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Showing posts from October, 2013

What 3D Printers mean for US Healthcare

When technology like the 3D medicine printer's around, there is no way you can grab ruthless competition by its horns. What does this mean for the US healthcare industry, and related businesses worldwide? Taking the 30-year old 3D printing concept to the masses is becoming easier today, but does it scare pharmacies and labs? It's again one of those situations that call for changes to adapt with evolving markets. We know well that business data can become obsolete in months, but when revolutionizing technology like this is around, changes can happen overnight! The lucrative business channels you have been using, can change in terms of popularity in a matter of days, not even weeks. And that's what's being talked about in the corridors of labs, research facilities, and medical schools. Doing business in an environment, where the end customer is capable of making almost 100% of what he or she needs, requires fundamental changes. Whether it is pricing, carte

False Information - your fault?

Hurrying under pressure is a common business mistake. Even the top level does it without anybody above. What's the pressure all about? Markets are evidently a source of pressure - to perform, outperform, and come up with a solution for the masses before anyone else does. Even if you are not catering to large markets, small markets may have a make or break situation for you. Mindless estimations, faults under pressure, and careless decisions can ruin your company. Most of these decisions are based on inaccurate facts, which may be so deeply rooted in your plan, that there is hardly any way of telling. Market information can be faulty very easily. Although at the macro level mistakes are easy to catch, the premise of such information is often at the micro level. Information collected from consumers can be old, irrelevant, and misleading. So here's what: if you had the correct market data, the chances of building up towards a comprehensive report about a market segment

Barry Schwartz - a Seller? Or a Buyer?

The paradox of choice: It is evident from some advanced studies in economics and population behavior, that choice and freedom have a correlation, but sometimes it can be a skewed one. For example, referring to my earlier post  on choice and narrowing down on items, a difficult argument is imminent. Here's the catch - What Barry Schwartz has to say, is a matter of significance if you are selling anything. And as a buyer, you can really find his wisdom a savior. Can choice ever be too much? Well, it depends on you if you are buying. However, for the seller, it is about having the greatest variety, but is that wise? I am an intelligent buyer - because I DON'T GET FLUMMOXED BY CHOICE (I KNOW WHAT I WANT). So, when I walk in to a jeans store, I may look for a classic fit, and be showered with a gamut of choices; but if they don't have what I want, I simply walk out. A stubborn customer? Debatable. The seller's problem: Every seller feels secure by stocking

Let's Get this Straight - Big Data is not really a revolution

Hello friends, It's been a while we've really communicated. However, let's get this straight. Knowing about your customer's up close is not really a bad thing. Especially when they are okay to reveal. Decency in business means two things -  Making honest and transparent deals Being compliant with the set expectations Privacy is not so much of a priority unless someone has really asked for it. That's all.  Being decent citizens, it is hard to embrace this at the drop of a hat. However, it is really the way it is. Ever since you were born, every successful business in your neighborhood had a quiet interest about you. And now, you, your family, and your neighbors, no matter where you are, are a subject of interest to businesses that will prosper in the coming years. It's up to you - whether you block your information from going their way, or remain selectively lenient. By being selectively lenient, you could be helping them serve you better. B

Prying v/s Constructive Investigation

Big Data is grand. It is big enough to cause an overwhelming feeling the moment you begin to understand its scope. Even moral discussions around it find validation because of its scope to infringe on areas and other factors of daily life. The question consumers are beginning to ask is - what the heck is the point in trusting someone who knows how to pry, and does it for their own benefit? Prying v/s Constructive Investigation Here's what: When a consumer walks into a digitally-run store today, which is virtually everywhere, he or she is aware about the outline of information they are giving away for convenient trading. Now, you cannot deny that you simply give away your bank account number, details of items purchased, your name, perhaps even how many family members you have. If this seems to be scaring you, I am sorry you are eons away from the now. What big data also does is support the "true caller" facility. Is that dangerous? Well, that's what any techn

Time to show some Expertise!

As a marketer, you can never offer too many choices... Watch this video and continue reading. The idea of you getting confused about the choices at an apparel store is kind of obvious. So imagine someone who is given a choice between MPO/SEO/Prospecting/Lead Generation/Demand Generation/etc. And the bloke is a techie! The best thing for a buyer is to know what is the best choice first, and advices are not always vices! Especially if you have a good reputation in the market. So here's the advice of the week - STOP giving your customers a gamut of choices, and show some EXPERTISE in strategizing!

Tired of Big Data Bullshit?

Your Homework - First Gain the Trust

How far can you get with digital marketing if your brand is all messed up - unrecognized, unevenly branded, lacks concept, and ABOVE ALL, lacks the trust of the masses... One has to understand that a technology or healthcare brand cannot survive with the brand having gained enough credibility. As a result, there have been a large number of trust building campaigns coming from the tycoons if you remember ads in the late 1990s and the last decade. They were frequently seen flying around in magazines, and that's what adds to the share value. That's an immense advantage for companies banking on public investment to build, test and sell advanced technology-driven solutions. The crux of any marketing failure lies in brandishing a brand that has gained very little or no trust as yet. You may spend thousands of dollars on a single advertising collateral, but nobody really gives a damn whether or not you have some swanky solution... unless it can be blindly trusted. So here'

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