Brand Awareness everywhere

Brand awareness is the extent to which a brand is recognized by potential customers, and is correctly associated with a particular product. Expressed usually as a percentage of target market, brand awareness is the primary goal of advertising in the early months or years of a product's introduction.

Brand Awareness definition is the likelihood that consumers recognize the existence and availability of a company's product or service. Creating brand awareness is one of the key steps in promoting a product.

Brand awareness is related to the functions of brand identities in consumers’ memory and can be reflected by how well the consumers can identify the brand under various conditions. Brand awareness includes brand recognition and brand recall performance. Brand recognition refers to the ability of the consumers to correctly differentiate the brand they previously have been exposed to. This does not necessarily require that the consumers identify the brand name. Instead, it often means that consumers can response to a certain brand after viewing its visual packaging images. Brand recall refers to the ability of the consumers to correctly generate and retrieve the brand in their memory.

Brand awareness is an important way of promoting commodity-related products. This is because for these products, there are very few factors that differentiate one product from its competitors. Therefore, the product that maintains the highest brand awareness compared to its competitors will usually get the most sales.

Tangible vs Intangible Assets

Tangible goods are material assets that can be perceived by human senses while intangible goods are those goods which cannot be perceived by human senses. Examples of tangible goods are raw materials, money and jewellery while intangible goods are knowledge, information and capacities. Both tangible and intangible goods are needed for the growth of a business.

Tangible deliverables

Tangible deliverables are all those that directly support production and delivery of goods, services, and revenue or funding. Another way to think of this is that tangible deliverables and exchanges are transactions that are contractual or mandated. In other words if you don't deliver these things, you don't get paid or someone is going to want their money back.

Tangibles include contracts and invoices, return receipt of orders, request for proposals, confirmations, payment, etc. Tangibles would also include the business transactions required to deliver or execute core goods and services. Knowledge products or services that generate revenue or are expected as part of service (such as reports or package inserts) are part of the tangible value flow of goods, services, and revenue.

Intangible deliverables

Intangible deliverables are all the little "extras" - such as certain kinds of knowledge or information exchanges, favors, and benefits that build relationships and keep things running smoothly. 

No one pays for these intangibles directly and they are almost never formalized or contractual, but they are still critical to support the business transactions and processes.

Knowledge exchanges include strategic information, planning knowledge, process knowledge, technical know-how, collaborative design, policy development, etc., which flow around and support the core product and service offerings. They are very specific, and occur or begin at identifiable points in time in the course of a typical scenario.

Benefits are advantages or favors that can be extended from one person to another.

Examples might be offering to provide political support to someone. Or a research organization might ask someone to volunteer time and expertise for a project in exchange for an intangible benefit of prestige by affiliation.

These are intangible "products" or "deliverables" or "benefits" that can be exchanged, as indeed people can and do trade favors to build relationships.

The element of Brand Equity

Brand equity is a phrase used in the marketing industry which describes the value of having a well-known brand name, based on the idea that the owner of a well-known brand name can generate more money from products with that brand name than from products with a less well known name, as consumers believe that a product with a well-known name is better than products with less well-known names.

Brand equity is a value premium that a company realizes from a product with a recognizable name as compared to its generic equivalent. Companies can create brand equity for their products by making them memorable, easily recognizable and superior in quality and reliability. Mass marketing campaigns can also help to create brand equity. If consumers are willing to pay more for a generic product than for a branded one, however, the brand is said to have negative brand equity. This might happen if a company had a major product recall or caused a widely publicized environmental disaster.

“The value of a brand. From a consumer perspective, brand equity is based on consumer attitudes about positive brand attributes and favorable consequences of brand use.” – American Marketing Association

“A set of assets and liabilities linked to a brand, its name and symbol, that adds to or subtracts from the value provided by a product or service to a firm and/or to that firm’s customers.” – David Aaker

“The tangible and intangible value that a brand provides positively or negatively to an organization, its products, its services, and its bottom-line derived from consumer knowledge, perceptions, and experiences with the brand.” — Susan Gunelius

Some marketing researchers have concluded that brands are one of the most valuable assets a company has, as brand equity is one of the factors which can increase the financial value of a brand to the brand owner, although not the only one. Elements that can be included in the valuation of brand equity include (but not limited to): changing market share, profit margins, consumer recognition of logos and other visual elements, brand language associations made by consumers, consumers' perceptions of quality and other relevant brand values.

Consumers' knowledge about a brand also governs how manufacturers and advertisers market the brand. Brand equity is created through strategic investments in communication channels and market education and appreciates through economic growth in profit margins, market share, prestige value, and critical associations. Generally, these strategic investments appreciate over time to deliver a return on investment. This is directly related to marketing ROI. Brand equity can also appreciate without strategic direction.

Brand equity is strategically crucial, but famously difficult to quantify. Many experts have developed tools to analyze this asset, but there is no universally accepted way to measure it. As one of the serial challenges that marketing professionals and academics find with the concept of brand equity, the disconnect between quantitative and qualitative equity values is difficult to reconcile. Quantitative brand equity includes numerical values such as profit margins and market share, but fails to capture qualitative elements such as prestige and associations of interest. Overall, most marketing practitioners take a more qualitative approach to brand equity because of this challenge. In a survey of nearly 200 senior marketing managers, only 26 percent responded that they found the "brand equity" metric very useful

5 Stages of Brand Experience that lead to brand equity

Brand equity is typically the result of brand loyalty, and with brand loyalty comes increased market share. In fact, there are 5 stages of brand experience that lead to positive brand equity:

•     Brand awareness: Consumers are aware of the brand.
•     Brand recognition: Consumers recognize the brand and know what it offers versus competitors.
•     Brand trial: Consumers have tried the brand.
•     Brand preference: Consumers like the brand and become repeat purchasers. They begin to develop emotional connections to the brand.
•     Brand loyalty: Consumers demand the brand and will travel distances to find it. As loyalty increases so do emotional connections until there is no adequate substitute for the brand in the consumer’s mind.

The Element of Corporate Image

"Corporate image" referring to a company's reputation. The "image" is what the public is supposed to see when the corporation is mentioned. Corporate image is a mental picture that springs up at the mention of a firm's name. It is a composite psychological impression that continually changes with the firm's circumstances, media coverage, performance, pronouncements, etc. Similar to a firm's reputation or goodwill, it is the public perception of the firm rather than a reflection of its actual state or position. Unlike corporate identity, it is fluid and can change overnight from positive to negative to neutral. Large firms use various corporate advertising techniques to enhance their image in order to improve their desirability as a supplier, employer, customer, borrower, etc. The image of Apple computer, for example, as a successful business has dimmed and brightened several times in the last 30 years. But its identity (conveyed by its name and multicolored bitten-off-apple logo) as an innovative and pathbreaking firm has survived almost intact during the same period.

The concept is usually associated with large corporations, but small businesses also have a corporate image even if neither their owners nor customers think of it that way. In the absence of active efforts, corporate image "simply happens": it is how a company is perceived. Management, however, may actively attempt to shape the image by communications, brand selection and promotion, use of symbols, and by publicizing its actions. Corporations trying to shape their image are analogous to individuals who will dress appropriately, cultivate courteous manners, and choose their words carefully in order to come across competent, likeable, and reliable. In the personal as in the corporate case, the image should match reality. When it does not, the consequence will be the opposite of the one intended.

 

The elements of Corporate Image

A corporate image is, of course, the sum total of impressions left on the company's many publics. In many instances a brief, casual act by an employee can either lift or damage the corporate image in the eyes of a single customer or caller on the phone. But the overall image is a composite of many thousands of impressions and facts.
The major elements are :
1) the core business and financial performance of the company,
2) the reputation and performance of its brands ("brand equity"),
3) its reputation for innovation or technological prowess, usually based on concrete events,
4) its policies toward its salaried employees and workers,
5) its external relations with customers, stockholders, and the community, and
6) the perceived trends in the markets in which it operates as seen by the public. Sometimes a charismatic leader becomes so widely known that he or she adds a personal luster to the company.

 

Image versus Images

Only in the best of cases does a corporation enjoy a single reputation. Different publics may have different views of the corporation depending on their different interests. A company's brand image may be very good but its reputation among suppliers poor—because it bargains very hard, pays late, and shows no loyalty to vendors. A company may be highly regarded on Wall Street but may be disliked on the Main Street of cities where it has closed plants. A company may be valued for providing very low prices yet disliked for its employment practices or indifferent environmental performance. It is much more likely that a small business will have an all-around reputation for excellence than that a very large conglomerate will merit all-around praise. Smallness has its advantages.

 

Corporate Image and Business Performance

The single most important factor in the corporate image is a company's core business performance; performance, by definition, includes financial results. A growing, profitable corporation with a steady earnings history will, for these reasons alone, please its customers, investors, and the community in which it operates. A profitable company that, nevertheless, exhibits huge gyrations in earnings will fare worse: its earnings and dividends will be unpredictable; it will have layoffs; its stock will fluctuate; its vendors will be more uneasy; its employees nervous. When a business fails in its core function, its reputation heads straight south. Enron Corp., an energy trader, had a stellar reputation as the 7th largest corporation measured in revenues. It fell into bankruptcy almost abruptly on December 2, 2001; the Justice Department began to investigate it for fraud. Suddenly every aspect of the company that had been admired and lauded—its audacity, energy, profitability, innovativeness, entrepreneurial spirit, and so on—took on opposite and negative connotations. The core business had failed; Enron's reputation imploded. No amount of corporate image polishing could have saved Enron's reputation after that.

 

Corporate image evaluation

Corporations evaluate their image, much as politicians do, by survey. They employ the methodology of marketing surveys used both in polling and in support of advertising. The investigators select appropriate samples of the public and interview them; telephone surveys are the most common. They use statistical methods of extrapolation to project from the sample what the public as a whole (or selected publics) think. Corporations, of course, also rely on the much "harder" measures such as sales and stock performance. Surveys of the corporate image are sometimes motivated by sagging sales and a miserable press.

The theory of the corporate image holds that, all things equal, a well-informed public will help a company achieve higher sales and profits, whereas a forgetful or poorly informed public may come to hold negative impressions about the company and may ultimately shift more of its patronage toward competitors.

 

Does small business need to build a "CORPORATE IMAGE"?

Every small business will have the equivalent of a corporate image because it will have a reputation among its employees, customers, vendors, neighbors, and the government agencies with which it deals. The first action of the owner, in choosing the name of enterprise, is an exercise in building a corporate image. The process continues in many ways: in the choice of brand names to be used, the location of leased space, office decorations and/or store equipment selected, the company's Web site design if the business has an Internet presence, its sales literature, and so on. As the business begins to operate, it will build its visibility in its market by outward symbols; the quality of its products or services; the knowledge, skill, and friendliness of its employees; its promptness in paying bills; its effectiveness in mounting promotions; and the list goes on.

By their very nature, small businesses tend to be closer to all of their constituencies. As a consequence, the business will enjoy rapid feedback from the public when it begins to make mistakes or has some bad luck. If that should happen, the small business, like the major corporation, will engage in the actions—followed by words—which will be necessary to recover losses or make the most of unusual success.

Gilbert D. Harrell, Ph.D - Professor of Marketing

Gilbert D. Harrell, Ph.D., is Professor of Marketing at the Broad College of Business and Graduate School of Management, Michigan State University. Professor Harrell received the 1997 John D. and Dortha J. Withrow Endowed Teacher/Scholar Award, the 1996 Phi Chi Theta Professor of the Year Award, and the 1995 Golden Key National Honor Society Teaching Excellence Award as the top teacher at Michigan State University. His activities include the Undergraduate, MBA, Executive MBA and Ph.D. programs, where over 20,000 students have taken his classes. Among other courses, he is currently teaching Strategic Planning in the Executive MBA curriculum. His teaching, research, and consulting activities focus on sustainable competitive advantage; building business value; consumer loyalty; and strategic business, marketing and sales planning systems.

Dr. Harrell's new book, Marketing: Connecting With Customers, Prentice Hall, 2002, shows how winning organizations compete. His other books include Consumer Behavior, Harcourt Brace and Jovanovich; Strategic Planning, Simon & Schuster, and others. His publications have appeared in several journals, including The Journal of Long Range Planning, Journal of Marketing Research, Journal of Consumer Research, Journal of Consumer Affairs, Journal of Industrial Marketing Management, Journal of Consumer Satisfaction, Journal of Retailing, Business Topics, Journal of Logistics Information Management, Journal of Health Care Marketing, Journal of International Marketing, Journal of the Academy of Marketing Science, and others. He has been or is a member of the University Graduate Council, the University Graduate Professional Judiciary, the University Automotive Industry Advisory Board, Chairperson of the Committee on Executive Development, and others. Dr. Harrell's doctorate degree is from Pennsylvania State University, where he was elected to the Phi Kappa Phi Honorary and the American Marketing Association Consortium. Both his Bachelor's and Master's degrees are from Michigan State University.

Dr. Harrell has consulted in over 20 countries and he maintains an active multinational clientele. He has received wide acclaim from his clients as a leading strategist, motivational speaker, and facilitator and has been a speaker at numerous association meetings. He is very active in MSU Executive Development Programs. Dr. Harrell has developed strategic business and marketing systems for many Fortune 500 and mid-size organizations, including ARAMARK, General Motors, Collins and Aikman, Eastman Kodak, Asea Brown Boveri, Westinghouse, Cutler Hammer, AAR, Masco, Delta, Sparrow Health Systems, United Parcel Services, Brunswick Corporation, North American Van Lines, Electronic Data Systems, and others. Dr. Harrell is founder of Harrell & Associates, Inc., a professional consulting group, which specializes in services regarding strategic business, marketing, technology and sales.

Title(s) : Professor Marketing

Contact Information : N329 Business College Complex, 5174326415. harrell@broad.msu.edu 

Interests : Strategic marketing management, business-to-business marketing, and sales strategies 

Degree : PhD Pennsylvania State University

Personal Selling Method

Personal selling is where businesses use people (the “sales force”) to sell the product after meeting face-to-face with the customer. Personal selling is selling technique involved between person to person and between the prospective buyer and seller. Personal selling consist of human contact and direct communication rather than impersonal mass communication. Personal selling involves developing customer relationship, discovering & communicating customer needs, matching the appropriate products with these needs.

The sellers promote the product through their attitude, appearance and specialist product knowledge.  They aim to inform and encourage the customer to buy, or at least trial the product. A good example of personal selling is found in department stores on the perfume and cosmetic counters.

A customer can get advice on how to apply the product and can try different products.  Products with relatively high prices, or with complex features, are often sold using personal selling.  Great examples include cars, office equipment (e.g. photocopiers) and many products that are sold by businesses to other industrial customers.

• Advantage - High customer attention Message is customized Interactivity Persuasive impact Potential for development of relationship Adaptable Opportunity to close the sale
• Disadvantages - High cost Labor intensive Expensive Can only reach a limited number of customers

Point-of-sale merchandising can be said to be a specialist form of personal selling.  POS merchandising involves face-to-face contact between sales representatives of producers and the retail trade.

A merchandiser will visit a range of suitable retail premises in his/her area and encourage the retailer to stock products from a range.  The visit also provides the opportunity for the merchandiser to check on stock levels and to check whether the product is being displayed optimally.

Direct Marketing Method

Direct Marketing is the practice of marketing products or services directly to consumers. This is a more personalized approach than traditional "mass" marketing where consumers receive the same message through mass media, such as broadcast television, radio and newspapers. Direct Marketing allows businesses and non-profit organizations to contact you directly about products, services or causes that might interest you. For Direct Marketing to be effective, it is important to first identify which groups of consumers should be contacted before the marketer contacts the consumer directly. Marketers do not search out specific people, but rather, groups of people that share common interests and characteristics.

Direct marketing is about making direct contact with existing and potential customers to promote your products or services. Unlike media advertising, it enables you to target particular people with a personalized message. Direct marketing can be cost effective and extremely powerful at generating sales, so it is ideal for small businesses.

Direct marketing allows you to generate a response from targeted customers. As a result, small businesses can focus their limited marketing resources where they are most likely to get results.

A direct marketing campaign with a clear call to action can help you boost your sales to existing customers, increase customer loyalty, recapture old customers and generate new business.

Direct marketing can be evaluated and measured precisely. You can analyse results to see which target group was most responsive. You can also test your marketing with sample groups before you roll out the campaign that will deliver the best response rate.

 

Types of Direct Marketing

Direct Mail
You may already be familiar with many types of Direct Marketing delivered through the mail, including catalogs, credit card offers, flyers from local businesses, local restaurant menus, pizzeria coupons, a brochure about the new dentist in town and free trial deals.

Telephone
Often referred to as telemarketing, companies and non-profit organizations may contact you by telephone to sell their products or services, or get support for their causes. For example, a travel company may call you to offer a vacation package.

Email
If you have provided a company with your email address (perhaps you signed up for email newsletters or purchased their products on the internet), the company may send you email advertisements for new products or services, or other offers of interest.

Internet Banner Advertising
While browsing the internet, you will see banner (or "display") advertising. For example, if you read the news online, you may see an advertisement at the top or side of the website. This type of advertising – known as Internet Banner Advertising – can be compared to billboards along the side of a road. As you drive down the freeway, you will see billboards advertising products and services. Similarly, as you browse the internet, you will see ads marketing products and services. Technology enables companies to show you ads that you, particularly, may find interesting, so that you click on the ad, seek additional information or make a purchase. If you have been searching for hotel rooms in New York City, the next time you're reading the news online or browsing the Internet, you may see an advertisement for a New York City hotel, and not a hotel in Los Angeles

Five Aspects of a Promotional Mix

A promotional mix is a specific combination of promotional methods used for one product or a family of products. Elements of a promotion mix may include print or broadcast advertising, direct marketing, personal selling, point of sale displays, and/or merchandising. A promotional mix is an aspect of marketing, but is different from a marketing mix. There are various aspects of a promotional mix, which is meant to promote a good or service to the public in both broad and targeted manners. These aspects include television advertisements, print advertisements, Internet advertising, personal selling, direct marketing, and public relations. A company's image is also considered part of a promotional mix, because a bad image can lead to lowered sales.

 

Here are five main aspects of a promotional mix*

 These are:
Advertising - Presentation and promotion of ideas, goods, or services by an identified sponsor. Examples: Print ads, radio, television, billboard, direct mail, brochures and catalogs, signs, in-store displays, posters, motion pictures, Web pages, banner ads, and emails.

Personal selling - A process of helping and persuading one or more prospects to purchase a good or service or to act on any idea through the use of an oral presentation. Examples: Sales presentations, sales meetings, sales training and incentive programs for intermediary salespeople, samples, and telemarketing. Can be face-to-face selling or via telephone.

Sales Promotion - Media and non-media marketing communication are employed for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability. Examples: Coupons, sweepstakes, contests, product samples, rebates, tie-ins, self-liquidating premiums, trade shows, trade-ins, and exhibitions.

Public relations - Paid intimate stimulation of supply for a product, service, or business unit by planting significant news about it or a favorable presentation of it in the media. Examples: Newspaper and magazine articles/reports, TVs and radio presentations, charitable contributions, speeches, issue advertising, and seminars.

Direct Marketing is a channel-agnostic form of advertising that allows businesses and nonprofits to communicate straight to the customer, with advertising techniques such as mobile messaging, email, interactive consumer websites, online display ads, fliers, catalog distribution, promotional letters, and outdoor advertising.

Corporate image may also be considered as the sixth aspect of promotion mix. The image of an organization is a crucial point in marketing. If the reputation of a company is bad, consumers are less willing to buy a product or use a service from this company as they would have been, if the company had a good image. Sponsorship is sometimes added as an seventh aspect.

*Harrell, Gilbert D. (2008). Marketing: Connecting with Customers. Chicago Education Press. p. 286.

Competitor Analysis in Marketing and Strategic Management

Competitor analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context to identify opportunities and threats. Profiling coalesces all of the relevant sources of competitor analysis into one framework in the support of efficient and effective strategy formulation, implementation, monitoring and adjustment.

Competitor analysis is an essential component of corporate strategy. It is argued that most firms do not conduct this type of analysis systematically enough. Instead, many enterprises operate on what is called “informal impressions, conjectures, and intuition gained through the tidbits of information about competitors every manager continually receives.” As a result, traditional environmental scanning places many firms at risk of dangerous competitive blindspots due to a lack of robust competitor analysis.

One common and useful technique is constructing a competitor array. The steps include:

• Define your industry - scope and nature of the industry
• Determine who your competitors are
• Determine who your customers are and what benefits they expect
• Determine what the key success factors are in your industry
• Rank the key success factors by giving each one a weighting - The sum of all the weightings must add up to one.
• Rate each competitor on each of the key success factors
• Multiply each cell in the matrix by the factor weighting.

 

Competitor profiling

The strategic rationale of competitor profiling is powerfully simple. Superior knowledge of rivals offers a legitimate source of competitive advantage. The raw material of competitive advantage consists of offering superior customer value in the firm’s chosen market. The definitive characteristic of customer value is the adjective, superior. Customer value is defined relative to rival offerings making competitor knowledge an intrinsic component of corporate strategy. Profiling facilitates this strategic objective in three important ways. First, profiling can reveal strategic weaknesses in rivals that the firm may exploit. Second, the proactive stance of competitor profiling will allow the firm to anticipate the strategic response of their rivals to the firm’s planned strategies, the strategies of other competing firms, and changes in the environment. Third, this proactive knowledge will give the firms strategic agility. Offensive strategy can be implemented more quickly in order to exploit opportunities and capitalize on strengths. Similarly, defensive strategy can be employed more deftly in order to counter the threat of rival firms from exploiting the firm’s own weaknesses.

Clearly, those firms practicing systematic and advanced competitor profiling have a significant advantage. As such, a comprehensive profiling capability is rapidly becoming a core competence required for successful competition. An appropriate analogy is to consider this advantage as akin to having a good idea of the next move that your opponent in a chess match will make. By staying one move ahead, checkmate is one step closer. Indeed, as in chess, a good offense is the best defense in the game of business as well.

A common technique is to create detailed profiles on each of your major competitors. These profiles give an in-depth description of the competitor's background, finances, products, markets, facilities, personnel, and strategies. This involves:

• Background

location of offices, plants, and online presences
history - key personalities, dates, events, and trends
ownership, corporate governance, and organizational structure

• Financials

P-E ratios, dividend policy, and profitability
various financial ratios, liquidity, and cash flow
profit growth profile; method of growth (organic or acquisitive) 

• Products

products offered, depth and breadth of product line, and product portfolio balance
new products developed, new product success rate, and R&D strengths
brands, strength of brand portfolio, brand loyalty and brand awareness
patents and licenses
quality control conformance
reverse engineering or deformulation 

• Marketing

segments served, market shares, customer base, growth rate, and customer loyalty
promotional mix, promotional budgets, advertising themes, ad agency used, sales force success rate, online promotional strategy
distribution channels used (direct & indirect), exclusivity agreements, alliances, and geographical coverage
pricing, discounts, and allowances

• Facilities

plant capacity, capacity utilization rate, age of plant, plant efficiency, capital investment
location, shipping logistics, and product mix by plant

• Personnel

number of employees, key employees, and skill sets
strength of management, and management style
compensation, benefits, and employee morale & retention rates
Corporate and marketing strategies
objectives, mission statement, growth plans, acquisitions, and divestitures
marketing strategies

Market intelligence - Business Intelligence

Market intelligence

Market intelligence' is the information relevant to a company’s markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining market opportunity, market penetration strategy, and market development metrics.

Market Intelligence (MKI) is gathered through internal analysis, competition analysis, and market analysis about the total environment forming a broad spectrum of assembled knowledge, which is then used for developing scenarios so that timely reporting of vital foreknowledge for future planning in the areas of strategic, tactical, and counter-intelligence decision-making can be applied operationally and strategically in respect to the whole organization’s strategic interest for the whole market (Grooms 1988)*.

 

Business Intelligence

Business Intelligence refers to skills, processes, technologies, applications and practices used to support decision making. Business Intelligence often aims to support better business decision-making and as such can be defined as a decision support system.

 

Market Intelligence RolePlay

Market intelligence includes gathering of data from the company’s external environment, whereas the Business intelligence process primarily is based on internal recorded events – such as sales, shipments and purchases. The purpose of incorporating Market Information or intelligence into the Business Intelligence process is to provide decision makers with a more “complete picture” of ongoing corporate performance in a set of given market conditions.

To support corporate strategy and ongoing decision making, a Business Intelligence System comprise roughly of an Extract, Transform and Load (ETL) processor, a data warehouse and a range of reporting tools. Information from existing corporate data sources is extracted, transformed and then loaded into a data warehouse. From here data is being analyzed and pulled into various reporting systems. The market information feed from the external environment into an analytical processing unit, which could be either within or outside the Business Intelligence tool.

 

Transform Market Intelligence into Business Intelligence

We have two different setups for pulling of external market intelligence into the Business Intelligence system. From outside the platform, the market information is a part of the source system environment, where it could already have been analyzed in a separate transactional database and then extracted, transformed and loaded into the data warehouse or into a separate data mart for feeding into the “front room”.

Alternatively, and perhaps in a more logical way, from within the Business Intelligence system, the market information could also be feed (ETL) non-analyzed and uniformly directly into the data warehouse, or a data mart, from where it is finally being analyzed and reported in “the front room”.

One challenge (open question) is to determine the extent of analyzing or precessing market data in a transactional database, before feeding into the data warehouse and finally again analyze in the front room.

*"Establishing the Foundation for Market Intelligence" 1998, 416 pages, UMI: LD 03809, Volume 23, Issue 03R US Library of Congress ISBN TX 4-731-787.
**"Establishing the Foundation for Market Intelligence" 1998, 416 pages, UMI: LD 03809, Volume 23, Issue 03R US Library of Congress ISBN TX 4-731-787.

Prof. Dr. Thomas Fletcher Grooms

SKILLS PROFILE OF PROF. DR. THOMAS FLETCHER GROOMS

• Philanthrophy and Charity as CEO of HealthLink Initiative, a Nonprofit Corporation for Healthcare and Health Education for Women and Children.

• Speaker Current Affairs and History Conversations in International Relations, GeoPolitical, and Economics.

• Researcher for INTERCEDE Research Institute (IRI).

• Founder of Academy of Market Intelligence and Father of Market Intelligence (AMI).

• Founder of GroomsGlobal (G2) a family business.

• Domestic and Foreign work as Small Business Incubator Specialist.

• Held key Corporate Positions, domestic and international.

• Chapter 11 Turnarounds - 100% success back to profitability.

• Strategy planning, business analysis, research.

• Served on Economic Development Boards : Economic Commissions, Economic Government Planning, Zoning Laws & Regulations Reviews.

• Strong International Business knowledge and experience plus travel to over 22 countries.

• Export and Import markets.

• Teaching Executive Training and Seminar Programs.

• Distinguished Professor of undergraduate and graduate courses at private and state universities.

• Served in Academic Administration capacities as Division Chair, Department Head, Chair etc.

• Author of 2 text books, published 38 articles, 2 white papers; plus, numerous online contributions.

 

Experience

Temperature of the World ™
SPEAKER
January 2013 – Present (1 year 4 months)Dallas - Fort Worth - Denton

Current Affairs and History Conversations about International Relations, GeoPolitical, and Economic Influences on Markets

There are times when all need something positive in their lives that will allow them to believe there is a more important purpose.

We all are linked together, in each cause, in each need, independent of a common
theme, creating a synergy, which changes the results.

Give to Your Employees in your Organization an experience that will have them saying that makes sense…Temperature of the World speech to your organization.

ADVANCEMENT THROUGH UNDERSTANDING AND MOTIVATION

Topics are all custom written for each need and individual audience.

FEE : I live in the Dallas Texas area and travel anywhere in the world to speak. My fee is $10,000 USD per speech, plus travel expenses and First Class Air Travel, Accommodations and Meals. Required 50% payment to secure a date. All airline reservations and accommodation reservations furnished and accepted; and, the 50% balance paid before travel departure. Invoice will be sent for each payment.

To reserve a date email Tom at GG2@grandecom.net
CEO - Chief Executive Officer
HealthLink Initiative
September 2013 – Present (8 months)Texas USA

Philanthropy and Charity to Help Women and Children
HealthLink Initiative
Healthlinkinitiative.org
501 (C) (3) nonprofit corporation

HealthLink Initiative is a 501(c)(3) nonprofit dedicated to the health and wellness needs of impoverished Women and Children, Homeless Teenagers, Homeless Families, and Seniors through advocacy, education, information, and financial assistance. It is a national nonprofit corporation that works through community networks of healthcare professionals to provide healthcare solutions at a time of need. Healthcare and Healthcare Education.
EXPERIENCE
Dr Thomas Fletcher Grooms
January 2013 – Present (1 year 4 months)

• Consultant to Senior Executives guided successful emergence from Chapter 11 for two-division electronics company and distributorship, which products included components, telecommunications & test equipment, video & audio equipment. Reported to the President focusing on market share losses and declining cash flow. Later, startup ventures.

• Executive in Manufacturing responsible for all international accounts and business, in-house national accounts and liaison between marketing and engineering. Provided greater innovation, efficiencies and automation, on global scale of raw materials, energy and people. Reported to the President. Production included industrial rubber, gaskets, couplings and valves.

• Sales, Marketing, and International Manager positions within industry corporate structures, manufacturing, and distributorships. Reported to Vice President of Marketing. Responsible for all national in-house accounts, international business, marketing and sales for military and custom electronic and electromechanical products and original equipment as oil and gas, power supplies, robotics, and telecommunications custom design and production. Chairman of Strategic Planning Committee.

• Manufacturer Representative Fashion Industry for 4 state territory promoted to 6 state territory, selling for distributorships, inside industrial sales, retail sales, cold calling sales, pioneering new territories, national accounts, international sales, sales management.

• Retail Owner grocery stores. Retail pharmaceuticals, fashion apparel and shoes.

• Labor sweeping floors and cleaning out meat cases. Leather tannery, digging ditches, working farms, straw boss, 100 other minimum jobs.

• Full-Professor of Marketing and International Business teaching in the subject fields of MARKETING, INTERNATIONAL BUSINESS, LAW, and ECONOMICS for undergraduate, graduate, and doctorial F2F and online classes.
EXPERIENCE
Dr Thomas Fletcher Grooms
January 2013 – Present (1 year 4 months)

• Super Collider Advisor to a Director in the International Consortium at Waxahachie, Texas. The largest scientific experiment in history.

• World Cup Consultant to Director of the World Cup project that brought 9 World Cup Soccer Games to Dallas, Texas.

• China - Research for China Government - Large Company Corporate Advantage to Small Business Entrepreneurship Advantage.

• Newfoundland - Research for Newfoundland Government - World Fisheries Industry - New Foundland and Japan.

• Russia - Incubator Program Specialist for Strategy and Planning – Appointed through ACDI.VOCA in Washington D.C. to the 5-person team to Represent the United States of America in Russia to establish the first entrepreneurial business incubator program and contribute to the recovery of the Russian economy. As such, were one of the first Americans in 6 closed cities in Russia providing lectures, research, creative programs, and innovation to support the Russian government. Our Mission regarded economic assessment to improve the entrepreneurial and general business environment. My Mission was to deliver a completed master strategic business plan for revitalization of future employment and a growing economy. My contribution specialized in strategy and the future. Assessment and recommendation was for Russia to rewrite its tax laws. At a later date, Vladimir Putin, President of Russia, adopted the flat tax.

• Entrepreneur - Owner operated several profitable businesses

 

Volunteer Experience & Causes

Advisory Board of Directors for HealthLink Initiative Nonprofit Corporation
HealthLink Initiative - HELP Women and Children, Homeless Teenagers, Homeless Families, and Seniors
December 2010 – Present (3 years 5 months)Health

http://www.healthlinkinitiative.org/

 

Education

Henley Business School (HBS-England) University of Reading and Brunel University[
Ph.D.(England), Ph.D.(US), J.D., M.B.A., M.Sc., B.S., Marketing and International Business
1991 – 2001

* Executive Perceptions of the Value of Marketing Intelligence
Population study: CEOs, Presidents, & Senior Executives of Fortune 500 Companies
Doctoral Thesis (2002 - 353 pages)
European ISBN & British Library © DXN 048545 & DX 217939
University Microfilms International (UMI) http://www.umi.com
ProQuest Dissertation Abstracts International (800.521.3042)
US Library of Congress ISBN: © 0-493-38073-6 (TX 5-453-268)

* Market Intelligence: CEO Attitudes toward Knowledge Management Systems
Population study: CEOs, Presidents, & Senior Executives of Pharmaceutical Companies Worldwide
Doctoral Dissertation (2001 - 534 pages)
US Library of Congress ISBN: © TX U-987-180

* Establishing the Foundation for Market Intelligence
Worldwide usage study of the term market intelligence
Thesis (1998 - 416 pages)
University Microfilms International (UMI) http://www.umi.com
(800.521.3042)
LD 03809, Volume 23, Issue 03R
US Library of Congress ISBN: © TX 4-731-787