Posts Tagged ‘Aud’
Thursday, March 19th, 2009
The way to turn a forex merchandiser is laborious and one cannot embellish a merchandiser upright the incoming day. Pro trading techniques bonk to learnt over case, virtuous as the way it would be for one to turning into a lawyer of esteem, an communicator of best-sellers, or a skilful machine coder. Various geezerhood of acquisition and live are obligatory for one to turn a forex dealer.
Success shakes crewman with the forex trading set. The vital requirements for this success are your ambitious attempts in acquisition and rising forex trading techniques. When you equivalence the forex trading theater to remaining worthwhile careers, forex trading can be likened to a spraying in concept constitute. Much an art has no rules or defining aspects. Forex trading can be wise to be an ever-changing, evaporable pattern of art.
It is obligatory to discover and captain the bedrock of trading for you to learn your own strategies. You testament make to produce your own activity and fine-tuning to the happenings in the forex trading mart. It’s not the way of noesis but the level of state which counts when you soul to dealings with changes.
Though it seems to be a blunt and pointless workout at forward, forex trading yields gains with worship of period and utilization of expertise. You faculty see development with forbearance and in due way you are rolled to be flourishing more writer that what you had anticipated.
It is improve learn as more as gettable by yourself before you begin making queries. I do not say that questions are not echt for your exercise, and though there are some traders as symptomless as organizations to exploit novices in the ground, yet not everyone on the Web has the statement to request advice on the theme. Both answers may do scathe to the watch of a new merchant. Also you should not drop through the procedures. You cannot retributory enroll at the Lincoln and meliorate queries grooming.
Coming to queries, what I anticipate is that if you poverty to be a made forex trader, you bed to guess your capabilities. Forthcoming to bang of your aims and limits can ply you to believe your temperament of risks, techniques of money direction and trading procedures. So what I inform is that you someone to ask yourself the questions set out below:
1.Can I withstand a gettable red of money, financially as fit as emotionally?2.What is my propose in forex trading? Is it the vocation, earnings, joy or defrayal of dues?3.Do I hold to devote sizeable measure to learn and activity forex trading?4.Am I very moved and how do I handgrip situations involving difficulty? Understanding your capabilities unique is not enough. You jazz to regain out in depth most the study of your maraud - the forex trading activity, the front of prices, the factors of work and the resulting developments.
When you change grasped the fundamentals of forex trading, the incoming situation you demand to bonk is the factors that tempt the occurrence of prices in the forex marketplace. This is not a certain subject which says ‘two + two = four’. The forex market is continually low the work of dynamic trends and what mightiness bed been okay yesterday may not be good at all today.
Then the tools of the change know to be perfect and right to cognise that they are easy on your trading construction won’t do.
And in ending, a rattling alive piece of advice is that you should undergo it unchaste, read with determination and gain daily progression. Devote many moment to psychoanalyze the chronicle of your trading, chance out what mistakes you make through and acquire notes; also possess the trading leger handy. Finally a perfect depict present develop when all the pieces of the teaser are assembled.
Good Chance!
Tags: abiliti, advice, aim, Ali, Ally, animated, Ast, Aud, Career, cia, ck, dea, discover, Earnings, ema, Emoti, emotion, expert, Fi, financial, fit, Flour, forex, forex dealer, forex market, Forex Trade, forex trader, forex trading, Good Chance, Gr, grasp, gre, guess, handy, inc, lawyer, Mai, market, mistake, Mistakes, money, Notes, novice, novices, occurrence, patter, queries, Rate, risk, Seller, sit, suggestions, trading, Whatever
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Monday, January 19th, 2009
The trend in globalization will lead to greater integration of large number of producers and consumers in the global economy according to M. K. Pralahad in his book ”Fortune at the Bottom of the Pyramid’. IT continues to played an important role enabling democratized commerce.
Because of technological advances; information is getting more and more democratized. Today, on a global scale everyone has access to the same information and the potential to translate that information into intelligence. In the past, the profit was made mainly from ‘Information Arbitrage’. If you had access to privileged information, you could take advantage of that information to make a profit. Also, since information traveled slowly, the first movers had a huge advantage when it came to competition. But, with the coming democratization, the velocity of information has dramatically increased and thus decreasing the period when the organization can market product based on differentiation strategy.
The competition will be able to catch up quickly and offer the same product or service, thus pressurizing the company to reduce cost. This intense pressure from competition leads to ‘commoditization of product/service’ which in turn leads to what Economist call ‘Perfect Competition’. Economists have always loved ‘Prefect Competition’ model because from their perspective that it increases economic efficiency which is good for the society at large.
Thus, trend towards commoditization has accelerated and will continue to accelerate due to technological innovation. This accelerated commoditization which is at the heart of Nicholas Carr’s argument in his infamous HBR article ‘IT Doesn’t Matter’ where he makes an argument that in a ‘perfect competition’ model of future, your investment in IT cannot be leveraged for differentiation strategy.
So, can IT be used for differentiation strategy? The answer is unequivocally YES. First of all, there is always a lag in the availability of information. Even though, the technology continues to enable sharp increase in the velocity of information, the information cannot be made available instantaneously. A ‘business idea’ in an organization will not be known instantaneously to the competition. There is that lag time. But with the increased velocity of information, slow decision will be punished. Organizations need to set up agile business processes and streamline decision making ability if they want to take advantage of first mover strategy. IT can play a major role in this effort only if the core competencies of the organizations are identified and automated.
While the technology can be blamed for commoditizing of products faster, same technology can be leveraged to expedite creation of Network Externalities. Let’s take eBay as an example. While it is simple to copy eBay’s business model, it will be extremely difficult to create a value for the sellers because all the buyers have become eBay’s captive audience. So, in this example IT that enabled Network Externalities has created differentiation strategy for eBay.
IT can also enable seller identify the Long Tail aspect of the supply demand curve. Lets say the Company X is involved in selling music video downloads an specializes in ‘Fusion French Rap with Middle Eastern instruments with Hawaiian Hula dance’. Before large scale global IT adoption, it would have been difficult to identify the demand for that kind of specialized music video. Now, with the advances in IT infrastructure, the company X can reach the global customer base and find enough demand to be profitable. With the advent of social media, technology can be used to build community around that specialized product thus adding more ‘value’.
Thus, IT acts as a double edged sword. On one hand it has the power to force rapid commoditization of products. On the other hand IT can be leveraged as mentioned above to differentiate products and services for an organization. Even with democratized information availability, IT can help create first mover’s advantage. It all depends on how organizations use IT.
Raj Sheelvant is currently working as a Project Manager at a Large Multinational Computer Manufacturing Company. He holds MBA from W.P. Carey Business School of Arizona State University at Tempe, Arizona and MS in Engineering Science from University of Toledo, Toledo Ohio. He has a passion of leveraging IT to create and sustain competitive advantage for the Corporations. He strongly believes that IT can be used to ‘expand economic moat’ for the corporations but one need to make sure that the IT projects are always used to enable corporate and business strategy. He writes his blog on IT Strategy at http://itstrategyblog.com
He is also the author of several papers
“A Parallel Architecture for MUSIC Algorithm.”
International Conference on Signal Processing Application and Technology, Boston-92.
“Hypercube Architecture for Householder Algorithm.” 1992- Modeling and Simulation Conference, Pittsburgh.
You can check his LinkedIn profile at http://www.linkedin.com/in/rsheelv
Tags: acts, adoption, advantage, advent, algorithm, Ali, Ally, amp, Ast, Aud, audience, avail, Bali, blog, business, business process, business school, cia, ck, consumers, corporate, corporations, Coul, current, Customer Base, dea, demo, Diffe, Double Edged Sword, ebay, economists, Economy, ema, Fi, fit, fortune, Fre, Gr, gre, heart, heck, heir, household, hype, inc, informat, innovation, intelligence, investment, Irs, Leverage, logic, love, Mai, market, movers, nfa, passion, perspective, privilege, Rate, rent, Rsi, Seller, simulation, sit, target
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Monday, December 15th, 2008
Getting rich is also a science that has its own laws. Anyone who understands them and abides by them can become rich and take control of his life. All of us have heard of the Law of Attraction but how many of us actually practice it in daily lives? Wallace D. Wattles had written a book a century ago, which turned out to be a timeless classic. In his book, he had opined that getting rich is a predictable income if one understands and inculcates the principles that he has summarized in his book. This book has inspired many teachers and philosophers who also believe in doing things in a “certain way” to get money. Any person who knowingly or unknowingly does things in the said manner ends up getting rich. Bob Proctor, Rhonda Byrne, Michael Beckwith, and Jack Canfield came together to create a new type of training seminar called “The SGR seminar” modeled on Wattles’ wealth creation philosophies.
The SGR seminar is a comprehensive training system that aims to explain principles of Wattles and encourages everyone to incorporate them in their daily lives. The seminar also includes audio, written, and live seminar formats to help individuals learn, employ and master these incredibly simple but important principles of wealth creation. What makes this seminar more striking is its in-built vehicle that enables participants to make money through an affiliate program. The seminar therefore not only empowers individuals with the knowledge to become rich but also provides means to extend their income. The seminar therefore is a unique amalgamation of original concepts by Wattles and expertise of masterminds like Bob Proctor, Jack Canfield and Michael Beckwith, and Rhonda Byrne.
The seminar has shaped the lives of many individuals so far and continues to inspire people from all walks of life.
To find out more about the science of getting rich, and read a complete review before buying ANYTHING check out http://www.thescienceofgettingrich-wallacewattles.com
Tags: aim, Ally, Ast, Aud, ceo, ck, Control, corporate, Employ, expert, Fi, Gr, heck, heir, inc, knowledge, Law Of Attraction, Make Money, money, peopl, People, principle, Rate, Review, shape, target, walks of life
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Tuesday, November 18th, 2008
Automatic trading software is seen by many as a great way to trade forex markets. It requires no previous experience, is very time efficient and the good ones can build long term. How do you choose the ones that make money let’s find out…
The first point to make is that most of the automatic forex trading software on the net simply won’t make you money, if you think you are going to get rich for the price of a night out your mistaken.
Forex trading is not east that’s why 95% of traders lose money and while automatic trading software can work you need to be very careful in how you choose one and this is what were going to look at now
First - if you see great advertising copy which looks to good to true it probably is and chances are you will also see the warning below NEVER consider software with this on it here it is:
“CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown”.
These track records are not worth the paper their written on - there made up knowing the closing data and that’s easy.
I made the mistake 20 years ago of buying software that claimed 100,000 in profits quickly and bought it for under $100.00 -, now looking back I found the old sales copy (which was great) but also the disclaimer but of course being new to the industry and naïve I bought it without considering that it was so cheap and hadn’t been traded.
Huge numbers of traders make this mistake and it is guaranteed to lose you money so beware of the disclaimer.
Just think to yourself - if the vendor hasn’t had the courage to trade his own software why should you and why if its that good are you being told about it and offered it so cheap? You know the answer now!
What you need to do is look around for software which has either been independently tracked by third party or has been traded for real with an audited track record and that means broker account statements
These software packages will tend to be in the $1 - 10,000 + range and many are well capable of producing more than there cost - but again be careful, only buy ones you understand the logic of and you have confidence to follow.
If you don’t have confidence - you won’t have the discipline to stick with them through losing periods and will throw in the towel when you hit a few losses. Keep in mind if you don’t have the discipline you may as well not have bothered buying one.
Automatic forex trading systems are all the rage today but stop to think before you buy and do your homework and make sure you find one that’s tested, you have confidence in and can follow with discipline - if you do that you have a good chance of making some great forex profits.
NEW! 2 X FREE ESSENTIAL TRADER PDFS
For free 2 x trading Pdf’s with 50 of pages of essential info on Forex Trading Success visit our website at: http://www.learncurrencytradingonline.com
Tags: account, aim, Ast, Aud, audited track record, automatic forex trading software, Benefit, broker, cftc, Cheap, choose one, ck, confidence, currency, discipline, ears, Fi, fit, forex, forex market, forex markets, forex trading, forex trading software, forex trading system, forex trading systems, Fre, ftc, Good Chance, Gr, gre, Hadn, heir, hindsight, home, Homework, inc, Irs, Liquidity, logic, losses, Make Money, market, markets, mistake, money, performance record, performance results, periods, profits, sales, sit, Software, Software Package, software packages, target, trade forex, trades, trading
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Friday, October 31st, 2008
Investments includes how to value stocks, bonds, and other financial securities; the theory and practice of portfolio management; and the functioning of the securities markets.
Financial institutions examines the role of financial intermediaries, especially commercial banks, in the financial system and the principal managerial issues facing such institutions. Investment in companies may be in shares or by direct investment (private equity).
Islamic scholars have made some concessions on permissible companies, as most use debt either to address liquidity shortages (they borrow) or to invest excess cash (interest-bearing instruments).
Financiers are rightly rewarded for taking risks, which by their nature cannot be entirely managed away or anticipated. The tendency for success to breed complacency and recklessness is as ingrained in financial markets as it is in any other walk of life.
Financial mathematics is the study of financial data with the tools of mathematics , mainly statistics . Such data can be movements of securities?stocks and bonds etc.?and their relations.
Students will learn how to establish appropriate investment objectives, develop optimal portfolio strategies, estimate risk-return tradeoffs, and evaluate investment performance. Many of the latest quantitative approaches are discussed.
Students interested in financial careers receive an excellent professional financial education through the College of Business? Finance Program. You will find highly qualified faculty members, well defined jobs in the field, and other resources, which properly used will lead to excellent career prospects.
Students are also required by the Mathematical Sciences Department to pass a Qualifying Examination, covering major and minor topics, to certify the students’ preparedness to begin research. The minor topic may be numerical analysis, statistics, or finance/economics. Students majoring in business need only three additional economics courses to get a minor in economics.
Finance is about ideas. And one of the nice things about finance is that the same ideas come back again and again - but dressed up in different disguises. Finance is a specialty that deals with the allocation of resources on the corporate, institutional and personal levels.
Money is the life blood of the economic system and the flow of money through corporations, capital markets, and financial institutions are integral to how that life blood gets pumped through the system, how it nourishes the health of the system, and how the economy sustains and perpetuates the standard of living that we enjoy. Finance is fast, easy, and free. You can create and maintain as many portfolios as you like with a single Yahoo!
Finance is responsible annually for the audit, budget, capital improvement program and the long range financial plan for the City. Finance also directs the issuance of municipal debt and industrial revenue bonds.
Accountants and finance specialists are essential to a firm’s growth and development. If you are interested in a career in this field, you are fortunate to be able to make use of the many career opportunities which abound worldwide in this growing area.
Accounting and Control, Business Studies, Economics) or Master’s programmes at other universities can also be included in your curriculum after approval of the Master’s in Quantitative Finance programme committee. You can thus create your own future career profile.
Jigfo.com is a global platform for sharing and learning knowledge. For more information on this article topics visit:
http://www.jigfo.com
Tags: account, accountant, accountants, Accounting, Ali, Ally, analysis statistics, Ast, Aud, bank, banks, Bearing, bonds, Budget, business, capital, capital markets, Career, career prospects, cash, cia, ck, commercial, commercial banks, Control, corporate, corporations, dea, debt, Diffe, disguise, e finance, economic system, economics courses, economics students, Economy, Education, ema, Fi, finance, finance economics, finance program, financial, financial careers, financial institutions, financial markets, financial mathematics, financial securities, financier, Fre, Gr, heir, inc, informat, institutions, instruments financiers, investment, investments, job, jobs, knowledge, life blood, Liquidity, Mai, managerial issues, market, markets, math, mathematical sciences department, mathematics, mmi, money, optimal portfolio, Personal, pita, portfolio strategies, portfolios, profession, Prope, prospects, quantitative approaches, Rate, rent, risk, role of financial intermediaries, Rsi, s market, Searc, securities, sit, slam, stock, stocks, stocks and bonds, stocks bonds, target, value stocks
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Monday, October 27th, 2008
Forex currency trading systems make buying and selling ridiculously simple. It will seem so easy that it might make you think what’s the catch? Is this a scam? I’m glad your BS meter is on because you can’t take chances these days. A lot of people are out to scam you with investment fraud and phony claims. That’s true. They’ll promise you millions in return for your thousand. Don’t buy it.
Here are the most common questions I hear about forex currency trading systems:
Q: What if I have never even tried the forex markets, is this going to work for me?
A: Of course! Forex currency trading systems are unlike other systems out there because they are designed to autopilot and help newbies and experienced traders alike. It’s actually quite easy to submerse yourself into the system to understand it within minutes.
Q: Do I need a large capital to start this program or to start trading?
A: This depends on which broker you use. Most people usually can start to trade with a nominal $500. Most people actually do get started with a small amount so they can see how the system works. Once they see the profits piling up they end up investing considerable sums to maximize their profits.
Q: Do I need a super computer for this kind of stuff?
A: This is a question that I hear all the time. The truth is all you really need is a reliable internet connection. If you have dsl or cable modem you will be on top of your game. All the heavy stuff is usually hosted wherever you get your forex currency trading system software from.
I hear plenty of questions about forex currency trading system because people really can’t grasp the ability they have to make large amounts of money without any knowledge. I know whenever the topic of investing comes up most people don’t think they have what it takes. The truth is that systems have been created to turn the most inexperienced investor into the next Warren Buffet.
Which forex currency trading system should I use?
http://www.squidoo.com/bestforexsoftwaretrading
Tags: aim, Ali, Ally, Aud, autopilot, broker, capital, currency, currency trading, Currency Trading System, experienced traders, Fi, fit, forex, forex currency, forex currency trading, forex market, forex markets, fraud, game, Gr, grasp, heir, internet connection, investing, investment, investor, knowledge, lot, market, markets, met, money, newbie, newbies, peopl, People, pita, profits, promis, promise, Scam, Smal, Software, target, trading
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Monday, October 27th, 2008
Considered as the largest trading market on earth, currency trading is pegged to be trading over USD 2 trillion everyday. This figure greatly dwarfs the performance of the New York Stock Exchange, which gathers an estimated USD 50 billion each day. This comparison alone while help you imagine just how big a business currency trading is. Before anything else, you might be prompted to ask, “What is currency trading?”
Also known as Foreign Exchange, Forex, or FX, currency trading attracts a lot of investors in that it is a very liquid market to invest in. The potential for profit is huge but the risks too, are very high. Unlike the stock exchange, forex accumulates a huge volume of traders. The margins may be low, but the significantly big number of traders makes up for it. In effect, when you profit, and you invested a significant amount, you’d cash in on a very high profit. What is currency trading to some investors who can afford to lose is such a big risk to those who aren’t too fluent about the business yet.
A nation’s currency has a value in relation to another currency. As one buys and sells currency, one finds out that there are pairs of currencies that get traded 85% of total volume: US Dollar (USD) and Japanese Yen (JPY), Euro (EUR) and USD, USD and Swiss Franc (CHF), USD and Canadian Dollar (CAD), Australian Dollar (AUD) and USD, and British Pound (GBP) and USD.
Why do currencies fluctuate now and then?
Current values fluctuate due to its movement. Simply put, when one is in a foreign country and wishes to shop, he will have to convert his native currency to the currency of the country where he is. When he goes back home, he will then have to convert any remaining foreign currency in his pocket back to his domestic currency.
Another reason why there is constant fluctuation in currency values is speculation. Investors, who speculate about how strong or weak a currency will perform at a given time, buy or sell currencies accordingly. Drastic buying or selling has significant impact in a nation’s economy.
What is currency trading against stock exchange?
Stock exchange is another business that attracts big volumes of business but forex is much larger. Aside from the volume here are some advantages of currency trading over stock exchange.
• There are no commissions to pay since you only pay the bid or ask spreads.
• Trading business is done 24 hours a day, 5 days a week so you can trade when you want to.
• There is more focus on what currencies to trade as compared to over 5000 stocks to choose from.
• Forex is now open to every one and there is no need to have so much money before one can start trading.
• Internet not allows online currency trading so forex is no longer just for large banks, or big businesses.
Now that you have some idea what is currency trading, you can start considering if this is a business you’d like to venture in soon. There are a lot more to forex so it is best that you continue doing some more research about it so you can begin trading properly.
What is currency trading? Forex Review Insider shows you which Forex markets are the best to get into and which ones to stay out of. Visit http://www.ForexReviewInsider.com to learn about the most profitable Forex trading systems.
Tags: acts, advantage, Ali, Ast, Aud, australian dollar, bank, banks, business, canadian dollar, cash, Chf, ck, Commissions, country, currencies, currency, currency trading, currency value, Currency Values, current, Current Value, dea, Dollar, e currency trading, earth, Economy, Eek, ema, Fi, fit, fluctuation, focus, foreign, foreign currency, foreign exchange, forex, forex market, forex markets, forex review, forex trading, forex trading system, forex trading systems, Gr, gre, home, inc, investor, investors, Irs, Japan, Jpy, lot, lows, Mai, Marg, margin, market, markets, mmi, money, Much Money, online currency trading, pairs, Prope, reason, rent, Review, risk, Searc, sit, speculation, stock, stock exchange, stocks, target, trading, trillion
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Friday, October 24th, 2008
Are you looking to learn strategies of Forex currency trading? If you are a beginner, it is crucial that you gain some basic understanding of this market before you risk your hard earned money with it.
1. What Exactly Is The Forex Market?
This is the largest financial trading market in the world, with trillions of dollars exchanging hands every day. The stock market and futures market dwarf in comparison to the size of Forex market.
2. How Does Forex Trading Work?
Every time you enter an order with your broker, you will be buying one currency while selling another. That is what happens in the currency market all the time as currencies are always traded in pairs. The major currency pairs include the EUR / USD, USD / CAD, USD / JPY and AUD / USD.
3. How Likely Is It To Make Money With Forex Currency Trading?
It would be unrealistic to imagine that you can start making money by trading manually if you are a beginner. Forex trading requires skill and a lot of patience and discipline. Start off by learning some trading systems and executing them on a demo account before opening a live account.
4. Always Be Prepared With A System And Know When To Exit
Before you even start trading, you should figure out when you will enter into a position, and under what circumstances you will exit your position. Do not decide only after you have started trading or you will find yourselves making rash decisions.
If you have less experience with Forex trading, I would highly recommend you to start with automated trading robots. Nowadays, I use trading software that trades Forex and makes money for me automatically. You can find out more about it at the website link below.
Are you interested to find out more about the automated Forex trading software? Read the author’s review of the Top 5 Forex Trading Systems on the web at http://www.review-best.com/forex-trading-robots.htm first!
The author has found a 100% automated Forex Trading Robot that is making him over 20% returns on his capital every month. CLICK HERE to find out about it!
Tags: account, Ali, Ally, Aud, automated forex, automated forex trading, Automated Forex Trading Software, automated trading, broker, capital, changing hands, cia, circumstance, circumstances, ck, currencies, currency, currency market, currency pairs, currency trading, decisions, demo, demo account, discipline, Dollar, Fi, financial, forex, forex currency, forex currency trading, forex market, forex trading, forex trading software, forex trading strategies, forex trading system, forex trading systems, futures, futures market, hard earned money, inc, Irs, Jpy, lot, Make Money, making money, market, money, pairs, patience, pita, rash, Rate, Review, risk, robot, robots, s market, sit, Software, stock, stock market, target, trades, trading, trillion
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Thursday, October 23rd, 2008
A popular way to segment customers is by revenue or profit generated, with “A-list” customers receiving more perks and personal service than “lower” categories. There are right and wrong ways to do this.
Doing it right means cultivating customers so they all feel appreciated, by developing or improving products to meet each customer segments’ needs. Result: pleased customers and higher profit.
Doing it wrong creates risk of sub-standard service for “unimportant” customers, making them feel unappreciated and resentful. Result: missed profit opportunities and disgruntled customers.
Brand Image
When deciding how to service each customer segment, remember that every point of contact with a customer reflects on the brand, regardless of customer “importance.” Over time, this has an impact on brand image and company reputation.
With the Internet so prevalent today, each individual has more power to voice his/her opinion than in times past, which directly impacts brand image and goodwill associated with the name. Each mistreated customer has the means to tell the world of her/his experience on Web sites that allow reviews (such as bizrate.com and Amazon.com) and online discussion forums.
An Example of Bad Service From the Customer Viewpoint
The way each of my credit card issuers treats me is a prime example. I always pay my bill in full (often early) and belong to the “cash back” rebate programs, so I imagine I’m in a similar customer segment for each and would expect to be treated similarly by these three competitors.
Not the case. Two of the companies make me feel like a valued customer. The third made me feel so unappreciated I closed the account. How the three companies handle “suspicious” activity on my account demonstrates the varying degrees of service:
- Discover card has a fraud specialist (or customer service representative) call me in person to ask that I review recent transactions with her/him.
- Citibank’s computer calls me with an alert, asking that I call a number or go online to verify transactions through a computerized process.
- Advanta locks the account and sends a letter informing me they have done so. In my experience, the letter arrived a week after the incident and I was not notified by telephone (I called them when the “offending” vendor notified me of the decline). I asked customer service to allow future charges from that vendor, but they could not do so. Presumably, this meant an account freeze each time my authorized vendor attempted to process a legitimate charge.
All three of my card companies require that I take some sort of action to verify suspicious charges, which is to be expected. The approach, however, leaves a very different impression. Citibank and Discover both apologize for the inconvenience of transaction verifications and — while I have to go through an extra step with Citibank — both fall within my subjective definition of quality customer service. Advanta, however, does not apologize for the hardships of declined transactions and a frozen account.
To be fair, I do not know that my negative experience would have been handled differently if I were in a more profitably customer segment. It could have been result of badly trained customer service representatives, or perhaps this is standard procedure on all accounts.
Tips for Segmenting Customers Without Sacrificing Service
Customer segmentation is a good thing. It helps you recognize how customers are different and it should draw your attention to needs of different segments, prompting you to better meet those needs. Some ideas on successful segmentation:
- Segment by need rather than profit or revenue. A low-profit customer today could be high-profit tomorrow if you offer products and services that fill her/his needs.
- Look for ways some customer segments can effectively be more “self-service,” which cuts costs for the company while meeting customer service needs.
- Build in ways to create exceptions in automated customer service processes, so as not to alienate those with special situations (in my example, by allowing a way to pre-authorize account activity).
- If offering promotions, rewards, or other incentives to some segments but not others, “spell it out” for customer service representatives and structure your Web site and promotional mailings accordingly. By taking steps to assure customers receive consistent information across all channels of communication, you avoid customers being exposed to offers for which they do not qualify.
There are ways to segment customers without lowering customer service. By doing so effectively, you nurture business growth and reputation.
Bobette Kyle draws upon 15+ years of Marketing/Executive experience, online marketing experience, and marketing MBA as inspiration for her writing. You can find more of her free marketing planning articles at her marketing plan site, WebSiteMarketingPlan.com
Tags: account, acts, Ali, amp, Ast, Aud, bank, bet, bett, business, cash, cia, ck, Competitor, contact, convenience, Coul, credit, Credit Card, customer service, dea, Decline, demo, Diffe, discover, ears, Eek, ego, ema, Exceptions, Fi, fit, forums, fraud, Fre, free marketing, Gr, gre, inc, informat, IRA, letter, locks, Mai, mail, market, marketing, marketing plan, Nap, oic, Personal, point of contact, profit opportunities, Rate, Regard, rent, reputation, Review, Rewards, risk, segment, sit, Spell, target
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Thursday, October 23rd, 2008
Currency trading, or Forex trading as it is generally known, is the act of exchanging one country’s currency for another. The way currency trading works is simple. You exchange the currency for better rates than they were before and therefore make money on the transaction. All currency traders are dreaming of learning new ways to make more money out of currency trading and many e-books out there promise to make them a truck of money with currency trading.
Now, many people have been complaining about this type of trading just being another scam that people use in order to get money for e-books, but at the same time it is important to realize that Forex trading is a legitimate type of investment that people use every single day in order to make a lot of money.
In general, there are far fewer scams online than you would think from reading the angry forum posts or e-mails of people that have misunderstood the instructions and ended up performing badly as a result. While nobody in their right mind would say that there are no scams online, the actual act of Forex trading is by no means a scam. Some of the e-books that are offered on the topic might very well be scams and that is definitely something that you need to guard against.
I am not saying that there are no good currency exchange e-books out there because it’s not the truth. However I suggest you use caution when you have to pay for that kind of e-book. Better to be safe than sorry.
So, how do you figure out whether a particular Forex system is a scam? Well, short of buying it and trying it out on the free version of Forex trading software offered by many companies, there is not much that you can really do. This is why before you buy a Forex system e-book, you need to make sure that there is a no questions asked refund policy behind the purchase so that if you find it doesn’t work, you can easily return it and get your money back. Most of the people that sell products of that type do include refund policies, but make sure that you know before you make the purchase that you can get a refund later on down the road.
Another good way to understand if a particular e-book might be a scam is to read up on Forex at the local library or in financial circles, thereby understanding exactly what Forex trading is and how it can make you money. If you do this and you understand what the experts are doing to make themselves money, you’ll be better prepared to determine whether a particular e-book might make you money. However, you should never be hesitant to buy and try if there is a refund policy in place, because you can always get your money back if the system does not meet with your expectations.
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