FEATURE PAPER

Leading From the Edges: The Case of a Small Sick Enterprise

This paper was written by Debabrata Sen, RockenjitSinha, Tirtheshwar Banerjee and Sarath Chandra Shenoi. This paper was presented at the 2012 ICSB Conference in Wellington, New Zealand.

Abstract

Dalvi, a marketing executive, turned a businessman bought on auction a packaging box manufacturing factory borrowing Rs. 18 lakhs from a bank at 18% interest. Since then events began to go against him leading to the closure of the factory. The Bank made some nominal concessions which were too small and too late to make any difference. In the meantime interest payments were piling up even during the time the factory was closed. The factor causing a host of troubles for Dalvi was his decision making process. We noticed the primary reason behind the troubles was his emotions which played critically in his business decisions. He approached the Industry Department of the government for assistance. The government reviewed the problems and identified possible solutions.

(Read Entire Paper)

TIP OF THE WEEK

How Customers Decide to Buy

How will you figure out who the potential customers are for your business? It is critical to understand not only who is in your target market, but how they will purchase you product (or service).

Step One. If you have developed a product or service, ask yourself what consumer need it will serve. Arm & Hammer turned this marketing question into a gold mine by developing its simple baking-soda powder into toothpaste, air and carpet fresheners, and deodorants.

Step Two. Think about who might actually buy your product. Remember that the people who use a product are not always the purchasers. Mothers generally buy children's clothes, so, if you are making children's playsuits, they should offer features/benefits that appeal to mothers. They could be marketed as very easy to clean, for example.

Step Three. Analyze the buying process that will lead customers to your product.

1. Awareness. The customer realizes a need. Advertising is designed to make consumers and business customers aware of potential needs for everything from dandruff shampoo to office supplies to automobiles.

2. Information Search. The customer seeks information about products that could fulfill the need. Someone looking for a multivitamin might pick up a brochure on the counter of the local health food store, or simply look on the shelves of a supermarket. A retailer might search a business-to-business phone directory for sign companies.

3. Evaluate Alternatives. Once information is gathered on a single product, the customer may want to examine alternatives before making a purchasing decision. The individual looking for a multivitamin might check out what's available in the health food store, and compare the price and content with the more commercial brands found in the local supermarket or drug store. The business owner might get several quotations on business signs that she needs.

4. Decide to Purchase. The first purchase is really a test; the customer is trying your product to see how well it performs (or testing the quality of your service).

5. Evaluation of Purchase. If your product or service is satisfactory, the customer may begin to develop loyalty to your business and tell others about it, as well. Now, how can you keep this customer for life?

ANNOUNCEMENTS

USASBE

USASBE will be hosting their 2013 Conference during January 10-13, 2013 in San Francisco, CA. For more information,click here.

Allied Academy

Allied Academy will be hosting 2 upcoming conferences soon. The Summer International Internet Conference will be held during July 24-31, 2012. And the Fall International Conference will be held during October 10-12, 2012 in Las Vegas. For more information,click here.

New SBI Website

We are excited to inform you the new SBI website is Live and Ready!

Now that the website is up and running, there are a couple of housekeeping items that need to be addressed. Please read below:

Password: One of the key features of the new website is that it allows members to set up a personal password..Don't worry if you forget it you can also reset it. Please click the following link to reset your password: http://smallbusinessinstitute.biz/Sys/ForgottenPasswordRequest.

Profile: Another one of the key features is that you will now have access to update your profile information at any time. Please review your profile and make changes as needed.

E-mail: Due to the change of website providers the @smallbusinessinstitute.biz emails are no longer active. If you need to reach the board members or administrative staff you can find contact information on the CONTACT US tab or click here.

As Mike Harris stated in his announcement earlier this week, we want to do a better job of promoting the success of our members. Please send us your recent accomplishments, articles or good news, so we can share it with all SBI members.

We invite you to visit the new and improved website http://smallbusinessinstitute.biz/, tell us what you think!

SBIJ Journal

The Small Business Institute® Journal has just published its latest issue at www.sbij.org. We invite you to review the Table of Contents here and then visit our web site to review articles and items of interest.

International Journal of Business and Social Science

The International Journal of Business and Social Science is now taking manuscript submissions. All manuscripts must be submitted electronically through the e-mail to the editor at editor@ijbssnet.com, or editor.ijbss@hotmail.com. For more information, click here.

ICSB 2012 Public Agencies Forum

How can government bodies - such as policy departments, advisory services, regulators and service agencies - develop the most effective means of engagement, communication and information sharing with small businesses?

CONFERENCES

CALLS FOR PAPERS

SBANC STAFF

Main Office Phone:(501) 450-5300

Don B. Bradley III, Executive Director of SBANC & Professor of Marketing - Direct Phone:(501) 450-5345

Matt Yancey, Development Intern