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Who was Joeseph Alois Schumpeter? And what the hell has he got to do with internet marketing?

Joeseph Alois Schumpeter, was born in Moravia in present day Czech Republic, he later became an american citizen. An ecconomist and potitical scientist, who tried to integrate sociological understanding into his ecconomic theories. He saw innovation as fundamental to the entreprenurial process of wealth creation and is one of the most influencial ecconomist of the first half of the 20th centruary.

He produced two major strands in his work and you can apply either to your business today.

Schumpeter I

In his earlier writings mostly termed Schumpeter I, there is the idea of the entrepreneur as the heart of the business. Idea generation is the birth-place of many great new products. Without an idea we wouldn’t have a keyboard to type the article on etc etc.. Within the Schumeter I approach the role of the individual is of absolute importance. Whithin this model for successful new product generation and innovation you would have to be the entrepreneur yourself.  If this is your path then I highly recommend you take Russell Brunsons training on offer at the contest.

The world however got smaller when the size of corporations grew and with this Schumpeter produced a second model of innovation which is generally termed the Schumpeter II model.

Schumpeter II

This second theory of innovation has been changed radically because of the size and overlap of industries, things being more interconnected and the flow of information being much faster. It is easy these days to scale something to fit a niche to rebrand something alter some content and pass it off as your own. Even collaborate on multiple tasks with multiple people accross many geographies involving multiple media and many timeframes. Check out Soren’s eBook and start producing your own innovations based from a quality platform.

What are the strategy issues involved in a product launch?

This begs the question what is a strategy and there are plenty of different versions of this. Here’s a few for you to muse over while we look at some strategies involved in product launches.

“Strategy is the direction and scope of an organisation over the long term: which achieves advantage for the organisation through it’s configuration of resources within a challenging environment, to meet the needs of markets and stakeholder expectations.” Johnson

“course of action for achieveing an organisation’s objectives.” De Witt & Meyer

“Goal-directed descisions and actions in which it’s capabilities and resources are matched with the opportunities and threats in the external environment.” Coulter

“Strategy of a corporation is a comprehensive plan stating how the company will achieve it’s mission and objectives.” Hunger & Whellen

It is not a short term aim. This is a massive issue that most one man bands cannot fathom when they come online, when they purchase their product and it doesn’t change their lives in a month they become disheartened with marketing and they believe that the only successful strategy is to be a conman and cheat their way to riches like they think the over hyped product they purchased promised them.

Strategy depends on the competitive environment.

This requires an ongoing undestaning of the marketplace you exist within it’s customers as well as consumers. Existing competitive products and potential new entrants into the same marketplace. With regards these points why would anyone want to enter the affiliate marketing for marketers market place?

Opportunities

There is a never ending stream of new customers entering this marketplace. More of the world is coming online every day and the speed and increase of quality connections is growing every day.

The competing products in this marketplace can be improved upon. Even the very good ones you can add your input and offer support to the product that some other product owners cannot match if anyone has downloaded Soren’s internet marketing success formula. Then leave me a comment on that post with anything else you require clafification off.

There will always be a new medium that you can promote your business through if you watch the market leaders and general super-affiliates then you can get a handle on what is new and working before it becomes saturated and your voice is one of many. Become a first mover and you will be noticed and gain presence.

Threats

Monetisation of leads and customers is becoming harder. There are many reasons for this a major one has been the increase in jv giveaways in our industry. Customers are expecting things free. See my previous post a change in internet marketing
Change in technologies if you are not looking at audio and video then you are already behind the times, this is also an opportunity if you embrace the moment.

For your own product launch
consider if?

1. You can compete on price and still offer value.
2. Are you looking to dominate a market or trying to block a competitors domination.
3. Is a prelude to a bigger and better offer.
4. Is it easily copied - People will rip you off.

If after you have looked at the four above then you must choose whether there is a need for what you have to offer and how it relates to your long term plans and goals.

Related Issues from this post

Kansas Reflections - A reflection on Problem-solving vs Decision-making
WarHistorian.org - Strategic Blogging
MiXT Media - 10 Strategic Communications Insights–from the Government, no less

This is cool and is asking you for backlinks back to yourself. One way links OK not anchor text but I’m going to investigate this somewhat further and update asap. However I did post two links pointing back to my mini reveiw of Internet Marketing Success Formula and see a little inbox stampede of 4 sign ups for Sorens free eBook.

What is ListCamp?

Seems to be a catalouge of lists compiled by it’s users and it is very very new or as yet very under used. I’m quite happy that a resource recommended by Stephen Pierce has a link back to my site on it’s front page right on the home page a link to my post 5 ways to make money from plr.

Click the What is list camp heading above and you’ll be taken back to their about page. There is not a huge deal there but this is the point in this social networking and bookmarking site that you can gain alot of exposure to your articles that contain lists because it is in it’s infancy you can build up a pressence. It’s a good idea people love lists.

It is being whispered about now at the very least get accross there and add a list of your products and services.

KillerStartups.com - list making fun

Ok social networkers here’s a new twist to the tale. We all look for some added functionality for our online networking capabilities how about if you could combine the power of digg and twitter to let those who veiw your feed at twitter have a feast of your recent diggs. Well now you can with this cool little offering.

Some potential drawbacks might be annoying the hell out of your current following at twitter if you digg 20 posts a day. I do about 2-3 so I don’t think I’ll really piss of my following especially when they start to notice some of their best posts in the twitter feed.

Although the benefits could be multiple growth in the amount of diggs that you and your network receive and end up on the front pages of Digg. Plese bear in mind there is no point ending up on the front page of Digg.com if there is nothing for them to read when there get back to your website that has any value at all to them.

Find me on Twitter.

mind me on Digg.

If your in the internet marketing niche and you post decent content on this site you are in serious danger of me using these tools to promote your site. If you link to my site you are in much greater danger.

1. Sell a PLR eBook just as you downloaded it.

Sometimes we find a PLR eBook that is so well written we don’t want to make any changes to it. This is a rarity so make sure that you do actually read it print it ou and read it through. It may be perfect for our target market so we want to put it out for sale immediately.

We should still change it a little your the author now, and adding some links of your own won’t hurt your business. Not quite sure of how to do this then watch this video If you’re not willing to do even that, then you should really revaluate whether this is for you. Go and watch sex in the city or something that’s going to empower something other than your bank balance.

This is the easiest way to make money from PLR, but it depends on a lot of factors including finding a good content writer and an eBook written on the exact topic we are targeting. This is no small task. And, let’s not forget the nature of PLR – hundreds of others have the exact same eBook, and they will inevitably be competing with you for sales the lazy way by spitting it out just as they found it.

2. Bundle Related PLR Products

Maybe you want to sell a package of products to give the buyer more value and increase the price of the sale. In this case you would scour the PLR sites, auctions, and forums to find several topically related eBooks, software, scripts, or articles.

This is a common marketing tactic used in other industries as well. Look at the video gaming market for example. The Xbox 360 unit was released with several “bundles”. The console itself sells for $300 but the Kids Starter Bundle is $500, the Sports Bundle is $600, and the Ultimate Gamers Bundle is a cool grand! Nintendo is the king of this once again the Wii Fit has sold out in the UK and you can only get it in the full bundle if you have something that is very in demand you can give more and charge more.

Whether real or not, consumers think that if they buy more of any one item, they are getting a better deal. It’s a great marketing ploy you will always see a buy one get one free offer in your supermarket, increases the value of the sale, and has been proven to work. Make sure you are adding value if you over burden your new buyer with rubbish they will never ever buy from you ever again.

3. Give It as a Bonus

If you already have a primary product or service and you’re looking for something to make your offer even juicier, a PLR product is the perfect answer.

Since PLR material is much cheaper than your own stuff or that of a freelancer, you can justify giving it away as an extra. Just make sure that the topics are similar don’t give a dog training book with a giving up smoking guide. And don’t be afraid to mix up the format. If your primary product is an eBook, then why not give your customers a complimentary piece of software or vice versa.

4. Use a PLR eBook to Promote another Product

One of the best ways to promote anything is to first develop a trust with your ne prospects. And, time and time again it has been proven that giving them free, useful information is the best way to develop that relationship.

You give them a free PLR eBook chocked full of information about a specific marketplace, and in that eBook you lead the reader to your primary software product (ex. The Ultimate Widget Automater), which solves their problem in some way. I can assure you they are much more likely to buy from an informational eBook than a hyped up sales letter any day of the week don’t not have the hyped up sales letter as well though.

5. Sell it on eBay

Cheaply to find potential buyers for your other products .If you are looking to generate leads for your other products or services, you may want to purchase PLR products and sell them on eBay or other auction sites at cost.

Sure, you won’t make anything on the initial sale, but if you modify the PLR product to link to your products or newsletter subscription, you will surely make some backend money.

The lifetime value of the customer is far more important than making a $3 or $5 profit on each piece of PLR. Build trust and you can sell over and over again and now you have a business rather than a fly by night operation.

grab some plr from Mike Ambrosio

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