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Gold, Oil, and Forex

Gold, Oil and the foreign exchange are three different markets that are intertwined. If you are into Forex trading, knowing what one does relative to another may give you an insight where the other markets may be going. It would be greatly advantageous to become familiar with those different markets as a trader and get some Forex education.

Let’s have a look at those markets and how they are all connected.

GOLD
There is an inverse correlation for markets such as gold or oil that are priced in U.S. dollars in the commodities markets. When the U.S. dollar drops, not only do foreign currencies increase in value, but gold prices also rise. Studies have shown a negative correlation between gold and the dollar that is, they almost never move in together, but almost always move in reverse directions.

The value of EUR/USD versus gold, on the other hand, shows a very high positive correlation, this means that the value of the euro and gold prices often go hand-in-hand, suggesting these markets are both better off when funds are flowing away from the U.S. dollar.

Gold prices may be considered as an important component in looking at the forex market. A trend change in gold price may give a good clue to where the US dollar may be heading in the foreign exchange market.

OIL
A rise in oil prices directly relates to a weakness in the USD. Foreign oil producers view the increase in oil prices as a way to maintain their purchasing power in U.S. dollar terms. Forex brokers will tell you to counter the impact of higher oil prices a weaker dollar could ultimately give rise to inflation.

Oil is a key commodity driving global economic growth, and oil prices and the foreign exchange have a key relationship in the global market.

Now lets have a look at the impact an increase in the oil price may have on the different major currencies around the world.

Japan: Economy suffers as it relies on imports for most of its energy needs, therefore the Yen weakens.

UK: Benefit the economy as UK produces oil. British pound strengthens.

Oil in world business has a heavy impact on the Forex market. Thus any disturbance in supply is likely to affect the foreign exchange market.

Some of these factors may be terrorist attacks, natural disasters and wars. In such circumstances a shift from the dollar to the euro as the designated currency in crude oil could occur thus causing an immediate decline in the value of the U.S. dollar.

Gold and oil are not the only commodities affected by changes in forex values. Exports of agricultural produce account for a large share of U.S. farm income.

When the value of the dollar rises, it tends to limit buying interest from an importing nation as the commodity becomes too expensive in terms of that nation’s domestic currency.

When the value of the dollar declines, it reduces the price to an importing nation in terms of its currency and encourages it to buy more U.S. agricultural products. The influence that one market has on another market naturally shifts over time so these relationships are not static but should be the subject of ongoing study.

You as a Forex trader should be aware of the impact that those different markets have on the Forex. Though the changes may not be instantaneous, it may however tip you off on any possible trend changes in the near future. Happy trading. BSFT220409

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April 21st, 2009MarketingRead More >No Comments


Looking for a business for sale ?

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This web site is for buyers, sellers and business brokers. Categories include food, retail, automotive, transport and every other imaginable category. There’s businesses for sale there at all levels of investment.

With the uncertain economic climate it make sense to investigate owning your own business.

Although running your own business can be very hard work, your future is very much in your hands. With the risks involved often go the rewards.

According to the ABS, in 2006 there were over 1.12 million small business in Australia employing a total of over 2.5 million people.

Small business is an attractive option for those who want to leave the corporate grind and build an asset that they can pass on to generations.

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February 7th, 2009MarketingRead More >No Comments


Establishing a Unique Selling Proposition

Your brand image is primarily an emotional construct. Emotion is probably always more powerful in swaying people than reason, but people like to be able to rationalise their choices. This is where awareness of another advertising theory - the USP - can be helpful to you.

The USP, or unique selling proposition, formula was developed by Rosser Reeves, an ex-copywriter who became head of the Ted Bates agency in New York. He wrote an excellent book, largely dealing with this theory but also covering other aspects of advertising, called Reality in Advertising.

To establish your USP, you compare your product or service with your competitors. Then you determine one feature you have which no one else can offer. This is your unique selling proposition. It is this which you must promote single mindedly.

A 1987 issue of Marketing Week, the British trade paper, gave a wonderful example of how little the average marketing executive understands the phrases he deploys with such gay inconsequence. The subject was ‘Store credit cards’. A bank executive said: The whole point of a Marks & Spencer, Boots, Dixons or even Fortnum & Mason card is to bring people into the store - and to provide a bit of a LISP’ (my italics).

How a credit card can be a unique selling proposition when the same facility is offered by any number of retailers is difficult to comprehend. It reminds one of people who refer to things as being ‘rather’ unique, or ‘fairly’ unique. Here are some typical USPs:

‘Cleans your breath while it cleans your teeth.’

Colgate toothpaste. ‘The too good to hurry mint.’ Murraymints. ‘There’s more for your life at Sears.’ Sears Roebuck. ‘It ain’t fancy but it’s good.’ Horn & Hardarts. ‘The mint with the hole.’ Polo Mints. ‘It takes a tough man to make a tender chicken.’ Perdue Chicken

And, finally, another gentleman in the chicken business: ‘It’s finger lickin’ good.’ Colonel Sanders

One of the problems with the USP is that you sometimes have to rely upon some pretty trivial points of difference to arrive at your proposition - as you can see from the list above. And although, for simple products a good USP may often supply a successful selling idea, I think it is difficult to arrive at one for complex services such as American Express or The Consumers Association.

However, comparing yourself against your competition to discover what USP may exist is a great aid to clear thinking. For example, I was able to improve results for Odhams’ Kathie Webber Cookery Club by writing a headline which was simply a personal way of expressing a USP: `My cookery cards mean you control your weight without giving up luscious food you love to eat.’ This did well in the UK, and even in France, home of gastronomy. Moreover, subsequent approaches to selling this product revolved around this original thought. ====

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February 2nd, 2009MarketingRead More >No Comments


Researching Your Company’s Service Positioning

Once you have decided on possible positionings for your product or service, it’s wise to research them and see which of them your target market finds credible and appealing.

For instance, one of our clients sells a wide range of windows and home hardware to the public through shops. We wanted to find out what the right positioning for them could be - and then reflect it in their advertising.

Accordingly, a number of lines were written, each reflecting a different position. I am going to give you these lines with a brief indication as to how customers reacted to them. This should prove salutary if you ever feel tempted to boast or misrepresent what you offer.

Moreover, the line was seen as patriotic, because it clearly meant these were British goods. It also conveyed craftsmanship, durability and the good value you get by buying direct. Readers also appreciated that the line was to the point, not gimmicky. This line came out on top.

Successful companies tend to have a clear positioning from which they rarely if ever deviate - and then only with great care. I make no apology for reintroducing American Express. It was positioned single-mindedly for many years as ‘the world’s most prestigious financial instrument for business travel or entertainment’. This positioning came out in everything American Express did. For instance, the letter sent out to solicit new members which began: ‘Quite frankly the American Express card is not for everyone …’. This reflected the positioning so well that for many years in most countries of the world it was the most cost-effective direct mail used.
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January 3rd, 2009MarketingRead More >No Comments


Marketing Segmentation and the Rise of Database Marketing

market-segmentationMarketing academics have noted increasing media fragmentation. In recent years, the role of advertising and promotion in the overall marketing process has changed considerably. The audiences that marketers seek, along with the media and methods for reaching them, have become increasingly fragmented. Advertising and promotional tactics have become more regionalized and targeted to specific market segments.

The extraordinary expansion of media options to reach niche markets has been fully documented. Along with the growth of products and services and the segmentation of types of consumers has come an extraordinary proliferation of media. There are new kinds of media, new developments in the traditional media, and new uses for media. Increasingly, the new media are tools for targeting rather than for saturating the mass market.

Information and the role of the marketing database In the information age marketers are not only focusing on analysis, but also understand the value of information collection.

In the past, direct marketing has been distinguishable from other marketing disciplines because of its emphasis on initiating a direct relationship between a buyer and a supplier, a relationship that until recently centered primarily on the exchange of goods and services. However, in today’s market, exchanging information is becoming almost as important as exchanging goods and services. With rising costs, crowded supermarket shelves, and over stuffed mailboxes, smart marketers are not just efficiently consummating a sale, they are also providing a chance for customers to communicate with them.

Of all these changes surely the most revolutionary is the ability to store in the computer information about your prime prospects and customers and, in effect, create a database that becomes your private market. As the cost of accumulating and accessing the data drops, the ability to talk directly to your prospects and customers — and to build one-to-one relationships with them — will continue to grow.

The new marketing landscape The effects on consumers of overwhelming change and the acceleration of change in our time have been brilliantly documented by Hugh Mackay in Reinventing Australia: So apparent is our national malaise that it has become fashionable to talk about the Age of Anxiety.

For people given to applying labels to decades, the 1980s was popularly described as “The Anxious Eighties” and there is no doubt that the decade lived up to the promise of that rather anxious label. Australia has not been alone in all this. All around the Western world, social commentators have been impressed by the rising level of angst over the past 20 years. The mind and mood of consumers in the 2000s provide interesting challenges.

The growing number of market segments and the simultaneous increase in available products have made marketing much harder. Manufacturers are in a quandary about what to produce; retail merchandise buyers are overwhelmed by the task of product selection; and advertisers feel swamped trying to convey appropriate messages to so many market segments about so many products …companies are grappling with the fact that mass advertising campaigns have become less and less useful in reaching diverse groups of consumers.

Marketers must now fight to establish the relevance of their products in an extremely noisy marketplace. The marketing future will undoubtedly look different in another respect as well: customer information technologies will change the relative roles of retailers, manufacturers, and media companies.

Retailers have a natural advantage because they can directly measure customer response and get first option at the broadest range of information. Indeed, point-of-sale scanning systems have already played a significant role in shifting power from manufacturers to retailers.

Most important, the balance of power between large and small companies will change. As customer information technology becomes more prevalent, only those companies that can invest the resources and show technological leadership will succeed.

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December 7th, 2008MarketingRead More >No Comments


The Fascinating History of Grape Wine

It is said that an attempted suicide by a woman thousands of years ago gave birth to wine. This article looks at the fascinating history of wine.

While the origin of wine is still unknown to the world, ancient Persian fable credits a woman as the discoverer of wine. According to the fable, the woman lost to the King and wished to end her life by eating spoiled table grapes stored in a jar. The suicide attempt did not go as she planned; instead she got intoxicated and eventually passed out. When she woke up, she felt as if all her troubles had vanished and this event encouraged her to continue taking the spoiled grapes. So going by this pleasant story, one can say that wine is not an invention of man but was rather found by luck.

The history of wine is as old as the civilization, the agriculture and the man himself. Archeologists suggest that wine was discovered accidentally during 6000 and 5000 BC. in the Fertile Crescent area, a region in between the Nile and the Persian Gulf. Archeological evidence has uncovered the earliest European wine production from crushed grapevines in Macedonia 6500 years ago.

From the time of discovery of wine to this present date, wine has played a very crucial role in many rituals and customs of the society. . In the ancient Egyptian period, wine became an integral part of ceremonial life, mainly funerary ceremonies. Only the wealthiest Egyptians like the Pharaohs were able to enjoy wine. Wine was also common in ancient Greece and Rome and in many other Western European countries.

The Egyptian Era

Though scientists have identified a wine jar from Hajji Firuz Tepe in the Northern Zagros Mountains of Iran, the widespread knowledge of wine cultivation is believed to have come from ancient Egypt. The wine- making process was represented on tomb walls dating back to 2600 BC. Maria Rosa, a master in Egyptology says that wine in ancient Egypt was of great importance and only the upper class people and kings had access to wine. Rosa further points out that the ancient Egyptians labeled the wine jars with product, year, source and the vine grower’s name, but there is no mention about the color of the wines. A recent discovery has shown that the wines in ancient Egypt were predominantly red.

The Greeks

Arrival of wine making process in ancient Greece is not well documented; many believe that wine- making tradition was introduced to Crete by the Phoenician traders. Strong evidences of wine production have also been collected from Minoan Mycenaean cultures.

Wine was a very important trading article in Greece commerce. The Greeks were able to set up their colonies throughout the Mediterranean and this in turn eased the export of Greek wines in the region. The Greeks learned how to prevent wines from spoilage by adding different herbs and spices. Wine in ancient Greece was stirred in a bowl before drinking.

Apart from trading, the Greeks used wine in the field of medical sciences. One of the well known medicine practitioner, Hippocrates, also known as the “Father of Medicine” studied wine extensively for its use in medical sciences, specially to cure fever, convalescence and as an antiseptic. It must be mentioned here that the Greeks were equally aware about the negative health effects produced by drinking wine.

The Roman Empire

The Romans developed the viticulture (cultivation and study of grape growing) and oenology (the science of wine and winemaking). In the Roman Empire, wine formed a vital part of their daily meals as water could not always be trusted to be safe and healthy. During this period, wine- making technology became more established with a significant impact on the Roman business. The Romans developed barrels to store and ship wine, while bottles were used for the first time in the history of the wine world. The Romans are also known to have dissolved pearls in wine for their better health.

With the expansion of Roman Empire, wine production expanded to all of its provinces. During the Dark Ages when Roman Empire fell and when Europe passed through social and political turmoil, wine production was kept alive by the efforts of monasteries. Churches are known to have developed some of the finest vineyards in Europe.

Wine in Ancient China

Although wine was not much of a favorite of the ancient Chinese people, its production and consumption was popular in three different periods, mainly the Han Dynasty, Tang Dynasty and the Yuan Dynasty. In ancient China rice wine was not as much popular as the grape wine.

Wine in the Middle Ages and Modern Life

Wine became popular in the Middle Ages, it was considered as a social drink for all occasions. In the northern regions of the Europe where no grapes were grown, beer and ale were predominant and in the Eastern part Vodka was the preferred drink.

America, Chile, Argentine, South Africa, Australia and New Zealand that produce wide varieties of wines are considered as the New World Wine Producers. The products of these countries were not well known to the wine lovers until late in the 20th Century.

The industrial revolution in the 20th century has provided wine manufacturers with new technology and innovation that has made production much more efficient. Considerable R&D advances in viticulture and oenology have helped the present day manufacturers to produce more varieties of wines of much superior quality.

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November 17th, 2008MarketingRead More >No Comments


Copy then Artwork

A good marketing advertisement pays attention to both content and layout. But always, always, always, compose the copy first. The design must reemphasize the strongest points in the copy, and never be created independently of it.

Otherwise, your stuff might look great but have too little substance, or have a visual message that conflicts with the copy, or force your most important points into some hard-to-read corner.

Copywriters often have a sense of good design, and prepare a rough layout for the graphic artist to work from (or, if the design is simple, actually create both elements together). But trying to fit text to suit illustration and design is a definite mistake.

The only exception is in a very small piece. In some instances, like a business card with a strong graphic, you may have a very clear idea of the look before you write the words. If the whole idea is to dominate the page with a graphic, such as your company logo, and fit in contact information around it, obviously the words come second place.

But always ask yourself if this card is doing the strongest selling job it can. Maybe you need a sales sentence and should shrink the logo down a bit unless your product, too, is graphically oriented. Make sure the graphic is appropriate to your message and if it is not, throw out the concept.

Effective Copywriting and Wonderful copywriting:

1. Catches the reader’s attention with something relevant;
2. Addresses the reader’s fears, anxieties, or aspirations;
3. Stresses benefits to the user, not the features that lead to those benefits;
4. Offers to solve the reader’s problem, in the most specific terms possible;
5. Gives the reader with a chance to acquire something of clear value, but only for a limited time;
6. Pulls the reader toward an immediate next step;
7. Shows the consequences of a failure to act;
8. Backs up claims with comparisons to the competition;
9. Includes solid, substantial proof of your claim by someone else (a customer, an expert); and
10. This should be obvious, make sure you provide the necessary order form, address, telephone number and e-mail to allow the reader to take action.

You may not get all ten in every marketing document, but aim to include as many as you can. These group together into several bunches.

Writing promotional material is both a science and an art. Doing your own press release or flier copy is pretty straightforward. But if you’re going to spend a lot of money doing a brochure or newsletter, make sure the copy is worth the investment.

Certainly you can try to do your own, following the principles outlined above. But before you print the final, try out the advertisement on people who will give you accurate and detailed feedback. Writers who sell are writers who revise, so be prepared to do several drafts. Then leave it for a few days and come back to it with a fresh mind.

Or call in outside help. Either outline the project to a writer and wait for a draft, or write the first draft yourself and then let an editor put the magic in it. Whether you or the outside consultant prepare the first draft, expect to play with it. Make sure each section uses strong sales language. Examine the different sections together, to see if they fit well and are in the right order.

Where do you find writers and editors? Get recommendations from other business owners whose marketing materials you respect. Look in the Yellow Pages under Editorial Services, Marketing Consultants, Public Relations, or Publicity. Or, of course, have a look on web sites like elance.com or getacoder.com

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November 5th, 2008MarketingRead More >No Comments


Online Copywriting Tips - Words as Weapons

While visual design is crucial online, so too is the copy. It should not be neglected in favour of fancy slow-loading graphics.

Similarly, despite all your best efforts to optimise your site or search engine marketing strategies, if you don’t get the copy right you could see plenty of traffic but very low conversion rates. Rather than simply replicating your offline marketing collateral, copywriting in the online space needs careful attention if it is to address the different needs of your online customers.

While some of the same principles as print apply online, the interactive nature of online means the need to write with your online user’s behaviour in mind is paramount.

Headings
Arguably the most important aspect of online copywriting content, headings must be kept simple, relevant and grab attention. Think strong and engaging and make full use of your keywords in headings, particularly on the homepage.

Engage emotion
The most effective sites clearly identify the value proposition from the home or landing page. Write with your visitor’s expectations in mind — why are they online, why are they visiting your site, what do they really want?

The content on your homepage needs to resonate with your reader so they carry on to complete the desired action. A principle that applies both off and online is that if your copy emotionally engages the reader it transforms a passive reader into a proactive buyer.

Customer centric
Online users tend to be in information-hungry mode. They want to know what you can do for them, not all about your company, so tell them clearly what’s in it for them. Be generous with your information and highlight the fact that you have free content, top tips, a latest news section to build traffic to your site.

Most people go online to find information and research purchases, so if your information is free, useful and accessible it will help you to establish credibility which will do wonders for your brand and build repeat visits. By giving you will get back.

Benefits
Use the online space to communicate the direct benefits of your products’ features, don’t just describe the features, but build on how these will add value to them and their lives.

Answer these questions for your target market by always asking:

what’s in it for them?,
is it better value than our competitors product(s)?
is it more reliable?
will it make our customers lives easier?
how will it improve their lives?

You can go into a lot more detail online so don’t miss the opportunity to do so.

Keep it brief
However, while the online environment allows you to provide more information it also means seriously low levels of patience, so make sure you get to the point before your visitor clicks out of your site altogether. Use short blocks of text, plenty of headings, short sentences and clear link text that makes sense.

Use your copy to coax visitors along the site process and in action until the point of conversion or until they complete he desired action. Clearly articulate how easy it is to respond by communicating how simple it is to pay online, how quick delivery time is and highlight online cost savings.

Know your target market and who you want to attract. Make sure your copy style and tone connects with your readership if you’re an upmarket luxury travel agent, for example, you need the copy to reflect the lifestyle of your target market. Be relevant otherwise people won’t stick around for long.

Remember Keywords
Think carefully about your keywords, ie those that you optimise to drive traffic to your site. While popular keywords are likely to be used by many online players, if you pay careful thought and attention to keywords you can select niche ones that will see targeted traffic arrive at your site keywords need to be deftly woven into your copy, sp ~` as well as writing with the reader in mind you should always write with search engines in mind.

Consistency is key
Make sure the style of your copy is consistent, that it flows across the pages, talks directly to the user and is grammatically correct. Building and maintaining your customer’s trust online is intrinsic to effective online copywriting and it stands to reason that sloppily written and badly punctuated copy is not going to build much faith in your company or products. Checks f and double-check your website’s copy to ensure there are no embarrassing typos or lazy writing.

Build Trust
Consumer cynicism is at an all time high in the online environment - make sure you engender trust in your products via your copy or you could see sceptical consumer leave your web site swiftly.

Since anyone can establish a web site it’s important that you build trust online so that customers are happy buying or sharing data with you rather than deciding a big-brand competitor is a safer bet.

Once you have established trust they will buy from you and copy is crucial for reassuring online users. Make it clear that customers have a money-back guarantee, state upfront that postage and packaging is extra, and never forget to point them to an offline, bricks and mortar customer contact point.

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October 29th, 2008MarketingRead More >No Comments