perspective, we tend to believe “perception is reality” — which means that what shoppers believe about product features is more important than the reality of those features.

With this in mind, Rachel Griffith has written a fascinating article for Fast Company on the impact of color on consumer perceptions. As she notes:

“When it comes to identifying your brand, your logo is probably the first thing your customers will think of. While honing the narrative and message behind your logo should of course be your primary concern, research suggests that your logo’s design — and specifically its colors — have more bearing on your customers’ opinions than you might think. Neuroscientist Bevil Conway, who has focused his recent research almost entirely on the neural machinery behind color, believes the science behind color processing to be very powerful and completely underexploited.”

“According to research complied by web design and marketing company WebPageFX, people make a subconscious judgment about a product in less than 90 seconds of viewing, and a majority of these people base that assessment on color alone. In fact, almost 85% of consumers cite color as the primary reason they buy a particular product, and 80% of people believe color increases brand recognition.”

To learn more about the perceptions of people with regard to red, yellow, blue, orange, green, and purple, click on the infographic from Fast Company.

 


 

Best Business Decisions Ever?

19 Dec

As we approach the end of 2016, we are going to present some of the most popular of the nearly 1,500 posts that have appeared on Evans on Marketing. Today, we cover our MOST popular post ever.

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In 2012, a book titled The Greatest Business Decisions of All Time was published. This book is by Verne Harnish (CEO of Gazelles) and the editors of Fortune.

As Fortune’s Brian Dumaine said:

“Once in a great while a leader makes a truly game-changing decision that shifts not only the strategy of a single company but how everyone does business as well. These big decisions are counter-intuitive — they go against the conventional wisdom. In hindsight, taking a different direction may seem easy, but these bet-the-company moves involve drama, doubt, and high tension. What made Apple’s board bring back Steve Jobs to the company?”

“What motivated Henry Ford to double the wages of his autoworkers, and how did that change the American economy for the next century? Why did Intel decide to spend millions to brand a microchip? The following stories, adapted from the new book The Greatest Business Decisions of All Time, provide the background to these pivotal moments. You’ll learn how these groundbreaking decisions have shaped the thinking of today’s top leaders.”

 
Click the image to read the introduction of the book. [Please note: Since the publication of the original post, Fortune has removed its excerpts. However, the book introduction may be accessed from Amazon. After clicking the book cover below, wait for the pages to fully load; then scroll down to the introduction (which starts at p. 27). It is VERY interesting.]


 
What other “big” business decisions would YOU cite besides those noted?
 

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