You will often find that many people confuse marketing with advertising or vice versa. While both components are important they are very different. Knowing the difference and doing your market research can put your company on the path to substantial growth.
Let's start off by reviewing the formal definitions of each and then I'll go into the explanation of how marketing and advertising differ from one another:
Advertising: The paid, public, non-personal announcement of a persuasive message by an identified sponsor; the non-personal presentation or promotion by a firm of its products to its existing and potential customers.
Marketing: The systematic planning, implementation and control of a mix of business activities intended to bring together buyers and sellers for the mutually advantageous exchange or transfer of products.
After reading both of the definitions it is easy to understand how the difference can be confusing to the point that people think of them as one-in-the same, so lets break it down a bit.
Advertising is a single component of the marketing process. It's the part that involves getting the word out concerning your business, product, or the services you are offering. It involves the process of developing strategies such as ad placement, frequency, etc. Advertising includes the placement of an ad in such mediums as newspapers, direct mail, billboards, television, radio, and of course the Internet. Advertising is the largest expense of most marketing plans, with public relations following in a close second and market research not falling far behind.
The best way to distinguish between advertising and marketing is to think of marketing as a pie, inside that pie you have slices of advertising, market research, media planning, public relations, product pricing, distribution, customer support, sales strategy, and community involvement. Advertising only equals one piece of the pie in the strategy. All of these elements must not only work independently but they also must work together towards the bigger goal. Marketing is a process that takes time and can involve hours of research for a marketing plan to be effective. Think of marketing as everything that an organization does to facilitate an exchange between company and consumer.
Friday, December 3, 2010
First Steps to Marketing a Small Business
It's difficult to start a business, let alone learn how to market it. It's not uncommon for new and small business owners to find themselves in the marketing role and quickly becoming overwhelmed. Don't worry, I'm here to help. There are marketing basics that are important to every small business owner. Marketing is not an expense it's an investment and it's important to have a clear understanding on where to start investing. If you can get this, you are one step ahead.
Let's talk about the basics, shall we? By the end of this series you'll have a clear understanding of not only what marketing is and why you should do it, but you'll also be well on your way to creating your own marketing plan. With a plan in hand and a basic understanding you will have taken the risk out of where your putting those marketing dollars.
What is Marketing?
We often hear about marketing and when we own a business we know it's something we are supposed to do, but what is marketing? There are so many definitions that describe marketing as small business owners understanding what it is can leave us confused. We hear about sales, advertising, public relations and marketing. Is there a difference? There is a difference and when that difference is understood it's easier to understand what tasks should be handled by specific roles within the company and under the specific actions entitled marketing. Good marketing is critical to the success of any business and understanding what it is will help your small business get started on the right foot.
Why Marketing is Worth the Expense
Many companies view marketing as an expense. Truth is when a business understands the importance and the role it plays in growing a business it's clear on why it should be considered an investment. Marketing is crucial when it comes to gaining the attention of prospective consumers and clients, developing products or service demand and turning those prospective consumers into customers. Marketing has an affect on your sales, pricing, promotions and your advertising strategies. When understand the importance of marketing you can use it to promote the ongoing transition of your services and products to the consumer; this can create success in your small business.
Understanding Market Research
Market research helps you to determine how your product or service will be accepted among different demographics. This information can help you in establishing which segment of consumers will have an interest in your product and services and ultimately end up purchasing from you. You can use market research to gain specific information such as determining the age group, gender, location, and income level of potential customers that you should target using your marketing message. Market research enables you to create a marketing plan for your small business that is not only effective, but also cost efficient.
Why Marketing Research is Important to Your Business
You've done your homework and you've invested time in marketing research, so why should you care about marketing research? There is a difference, let me explain. Market research gives the information that you need regarding the market. Marketing research is delving into the behavior and buying habits of a specific segment that you have decided to target and ultimately it saves you money in by helping you avoid costly marketing mistakes. Learn why it's important and how you can use it to be create effective marketing strategies for your small business.
Why Consumers Buy What They Buy
Our marketplace is changing, we see this in the spending habits of consumers as well as in the economy. Consumers are looking for something more than a flashy ad or attention grabbing commercial when considering where to spend their hard earned money. Learn why consumers buy what they buy and how you can influence their decision.
Marketing a Product vs. Marketing a Service
Marketing a service is different than marketing a product. There are certain things you need to consider and different steps you need to take in order to help the consumer feel comfortable. Learn what you what you need to do differently in order to market your service effectively.
What is a Marketing Plan?
A marketing plan serves as a roadmap when it comes to your marketing initiatives. It details the success route that you will need to follow to get your small business noticed by potential customers. A detailed marketing plan will show you what to do and help you understand why you are doing it. It will also help you navigate away from the marketing and business mistakes that will cost you money, time and future growth potential. As a small business owner equipped with a marketing plan, you will feel more organized, have more confidence and a clear vision when it comes to your marketing goals. Put in simple terms a marketing plan increases your chance to achieve the business success that you desire.
Create a 90 Day Marketing Plan
If you've never created a marketing plan, I also suggest that you try doing the 90-day plan. It is less intimidating and helps you to focus on the short-term need. You can also focus on the immediate needs of the company. There are many benefits to creating a 90-day plan. Learn how a 90-day plan can keep you on target and help in your overall master planning.
Marketing Trends for the New Decade
How will your business do in the next decade? I think that all depends on how you market and the relationships that you create and cultivate. It's time to pull those marketing dollars back that aren't working for you and begin to invest them in ways that will give you more of a return. If you are ready, what are you waiting for? I give you my Marketing Predictions for 2010 and the decade that follows - out with the old and in with the new.
Let's talk about the basics, shall we? By the end of this series you'll have a clear understanding of not only what marketing is and why you should do it, but you'll also be well on your way to creating your own marketing plan. With a plan in hand and a basic understanding you will have taken the risk out of where your putting those marketing dollars.
What is Marketing?
We often hear about marketing and when we own a business we know it's something we are supposed to do, but what is marketing? There are so many definitions that describe marketing as small business owners understanding what it is can leave us confused. We hear about sales, advertising, public relations and marketing. Is there a difference? There is a difference and when that difference is understood it's easier to understand what tasks should be handled by specific roles within the company and under the specific actions entitled marketing. Good marketing is critical to the success of any business and understanding what it is will help your small business get started on the right foot.
Why Marketing is Worth the Expense
Many companies view marketing as an expense. Truth is when a business understands the importance and the role it plays in growing a business it's clear on why it should be considered an investment. Marketing is crucial when it comes to gaining the attention of prospective consumers and clients, developing products or service demand and turning those prospective consumers into customers. Marketing has an affect on your sales, pricing, promotions and your advertising strategies. When understand the importance of marketing you can use it to promote the ongoing transition of your services and products to the consumer; this can create success in your small business.
Understanding Market Research
Market research helps you to determine how your product or service will be accepted among different demographics. This information can help you in establishing which segment of consumers will have an interest in your product and services and ultimately end up purchasing from you. You can use market research to gain specific information such as determining the age group, gender, location, and income level of potential customers that you should target using your marketing message. Market research enables you to create a marketing plan for your small business that is not only effective, but also cost efficient.
Why Marketing Research is Important to Your Business
You've done your homework and you've invested time in marketing research, so why should you care about marketing research? There is a difference, let me explain. Market research gives the information that you need regarding the market. Marketing research is delving into the behavior and buying habits of a specific segment that you have decided to target and ultimately it saves you money in by helping you avoid costly marketing mistakes. Learn why it's important and how you can use it to be create effective marketing strategies for your small business.
Why Consumers Buy What They Buy
Our marketplace is changing, we see this in the spending habits of consumers as well as in the economy. Consumers are looking for something more than a flashy ad or attention grabbing commercial when considering where to spend their hard earned money. Learn why consumers buy what they buy and how you can influence their decision.
Marketing a Product vs. Marketing a Service
Marketing a service is different than marketing a product. There are certain things you need to consider and different steps you need to take in order to help the consumer feel comfortable. Learn what you what you need to do differently in order to market your service effectively.
What is a Marketing Plan?
A marketing plan serves as a roadmap when it comes to your marketing initiatives. It details the success route that you will need to follow to get your small business noticed by potential customers. A detailed marketing plan will show you what to do and help you understand why you are doing it. It will also help you navigate away from the marketing and business mistakes that will cost you money, time and future growth potential. As a small business owner equipped with a marketing plan, you will feel more organized, have more confidence and a clear vision when it comes to your marketing goals. Put in simple terms a marketing plan increases your chance to achieve the business success that you desire.
Create a 90 Day Marketing Plan
If you've never created a marketing plan, I also suggest that you try doing the 90-day plan. It is less intimidating and helps you to focus on the short-term need. You can also focus on the immediate needs of the company. There are many benefits to creating a 90-day plan. Learn how a 90-day plan can keep you on target and help in your overall master planning.
Marketing Trends for the New Decade
How will your business do in the next decade? I think that all depends on how you market and the relationships that you create and cultivate. It's time to pull those marketing dollars back that aren't working for you and begin to invest them in ways that will give you more of a return. If you are ready, what are you waiting for? I give you my Marketing Predictions for 2010 and the decade that follows - out with the old and in with the new.
Breaking Into the Career Field of Marketing
A career in marketing is enjoyable and fun. Most people who work in marketing will tell you it provides them with the challenge they have always wanted. The reason being is marketing is always changing; there are always techniques to learn, cases to study, and strategies to research.
Do you have what it takes?
As a marketing major you can gain experience in your chosen career by participating in an internship or volunteering in service learning and community projects. Samples of potential experiences include:
Don't worry. I think you will find the statistics in the chart to the right not only interesting, but encouraging. The table below shows the percentage and the degree background of new graduates that have begun a career in marketing.
So now that I've given you hope, how do you get your foot in the door? It will take determination and persistence, but it can be done. You will find that a start in marketing will normally put you in an entry position as a market research assistant, print buyer, general management trainee, or you can enter a program as a graduate trainee.
A few companies that offer marketing graduate trainee programs include:
Mars
Mars does not have a specific marketing training program for graduates. They run a cross-functional management development program, through which graduates have access to opportunities in marketing. Recruits to the program are typically given three to four assignments, the first of which may be related to their experience or studies. The remaining assignments will be in other areas, and one may be overseas. Their goal is to broaden trainees' experiences.
Nestle
Nestle has recently changed its approach to hiring graduates. Nestle recruits in a similar fashion as to how they recruit other employee levels. Each department now recruits graduates throughout the year on an 'as-required' basis. Vacancies will be posted and advertised throughout the year.
Procter and Gamble
Procter & Gamble's graduate training program recruits graduates into one of eight career tracks, including consumer and market knowledge and marketing. Consumer and market knowledge involves sophisticated and proactive market research-based work to identify business opportunities, including new product development. The marketing function involves growing the value of brands within the P&G product range. Marketing trainees will learn about advertising, PR, consumer bonding, direct marketing and project management within their first two years. The applicants are selected according to application form, a problem-solving test, interview, and site visit, where they will meet prospective managers and colleagues.
If you decide that the graduate training program route is not for you; you can still break into the field of marketing by being persistent. You will need to be willing to take on an entry-level position in most marketing agencies and work your way up. If this isn't a problem then it's time to begin your first marketing assignment, which is marketing you by developing that resume.
Do you have what it takes?
- Can you communicate your thoughts, ideas, and information clearly and concisely both in writing and verbally?
- Are you able to recognize problems and devise an appropriate plan of action to resolve that problem?
- Can you organize and interpret complex data?
- Are you good at generating new ideas? Can you then take and organize those ideas and communicate them verbally?
As a marketing major you can gain experience in your chosen career by participating in an internship or volunteering in service learning and community projects. Samples of potential experiences include:
- Conducting Market Research for a Fortune 500 Company.
- Promoting products through development of Point-of-Purchase displays.
- Spending time reviewing potential cost, price, and market research for service programs.
- Learning how to research customer base potential using available data.
- Designing an advertising or promotional campaign to promote new services.
- Developing a marketing plan for a global business.
Don't worry. I think you will find the statistics in the chart to the right not only interesting, but encouraging. The table below shows the percentage and the degree background of new graduates that have begun a career in marketing.
So now that I've given you hope, how do you get your foot in the door? It will take determination and persistence, but it can be done. You will find that a start in marketing will normally put you in an entry position as a market research assistant, print buyer, general management trainee, or you can enter a program as a graduate trainee.
A few companies that offer marketing graduate trainee programs include:
Mars
Mars does not have a specific marketing training program for graduates. They run a cross-functional management development program, through which graduates have access to opportunities in marketing. Recruits to the program are typically given three to four assignments, the first of which may be related to their experience or studies. The remaining assignments will be in other areas, and one may be overseas. Their goal is to broaden trainees' experiences.
Nestle
Nestle has recently changed its approach to hiring graduates. Nestle recruits in a similar fashion as to how they recruit other employee levels. Each department now recruits graduates throughout the year on an 'as-required' basis. Vacancies will be posted and advertised throughout the year.
Procter and Gamble
Procter & Gamble's graduate training program recruits graduates into one of eight career tracks, including consumer and market knowledge and marketing. Consumer and market knowledge involves sophisticated and proactive market research-based work to identify business opportunities, including new product development. The marketing function involves growing the value of brands within the P&G product range. Marketing trainees will learn about advertising, PR, consumer bonding, direct marketing and project management within their first two years. The applicants are selected according to application form, a problem-solving test, interview, and site visit, where they will meet prospective managers and colleagues.
If you decide that the graduate training program route is not for you; you can still break into the field of marketing by being persistent. You will need to be willing to take on an entry-level position in most marketing agencies and work your way up. If this isn't a problem then it's time to begin your first marketing assignment, which is marketing you by developing that resume.
Develop Your Annual Marketing Plan
January many businesses sit down to revisit their business plan, but pay no attention to their marketing plan. There is never a better time than the end of the year or beginning of a new year to sit down and reflect on what worked for you and what didn't. It's also a great time to develop a marketing calendar for the upcoming year.
An annual marketing plan will assist you in figuring out what it is that you need to do, how to do it, and when to do it. This marketing plan should go hand-in-hand with your business plan and development.
In this marketing course we will revisit your marketing goals and determine what it is that you hope to achieve in the upcoming year with your marketing efforts. Often companies avoid this process because they don't know where to begin the process. That is what I am here for. Over the next eight weeks I will walk you through the steps of creating a solid marketing plan. At the end of our course you will have completed the following:
An annual marketing plan will assist you in figuring out what it is that you need to do, how to do it, and when to do it. This marketing plan should go hand-in-hand with your business plan and development.
In this marketing course we will revisit your marketing goals and determine what it is that you hope to achieve in the upcoming year with your marketing efforts. Often companies avoid this process because they don't know where to begin the process. That is what I am here for. Over the next eight weeks I will walk you through the steps of creating a solid marketing plan. At the end of our course you will have completed the following:
- Preparation of your mission statement and vision for the upcoming year.
- Discover and define your niche markets.
- Describe and identify your services.
- Develop and plan your marketing strategy.
- Explore and identify your competition.
- Create quantifiable marketing goals.
- Create a marketing calendar that contains a month-by-month schedule of marketing activities and events for the upcoming year.
- Learn how to monitor the results of your marketing efforts.
Thursday, December 2, 2010
Real Estate For Sale in Jamaica - Available Properties (Part I)
| Home For Sale in Mandeville, Manchester Jamaica - Lot # 2 Marshall Drive | $390,000 USD | |||||
 Custom Built Split-Level House - This beautiful split-level custom built house is nestled on the out skirts of Mandeville in the parish of Manchester, and is centrally located to schools, churches,shopping centers,and the local market where one is able to purchase fresh picked ... | ||||||
| Country Home/Retreat For Sale in St Andrew Jamaica - Mount Airy District | $495,000 USD | |||||
 Idyllic Peri-Urban Mountain Retreat - ‘WEE HAVEN’ AT LANGLEY, ST.ANDREW, JAMAICA Mountain views surround ‘Wee Haven’ at Langley – views maximised in a stunning 352 square-foot, south-facing wood and glass, sunken living room, with hardwood floor; and on balconies around the ... | ||||||
| Substantial Luxury Duplex For Sale in Montego Bay, St James Jamaica - Montego Bay | £350,000 | |||||
 Substantial Luxury Duplex - Excellent Rental Potential - Substantial duplex luxury property boasts excellent rental potential/ideal retirement proposition. 1st floor comprises 4 double bedrooms, inclusive of Master with large (shared) en-suite bath and walk-in his&her closets. 2 further good-sized ... | ||||||
| 2 Bedroom Townhouse For Sale in Montego Bay, St. James Jamaica - Mango Walk | $175,000 USD | |||||
 Oceanview Caribbean Townhome - ... | ||||||
| Private Residence For Sale in Montego Bay / Rose Hall/ Spring Farm, St. James Jamaica | ||||||
 Luxury Private Residence - ... | ||||||
| Manufactured/Mobil Home For Sale in Kingston Jamaica | $243,000 USD | |||||
| Come Home And Relax In Cool Jamaica - 5 bedrooms, 3 bathrooms, 2 kithchens, living and dining, and varendah. Approximately 2,000 square feet concrete structure with glass louvres. 1/3 acre well fruited flat/level land with such delights as mango, guava, ackee, sweetsop, orange ... | ||||||
| Home For Sale in Manchester Jamaica | $400,000 USD | |||||
 Experience The Ultimate... Priced To Sell (us$) - TAKE ADVANTAGE OF THE NEW PRICE OF THIS PROPERTY!! This home sits on the most magnificent 22,000 square feet lot (1/2 Acre) with an enchanting view of the town, luring you each morning from the Master Bedroom unto the cicular "Picture Patio". ... | ||||||
| Home For Sale in Manchester Jamaica | $400,000 USD | |||||
 There's No Place Like Home... Priced To Sell!! - ** Quality Construction ** Two Finished Levels ** Three Full Baths one with shower stall ** Master bathroom has Lixury Soaking Tub and Twin Sinks ** Four Spacious Bedrooms ** Carpeting on Upper Floor - Bedroom areas ** Completely fenced for ... | ||||||
Real Estate For Sale in Jamaica - Available Properties (Part II)
| Penthouse Apartment For Sale in Ocho Rios, St Ann Jamaica | $258,000 USD | |||||
 Penthouse 2+ Bedroom Apt With Beautiful Views Of Ocho Rios - Breathtaking views in the popular Ocho Rios development. 2 bedroom, 3 bathroom penthouse apartment. Master bedroom with ensuite and two balconies overlooking Ocho Rios. Large living room that can be used as a converted third bedroom area. All ... | ||||||
| Sea Front Luxury Villa For Sale in Port Maria, St. Mary Jamaica | $1,650,000 USD | |||||
 Oceanfront 7 Bedroom Multi Level Luxury Villa In Port Maria - Beautiful sea front family home with absolute sea frontage, overlooking the beautiful lush Port Maria tropical coastline with the sparkling blue Caribbean sea as your backyard. spacious 7 bedroom, 6.5 bathrooms built over 3 levels with large ... | ||||||
| Home Plus Land For Sale in Santa Cruz, St Elizabeth Jamaica - Longwood District | £105,000 | |||||
 Beautiful 3 Bed Home For Sale Plus Land - St Elizabeth - Attractive and well maintained detached 3 bed (all doubles) 2 bath bungalow on approximately 0.75 acres providing ample opportunity to develop and/or extend. Quiet residential area in close proximity to local town, shops etc. Represents a ... | ||||||
| Lot/Land For Sale in Montego Bay, Jamaica | $65,000 USD | |||||
| 1/3 Acre In Irwin Point /Beautiful Location In Montego Bay - Terrific location on a hill in Irwin Point. Beautiful homes being constructed as well as the new University of West Indies campus in the vicinity. Doctors and lawyers building their homes in this area, great area to build and live! Cool breeze ... | ||||||
| Lot/Land For Sale in Negril, Westmoreland Jamaica | $1,500,000 USD | |||||
 Prime Beach Property Right On Negril's Famous 7 Mile Beach - Sunset guaranteed! One acre of prime beach front property right on the 7 mile beach of Negril, Jamaica, which is one of the most beautiful beaches in the world. One acre of the property right on the beach is selling @ 1,600,000 Mio $, two acres ... | ||||||
| Luxury 4bdrm Villa For Sale in Runaway Bay, St Ann Jamaica - 8 Edwards Avenue | $429,900 USD | |||||
 Private Luxury Villa With Pool & Wrap Around Covered Terrace - Beautiful Caribbean luxury villa. Very private, with high 10ft security wall and 8ft electronic entrance gate. Backs onto greenspace and front overlooking golf course. 2 minutes to private access beach. Private pool with lovely wrap around terrace, ... | ||||||
| 2 & 3 Bedroom Luxury Condos For Sale in Ocho Rios, Jamaica - Main Street | $360,000 USD | |||||
 Crystal Cove Is The Premier Condo Development In Ocho Rios - The Crystal Cove Community is located on a coastal property of one and a half acres, approximately five minutes east of Ocho Rios ( one and a half hours from Montego Bay and Kingston Airports. The development is an upscale, secure gated community ... | ||||||
| Unique Home For Sale in South Sea Park West Whitehouse, St. Elizabeth Jamaica | $450,000 USD | |||||
 Paradise Found! - PARADISE FOUND! DON’T MISS THIS OPPORTUNITY OF A LIFE TIME. EVERYTHING INCLUDED IN PRICE! This property says Welcome Home. This spectacular turnkey property has everything you can imagine it would have including being in a gated community, ... | ||||||
| Villa For Sale in Golden Grove/ Crescent Park, St. Ann Jamaica | $140,000 USD | |||||
 Escape Villas-Most Excellent Buy! - Welcome to a choice hideaway, a year-round paradise, with pampered luxury at an affordable price. Escape Villas is located in the cool hills of St. Ann, the Garden Parish of Jamaica, just minutes from, the tourist mecca of Ocho Rios. This small all ... | ||||||
| Villa For Sale in Montego Bay Jamaica - Coconut Cottage | ||||||
 Private Villa & Pool 20 Minutes From Montego Bay Airport - Five (5) bedroom villa (2 bedrooms in separate cottage). Comfortable and relaxing with lovely ocean views and breezes. ONE (1) BEDROOM FOR $125 per night, TWO (2) BEDROOMS $200 per night. $75 for each additional bedroom Rate includes ... | ||||||
| Luxury Villa's For Sale in Runaway Bay, St. Ann Jamaica | $850,000 USD | |||||
 The Most Private Luxury Property To Be Found - Fern Hill Villa is a beautiful Villa sitting 600 feet above the caribbean sea. It is just two minutes from Breezes golf course, and just a few minutes from our private Cardhiff Hall beach. We sit on about three acres of well groomed grounds ... | ||||||
| House Plus Apartments For Sale in Port Antonio, Portland Jamaica | $249,000 USD | |||||
 Executive Villa+ 2 APTS..PRICE Reduced - Executive 2 bedroom Villa + 2 studio apartments for rental income. Located in existing subdivision only 1 minute from new coastal highway. Balconies on all levels with panoramic views of coastline, Rio Grande River and Mountains. Newer ... | ||||||
| 1.5 Acre Ocean View Lot For Sale in Spring Farms Montego Bay, Jamaica | $260,000 USD | |||||
 Ocean View Luxury Property In Gated Community - Montego Bay - Seller Comments: Located In Rose Hall Montego Bay - Spring Farm is an upper - income residential development that hugs the Half Moon Golf Course. The subdivision comprises over 100 lots ranging from 1 to 5 acres. It is bounded by Coral Gardens ... | ||||||
| Single Family For Sale in Portland, Port Antonio Jamaica - Lot #2 | ||||||
 Prime Location!!!!, Beautiful Lot!! Must Sell!! - A must see!, Started construction in 2008, let my lost be your gain!! Must sell, price is negotiable Please contact Keith Ripton Miller for showings at 876-993-9288, serious inquires only! Thank ... | ||||||
| Seafrontlots For Sale in Strawberry Fields/Robins Bay, ST.MARY Jamaica - Robins Bay P.A. | ||||||
 Beautiful Seafront Lots Available On Northeast Coast - Lotsizes vary between 2000 sqm and 4000 sqm for Resitential use. The land is mostly flat, lush and green with it`s own jointly owned Beach. Spectacular views along the coastline and to the Blue Mountains from the lots. Safe environment in small ... | ||||||
| Luxury Villa For Sale in Clarendon, Osborne Store Jamaica - Bustamante Highway | $115,499 USD | |||||
 2, 3 & 4 Bedroom Homes For Sale In Jamaica: Gated Community - 2, 3 & 4 Bedroom Homes for sale in Jamaica. Located in a gated community in Osborne Store, Clarendon. www.rockmocho.com Pre-Approved for mortgage by the Jamaica National Building Society Approved by the Jamaica Real Estate Board ) ... | ||||||
| House For Sale in Morant Bay, St. Thomas Jamaica | $232,000 USD | |||||
 Unfinished House For Sale - Unfinished 3300 sq. ft house on a 73 x 72ft front & back respectively, sides 136 x 134ft. Close proximity to main town of Morant Bay, accessible transportation. $230,000 US, £143,000... House can be completed to your liking by current owner/ ... | ||||||
| 5 Bedroom Bungalow For Sale in Petersfield, Westmoreland Jamaica | $240,000 USD | |||||
 Beautiful 5 Bedrooms Bungalow For Sale Or Rent - this bungalow is located in a friendly area on nearly 1 acre with fruit trees just 6 km from Savanna la Mar. Build in 1993 with solar on the ... | ||||||
| Luxury Villa And Studio 7 Bedrooms For Sale in Runaway Bay, Jamaica | $1,500,000 USD | |||||
 Luxury Villa & Studio Overlooks Golf Course & Sea 7 Bedrooms - This property is a good income earner and comprises of three independent properties The Villa, The Studio and a two bedroomed apartment (staff) all very private with their own access. The property as a whole overlooks a championship golf course ... | ||||||
| Home For Sale in Christiana, Manchester Jamaica | $325,900 USD | |||||
 Custom Design Split-Level House - This house was built in 05. It is over 5000 Square feet and sports 6 bedrooms and 4 1/2 baths. The yard is fully landscaped. Located only 10 minutes from Spaulding or Christiana,and about 20 minutes from Mandeville makes this house an idea ... | ||||||
Real Estate For Sale in Jamaica - Available Properties (Part III)
| Ocean View Lots For Sale in Jamaica - South Coast | $39,900 USD | |||||
 100% Ocean View Lots , "Jamaica's Best Real Estate Value" - Ocean Terrace Jamaica presents Jamaica's best real estate value. OLYMPIC CHAMPION USAIN BOLT HAS ACQUIRED A LOT HERE AT OCEAN TERRACE ESTATES. Prime ocean view lots from quarter acre and larger 100% ocean view lots with panoramic views from every ... | ||||||
| Lot/Land For Sale in Lacovia, St. Elizabeth Jamaica | $800,000 USD | |||||
 Beautiful Land For Housing Development, ST.ELIZABETH,JAMAICA - 214 acres of flat land ideal for housing development. Lovely view of the south coast of Jamaica. Located near schools, shopping centres and commercial areas, hospital and sport centres. 20 minutes drive from the beautiful beaches of the south ... | ||||||
| 5 Bed Family Home Plus 2 Bed Rental Appartment For Sale in Mandeville, Manchester Jamaica | $375,000 USD | |||||
 Cool Cool Mandeville, 5 Bed Family Home With 2 Bed Apartment - 5 bedroom family home plus 2 bedroom self contained apartment on one third of an acre in Cool Cool Mandeville, Manchester, Jamaica. Primary residential location on quiet cul-de-sac within 20 minutes walk of the main high street in downtown ... | ||||||
| 2 Bed/Bath Apartment For Sale in Montego Bay, Saint James Jamaica - Pinehurst, Sterling | $200,000 USD | |||||
| Spacious Apartment In Ironshore Community Of Montego Bay - Spacious apartment in the exclusive Ironshore community. The complex is adjacent to the Ironshore Golf Club and minutes away from Montego Bay. The complex boasts pool, gym, clubhouse, and water tanks. Additional features include 24 hour security ... | ||||||
| Villa For Sale in Runaway Bay, St. Ann Jamaica - #230 Caribbean Village | $125,000 USD | |||||
 3 Bedroom (3 Bathroom) Villa In Resort Area - A 3 Bedroom (3 Bathroom) Villa located in the Caribbean Village/Sun Flower Villas property which is beside the Royal Decameron Club Caribbean Resort in Runaway Bay, St.Ann. The property is close to the sea front. 20km from Ocho Rios 65km ... | ||||||
| Lot/Land For Sale in Sligoville, St. Catherine Jamaica - Main Street | $34,000 USD | |||||
 Windover Subdivision: Scenic 2 Acre (and Larger) Lots - Windover Subdivision Acres of gently sloping land, fantastic views, cool climate and tranquil atmosphere situated at the top of Sligoville over looking much of the parish of St.Catherine. Sligoville possess magnificent scenery and provides ... | ||||||
| Plot Of Land For Sale in Negril, West End Jamaica | $105,000 USD | |||||
 Breathtaking 1/4 Acre Plot Of Land For Sale - Sale of Property Lot 31, Westlands, Negril, Westmoreland Jamaica MUST SELL $105,000.00 USD Negotiable to Serious Buyers Feel Free to Make an Offer!! Payments Can be arranged. Inquire Located in a peaceful upcoming area of Negril you have this ... | ||||||
| Home For Sale in Baulk District, Westmoreland Jamaica - Friendship P.O. | $275,000 USD | |||||
 2 Acre Gated Furnished Home Outside Of Savlamar Westmoreland - This custom home is ready for a new family and everything is included. The sellers will just be taking personal items with them. It is well built and well maintained home in a great mountaineous area of The Baulk District in Friendship P.O. Only 7 ... | ||||||
| Seafront,luxury Villa,condos in Portland, Jamaica - Ross Craig | $125,000 USD | |||||
 Forty Seafront Super Studio Units Fully Furnished. - Situated on a 70 foot cliff above the pristine Caribbean Sea, 65 miles from Kingston and two hours by car, is the site of Seacliff Village Resort and Spa. Only minutes from world renowned Errol Flynn Marina, Reach Falls, Rio Grande rafting, Blue ... | ||||||
| 4 Bedroom Detached House For Sale in Runaway Bay, St Ann Jamaica | $375,000 USD | |||||
 Large 4 Bedroom Detached House In Runaway Bay - Beautiful detached 4 bedroom home with separate, self contained 2 bedroom apartment Close to Ocho Rios Stunning views of mountain and ocean In Exclusive area with Neighbourhood watch Kitchen, Living Room, TV room Balconies off of 2 bedrooms, ... | ||||||
| Single Story Oceanfront Dream Home For Sale in Whitehouse, Westmoreland Jamaica - 78 South Sea Park | $450,000 USD | |||||
 Oceanfront Dream Home - Just listed this beautiful Dream Home on the Ocean in beautiful Whitehouse Jamaica. Only 6 years young oceanfront home, furnished, 3 bedroom, 2 baths, open floor plan, gazebo, pool, tiled flooring, cathedral ceiling, appliances included, ... | ||||||
| Oceanfront Cottages For Sale in Galina, St. Mary Jamaica | $1,795,000 USD | |||||
 Unique Oceanfront Property With Income Cottages - This oceanfront property with its own private small cove, offers fantastic views and significant commercial potential. It is currently awaiting final completion and it comprises of a large main house built out from a cliff and 3 cottages built ... | ||||||
| Bed and Breakfast For Sale in Negril, Westmoreland Jamaica - West End Road | ||||||
 Private And Charming Cottages Among A Lush Tropical Garden - Located on the West End, across from the famous Rick's Cafe, you will find this charming Bed and Breakfast. Set on over an acre of lush, established tropical gardens, you will find a four bedroom, two bath main house, lovely outdoor kitchen, six ... | ||||||
| Ocean View Home For Sale in Montego Bay, St James Jamaica | $500,000 USD | |||||
 Your Island Paradise - Gorgeous home in Coral Gardens, Montego Bay. Delightful to show. 7 bedrooms and 7 baths (7th bedroom could be helpers room)includes 2 fully contained one bed room apartments possible income potential, pool. Two minutes from Ironshore Golf Course, ... | ||||||
| 10 Minutes Drive From Mandeville For Sale in Jamaica - Spur Tree | $450,000 USD | |||||
 Cool Cool Mandeville - Twenty four acres of prime real estate in Spur Tree, Manchester.Just a 10 minute drive from the town of Mandeville which has all the facilities and amenities of a modern day town. Ideal for subdivision of lots or housing ... | ||||||
| Villa For Sale in Negril, Westmorland Jamaica | $250,000 USD | |||||
 On Top Of The World - 360 degrees,views of negril beach, morass,and mountains....there is nothing like this home, built by one of new yorks premier design ... | ||||||
| Townhouses For Sale in Mandeville, Jamaica | $193,000 USD | |||||
 Beautiful,Spacious Single Family Townhouses - ... | ||||||
| Beach House For Sale in Treasure Beach, St Elizabeth Jamaica | $600,000 USD | |||||
 Beach Villa For Sale Or Rent - This Beach house has ocean view from all rooms, relaxing secluded beach and spectacular sunsets. Located in Billy's Bay Treasure Beach, a safe community oriented village, you can relax and let the stresses of life fade into the ... | ||||||
| In Residential Area In Whitehouse For Sale in Whitehouse, Westmoreland Jamaica | $218,000 USD | |||||
 3 Bedroom House For Sale Or Rent In Whitehouse, Westmoreland - Delightful Seaside Property In Quiet Gated Community, Southsea Park 139 Whitehouse, Westmoreland between Sav-la-mar and Black River on the beautiful southcoast. Friendly neighborhood ideal for family and retiret people who likes to live in an ... | ||||||
| Oceanfront,cliffside Cottages For Sale in Negril, Jamaica - West End Rd | $1,500,000 USD | |||||
 For more information and to view more photos of the property, please visit the property's website. We're not allowed to put the web address in this description but you can find it by going to 'Citronella Jamaica Dot Com' or by searching | ||||||
Online Banking
| By Don Perry | |
Online banking isn't out to change your money habits. It simply uses today's technology to give you the option of bypassing the time-consuming, paper-based aspects of traditional banking in order to manage your finances more quickly and efficiently.
It is almost certainly the way most banking will be conducted in the not-too-distant future.
Benefits of banking online
Whether your bank is a traditional brick and mortar institution or a Web-only bank with no brick and mortar branches, online banking lets you connect to your bank through the Internet and do things such as view your accounts, transfer money between accounts, view images of canceled checks, print copies of those checks and pay bills online. You'll find that it's common for online banking sites to be compatible with money managing programs such as Quicken and Microsoft Money.
Whether your bank is a traditional brick and mortar institution or a Web-only bank with no brick and mortar branches, online banking lets you connect to your bank through the Internet and do things such as view your accounts, transfer money between accounts, view images of canceled checks, print copies of those checks and pay bills online. You'll find that it's common for online banking sites to be compatible with money managing programs such as Quicken and Microsoft Money.
Many banks make it easier to manage your checking account by allowing you set up e-mail alerts so you can be notified when checks clear or when your balance slips below a certain level. There is also a detailed listing of your canceled checks.
If you'd like to eliminate paper checks from your life, you'll find that a growing number of companies allow you to make automatic payments through your online banking account.
Getting set up for online bill pay
Getting started is easy. The bank's Web site will walk you through the steps of registering the bills you want to pay and the accounts you want to use to pay them. You'll only have to enter the information once. You can always make changes and add or subtract bills.
Getting started is easy. The bank's Web site will walk you through the steps of registering the bills you want to pay and the accounts you want to use to pay them. You'll only have to enter the information once. You can always make changes and add or subtract bills.
If a monthly bill is for the same amount each month, you might want to schedule a recurring payment. If the amount varies from month to month you can pay the bill each month on a "one time" basis.
Set your schedule
Once you have registered the accounts you wish to pay online, the next step is to schedule payments. Your creditors receive your online payment in one of two ways: electronic payment or check. If the company is set up to accept electronic payments, your payment is automatically debited from your account and deposited electronically into their account. If the company can't accept electronic payments, your bank issues a check based on your online payment instructions.
Once you have registered the accounts you wish to pay online, the next step is to schedule payments. Your creditors receive your online payment in one of two ways: electronic payment or check. If the company is set up to accept electronic payments, your payment is automatically debited from your account and deposited electronically into their account. If the company can't accept electronic payments, your bank issues a check based on your online payment instructions.
Most bill payment sites include a payment activity page that lists all of your payments and their status -- scheduled, pending or processed.
Be aware that companies sometimes change the billing address or your account number without warning. It's important to check your statement each month to verify those details as well as your transactions.
Security
You'll have a user name and password to access your online account. Just as with any information used to access any other financial account, you should keep these codes secret. Your bank will tell you what to look for -- usually an icon of a locked padlock -- to ensure you're accessing your account over a secure line.
You'll have a user name and password to access your online account. Just as with any information used to access any other financial account, you should keep these codes secret. Your bank will tell you what to look for -- usually an icon of a locked padlock -- to ensure you're accessing your account over a secure line.
You should also beware of a scam called phishing where crooks send out e-mails that might look exactly like e-mails from your bank. These e-mails often claim that some account or personal information is needed. You're asked to click on a link and fill in the information. As a hard-and-fast rule, never click on a link in an e-mail and then divulge account information. Call your bank -- don't use a phone number supplied in the e-mail -- and ask if the e-mail is legitimate.
Whether you bank online or prefer the old fashioned way, you receive a statement every month that details transactions and account status. In the next section, you'll see why you should take time each month to carefully review your statement.
Online Banking And Financial Marketing Info
What is online banking?
If you're like most people, you've heard a lot about online banking but probably haven't tried it yourself. You still pay your bills by mail and deposit checks at your bank branch, much the way your parents did. You might shop online for a loan, life insurance or a home mortgage, but when it comes time to commit, you feel more comfortable working with your banker or an agent you know and trust.Origin of online banking
The advent of the Internet and the popularity of personal computers presented both an opportunity and a challenge for the banking industry.
For years, financial institutions have used powerful computer networks to automate millions of daily transactions; today, often the only paper record is the customer's receipt at the point of sale. Now that its customers are connected to the Internet via personal computers, banks envision similar economic advantages by adapting those same internal electronic processes to home use.
Banks view online banking as a powerful "value added" tool to attract and retain new customers while helping to eliminate costly paper handling and teller interactions in an increasingly competitive banking environment.
Brick-to-click banks
Today, most large national banks, many regional banks and even smaller banks and credit unions offer some form of online banking, variously known as PC banking, home banking, electronic banking or Internet banking. Those that do are sometimes referred to as "brick-to-click" banks, both to distinguish them from brick-and-mortar banks that have yet to offer online banking, as well as from online or "virtual" banks that have no physical branches or tellers whatsoever.
Today, most large national banks, many regional banks and even smaller banks and credit unions offer some form of online banking, variously known as PC banking, home banking, electronic banking or Internet banking. Those that do are sometimes referred to as "brick-to-click" banks, both to distinguish them from brick-and-mortar banks that have yet to offer online banking, as well as from online or "virtual" banks that have no physical branches or tellers whatsoever.
The challenge for the banking industry has been to design this new service channel in such a way that its customers will readily learn to use and trust it. After all, banks have spent generations earning our trust; they aren't about to risk that on a Web site that is frustrating, confusing or less than secure.
Most of the large banks now offer fully secure, fully functional online banking for free or for a small fee. Some smaller banks offer limited access or functionality; for instance, you may be able to view your account balance and history but not initiate transactions online. As more banks succeed online and more customers use their sites, fully functional online banking likely will become as commonplace as automated teller machines.
Virtual banksIf you don't mind foregoing the teller window, lobby cookie and kindly bank president, a "virtual" or e-bank, such as Virtual Bank or Giant Bank, may save you very real money. Virtual banks are banks without bricks; from the customer's perspective, they exist entirely on the Internet, where they offer pretty much the same range of services and adhere to the same federal regulations as your corner bank.
Virtual banks pass the money they save on overhead like buildings and tellers along to you in the form of higher yields, lower fees and more generous account thresholds.
The major disadvantage of virtual banks revolves around ATMs. Because they have no ATM machines, virtual banks typically charge the same surcharge that your brick-and-mortar bank would if you used another bank's automated teller. Likewise, many virtual banks won't accept deposits via ATM; you'll have to either deposit the check by mail or transfer money from another account.
Advantages of online banking- Convenience: Unlike your corner bank, online banking sites never close; they're available 24 hours a day, seven days a week, and they're only a mouse click away.
- Ubiquity: If you're out of state or even out of the country when a money problem arises, you can log on instantly to your online bank and take care of business, 24/7.
- Transaction speed: Online bank sites generally execute and confirm transactions at or quicker than ATM processing speeds.
- Efficiency: You can access and manage all of your bank accounts, including IRAs, CDs, even securities, from one secure site.
- Effectiveness: Many online banking sites now offer sophisticated tools, including account aggregation, stock quotes, rate alerts and portfolio managing programs to help you manage all of your assets more effectively. Most are also compatible with money managing programs such as Quicken and Microsoft Money.
- Start-up may take time: In order to register for your bank's online program, you will probably have to provide ID and sign a form at a bank branch. If you and your spouse wish to view and manage your assets together online, one of you may have to sign a durable power of attorney before the bank will display all of your holdings together.
- Learning curve: Banking sites can be difficult to navigate at first. Plan to invest some time and/or read the tutorials in order to become comfortable in your virtual lobby.
- Bank site changes: Even the largest banks periodically upgrade their online programs, adding new features in unfamiliar places. In some cases, you may have to re-enter account information.
- The trust thing: For many people, the biggest hurdle to online banking is learning to trust it. Did my transaction go through? Did I push the transfer button once or twice? Best bet: always print the transaction receipt and keep it with your bank records until it shows up on your personal site and/or your bank statement.
BEST WAY TO SAVE MONEY
As I write this in June 2009, you generally need a credit score of at least 660 to get a mortgage. Not too long ago you could get a loan with as little as 580, but banks are more cautious these days because of the mortgage crisis (which was caused by lending to folks with low credit scores who ultimately defaulted on their loans).
Your credit score doesn't just dictate whether you can get a loan, it also impacts how good an interest rate you get. The worse your credit score, the higher the rate of interest. You might also have to have a larger down payment than otherwise. This bears repeating: Bad credit doesn't just mean you might not get the loan in the first place, it means that if you do get the loan, you'll have to pay more interest, and you'll be required to make a larger down payment.
Here's an example from MyFico.com in June 2009 about how credit scores might affect the interest rate -- and therefore the cost of the loan -- on a 30-year, $200,000, fixed-rate mortgage.
Rate | Payment | |
Loans are not generally available to those with credit scores below 660.
Consumer Reports also addresses this topic, saying, "Over the life of [a $150,000] loan, the people with the best credit scores may pay roughly $138,000 less than those with the worst."
The higher your credit score, the less you'll pay for your mortgage. The lower your score, the more you'll pay. It's therefore important that you improve your credit score if it's low.
Average credit scores | ||||||||||||||||||||
The median U.S. score is 723. Here's how the American population's credit scores stack up.
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Your credit report and your credit score are two different things. Your credit report is a list of things like your credit card and bank accounts, outstanding loans, and your payment history. Your credit score is a rating of how good your credit is, based on your report. In other words, your credit report is a bunch of pages, and your credit score is a number from 300 to 850.The main things on your credit report that hurt your credit score are:
You increase your credit score by cleaning up your credit report. The score is based on the report, so get a clean report, and you'll have a good score. We'll cover cleaning up your credit report later, but for now let's continue learning about your report and your score.
- Bankruptcy
- Outstanding (unpaid) debts
- Late payments
- Credit card balances near the credit limit on those cards
- Liens (both outstanding and paid)
You actually have three credit reports
The companies that keep track of your credit report are called credit reporting agencies (CRA's) or credit bureaus. There are three of them: Trans Union, Equifax, and Experian. So you actually have three credit reports, since there are three CRA's that track your credit. They're usually very similar (often nearly identical), but sometimes they can differ. For example, most credititors report late payments to all three CRA's, but some might report late payments to only one or two CRA's rather than all three.This means that if you need to clean up your credit report, you probably have to clean up three different credit reports. You never know which CRA your lender is going to consult about your credit (although some lenders will tell you if you ask). Many lenders consult all three CRA's, too.
You can get your own reports yourself because by law each CRA has to give you a copy of your report once a year if you ask for it. You start out at AnnualCreditReport.comwhich in turn sends you to each of the three CRA's websites. But be careful! These sites often make it hard to see how to get your report for free, while they put misleading come-ons for paid services right in front of you (free for the first 30 days after which they bill you every month). Many people sign up for these accidentally, thinking that that's what they need to do in order to get their credit report from the site. You can really get your reports from these sites for free, but you might have to hunt a while for the right options.
Also beware that these sites will generally try to sell you fake credit scores -- scores that are completely different from what your lender actually uses. To protect yourself against that, let's learn more about credit scores.
Kinds of credit scores
The most common kind of credit score is the FICO score, which is calculated by a company called Fair Isaac. Fair Isaac makes its money by selling the FICO scores on individual consumers to banks. When your bank buys a credit report from a CRA like TransUnion, it also buys the FICO score calculated from the TransUnion report. Since you have three different credit reports, you also have three different FICO scores. In fact, your bank might order all three scores.While the FICO score is the most common, the three CRA's each have their own scores that they try to sell to the banks. TransUnion sells a "TransRisk" score and Experian sells a "ScoreX" score. Banks generally use the FICO score because it's the industry standard, but some banks might go with the CRA brand because it's cheaper.
Many banks have also devised their own system to calculate credit scores from credit reports. That way they don't have to pay anyone for the credit score.
So there are potentially seven different scores your lender might see:
So why is this important? Because if you're checking your credit score(s), you need to make sure you're looking at the same one(s) your lender sees! The best way to find out what scores your lender uses is to ask them -- they'll generally tell you. If you don't have a lender in mind yet, then get genuine FICO scores, because that's what most banks use.
- The FICO score from the three CRA's
- The proprietary score from the three CRA's
- The lender's own internal score
Getting your credit scores
Paying for them
- You can get your TransUnion- and Equifax-based FICO scores fromMyFico.com for ~$32.
- You can get just your Equifax-based FICO score for $16, which is okay only if you know that that's the only score your lender is going to look at.
- You can't buy your TransUnion-based FICO score alone from anywhere. The only way to get your TransUnion-based FICO score is to buy it together with the Equifax-based score from MyFico.com.
- You can't get your Experian-based FICO score from anywhere, because Experian doesn't allow consumers to have it, even if they pay. Only your lender can see it. (Yeah, Experian has gotten a lot of flak about that.) You can buy Experian's proprietary score (which is what they want you to do), which will at least give you an idea of how good your Experian credit report is.
- Beware of sites offering "Your Credit Score", since 99.9% of the time they're not real FICO scores. That's true on even the TransUnion and Experian sites, which don't sell FICO scores directly. The only places to get real FICO scores areMyFico.com (TransUnion + Equifax) or Equifax (Equifax only).
Getting them for free
You can ask your lender for your score(s) once they've run your credit. Getting your credit scores after you've applied for a loan is kind of like putting your seatbelt on after you've already had a wreck, but if you've already applied for a loan, your lender will often tell you your score if you ask. In fact you should ask for a copy of the whole report(s), so you can get an idea of what the problems are if your score is low. Most lenders make you pay for the report(s) before they order it, and if that's the case and they won't share it, point out that you paid for it, not them.Of course, if the lender already approved your loan and you got a great interest rate, then your credit score is kind of a moot point. But if you didn't get the lowest rate possible, then you'll want to shop around at other lenders, and in that case you need to know what's on your credit report to see if you can clean it up to improve your score. (More on that later.)
Another possible way to get a free FICO score is through your credit card company. Most cards don't offer this service, but some do. For example, with my Washington Mutual card, I can login to my account online and see my FICO score based on my TransUnion report. The problem here is that you can't see the other two FICO scores, and if you're making an investment as big as buying a house, it's best to cover all your bases and get all three.
Do I need to improve my credit score?
That depends on how good your credit is, of course.
Excellent credit. If you know that each of your FICO credit scores is 760 or higher, your credit is excellent and there's no need to try to improve your score.Good credit. If your FICO scores are between 700 and 759, then you have a choice: cleaning up you reports and getting your scores about 760 will get you a slightly higher interest rate, but not much. (See the table above.) So it's up to you whether it's worth your time in trying to improve your credit rating.
Fair to Bad credit. If your FICO scores are less than 700, or if you don't know your scores but you have your credit reports and can see that they list negative items, then it's time to start rebuilding your credit.
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