Epa is participating in ISIF inventions fair Istanbul
Within the 21st century, invention has a whole new meaning. It may be a process or product created by a large team to make huge leap in technology; or could be an addition or improvement to the existing technology/product which will create ease of life, bring solution to various problem or struggles.
An invention is usually defined as a unique device, product or process. The invention process is a process within an engineering and product development process and it is considered as an improvement upon a device/machine or product or a new process for creating an object or a result.
Currently, various government bodies, Ngo s or institutes support inventions, new ideas or set up exhibitions or contests and encourage participation.
Some of the major invention fairs can be specified as: Euroinvent European Fair of Creativity and Innovation Romania, INST Exhibition of inventions and technology exchange fair Taipei, Inventika Fair of Inventions Romania, Infoinvent International exhibition of inventions, new technologies products Moldova along with Genial Inventions Exhibition in and iENA International trade fair for inventions Germany, Inova Innovations fair in Croatia and ISIF’17 International Invention fair.
2nd Istanbul International Invention Fair – ISIF’17 will be held on 02-04 March 2017 in Istanbul, by the Honorary Patronage of Republic of Turkey Ministry of Science, Industry and Technology, under the patronage of International Federation of Inventors’ Association (IFIA), hosted by Turkish Patent and Trademark Office (TPE), organised by Anatolia Inventions and Inventors Association and supported by World Intellectual Property Organization (WIPO) and ISIF’17 Inventions fair – Istanbul.
The target group of ISIF’17 Inventions fair – Istanbul contains International and national individual inventors, centers, manufacturers and commercial companies, entrepreneurs, researchers, patent offices, private or state-sponsored research institutes, technology development zones, technology transfer offices, universities as well as institutions and organizations related to angel investors, capital groups, innovation promoters, relevant government agencies and non-governmental organizations.
EPA team will be a proud participant of the fair, promoting the “E price analysis” product along with other products.
We hope to see you in Istanbul 2-4 march 2017.
Price analysis is the solution for competition !
Prices shouldn’t be used as the main tool in maintaining competitiveness. It is unwise to adjust them as a reaction to the changes in the market. Quality alone is no longer enough as a selling point. Even if you add excellent customer service to it, customers won’t hesitate in going to another supplier if they offer better prices.
That’s why pricing analysis software will be a great option, especially for high volume inventory and sales. It is very important to know how to adjust your prices. You need to know the right time and levels for your adjustments.
The following are the major ways through which pricing analysis software is changing retail business.
Analysis and Adjustments
You need to know how your competitors are pricing their products to set competitive prices. Without pricing analysis software, doing price research would mean going from one site to another to view prices and collecting manually. This is a tedious process. It is labor intensive, time consuming and expensive.
Price analysis software can provide the needed guidance in setting the right pricing based on rules the retailer set up, such as upper and lower limits and even profit margins in some cases. The goal is to keep prices competitive. Once you have all the price details you need, it shouldn’t be difficult deciding on prices that allow you to be competitive while ensuring profitability.
Price adjustments are not only about price reductions. Price increases can also be implemented for certain items that may have been priced way lower than the usual prices. They should be implemented in ways that make them less noticeable. But price reductions should be implemented to create the best impact on customer attention. Remember how easy it is to find price information online. Also, your competitors are also tracking your price adjustments so they can make adjustments to make their prices look better. A couple of years ago, it has already become a practice for online retailers to change prices almost hourly. There are reasons for this and these reasons are bound by the idea of timing. Unlike in the case of bulk purchases timing significantly matters in retail price adjustments. This is because retail buyers generally don’t negotiate prices. The assumption is that what they see on the tags are what they get.
Providing Useful Data for Price Optimization
The prices set by your competitor provides the advantage of being able to play the price war game. As long as you don’t sacrifice profitability, you can try to match what your competitors are offering.
In some cases, the prices offered by competitors can help you decide to look for new suppliers for the products you are retailing. If some retailers are able to offer significantly lower prices, you might want to investigate where they are getting their products. They might be sourcing their items from a supplier that can offer really low prices. And you might want to find that supplier or explore the possibility of a better one.
Using a pricing analysis software greatly enhances retail pricing strategies. The actual price details compiled by the software serve as the basis in adopting strategies, discount, psychological and prestige pricing.
Finally, there’s no doubt that price adjustment software is indeed helpful in making the right pricing decisions. You just have to make sure that the software you are using is reliable. Try to check the company data online, the owners , staff and even check in Linked in such as EPA, e price analysis to see their trustworthiness. A price monitoring may be the best retailers need for an ever-growing and evolving online and offline retail world.
Sales people and their qualities. Are they a talent?
We are in an industry where we rely on sales people and their qualities. In USA , nearly 12.3% of all the jobs in the U.S. are full time sales positions. Over one trillion usd is spent annually on sales forces. 18,682 sales posts were advertised on Adzuna* last month in UK. Sales is the 10th most sought after job in Britain. An exclusive study reveals, the salesperson in a B2B environment, is the most important factor influencing prospect decisions. This happens to be the case on both sides of the ocean.
20% of the sales force delivers 80% of the revenue in many companies. This means hiring talented sales people is basically a random event.
If you happen to have one, top sales producers outperform average producers; by 2:1, and low producers by 10:1.
Caliper Corp** reports that 55% of the people making their living in sales should be doing something else. A UK based report states that, 60 per cent of UK sales people not happy in their jobs.
Qualities of a sales person:
Sales is a talent-based profession and the sales training will improve the performance of an individual on average by 20%.
By replacing your bottom 20% of salespeople with only average performers, you would improve sales productivity by nearly 20%.
Over 50% of sales managers are too busy to train and develop their sales teams. Right decisions in recruiting and creating real sales talents bring amazing outcomes.
We should also check the qualities of a good sales person. The best sales professionals do not focus purely on making a sale. They try to build long-term relationships. They not only know their own product inside out, they also know everything about their competitors.
* “Adzuna” is a search engine for job ads that lists every job, everywhere.
** Caliper Corporation is the Leading Provider of the Hiring Assessments for Professional Placement, Talent Management, and Leadership Development
The Christmas sales in United States, Canada and UK
Christmas is a selling season for retailers in many nations around the world. Sales increase dramatically as people purchase decorations, gifts and supplies to celebrate.
United States:
In the U.S., the “Christmas shopping season” starts as early as October. Statistics show that a quarter of all personal spending takes place during the Christmas/holiday season. Figures from the “U.S. Census Bureau” show that department store sales nationwide rose 54 percent. The Christmas spending was increased more in other sectors. There was a buying surge of 100 percent in bookstores and 170 percent in jewelry stores. Same year employment in American retail stores went up from 1.6 million to 1.8 million in the two months prior to Christmas. Industries depend on Christmas include such as Christmas cards, of which 1.9 billion are sent in the United States each year. And live Christmas Trees, of which 20.8 million were cut in the U.S. in 2012.
Canada:
However, Canadians usually begin advertising campaigns after Halloween (October 31), and speed up the marketing after Remembrance Day on November 11. Stores would be open Christmas and New Year day until 7 or 8 pm. Boxing day is observed annually on December 26 in Canada, the U.K. and Commonwealth countries around the world. In the UK, Canada, Australia, and New Zealand, Boxing Day is primarily known as a shopping holiday, much like Black Friday (the day after Thanksgiving) in the United States. Boxing Day sales are very common in Canada. It is a time when shops hold sales often with dramatic price reductions. For many retailers, Boxing Day has become the day of the year with the greatest revenue.
UK and Commonwealth:
In the UK in 2009 it was estimated that up to 12 million shoppers appeared at the sales. The Christmas shopping season starts around the middle of November, around the time when street Christmas lights are turned on, In the UK and Ireland. In 2010, up to £7 billion spent online at Christmas, approximately a quarter of total retail festive sales.
For most of the Western countries, Christmas Day is the least active day of the year for business and commerce. Almost all retail, commercial and institutional businesses are closed, and almost all industries stop activity whether laws require such or not. In England and Wales, the Christmas Day “Trading Act 2004” prevents all large shops from selling on Christmas Day.
Also, film studios release many high-budget movies during the holiday season, including Christmas films, fantasy movies or with high production values to the hopes of getting Academy Awards.