Business

Small Businesses and Their Tricks The small business marketplace is extremely dynamic. According to business experts, of all the small business startups, one-third of them are profitable and successful, a third of them just about break-even and the rest of them are down with negative earnings. Sales representatives are found in nearly all industry segments. One of the most common places to find salespeople is in the retail environment. At this level, representatives may work on commission, or they may receive a straight salary. In some cases, the selling is passive, where sales representatives wait for customers to come into the store, or even into their department. In other cases, sales representatives actively seek out customers in order to communicate the features and benefits of the particular products.  Whether a company is engaged in manufacturing a product or providing a service, they depend on sales representatives to sell their product to their customers. This means that sales professionals are a critical part of most businesses. Marketing activities can promote the item; pricing and distribution strategies can put the item in the right place at the right price. There are many types of sales careers such as retail sales of low-priced items to selling high-priced items to corporate accounts. Some companies consist almost entirely of sales professionals (representative agencies). This research examines the sales profession as a potential career, including the types of sales representatives in the market, knowledge and experience required, and compensation and future outlook. Consumer minds are extremely easy to manipulate. When companies create deals and sales, they have teams design the best method to grab people’s attention. This can be seen in the national event known as Black Friday. Thousands of Americans camp outside retail stores to acquire what they believe is the best deal they will ever receive on select items. However, what many of these people do not realize is that companies are just allowing them to falsely believe that these are “deals”. One of the most crucial concepts in our society that can be viewed skeptically is the small businesses and their tricks. How they play with our minds and make us buy things that we don’t really need. For example when you walking throw mall, the cell phone shop call us and first question they ask is what type a phone you use' If anyone says I phone, than you know that just got trap by the owner. He will show all the nice chases and tell you all the deals. And when you reject all the deals but before leaving he will tell you one last deal and then you’re thinking mind that oh it’s a nice deal lets buy it. Now their new thing in business world that is making so much profit and everyone is buying that doesn’t matter how old are you, kinds, old people, actors and athletes are buying those and it’s called “Power Balance band”. Power balance band is a band that gives you balance, power and strength. In the mall people are trying it on and owners are doing tricks that makes customers believe that it’s really works and really give you power and balances your body. As of right now they maker of power band have sold over 2.5 millions bands worldwide. Why this band got so famous' Because athletes wear them and play in them and we people think that oh they got power because of the power band so let’s buy it and we will play better in our games. In the article, “The A-listers love them. But are Power Balance bands just a con trick'” the author say, “Athletes say they can last longer on the field, that they have better balance and that their muscles recover quicker and Non-athletes say it works for them, too, giving them that extra boost off the field, in many areas of life including the office and in the bedroom.” Just by this statement everyone would want buy it, they won’t think if this article is wrong or not they will buy it because it will give you energy. In the book "Predictably Irrational" the author uses a very good example that sales representatives play with our minds. For example, in Chapter 1 (The Truth about Relativity) explains that our choices are not based on absolute thinking, but on relative/local choices. For example, “would you rather purchase an online subscription to Economist magazine for $59/year or print a subscription for $125/year' What if there was a third choice: print + online for $125/year (the same price as print-only)”' It turns out that high-priced items on the menus and in catalogs serve as decoys: by having a high priced item, you see the lower-priced item as a bargain and increase you’re spending to the next-high priced item. Another example was when Sams put together three televisions on display: “36-inch Panasonic for $690, 42-inch Toshiba for $850 and 50-inch Philips for $1480”. By being given three options, they already confused the customers, but customers do not know which to pick Panasonic or Philips' So they will go for the middle one and that’s the one they want to sell. In the book “Influence: The Psychology of Persuasion”, they were to rate the quality of some paintings as part of an experiment on "art appreciation." Dr. Regan’s calls his assistant Joe. Joe brings two bottles of Coca- Cola, one for the subject and one for himself. "I asked him [the experimenter] if I could get myself a Coke, and he said it was okay, so I bought one for you, too." Joe started asking everyone if they can buy some tickets so he can win a prize. The tickets were a quarter each. The subjects for whom Joe had bought a Coke bought twice as many tickets as the subjects who had not received the prior favor, far more than the value of the Coke! In the Video Crux 360 I pad case commercial, they showed the ipad cases with a keyboard. Just by watching that video people are willing to go and buy the case even though they already have a case for their ipad. They will still spend money on that because Crux 360 has a keyboard, it turns 360 and its looks beautiful but you can some other ipad case for cheaper or they can go to eBay and get it for cheaper but they would not because they want to buy that one.