SBANC Newsletter

November 6, 2007

Issue 495-2007

QUOTE

"Leaders are made, they are not born. They are made by hard effort, which is the price which all of us must pay to achieve any goal that is worthwhile."

    - Vince Lombardi

FEATURE PAPER

Waiting at Retail Encounter and Control over a Retail Situation: Impact of Customers' Presonality Traits

The following paper was presented at the 2007 Allied Academies International Conference - Jacksonville. It was written by M. Meral Anitsal of Tennessee Tech University and Ismet Anitsal of Tennessee Tech University.

Abstract

Services marketing literature on waiting at retail encounter indicates that customers’ willingness to wait for the service varies with customers’ perceptions about the importance of the service, their moods and emotions, and overall environment of the service encounter. Extant literature also indicates that there is little empirical research on customers’ role on the coproduction
of service and customers’ willingness on taking control of the service process and outcome. Situational factors make it difficult to integrate research results to form a coherent picture in this area. Customers’ personality traits may have an effect on how they perceive and respond to waiting in line and taking control of a retail situation. This paper presents an exploratory study that investigates how personality traits, namely extraversion, agreeableness and conscientiousness, influence customers’ behavior with regard to waiting in and control over a retail situation. Results indicated that among these three personality traits, extraversion most strongly influences waiting in retail situations. Both conscientiousness and extraversion had an impact on consumer behavior with regard to control over a retail situation. No relationship was found between any of the three personality traits and use of technology based self-checkouts.

Read the Entire Paper...

 

TIP OF THE WEEK

Promotion and Advertising

• Small employers think the most effective means to promote their business is positive word-of-mouth and associated referrals. Eighty-two (82) percent report word-of –mouth contributes substantially to generating their sales revenues.

• Of the promotional means that small employers directly and immediately control, personal selling and business location generate more sales revenues for more firms than other means. Advertising and Web sited also appear reasonably effective in generating sales revenues for the small, employing business using them.

• Few small, employing businesses generate significant revenues through telemarketing (5%), trade shows and events (10%) or free publicity (13%). Also, neither the strategies of price changes, that is to say, sales and specials (10%) nor changes in the mix of goods and services offered (15%) appear to yield significant revenues for many firms.

• Forty-one (41) percent of small, employing businesses advertise enough to that it contributes more than marginal amounts to revenue generation. The most frequent forms of advertising include Web sites; fliers, circulars, and handouts; newspapers; newsletters, bulletins, etc.; and direct mail. The least frequent forms include television; value packs or shopper supplements; outdoor off-premise signage; radio; and magazines.

• The single most important means of advertising for small, employing businesses are the Internet (16%), word-of mouth (15%), newspapers (15%) and direct mail (14%). Since multiple means are often employed, the importance of an advertising means and its frequency of use are not necessarily related.

• Half (50%) who advertise, advertise steadily throughout the year and another 25 percent do so with periodic ups and downs. Just 13 percent confine their advertising to a season or short period. The content of advertising material is typically (57%) developed by someone inside the business.

• Virtually all small employers use subjective means to evaluate the effectiveness of their advertising.

• Fifity-one (51) percent of small, employing business have a Web site, but their owners do not think that their site contributes much toward generating sales. Twenty-one (21) percent of those Web sites are equipped to make a secured financial transaction.

• Sixty-four (64) percent of small employers change the content on their Web site less frequently than once a month. Five percent do it daily or more often.

• Sixty-six (66) percent of small, employing businesses have a logo or trademark, including 84 percent of those employing 20 more people. However, just 43 percent have theirs registered with the government.


NFIB Research Foundation. National Small Business Poll – Promotion and Advertising. Volume 6, Issue 7, 2006. Executive Summary, page 1. Washington, DC.

 

ANNOUNCEMENTS

NFIB Research Foundation

SBANC has added 411sbfacts.com to the website. It is the ultimate source for information on what drives American small business. It is a free, regularly updated database of facts and figures about American small business, their owners, and their managers. To view the website click here.

SBI Journal - Request for Papers

The Small Business Institue is now requesting papers for the Small Business Institute Journal. If you are interested in submitting a paper, please let us know. The first issue is to be printed April 2008. For more information please click here or email us at sbij@uca.edu.

SBANC is Updating Their Entrepreneurship and Small Business Network

The Small Business Advancement National Center is currently updating their Entrepreneurship and Small Business Network. If you currently teach or know a professor in your school or state that teaches an Entrepreneurship or Small Business course, please provide us with any available information at sbanc@uca.edu. We appreciate any help. Thank you.

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CONFERENCES

ATINER
Who:
Athens Institute for Education and Research
What:

TSCF conference

Where:  Hawaii, USA
When: November, 15-19, 2007

TSCF
Who:
The Social Capital Foundation
What:

30th Annual ISBE Conference

Where:  Heriot-Watt University, Glasgow, Scotland
When: November 7-9, 2007

SWAM
Who: Southwest Academy of Management
What:

2008 Annual Meeting and 50th Reunion Southwest Acadmeny of Management

Where:  Hyatt Regency - Houston, TX
When: March 4-8, 2008

SMA
Who: Southern Management Association
What: Annual Meeting
Where:  Nashville, Tennessee, USA
When: November 7-10, 2007

ISBE
Who:
Institute for Small Business and Entrepreneurship
What: 30th Annual ISBE Conference
Where:  Heriot-Watt University, Glasgow, Scotland
When: November 7-9, 2007


CALLS FOR PAPERS


ICFAI
Who:
Institute of Chartered Financial Analysts of India Business School
What:

International Forum of Management Scholars

Where: Hyderabad, India
When: December 27-30, 2007

Submission Deadline:
November 15, 2007

 

SOBIE
Who:
Society of Business, Indutry, and Economics
What:

Annual Academic Conference of the Society of Business, Industry, and Economics

Where: Destin, Florida
When: April 15-18, 2008

Submission Deadline:
March 1, 2008

 

 




 

The SBANC Newsletter is provided as a service to the members of our affiliates: Academy of Collegiate Marketing Educators (ACME), Association for Small Business & Entrepreneurship (ASBE), Federation of Business Disciplines (FBD), International Council for Small Business (ICSB), Institute for Supply Management (ISM), The International Small Business Congress (ISBC), Marketing Management Association (MMA), Small Business Administration (SBA), Service Corps of Retired Executives (SCORE), Small Business Institute (SBI), Society for Marketing Advances (SMA), United States Association for Small Business & Entrepreneurship (USASBE), U.S. Department of Veterans Affairs (VA).. If you are interested in membership or would like further information on one of our affiliates, please see our web site at http://www.sbaer.uca.edu

 

SBANC STAFF

Main Office Phone: (501) 450-5300

Dr. Don B. Bradley III, Executive Director of SBANC & Professor of Marketing;

Direct Phone: (501) 450-5345

Brandon Tabor, Development Intern

Latedra Williams, Development Intern

Patrick Combs, Development Intern

 

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Small Business Advancement National Center - University of Central Arkansas
College of Business Administration - UCA Box 5018 201 Donaghey Avenue
Conway, AR 72035-0001
- Phone (501) 450-5300 - FAX (501) 450-5360