Living by the Seafarer's Code

I got this by email sometimes back, and I thought its amazing. Therefore, I am copying here the entire article. I am very sure you are going to like it a lot.


"Living by the Seafarer's Code - Merchant sea traders have a simple code they live by: you shall assist a carrier in distress regardless of your personal affiliations. It applies to competitors and non-competitors alike - no matter if, at ordinary days, both of you vie to get more business than the other. This same code was applied even during the height of the Cold War between democratic and socialist countries - what they see is the need to help and not the flag which the boat is carrying. The code is simple: aid a fellow seafarer in need with the hope that you'll receive the same assistance if you're ever in the same situation too. You see, having engine problems or getting stranded in the middle of the sea is a whole different ballgame than when you have problems with your car. You can just pull your car over, call for a towing service and flag a taxi to get you to your destination. You can't do the same to a boat unfortunately, you can either wait for help to arrive or take out the oars and row to the nearest shore. The latter even depends on how big the boat is by the way. So do you see how important it is to get help out in the big blue?


This symbiotic relationship is not unique to seafarers; the same rule can be applied to everyday life and business too. Practicing this code in business and being a recipient of it should the need arise all depends on you. Here are some ways to make sure you won't be left floundering:


Network: Join organizations where you can learn or be involved in the business you're in. Knowing the people in your industry is a big plus. Not only because you'll know who your competitors are but also what's the latest news in the business. A personal relationship with them gives your group that certain honorable pledge where competition is in the work quality and not in any underhanded methods.

Extend help, as much as you can, to both regular and non-regular clients: Needless to say, you'll earn a good reputation with this attitude.

Extend help, as much as you can, even to your competitors: It could be as simple as referring a client to them when you\'re fully booked or lending them equipment for an urgent requirement they have. Like the seafarers, they will remember what you did and you can bank on their help should you be the one with problems."

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Have a Good Day,

Susmita

Is Branding relevant in a B2B scenario?

Let’s start with the Basics:

There are 5 key attributes in B2B Branding:

A. Intangible Attributes-
1. Trust
2. Relationship

B. Tangible Attributes
3. Price
4. Product
5. Logistics

Prices fluctuate, products rust and supply chains merge –
The only thing that keeps a Brand in the mind of the customer is the relationship that it enjoys with the Brand and whether it can trust it for using it in its most complex applications


B2B Brands:

In a B2B scenario, marketing strategies and the need to build a B2B brand cannot be achieved through advertisement. It depends on the price-sensitivity of primary and secondary customers:

¡ When both buy mainly on price factors, work on reducing their cost but not your price.
¡ when both buy mainly on non-price factors, competitive advantage depends on building relationships throughout the value chain, emphasizing service, product enhancements and the contributions of your processes and systems to customers' business success.
¡ When the primary buyer responds to value-added and other non-price appeals, but the secondary customer is a price buyer, your job is to provide the systems and product enhancements that help the primary customer cut its price to secondary customers.
¡ When the primary buyer is price-driven, but the secondary customer seeks value enhancements and other non-price reasons to buy, promote cost-justifiable product enhancements that improve the primary buyer's value-added appeal to the secondary buyer

Therefore, Creating Value for the customer is the Key to success



Creating Value

— Understand the value-chain and the effect of your product on the value-chain
— Create the next best alternative
— Make it important to all the stakeholders in the organization
— Innovate continuously
— Work with the customers to reduce their cost of manufacturing
— Be a solution provider and not just a product / service seller; work as a Consultant
— Upgrade your customer to the next technology by yourself
— Touch your customers’ emotion! – Be there whenever they need you!!!

Last but not the least

In a B2B market, the sales person is an extension of the Brand. So, take care of
i. Your looks
ii.Your clothing
iii. Your etiquette
iv. And most importantly, the customers’ cultural background

Therefore,

1. Empathize with the customers’ problem and be their ‘Good Friday’
2. And, remember the success of a B2B product is only achieved when not only the customer is successful – but, everyone down the value chain is successful.


Consider yourself successful when

1. The end-user demands your product to be part of the final product at her hand, e.g. Intel
2. Your Brand has become synonymous to the generic product category, e.g. Xerox

How Much Does a Brand Cost?

Finding the Right Branding Company



Companies that create branding and identity are often difficult to distinguish from graphic design firms, but how they go about creating your brand may be much different. There are several important steps to select the right company to help you to brand your new business. First, ask your contacts which companies they know that specialize in branding. Conduct Internet searches for "naming" and "corporate identity" and "branding." Think extensively about what types of names and logos appeal to you. Research the firms that created the brands that you most admire. Be aware of the firms' creative styles. Choose a company with a track record for unique and original names, not one that has a history of creating coined names. However, don’t go with a highly creative firm if your constituency is very conservative and traditional.


Contact a handful of companies and take note of how quickly they get back to you. Do they seem motivated or preoccupied? Is the person who returns your call a partner or a sales representative? Meet with a few different companies and trust the chemistry. If it's there you will know it; if it's not, keep looking. Make sure that the person with whom you initially meet - usually a partner or owner — will do, or at least direct, the work. That way they will be personally motivated to produce results for you.


Ask each company about its process. How forthcoming are they? Are the representatives willing to talk about their procedures and the steps that they all take to create your brand? Make sure you talk about money; they may ask you if you have a projected budget for this project. It's acceptable for them to ask, but it's also okay for you to hear first how much it will cost, without disclosing your budget. How quickly do they get back to you with a written proposal? If you agree on Tuesday to work with them and you haven’t heard from them by the end of the week, this might not be a good sign. Again, be smart and go with your instincts.



How Much Does a Brand Cost?


How much you can expect to pay for the creation of your brand is a Rs.25,60,000 question. The answer is that the fee doesn't have to be astronomical, but it can be depending on who you decide to do business with.


Creating a brand is often a classic case of getting what you pay for. Your cousin may create a name and commensurate logo (without applications like letterhead, signage and packaging) for Rs.22,500, or you can pay an international identity and branding company Rs.4000,000. In theory, that Rs.4000,000 should buy you higher quality images and plenty of targeted branding theory, but that isn’t always the case.


Our recommendation is that emerging companies look for an in-between solution. Look for a company that is experienced in branding small or start-up businesses, and that understands your timing and budget constraints. Reputable firms charge anywhere from Rs.10,00,000 to Rs. 50,00,000 for a name and logo. You should be thrilled with the product and get terrific results from a firm in this range.


Before choosing a branding, naming or identity company, scrutinize its portfolio to make sure their style matches your tastes. Also, don't hesitate to ask for references—they should be proud to provide them. Call a couple of the references and find out whether they liked working with the firm.


Finally, remember that branding is a serious, long-term investment. If you're going after or have received outside financing, it should be a line item in your budget. Building a brand is a core business activity, as important as leasing office space, recruiting the right people and developing your product or service.


source: allbusiness.com