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Creativity in Business

Creativity is important in building a successful business, whether offline or online. It is the new ideas that allow you to create products and services that are different from your competitors.

What do you mean by creativity? It means creating something completely new, or making connections where none existed before.For example, Steve Jobs and Steve Woznak invented Apple computer in 1976, also the first PC. And they went on to build a multi-billion dollars business. Apple computer is still one of the leaders in laptops and PCs. There are countless other examples. One of the great stories is about Clarence B. Darrow, who made a connection between poor people ad people who could imagine that they are rich to invent the Monopoly game.

In the Internet world, many people have created successful online businesses using their creativity. Google, Facebook, Twitter, Amazon.com, Yahoo! are some of the leaders. If you want to make money in the online world, you have to think of new ideas and create something based on these ideas, and market them to the online world. Because of the global nature of the online wold, even a niche market is immensely huge, it is big enough for everyone to make a good living out of it, if only you know how to do it.

e-Market Segmentation

Market segmentation is an important process in conventional marketing. Marketing is an important step in ensuring successful implementation of marketing strategies.

Market segmentation means dividing a market into different groups or categories according to certain criteria such as household income, level of income, level of education, age, gender, hobbies and more. Such data can be collected through questionnaire survey or from statistical department.

Once we have those groups ready, we can then use differentiated marketing strategies to target those groups based on their needs and wants. For example, ask your self what you can sell to the senior people? Your answers could be nutritional products, tour packages, medicines, indoor exercising machines and more.

So much about the concept of segmentation. Now, how do we do market segmentation in the Internet marketplace, or rather marketspace? The concept is basically the same, the only difference is you have a much larger marketplace, and the main concern is language and cultural differences. For example, if you wish to promote inbound tour packages, you can target adult travelers from different countries, using website that offers different major languages in the world, such as English, French, Spanish, German, Chinese and Japanese. If you cannot do it yourself, you can always outsource to companies that provide translation services. Besides, you might want to customize your website according to different cultures, particularly those relating to food and things they like to see.

One of the most popular Internet outsourcing companies is Odesk.com. In this website, you can outsource your jobs to suitable contractors who are mostly individual freelancers. You can bargain with them the price as well as other terms and conditions for handling your jobs. Jobs that can be outsource are webpage design, contents writing and editing, graphic design, translation, copywriting, customer support and more.
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Okay, hope that you have learned what is market segmentation and its application in the Internet marketplace. Hopefully you can make use of this technique to improve your profitability.

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Welcome to our Online Business Guide!

This is the ONE- STOP CENTER to guide you along in your online business venture.

Whether you are about to begin your online business venture or you have been in it for sometime now, you are welcome to use our guide to get a head-start in your business or to propel your online business to a greater height.

The main objective of our  online business guide is to provide necessary knowledge, skills as well as resources to help you achieve success in your online business venture.

This is also a place for you to network with other netrepreneurs so that you can gain more ideas as well as opportunities that can assist you in expanding  your online business.