FEATURE PAPER

In Sync With What You Want! A Case Study

This paper was written by Malavika Sundararajan, from North Carolina Central University. This paper was presented at the 2012 USASBE Conference in New Orleans, Louisiana.

Abstract

SYNCSTUDIO is a small family (and friends) owned fitness studio established in May 2010. By bringing forth the various characteristics of the founders and entrepreneurs, the case describes how the founders recognized an opportunity and turned it into a lucrative new venture. The case presents the journey of Ashley Lively, from the time she was a young student to the present day where she is the Vice-President of Operations. It shows how Ashley was able to realize her innate entrepreneurial abilities, with the help of her family and friends that ultimately led to the successful establishment of their company.

(Read Entire Paper)

TIP OF THE WEEK

Positioning

The development of any marketing mix depends on positioning, a process that influences potential customers' overall perception of a brand, product line, or organization in general. Position is the place a product, brand, or group of products occupies in consumers' minds relative to competing offerings. Consumer goods marketers are particularly concerned with positioning. Procter & Gamble, for example, markets 11 different laundry detergents, each with a unique position, such as allergen-free, softening, or ultra-concentrated.

Positioning assumes that consumers compare products on the basis of important features. Marketing efforts that emphasize irrelevant features are therefore likely to misfire. For example, Crystal Pepsi and a clear version of Coca-Cola's Tab failed because consumers perceived the "clear" positioning as more of a marketing gimmick than a benefit.

Effective positioning requires assessing the positions occupied by competing products, determining the important dimensions underlying these positions, and choosing a position in the market where the organization's marketing efforts will have the greatest impact. SuperJam positions itself as superior to other jams because it is 100 percent fruit, has no sugar added, and is made with super fruits such as blueberries and cranberries, which boast added health benefits. The recipe also comes from the creator's grandmother, adding a homespun element that separates it from other jams. As the previous example illustrates, product differentiation is a positioning strategy that many firms use to distinguish their products from those of competitors. The distinctions can be either real or perceived. Tandem Computer designed machines with two central processing units and two memories for users who cannot afford for their computer systems to be down or databases to be lost (e.g., an airline reservations system). In this case, Tandem used product differentiation to create a product with very real advantages for the target market. However, many everyday products, such as bleaches, aspirin, unleaded regular gasoline, and some soaps, are differentiated by such trivial means as brand names, packaging, color, smell, or "secret" additives. The marketer attempts to convince consumers that a particular brand is distinctive and that they should demand it over competing brands.

Some firms, instead of using product differentiation, position their products as being similar to competing products or brands. Two examples of this positioning are artificial sweeteners advertised as tasting like sugar and margarine tasting like butter.

ANNOUNCEMENTS

USASBE

USASBE will be hosting their 2013 Conference during January 10-13, 2012 in San Francisco, CA. For more information,click here.

ICSB

The International Council for Small Business will be hosting their 2012 World Conference during June 10-13, 2012 in Washington, D.C. For more information,click here.

Allied Academy

Allied Academy will be hosting 2 upcoming conferences soon. The Summer International Internet Conference will be held during July 24-31, 2012. And the Fall International Conference will be held during October 10-12, 2012 in Las Vegas. For more information,click here.

New SBI Website

We are excited to inform you the new SBI website is Live and Ready!

Now that the website is up and running, there are a couple of housekeeping items that need to be addressed. Please read below:

Password: One of the key features of the new website is that it allows members to set up a personal password..Don't worry if you forget it you can also reset it. Please click the following link to reset your password: http://smallbusinessinstitute.biz/Sys/ForgottenPasswordRequest.

Profile: Another one of the key features is that you will now have access to update your profile information at any time. Please review your profile and make changes as needed.

E-mail: Due to the change of website providers the @smallbusinessinstitute.biz emails are no longer active. If you need to reach the board members or administrative staff you can find contact information on the CONTACT US tab or click here.

As Mike Harris stated in his announcement earlier this week, we want to do a better job of promoting the success of our members. Please send us your recent accomplishments, articles or good news, so we can share it with all SBI members.

We invite you to visit the new and improved website http://smallbusinessinstitute.biz/, tell us what you think!

SBIJ Journal

The Small Business Institute® Journal has just published its latest issue at www.sbij.org. We invite you to review the Table of Contents here and then visit our web site to review articles and items of interest.

International Journal of Business and Social Science

The International Journal of Business and Social Science is now taking manuscript submissions. All manuscripts must be submitted electronically through the e-mail to the editor at editor@ijbssnet.com, or editor.ijbss@hotmail.com. For more information,click here.

ICSB 2012 Public Agencies Forum

How can government bodies - such as policy departments, advisory services, regulators and service agencies - develop the most effective means of engagement, communication and information sharing with small businesses?

CONFERENCES

CALLS FOR PAPERS