SMME NEWS - SEPT 2016 ISSUE

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SMME NEWS 4 15 September 2016 Nonto’s Business Corner Global design and Business Diary as supplied by iLembe Chamber of Commerce innovation experts Fjord USTOMER expectations are driving a rapid change across the consumer goods and services industry, increasing the demand for innovative goods and services. This is the new wave of customer experience disruption a development Fjord call Living services. Global Design and innovation Experts Fjord believe that living Services result from the “digitization of everything and Liquid Expectations”. Currently we are in the mobile era with everything having to do with our cellphones, but according to Mark Curtis Co- founder of Fjord “We are steadliy heading towards the third era of digital and we call that era living services”. What this entails is the digitalization of even the most basic of things like doors which can become digitized so that data can Some issues brought up in seminars hosted by Google and Multichoice was the responsibility of media in representation, touching on how black people (especially women) are often portrayed in adverts as people who talk loud overly, dramatically and dance for everything, from chicken to airtime, as well as the challenges faced by women within the advertising industry. This emanated from creative week held in Inkosi Albert Luthuli International Convention Centre (ICC) in Durban in August, showcased the creative industry with master clases from trailblazers within the brand communication industry. The awards cermony also gave accolades to visionaries in the marketing, visual media, art and graphic design space. By far the most impressive showcase was from the novice represented by various groups of students from D.U.T city campus, VEGA and AFDA. Their seemingly advanced skills displayed in areas of branding, film and art was very impressive. What made the students creative works more impressive was how in touch they were with needs of the nation of South Africa.They used their work to create a dialogue on issues of Racism, tribalism, sexuality, be collected from it to make them more effective, a more current example is how Apple took a simple watch and created the Apple watch. Liquid Expectations form when customers experience a great convenient service in one area and expect to recieve that same experince from across the board. So if you are Gym owner you are not just competing with other Gyms and other industries within the health and fitness mood, now you need to look at what other people are doing in completly different industries such as Taxis,travel and technology.Take a look at how people can now get out of a vehicle without paying because the payment has already happened instantly on their mobile Phone. This is challenging as it means that you are not only competing for Challenges faced by women in advertising industry NONTOBEKO attending Loeries Awards Gender roles ,and enviroment issues. You might say this dialogue has been held before through art, but what made this different, was the voice of the narrative. The creation made by these young people, spoke in a voice of empathy and self evaluation. It also provided solutions for the country to move forward with that spoke of embracing various cultures and the need for inclusion. The Loeries’ winners seemed to be lacking in equal customers loyalty within your own industry but across the spectrum as consumer expectations change so must entrepreneurs services,like liquid must flow with it. There will be a wave of services that change with our everyday lives and take into consideration things that we really care about more than just getting something deliverd fast at the cheapest rate.”This digitization will affect our education, our lives, our families, our health,the way in which we work, and the way our government interracts with us, all this will be happening within the next Five years” Curtis Have a look at this video that paints a clearer picture of what living services will become in a practical sense. https://youtu.be/gNwyX4TnBjw representation and was dominated by white males’. The glitz and glamour of the event seems to be a turn in the tide in what is expected of brand makers in aspects of asethetic and representation, with comsumers being more aware of what they consume. The power of marketing can never be underestimated and businesses will do well to pay close attention to the new brand communication trends. Women In Business. 15th September Ladies, have you ever experienced the power of a networking morning? Get you and your business on the map by attending our Women In Business Networking morning on the 15th September. Take advantage of the opportunity to network in new circles and learn key business insights from inspiring business women in our District. ( attached flyer for more event details) Cost: R120 non-members | members FREE. Business Club- (16 September) What is a trademark and how it works. What is a lifespan of a trademark and how intellectual property protects your brand. Cost: R120 non-members | members FREE. Leadership Skills for New Managers (September 21- 2016) LEADERSHIP SKILLS FOR NEW MANAGERS WORKSHOP that will be held on the 21September 2016 at the chamber offices. The aim of the workshop is to develop leadership skills for managers and future leaders in the talent pipeline. Who should attend: Front line managers & supervisors or future leaders in the talent pipeline Workshop outline & Objectives: •Assessing the characteristics of successful leaders •Understanding the relationship between emotional intelligence and self-leadership •Identifying and understanding your locus of control •Applying the concept of the selfthought motivational cycle to our understanding of self and the motivation of others •Determining exactly what motivates you in your work environment •Understanding the importance a course of action and goal setting •Developing the necessary resources in order to effectively accomplish tasks in the workplace Cost: R800 non-members | members R500 Successful selling & Negotiation Skills (September 28-2016) The aim of the workshop is to identify key issues and customer needs that will help in mastering the art of persuasion and how to sell on value. This workshop will take place at iSithebe Who should attend: Retail attendants and anyone who negotiates as part of their role, for example sales persons, including property, and government officials. Workshop Outline & Objectives • Understanding the importance of planning, research and customer profiling in sales • Establishing trust and rapport with a customer • Identifying key issues and customer needs • Importance of asking the right questions • Identifying common mistakes and statements in sales • Product features and benefits, art of persuasion and how to sell on value Cost: R800 non-members | members R500 Mpondo traditional dance group at Gledhow 1, September is a heritage month. If you decide to visit iLembe district, you may come across this Mpondo traditional dance known as Imfene. South Africa has a good HIV AIDS Treatment Programme SOUTH Africa is now regarded as a country with the largest treatment programme in the world, thanks to the dedicated minister of health Dr Aaron Motsoeledi, but despite this achievement, more still need to be done. THE progress made by South Africa in the battle against AIDS was noted during the 21st international Aids Conference which took place in Durban recently. Addressing this conference a famous South African born actress, Charlize Theron, who is an Aids Ambassador said, “It will take the next generation to end this epidemic. The solution is not just in our laboratories, it is in our schools”. She was one of over 700 speakers from all over the world who addressed that conference. This Benoni beauty is now based in Hollywood in the United States of America. She called for young people to get involved in a dialogue that finds solutions to the AIDS problem because people who are at highest risk for HIV are females aged between 14-25 years old. It resolved to address this by bringing together activists, AIDS researchers, scientists, government officials and community leaders to discuss solutions for achieving the goal of ending HIV by 2030, set from the first AIDS conference. The theme for the conference was “Access, Equity, Rights, Now”. Innovative ideas surrounded around funding HIV research programmes, new treatments and vaccines, how young people can help towards ending the epidemic. Access to treatments strategies were discussed and some things are set to change.
15 September 2016 Dr Tshitshi Mbatha in SAA New Board SMME NEWS 5 A young businessman on a rise MARVELLOUS ZONDI XOLANI NXUMALO The former Chief Executive Officer of Inkezo Land Reform, a company of the South African Sugar Industry, Dr Tshitshi Martha Mbatha, is a new board member of South African Airways (SAA). Dr Mbatha, who is also a Chairperson of Agribusiness Development Agency (ADA) of KwaZulu-Natal Province, is one of the eleven new non-executive SAA board members appointed recently. She is married to a well known author and former Director General of this province, Prof Otty Nxumalo. She is also serving in Ingonyama Trust Board. Dr Mbatha is holding a PHD in Social Welfare Policy, which she obtained from Brandeis University DR Tshitshi Martha Mbatha in USA. She is also a director of the Centre for Development Research and Facilitation. As mentioned above, she was a CEO of SASA’s Inkezo Land Reform Company which covers a wide range of issues, all of which attempt to improve the development, empowerment and growth of sugarcane growers. Included under the black grower development banner is a broad spectrum of interventions including: training, sustainable development initiatives, social facilitation, mentorship, and creation of broad based opportunities that provide empowerment yields for Black sugarcane growers. Dr Mbatha will serve in this board for a period of three years. The new board had just been approved and presented to the cabinet by Minister of Finance, Mr Pravin Gordhan. It falls under the chairpersonship of Dudu Myeni. SIPHAMANDLA Mkhwanazi (23), of Spha M Production, has been in business since 2010 while he was still at high school. This young businessman from Mandeni prides himself for being able to satisfy his customers which he said is his primary goal whenever agreeing to work on an event. “I try to never disappoint because people rely on me to capture their weddings, school photos, traditional events and so forth. Those are the things you can never do twice, that’s why I make sure I deliver quality”, said the passionate cameraman. Despite being only 23 years old, Mkhwanazi is among the polished cameramen within iLembe area and has already free-lanced for 1KznTV, covering Inkosi M Mkhwanazi’s wedding. He says,”One thing that people like about me is that I am able to bring screens to events making sure nobody misses a thing. Screens provide extra viewing if there are too many people at the event. My biggest highlight is working on events at Botanic Gardens, Westville Civil Centre and Empangeni. One good thing is that I cover the whole of KZN. I go wherever the client is and my prices are reasonable.” Although business is good for the former Mathubesizwe student, sometimes there are huddles that need to be overcome. “Sometimes clients pay on time, sometimes they take too long to pay which makes it hard for the business to prosper at a fast pace”. In conclusion, Mkhwanazi thanked Thabani Mkhwanazi and Moses Mendo as well as Vusi Dlamini who helped him get his business off the ground. SMME, what you should know Market research Introduction What is market research? Market research is a systematic, objective collection and analysis of data about your target market, competition, and/or environment with the goal being increased understanding. Through the market research process, you can take data – a variety of related or non-related facts – and create useful information to guide your business decisions. Market research is not an activity conducted only once; it is an ongoing study. Benefits of Market Research Information gained through marketing research isn’t just “nice to know.” It’s solid information that can guide your most important strategic business decisions. Market research is effective when the findings or conclusions you reach have a value that exceeds the cost of the research itself. For example, if you spend R1500 on market research activities that yield information leading to a revenue increase of R15 000, the research was well worth it! Suppose you spend R1500 on a customer survey that uncovers an unmet customer need. You’ll have the opportunity to offer a new product or service (or alter your existing product or service) to meet the need and gain new revenues. (1) Market research guides your communication with current and potential customers. Once you have good research, you should be able to formulate more affective and targeted marketing campaigns that speak directly to the people you’re trying to reach in a way that interests them. For example, some retail stores ask customers for their zip codes at the point of purchase. This information, which pinpoints where their customers live, will help the store’s managers plan suitable direct mail campaigns. (2) Market research helps you identify opportunities in the marketplace. For example, if you are planning to open a retail outlet in a particular geographic location and have discovered that no such retail outlet currently exists, you have identified an opportunity. The opportunity for success increases if the location is in a highly populated area with residents who match your target market characteristics. The same might be true of a service you plan to offer in a specific geographic area or even globally, via the internet. (3) Market research minimizes the risk of doing business. Instead of identifying opportunities, the results of some market research may indicate that you should not pursue a planned course of action. For example, marketing information may indicate that a marketplace is saturated with the type of service you plan to offer. This may cause you alter your product offering or choose another location. (4) Market research uncovers and identifies potential problems. Suppose your new retail outlet is thriving at its location on the main road through town. Through research you learn that in two years, the city is planning a by-pass, or alternate route, to ease traffic congestion through town. You’ve identified a potential problem! (5) Market research creates benchmarks and helps you track your progress. It’s important to know, for later comparisons, the position of your business at particular moments in time. Ongoing market research allows you to make comparisons against your benchmark measurements as well as chart your progress between research intervals (such as successive annual surveys). For example, you might establish a benchmark measurement of your target market demographics and learn that 65 percent of your customers are women between the ages of 35 and 50. One year later you gain survey your customers and learn that this age group now represents 75 percent of your customer base. You’re tracking a trend in your customer demographics. (6) Market research helps you evaluate your success. Information gathered through market research helps you to determine if you’re reaching your goals. In the above example, if your product’s target market is women between the ages 35 and 50, then you’re making progress towards your goal. (if not, this information can indicate a needed change in marketing strategy!) What Market Research Can Tell You Market segmentation Studies provide information about the characteristics shared by your customers. This data provides answers to questions such as: • Who are my customers? • What is the size of their population? • What percentage is female? • What are their ages, races, income and education levels? • What are their occupations, skills, interests and hobbies? • How many children do they have? • Do they have pets? • Where do they live and work? Purchasing power and buying habits information Uncovers the financial strength and economic attributes shared by your target market. Some questions to be answered include: • What is the average Rand amount spent on purchases or products or services similar to mine? • What are the financing needs of my target market? • What is their current usage of my services? • When do they purchase? • Where do they shop? • Why do they decide to buy? • How often do they buy? • How much do they buy at a time? • Do they own or rent their homes? • What types of cars do they drive? • How often do they eat out? • How do they typically spend their disposable income? • What method of payment do they use? • How strong is their credit? Psychological aspects of the market Scanned by CamScanner Is information regarding the perceived opinions and values held and shared by consumers in your market. Questions to be answered: • What is the reaction of the market to my programs or serviced? • How does the market compare my company to other businesses? • What qualities and characteristics do my customers deem important? • Who makes the decisions to buy in the family or company? • What are the deciding factors in making a purchase? • Do they only want the best for their family? • Are they looking for convenience and timesaving devices? • Are they concerned with how they’re perceived by others? • What are their unmet needs? • Do they demand intensive customer service? • Are they only concerned with the lowest price? • What media (magazines, radio, TV, newspapers, Internet providers, etc.) are they exposed to? • What confuses my customers and prospects? (To be continued).
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