Paycom Marketing Plan Free Essays

The Obama administration’s proposal for a Consumer Privacy Bill of Rights, which was released as part of its â€Å"Consumer Data Privacy in a Networked World: A Framework for Protecting Privacy and Promoting Innovation in the Global Digital Economy,† is intended to give users more control over how their personal information is used in commercial transactions (Klosek, 2012). This type of framework is geared toward technologies such as mobile apps. Mobile app technology is capable of cloning personal information from a mobile device such as ID numbers, email address, current location, texts messages, calendars and personal photos. We will write a custom essay sample on Paycom Marketing Plan or any similar topic only for you Order Now Companies such as Google, Yahoo, Microsoft, and AOL have agreed to not track consumer browser use. These companies have been critized in the past for not doing what is required to protect the privacy of its consumers. They have been tracking their information without any consent or providing information to the consumer regarding how the data will be used. Now with the CPBR, consumers will now have the right to control what information is used, how it will be used and monitor the accuracy of the data collected. In order to use the Consumer Privacy Bill of Rights for future litigation, seven general principles have been developed to use as a guide. â€Å"Individual Control: Consumers have a right to exercise control over what personal companies collect from them and how they use it (Kloesk, 2012). † Going forward, companies will have to present consent as well as choices to the consumer about the data that is being collected, whereas before, consumers have been unaware of what type of data was being collected and how it was being used. Transparency: Consumers have a right to easily understandable and accessible information about privacy and security practices (Klosek, 2012). † There are many privacy risks in regards to mobile devices. With the CPBR, consumers with be informed about the most recent and relevant information regarding what personal data can be used. Mobile apps are an example where this information can be critical. â€Å"Respect for Context: Consumers have a right to expect that companies will collect, use, and disclose personal data in ways that are consistent with the context in which consumers provide the data (Klosek, 2012). This generally translates into a deeper guide to increased disclosers to the consumer. In the case that information or data is collected from a consumer and used for anything else other than for the use of the company, the consumer will be notified before and given the opportunity for consent prior to the information being used. They will also be informed what the data will be used for in relation to what is being shared. â€Å"Security: Consumers have the right to secure and responsible handling of personal data (Klosek, 2012). In summary, any data collected will be encrypted and secured when being moved from the consumer’s device to the companies servers. â€Å"Access and Accuracy: Consumers have a right to access and correct personal data in usable formats, in a manner that is appropriate to the sensitivity of the data and the risk of adverse consequences to consumers if the data is inaccurate (Klosek, 2012). † This describes the consumer’s rights to ensure t hat the data being collected is accurate. If they information is incorrect, then they will have the right to correct anything in error. In order for the consumer to ensure accurate information, they will also be granted access to the data being collected. â€Å"Focused Collection: Consumers have a right to reasonable limits on the personal data that companies collect and retain (Klosek, 2012). † Companies cannot collect data from any devices, unless it is relevant to the need or purpose of the original use. Any information collected will be used for a specific goal that is to be accomplished relevant to the need for it to be collected. Accountability: Consumers have a right to have personal data handled by companies with appropriate measures in place to assure that adhere to the Consumer Privacy Bill of Rights (Klosek, 2012). † Data retained will be handled appropriately. This means that employees will be properly trained on how to ensure information collected is secure and relevant. These seven guidelines are intended to act as a plan to improve consumers’ privacy protections. In addition, it act s as a tool to ensure that information being used from the internet is used to promote economic growth. It will also allow consumers to have increased involvement of their personal information and â€Å"help businesses maintain consumer trust and grow in the rapidly changing digital environment† (Obama, 2012). In the past, the internet has not been secure enough to protect consumer’s personal information. With added protected, consumers can feel more confident to use the internet which will enhance the opportunities for job creation and business growth. The seven guidelines more specifically provide a foundation to protect consumers and grant a greater self-certainty for businesses. American Consumers can’t wait any longer for clear rules of the road that ensure their personal information is safe online† (President Obama, 2012). In order for a consumer to feel secure, they need to have confidence that their information being used is accurate and used for relevant purposes related to the companies purpose and mission. Daniel Weitzner, who is a former White Hou se deputy chief technology officer for internet policy, is now an advisor to the Coalition for Privacy and Free Trade. He states, â€Å"I believe really strongly that the privacy tends to make progress when there are broad coalitions† (Weitzner, 2013). The Coalition for Privacy and Free Trade welcomes companies that collect, use and transfer personal data (Liebelson, 2013). Prior to the CPBR, companies have been accused of using information for unjust purposes. Apple has been caught storing users’ address books. Google was found tracking the search engines on users’ iphones. Overall, online privacy has been an issue since the internet was created. With the CPBR, consumers can feel for confident in their internet use. Because of these alligations over internet companies, the Federal Trade Commision as prompted companies like Google, Yahoo, Microsoft, and AOL to commit to using the Do Not Track technology top prevent user browsing behavior from being tracked (Dharapak, 2012). Leadership is the key to being a successful manager. Peter Northouse (2001) defines leadership as a process whereby one individual influences a group of individuals to achieve a common goal. If you want to become an effective leader, a manager must guide employees in a positive manner in order to accomplish a goal as it relates to the company’s mission. There are two types of leaders. There is the transformation leader and the transactional leader and people may argue which leadership role is best for their company. As a manger myself, I believe that the transformational manager can better take the pulse of a group, understand its unspoken currents of thought and concerns, and communicate with people in terms they can understand and embrace. The transformational leadership approach can help managers become exceptional leaders. These types of leaders must develop a skill that will make individuals want improve, change, and be led. You not only have to know their wants, but you must also be able to identify their motives as well as needs. There are four factors to transformational leadership in which are known as the four I’s. The four I’s include: Idealized Influence describes managers who are role models that can be trusted, respected, and able to make good decisions for the organization. Inspirational Motivation is a way of motivating associates to commit to the vision of the organizations, while encouraging team spirit to reach goals that increase revenue and market growth for the organization. Intellectual Stimulation describes mangers who encourage innovations and creativity through challenging the normal beliefs or views of a group. These types of managers promote critical thinking and problem solving to make the organization better. Individual considerations describe a manager who can act as a coach and advisor. This helps not only the associates but the organization as a whole as well (Hall, Johnson, Wysocki, Kepner, 2012). The strengths involved with the transformational approach is that you can effectively influence employees on all levels and identify the needs an values of personal as well. However considering no individual is perfect, there are weaknesses identified by the approach. The weaknesses are that there are many components that seem too broad, treat leadership more as a personality trait than as a learned behavior, and have the potential for abusing power. Although, the strengths of the transformational leader empower individuals to do what is best for the organization. They also have strong role modeling skills that develop high values. In addition, they are active listeners that develop spirit and cooperation, create vision, and helps the organization by helping others put forth to the organization. Transactional leadership styles are more geared towards maintaining the normal flow of operations. They do what it takes to keep the lights on. They use discipline and incentives to motivate employees to perform. They tend to exchange rewards for high performance. A Transactional leader tends to not look ahead in strategically guiding an organization to a position of market leadership; instead, these managers are solely concerned with making sure everything flows smoothly today (Ingram, 2013). Transactional leaders can provide advantages in their abilities to address small operational details very quickly. They manage the things that build a strong reputation in the market. Transformational leaders shoot for ambitious goals while trying to achieve success through vision and team-building skills. Overall, different management styles are suited for different situations. One may needs to possess the skills of both leadership roles. Many times for minimum wage employees, the transactional approach would be more effective. Shift supervisors may also benefit from the transactional approach because they will need to pay attention to the small details. However, a COE with exempt employees will benefit more from a transformational leadership style. They need to have the ability to communicate, plan strategically, and pass missions down to implement details. Marketing Channels is similar to the ways that services and products are distributed. These concepts can be applied to channels in marketing and used as promotional channels. These channels include both direct and indirect marketing. Both of these concepts are extremely vital for various reasons, mainly because companies have to focus particularly on these. Direct marketing can allow a consumer to buy a product by communicating with several advertising media without having to meet in person with a salesman. This includes mail-order selling, direct mail sales, catalog sales, telemarketing, interactive media, and televised home shopping. Examples include distribution channels because they increase the convenience on a product or services to a customer. When customers have easy access, in most cases the demand of the product increases. It is because of distribution channels, that most retailers are wholesalers in the market. Marketing channels are also essential to the marketplace. These channels make the company aware of the needs and demands. Going back to direct and indirect marketing channels, they may sell to wholesalers, who in return, sell to retailers, or sell directly to retail stores. Companies can also use dependent or independent marketing channels. An example of an independent marketing channel would be a manufacturer’s representative. They usually sell the same or similar products to several different manufacturers. These people try to push better selling brands in retail stores, but they are not dependent on sales of the brands and can sell other brands because they are still profiting (Suttle, 2013). However, dependent channels such as small manufacturers rely on wholesalers to market their products to retailers. They also strongly rely on retailors to properly execute their promotions and sales. In the United states, channel members collectively earn margins that account for 30 to 50 percent of the ultimate selling price (Kotler, 2006). There is a very high cost involved with the marketing channel process. Most business are more likely to use several different channels, whether one would think of them as a channel or not. These include but are not limited to print advertising, email campaigns, pay-per-click marketing, direct mails, and banner ads. All of these are used to promote different products and services. The main concept to gather from a marketing channel is that it is a set of interdependent organizations involved in the process of making a product or service available for the use or consumptions by the consumer or business user. Marketing channel functions are performed by intermediaries. This includes a transitional function that is a result of buying, selling, and risk taking. Then there is the logistical function which involves assorting, storing, sorting, and transporting. Last, the facilitating function is incorporated by financing, grading, and marketing information and research. An industrial distributer in involved with a variety of marketing channel performances. These include selling, stocking, and delivering a full product assortment and financing. In smaller words, they act like wholesalers. When making the decision of what marketing channel to use, differential advantages can occur when a company retains a long-term advantage positions in the market that is relative to competitors. IT is important to choose the correct channel design because it directly influences all other marketing decisions and is also the key external resource for many manufacturers. When making these choices, one must ask three questions. 1. How close a relationship should be developed witht the channel members? In question 1, the factors to be considered include: distribution intensity, targeted markets, products, company policies, middlemen, environment, and behavioral dimensions. Who is doing the buying? Where, when and how end users but? 2. How should the marketing mix be used to enhance channel member cooperation? In questions 2, the company must have a firm grasp on the marketing mix. This include the product strategy such as quality branding, pricing strategy such as wholesale/retail/consumer, promotions strategy rather it is push/pull, and a distribution strategy. 3. How should the channel members be motivated to cooperate in achieving manufacturer’s distribution objectives? In question 3, a company needs to know the motivation of the channel members. They need an idea of what portfolio concept they will use for motivating ifferent types and sizes on channel members. Berman, B. Marketing channels: John Wiley Sons Inc. , New York, 1999, ISBM-13; 978-0471362616. Delton, L. E. , Strutton, D. Marketing Channels: A Relationship management Approach. New York: Prentice Hall, 1997. Frazier, G. L. Organizing and managing channels of distribution// Journal of the Academy of Marketing Science, Vol. 27, No 2, Spring 1999, p. 226-241 Guibert, N. Network governance in marketing commitment in business-to-business channels// Journal of Marketing Intelligence Planning, 2004, Vol. 2, No 6, p. 636-651. Remaining a small business is not easy. However, remaining small can have its advantages when it comes to business. One question many entrepreneurs ask them self is whether to stay small or expand. In some cases this decision can have its advantages and disadvantages. Why keep your business small? Staying small keeps the founder in close contact with the business, enables personalized service, enables flexibility, and you can make a profit sooner. Small keeps the f ounder in close contact with the business. You have the opportunity to be more personal and interactive with the customer. You can stay more attentive to feedback and hands-on interaction. This enables you to make decisions more quickly and carefully. When you have a larger business, decision can sometimes take too long and too can leave you with damaging results. Small enable personalized service and flexibility. A majority of communication in small businesses is between the customer and the company. There is usually not a chain that a customer has to go through when they need something. If they have an area of concern or need an answer quickly, small businesses make the process much more friendly to the customer. When you are small, you are much more flexible to adapt to change. You can tweak rules and policies that better benefit customers. Small also allows for a faster profit. You can save money in overhead much easier along with salary and benefit cost while keeping expenses low. By doing this, profit adds up at a much faster rate. When your company is just ran a few or a handful of people, there are opportunities that can be offered to you that you would not typically get in a larger business. You have more customer contact which gives you the leg up when dealing with customer objections and ways to overcome the challenges. A small business can also be cheap. The internet has cut many overheads of running a business. In the past, business owners needed to buy phones, land lines, offices, office equipment etc. These days, all they need is a website and a few business cards. â€Å"People make the mistake of believing that being bigger and more complex makes them better. This can be the opposite: the more simple and small your business is the better you product or service is going to be (Westbrook, 2011). Actor Rainn Wilson, who plays Dwight on the popular sitcom The Office. Wilson is the co-founder for soulpancake. co, which is a social networking site for people who are interested in debating life’s big questions. They ask questions and then have discussion with others on the site. This creates a platform for interaction rather that a traditional content site. It also allows users to define the content and enables soulpancake to be more malleable as a business (Elliott, 2013). Rainn enjoys keeping his business small and is not concerned with expanding the business. By keeping this website distant from networks such as twitter and facebook, he feels that the users can feel freer to express their philosophical thoughts with each other. Vector Resources, Inc. is a woman-owned small business that provides a variety os technical support services to the government as well as the private sector clients. Their small business success has been geared around their commitment to customer satisfaction. They work in partnership with their customers to understand their needs and priorities and provide responsive, value-added support (Weisband, 2002). Vector has remained a successful small business because they keep the company in close contact with the business, they enable personalized services, enable flexibility, and they make their profits sooner. Instead of being afraid, Vector embraces the fact that they are a small business. They are not ashamed and do not try to go large. They grow off the idea that a business will only be small once so take advantage and appreciate it while it lasts. Owning a small business also has its advantages when it comes to fraud controls. In 2012 only 56% of small business experience external audits, whereas larger business had 91% audited. Small business received fraud training at 18. 5% compared to nearly 60% at larger organizations. â€Å"The percentage of small organizations that have formal controls in place is just so dwarfed by the large organizations,† Andi McNeal, CPA said. He also goes on to say â€Å"We noticed a real opportunity for small organizations to invest in simple measure, even a code of conduct, which frankly shouldn’t cost more than a handful of hours of employee’s time. † With this being said, training for employees is reduced as well as the risk that larger businesses have to maneuver past. How to cite Paycom Marketing Plan, Papers