Tag: Strategies

  • READING SKILLS: READ EFFICIENTLY AND INTELLIGENTLY

    READING SKILLS: READ EFFICIENTLY AND INTELLIGENTLY

    Reading is very much necessary in life; also, we should know the correct strategies to read intelligently. By reading this blog you can improve your reading skills. Let’s Go. 

    WHAT’S IN IT

    The Essentials of the Skill of Reading

    Reading is always good for our minds. Reading is undoubtedly the most healthy practice and exercise for a practical reason. You might have heard about the quote:

    READERS ARE LEADERS

    This quote is very actual for reading, irrespective of the medium you opt for reading or how you’re following to read about any purposeful and meaningful things. It doesn’t matter which medium you’re taking: a blog, a book, a magazine, a newspaper, or any report, etc., but the intake of good content in any manner is always worth spending time.

    a man reading to improve reading skills

    Reading is a skill. It’s an art that can be learned. Many reading strategies can help you read efficiently and to read effectively while reading intelligently at the same time. Reading effectively means reading in a way that helps you understand and evaluate.

    These skills are essential for any humans irrespective of the age group they are into, and most importantly, Students, no matter what field they’re going into: ’ll be doing a lot of reading. The more effectively you read, the easier it’ll be, the less time it will take, and the more you’ll enjoy the experience.

    Common Reading Techniques

    Reading is a tool that opens the door to many ways and also for many career options. So reading efficiently and effectively is an art that should be learned. There are many reading strategies and techniques which are to be known to read efficiently by reading intelligently.

    • Below are some of the critical reading skills and techniques that are usually followed by people who found reading efficiently:
    • Engage in pre-reading strategies before starting to read.
    • Start by creating an optimal setting to read. A healthy environment is always a better choice to reduce the chances of distraction.
    • Always choose the best time, place, and conditions.
    • Research and investigate the content if you do not understand it completely.

    Ways and Techniques to be followed to become a Better Reader

    Reading Efficiently by Reading Intelligently is another art that requires some extra skill set and techniques to be followed. Let’s dive deep into the ways to be a better READER.

    1. Know What You Are Searching For:

    Before breaking into any book or an article, always take a few minutes to read Introduction or Preface and browse through the content section. That initial preview time will help you understand the author’s approach to the topic.

    Study all the titles, subtitles, pictures, charts, graphs, etc., to understand the clear vision and the framework of the ideas that will help you connect the details later. It’s like starting up an engine.

    2. Actively:

    Do not just passively slide your eyes over the content, but engage in the text actively and try to understand the actual scenario by finding answers to your questions. Be careful, so you do not end up skimming and missing other important information.

    3. What You Read:

    Analysis of the content which you’ve read so far just after you’re done reading is also essential to make the content digest properly. It will help you memorise and retain the content better.

    a man can visualize after analyzing what he is reading

    4. Key Concepts:

    Once you’re done understanding the textual content, and you’re ready to summarise it in your own words, now you have to record the content in some manner, be it making a color code, highlighting or marking the text, or by just simply taking notes. You can choose the method which works best for you but just needs to stick to the same. It’s essential to read and understand the text first, and then go back and make the notes or record. Never forget to review the content you recorded; a regular review period (usually once a week) is an incredibly effective strategy for retaining the information you consumed.

    5. Connections:

    Making Connection is something that is the core of effective reading strategies. At any odds, when the text doesn’t make sense, you can try and make meaningful connections to make sense of it.

    6. Visualize:

    This is the practice of Visualizing the information you are grabbing to understand better what you’re reading. It’s pretty effective to make visual representations of what you’re reading as it might look like picturing the content you read. It is pretty similar to creating an image of the process in your mind. This will ultimately help you remember not only what you read and understood, but also you can relate it as it is functioning.

    Do we get better at reading by reading more?

    The common question which could come up in your mind at this time is –

    “Do we get better at reading by reading more?”

    Absolutely yes, the more you read, the better you become at it as you will learn the patience to read. It has many other advantages and will help you improve your vocabs also at the same time; it will push your wisdom.

    read more to improve reading skills

    Some Reading Tactics to follow

    At this time, there are so many tools and tactics for being a better and effective reader and improving reading skills to read efficiently. There are specific points and things you need to be sure of before getting involved in reading anything via any medium, be it offline sources like books, magazines, etc. or an online medium like articles, blogs, e-books on your mobile device, Kindle device, etc.

    If I had to summarise the content, then specific basic reading strategies are to be taken care of while reading to read intelligently and smartly:

    1. Know What You’re Reading.
    2. Secondly, Analyze What You Read
    3. Increase Your Understanding
    4. Active Reading Is Must
    5. Maintain the specific environment around you
    6. Skimming & Scanning Should Be Avoided
    7. Recall & Review The Text You Read
    8. Make Connections & Visualize to memorise better

    Books that’ll help you improve your reading skills

    There are several books that you can look to enhance your reading skills. All those books have some excellent techniques that’ll help you in improving your reading skills. But, here, I’m sharing with you two excellent books that I think will be best for you if you want to take your reading skills to the next level. These two books contain some efficient and easy techniques you can follow to read anything faster and even with better understanding. Have a look at these books!

    How to Read Better & Faster: 

    How to Read Better & Faster is a book that teaches several Reading techniques that’ll help the readers increase their reading speed and retention time with better understanding. Reading faster isn’t just mean that counting for how many words someone can read in a minute or a particular time frame. What reading faster actually means is how much a person reads and understands in a specific period. In this book, the author, Norman Lewis, explains some efficient ways for a reader to improve his concentration and concept retention. So, these books can be constructive to improve your Reading skills.

    Reading Development and Difficulties: 

    So, reading is not just a single skill, but it is a lot more. Reading is a combination of different abilities that coordinates to make the reader understand things faster. Likewise, in this book, author Kate Cain gives some valuable ways to develop reading skills and make them better and effective. Along with explaining such practices, the author also explains the difficulties that many people face in reading. The author also tells about the quick actions that one can take to avoid those difficulties.

    Conclusion

    Reading is an Art. Not reading, but compelling reading is a good word that focuses primarily on understanding and retaining in his mind after reading. In this blog, I’ve tried to explain everything about Reading skills, tips, and techniques to improve your reading skills and the books that you should look for to develop excellent reading skills. Now, as you read the entire blog, you can start your journey of compelling reading. All the Best!

    Also, you can read our blog on Six Ways to build communication skills

    FAQ’s

  • 4 International marketing strategies. Complete guide

    4 International marketing strategies. Complete guide

    As technology is getting advanced, and due to this communication, transportation, trading has become very easy and spread their business in the global market.

    Also, According to the World Trade Organisation, from 1951 to 2010, international trading has reported growth 33 times.

    Many big brands have already grown tremendously in the global market due to globalisation.

    So, Here you will get a complete guide on International marketing. Also, read marketing strategy if you wish to spread your business globally across the national borders. 

    What is International marketing?

    International marketing is defined as the application of marketing principles to promote a product or service in more than one country and Global marketing tasks like goods and services, promotions, planning, etc. are included.

    Is a degree in international marketing worth it? | Edology

    In the latter case, marketing in more than one country is International marketing. Moreover, commerce domestically and internationally is the same. So, International marketing is not a new concept, and it’s the same as domestic marketing.  

    Objectives of International marketing

    International marketing is viral nowadays due to the ease of doing business globally. But, in the global market, there is more competition due to the enormous demand. So, You need to focus on all factors from the company to trade in the International market. 

    Meanwhile, The main objective of international marketing is to satisfy the needs of global customers. However, the following are factors that are the attraction of many businesses.

    • International marketing is the attraction of businesses because of Increased Economic sales.
    • Huge Market share.
    • Huge profit due to more significant opportunities in International marketing.
    • More profit as compared to domestic markets.
    • So, The international market is untapped. 
    • The life of the product is elongated.

    It’s essential to globalise your products and services due to huge profits in untapped markets. Internationally, there is more scope for businesses than the local market. 

    1. Licencing Arrangements

    The company under the system establishes arrangements for foreign firms. Also, international firms get to use the exporting company’s rights. Also, Rights like Patents, trade, secrets, know-how, etc. for a decided fee are used. 

    A Response to the Alternate Interpretation on Permissibility of Sub- licensing under Indian Trademark Law | SpicyIP

    Patent licensing includes the use of trademarks according to terms of the agreement. 

    Consultancy services

    So, The exporting companies provide Consultancy services in foreign countries. Hence, They send their consultant to guide and direct manufacturing activities. Due to international marketing, Consultancy is in demand. 

    Wholly owned manufacturing

    A company that is long term interested in foreign countries trade and Such companies are wholly-owned company. Stocks are 100% owned by other countries of a wholly-owned company. 

    Buy a company

    Meanwhile, The most straightforward strategy for International marketing- Buy a foreign company.

    Suppose you don’t want to go through the long process of creating a company. You are establishing a company in the local market. Then buying a company would be a good option for you. Like the company, you would have already spread in the domestic market, so you have an advantage here. You are hiring a company in a foreign land how both up and downsides.

    Ups of Buying a company
    • As soon as you buy a company, you immediately claim market share.
    • So, You already have a customer base and brand image.
    • The government will treat you like a local firm. Also, if there are any rules for you, then also you have low Competition.
    Downs of Buying a Company
    • Also, It’s costly; you have to pay a large amount of money.
    • You need to check why the owner is selling you the company.  Also, consider the impact of the current owner on the company.
    • If the business has some downs, then you need to solve them. Additionally, if any investments are required, you need to consider that also.

    Characteristics of International marketing

    1. A broader market is available for international marketing. There is no boundary for marketing and providing facilities. 
    2. Competition is intense- Due to Competition globally, Competition is high. You have to compete with global companies. 
    3. Uncontrollable factors- The international market is affected by uncontrollable factors. Factors like political and geographical. These factors can change from place to place, and you should learn to deal with these variables.
    What is International Marketing? definition and meaning - Business Jargons

    Controlling all factors in International marketing is not possible as you don’t have control over International factors. To control those factors, you need Marketing Managers. Also, you need experts who have enough experience in the field. International marketing managers will help you in this situation. It will help to get out of cases that are out of your hands. To tackle such things, you need to alter elements like product, pricing, distribution, administrative laws, etc. 

    Need for broader competence

    Simply, if you want to survive in the International market. Then you need more expertise and skill management. Due to the immense opportunities in the market, you need to tackle many situations. You should know to handle situations like change in government strategies. Also, change people’s mindset.

    High risk and challenges

    It needs thorough market research. It has tangible dangers and difficulties. Many factors should be considered for International marketing. Factors like Political, regional, cultural differences, etc. should be the same. You also have to control the import and export of products according to country economic status.

    Time-consuming and Lengthy

    International marketing activities are slow; the leading cause of these is local laws and policies. 

    Marketing strategies for International marketing

    What type of customers to target in the International market?

    Before entering an international market, the most important is to research your customers.

    Target Marketing and Market Segmentation

    Foreign customers have a different buying habit, modified preferences, and choices. You need first to identify their need and then try to market them. Consider Cultural beliefs and prejudices in international marketing.

    Challenges in International marketing

    Tariff Barriers

    Tariffs are the taxes and duties imposed on guest marketers. If the fare is high, then it would be challenging to earn adequate profits while selling. Sometimes to promote domestic products, some countries have high Tariffs to prevent International marketing. You have to consider high Tariff rates for various categories of products.

    The political barrier in International marketing

    The political environment plays a significant role in international marketing. You need to consider political stability before entering a market. 

    Some countries may have different political systems and different economic systems ( market economy, mixed economy, etc.). Political instability in some countries may pose a challenge to international marketers. 

    Firewall': From a Physical Barrier to a Political Safeguard - WSJ

    For international traders, some governments have different priorities, philosophies, and approaches. 

    Besides, the long term trend is unpredictable in the global political environment. 

    The slow growth of Developed markets

    It’s a fact that developed markets are facing a slow growth rate in the past few years. On the other hand, Asia, Africa, and Latin America have shown an increase in development. 

    2. Demographics

    Demographics is an essential factor in international marketing. As you know, emerging markets have a population with younger people, on another hand; western developed countries have aged population. And in international business, we need to focus on both emerging and developed countries, so it’s a big challenge.

    Increased Competition

    As the market is enormous Competition is also very high. In the International market, you need to compete with global competitors. You need to focus on expertise in the International market.

    Variation in Exchange rates

    Every nation has it’s own economies and currencies. Indian Rupee, European Dollar, US Dollar, Japanese Yen, etc., need to be exchanged for trade. 

    Cultural diversities

    If every country they have their unique civilisation and culture. International marketers should consider cultural and social diversities.

     Globally, customers have different buying habits, different consumption, and buying capacities. They have different preferences, languages, and different nationalities are real challenges to understand and incorporate. 

    You need to have expertise in market segmentation, product designing, distribution, and much more. 

    Cultural Diversity Key To An Innovative Workplace

    Language is also a significant barrier; there are around 6000 languages in the world. 

    Mostly English is considered a Business language. 

    1. The difference in climatic conditions and change in the ecological environment. 
    2. Norms ethics and corruption also need to be considered. Every country has its ethics and values of the business. Also, they are reflected in rules and regulations.
    3. Economic conditions around the globe.

    How to overcome International barriers

    • Choose a different market or export products that are not affected by trade sanctions
    • Export and import barrier

    Select a different market that has low trade sanctions and develop other goods or services to trade.

    • Traffic and taxes barrier

    Choose value-added activities such as after-sales. After-sales services are not subjected to tariffs. Also, you can partner with an organisation or firm that will provide you with goods and facilities.

    To avoid tariff taxes, start manufacturing goods in the target market so that you don’t need to import products.

    • Tariff and quotas

    Try to export in a different market where you are not subjected to quotas. Try to produce in the target market to avoid import.

    • Government subsidies

    Government subsidies will give you more appeal and justify an enhanced price. Try to develop more value-added activities.

    What is Subsidy? - The Financial Express
    • Trade blocs 

    Partner with an organisation or set up a subsidiary organisation in the chosen market. Invest in production to avoid the need to import.

    • Political barrier

    Stay for short term- No one can predict political stability in any country, so enter a market for a short time. Don’t locate facilities and employees in a state. Also, before delivering goods or services, always request for cash or confirmed letter.

    Major participants in International marketing

    Due to globalisation and ease of doing business, many small companies are participating in international trade. The first decision of a company is to go global or not. As you have to decide whether to opt internationally or not is entirely dependable. 

    Because due to the vast market and profit competition is also great and you need to learn new laws in the international market. 

    But big companies manage to tackle those problems. Thus, major participants in the International marketing are: 

    Multinational corporations (MNC’s)

    Multinational corporations (MNC’s) corporate and controls the production of goods and services in many countries than it’s home country. MNC companies earn more than25% of its profit from out of the home country. MNC company carry out the following tasks:

    • Import and export goods and services
    • Buy and sell licenses in foreign markets. 
    • Invest in foreign countries
    • Engage contract manufacturing
    • Opens facilities for manufacturing and controls operations in foreign markets.

    Exporters

    Exporter sells products and services overseas across their home country for extra profit. Exporters should compulsorily follow jurisdiction. 

    Exporters facing difficulties post-GST due to late drawback refunds: E

    Importers

    Importers are buyers who buy products and services overseas. When other countries export services or products, exporters buy them.

    Services companies

    These companies provide services in other countries based on specialised knowledge. They help in coordinating with companies internationally for smooth business. 

    Examples of International marketing

    Worldwide many companies have achieved tremendous success in the International market. These companies used International marketing strategies to grow globally. To achieve success like them check out how they made it and how-

    McDonald

    McDonald’s is a global brand, and it’s very successful internationally. They have done a great job abroad, and McDonald’s has many franchises around the globe. 

    McDonald’s did extensive research before entering any market. They make changes according to the customers in the market. International marketing is all about satisfying your customer’s needs, and McDonald knows it better. McDonald’s focuses on marketing and its food. They modify their menu according to the market and bring local flavour on their menu. Internationally in every country, they have different tastes in their list according to local choice and preferences. 

    In the Indian market, they modified their menu and brought Indian flavours for the Indian market and stuck to a 40% Vegetarian menu. In the Philippines, they added McSpaghetti according to their taste and choice. To dominate the International market, you also need to take steps as McDonald’s did. 

    Redbull

    Redbull gas achieved great success globally. It has become a loyal brand due to the trust of its customers. 

    Vitalizes Body and Mind.® :: Energy Drink :: Red Bull International

    Redbull always uses tactics and host events and sports events globally. By hosting different activities, especially sport’s events, Redbull us targeting its customers, we smartly through International marketing.

    Dunkin Donuts

    Do you know Dunkin Donuts? Who doesn’t? 

    It’s a trendy brand all over the globe. It’s a multinational company for baked goods and coffee; it serves more than 3 million customers globally. 

    It has a variety of doughnuts and beverages and breakfast options.

    Conclusion

    Before you scale up your business from parent country to other several countries, you must
    follow the legal rules of that country. Find the problems faced by the people of that country and how your product actually solves that problem and also identify the various questions related to your product and the buyer persona
    of that country. Adopt the country culture and the language and prepare yourself for that
    atmosphere.
    Last but not the least, hiring good talents is another challenge because without a good talent
    scaleup a business in a new country is not possible.

    FAQ’s