Feedough Community Latest Questions

Manushree Mishra

  1. Hi Manushree, I think its vital for every startup to bootstrap because of plenty of reasons. If you know then bootstrapping is getting a lot done on very little cash, what more can be important for early stage companies. Bootstrapping is an essential first stage because it demonstrates the entreprenRead more

    Hi Manushree, I think its vital for every startup to bootstrap because of plenty of reasons. If you know then bootstrapping is getting a lot done on very little cash, what more can be important for early stage companies. Bootstrapping is an essential first stage because it demonstrates the entrepreneur’s commitment and determination to keep the company focused. It allows the business concept to mature more into a product or service and gives the concept a chance to be vetted by the market.
    Bootstrapping gives you a charge to make your own decision. You focus on making money, not on what to do with the money you have. It guides you into not wasting money if its not for the good of business and you focus on a path to income.
    Also potentially, you don’t have someone that will interrupt you with their ideas.

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Aakash

  1. Although its true that the first movers are always ahead in the business by being ahead of the competition with new products, companies gain first-mover advantage: they capture market share, establish a premium, are seen as a pioneer and build brand loyalty. Still there is a clear advantage of beingRead more

    Although its true that the first movers are always ahead in the business by being ahead of the competition with new products, companies gain first-mover advantage: they capture market share, establish a premium, are seen as a pioneer and build brand loyalty.
    Still there is a clear advantage of being a late mover or last mover. The late-mover advantage means that followers can learn from pioneers’ mistakes, see whether there is a market worth entering and judge consumers’ tastes. As well as learning from others’ mistakes, followers can benefit from their investment in raising awareness of a new market before moving in.
    Last-mover is also the tried-and-tested strategy of retailer brands. Own-label relies on branded suppliers investing in marketing to establish a new category before retailers come in with a lower-priced version.

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Amruta

  1. To gain a sustained competitive advantage over the rival firms, Porter came up with 4 generic strategies as explained below: 1. Cost leadership: It is a strategy to become the lowest cost producer. Cost leadership is achieved by firms through economies of scale. They produce in large volumes and henRead more

    To gain a sustained competitive advantage over the rival firms, Porter came up with 4 generic strategies as explained below:
    1. Cost leadership: It is a strategy to become the lowest cost producer. Cost leadership is achieved by firms through economies of scale. They produce in large volumes and hence their production cost decreased. Businesses that are into offering of standard products without much customization opt for this strategy.
    2. Differentiation: This is a strategy where you position yourself as a business offering a unique product over your rivals. In differentiation strategy businesses usually charge their customers a premium amount because the offering is unique.
    3. Cost Focus: Here businesses focus on smaller markets and with a basic product offering which already exists at a higher price range. With this strategy they target smaller markets and at a lower price.
    4. Differentiation Focus: With this strategy businesses focus on niche markets with their unique offerings. The market segment is small, price charged is premium and the product offerings are customized or unique.

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prashanth0011

  1. Onboarding is the systematic process of offering essential information to the new employees to make them psychologically and emotionally comfortable in the organization. Why conduct onboarding program? 1. To get done with the initial paper work for employees and to extend a formal welcome in the orgRead more

    Onboarding is the systematic process of offering essential information to the new employees to make them psychologically and emotionally comfortable in the organization.

    Why conduct onboarding program?
    1. To get done with the initial paper work for employees and to extend a formal welcome in the organization.
    2. To provide employees with the basic information about organization’s infrastructure and facilities that they provide.
    3. To align employees with organization’s priorities and its mission and vision.
    4. To socialize with existing employees.
    5. To make the aware of the prevalent work culture in the organization.

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rayon

  1. Bootstrapping refers to building something from nothing, not technically nothing but yes starting from level zero where an entrepreneur does not have outside cash or other support launches. They just enter into building a business with personal savings, the cash coming in from the first sales and yeRead more

    Bootstrapping refers to building something from nothing, not technically nothing but yes starting from level zero where an entrepreneur does not have outside cash or other support launches. They just enter into building a business with personal savings, the cash coming in from the first sales and yes luck!
    Bootstrapping is a computer process and the word bootstrapping has come to be used for a variety of other self-starting processes. It describes the creation of complex software programs in successive and interdependent stages. The term “booting up” for starting up a computer’s operating system may come from bootstrapping.
    Watch the video below to get a better understanding.

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usha69

  1. Some distinguishing factors between a marketer and a marketeer are listed below: 1. A marketer is a person responsible for creating an involvement chain between customer and the product or service offered by the company. Activities may include maintaining stock, creating awareness about the product,Read more

    Some distinguishing factors between a marketer and a marketeer are listed below:
    1. A marketer is a person responsible for creating an involvement chain between customer and the product or service offered by the company. Activities may include maintaining stock, creating awareness about the product, etc. On the whole a marketer is somebody who is responsible for everything related to marketing.
    Marketeer is somebody who is focused on each customer and tries to build a one on one relationship between the brand and the customer.
    2. A marketer works on strategies to expand market and also come up with product offerings to be able to cater to the market.
    Whereas a marketeer makes optimum use of customer’s time and tries to influence their decision to buy the product.
    3. Maketer’s approach is holistic whereas marketeer’s approach is individualistic.
    Here is an article to help you more on this topic: https://www.feedough.com/what-is-a-marketer/

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Aakash

  1. Customers churn is a very unavoidable business crisis. Its just like how a flower starts to go dull and eventually die in sometime, you can't remove this problem but yes you can analyse and reduce it for the good of your business. Firstly you need to if the customers you are targeting for are reallyRead more

    Customers churn is a very unavoidable business crisis. Its just like how a flower starts to go dull and eventually die in sometime, you can’t remove this problem but yes you can analyse and reduce it for the good of your business. Firstly you need to if the customers you are targeting for are really your customers and by which I mean that you are clear about your target market and your customer base. Its necessary to attack the right customers otherwise they won’t stick by for a longer period of time. Secondly, there could be a problem with your products or services. It means that customers aren’t satisfied by what they are getting from you, in that case they have alternatives and as an aware customer they would want to switch to an alternate option.
    Again knowing that there is competition everywhere and if you don’t add a value to your product, then the customers would go for another brand which is offering them a better product or service. Hence its very necessary for a business to make the customers value its product.
    And lastly apart from all these factors, we know what highly affects the demand and supply, its price, right?
    Customers would not entertain an unreasonably higher or lower price and that could lead to customer churn.

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Prachi

  1. Sales is a short term process of generating revenue for business by selling the products to customers. Business development is a long term activity aimed at creating value for business through strategic opportunities. Sales and business development are different from each other in the following waysRead more

    Sales is a short term process of generating revenue for business by selling the products to customers.
    Business development is a long term activity aimed at creating value for business through strategic opportunities.
    Sales and business development are different from each other in the following ways:
    1. Sales is a transactional activity whereas business development is aimed at developing long term relationships.
    2. Sales team focuses on the end customer and business development team focuses on all the stake holders.
    3. Sales team operates to increase sales volume whereas business development team develops plans and strategies by analyzing the competitors and market.
    4. Sales team focuses on increasing sales and business development team focuses on promoting business and facilitating growth.

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Pallavi Kamat

  1. Freemium as the name suggests is a combination of the words "Free" and "Premium". A freemium business model is a model where the basic features are provided free of cost and you have to pay a small fee if you want to use the advanced features. Note freemium and premium are two different strategies.Read more

    Freemium as the name suggests is a combination of the words “Free” and “Premium”.
    A freemium business model is a model where the basic features are provided free of cost and you have to pay a small fee if you want to use the advanced features.
    Note freemium and premium are two different strategies.
    Some of the well known apps that use freemium business model are LinkedIn, Candy Crush, Youtube Music, etc.
    In a freemium business model, it is observed that only 5% of the total user base opts for advanced features and their payment is what acts as revenue for the company and also supports the remaining active users of the app.
    Since the payments are real small amounts, the user does not mind opting for it and keeps continuing the service.

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Sarah Harris

  1. This answer was edited.

    Writing good content is not an easy task. But, if you want to write a Wikipedia page, there are lots of pros and cons that you need to consider. Make sure your content must be written as per wiki page creation guidelines. Once you thoroughly understand the criteria of wiki content it helps you to coRead more

    Writing good content is not an easy task. But, if you want to write a Wikipedia page, there are lots of pros and cons that you need to consider. Make sure your content must be written as per wiki page creation guidelines. Once you thoroughly understand the criteria of wiki content it helps you to compose seamless content without hassle. According to Wikipedia page creation agency, you have to make your grip strong on content creation criteria. These will help you in creating valuable content. Use simple sentences, convey brand information, not your emotions. Also, consider objectivity and content verifiability. What do you think?

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