This article gives seven useful tips to marketers and sellers about how they can keep and tease customers in days of recession.
1. Redefine value
Customers can look at a price in different ways, some look at the price per piece, some per ounce and some look at their monthly consumption cost. Someone who hasn’t a lot of money is tend to buy one piece of something (ex. a bottle coca-cola) while most of the time, there are packages with six bottles and that costs a dollar more but the total package ends up cheaper because you pay more for one bottle alone than when you buy a package of six bottles. Marketers can for example downsize the packages.
2. Understand your customers
This tip means that customers can respond in several ways to higher prices, so you have to make sure that you can make a customer think that your products are the best and that they respond well and that they don’t switch to another brand.
3. Use promotions
In times of recession, more consumers will look for promotions.
4. Unbundle
Make it easier for the consumers and look what they truly need.
5. Monitor trade terms
Use the last-in, first-out basis to ensure increases in your realized selling prices and not in your input costs.
6. Invest in market research
They analysis the behavior, the product usage and the price sensitivity of the consumers. You can talk face to face to the consumers to understand their needs and in this way you can see and hear how they think and what they do whit price inflation.
7. Increase relevance
You have to convince the consumers that they need your product and that they don’t have to cut back their expenditures on your products but on others.
Marketers and sellers have to make strong brands to keep their consumers, consumers are more loyal to strong brands. When your brand is too weak, you risk to lose your consumers because they will chose a cheaper variant like a private label.
I think these tips are very useful and true because in times of recession you look more at prices and you’re more price aware. When the economy is good, you can buy more but with the inflation you have to make choices, you can buy less or you chose for a cheaper variant. So when there are promotions on your usual mark, you will buy it but when there are now promotions and you think it’s too cheap for now, you don’t buy it and look for another brand or you leave it for what it is because it’s something you don’t really need.
You can find the article on: http://losangeles.bizjournals.com/losangeles/othercities/orlando/stories/2009/10/05/smallb2.html?b=1254715200^2188441&s=smc:4#
Greet!
Livine
maandag 5 oktober 2009
Evelien: Bail out for Nigerian banks
One of today’s most spoken topics, the credit crunch or the financial crisis, is probably the biggest global fiasco since the last war.
When the American Federal Reserve (FED) tried to avoid recessions by pumping more and more money in the economy and offered a low interest, this eventually led to the credit crunch in the summer of 2007.
Nowadays globalisation still grows and this not only what concerns the industry but unfortunately also the financial world. The credit crunch, which started in America, soon infected the whole world.
In imitation of the American and many European governments, the Nigerian government had to bail out some of its 24 banks. The article ‘Nigeria bails out four more banks’ (source: http://www.bbc.co.uk/) teaches that even countries in the African continent have to deal with miscalculations of some banks management.
The governor of the Nigeria Central Bank Mr. Lamido Sanusi tried to clean up the system by removing the heads of Equitorial Trust, Spring Bank and Bank PHB. So, in August, Mr. Sanusi fired the heads of these banks and put in a total of 400 billion naira into Afribank, Intercontinental Bank, Finbank, Oceanic Bank and Union Bank. This measure was taken because they were all found to have very low cash reserves. Just like in America the Nigerian banks had run up bad loans.
Due to the Nigeria’s Economic and Financial Crimes Commission (EFCC), nearly $ 300 million of bad debts has been recovered, but billions are still outstanding.
I believe that just like in the rest of the world, there should be a healthy balance between giving loans and pay-backs capacities of the investors. In that way the financial risks are limited. Global you can say that there is still a lot to do to get rid of the debts and to get the economy again on a higher level.
By Evelien Van Gaeveren
link used article: http://news.bbc.co.uk/2/hi/business/8287864.stm
When the American Federal Reserve (FED) tried to avoid recessions by pumping more and more money in the economy and offered a low interest, this eventually led to the credit crunch in the summer of 2007.
Nowadays globalisation still grows and this not only what concerns the industry but unfortunately also the financial world. The credit crunch, which started in America, soon infected the whole world.
In imitation of the American and many European governments, the Nigerian government had to bail out some of its 24 banks. The article ‘Nigeria bails out four more banks’ (source: http://www.bbc.co.uk/) teaches that even countries in the African continent have to deal with miscalculations of some banks management.
The governor of the Nigeria Central Bank Mr. Lamido Sanusi tried to clean up the system by removing the heads of Equitorial Trust, Spring Bank and Bank PHB. So, in August, Mr. Sanusi fired the heads of these banks and put in a total of 400 billion naira into Afribank, Intercontinental Bank, Finbank, Oceanic Bank and Union Bank. This measure was taken because they were all found to have very low cash reserves. Just like in America the Nigerian banks had run up bad loans.
Due to the Nigeria’s Economic and Financial Crimes Commission (EFCC), nearly $ 300 million of bad debts has been recovered, but billions are still outstanding.
I believe that just like in the rest of the world, there should be a healthy balance between giving loans and pay-backs capacities of the investors. In that way the financial risks are limited. Global you can say that there is still a lot to do to get rid of the debts and to get the economy again on a higher level.
By Evelien Van Gaeveren
link used article: http://news.bbc.co.uk/2/hi/business/8287864.stm
zondag 4 oktober 2009
Corporate finance
Corporate Finance
MIT Careers Office ♦ 12-170 ♦ (617) 253-4733 ♦ careers.mit.edu
Overview
Corporate finance is a broad heading encompassing accounting, commercial and investment
banking, financial services, investment management, insurance, venture capital, and corporate
development and strategic planning. If you enter one of these fields, your job will center around
helping companies find money to run and develop their businesses, manage their assets, acquire
other firms, and plan for their financial future. A person’s experience in corporate finance depends
on the size and complexity of the company for which they work, but jobs are relatively stable and
include many benefits, including high salaries, travel, and numerous networking opportunities.
Experience, Education, and Skills
As an undergraduate, the best way to prepare for a career in corporate finance is by taking relevant
business courses such as financial management and economics. An internship will allow you to
gauge your true interest in the field and gain hands-on experience – not to mention add significant
value to your résumé.
Many firms hire outstanding undergraduate students right out of college, and some feature training
programs that rotate new hires between divisions. If you excel and develop a good working
relationship with the manager overseeing the division of your choice, you might be assigned there.
People with significant investment banking experience also stand a good chance of being hired for
a corporate financial development position. That being said, an advanced degree or certification is
enormously helpful for promotions in corporate finance, especially if you plan to be in the field for
the long haul. An MBA, CPA, or CFA is necessary if you aspire to senior budgeting, planning, or
strategy positions.
Additionally, success in this field requires strong business acumen,
mathematical prowess, adaptability, and a knack for problem-solving
and critical thinking. Detail-oriented people are needed here, as
success depends on exactitude.
Job Search
There are a number of ways to improve your chances in the
interview process. Be prepared to talk about your computer skills;
fluency with Excel, VBA macros, and Reuters and Bloomberg
stations are necessary. Know why you want to work in the particular
finance field you’re interviewing for and what distinguishes the firm
you’re interviewing with from its competitors. Do your homework
to understand what’s going on with the firm and the industry. Be
engaged and ask targeted questions. (Avoid ones you should already
know the answer to.) The best way to get a job is through on-campus recruiting. Be sure to check
MIT Careers Office and MonsterTRAK postings frequently during the fall and spring recruiting
seasons to optimize your chances. And if you land an interview, stress your quantitative and
analytical abilities as well as your communication skills. Careers Office staff members are
available for individualized appointments, mock interviews, and advising throughout the
recruitment process.
EMPLOYERS THAT HIRED
THE MOST MIT GRADUATES
IN 2006
1. MIT
2. Goldman Sachs
3. McKinsey
4. Boston Consulting Group
5. Microsoft
6. Morgan Stanley
7. Lehman Brothers
8. Bain & Co.
9. JPMorgan
10. Google
For more details, see the 2006
MIT Graduating Student
Survey at careers.mit.edu.
Salary
MIT Graduating Student Survey
http://web.mit.edu/career/www/infostats/graduation.html
Salary.com http://www.salary.com/salary/layoutscripts/sall_display.asp
SalaryExpert.com http://www.salaryexpert.com
Career Journal.com http://www.careerjournal.com/salaryhiring/
Exploration Resources
Books
Hedge Me: The Insider's Guide -- U.S. Hedge Fund Careers, by Claude
Schwab. Lynx Media, Inc., 2004.
Options, Futures, and Other Derivatives, by John Hull. Prentice Hall, 2005.
Econometric Analysis, by William H. Greene. Prentice Hall, 2007.
Dynamic Asset Pricing Theory, by Darrell Duffie. Princeton University Press, 2001.
Energy and Power Risk Management: New Developments in Modeling, Pricing and Hedging by Alexander
Eydeland and Krzysztof Wolyniec. Wiley, 2002.
Careers in Finance, by Trudy Ring. McGraw-Hill, 2004.
Corporate Financial Management, by Douglas R. Emery and John D.
Finnerty. Prentice Hall, 1997.
Web sites
Careers in Finance http://www.careers-in-finance.com
eFinancialCareers.com http://www.efinancialcareers.com
FinCareer.com http://www.fincareer.com
Google Finance http://finance.google.com/finance
International Finance Corporation http://www.ifc.org
Monster.com: Finance http://finance.monster.com
The Economist http://www.economist.com/finance
Wetfeet.com: Corporate Finance
http://www.wetfeet.com/cb/schools/careerprofiles.asp?miid=&careerpk=10&pageid=1&dpid=50
MIT Resources
Alumni Association http://alum.mit.edu/
• Good resource for networking with alumni and locating internship, externship, and job leads.
Network of Sloan Undergraduate Women http://web.mit.edu/nsuw/www/resources.html
Sloan Undergraduate Management Association http://web.mit.edu/suma/
Sloan Career Development Office Finance Resources Webpage
source: http://web.mit.edu/career/www/infostats/sloan/field.html#finance
Summary
What is corporate finance?
Corporate finance contains accounting, commercial and investment banks, financial service, investment management, assurance, risk capital, corporate development and strategic planning.
Experience of someone in corporate finance depends on the size and complexity of the company.
Jobs in corporate finance have a lot of advantages such as: high salaries, they have the opportunity to travel and they offer networking opportunities
If you want to work in corporate finance, what must you do?
The best way to prepare for a career in corporate finance is by taking relevant business courses such as financial management and economics. People with significant investment banking experience have also a good chance of being employed in corporate finance. Finally, an advanced degree or certification is very helpful. An important way to get a job in corporate finance is through on-campus recruiting.
What are the qualifications for the job in corporate finance?
You have a strong business acumen, mathematical prowess, adaptability, and a knack for problem-solving and critical thinking. In corporate finance detail-oriented people are needed.
Good luck depends on accuracy.
How can you improve your chance in the interview process?
- Be prepared to talk about your computer skills namely the fluency with Excel, VBA macros etc.
- Know why you want to work in the particular financiering field
- Understand what happens in the enterprise and the industry and know what distinguishes the firm where you apply for a job from its competitors
There are also books and other websites about corporate finance.
My opinion
The text is well structured. It’s interesting because a lot of people don’t know what corporate finance is exactly. That goes for me too. First there is a general explanation of what corporate finance is. Next, the author explains what kind of experience, education and skills is needed in corporate finance. That gives a better idea of what kind of abilities you need to work in corporate finance. The article is also practical. It explains how people in corporate finance are recruited and what you must do if you want to apply for a job. The article gives advice about what you must say in job interviews. I think that is helpful, not only for jobs in corporate finance, but for other jobs as well. For instance,
I think it is important that you can explain in a job interview why you want to work for a particular company and in what way the company is different from its competitors. If you do that, I believe you make a good impression during the interview. This is the kind of advice that is relevant for applying for all kinds of jobs, not only in corporate finance.
From Annelies
MIT Careers Office ♦ 12-170 ♦ (617) 253-4733 ♦ careers.mit.edu
Overview
Corporate finance is a broad heading encompassing accounting, commercial and investment
banking, financial services, investment management, insurance, venture capital, and corporate
development and strategic planning. If you enter one of these fields, your job will center around
helping companies find money to run and develop their businesses, manage their assets, acquire
other firms, and plan for their financial future. A person’s experience in corporate finance depends
on the size and complexity of the company for which they work, but jobs are relatively stable and
include many benefits, including high salaries, travel, and numerous networking opportunities.
Experience, Education, and Skills
As an undergraduate, the best way to prepare for a career in corporate finance is by taking relevant
business courses such as financial management and economics. An internship will allow you to
gauge your true interest in the field and gain hands-on experience – not to mention add significant
value to your résumé.
Many firms hire outstanding undergraduate students right out of college, and some feature training
programs that rotate new hires between divisions. If you excel and develop a good working
relationship with the manager overseeing the division of your choice, you might be assigned there.
People with significant investment banking experience also stand a good chance of being hired for
a corporate financial development position. That being said, an advanced degree or certification is
enormously helpful for promotions in corporate finance, especially if you plan to be in the field for
the long haul. An MBA, CPA, or CFA is necessary if you aspire to senior budgeting, planning, or
strategy positions.
Additionally, success in this field requires strong business acumen,
mathematical prowess, adaptability, and a knack for problem-solving
and critical thinking. Detail-oriented people are needed here, as
success depends on exactitude.
Job Search
There are a number of ways to improve your chances in the
interview process. Be prepared to talk about your computer skills;
fluency with Excel, VBA macros, and Reuters and Bloomberg
stations are necessary. Know why you want to work in the particular
finance field you’re interviewing for and what distinguishes the firm
you’re interviewing with from its competitors. Do your homework
to understand what’s going on with the firm and the industry. Be
engaged and ask targeted questions. (Avoid ones you should already
know the answer to.) The best way to get a job is through on-campus recruiting. Be sure to check
MIT Careers Office and MonsterTRAK postings frequently during the fall and spring recruiting
seasons to optimize your chances. And if you land an interview, stress your quantitative and
analytical abilities as well as your communication skills. Careers Office staff members are
available for individualized appointments, mock interviews, and advising throughout the
recruitment process.
EMPLOYERS THAT HIRED
THE MOST MIT GRADUATES
IN 2006
1. MIT
2. Goldman Sachs
3. McKinsey
4. Boston Consulting Group
5. Microsoft
6. Morgan Stanley
7. Lehman Brothers
8. Bain & Co.
9. JPMorgan
10. Google
For more details, see the 2006
MIT Graduating Student
Survey at careers.mit.edu.
Salary
MIT Graduating Student Survey
http://web.mit.edu/career/www/infostats/graduation.html
Salary.com http://www.salary.com/salary/layoutscripts/sall_display.asp
SalaryExpert.com http://www.salaryexpert.com
Career Journal.com http://www.careerjournal.com/salaryhiring/
Exploration Resources
Books
Hedge Me: The Insider's Guide -- U.S. Hedge Fund Careers, by Claude
Schwab. Lynx Media, Inc., 2004.
Options, Futures, and Other Derivatives, by John Hull. Prentice Hall, 2005.
Econometric Analysis, by William H. Greene. Prentice Hall, 2007.
Dynamic Asset Pricing Theory, by Darrell Duffie. Princeton University Press, 2001.
Energy and Power Risk Management: New Developments in Modeling, Pricing and Hedging by Alexander
Eydeland and Krzysztof Wolyniec. Wiley, 2002.
Careers in Finance, by Trudy Ring. McGraw-Hill, 2004.
Corporate Financial Management, by Douglas R. Emery and John D.
Finnerty. Prentice Hall, 1997.
Web sites
Careers in Finance http://www.careers-in-finance.com
eFinancialCareers.com http://www.efinancialcareers.com
FinCareer.com http://www.fincareer.com
Google Finance http://finance.google.com/finance
International Finance Corporation http://www.ifc.org
Monster.com: Finance http://finance.monster.com
The Economist http://www.economist.com/finance
Wetfeet.com: Corporate Finance
http://www.wetfeet.com/cb/schools/careerprofiles.asp?miid=&careerpk=10&pageid=1&dpid=50
MIT Resources
Alumni Association http://alum.mit.edu/
• Good resource for networking with alumni and locating internship, externship, and job leads.
Network of Sloan Undergraduate Women http://web.mit.edu/nsuw/www/resources.html
Sloan Undergraduate Management Association http://web.mit.edu/suma/
Sloan Career Development Office Finance Resources Webpage
source: http://web.mit.edu/career/www/infostats/sloan/field.html#finance
Summary
What is corporate finance?
Corporate finance contains accounting, commercial and investment banks, financial service, investment management, assurance, risk capital, corporate development and strategic planning.
Experience of someone in corporate finance depends on the size and complexity of the company.
Jobs in corporate finance have a lot of advantages such as: high salaries, they have the opportunity to travel and they offer networking opportunities
If you want to work in corporate finance, what must you do?
The best way to prepare for a career in corporate finance is by taking relevant business courses such as financial management and economics. People with significant investment banking experience have also a good chance of being employed in corporate finance. Finally, an advanced degree or certification is very helpful. An important way to get a job in corporate finance is through on-campus recruiting.
What are the qualifications for the job in corporate finance?
You have a strong business acumen, mathematical prowess, adaptability, and a knack for problem-solving and critical thinking. In corporate finance detail-oriented people are needed.
Good luck depends on accuracy.
How can you improve your chance in the interview process?
- Be prepared to talk about your computer skills namely the fluency with Excel, VBA macros etc.
- Know why you want to work in the particular financiering field
- Understand what happens in the enterprise and the industry and know what distinguishes the firm where you apply for a job from its competitors
There are also books and other websites about corporate finance.
My opinion
The text is well structured. It’s interesting because a lot of people don’t know what corporate finance is exactly. That goes for me too. First there is a general explanation of what corporate finance is. Next, the author explains what kind of experience, education and skills is needed in corporate finance. That gives a better idea of what kind of abilities you need to work in corporate finance. The article is also practical. It explains how people in corporate finance are recruited and what you must do if you want to apply for a job. The article gives advice about what you must say in job interviews. I think that is helpful, not only for jobs in corporate finance, but for other jobs as well. For instance,
I think it is important that you can explain in a job interview why you want to work for a particular company and in what way the company is different from its competitors. If you do that, I believe you make a good impression during the interview. This is the kind of advice that is relevant for applying for all kinds of jobs, not only in corporate finance.
From Annelies
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