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FOR IMMEDIATE RELEASE:
Columbus Dispatch
CONTACT: Jeff an Marc Slutsky
Street Fighter, Inc.
Web Address: http://www.streetfighter.com
Staying Ahead of the Trends Puts Companies in the Lead (Part
2)
Columbus, OH, April 17, 2001
A number of powerful trends are affecting business today, and a
successful business must be able to anticipate and adapt to changes
in the marketplace. Many of those changes are taking place outside
the business world but are affecting what goes on inside.
C. Britt Beemer and Robert L. Shook, coauthors of It Takes a Prophet
to Make a Profit, have identified a number of those trends and explain
how they are providing opportunities, particularly for businesses
focusing on service.
They include:
- A lack of discretionary time: With less time to comparison shop,
consumers are limiting choices to those stores they know will
carry the correct sizes and colors and have adequate stocks of
sale items.
- Dual-income families are becoming single-income families: This
has created opportunities for telecommuting, part-time work and
home-operated businesses. As a result, there also is an increased
demand for home-improvement centers such as Home Depot. With one
income, families shop more in discount stores.
- Today's marketing efforts are not keeping pace with changing
consumer demands: Today's consumers want to do business with companies
that listen to their needs offering such conveniences as a hassle-free
return policy or making sure that advertised merchandise is in
stock. Those companies that ask customers for their feedback,
such as Lillian Vernon, are rewarded by a loyal customer base.
So, given these and other trends, what can you do in your business
to make sure you're not left behind? Today's consumers cherish time
and want convenience, but don't be misled. Although they view themselves
as bargain shoppers, today's consumers are, in fact, value shoppers.
Your customers know when a product or service is worth their time
and money --and when it isn't. So you should ask yourself a number
of questions to make sure your product or service is worth their
time:
- Does your store have the selection they want every time?
- Is their shopping time well-invested?
- Is this store or brand indispensable to them?
- Is this store or brand indispensable to them?
Jeff and Marc Slutsky are executives with Street Fighter, a Columbus-based
training organization that helps small businesses generate more
business on a tight budget. Their web site is http://www.streetfighter.com.
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