Financial Encyclopedia

Phone Marketing

2008-03-28T22:21:00.000-07:00

[Introduction]

Telephone marketing (Telemarketing) is a relatively new concept in the 1980s in the United States. With consumer-driven market and the formation, as well as telephone, fax, and other popular means of communication, many companies began to market this new type of approach. Telephone marketing is not random played a large number of calls, touch on luck to sell products from several samples. The phone often lead to consumer resentment and counterproductive. Telephone marketing is defined as: through the use of telephone, fax and other communications technologies, to achieve a planned, organized, efficient and expand customer base, increase customer satisfaction, customer maintenance, such as market conduct practices. The success of telephone marketing calls to both sides should be made to understand the value of telephone marketing.

Telephone marketing and many related terms, direct sales (Direct Marketing), Database Marketing (Database Marketing), one-to-one marketing (One to one Marketing), the Call Center (Call Center), the Customer Service Centre (Custom Service Center), etc. encompass all its content. These technologies focus on different aspects, but the aim is the same, that is, take full advantage of today's advanced communications computer technology, create business opportunities for enterprises, and increase revenues.

Here I would like to explain to focus on database marketing (Data Marketing) concept. Overseas, the daily mail pitch in a lot of advertising and the sale of housing, daily necessities, life insurance, etc., they are referred to as DM (Direct Mail). DM response is very low, generally around 1%, the vast majority DM directly into the containers. But if According to the survey data only to the DM will be distributed to those in need, people who may become customers, will greatly improve the response rate may generally be increased by 10 times to 20 times more. Database marketing is based on the data needs of customers looking for a set to start business activities. There are two sources of the database: their own enterprises or accumulated purchase from the outside.

[Telemarketing] market background

General urban households now have everything, in the shopping malls of goods is Ling Lang everywhere. The increasing number of consumers paying attention to the added value of commodities, and commodities concern is not only the basic functions. For example, the product can achieve the "services", "safety and security", "save time" and "cost savings" and so on, those consumers to choose their own meaningful, valuable commodity.

With the addition of information in the development of television, telephone, fax, Internet penetration at the same time, consumers have also gradually learned how to skillfully from the large amount of information to obtain the information they need. In this way, consumers do not have to specifically go to very far places, only in their own homes through telephone, fax, Internet will be able to get the necessary goods and information.

Modern enterprise, if as in the past, simply use its own operating resources development products, and sell them to those who do not have any choice for the customer, it is difficult to continue to survive. Understand the intentions of market demand, it is also necessary to consider what the customer layer, increase the added value of what, through what channels and media sales. In other words, the use of all possible opportunities to collect market information and analysis to its absorption, and then expand reproduction, the process has become an essential element of success. At the same time this process must be completed efficiently. In addition, the most appropriate customer-related investment and with specific customers to maintain a sustained growth of the relationship between the modern enterprise is also very important.

[Phone Marketing: Let your customers like dozens of reasons:

First, we should sincerely say

Only sincere person can only win the trust. We can not in order to improve individual performance, to persuade an annual output value of 5 million, twice a year to recruit people to do a business of our senior member. It is unrealistic and will be disgusted by the customer. First, we should from the company's customer base, in their respective professions, the scale of such factors as much as possible understanding of the upstream resources, judging from the situation continue to communicate with customers, enabling customers to feel we are professionals. Secondly, we in the HR manager with the company chat, to learn about the person's temperament, loving. If this were relatively busy, you put the customers, as defined, can also Bangqiaoceji, some sweet talk, their assistants or colleagues to understand. I think you know these, you will certainly be of great help offensive. Reportedly, President of the United States in Washington before a meeting with guests, the first day of the evening are to be seen in the person's interests and hobbies, Why not go ahead of us?

Two, and give customers a reason to buy

To the East Gate shopping last month, walked into a store, the proprietress of a warm welcome to us all kinds of clothes. After a few tried to find satisfaction not only look at the proprietress very warm, it is not directly Haoyisai away. I unexpected, as we visited for a half-hour thinkwhen she tried to those clothes we fight all the packages. I say we should not, some of the expressions on the proprietress has changed. Finally, I said, you give me a reason to buy! The owner nothing.

Always grasp customer needs and affordability understand the mentality of customers is the key to the final transaction. Very often, we do a lot of things, have wasted a lot of time, could eventually go for the goal on the Dawai. Above, I like to buy clothes, is to go originally, not too strong demand, but look at the availability of suitable, it is seen on the Amoy one. I think she can to become a big customer, whether from the reception to the final volume of transactions are in accordance with this level to achieve. The same as we do sales, a small company clearly only 12 strokes, we are with him throughout the year on such transactions to ultimately inevitably intensify the difficulties, but also bring benefits to customers not bad influence.

I fail most of the wife is the last point lost his temper mean, I would like to have is not to buy this, look at her Fortunately, the awareness of serving the people, this is rare, the next if she will buy things here, think She would like this half-hour is worth the talking. However, we sometimes too quick success, and promised, or acquiescence of the matter, did not materialize, we will often with little emotion, and customers so there will be obstacles to the exchange. We need to know the work is for sale, there are more elements in the service.

Remember that before they left a club, I read a review of the sales office, that the characters still Zhese several eye-catching: the customer is always right.

Third, let his customers know that a person not only bought this product

Humans have sheep mentality, the operational staff recommended products in a timely manner and he told some customers in the same or similar businesses or companies have purchased this product, particularly of the competitors is this purchase. This will not only give him to the psychological shock, but also the desire to enhance the purchase. According to experience, the company buying the same type of product, will certainly buy more advanced than our competitors, in order to fight against each other taxi gas.

4, enthusiastic sales most likely to succeed

Do not ask customers products, I say to you, a quote, you look at. Unless a client is very tight circumstances, you will see that a quote. It should also be said earlier, I am sorry, but you have to give introduced products, this could allow you read. Allow customers always feel you had in her body, she felt unrestrained feelings, such as flu-like iron Sunburn her. If time allows, that is, there is no demand, there is no demand or customers, we should also sincere and warm hospitality to them, who knows what her job is, she is what background she did not need her husband did not know how the demand; She did not demand, how her friends know that there is no higher title of a person? This is what I do, "Hui Ren Shenbao" the friend told me. Yes, we should have "extended, the people of the world are graduates of customers.

5, before the performance, not in a self-righteous

Many customers do HR little knowledge on the personnel work, the more we come into contact with, is a front desk clerk, or the personnel, and sometimes will ask some very naive question, please at this time we must not opinionated, that they understand about what , as a fool customers. Many customers do not like that elated, very deeply their own clever salesmen. If the customer really wrong, clever little and let him know that other people often make the same mistake, he is only guilty of the majority of people are just easy to commit mistakes. Many people close to life at home two rules: one, the wife is always right; Second, even if their wives are wrong, according to the first implementation. Outside the company, as long as you put the word slightly modified, a customer is always right, even if the customer wrong, it is our fault. I believe you is not only a "new man", but also a work of outstanding sales.

6, to listen to our customers, understanding customers think they think

Some clients want to buy his products are clear requirements, to listen to customer requirements to meet customer demand will make sales more smoothly. Instead of blindly would like to sell their products, unreasonably interrupt the customer, the customer's ear droning on, in all likelihood will fail.

7, you can give customers what kind of services, please listen to the customer said, can do to the customer

Customers not only want your pre-sale service, in the hope that you buy a product, to get good service, continuous telephone, holiday greetings, and so on, will give customers a good feeling. If agreed to, things do not find an excuse to delay or refuse to do, such as gifts, the timeliness of invoice sent.

8, not to denigrate others, before

Although competitors such as the poor or, should not, in the face of slander others to build himself up, this is very stupid, customers have often cause psychological repercussions. At the same time should not say that his company's Huaihua, in the face of complaints, not all the companies, customers will not be confident in putting on a talent recruitment even its own employees do not agree with the company.

9, when a customer has no intention at the time of purchase, do not use Laodiaoya sales tactics to pressure him

In many cases, customers do not have the intention to buy your products, this is the time to take the initiative or to continue to retreat to his perseverance sales? More appropriate approach is to retreat into, can be converted topic chat Point clients interested in things, or to look for opportunities to visit again, to the customer to purchase a psychological preparation process, do not want to further testament to immediately After all, this is the less fortunate the.

10, as the enemy troops, the rewards for the next

Clouds of War: for the enemy troops, the rewards for the next. Only you have the customer's heart, as her partner before you as a friend, so you will be the business of long-term, your friend will be more and more. Professional managers to do the big brother told me that only you made a friend of the customer, you will become broader and broader way to the contrary, it was just a flash in the pan.

Psychological not necessarily Daiyudarou entertainment, corruption, the icing on the cake as timely help. Peacetime greetings to the Chinese New Year holiday, the sentence for life,conditions, a glass of wine, enough, enough!

Duguqiubai, a Dugujiujian are known for. 9 sword, breaking several of the most superior gas, gas-broken cloud: a body to deal with the enemy by using the internal organs, and that's God,bent.

[Phone marketing of the benefits to the enterprise:

Promptly grasp customer needs now is the era of multimedia, multimedia interactive is a keyword (Intractive) that the two sides can communicate with each other. If we think carefully, and other media such as television, radio, newspapers and so on, will only news and data unilaterally pass each other, the only communication with the other side is the general telephone communication tools. Phone in a short time to listen to the views of customers, it is very important business tool. By the two sides to communicate, enterprises can understand the communication needs of consumers, opinions, and thus provide targeted services, and provide reference for future business.

Increase revenues telemarketing enterprises can expand their turnover. For example, like hotels, the Hotel Reservation Center, not only simply wait for customers to call reservations (Inbound), if customers to take the initiative to call (Outbound), it is possible to get more bookings, thereby increasing income. Because marketing is an interactive telephone communication, customer telephone (Inbound), is not limited to the reservation to meet customer requirements, but can also consider conducting some cross-selling (selling outside the requirements of the relevant products) and value-added resellers ( selling higher-priced products). This will expand the business turnover and increase enterprise efficiency.

Protect their relationship with customers by telephone marketing can establish and maintain customer relations marketing systems (Relationship Marketing). However, the establishment of a customer relationship, we must not rush immediately effective, there should be a long-term vision. Enacted stringent Scheme, the pursuit of enhancing the level of customer service. For example, during the visit clients, careful attention to the customer purchased products, services received, on the advice of the clerk call center response, as well as the purchase of store attendants response. Under these data in mind, the future will provide a wide range of telephone marketing help.

In regular contact by telephone, in the human cost is visiting can not match. In addition, such connections can close the relationship between businesses and consumers, and enhance customer loyalty to the enterprise, enabling customers more products like enterprises.

relative
10 Phone Marketing Mistakes to Avoid
Unwanted Telephone Marketing Calls
Mitsubishi tapping out of the phone market?

Mobile phone market stays strong - CNET News.com
Best Buy wants more mobile phone market share - BloggingStocks

Fiscal

2008-03-27T19:40:00.000-07:00

For fiscal namely property (including tangible and intangible property = intellectual property rights) business. For more than personal property for personal or family property business is that the individual or individuals or agencies in accordance with the organization's current actual state of the economy, set to reach economic targets, a limited period of time within one or more classes of financial investment tools , or through a variety of ways to achieve its economic objectives of the plans, programmes or solutions. In the concrete implementation of the programme planning process, also called fiscal.
[Fiscal] meaning

First, the "financial management", first appeared in the early 1990s the newspaper. With China's stock bond market expansion, commercial banks, the retail business is becoming increasingly rich and the overall revenue increase year by year, "financial management" concept of the best-selling gradually. Personal Finance variety of personal assets can be roughly divided into species and varieties of personal debt, mutual funds, equities, bonds, deposits and life insurance and other assets belonging to individual species and the personal housing mortgage loans, consumer credit, is a personal liability varieties.

Second, what are people talking about the general financial management, think of not investment, is to make money. In fact the very broad scope of financial management, financial management is justified lifetime earnings, which is the cash flow of individual life and risk management. Include the following meanings:

① fiscal rationale life is money, money does not solve immediate problems.

② financial management is cash flow management, everyone born on a need money (cash outflows), also needs money to generate cash inflow. So regardless of whether the money, the individual financial needs.

③ also cover financial risk management. More traffic because the future with uncertainty, including physical risk, property risk and market risk will affect cash flow (income interruption risk) or cash outflow (incremental costs of risk).
[] The scope of personal finance

■ (1) to make money - Income

Life includes income generated by the use of personal resources of income, and use the money generated by the resources of the fiscal revenue income from work are people making money, fiscal revenue is money to make money, and thus the scope of fiscal and investment than money are also widely. Include:

① income include: salaries, commissions, bonuses work, such as self-employment income.
② fiscal income: interest income, rent income, dividends, capital gains, etc..

■ (b) money - Expenditure

Life, which includes individuals and families to become immates for life from birth to the cost of living, and because of investment and credit generated by the use of fiscal expenditures. Some people are spending, home alone burden, the main purpose is to make money to cover personal and family expenses. Include: living expenses include: clothing, food, recreation, and other family medical expenses. Fiscal expenditure: including loan interest payments, protection of insurance premiums expenditures, investment procedures and other expenses.

■ (c) to save - assets

Current excess of income over expenditure, savings will be generated, and each is accumulated savings assets, that is, money can help you roll the money, generated investment income of the principal amount. When elderly people, the resources can not continue to work generating revenue, they have the resources to rely on money income or financial realisable assets to cover old age requirements. Include:

① emergency reserve funds: keep cash to prepare unemployed or rainy day.
② investment: fiscal revenue can be used to the breeding of the investment portfolio.
③ purchase: purchase their own housing, car and other assets to provide value.

■ (d) loans - debt

When cash income could not cover cash expenditures to borrow money. Loans can be attributed to a temporary deficit, long-term use can purchase real estate or motor home appliances, as well as the investment used to expand credit. No loans will be repaid immediately accumulated a debt liabilities according to the balance of payment of interest, in loans repaid, in addition to living expenses each consumer, but also financial interest on the principal amortization expenses. Include:

① consumption liabilities: revolving credit such as credit cards, cash card balances, such as instalments.
② investment liabilities: such as financing Securities Lending margin, a financial leverage of the investment loans.
③ own assets and liabilities: purchase their own assets such as housing loans and car loans.

■ (5) to save money - tax saving

In modern society, not all of the income can be used to cover expenses, taxpayers from income tax, property taxes, the sale of property taxpayers, the transfer of property taxpayers as a gift or estate tax, cash flow planning how legitimate income tax savings in the planning of the transfer of property to legitimate gift tax savings or inheritance tax, financial management has become an important part of the high-income individuals become more fiscal primary consideration. Include:

① Income Tax Tax Saver property tax saving plan ② planning ③ property transfer tax saving plan (which currently use more outside)

■ (6) for the money - insurance and trust

Guarding the focus of the money in the risk management, in advance so that insurance or trust arrangements, human resources or have property protection, or when the loss occurred when available to make up for financial losses. Insurance functions when accidents occur so that the family can not cover cash income at or after the expenditure, a sum of money or are able to make up for revenue shortfall, reducing the expected life journey imbalances arising from the impact. Makes up for the loss of people or things for the protection of life and property and casualty insurance, and must pay a certain percentage of premium, once insurance when the accident occurred, claims the revenue generated by the financial disruption that could replace the income to meet family or the lives of the bereaved families expenditures, or the reimbursement claims to reduce the fiscal debt interest payments. In addition, the trust arrangements can be independent of the trust property from other private property without the recourse of creditors, has been protected from the loss of function of the property. Include:

① life insurance: life insurance, medical insurance, accident insurance, disability insurance.
② insurance product: fire insurance, liability insurance.
③ Trust.
[Financial planning steps and core --

The first step of their assets status. Including stock assets and the anticipated future income, earnings can know how many arguments, this is the most basic prerequisite.

The second step, set financial goals. From the specific needs of the time, amount and description of the objectives of the qualitative and quantitative geography to clear financial goals.

The third step, identifying what type of risk preferences. Do not do not consider any objective situation of risk preference assumptions, for instance, many customers all the money on the stock market, did not take into account parents and children, did not take into account family responsibilities, and this time he deviated from the risk of his preference to bear the scope.

The fourth step is to carry out strategic asset allocation. In all, the assets do asset allocation, followed by investment products, the timing of investment.

Financial planning is the core of the assets and liabilities matching process. Before asset is the stock of assets and income-earning capacity, and that the future assets. Indebtedness is family responsibilities, it is necessary to the maintenance of parents, the care of dependent children, for his school. The second is the goal, our goal has become a liability and a high quality of life and enable you to the assets and liabilities of dynamic match, which is the core personal finance concepts.
[Fiscal] investment hotspot

Investment has many hot spots, can be summed up in nine main areas:

■ gold:

Since the Bank of China in Shanghai specifically for individual investors launched the "golden" business, speculation has been the personal finance market is hot, investors have been the concern and favor. Especially in the past two years, the international gold prices continued to rise. It can be predicted that as China's gold gradually opening up the field of investment, the future demand for gold in the growth potential is enormous. Especially in 2004, the domestic price of gold jewelry from the price will gradually approach for integration into ad valorem fees separation, gold jewelry 5 percent consumption tax is expected to abolish these will greatly promote investment in the upgrading of gold, the speculation business personal finance will also become a bright point in the field, the real investment into the golden era.

■ Fund:

Since 1997, the first closed-end fund has successfully issued, the Fund has always been respected domestic individual investors, the Fund has been more obvious than last year deposits, a large financial investment in the priority of Aspect. According to relevant data, domestic funds this year, the net value of nearly 200 billion yuan, accounting for A shares in circulation level of more than 10%. Many investors are still very optimistic about the Fund's earnings stability, and less risky, and other advantages and characteristics and I hope that through the investments of the Fund to receive satisfactory profits.

■ shares:

Buying the shares of listed companies that buy, buy China's economic growth. At present the domestic stock market supply and demand situation is relatively optimistic, as this type of funding to promote China's stock market is undoubtedly played a powerful shot in the arm. With the China Securities Regulatory Commission on the performance of listed companies, and offered financing for the more stringent requirements, enhance the regulation of the stock market, which will bring profit to investors. But any case, the stock market is the most prominent characteristic of uncertainty, opportunities and risks associated with the co-exist. Therefore, investors should continue to maintain a cautious approach, saw the opportunity to invest.

■ bonds:

2005 is a creative bond market, which not only increased the variety of treasury bonds so that the majority of investors can have more choices. Also on the issuance of treasury bonds, and a new way of trying to reform and further enhance the issuance of treasury bonds, the market level, in order to minimize non-market factors interference. In addition, the bond market will also become a two emphasis on the development of next year. Thus, the series of innovation bonds, investors will certainly bring more investment options and greater profit space.

■ savings:

Over the years, the savings as a traditional way of managing our finances, has been deeply rooted in people's thinking of. Most residents still will be financial savings as the first choice. On the one hand, because the inflow of foreign capital China was still strong momentum in basic money supply increased on the other hand in order to appropriately control CPI and the rise in the rate of inflation, means to raise interest rates, coupled with interest rates further expand the floating range. Rising interest rates, will stimulate savings increase.

■ Notes:
In recent years, the bond market is popular unexpected. Various signs indicate that the corporate bonds issued in 2005 still possible speed, enterprise convertible bonds, floating rate bonds, and bank subordinated bonds, and so people will be likely to become good investment varieties. CBRC will be coupled with the regular sub-subsidiary debt included capital, in addition to a commercial bank's capital, seems ready to bank bonds, the bond market will be popular again played the role of adding fuel to the flames.

■ Exchange:

In recent years the dollar continued to drop, more and more people through individual foreign exchange transactions, the money was the proceeds from the foreign exchange market was also very popular. Various foreign exchange financing varieties have also introduced, such as commercial banks-the currency markets, the Bank of China and Agricultural Bank foreign exchange Sharp, the bank's Suhuitong, for investors to select. Next year, the Chinese government will continue to adhere to the principle of the stability of the Renminbi, to link the renminbi and foreign exchange businesses of foreign exchange and increasing autonomy, and other measures to promote the healthy development of foreign exchange market. Therefore, the analysis of experts, to invest next year in the foreign exchange earnings of space will be more opportunities will be more.

■ insurance:

And other non-fire insurance market compared with a yield of insurance been introduced, people will be much sought after. Insurance proceeds of more common varieties, it has not only the most basic insurance protection function, and can give investors a high income, and investment protection is a win-win situation. Therefore, the purchase of insurance proceeds is expected to become a new personal finance and investment hot spots.

■ bank financial products banks is a key financial products, fiscal agent by the bank management, banking financial products to people is a major investment in day-to-day orientation. Compared with stocks and funds, the threshold for bank financing products with high liquidity and weaker characteristics. When selecting financial products, it is necessary to take account of their own investment preferences and financial needs, but also with due consideration to external factors on the market this financial product "trend" by the impact.

direct marketing

2008-03-27T19:34:00.000-07:00

What is direct marketing?
Direct, the direct marketing business is the recruitment of Zhixiaoyuan from Zhixiaoyuan in a fixed place of business from direct to the final consumer (hereinafter referred to consumer) marketing product distribution methods.

What is the direct marketing business?
Direct marketing company, is that in accordance with the provisions of the approved way to direct marketing of products enterprises.

What is Zhixiaoyuan?
Zhixiaoyuan, refers to a fixed place of business of selling products directly to consumers personnel.

Direct direct origin of the origin of the United States, the seeds of the first direct sales began in the 1940s, founded by the Jewish Kasabei. Although the information society and the rapid development of the people Fig convenient shopping and the rise of psychology. Now almost all over the world all the direct market economy matured and developed countries. Although direct sales can be said to be the earliest human commercial distribution, but did not direct was a good understanding, since the definition of direct marketing has not been conclusion, the reasons for this is the direct sales model is divided into two major categories:

The first category: narrow Direct (Direct Selling) products, manufacturers, importers through distributors (and consumers) will be face-to-face approach to the consumer product sales, including single-layer and multi-layer direct direct. Monolayer direct 20% of the direct selling companies use, multi-layer direct sales are 80 direct marketing companies in use. Single-level direct selling (Uni-Level Marketing) is a distributor (and consumers) will be company's products or services sold to consumers, according to their sales performance bonuses to the company's sales model for multi-level direct sales (Muti-Level Marketing) called "pyramid scheme" is based on the incentive system, distributors (and consumers) in addition to the company's products or services sold to consumers, it also can be absorbed, counselling, training consumers to become his downline distributors, he is referred to as on-line distributors, on-line distributors can lower level distributors in the number of algebra, merit class, and the proportion of different bonuses.

The second category: Direct and Interactive Marketing (Direct Marketing) This model is called direct marketing, production, manufacturers, importers through the media (DM mail, television shopping channel, the Internet) will be transmitted to the product or the consumer advisory . Direct marketing in the "direct" means not through direct sales distributors to consumers, "Fu" with the word refers to the interaction between customers, customers of enterprise marketing efforts have a clear response (and not to buy buy), business-to be clear statistics to back data, which in the past to evaluate the effect of marketing.

The first category is called narrow Direct Direct, the first and second categories together is called generalized direct selling. December 1, 2005, China's "direct management of the promulgation of the" alleged that the direct marketing is: the alleged direct marketing, direct marketing enterprises refers to the recruitment Zhixiaoyuan from Zhixiaoyuan in a fixed place of business from direct to end consumer (hereinafter referred to consumer) marketing product distribution methods. Direct refers to the above-mentioned section is a definition. The first category of the most important direct sales model of a multi-level marketing model of marketing that we normally alleged pyramid scheme has been prohibited in China. Therefore, the above-mentioned two types of common mode of marketing greatly increasing their common characteristic is non-store sales, products or services without going through distributors and directly to the user.

Here to set a broad concept of direct selling:

Generalized Direct (Direct sales) manufacturer, the manufacturer or importer of products or services directly to the final consumer sales approach.

Direct marketing, direct sales by definition is the meaning of the products or services provided directly to the consumer marketing is the real significance of direct marketing. We truly common sense direct the sales practices of some of the following:

1, and shop services, such as barber shops, barber directly to the customer service.

2, Lobby Houchu, such as hotels, restaurants from the kitchen to a restaurant to provide meals and services directly to consumers.

3, a shop in the front and a factory, for example, shops, sewing tailoring master of the counter directly to the clothing available to consumers.

4, commissioned by the processing, such as the Three Gorges Dam generators, factories, as required, and provided directly to the production station.

5, and special industries, such as military plant directly to product sales to the military and so on.

China prohibited from illegal pyramid scheme, people gradually began to replace the use of the word direct word pyramid schemes.
"Direct Mode" is, in fact, through the simplification, elimination of middlemen to reduce costs and the flow of products to meet customer demand for maximum benefits. In the non-direct sales model, two sales force, manufacturers to distributors and dealers to customers by.

At the domestic level, this is the definition of direct sales: manufacturers in a certain appeal to the public on the basis of direct communication with target customers to meet consumer marketing practice.

There are three aspects of direct marketing elements: First, consumer awareness of the public support the one-to-one relationship between the establishment and formation of the third is displayed at the site and focus promotions.

As direct marketing directly to customers, a decrease of warehouse space and eliminate the bad debts, no distributors and the corresponding stock of the additional costs, which can protect the interests of the company and customers, accelerate the pace of growth.

Direct sales company, we must first thorough research customer needs, and are not competitors, and market segments through the heterogeneity of the products to cut into the market. Second, we must increase the direct tentacles, interaction with customers, such as online direct marketing, e-commerce, DIY orders accepted, such as direct telephone. Once again a direct scientific management team, sales team to ensure a highly efficient operation. For example, Amway Corporation (Amway) shops + marketing and sales representative, "according to production alone," Dell (Dell) marketing, which is the most successful of the two direct marketing methods. Amway marketing core element is to improve customer and staff satisfaction, Dell-must constantly develop new products to meet customer demand heterogeneity.

Amway model or whether Dell model, a reasonable increase in the use of advertising channels of communication with customers is necessary, and so-called direct omitted publicity costs而使customers demand lower costs of a short-sighted and wrong. No effective communication with customers it is very difficult to develop a potential demand for the products, let alone improve customer satisfaction and performance of the company.

Reduce the flow of direct links will be provided along with the thrust of products to better reflect the trend of development of customer value through DIY accept orders by OEM virtual operations, and implement 6 Õ principles, use of C to P (of the individual companies) or P to P (person-to-person) service model continuously enrich the connotation of direct marketing. In the full understanding of national laws and regulations, market characteristics, under the circumstances, a reasonable method of direct marketing, not just models, direct marketing business continuity will be escorting.

What is direct marketing?
What is direct marketing? What is direct marketing? Definition of the evolution of direct marketing

First, what is direct selling? What is direct marketing?

According to the State Council Order No. 443, "published by the Direct Marketing Management Ordinance" for the first time of "What is direct marketing? What is direct marketing?" Clear definition:

Direct refers to the recruitment of direct marketing enterprises Zhixiaoyuan from Zhixiaoyuan in a fixed place of business of selling directly to the final consumer product distribution methods.

Second, the definition of the evolution of direct marketing

Direct the Chinese word, as the term suggests is the meaning of direct sales, and the products or services directly to the consumer marketing is the ordinary sense of the direct marketing. We ordinary common sense direct sales of some of the following ways:

Store services, such as barber shops, barber directly to the customer service.
Lobby Houchu, such as hotels, restaurants from the kitchen to a restaurant to provide meals and services directly to consumers.
Shop in the front and a factory, for example, shops, sewing tailoring master of the counter directly to the clothing available to consumers.
Commission processing, such as the Three Gorges Dam generators, factories, as required, and provided directly to the production station.
Special industries, such as military plant directly to product sales to the military and so on.
98 policy of restructuring the pyramid scheme, people gradually began to replace the use of the word direct word pyramid schemes. Since then "direct" been given a specific meaning.

Pyramid schemes from the English word "Multi-Level Marketing" from the translation. Mean is: multi-level associated mode of operation.

Multi-Level Marketing acronym for the MLM. MLM sales from the principle of speaking, on the lower level of N (multi-level) before the products or services provided to consumers, and how this can be called direct marketing? Obviously it is a multi-level marketing is it necessary to direct this is not called "direct" a Chinese word "rape"?

This philosophy is a word, there is inevitably called. There appeared to be a direct word used to replace the term-certainly should be some justification, then what reasons?

Since the principle from the pyramid schemes that, after the release of N on the lower level of products or services provided to consumers and direct incompatible with, we might as well from the pyramid schemes in the form of analysis. Traditionally, people from the shop to share when shopping, and the pyramid scheme is passed directly between people completed, no shop operators of the pyramid schemes is the main form of sales.

Unconsciously you found? The above passage "and pyramid schemes are completed directly between people through the" already contains the word "direct".

Oh, the original translation into direct marketing MLM is not a shop and choose directly to the product or service provided to the consumer meaning.

At that time, in accordance with national policies, the people of the "Shop and Zhixiaoyuan" multi-level mode of operation known as "direct marketing." No store and the multi-level mode of operation called "illegal pyramid scheme." "Pyramid schemes"-was weak and there is no clear definition.

With direct legislative process, September 1, 2005 published on December 1, 2005 the imminent implementation of the "direct management of the" again "What is direct marketing? What is direct marketing?" Is the latest clear definition.

Despite the "direct" After many twists and turns the meaning of the word evolution, but as a new way of a sale, it has immeasurable vitality. It will bring unlimited business opportunities.

Direct Events

● the late 1980s, Japan sold a magnetic mattress health of Japan Life in MLM companies operating in China. The company operating without any official permission.

● November 14, 1990, China's first direct-to formally apply for registration of companies - Sino-US joint venture set up in Guangzhou Avon Ltd, was officially incorporated into the direct management of the official business areas.

● August 11, 1994, the State Administration of the industrial and commercial administration issued the "stop illegal multi-level marketing activities of the circular" (233 of text). September 2 once again issued the "multi-level marketing activities investigated violations in the notice" (240 of text). Illegal pyramid scheme pace of development was restrained.

● March 28, 1995, the Internal Trade issued a document, formally announced to set up a "multi-level marketing management of the" legislative body, started to draft the multi-level marketing management.

● In September 22 Office of the State Council issued the "stop the development of a multi-level marketing enterprises notice," which once again overheating in the domestic pyramid schemes norms restrictions Shortly afterward, the State Administration for Industry and Commerce formulated the "on the review of more than liquidation The implementation of enterprise-level marketing approach. "

● April 1996 After a review of our government, ratified for the first time 41 pyramid schemes enterprises can carry out multi-level marketing business, April 28, the SAIC to more than 41-level marketing enterprises promulgated the "prospective many levels Pyramid Scheme submissions. "

● January 10, 1997, the State Administration of Industry and Commerce promulgated the "pyramid marketing management approach." To single-level marketing and multi-level marketing definition.

● Because of multi-level marketing and single-level marketing distinction no strict standards, the illegal pyramid scheme companies of all sizes spring up like mushrooms. By the end of 1997 so that the beginning of 1998, wantonly rampant illegal pyramid scheme, the state enterprise direct sales almost out of control. April 21, 1998, the State Council promulgated the "Convention on the Prohibition of the notice MLM activities," the whole industry a total ban on direct sales to rectify.

● June 18 the same year, the state three ministries (the Ministry of Foreign Trade and Economic Cooperation, the State Administration for Industry and Commerce, the State Domestic Trade) issued the "foreign-invested enterprises to change sales practices of pyramid schemes related issues notice." Expressly provides that: provides that "foreign-invested enterprises must pyramid schemes to '+ level shops sell' mode of operation." And ratified the Amway, Avon, Mary Kay and other 10 foreign direct investment enterprises operating in transition.

● 2001, China's accession to the WTO. The Chinese government promises: a commercial basis of the non-existence of fixed locations wholesale or retail services (including pyramid schemes) in the three years after accession to the WTO gradual lifting of restrictions.

● July 24, 2006, Avon countries formally approved by the Ministry of Commerce and Industry Office, which was allowed to become the first pilot to direct marketing enterprises.

● September 1, 2005, involving the "direct method" of the two core "of the direct management" and "the prohibition of pyramid scheme" was promulgated. "The prohibition of pyramid schemes" will come into effect on November 1, "Direct Marketing Management Ordinance" in the entry into force on December 1.

At present, China's legitimate direct selling companies is as follows: (in alphabetical order)

1, South Jin Kee Co. Ltd.
2, Avon (China) Co., Ltd.
3, such as the new (China) Co., Ltd. daily health
4. Perfect (China) Co., Ltd. daily necessities
5, Ningbo Sansheng Commodity Co.
6, Bao Jian (China) Co., Ltd. daily necessities
7, a new era Health Industry (Group) Co., Ltd.
8, Fudi health Technology Co., Ltd.
9, JIN Shi-kai of Friends (Tianjin) Co., Ltd.
10, in the vein of Nanjing Science and Technology Development Co., Ltd.
11, Amway (China) Co., Ltd. daily necessities
12, Oren Lotus Cosmetics (China) Co., Ltd.
13, Guangdong Kangli Ltd.
14, Herbalife, (China) Co., Ltd. health
15,-ball (China) Co., Ltd. department store

Electronic Transactions

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Electronic transactions outlined
That electronic transactions through electronic trading system, unlike in the exchange trading floor of the face-to-face transactions.
In the part of e-commerce no more noticeable than the electronic transactions. Refers to the so-called electronic transactions in the online transaction. Electronic transactions will no longer be simply opened up a new online sales channels. It means using technology to improve your business model, increase their income and efficiency will reduce operating costs and help businesses and customers, suppliers and partners to establish a close cooperative relationship. In this way, you can be online distributors and manufacturers linked to optimize transaction process, reduce paperwork. You can also set up direct links with suppliers and network profits, thus reducing inventory and transportation consumption, rapid response to user requirements. You can also online billing and payment system and improve customer and supplier relationships.
In this way, enterprises not only won the trust of customers, and orders can enhance efficiency, reduce inventory losses, and maintain all working capital and reduce actual sales expenses, thereby reducing costs and increase profits.
Electronic transactions is not only open a new online sales channels only. It passed technology to your business model of the flow lines, increase revenue and improve efficiency. It will by reducing costs and with customers, suppliers and partners more closely, respond more rapidly to promote the relationship between income and profits.
Electronic transactions which enables you to increase revenue at the same time build customer loyalty by improving the efficiency of orders to reduce costs. Reduce inventory and warehouse expenses while maintaining full cargo rate and reduce the actual cost of sales transactions.
Key elements of success in electronic transactions
IBM helped thousands of companies achieve successful programme of electronic transactions. Electronic Transactions some of the key success factors does not appear obvious, once neglected, it will have serious ● business challenges. These factors include:
● management should have a reasonable implementation of the business strategy and objectives;
● programmes focus on customer service, long-term relationships and value;
● attention to the various aspects of the sales cycle, including awareness, interest, desire, behavior, service and support;
● Mining and understanding of the unique aspects of the Internet and standards-based technology;
● with business processes and information systems tightly integrated strong, scalable infrastructure.
Establish the concept of the overall situation of electronic transactions
Reasonable business electronic transactions should have a strategic concept of the overall situation, not only from within but also from outside observation - that is, from a customer perspective. Electronic transactions across all sectors of the company, as an enforcement mechanism to eliminate internal barriers. Effective strategy calls for the implementation of electronic transactions, as well as leading companies in various fields of cooperation between and obligations, including marketing, sales, development, manufacturing, information technology, law and public relations. As the world's largest outdoor apparel retailer, the United States REI electronic transactions revenue almost a year growth rate of 400 percent, while sales of REI online companies have become the largest outdoor retailers stores. ToolCrib the northern part of a power tool is the cataloguing and retailers, in the two months that were 100% return on investment Web, each order catalogue orders than saving five US dollars. E-Chemical company through its first online Web stores of chemical products for the chemical industry brought to the corporate enterprise electronic transactions more efficient than traditional wholesale channels its customers can save 20 per cent of the expenditure. Lagostina - Italy a leading position in the home cooking and kitchen equipment manufacturers - expect to end the income of 1 million US dollars, and in fact, within two days of its online store to complete this objective. Once started, and soon professional and technical needs - not just WEB site administrator, which may be beyond the ability of your company. This means that with the cooperation of experts from the outside, it has the concept of openness and willingness to cooperate. IBM knows its customer experience, a start with the necessary expertise for the future development of the ability to save time and money.
Effective electronic trading strategies
The first step in achieving electronic transactions - is the most challenging one of the steps - is based on the time value of customers the opportunity to define a dynamic business strategies. The preparation of the strategic need to understand the unique characteristics of a strong brand and industrial power, the function of the Internet technology and unique attributes, as well as the future high-bandwidth generally calculated predictable. Although looks simple, it is necessary to develop a long-lasting, can Jindeiqi test of electronic trading strategies, their difficulties are often extraordinary. Many cases, the company is a means of survival or competitive responses to carry out the programme of electronic transactions, and not viewed as a competitive advantage. Industry leaders will be those who can be creative thinking and fully understand the impact of their e-business transactions, and then take full advantage of Web's unique power and the people.
To gain competitive advantage, the need for a comprehensive electronic trading strategies, including the following objectives:
● ● improve customer service to increase awareness share, market share and share of wallet ● expanded geographical extension of the scope of reduced customer turnover ● ● ● improve supply chain processes to increase revenue and profit company or product brand ● ● flow lines of business processes, reduce errors, improve efficiency and productivity effective electronic trading strategies should be able to withstand the tests, and more and more difficult for others to enter. With the passage of time, the strategy should allow customers to increasingly high cost of the transfer, in particular the need to exclude competitors time. Develop and maintain an effective strategy requires constant competition analysis. It should be based on core competencies, as well as targeted see the value. In fact, your primary customers may actively participate in strategic stereotypes. Enactment of the Electronic trading strategies should take into account the following issues:
Now what is the business? Intend to open up new markets?
What is the core strategic asset?
In the network in the world these assets can maintain its strategic?
Competitive rivalry? New competitors from where?
What process needs to be a fundamental rethink?
Why clients to do business with you - Jindeiqi test of the value of what is proposed?
In an increasingly fierce competition, the buyer more sophisticated than before and have higher expectations of the world on how to obtain profit margins? Where products can quickly become a commodity?
The success of the standard electronic transactions

Construction of the wave of Web sites, usually forgot to define success criteria and measurements. As a large number of recommendations of the same value, but also a wide variety of standards and measuring success. It is true that some measure difficult to achieve, but there are also some easy to determine the value and extraordinary, but often overlooked measure.
These measurements include:
All and each customer's income and profit-scale orders, as well as each unit cost of goods sold, each transaction costs, the cost of each visitor, each repeat customers the cost-benefit ratio of each stock into reverse orders pages Views Cart abandoned percentage of the cost to recruit, the number of repeat visits, the total number of visitors, the number of site visits stay customer satisfaction has improved customer service, lower the price of E-mail response time to stock prices and availability of external measuring how users found Advertising your site hits Finally, please remember that from the customer's perspective, rather than your view, for the development of all aspects of the Web site. Too many Web site design of the internal structure of the enterprise, focused on products and services - rather than programmes and customers. If the customer can not find what they seek, and you will soon be left abandoned - to their standards, but not you, and this is to formulate the success of electronic transactions at the core of the strategy.

Marketing

2008-03-27T19:24:00.000-07:00

The concept of marketing
Marketing is about how enterprises to discover, create and deliver value to meet the needs of certain target markets, while profits of subjects. Marketing used to identify unmet needs, definitions, measuring the size of the target market and profit potential, to find the most suitable for enterprises to enter the market segmentation and the breakdown of the market for the supply of goods.

Marketing often by enterprises instead of a dedicated department, which would in fact has both advantages and disadvantages. Benefit: easy on the training received marketing groups specializing in marketing; disadvantages in: Marketing should not be limited to one sector to enterprises, and enterprises should be reflected in all activities.

• Marketing in the main concept of what?
Including market segmentation (segmentation), the choice of target market (targeting), positioning (positioning), need (needs), desire (wants), the demand (demand), market supplies (offerings), brands (brands), the value and satisfaction (value and satisfaction), the exchange (exchange), transactions (transaction), and networking (relationships and networks), the marketing channels (marketing channel), supply chain (supply chain), the competition (competition), the marketing environment (marketing environment) and marketing planning / programme (marketing programs). These terms constitute a marketing professional of the terminology database.
Marketing Process
• How summarized the main marketing process?
Marketing of the main processes: (1) Identification of opportunities (opportunity identification), (2) the development of new products (new product development), and (3) to attract customers (customer attraction), and (4) retain customers and cultivate loyalty ( customer retention and loyalty building), (5) Executive Order (order fulfillment). These processes can, if handled well, then marketing are usually successful. If any part of the problem, then enterprises will be faced with crisis of survival.

• Marketing should be treated as a department or company's overall philosophy and practice?
Many years ago, one of the founders of Hewlett-Packard sent • David Card (David Packard), said: "the importance of marketing will be much more than simply leave their separate marketing departments do." Is the best in the world marketing sector companies as the possible failure of marketing. The reason is that: the production sector might provide faulty, the delivery service sector may be a little late, the accounting department may not be allowed off at the amount of the invoice, which will result in the loss of customers. Only the employees are committed to providing customers with the value of commitments to meet and please the customer, marketing will be effective.

• Marketing should adapt to different countries and regions specific circumstances, the presence of fixed principles?
Marketing geometric analysis is not as subjects. In a different political, economic, cultural, national, marketing should not be static. Even in the same country, in the consumer goods industry, industry B2B (business to business industries), and service marketing are different. In the same industry, different companies have different marketing approach.
Marketing principles
Marketing did include some fixed principles, including:

• in the development of marketing strategy to consumers, competitors and distributors status as a centre of respect.

• For each market segment the market, according to his company's strength and targeting the most promising market segment.

• For each target market choices market segmentation, research customer needs, knowledge, preferences and buying process.

• through serious definition, creation and delivery of better value, gain advantages in the target market.

Any person in any field theory will be obsolete, as we understand the process of the universe, Copernicus replaced Ptolemy, Copernicus, Einstein and replaced. So whenever a new marketing theory reveal clues, I will not hesitate to become the first person to eat crabs.

• Do you think that in today's business, with regard to what constitutes effective marketing major errors which, from where these misconceptions?

In the business community and public awareness, marketing was greatly misunderstood. Enterprises believe that the marketing is aimed at supporting the production, eliminate corporate stock. As a matter of fact it was the opposite - is the purpose of existence of production in order to sell. Enterprises can outsource their manufacturing, and create a marketing enterprise is the thinking and practice. Production, procurement, research and development, finance, as well as all other functions are to support enterprises in the marketing work.

Marketing and sales are often brought confusion. In fact, sales marketing is the tip of the iceberg. In the sales, marketing also includes a wide range of marketing research, the corresponding product development, product pricing, distribution channels, and to expand the opening of the market to understand this product. Compared with the sales, marketing is a wider and more comprehensive process.

Sometimes, marketing and sales have almost the opposite means. Difficult sales marketing is a self-contradictory statement. I said a long time ago: "Marketing is not to find a wise approach to swap your manufactured products, but to create true customer value of art." Marketing is to the benefit of your client arts. Marketing staff's motto is: quality, service and value.

Only when you have the hands of inventory, merchandise sales will start in product and marketing activities appear to have been started. Marketing is a business of the day-to-day activities to the needs of customers and found that the company should produce products. Decided how to start marketing, pricing, distribution and marketing of products and services and constantly monitor the market after the changes in the products and services to make corresponding improvements, and ultimately decide when to discontinue providing products and services.

In short, marketing is not a short-term sale, but rather a long-term investment behavior. Good marketing products in the enterprise before production has begun, and after the completion of the sale still exist for a long time.

• Marketing began when?

Early in the human occurs, the marketing has emerged. "• Old Testament Bible," the first chapter (of course, this is not the beginning of mankind), we can see that having tasted the forbidden fruit of Adam Eve persuade, but Eve is not the first marketing personnel, the title should belong to那条persuaded Eve the forbidden fruit to Adam selling snake.

As a discipline, marketing began in the first half of the 20th century, and then mainly in the distribution (especially wholesale and retail) related courses. But then economics is in a purely theoretical pursuit of the academic impulse, people overlooked this gate and close to the normal operation of the economy emerging disciplines. That the supply and demand curve is balanced at the level of prices, no one can explain from the manufacturers through wholesalers has been linked to the retail price. So early marketing research economists and scholars to fill the gaps. However, economics, marketing is still the mother.

• Marketing is an art or technology?

Marketing is a more technical and vocational. American Marketing Association (American Marketing Association) and the Chartered Marketing Association (British Chartered Institute of Marketing) has its own marketing staff to professional accreditation. They believe that through the establishment of rigorous testing system can distinguish between qualified personnel and marketing counterfeit.

However, many did not undergo a rigorous training of sales staff also have very good marketing idea. • British Hewa Kamprad (Ingvar Kamprad) is not a professional marketing staff, but he's IKEA (IKEA) is still the public through the provision of high-quality furniture great success. Creativity is an important part of marketing success, of course, this need not be limited to marketing personnel.

Science and Technology on Marketing is also very important. Marketing through the marketing research, market modeling, prediction will be a lot of useful data. Marketing through the marketing modeling decision-making and guiding investment, the establishment of marketing measurement method to display their activities for the impact of sales and profits.

Marketing is an art in the end, technology or science? The answer is all of these factors together constitute marketing.

• Marketing is an application of science?

As from engineering such as physics, chemistry, learn basic subjects like nutrition, marketing is rooted in several of the basic disciplines, including economics, psychology, sociology, science and policy-making organizations, such as science. Marketing With these subjects and the progress of development. I believe that marketing will eventually evolved into a demand management disciplines, including more comprehensive and on demand-driven demand optimization theory.

• Marketing will start extensive use of psychology, sociology and anthropology, and other disciplines conclusion?

Marketing staff gradually realized that marketing activities are at the centre of buyers rather than sellers. In order to understand the purchase, the sales staff must study organizational behavior. Marketing researchers must use the demography, psychology, cultural and social impact to understand customer needs, knowledge, preferences and behaviours, in order to find more effective marketing strategies.

• As a marketing is the use of the term is usually beyond the original field of goods and services, whether this is a good thing? Marketing for the expansion of the use of the concept, I will produce a lot of power. 1969, I wrote an article entitled "expanded marketing concept" (Broadening the Concept of Marketing) papers. Marketing article, I think not only can be used by profit-making organizations, such as museums can be, churches, charitable organizations and other non-profit organizations to use in order to attract clients, volunteers and donor funds. I further discussed marketing can be applied to the initiation of social activities, such as "Do not smoke", "Do not take drugs", "eating health foods", "daily exercise", "Do not throw."

Today, I think we can go further and marketing of goods, services, experiences, information, property, location, characters, organizations and public utilities. Like with any concept, marketing can be applied to both good or bad. I still think that way of thinking Marketing is the broad application of the advantages outweigh the disadvantages.

• Now it has a wide range of goods to meet all our needs, for the enterprises to conduct marketing activities need to consumers whether too little?
Talking about marketing, we always said that to meet unmet needs. Now, there are indeed a lot of products to satisfy the needs of the majority of us. My friend, the Italian Piaiteluo • Guido (Pietro Guido) wrote, "there is no need for society" (The No Need Society) to make the following points: marketing staff should be required to learn how to create similar to Sony (sony) Company Marketing Innovation electrical way. Enterprises should learn from market-driven (consumers want to drive) to drive the market (to create new markets). Many years ago, who would need players, big-screen color TV, micro-camera, etc. products? For businesses, the new competition is the continuous need to find new needs and new markets.

• Why Marketing is the best meet individual needs?

People can use many methods to meet their own needs, such as stealing or begging. Marketing is provided through some sort of value in exchange for the individual to obtain from the other side of things. Marketing is the basic concept of the exchange, this is a civilized society in the most reasonable and generally accepted manner.

• Marketing used in consumer goods, services, B2B, whether they were different?
Many of the marketing concepts and tools from the first fast-moving consumer goods industry is facing a number of practical problems, other tools from durable products industry (both consumer-oriented or business-oriented), daily necessities and services sectors . By STP (market segmentation segmentation, targeting select target market, and positioning positioning) Theory and the 4 P (Product Product, price Price, location Place, promotions Promotion) theories of marketing theoretical framework can help us analyze any market, products and services . Of course, each market has its own characteristics, the specific needs of the marketing concepts and tools, say, the marketing services sector in the development of their own staff marketing programme, will be more concerned about another 3 P (Personnel staff, the process of service delivery process and services tangible Physical evidence). However, these types of markets (consumer goods, industrial and services) does not require completely different theoretical framework. Otherwise, we will face a market I, II market, the market III this chaotic situation, but also between industries can not be carried out from the exchange of relevant experience.
Marketing task
• What is the mandate of marketing?

On this issue, there are at least three answers. The first answer is that the task of marketing is responsible for the entire enterprise product sales to anyone. Next answer some in-depth thinking on that marketing should be to meet the target market of unmet need for mandates. Finally, with a philosophical significance that the marketing task is to improve the material in the world of the living standards and quality.

Marketing is the role of people perceived unmet needs, creating new and attractive solution. Modern kitchen appliances, and its subsidiary is a good example to demonstrate how the marketing housewives from the heavy domestic work in the liberation, at a higher level to develop their own.

• You have said in the development of business strategy, marketing must play a primary role. Do you think that today's business managers have been fully aware of the marketing success of the enterprise?

CEO are often seen as a marketing department is responsible for the products produced after its sold. Our view is that marketing must be regarded as deciding the strategic direction of the activities. • Peter Drucker (Peter Druker) morning, more than 30 years ago, has made it quite clear: "an enterprise only two basic functions: marketing and innovation."

• You have said that if a company's marketing department can not discover new market opportunities, its staff should be dismissed. However, the market is there, as many good opportunities?

An economy, the absolute number of opportunities will be in the business cycle and technology cycle changes. In the economic recession and the new technology has not yet appeared when the number of opportunities will be fewer.

However, the opportunity is always there. Look at the emerging "innovation" and "surprised" directory products bar, provide any goods or services from an enterprise should be able to come up with new ways to make changes to the original products, and products related to the merger of different characteristics the creation of new products, to provide different types of products, or on the basis of the original product and add new features or services.

Available to market products and services not only for different remodeling market, the market itself can also supply goods with a new perspective on.

I and Fernando • Delieshidibeishi (Fernando Trias DeBes) co-authored the "horizontal marketing" (Lateral Marketing), I propose a marketing and longitudinal (vertical marketing, market segmentation) different and creative ways to find new marketing ideas. Vertical marketing is aimed at a specific market, and horizontal marketing from the perspective of a new product to treat. Can cite many examples. Today, we can buy food in the gas station, in the supermarket banking services, the use of computers in the Internet, using a mobile phone camera by chewing gum to medication, can also intake of cereal to eat snacks. Opportunities exist forever, only to discover the lack of. A period of recession does not mean that the failure of the marketing, marketing, only a lack of imagination in the time before failure.

• In today's economy, you can see the tremendous business opportunities?
Here is a list of what I believe in the tremendous business opportunities:

1, bio-technology [such as the rationalization of drug design (rational drug design), the application of biometric security system monitoring]

2, mobile phones (such as the telephone payment, wireless devices)

3, security technology (companies, the family safety equipment)

4, for a business niche markets (such as Latin America were created specifically for the banks)

5, outsourcing

6, storage systems

7, automation technology (such as automatic toll collection equipment Expressway)

8, health care equipment

9. Robot

Enterprises face a potential business opportunity, consider the following questions:

1, whether there is a larger market space?

2, whether there will be fierce competition and the prospects?

3, it would be able to establish profitable business models?

4, can quickly accumulate capital, expand business?

• marketing and sales planning (merchandising) What is the difference?

Sales planning as the main terms used in the retail industry, used to describe retailers to sell goods for the shelves and display mode of choice. Marketing is a much broader range of areas, sales planning is only one part of the activities.

• In addition to declining sales, which also is a business of their marketing measures taken symptoms?

These signs include:

1, company expansion strategy, and sales are too smooth

2, sales have ups and downs, not smooth

3, sales were good, but the margin is too low

4, low profitability of products, customer segmentation unknown, or impeded distribution channels

• those marketing is not very understanding of the CEO or business operators have the where, in addition to reading your book?

In fact, I would suggest that I read a book, not the 700 that the "Marketing Management" (page 11), but 270 "• Philip Kotler Marketing" (Kotler on Marketing). This book display the basic concepts, principles and strategies. For readers seeking marketing techniques, especially for those small companies from readers, Conrad • Levin Vincent (Conrad Levinson), "guerrilla marketing" (guerrilla marketing) book will help. Finally, there are many books on specific topics for reading, as build brand, communication management, pricing, and middle management staff work and the development of effective sales and marketing team.

• Since its birth, marketing, what changes have taken place?

Marketing is a branch of economics as a discipline arise. Early marketing staff dedicated to the research distribution channels, which differs from the majority of the economists of the supply-demand curve is the market price as the determining factor in the neglect of a multi-level distribution of the impact on prices. Early marketing emphasis on the description of the system of research. In addition to distribution channels, early marketing also put the focus on advertising and individual sales activities. Since then, many people began to think that marketing is just a synonym for selling their products until many years later, from marketing to liberate this misunderstanding. Following is the development of marketing ideas main phases:

4P marketing development theory marks a significant step in the process, because it product, price, place and promotion as part of the market supply of goods to consider when making a decision is part of the introduction of a marketing. Marketing officers who later realized that in order to determine the content of 4 P, they need to better understand customers, then to the 4 C theory - Customer Value (customer values), customer costs (customer costs), customer facilitation (customer convenience), customer communication (customer communication).

, The marketing staff have also introduced a concept: 4 P Enterprises decided before, it should be preceded by STP strategic thinking, market segmentation, target market selection and positioning.

Marketing staff are also aware that the enterprise marketing in the four different target levels: the mass market, market segmentation, market niche and individual clients.

Later, marketing be summarized as a set of demand-driven by the level and composition of the time management skills.

Further expand, beyond the concept of marketing products and services, including the concept began, utilities, locations, characters, organizations and other entities.

3P Marketing

2008-03-27T19:19:00.000-07:00

3P Marketing Profile
In 1995, before the 3 A Coca-Cola has been the market principles, "buy, buy, and willing to buy", the strategy of Taiwan at the actual situation in China at that time, the establishment of the network across the country, set up factories cost-cutting, lower product prices, improve product reputation.
With the improvement of living standards in China and the development of Coca-Cola is Coca-Cola in marketing to create a new 3 P principles:
Pervasive (everywhere) - Coca-Cola products so readily available.
Price Relative To Value (value for money) - Coca-Cola products must be value for money.
Preferred (fond) - Coca-Cola products to become the first in the minds of consumers.
3P the meaning of strategy is to enable more and more consumers have the impulse to buy Coca-Cola products, Coca-Cola is an important distribution strategy. A 3 from the 3 P, we can see that the concept of the value of Coca-Cola distribution upgrade. For example, "buy" by the demands of Coca-Cola products to buy, and "ubiquitous" highlighted where Coca-Cola products can be "sold" to the extent "affordable" is the assurance that the quality of premise for cheaper products, and "value-for-money" more inclined prices unchanged in the case to provide better products. "happy to buy" refers to quality assurance under the premise of consumers willing to buy Coca-Cola products, but consumers still may choose other brands may drink, and "special favor" for more on the minds of consumers tended to become the preferred beverage brands. So, from 3 to 3 P A, to some extent, show a leading brand strategy concept - the pursuit of the consumer "brand loyalty."
Coca-Cola marketing based on three principles of the P planning to "P" as a guide, the Coca-Cola Company the full implementation of a marketing strategy in China. They have made a detailed market survey to understand the Chinese people's taste preferences, and use of local raw materials in China, by virtue of its scientific and technological strength, a three-year period developed the "heaven and earth" series fruit juices, mineral water and tea beverages; for the younger generation consumer , the production of "smart" series of fruity soft drinks. A product launch that success. It is worth noting that the company "P" within the framework of the eight kinds of different market planning:
A wide distribution. They will be divided into the market according to the importance of supermarkets and food stores, railway stations, wholesalers, schools, etc., were developed distribution goals, the products quickly to the retail channel, so that consumers can be in the most convenient place to buy their products.
2, a vivid and effective. They implement an effective shelf management, new products will be on the next major competitors, consumers money on the best available location - between shoulder and hip. At the same time, ensure that adequate inventory and display, each single-name goods has licensing and price. They found that it would timely and accurate understanding of consumer product information, purchase interest.
3, extensive use of point of sale advertising products. At the retail point-selection of posters, flags, the price card, such as store-display advertising, with a strong media advertising, a strong marketing offensive will be rapid and effective transfer of new products to consumers.
4, giant display. Choice of a representative of retail, the establishment of not less than 50 cartons of arrival display their products in the shop are the leading brand image and highlight prominently so that consumers read the mind.
5, impressive model shop. Choice of a representative of retail, the establishment of a certain number have outstanding advantages and leadership image of the shops, to enhance the visibility of products among consumers attention.
6, the trial for drinking activities. Chuoxiaoyuan recruitment of a number of select major channels on weekends, on holidays, try to drink a large-scale activities.
7, a positive and promotional activities. With drink in various forms in the test so that consumers can hardly refuse promotional activities such as price cuts, presented unique gifts to buy large amounts, in order to raise consumer of the new product love.
8, the correct price. Various channels to have a reasonable profit, operating the enthusiasm of their products so that consumers are willing to buy.
8:00 above, 1,2,3 are Pervasive  ness Section 4,5,6,7 of Preference, 8 belong to Price / Value.
It can be said that Coca-Cola is relying on "P" of the concept, from a strategic height can formulation and implementation of a set of marketing strategies, so as to blaze tight encirclement, 17 million, take a firm market. In 1998, the "smart" and "heaven and earth" in China's sales of 11 million TEUs; next year, the sales growing.
A statement: fat and sleek cows you rob, and eat different phase. "3P" philosophy is "eat in" A If the operators get inspiration from, be inspired by this, may Zuoyoufengyuan. Finally advice is: Marketing should not every day a new guise, is the quest of a business philosophy.

Promotions

2008-03-27T19:16:00.000-07:00

First, the concept and role of marketing

1. Marketing concept

Marketing to consumers is to convey the enterprises and products of this information, or to convince consumers to buy their products, so as to achieve the purpose of expanding sales.
Such enterprises are engaged in marketing activities called "marketing." Enterprise promotion and other marketing activities such as product decisions, the price of the selected strategy, distribution strategies vary. Some of the above marketing activities primarily in the internal or enterprise marketing, and marketing arrangements between. In the promotional activities, publicity or to introduce consumers to their products, convince and attract customers to buy their products, they participate in promotional activities of the two sides and the marketing potential purchaser or purchasers.
Communication is essentially a promotional activities, namely, marketing (information providers or sender) as a stimulus to all kinds of information, a message to one or more of the target audience (ie, recipients of information, such as the audience, audience, readers, customers or users, etc.), in order to influence their attitudes and behaviour. For example, a media issued such an advertisement: "The rabbit electoral wool sweaters - men's sweaters!" Clearly, when consumers read the advertisement, can immediately access the following information: The brand sweaters Rabbit is the licensing, Shanghai is a famous brand, and product quality reliable; sweaters electoral wool is the raw material used is a high-end products; product is suitable for the autumn and winter season clothing.
If a consumer really want to buy a sweater, the advertisement will be on his purchase behavior have an impact. Marketing, in order to effectively communicate with the consumer information available in different ways to enhance communication with the consumers of information, in order to promote product sales. For example, can convey the business through advertising and product information can be through a variety of ways to promote business customers better understand the products, so as to promote the purchase of its products can be improved through a variety of public relations firms or products in the public image; also sent salesmen face-to-face to convince customers to buy their products. A commonly used means of advertising sales, marketing staff, sales promotion and public relations. Enterprises can light of the actual situation and the market, products and other factors choose one or a combination of various means of promotion.

2. Why the role of marketing enterprises to conduct promotional activities?

In any society large-scale production of goods and economic conditions, on the one hand, producers who need not entirely clear what goods, where needed, when needed, and what price consumers are willing and able to accept; On the other hand, the majority of consumer also not entirely clear what the supply of goods who, where and supply, when supply, a low price, and so on. It is precisely because of the presence of such an objective producers and consumers of the "information separation," the "production" to "eliminate" contradictions, enterprises must pass communication activities, use of advertising, promotion reports, and other promotional marketing staff means of production, products, etc. messages to consumers and users in order to enhance their understanding, trust and the purchase of the product to increase sales purposes. With increased competition and enterprise products increased, the increase in consumer income and improvement of living standards, in the buyer's market of consumers even higher demand for goods and greater room for the selection, enterprises and consumers to communicate between the more important, more enterprises need to strengthen marketing and use all kinds of promotional manner so that the majority of consumers and users better understanding of their products so that consumers willing to spend more to buy their products.

Sales promotion (Sales Promotion, or SP) competition in the market is in the process of a sword. Market attack of promotion, the role is thrust on products so that their products can enter the market faster and expand the market. We see that in the market, not all companies are advertising, but each one, without exception, companies are conducting a promotion. Therefore, the market aggression in our mandate, we must not forget the use of this powerful weapon.

From a global comparison looks into advertising and marketing, promotions, the cost of advertising growth in the cost of at least three percentage points higher than the growth rate. In the United States, in 1980 for promotional costs 49 billion US dollars, to its 1986 reached 102 billion US dollars cost, the cost of promotions and advertising by a ratio of about 64:36. By 1991, the total costs of promotional marketing costs 3 / 4, or 75 percent.
Promotional activities reason is there such a big expenditure, because people are optimistic about this form of sales and benefited from the final results. Enterprise will be happy to pay immediate effect.
Marketing connotation

Well, promotions What kind of a connotation?

Marketing content:

First, the promotion of customer buying behavior of the short-range incentives;

Secondly, the promotion is a tactical marketing tool;

Thirdly, the promotional drive is to purchase interests;

Fourth, the promotion is the result of the pursuit of sales;

Fifth, the promotion of effective impulse buying;

Sixth, promotions, not for the purpose of construction brands;

7, promotions, "AIDA rules" reflect;

8, promotions in the price lever to the beat of ballet, although Variety, but inseparable from the interests of prices;

9, promotions and sales is to expand the use of the method;

10th, promotions, is a competition in the market means;

11, promotions, advertising is not disguised.

12, promotions can get rid of "buying habits", it is the first time contributed to the purchase of a good tool;

13, the promotion was not intended to enhance product visibility, but to allow customers to accept products;

14, promotions, it is the highest goal to be the first result of the purchase, the basic goal is to buy at least become an incentives;

Marketing blog

2008-03-27T19:11:00.000-07:00

Blog marketing the concept of a simple, it is companies or enterprises to use this blog interactive network platform, distribute, and update business or company profiles and the relevant information, and pay close attention to all platforms and to respond promptly to customer queries related enterprises , as well as consulting, and through strong blog platform to help enterprises or companies zero cost search engine than before qualifying, so as to achieve the purpose of publicity marketing means.
Blog marketing application include corporate blog, marketing blog, the main difference between those who, for personal interests or personal privacy as the content of personal blog. In fact, regardless of whether or blog called enterprise marketing blog or blog are generally personal acts (of course does not rule out the possibility that a company's collective blog writing the same theme may be), but the content and writing in regard to the starting point distinction: Enterprise Marketing blog or blog with a clear purpose of the enterprise marketing, blog articles will be more or less a corporate marketing colors.

"Marketing blog - and network marketing blog" is the new online marketing Observation Network Marketing hot topic of the blog professional research in the network marketing applications. The blog marketing, or blog in the Network Marketing issues such as the application of the current system is also very little research articles, especially in "in the end what is blog marketing," or blog marketing and other online marketing strategies of the relationship between the blog, as well as how to correctly carry out marketing, and other basic issues still lack details. Internet Marketing Ying Feng-founder of the new observation from 2002 began to pay attention blog in the application of network marketing, and the first to be widely used by the definition of blog marketing. Observation of the new online marketing blog marketing enterprises will continue the practice and applied research.

Blog marketing strategy
1, select blog hosting site, a registered blog account choose functional improvement, and stability for the development of the enterprise's own blog system blog marketing platform, and the article was published blog eligible. Blog hosting site selection should choose to visit than larger and higher visibility of the blog hosting site, the site can be ranked according to the global information system analysis and judgement. In the field for a blog site, we should not only consider their visits but also in the field consider the influence of the influence of the higher blog hosting site, the credibility of its content blog also higher .
2, the blog excellent choice in the initial stage of marketing with enterprise blog to disseminate information which is a prerequisite to have good writing skills of the blog, in blog issued their own life experience, work experience and some of the hot topics Comments and other information at the same time, but also with publicity enterprises, such as corporate culture, brands, especially when the blog is published articles in the field of a certain influential figures, released by the articles more easily arouse concern, attract a large number of potential users to browse through the contents of the article for the personal blog readers understand business information. This shows that the marketing-oriented blog with the need for good language skills as a basis. So the blog marketing needs of enterprises with outstanding blog basis.
3, and create a good environment blog enterprises should adhere to long-term use of blog, and constantly replacing its contents, in order to play its lasting value and the proper role of primers more readers. So a blog marketing enterprises it is necessary to create a good blog environment, a reasonable incentive mechanism to inspire enthusiasm blog writing, and enables companies to blog their continued creativity and passion to write. At the same time they should be encouraged to work beyond the normal activities of the individual companies adhere to release the blog useful articles, such a long-term accumulation of enterprises in the information network will be the plot more potential users were also found to greatly increase the. Thus, use of blog marketing is a long-term plot counting process.
4, coordination personal views and enterprises Cao sales strategy in the differences between writing a personal blog, but network marketing is a corporate marketing activities. Therefore blog marketing necessary to correctly handle the relationship between the two, if all blog articles written by the official point of view on behalf of the company, then the article on the blog lost its personality characteristics, it would be difficult for the reader's concern was to lose the significance of information dissemination. However, if the blog article represent personal views, and inconsistent with the position of enterprises, the enterprises will be restricted. Therefore, enterprises should develop some good writing skills of the staff of writing, they write something that is reflected enterprises, and also maintain their own views and dissemination of information. This will be the concern of potential users.
5, the blog system to establish their own enterprises in the field of marketing blog more successful, then it can consider using its own servers, to build their own blog system to employees, customers and other outsiders open. Blog hosting site of the service is free of charge services. The service is not bear any responsibility, so service is not guaranteed, and if interrupted service, enterprises blog accumulation of a lot of resources would be destroyed. If you use their own blog system can be managed by hand, regular backups, thereby protecting the blog site stability and security. And open system will lead to more blog peer, client applications and to establish their own blog, so that more people added to the enterprise blog publicity team, the greater the level of influence on the expansion of enterprise.
Blog marketing value
1, the blog can bring potential users blog content posted on the blog hosting site, such as blog network www.bokee.com its web site (www.blogger.com), these websites often have a lot of users groups, valuable blog content will attract a large number of potential users to browse, so as to achieve marketing to potential users transfer information to the network using this approach to marketing, marketing is the basic form of blog, blog marketing is the most direct value performance.
2, the value of blog marketing website promotion reflected in the lower cost web site promotion of the work of the enterprise network marketing elements, a large number of corporate web site after the completion of the lack of effective promotional measures, which the site was visited by too low, reducing the actual site value. Through the blog, in blog content in the appropriate information into the organization's web site (such as a hot product links, online web site links for downloading vol) website to promote the purpose of this kind of "blog promotion" is extremely Web site to promote low-cost method of reducing the cost of promoting the general pay, or not to increase the cost of Web site promotion, upgrading the site visits.
3, blog article content through the search engine for users access to information through various channels provided an opportunity for the transmission of information is the Internet marketing success of that through the blog articles, users can be found through the search engine business information, the main reason is that, Generally speaking, the visit of the larger sites than the general business blog site search engine friendly better, users can be more easily found through search engines these enterprises blog content. Here the so-called search engine visibility, which is allow the greatest number of pages included by the major search engines, and when users make use of relevant keywords search, the location of these pages, and summary information more easily aroused the attention of users, so as to achieve use search engines to promote web site objective.
4, blog articles can easily increase their number of links to other websites have access to other related sites links is a common way to promote the web site, but when a corporate site is not high visibility and traffic is low, often it is difficult to find valuable links to their own web site, through articles in their own blog-based company's Web site link is logical to do things. Blog has published articles for increased Links initiative and flexibility, this is not only possible site for the new visits, the site has also increased in the search engine rankings of the advantages that some of the major search engines such as such as the one Website links to other sites also the quantity and quality of its ranking as one of the factors.
5, can be achieved at lower cost to the readers of the content on the popular blog, the blog websites have also become users and the exchange of places, what issues can be raised in the article in the blog, readers can comment, on the blog readers can understand the contents of the article, the author replies readers can comment. Of course, we could also set up blog article online questionnaire link to interested readers to participate in the investigation, thus expanding site online questionnaire put in scope, can also be directly on the investigation and conduct exchanges with readers, make more interactive online survey, the results of the online survey is to improve the effectiveness, which means lower research costs.
6, authoritative website blog is to establish brand as the ideal way to personal blog if you want to become an expert in the field of, the best way is the establishment of their own BLOG. If you persevere on the blog, you create an information resource you will generate substantial traffic in these information resources, including your valuable collection of articles, Web site links, practical tools, these resources for their own continued writing more articles to help improve good, so virtuous cycle, the accumulation of such resources is not how much input, but its return is considerable. Business blog is the same token, as long as they stick to a depth of the field of research, and to strengthen the multi-faceted and users exchange for a member's brand recognition and loyalty provide an effective way.
7, blog smaller competitors were beyond the potential losses
In 2004, the blog (BLOG) in the global context has become one of the popular vocabulary, and not only in blog writing rapid growth in the number of users who browse the blog content of the website the number of Internet users is increasing dramatically. In the blog by the cost of the time spent, in fact already from other savings in the cost of compensation, such as writing for the blog site is the content of the same enterprise content of the website can be used to update, or other releases in the value of marketing media. Conversely, if the blog was because no competitors beyond, that loss will be immeasurable.
8, blog marketing staff from passive to the media to rely on the independent release information in the traditional marketing model, enterprises often need to rely on the media to publish business information, not only by the larger constraints, but the cost is relatively high. When the sales staff have their own blog garden, you can always release all the information you want to release! As long as such information does not violate state laws, and information on the user is valuable. The emergence of blog, marketing personnel of the market, and methods of marketing concept has brought major changes blog every business, every person the power to release information, and how to effectively use this power for enterprise marketing strategy, and will depend on market background and the knowledge of the application of blog marketing capacity, and other factors.

Word-of-mouth

2008-03-25T19:15:00.000-07:00

Word-of-mouth (Word of Mouth) from the communications, marketing and was widely used. In the end be counted as a word-of-mouth marketing? The answer is yes.
Google is now a legend of the Internet, Google is What is the basis for development of the? Spread the word that I want to say is the word of mouth marketing, word-of-mouth marketing is that the people have the characteristics of a product or service on the feelings of good feelings in their own products and services to communicate to a third party, so that other people understand the products or services.
As word-of-mouth marketing is the use of mutual communication between people, and basically through friends, colleagues, relatives, classmates and other dissemination and exchange of a very high credibility Therefore, the word-of-mouth marketing is the biggest feature of the high credibility, if Network marketing staff if I believe that the use of Internet marketing is word-of-mouth marketing their main choice of one of the ways.
I give word-of-mouth marketing is defined as "word-of-mouth marketing is that enterprises in the survey market demand, the need for consumers to provide their products and services, while promoting the development of certain reputation plans to give consumers automatic transmission products and services of good evaluation, so that people understand the product through word-of-mouth, a brand and market awareness, and ultimately achieving enterprise product sales and service objectives.

China's Internet network marketing experts Houtingnu: disabilities in the "On the advantages of word-of-mouth marketing, as well as its limitations," the article: word-of-mouth marketing by the industry as "viral marketing" because its spread of the influence of the big. Many entrepreneurs will find that the product has a good reputation, will produce even greater profits value. In foreign countries, there are also many marketing staff for their research. Marketing experts Emanual Rosen United States that "the so-called word-of-mouth on a brand all about, and the corresponding time on a certain things (including products, services, companies, etc.) people-to-people exchanges between the sum of all."

The so-called word-of-mouth marketing by the producers and sellers outside individuals, express or implied, by the way, do not deal with third-party processing, transmission on a particular product, brand, manufacturers, sales, as well as to make people think of the above target Any organization or individual information, thereby enabling access to information are the nominees, to change attitudes and even affect the purchase of a two-way interactive communication behavior. Can be simply interpreted as "to buyers through word of mouth in the way that goods purchased conveying this message to the family, friends and contacts in the life and work of the people, thereby contributing to the formation of their decision-making to buy a marketing way." All that is a way to spread the word-of-mouth marketing can be called word-of-mouth marketing.
Word-of-mouth is to meet customer needs and win customer satisfaction and customer loyalty, access to positive word-of-mouth, and their customers, as well as to establish good relations with their enterprises and brand image as the goal. To achieve this goal, in word-of-mouth marketing in the enterprise before, we should have a full and clear strategic plan. Word-of-mouth is in the development of strategic objectives and positioning, it needs to consider prior to the heterogeneity of customers and the impact of risk, taking into account positive and negative word-of-mouth reputation arising from the difference between the value of customers, taking into account long-term, medium-term and short-term mix of word-of-mouth marketing strategies, taking into account channel members, opinion leaders, the media, competitors, customers, and other factors. Customers with the roles were reversed, an executable form, can be controlled, measurable and easily understood a word-of-mouth customer marketing channels.
Through word-of-mouth marketing, help enterprises to increase sales, lower cost access to new customers, maintain relations costs and the costs to increase corporate profits. As a result, word-of-mouth and word-of-mouth communication and word-of-mouth marketing these three concepts are connections and differences between them, can not be equated use, can not be transplanted, according to different needs of the purpose of use in a targeted manner to use and the need to accurately on word-of-mouth marketing the key to effective customer identification and strengthening management.

Brand

2008-03-25T19:10:00.000-07:00

Brand definition
1. Brand refers to the provision of goods and services or integrated logo.
There are two kinds of brand definition is a general sense of the definition: a brand name, terminology, symbols or designs, or combinations of them, the aim is to identify a seller or a particular group of the sales of products or services, and the competitors of the same products and services to distinguish. Brand means that products and origin, and of similar products with different words, names, symbols, or a combination of designs.
Another is the development of brand strategy as a definition: Brand is more than these elements through a series of market activities and the results demonstrated by the formation of an image recognition, I feel, quality awareness, as well as through out the performance of these and customer loyalty, the whole it is a form of intangible assets. Therefore, this time a brand is emerging as an intangible asset. 2. Brand contains a trademark, attribute, name, packaging, pricing, history, reputation, advertising, public relations - public relations style, and other factors, enterprises and their implication the quality of goods or services and reputation. Consumer brand value depends on its perceptual knowledge (impression and experience).
3. Brand is not only the quality of business-to-consumer and business commitments received by the consumer confidence level.
Brand Mistakes
Now the community are talking about brands, enterprises want to do with their own brands, the brand, national policy has also given a lot of support, the media also carried various brand concept. However, the current concept of our brand there are many errors, a lot of people's awareness of the brand is not clear, resulting in shaping its brand of vague, arbitrary, the result of natural brand is not satisfactory.
The value of products, brand brand value.
Enterprises do product, the value of products; do brand, brand also has brand value. Selling products, brands can also sell to consumers to buy a product, access to the products in the interests of consumers to buy and if there is something brand value, it will be the interests of brand value. If Brand can not bring benefits to consumers, it will not be able to brand trafficking, trafficking in the things we can not shape it also Why? Sell more products to the interests of the products. Therefore, since we are to build brand, the brand must have a separate value, the value of its individual products to meet and satisfy is not the same as the products to satisfy the interests of the consumers is the need or demand; and brands to meet demand though, but more of the sexual desire.
Desire is to satisfy the soul, the soul of the consumer in order to meet their own consumption will pay, this meet is the brand to consumers. Brand to consumers is a spiritual needs of sentimental value, this value is interest.
In fact, the concept of brand products to dock emotional crowd
We must clarify brand concepts: the concept of brand products is the corresponding consumer groups emotional needs. Enterprises should create brand products is the consumer products corresponding value of the specific expression of emotion. For example, young girls are like "super show" in Li Yuchun, it is that Li Yuchun this "product" shown by the temperament, habits, behavior, and other brand elements with these girls mind the emotional needs, which raises value, the value is the corresponding Li Yuchun groups emotional needs rather than her own needs. So brand products that meet consumer sentiment corresponding value of things rather than the trademark product, the packaging of their products or concepts. Now many people are there in this regard misunderstanding. Misunderstandings can understand enterprises exist because China's enterprises has just begun in pondering how to shape their own brand names. However, some experts have arisen on the question of Tabuyinggai, these experts do is to guide enterprise brand, is also not ambiguous.
Brand is not made out of its own
I can see that there are many media have opened up a brand columns, go to some entrepreneurs and experts to talk brands, the results Shui bends. Moderator brands do not understand the media, finally Then we have to speak became a big brand, as we like to manufacture atomic bombs like to create a brand. In actual fact, their own brand is not able to do so, it must be recognized by consumers. Such is the value of being recognized by the combination of many elements, it takes time, because this is not a simple recognition of the value of the interests, through public relations - public relations and other means of shaping the emotions of others is the value of recognition.
Simple interest is not recognized brand value
Not a consumer brand companies said their emotions only response will be to the value of consumption, and the value of goodwill is a part of emotion, but also accumulated more sentimental value, to reach the overall brand identity. The interests of identity is a simple value, the product is a consumer interests. The brand is in the interests of the social environment in the emotional needs and desires demand. All of these enterprises should think how to do it, if simply say that the brand is a trip to the internationalization of the express train, take this car corporate brands will be how how kind, which is the superficial. This is fundamentally different issues. So the concept of brand is not clear the entire China market generally faced with a phenomenon.
Brand Support
Brands, the majority of enterprises and consumers of a product's excellent product quality, and improve after-sales service, a good product image, a beautiful cultural values, outstanding management, and so on results ┉ formed by an evaluation and understanding of the enterprise operators and managers input enormous human, material, or even long-term hard work of several generations of people built up with a kind of trust between consumers ......
Quality is the brand essence, is fundamental to the lives of brands;
Service is an important support brand is an integral part of commodities, is the focus of competition in the market;
Brand image is in the market, consumers have shown themselves to the hearts of the personality characteristics, reflect the evaluation of consumers and the brand awareness;
Cultural values is the connotation of brand is the spirit of social and material shape and form of reunification is the consumer mentality of modern society and the integration of cultural values;
Excellent management is the guarantee of success depend on, rely on the success of brand management of all creation, development, innovation, brands can be the basis of the healthy growth ...
Network Brand
Network Brand (net brand), the network brand up to now do not have a scientific explanation, I talk about their own personal understanding of the network brand. Brand said in the network before I talk about what the brand is used to identify a particular brand or a particular group sales of the sales of products or services, and make it with a competitor's product or service to distinguish between the business name and logo, normally text, markers, symbols, patterns and colors, and other factors, or a combination of those elements pose.
This is the American Marketing Association's explanation. From here we can see the "brand" is a company's products or services of the impact on people, the traditional understanding of brand marketing for the company's products or services of the people of the values of the people affected. Network brand and the brand is in the traditional developed on the basis of the traditional brands for enterprises, corporate brands in the minds of consumers establish image.
A good brand of customers affected is the people, on the basis of its brand extension to the network products such as site name, the name of the domain site, such as LOGO these things in the eyes of netizens network is the image of a brand, this definition is "narrowly the definition of "a broad network brand definition is:" a enterprises, and individuals or organizations in the establishment of networks of all good products or services in people's minds is the image of a network brand, which is personal understanding, if any comments or Please contact me with the proposal.

Brand marketing in the network before that we have to figure out what is the concept of such a network marketing? Personal understanding that "individuals or enterprises to use the Internet to provide online marketing means to the various corporate products and services to achieve their own propaganda out on the value of network marketing is called." We understand the "network marketing" with "brand" to the concept of integrating the two networks can be on brand marketing, and here I would like to combine the two to talk about their understanding of the network brand marketing: "enterprises or individuals or organizations use the Internet as a medium, using a variety of network marketing means for the promotion of products or services, in the minds of consumers, a good brand image, and ultimately enterprises to promote the product or service out at the same time meet the consumption demand of enterprises The value of their own brand called network marketing. "
Brand Agency (unofficial)

At present there are two brands of civil academic, activities, forums, Fabang the authority of organizations:
1, Institute of Chinese brands
China Brand Institute is the recognized authority of the domestic brand value rating agencies China, as well as the most important brand-building ideas communications platform. China Brand Institute is an independent academic character and values, do not rely on any power agencies and interest groups, the industry enjoyed a good reputation and credibility.
Construction of the Institute of Chinese brands "goodwill value of five common evaluation system", "Chinese symbol of brand evaluation system", "Chinese personal brand value evaluation system", "Chinese enterprises brand reputation rating system" in a series of professional assessment tool , originality, forward-looking, science known, and is regarded as China's leader on brand and industrial policy-making departments in charge of an important reference.
China has always been committed to the China Brand Institute on brand building, brand building on China's Theory and Practice of active exploration. China Brand Institute has dedicated web site, irregular release of the top corporate brand building, publishing and pictorial album.
To promote the brand on the Chinese market to help Chinese enterprises to better build our own brands, Chinese brand Institute research center established brand, the brand for the Chinese market elite of the study provide a platform for exchanges and cooperation mechanisms.
Survey Institute of China's domestic brands more than 200 leading experts, these experts mainly by the branding expert, assessment experts, financial experts, accounting experts, these experts mainly distributed in four fronts: First, the institutions renowned professors and teachers, 2 a variety of industry executives, and the third is consulting company Summit, the four financial media is a senior reporter.
Chinese brands are deployed annually Institute of 3-5 months to complete an important task. In addition, in the "help enterprises enhance brand competitiveness," the purpose of China Institute for brand enterprises in China to provide brand diagnosis, brand positioning, brand planning, brand assessment, the evaluation of brand value personalized service.
2, Brand China Industry Alliance
Brand Union: Brand China Industry Alliance is to promote "brand of Chinese industries, the industrialization of China brand" illegal, activities, academic civil Union.
Union by the National Federation of Industry and Commerce and Education Department, the China Economic Research Center of Beijing University, China's public (private) business Economic Research, the China International Public Relations Association, and other relevant departments and national industry associations, Sina Net, "Chinese entrepreneurs" magazine, the Xinhua She "China's famous magazines, more than 140 domestic mainstream financial media, more than 200 top brands of domestic experts, scholars, co-sponsored.
Union on December 18, 2005 in the Great Hall of the formal establishment of the Ninth CPPCC National Committee Vice-Chairman Wang Wenyuan attended Union and the establishment of the General Assembly of the Union flag. Haier Group, Mengniu Group, TCL Group, the China International Aviation, Inc., Geely Group, Focus Media, and so more than 400 of the country's most famous brands of domestic enterprises and more than 100 well-known brands planning to promote the organization to become the first member of Union .
Union by the first President of China, deputy director of brand promotion committee, "Economic Daily News" editor-in-chief of China's earliest advocates of the brand-name strategy, China's famous theory greatest Members Ai Feng Professor; alliance strategy consultants from "Chinese entrepreneurs," the magazine's Mr. Chang Dong-Hua Liu; by the Secretary-General of All-China Youth Federation, served as member of Wang Yong.

Marketing Planning

2008-03-25T19:08:00.000-07:00

Marketing Planning

• What is a marketing plan?
Marketing planning is a strategy for the use of wisdom and marketing activities and rational behavior, marketing, business planning is to change the status quo, to achieve the desired objectives, using scientific methods and innovative thinking, analysis of innovative design and develop marketing programmes rational thinking.

• The marketing plan is a fixed format?

I am in favour of the planning criteria for the use format. In this way, executives can more easily compare different planning, but also provided them with an orderly way to judge the effectiveness of marketing. Marketing planning should be Scenario Analysis (Situational Analysis).

Marketing plan includes six steps: Scenario Analysis, objectives, strategies, tactics, budget and control.

Scenario analysis:

Enterprises must first clear which of the various macro-environment forces (economic, political / legal, social / cultural, technical) and an insider - enterprises, competitors, distributors and suppliers. Enterprises can SWOT analysis (Strengths advantages, disadvantages Weaknesses, Opportunities opportunities, threats, Threats). However, such analysis should be done some changes, the revised become TOWS analysis (threat Threats, opportunities Opportunities, Weaknesses disadvantages, advantages Strengths), is to analyse the reasons for the order should be thinking from outside, rather than from within the outside. SWOT analysis method may be given undue importance of internal factors, mislead enterprises according to their own understanding of the selective advantage to external threats and opportunities. This step should also include the company the main problems facing the sector.

Goals:

Analysis of the scenarios identified in the best of those opportunities, and businesses need to be sort, and then Proceeding from this, the definition of the target market, the establishment of objectives and timetable for completion. Enterprises also need to stakeholders, the corporate reputation, technology and other interested parties to establish goals.

Strategy:
There are many goals any way to reach the strategic task is to select the most effective means of action to complete the goal.

Tactics:

Strategy launched into full details, including four P and the timetable for the various departments and tasks.

Budget:

To achieve its corporate goals of the planned activities and acts of the cost.

Control:

Enterprises must set up the time and measures, timely completion of that plan. If progress lagging, enterprises must corrections objectives, strategies or acts to correct this situation.

• What is a good marketing plan like?
My experience tells me most of the marketing plan are not well developed. These marketing plan or rife with outdated figures, as well as advertising, a lack of strategic guidance, or tactics and strategy is not related or unrealistic goals, or marketing budget planning requirements too much, or not enough feedback and control plans to amend.

I have employed an IBM company to audit its current marketing plan. In general, these schemes have not done well, but I have many of them in the assumptions and data raised doubts, these plans were made to revise marketing departments.

No marketing plan to guarantee the smooth operation, but not the marketing plan certainly not smooth implementation.

• business plan and marketing plan What is the difference?

For these companies the use of terms varies. Some enterprises develop marketing plan initially, when it changed its business plan. Business plans to inventory planning, production plans, and so include the financing plan. Companies often mix these two terms.

I tend said comprehensive plan for "battlefield plan." This plan should ensure that you in the first game, before the battle started on the whole has won the war. If you can not introduce better, newer, faster or cheaper product, you should not enter this market. Battlefield plan should begin in the first battle constantly changed - you must learn to re-design the side while flying aircraft.

• Some people say that after the completion of marketing planning obsolete, because market conditions are constantly changing.

Changes in conditions, the enterprises do not need to change the marketing plan objectives. The first line of defense is to change tactics and budget, if it was not enough, then also need to amend the strategic marketing planning. All these failures, is necessary to amend the marketing objectives.

The most important thing is to constantly update your plan, Eisenhower (Eisenhower) said: "The preparations for a battle, I found that the plan is useless, and continuously updated plan is the key." Continuously updated plan calls for in-depth plans were, advance to conduct more systematic thinking.

A positioning analysis:
Site Analysis: Anatomy of a Web site's own analysis, to find the website of the foundation where the problem lies;
E-commerce positioning: enterprise e-commerce Web site positioning, the location of specific site;
E-commerce model analysis: analysis of the e-commerce website model, research and e-commerce Web site matching mode;
Analysis of industry competition: competition in the industry, the comprehensive analysis of industry website;
Site Development Plan Analysis: e-commerce site with short-term planning and long-term development strategy for the implementation of feedback analysis.
Second, the website of:
Site diagnosis: Site structure is reasonable, whether efficient, are convenient, with the habit of user access;
Web site pages diagnosis: whether to streamline code pages, the page is clear, pages capacity is appropriate, whether it is appropriate color pages;
Diagnosis of documents and the file name: document formats, such as the file name;
Access System: statistical system installation, Lailu analysis, regional analysis, visitor analysis, keyword analysis;
Promotion Strategy diagnosis: Website promotion strategy is effective, whether backward, and whether to adopt the composite promotional strategies.

Securities market

2008-03-25T19:04:00.000-07:00

What is the securities market
SEC also said that the securities market circulation market, the secondary market (security secondary market), the secondary market is that the issue has been the sale of securities, transfer and circulation of the market. In the secondary market sales income securities belonging to sell securities investors, and not to distribute the securities company.
Securities and Exchange market in two forms

In some developed countries abroad, the Securities and Exchange market transactions at the market and the OTC market in two forms.
1, the transactions of the exchange market at the trading market 'refers to the organization by the Stock Exchange on trading markets, the transactions have a fixed place and time transactions, in most countries it is the only place of securities transactions, it is the most important, most concentrated securities market. Stock Exchange for acceptance and compliance with the relevant provisions of the Act listed for trading securities, investors through the Stock Exchange of Securities Dealers for securities trading.
Stock Exchange is not only buyers and sellers of publicly traded places, and provide a wide range of services for investors, the Stock Exchange to keep the investors listed on the Stock Exchange of securities transactions, such as transaction price, quantity, etc.; securities issued to provide financial enterprises announced , for investors. Stock Exchange to develop rules to participate in the transaction brokers and dealers strict management, supervision of securities trading activities to prevent market manipulation, insider trading, fraud, and other illegal and criminal activities. Stock Exchange to continuously improve the systems and facilities to ensure that normal trading activity continued, and efficient manner.
2, OTC market known as OTC market transactions or store counter trading market, the means of the Securities Exchange buyers and sellers face-to-face bargaining contract market, it did not have fixed places, the main use of the telephone transaction, the Securities and Exchange not listed in the securities based, in certain circumstances also listed on the Stock Exchange in OTC securities. OTC market in the securities of Securities Dealers both dealers and agents of double identity. As dealers, he can sell his holdings of securities customers or clients to buy the securities, and to make a bid; as agents, can be an agent, the identity of other dealers to buy securities sold . In recent years, some foreign OTC market has undergone significant changes, they used a large number of advanced electronic trading technology to enable the market to more extensive coverage, market efficiency has greatly improved. This regard, the United States and the Nasdaq market as typical examples.
The characteristics of the securities trading market

1, the securities to investors in securities trading places as the main participants, it is mainly holders of securities and the currency to buy the securities holders. In addition, the issuance of securities and securities intermediaries are also participants in the securities trading market, but its mandate is to support investors and the completion of the transaction, rather than an independent securities trading activities participants. As an exception, securities intermediaries may also act as investors.
2, the securities market has mainly taken the form of physical market, there are also a small number of invisible market.
Stock Exchange is a typical physical market, it has a fixed sites, facilities, equipment and professionals; other trading venues such as counter trading market, often in the form of a decentralized transactions, but in general securities companies must also rely on the counter and trading network to complete. this is the physical market is generalized. In accordance with the composition of the securities trading market and the existing form of securities trading, the market can be subdivided into Stock Exchange and the OTC market.
3, securities market and the issuance of securities market interdependence.
Securities market on the issuance of securities market-dependent, first of all, because the securities trading market for securities issued to trading partners, the Securities and Exchange market trading partners have been outstanding securities, but not yet issued securities. In this sense, the issuance of securities market is the premise of the securities trading market. On the other hand, China's current public offering of shares by the majority of the Stock Exchange's trading network, to "online distribution", which makes the issuer of the securities market also rely on market transactions. Issuance of securities markets and the relationship between the abnormal trading market complex, whether it is the types of securities issued by the price, quantity and size and other factors, are to a certain extent subject to the Securities and Exchange market conditions. China "Securities Act" allows the issuance of securities and the securities companies consultations pricing, resulting in the distribution market prices and trading market prices gradually aligned with the rest of the link between the two markets become more closely. It can be said that the issuance of securities markets and exchange markets between interactive role.
The functions of the securities trading market
First, to provide holders of the securities will be realisable securities place;
Second, the new investors investment opportunities. The market opened by the Stock Exchange and the Stock Exchange market securities companies set up by the OTC market. Various types of securities in the secondary market for the smooth flow is conducive to the formation of a fair and reasonable price, and the realization of monetary capital securities capital conversion.

Shareholders

2008-03-25T19:02:00.000-07:00

What is the shareholders?

Shares of the company shareholders are investors or called investors. Shareholders are joint-stock companies or limited liability companies holding shares, the shareholders have the right to attend the General Assembly and have the right to vote, they also refer to the other joint venture business investors.

Existing shareholders of a company is based on the company's core elements; no shareholders, there will be no company. From the general sense, is that the shareholders holding shares in the company or the investor. According to the "Company Law", after the establishment of limited liability companies, investors should be issued certificates to shareholders, shareholders and maintain lists of the names of shareholders or record the name and residence, the capital of the shareholders, investors certificate # and so on. "Company Law" At the same time, limited liability company's shareholders to transfer their funding in accordance with the law, will be the company name or the name of the assignee, shelter and the transferee's contribution recorded in the register. Accordingly, in accordance with the above provisions for non-transfer procedures, the transfer of the company does not legally binding. Thus, the limited liability company to company shareholders should be funded, and their names registered in the list of shareholders to the company.

As Ltd., China's "Company Law," allowing both issued bearer shares, allowing issued bearer shares issued bearer shares of the company, shareholders should maintain the roster and that the transfer of the bearer shares, the company will be the name of the assignee or names and home records in the list of shareholders. This should be understood as, Inc., the holders of bearer shares shall be shareholders of the Company, the holders of bearer shares, at the same time should be the name and home records in the list of shareholders, the shareholders of the company.

The legal status of shareholders

1, the shareholders have the right to shareholders. Refers to shares held by shareholders according to the enjoyment of the rights and obligations. Based on its own investor shareholders or holders of the shares, the company committed to the enjoyment of the rights.
2, the shareholders should be equal. Based on its shareholders eligible shareholders, the shares held by the nature, amount to equal treatment.

Retail

2008-03-25T19:00:00.001-07:00

Interpretation
Narrow: that retail investors in the stock market, those funds into the stock market of smaller individual investors.
Generalized: retail is relative and the institutions, individual investors (regardless of the number of funds) can be referred to as retail investors. This is mainly because no matter how much personal funds in the capital market and a small number of all before. In the 1990s, a large number of retail transactions concentrated in a layer of the main hall, known as the "retail Hall" with a number of independent commissioned independent trading system.
At present retail situation
In recent years, China's stock market in the global context of the stock market rose because of the issue of integrity, regulatory issues, such as structural problems and decreased year after year, in such a market, retail investors are the most disadvantaged in Game location, and many have suffered a loss. Solve the structural problems of the above, the game will retail in the market greater opportunities. Many retail investors because of the previous investment losses in the psychological shadow existence, but also the appreciation of the renminbi and other opportunities to the retail investors a lot of opportunities.
The main components of retail
The main component of retail in time students, the salaried class, laid-off workers, retirees, and so on.
The main features of retail
Retail is not, as often as envisaged by the performance of a low professional standards in their understanding of the often to be on the state's macroeconomic policies, trade policies, the listed companies to financial situation, the senior-specific speech on the informative personal view of some particularly dedicated individual skills in addition to observe and learn from Reuters, or even fly to listed companies do field research, work style characteristics quite similar to the investment institutions researcher.
Makers and retail
Makers are doing a stock, for a long time on the stock to the detailed investigation, research, analysis, and developed a detailed plan, such as adjustment of the indicators in place, slowly into practice; retail looking at computer screens, March 5 minute decision sale.
Makers use Jiganyi, 10 Jiganyi do a stock, with hundreds of thousands of small investors, and hundreds of thousands of doing dozen stocks. Makers stock as a year or a few years, retail stock as a few weeks or even days. Makers year to 12 stocks, retail stocks a year to dozens, or even hundreds of stocks.
Makers like to concentrate our funds battle of annihilation; more than retail investors like to buy stocks for investment diversification, and some earned, some lose, and ultimately did not make the number. Makers like some of the more unpopular stocks, from its cold sizzling make money like some popular retail stocks, its cold grip from heat loss.
Makers Although capital, information, and many other advantages, but still not on the technical theory lightly, the Dow Jones theory, trends theory, Jiangen rules, and other basic theory, Lanshu the chest; retail K line theory failed to good grasp and began to promote On the technology useless.
Makers attaches great importance to retail investors, to retail investors in the capital to listen to their views and understanding of their movements, to the Suns, and humbly say that the retail increasingly clever; Makers of the retail operations and changes dismissive, and often said that the small Zhuang, the weak-chong, Zhuang this stupid!
Makers leave after completing a stock that busy for such a long time, but also let the rest of the money breaks; retail stocks finished a suspicion not earn the amount tirelessly continue to do so, never rest.

Nasdaq Stock Market

2008-03-25T18:58:00.000-07:00

-- NASDAQ is the initials "NASDAQ" a transliteration of the name name is the United States, "National Association of Securities Dealers Automated Quotations system." It was built in 1971, was the world's first electronic stock market. It uses modern computer technology, the United States will be more than 6,000 dealer outlets connected together to form a unified national over-the-counter secondary market. 1975 passed legislation to define this system in the securities market in the two legal status. Nasdaq development and the growth of high-tech industry in the United States are complementary, were regarded as "the cradle of the United States the new economy."

Global DRAM Pricing hand

2008-03-25T18:53:00.000-07:00

Global DRAM Pricing hand refers to the financial market in the securities and futures trading plan to designate species person. [Content]

Global DRAM Pricing hand is a new word, it is with the stock market opened into the life of the Chinese people. It marks the birth of China's economic changes.

Global DRAM Pricing is the hands of others who invest in stocks. If securities companies inside the person responsible for buying and selling stocks. Global DRAM Pricing hand primarily for the large (investment) services, they often traders origin, a good grasp of the See how, according to the customer's requirements can master the timing of opening positions, the establishment of skilled grasp of the skills and dished out chips, advantages in the use of funds to a certain extent, the development of control See how they can be found on each See how subtle changes, thereby reducing the risk of the occurrence.

Global DRAM Pricing is not speculation hand in hand, they are not alone speculation, because speculation does not require major capital alone, they do is the trend, and their purpose is to control See how rather than rely on tiny spreads to accumulate profit. An ordinary investors in futures to an outstanding Global DRAM Pricing hand, as if from soldiers to generals, in addition to withstand the test of time, its basic premise is two-fold: First, this industry, the plant had Gentou, But still Chixinbugai, like transactions, repeatedly foiled. Global DRAM Pricing hands professional traders, not fancier. Professional and amateur quite different. At any one industry to be successful, like the industry and threw himself into the conditions is essential. Second, admit not admit defeat, acquire, conscientiously sum up the reflection. This is the nature of outstanding Global DRAM Pricing hand. Confident but not conceited, but to comply with the spirit of discipline, and the market is full of fear the people, anytime, anywhere obey the call of the market, the market would never make irresponsible remarks, imagines that the market will obey their wishes.

Jiancang, Xitao, overstating, retreated shipments, the clearing - is a day-to-day work of the Global DRAM Pricing hand.

Because often it is necessary to manipulate the amount of funding, there has been a misunderstanding of the outside world: the success of Global DRAM Pricing hand are those with a high degree of renowned universities flyers transactions must be racking their brains to profit. In fact, the Global DRAM Pricing is not academic research.

With the ordinary people thought different, Global DRAM Pricing hands daily life is neither nervous nor mysterious, more is the need to carefully, and then the rest is boring, because operations have focused on the trend of the day when the map. Of course, the pressure is also very strong, not only because of the commission to request each item of maximizing profits, also called in each and every stage of the maximization of profits.
[Characteristics]

Global DRAM Pricing - is a very artistic work, as financial markets do not exist, such as physics and mathematics, such as the truth, the art of composition transactions far more than science. Global DRAM Pricing hands, mostly to the character, do not love language, but certainly a startling statement. This is not a lot of personality to their nature, but because of the choice of the reasons for this occupation. Global DRAM Pricing is a tight-lipped about the occupational hand the minimum quality.

Secondly, a good Global DRAM Pricing hand must have good savvy. Stock market movements unpredictable, and no one will provide you with an effective analytical methods, and all can only rely on ourselves to explore concluded.

There is a good attitude and strict self-discipline. Stock market always filled with a variety of temptations, people in a wide variety of weaknesses, and only by maintaining a sense of balance, the market can withstand the temptation to overcome the weakness of human nature. There is a saying that good, "plan your transactions, trading your plan."

Global DRAM Pricing hands of these obvious, it goes far beyond the name of a profession. "This thing you Global DRAM Pricing!" Global DRAM Pricing, from the financial terms graded into people's everyday language, this derivative and semantic meaning of a new word the rapid ordinary people. Civilians on the meaning lies in its people has been submerged economic life and social life and the stability of everyday language, and no longer be of particular concern, because we have already traversed a historical period. Robust life concerns we need to update the words.
[How to be a good hand - Global DRAM Pricing

In the above-mentioned conditions, into an outstanding Global DRAM Pricing hand from the following three aspects:

1. Must have some spirit. If the person does not drive, a gas, nothing can be done. Investment in the futures Yugong must have a spirit of the spirit of fools. The so-called spirit of Yu Gong is not a purpose is not to give up, self-confidence, success, Fu Wei books, Fu Wei experts, but only the actual spirit. Fool on the so-called spirit that I do not suffer who suffer, I do not hell Who hell spirit. Never care about, penny wise and pound foolish. Fool also reflected in the spirit of the rules insist on the principles, we saw Fu Wei-li, not thinking. Fool spirit is a kind of courage of the 10 folds to 350, and passed the matter, I still never hesitate Henan, timid, its word to deed the spirit of daring to play. Dare decision is a failure of the investment and outstanding Global DRAM Pricing hand watershed.

2. Say that method. Xuegui properly, Yong also must have a plan. Futures Investment is not acting recklessly, the key is to reflect on the need to sum up, we should learn from. People to the futures market investment objective is to make money. In order to make money, they must be thinking why would lose money? Compensable under what circumstances the little money? Compensable under what circumstances lot of money? Repeated loss under what circumstances? If these problems can Zhuomoshu, they will be able to find a futures market in the most basic, the core of not losing money. Not only lose money, the money will be able to become the only option. In essence, Global DRAM Pricing hand过人之处outstanding performance in the sound and prudent.

3. Alchemy is refining intention. Nothing in the world is difficult for one who sets his mind. Global DRAM Pricing for a good hand, how to control the "heart" capability, and its importance far more than how to use "brain" abilities. Global DRAM Pricing hand if the price was affected by the sharp fluctuations, can not help but have a kind of the impulse to operate according to plan, led by price, it is "set parade hand," rather than Global DRAM Pricing hand. Global DRAM Pricing excellent hands is the Maijiumai not to buy will not buy, how much to buy of the number bought, but earned a joy and sorrow paid However, earned understand that the compensable in the clear, calm, as usual.

Only one to overcome various difficulties and hardships, after Qianchuibailan wipe out the stubborn, hesitant, like confidence, and other impurities from the Chizizhixin can "see mountains are mountains, the water is water" and "heart like a pendulum Xu wind", automatically entered in the success of the hall

Private Fund

2008-03-25T18:43:00.000-07:00

Private Fund
Chinese "private fund" in some foreign countries Code and English Dictionary contains no corresponding word.

Private (private placement) relative to the Public Offering (public offering), is the issuance of securities on the method of difference, and whether or not specific to the community public issue or not issue public securities distinction, defined as a Public Offering and private, or private equity securities and Public Offering . Fund (fund), as a collection of investment management expert system, in foreign countries, from different perspectives classification, dozens of fund name, such as by organizational forms division, the lease funds, corporate funds set up by means of , a closed fund, and the open funds, according to investment division, equity funds, money market funds, options funds, real estate funds, etc.; another division from the other perspective, growth funds, offshore funds, an umbrella fund , funds and so on. But search of these funds name of the "private" and "the Fund" one of the official documents for the "private fund" (privately offered fund) English word is not found.

In China recently, the financial markets often said that the "private fund" or "underground Fund," often refers to in relation to the supervision of the competent government departments, not specific to the person who publicly issued investment certificates benefit from the securities investment fund, is a non - publicized, the specific private investors to raise funds for investment in a pool. There are two basic way, commissioned by the First signed investment contracts based on the contractual set of investment funds, and the second is based on the establishment of joint venture shares of the Company shares set of investment funds.

First, private equity fund through private fund-raising. Secondly, in the collection object, the object of private equity fund only a small number of specific investors, a small circle is not low threshold. Third, and the Public Offering strict information disclosure requirements are different, private equity fund these demands much lower, and the government regulation were also more relaxed, private equity funds, the investment of more subtle, more flexible operation, the corresponding high income opportunities for greater returns.

What is a private fund?

The so-called private equity fund, is through non-public way, and the small number of institutional investors and raise funds to set up the fund. As private equity fund sales and redemption through private fund managers and investors to carry out consultations, and it was therefore called to the specific targets to raise funds.

And the closure of the Fund, an open-end fund, and other funds Public Offering compared private equity fund has very distinct characteristics, it is precisely these characteristics with the Public Offering unmatched advantages.

First, private equity fund through private fund-raising. In the United States, mutual funds and pension funds, and so on Public Offering Fund, the general public through media advertising to attract customers, and according to relevant regulations, private funds are not allowed to use any media advertising, which was attended mainly by the so-called "investment reliable sources ", or direct knowledge in the form of fund managers to join.

Secondly, in the collection object, the object of private equity fund only a small number of specific investors, a small circle is not low threshold. In the United States, the participants hedge funds have very strict requirements: If personal capacity, the last two years at least in the personal income 200,000 US dollars more than if the family name to participate in family income over the past two years at least 30 million dollars more than if the name participate in the institutions, at least in its net assets of more than 1 million US dollars, but the number of participants also have the corresponding restrictions. Therefore, the private equity fund targeting strong investment objectives, it's more for the middle class investors tailored investment services products.

Third, and the Public Offering strict information disclosure requirements are different, private equity fund these demands much lower, and the government regulation were also more relaxed, private equity funds, the investment of more subtle, more flexible operation, the corresponding high income opportunities for greater returns.

In addition, the private equity fund a notable characteristic is the sponsor, the manager must take its own investment fund management company, the operation of the Fund and the success or otherwise of their own interests closely related. At present from the international common practice, the fund managers have to hold the general fund of 3% - 5% of the shares in the event of a loss, managers owned shares will be the first to be used to pay the participants, therefore, the sponsor of Private Fund , the manager of the Fund is a close, and sharing weal and woe the interests of the Community, to a certain extent, can solve the inherent Public Offering Fund managers weakening interest restraints, such as lack of incentive mechanism defects.

Public Offering (Public offering), which is openly raising. Open the meaning is twofold: First, to advertise, to understand and do not know all the people raising. The second is to raise the number of objects more, for example, generally defined as 200 or more.

Private Placement (Private Placement), which is private placement or private placements. As private means: First, not advertising. Secondly, only to the specific object placement. The so-called specific targets have two meanings, first, that the other side has some relatively wealthy risk control ability, and the second is that the other party is a specific industry or specific categories of people or institutions. Third, the private placement of general relatively small number of objects, for example, 200 people following.

In China, usually, the private equity fund (Privately Offered Fund) is a means of a few private investors (closed) to raise funds and the establishment and operation of investment funds.
Private Fund's advantages:

1. More targeted products. The private equity fund is to raise a small number of specific targets, and therefore their investment objectives more focused, more likely to customers tailor-made investment services products, the risk portfolio to meet customer receipts of special investment requirements.
2. Style of the more easily. As private equity fund higher threshold for the entry of major investors in the face of a more rational, similar to the relationship between the two partners, the Fund's management made less by the open-end fund as the troubled at redemption. Only fund managers like Warren Buffett, as the concept of giving full play to their own advantages to obtain long-term stability of excess profits. (Source: Network Fund entry: http://www.jijinjingzhi8.cn)
3. A higher rate of return. This is the vitality of private funds, and is also beyond the common fund. As fund managers dutifully more consistent, better space Practice investment philosophy, but not as regularly as the Public Offering detailed disclosure of the investment portfolio, but a higher rate of return on investments.
It is precisely because of these characteristics, private equity fund in the international financial markets occupy an important position, but also nurtured like George Soros, Warren Buffett's investment this Masters.

This shows the characteristics of private equity funds:

First, private equity fund is a special kind of investment funds, mainly in relation to the case of the Fund Public Offering;

Second, the private equity fund is generally in the "coterie," (only for specific minority investors) to raise funds;

Third, the private equity fund sales, and withdrawal of operation of private consultations with the private sector and rely on the confidence between the characteristics;

Fourth, the private equity fund investments are usually higher starting point, whether natural or legal persons and other organizations are generally required to have specific scale property;

Fifth, private funds should not be used to open the general media advertising, that is not open to attract and attract investors;

Sixth, private funds sponsors, fund managers will normally to its own funds for investment, thus interests tied, sharing risks, and benefit-sharing mechanisms;

Seventh, the private equity fund relatively relaxed regulatory environment, namely, the Government does not usually its strict control;

Eighth, the private equity fund of information disclosure requirements do not strictly;

Ninth, private equity fund higher degree of confidentiality;

10, private equity fund more rapid response, a very flexible space to operate;

11, private equity fund relatively high return on investment (that is, the probability of high-yield relatively large);

12, other.

Shadow stock

2008-03-25T06:01:00.000-07:00

Stock definition

Refers to the so-called shadow stock and shares in the same industry or have the same types of listed companies. General, and the shadow of the IPO shares have substantial increases. Many investment / machine in the two weeks before the IPO prospectus will be buy such stocks, income is still quite good. such as the current high-priced shares of the first cities Zhangzi Island (002,069) purchased a good headed prior to listing (600,467, and 10 sent 10 subjects) to 30-40% of the basic receipts. early August in the number of strokes will issue H-shares its A-shares before intervention (600036, I have a long-term portfolio disclosure), the present book receipts have nearly 40 percent. course is more optimistic about my personal best efficiency Bank development prospects, and this is "really the shadow" of the stock!

Features stock

In general, and the shadow of the IPO shares have substantial increases. Many investment (machine) in the two weeks before the IPO prospectus will buy such stocks, income is still quite good. For example, at present the first high-priced shares of the two cities Zhangzi Island (002,069) purchased a good headed prior to listing (600,467, and 10 sent 10 subjects) basically 30-40% of the proceeds. Of course, the shadow of the stock not only suitable for Duanchao greed, and generally enthusiastic response IPO prospectus will stimulate related shares rose, but prior to listing a number of large funds from the same type of funds out of equities in the pursuit of new shares, the best option listed two days ago sell. (Statement: dengan only in the stock, for example, does not constitute a sale of investments recommended!)
Notes

Duanchao stock shadow not only suitable for greed, and generally enthusiastic response IPO prospectus will stimulate related shares rose, but prior to listing a number of large funds from the same type of funds out of equities in the pursuit of new shares, so the best option to sell the listing two days ago.
Focus example

Impact on the performance of the airlines operating there are three key factors: First, industry capacity supply and demand, the price level is the CAO, and the third is the RMB exchange rate. These three factors are present at the same time to the benefit of airlines direction. The appreciation of the renminbi is expected to let the market imagination. Under such circumstances, the recent significant rise airline stocks, Air China, China Southern Airlines, and so has peaked again and again, and to aircraft maintenance to the main business Hite high (002023) due to the rapid development of the aviation industry and with extraordinary potential, Development should be looking forward to late!
Hite high (002023) is the only one in Shanghai and Shenzhen cities listed aircraft maintenance company, is the largest, most powerful, most market coverage of the professionalization of the Airborne Equipment Maintenance Enterprises, China is vigorously developing aviation industry, the large number of aircraft orders from overseas, the follow-up several times the increase in maintenance business will be strong support for the development of high-speed performance of the company. And the continuous appreciation of the renminbi and the sustained fall in international oil prices, but also on the development of China's aviation industry constitute the most direct positive role in promoting. In the near future, the Chinese government ordered a number of countries to the many new civil aircraft, and later fly the aircraft will be more and more! Of course, this is one of the most benefit from foreign-made aircraft businesses, but then turn on the repair of the aircraft. The reason is very simple, aircraft flying is the most important? Security is of course a day when thousands of aircraft landed safely from one place to another place in time, apart from the pilot superb technology, the more shows that the aviation Maintenance an important protective role. So as escorting aircraft for the domestic aviation maintenance industry leading Hite high (002023), will be faced with many times than before the repair industry business opportunities, natural growth is expected performance!
From the industrial sector, China's civil aviation industry of transport aircraft by the end of 2000 the number of 527, to the end of 2005 863, a net increase of 336-I. Xinhuanet reports: National Air Transport aircraft in 2010 will reach nearly 1,600, in 2020 to 4000. The rapid growth of the air transport market for aviation maintenance at the same time bring tremendous market opportunities force. Together with the Civil Aviation Administration of China as early as in 2004 issued a document: foreign investment, such as private operators can enter the main civilian air transport market. 2004-2005 has approved Okay, the United Eagle, Spring, and other airlines operating capital to set up and put into operation. Another Western, Eastern Star, the Eastern Express Line, the Northeast, the public seven, eight airlines have been approved construction. These airlines to take more low-cost, professional road repair operations to maintain a form of outsourcing services for independent maintenance companies to provide new areas of development. As the level of development of China's aviation and abroad there is a big gap, before almost all are sent abroad to repair not only a long life cycle, and the high cost, high-tech since the Hite represented by the maintenance of domestic enterprises to start and expand, breaking the developed countries especially in the aviation maintenance repair technical equipment of the monopoly of the same components maintenance costs significantly lower than abroad, sent abroad each year decline in the proportion of maintenance, air transport enterprises significantly reduce maintenance costs. Aviation Maintenance is divided into three segments, including airborne equipment maintenance, body aircraft maintenance and engine repair. 2002 China's aviation maintenance market capacity is 88 million, of which domestic maintenance amount to about 32%, or about 2.8 billion yuan (airborne equipment, engines, body repair capacity of 1.12 billion yuan, 360 million yuan, 13.2 billion). Airborne equipment maintenance in the domestic market, Hite high and the market share of Xian Xiang-yu were ranked first and third, Hite high in 2005 will be incorporated into its competitors Xian Xiang-yu, which strengthened its dominant position. At present aircraft engines in the country for service in smaller market space is so great that people will be happy is Hite made PTA6 engine maintenance permit, the next two years is expected to produce benefits. Apart from regional aircraft, the company also entered the helicopters and executive jet engine maintenance market, enjoy machine repair industry is huge business opportunities!
To sum up, it is the domestic aviation maintenance industry leader, is the largest, most powerful, the market coverage of the professionalization of the most widely Airborne Equipment maintenance companies. Is China's first obtain a permit maintenance of the Civil Aviation Administration of private enterprise aviation maintenance, repair capabilities covering Shanghai Airlines Boeing series aircraft, accounting for Shanghai Airlines for service parts of about 80%. At present aviation maintenance industry has become one of the civil aviation industry in the new profit growth point. According to statistics, at present, the world annual aviation maintenance in the value of around 30 billion US dollars, and the current year for China's civil aviation aircraft maintenance costs over 2 billion US dollars. The aircraft maintenance industry a huge market and profits, the company's future enormous potential for development.
Domestic aviation market is extremely optimistic about growth prospects, aviation maintenance market growth is also facing many opportunities, coupled with high barriers to entry, the level of profitability is substantial - Hite high gross margins as high as 52.41%, the company is expected to in the next two years to seize the market opportunity, the growth performance! 07 companies more than mid-year report showed that new investment fund intervention on the chip, a new stock funds accumulate shares, the late development worthy of attention.

Speculative mentality

2008-03-25T05:57:00.000-07:00

Six will lose money on the speculation

This paper discusses six common psychological effects of the stock market, namely the average error, "scapegoat" of the gamblers effect, the tendency of the least painful, not the rule of law and information infatuated with. These psychological effects of the only result is a loss to investors, if seen from the shadow of their own, then the best way is to remove it quickly.

Average error

Please do a test that, in the following four options, the choice that best suits your own one:

A, I highly sophisticated intellectual, far better than the majority of the people;
B, and my intelligence is not particularly good, but the middle-level;
C, my intelligence is relatively weak, which could be considered lower-middle-level;
D, I am very bad intellectual, far weaker than most people.

The vast majority of people will choose option B, since the overwhelming majority of the people are the middle-level intelligence, then what is the average level? Average fallacy lies in the fact that the majority of people will consider themselves higher than the average level in a survey, 82% of the people think that their own driving skills than the average level higher, it is clear that many of them are wrong. This fallacy more exaggerated in the stock market, because everyone bought shares that they are able to earn money, no one will believe that he will lose money again to invest in stocks, and the majority of their profits are expected to outperform market In fact even the majority of funds failed to outperform market.

Overly self-confident people who would normally frequent performance for the transaction, when the buy sell, they have access to information on the accuracy as well as their own judgement are very confident, economists had studied specialized brokerage accounts household data, they found that higher trading volume and could not generate a higher return, in fact frequent trading of lower average returns, because they regarded profit contribution to the commission and stamp duty.

"Scapegoat" effect
In the stock market, the best scapegoat is the so-called "Makers", as long as the loss of any money that bookmakers too bad, bookmakers too cunning, it seems that this will be able to reduce their own responsibility. In fact this did not Makers said that, in Dow Theory assumptions, we have already discussed this point, may be found in previous articles, not repeat them here.

Also reflected in the scapegoat, if a person bought a stock, and then the market fell, he said to himself: I did not buy the wrong stocks, but the general trend in itself bad, it is not my problem, because the other stocks also dropped. So he stops time and again to give up, the final loss would be much Bixiangxiangzhong large.

Gamblers effect

In the casino, under which the most vulnerable gamblers big injection? The answer is two, one is already making a lot of money gamblers; the other is a lot of money has been a loss of gamblers. The former thought: Since I have already earned a lot of money, that I am very good luck, or I am particularly clever, but, since the money was earned even though some also Kuidiao okay. Because he seems to be playing other people's money, not his own money, so more easily under the Note. The latter thought: I have so much money, if not Fanben approach, it really light losses, so I would also like to bet on any event, but also on more pressure, so I can Fanben hope.

The most harmful Fanben idea is the idea, the deficit has been a lot of friends most of the loss, but also think about the final point all capital boost pressure, and the results did not suspense, in addition to more losses will not be any other result. Members of the Futures Exchange have been done a survey, they found that all of the people lose money in the morning and afternoon is more of a gamble, but the results are most Yude more.

If a gambler to win or lose a lot of a lot means that he has been bogged down in this fastidious, and the small profit or a small detached lose much of the people, so the people who were trapped often thought: If the shares rebound I to the purchase price, I will sell well, no longer playing a game.

Tend to minimize pain

Tend to minimize suffering relatively simple, all in the bottom Gerou of the investors have the tendency to such an interesting, or not throwing, once in a day will have to throw all of the losses were to throw stock, usually 10 minutes all within a polishing. Ask a secure unit because not exciting things, if there are five secure-on-hand stock, dished out five points, it also means suffering, there were five. If one day, trapped within a five shares all polishing, then only one suffering, the suffering of the latter is obviously much smaller. If the majority of people are on the market think so, then this day is the day sharply plummeted.

The law does not rule

Russian physiologist Bafuluofu made a famous conditioned reflex experiments, in Pakistan's first experiment rattles give the dog food, dog food will be saliva secretion, so repeatedly. Thereafter, as long as the dog hear voices 1-2 seconds after the start saliva secretion, and it has the ring linked to the food. This experiment many people are aware, there is no wonder the. Here I would like to introduce the other is a conditioned reflex.

Harvard University psychologists Skinner (BFSkinner) made a feeding pigeons on to the experiment. He completely random way to feeding pigeons, after a period of time, he found amazing things, these pigeons has turned into a "crazy." Some pigeons will be facing a specific direction shaking his head, and kept some of the old anti-clockwise, somewhat like the general Zhonglexie dance. Pigeons are slowly because each developed their own conditioned reflex system, seems to think that so long as we continually repeat an act, we will get food, in fact, be truly food, so this act has been further strengthened.

In human society, similar to the phenomenon of an endless stream, everyone is a bit small and superstition, for example, take care not to walk the dog feces stepped will said to myself: ominous! So one day in fear of the wretched, is not encountered slightly smooth things will be said: Aya, indeed fulfilled! This is in the stock market, particularly, a person get up in the morning and found eyelid in the jump, I thought Is today or? Open really dropped after that, then quickly sold, as always in the stock market fluctuations, or if he should be considered, it will be down. It also strengthened his original idea that dancing is definitely not a good thing eyelid.

All of a senior intelligence, the brain is that the original design in order to find a law, and extract the simple laws. For example, do not eat cooked food vulnerable to parasites, red apple is a sweet, bitter all the best things quickly Tudiao and so on. These simple rules are basically correct, it is because these laws are behind the logic is quite simple, but the problem is once encountered a very complicated matter in trouble. Pigeons will not think of dreaming, they still will face this abnormal psychologist, would be fed a random manner, which no law can be, but biological instinct is to go to find the law and then develop a respective sets of strange behaviour. The same is true of our humanity, the complexity of the stock market Change far more than we encounter in life anything can, so each of us is also developing a strange superstition. For example, a certain stage in the stock market will be even garbage stocks rose to heaven, but great gains, so some people summed up, buying stocks on the losers should refuse to buy the "truths", this can be a really Wuheaizai. This also proves one thing, the human brain naturally variable problems and their failure to do more thinking, as long as more than one variable, we immediately confused, and this is the significance of the research, the complex world refined into simple theorem.

Enamored of information
Suffering from information infatuated with the people of interest to all information, whether it is hearsay companies, the Government Notice, terrorist attacks, the killing of Saddam Hussein and so on, that all the news will affect share prices to some extent, and indeed shares in the daily fluctuations, it really looks to the impact of the stock. Information infatuated with the disease are often arbitrary increase irresponsible media, because the media is the rice bowls of information on trafficking from, he will竭力any information that is valuable to some extent, is the so-called double the Wangpo can only say that their own melon sweet. This inverted Fortunately, I am afraid of the media in order to attract eyeballs deliberately distorted news, in the modern society that seems to have become a common phenomenon that a person is obviously means, the media quoted out of context to immediately become the opposite meaning. If investors are concerned about such information Narita, it must be to play in the round, the news is often done in accordance with a decision, then that the news is false, the media began later dismissed. For the media, this strategy is pretty good, at least twice attract your eye, but you wrong information because Yunuo money, the media may responsible for compensation. Because the media always likes preference comment on current affairs, the media tend to exaggerate the market usually dominated the wrong mood, for example, in a bear market bottom is the most pessimistic about the media, and in the top of the bull market in the media is the most optimistic. This phenomenon perhaps, ancient and modern.

Especially when we entered the information age, access to information incredible low cost, the vast majority of all information is noise or spam, Narita listen to the noise, and sooner or later will be their ears to engage broken. In fact truly useful information as long as 12 would be sufficient. But it is difficult to be difficult in the complicated information from the ocean to find that two useful information.

Fund

2008-03-25T05:52:00.000-07:00

Definition
Fund of the broad and narrow, a broad sense, the fund is referred to institutional investors, including investment trust funds, unit trust funds, provident funds, insurance funds, pension funds, foundations fund. On the existing funds in the securities market, including closed-end funds and open-end fund, with receipts of value-added features and the characteristics of potential. Dialysis from an accounting perspective, the Fund is a narrower concept, which refers to a specific purpose and use of funds. It is because the Government and institutions of the investor does not require investment returns and investment recovery, but demanded by the law or the will of the investor funds to the designated purposes, and the formation of the Fund.
We now say that the fund usually refers securities investment funds.
Securities Investment Fund
Securities investment funds is through the sale of fund shares, many investors will be the funds together to form the independent assets from the trust fund trustees, fund managers and management to portfolio approach to portfolio investment interests of a shared risk the shared investment pool.
Securities investment funds is a form of indirect investment securities. Fund management company through the issuance of fund units, and concentrate investor funds from the trust fund (or a qualified banks) hosted by the management and use of fund managers funds, in stocks, bonds and other financial instruments investment, and then sharing the investment risk , and revenue-sharing. According to different standards, securities investment funds can be divided into different categories:
Whether the Fund can increase or redemption of units can be divided into open-end funds and closed-end funds. Open-end funds not listed transactions, the general purchase and redemption through banks, fund size is not fixed; closed-end funds have a fixed deposit renewal of the fund during the fixed scale, usually in the places listed securities trading transactions, secondary market investors through the sale of Fund units.
Securities investment funds in the United States called the "Common Fund", the United Kingdom and China's Hong Kong Special Administrative Region known as the "unit trusts", Japan and China's Taiwan region said the "Securities Investment Trust Fund."
Securities investment funds is a benefit-sharing, risk-sharing pool to invest in securities investment, that is, through the issuance of fund units, and concentrate investor funds from the trust fund trustees (generally reputable banks), by the Fund the administrator (that is, the fund management company) management and use of funds, in stocks, bonds and other financial instruments for investment. Securities fund investors enjoy the return on investment, and investment losses due to assume the risk. China's Fund are temporarily lease funds, the Trust is a kind of investment.
Investment Fund General Fund invests primarily blue chip market, while the Topix index calculation, market blue chips also accounted for a lot of weight, so the Fund's decline, the stock market rose and fell on the Topix index gained up with the general or with the relationship.
But specific to the different funds have different, and some funds on the Shanghai Stock Index Change and closely related, but some fund Change and the Topix index related low, and even some in the fund when the Pantu also rose, That depends on what the stock fund holders of a specific investment funds originated in the United Kingdom, is prevalent in the United States. After the First World War, the United States replaced the United Kingdom to become the new overlord of the world economy, jumped from a capital-importing country to a major capital-exporting countries. With the economy running substantial growth, increasing complexity of the economic activities have resulted in some investors increasingly difficult to judge economic trends. In order to effectively promote the foreign trade and foreign investment, the United States began to introduce investment trust fund system. 1926, Boston, Massachusetts financial services company has set up a "Massachusetts investment trust," became the first of a modern face of the mutual funds. In the subsequent years, the fund in the United States has experienced a period of brilliance. To the late 1920s, all closed-end funds total assets had reached 2.8 billion US dollars, and the open fund only the total assets of 140 million US dollars, but the latter both in quantity and in the growth rate of total assets is higher than closed Fund. 20 of the annual total assets have more than 20 per cent growth in 1927 growth rates of over 100%.
However, investors in the United States immersed in "the eternal prosperity" in the optimism, the 1929 global stock market crash, the rise of the United States just to the fund industry suffered a heavy blow. With the global economic slump, most of the investment company failed, the remaining can not last. But comparatively speaking, the loss of closed-end funds than open-end funds. The financial crisis has made the United States the total assets of investment funds dropped by around 50 percent. Since then the entire 1930s, the securities industry is at a low ebb state. Faced with the Great Depression of the shortage of funds and low industrial productivity, people lose confidence in investing, coupled with the outbreak of World War II, investment fund industry was hesitant.
After the crisis, the United States Government to protect the interests of investors, developed in 1933 the "Securities Act" and 1934's "Securities Exchange Act", and later developed specifically for the investment funds in 1940 "Investment Company Law" and "investment advisers law . " "Investment Company Law," detailed specifications of the investment fund management and the legal requirements, provide investors with a complete legal protection for future investment funds and the rapid development of a good legal basis.
After World War II, the United States economic recovery strong growth momentum, investor confidence will soon recover. Investment funds in the strict legal protection, especially open-end fund is once again active fund size increased year by year. After entering the 1970s, the United States investment funds and the outbreak of growth. In 1974-1987 13 years, the scale of investment funds from 64 billion US dollars to 700 billion US dollars. At the same time, the United States has broken through the fund industry for more than 50 years, only to invest in common shares and the limitations of corporate bonds in 1971 launched money market funds and federal funds; 1977 began a long-term municipal bond funds and bond funds; first appeared in 1979 tax-free money fund in 1986 launched the international bond funds. To the end of 1987, the United States there are more than 2,000 kinds of different funds for the nearly 25 million held by the person. Because many kinds of investment funds, investment funds focused on decentralization, in the 1987 stock market crash period, the United States investment funds did not reduce the total assets, and an increase in the number.
In the early 1990s, the United States stock market in the new injection of capital from about 80% of the Fund, in 1992, this proportion had reached 96 per cent. From 1988 to 1992, the United States shares the total proportion of investment funds held by the sharp rise 5% to 35%. By 1993, the New York Stock Exchange, the personal investment accounts for only 20% of the market capitalization, and the fund accounted for 55 per cent. As of the end of 1997, there are around 7.5 trillion US dollars of the Fund's assets, including the assets of the Fund size of the United States about 4 trillion US dollars, the commercial banks has surpassed the United States the total amount of savings deposits. From 1990 to 1996, investment funds growth rate of 218%. In the meantime, more and more capital with huge institutional investors, including banks of the trust, trust companies, insurance companies, pension funds or foundations, as well as the consortium, began investing heavily in investment funds. Currently, the United States has become the world's fund industry the most developed countries.
Features

And stocks, bonds, fixed deposits, foreign exchange and other investment instruments, securities investment funds also provide investors with an investment channels. Well, compared to other investment instruments, securities investment funds, which have characteristics?
(1) collection management, professional management.
The Fund will focus on the funds for many investors, fund managers conducted jointly commissioned, showing the characteristics of a financial pool. Through the pooling of funds for many investors, add up, that will help fund the scale advantages of lower cost of the investment. By fund managers and fund management and investment operation. Fund managers generally have a large number of professional investment researchers and powerful information network is better able to carry out all of the securities markets, dynamic tracking and analysis. Fund managers will be handed over to the management of funds to small and medium-sized investors can enjoy professional investment management services.
(2) portfolio investment, spread the risks.
To reduce investment risks, China, "the Securities Investment Fund Law," provides that the Fund must take the form of portfolio investment in the Fund's investment operation, so that "portfolio investment, diversify risk" has become a feature of the Fund. "Portfolio risk diversification," the scientific study has been proved by modern investment, small and medium-sized investors because of a small amount of funding, generally not through the purchase of shares of different spread the investment risks. Fund usually buy dozens or even hundreds of stocks, investors to buy fund equivalent with very little funds for the purchase of a basket of stocks, some of the losses caused by the stock down other shares gained can be used to make up for profit. So we can fully enjoy the portfolio investment, the benefits of risk diversification.
(3) benefit-sharing, risk-sharing.
Fund investors is the owner of the Fund. Fund investors were taking risks, sharing proceeds. Fund investment income after deducting the costs borne by the Fund of all the surplus after all owned by the funds investors, and investors based on the proportion of shares held by the allocation of funds. Provide services for the Fund to fund trustees, fund managers can only be imposed by certain custodian fees, management fees, the Fund is not involved in the distribution of the proceeds.
(4) Strict monitoring, and information transparency.
To effectively protect the interests of investors and enhance investor confidence on the investments of the Fund, the China Securities Regulatory Commission on the fund industry to adopt more stringent regulation of all kinds of acts prejudicial to the interests of investors stringent enforcement, and the compulsion to fund more full disclosure of information. In such circumstances, strict supervision and transparency of information has also become one of the Fund's notable characteristics.
(5) an independent custodian, safety.
Fund managers responsible for the fund's investment operations, the Fund itself is not handling the custody of the property. Fund assets in custody by an independent fund trustees and fund managers accountable. Such restraint, and mutual supervision mechanism of checks and balances the interests of investors provide important protection.
Open-end fund
Open-end Fund (LOF), the English name is "Listed Open-Ended Fund" or "open-end funds", Chinese called "listed open-end funds," also known as the Common Fund abroad. Is listed open-end funds issue after investors can purchase in the designated outlets and redemption of fund shares, also in the Exchange Traded Fund. But if investors in the funds designated outlets requisitioning share dished out to the Internet, subject to certain formalities to the Trusteeship Council the same, if it is in the Exchange Fund to buy online share in the designated outlets to redemption, but also for certain procedures to the Trusteeship Council.
Is a variable distribution of the Fund share (units) of the total number may at any time change, the Fund can offer investors in the fund managers designated place of business purchase or redemption of the fund. Compared with the closed-end funds, open-end funds is not restricted to the amounts, the sale price to the net assets, is on sale at the counter and risk characteristics of a relatively small, particularly suited to small and medium-sized investors to invest.
World history of the development of the Fund from closed-end funds to open-end funds in history. Fund market most mature example of the United States. In September 1990, the United States opened a total of 3,000 funds, assets worth 1 trillion US dollars, while only 250 closed-end funds, the total assets of 60 billion US dollars. By 1996, the United States open-end fund assets of 35,392 billion dollars, closed-end funds assets only 1,285 billion dollars, the ratio of two to 27.54:1 while in 1940, the ratio was only 0.73 Taken : 1. In Japan, in 1990 before accounting for the vast majority of closed-end funds, open-end funds in a subordinate position, but in the late 1990s there has been a fundamental change, open-end funds to closed-end fund assets is about twice as assets.
In Hong Kong, Thailand, Taiwan, Singapore, the Philippines, the Asian Development Investment Fund earlier countries and regions, it is the beginning of the development of closed-end funds mainly gradual transition to the current form of the coexistence of two phases. From a global perspective, the 1990 World open-ended investment fund net assets amounted to 23,554 billion dollars, in 1995 has risen to 53,407 billion dollars.
Open-end fund has gradually become the mainstream of the World Investment Fund.
Countries in the world investment funds at the start of the mostly closed. This is because in the early stages of development investment funds, closed-end funds trading redemption fees than open-end fund share of the fees low. From the fund management point of view, because the request did not benefit from the redemption certificate pressure, investors can make full use of the funds to implement its investment strategy in order to maximize the benefits.
Open-end funds and closed-end funds constitute a common fund two basic mode of operation. Open-end fund asset size is not fixed, can purchase and redemption; do not have renewal, in theory, can never exist; not listed, through consignment agencies and direct sales center transaction price decided by the net asset value. Units can be sold to investors at any time, can also be bought back investors demand mode of operation. Closed-end funds and the scale of fixed assets; survival time fixed in the listed price decided by the relationship between supply and demand, the Fund will affect the prices of the net, but the two are not uniform, closed-end funds usually trade to discount more. Open-end fund operation of the Fund is the world one of the basic form. Fund management companies can be sold to investors at a new fund units, and investors should be ready to buy back the request of the holder of the fund units. At present, open-end funds have become the mainstream of the international fund market varieties, the United States, the United Kingdom, China's Hong Kong and Taiwan funds have more than 90 percent of the market is an open-end fund.
Closed-End Fund
Belong to the Trust Fund, the fund size is determined in the issue before the end of the issue within the set time period fixed in the stock market transactions and investment funds.
Because closed-end funds trading on the Stock Exchange to bid approach, transaction prices by market supply and demand relationship and does not necessarily reflect the impact of the Fund's net asset value, that is, relative to its net asset value, closed-end funds have a premium price of the deal, Discount. The practice of closed-end funds abroad showed their trading prices tend to exist after the first premium discount of the price fluctuations. China's closed-end funds from the operational situation, regardless of how the fundamentals change, China's closed-end funds trading prices have always failed to separate from the first premium, after the discount price fluctuations law.
According to different forms of organizations can be divided into corporate funds and contract funds. Fund through the issuance of shares of the Fund set up investment funds in the form of the establishment of the company, commonly referred to as corporate funds by fund managers, fund trustees and investors through tripartite set up to fund contracts, often referred to as the lease funds. At present, China's securities investment funds are contractual funds.
Companies Fund
Also known as the Common Fund, the Fund refers to itself as a limited liability company, the company through the issuance of stocks or benefit vouchers way to raise funds. Investors to buy the company's shares, will become the company's shareholders, with dividends or stock dividends receive dividends, the investment share the benefits.
Features
1. Mutual funds, the form of joint-stock companies, but different from ordinary shares of the company, its business focus on the securities investment trust.
2. Common funds for corporate capital, or shares.
3. Structure of the Common Fund for the same general stock company, with the board of directors and shareholders. The company has assets of the Fund from investors is that the company's shareholders, the company's assets is the ultimate holders. Owned by its shareholders shares in the size of the General Assembly on the exercise of shareholder rights.
4. Based on the company charter, the Board of Trustees of the Fund has assets of the proliferation security responsibility. For easy management, mutual funds often set fund manager and custodian. Fund managers are responsible for the investment management of the Fund's assets, the trustees of the fund manager responsible for the oversight of investment activities awakened. Trusteeship Council can (to be) in open bank accounts in their own name for the assets of the Fund's registration. To clear the rights and obligations of both sides, mutual fund companies and trustees of a contractual relationship between the Trusteeship Council the duties specified in the Common Fund and he signed the "Trust Agreement". If a problem mutual funds, investors have the right to directly to the mutual fund company from.
Contract funds

Also known as unit trusts, investment refers to specialized institutions (banks and enterprises) a joint venture fund management companies, fund management companies and trustees as a client by signing the "Trust Deed" benefit certificate issued in the form of - "the Fund Permit holders of units "to the community to raise the idle funds.
Characteristics of the unit trust is a document called the Trust Deed and formed a company manager in the organizational structure, it does not form a board of directors, fund managers, as the company commissioned to set up their own funds, or hire their own managers took the management of the Fund's operations and operation, and usually designated a company or underwriting securities company to handle the beneficiary certificate - Fund-issued permit holders, the sale, transfer, trade, distribution of profits, receipts and reimbursement of the benefits paid.
Trustee of the fund managers commissioned by the company, and the trust or a trust company registered in the name of the fund and accounts. Fund accounts kept completely independent of the fund company's accounts, even though the fund custody because of poor management company closed down its creditors can use the assets of the Fund. Its function is responsible for the management, custody, disposal of the trust property, and supervision of investment fund managers, to ensure that the fund manager to comply with the disclosure statement as specified in the investment, so that they take the portfolio in line with the requirements of the Trust Deed. In unit trust funds when there is a problem, the Trust is responsible for the investors who claims responsibility.
According to the investment risks and benefits of different, can be divided into growth and income funds and balanced type.
According to the different investment can be divided into equity funds, bond funds, money market funds, futures funds, and so on.
Equity Fund

Equity funds for investment in stock investment funds, is the main types of investment funds. Equity Fund is the main function of the small investors will be focused on large capital investment. Investing in different equity portfolio, the stock market is the major institutional investors.
Categories stock investment funds by the target can be divided into preference shares and ordinary shares of the Fund the Fund, and the preferred stock funds can get a stable income. Less risk. The distribution of income is mainly dividends; ordinary shares of the Fund is the largest number of a fund, the fund in pursuit of capital gains and long-term capital appreciation for the purpose of risk than the preferred fund. Fund investment decentralized level can be divided into general equity funds ordinary shares funds and specialized funds, the former refers to the Fund's assets invested in various decentralized ordinary shares, the latter refers to the Fund's assets invested in some special industries stock, the greater risk, but may have better potential revenue gains. Fund the purpose of investment funds can also be divided into capital stock value funds, growth funds and income funds. Value-added capital investment the main purpose of the Fund is to seek capital rapid growth, bring capital to the value of such funds high-risk, high return. Growth Fund invests in those with growth potential and can generate revenue of common stock, with certain risks. Stock income funds invest in a stable development prospects of the stock issued by the company, and the pursuit of stable dividend distribution and capital gains, the small risk of such funds, income is not high.
Features
1. Compared with the other funds, stock funds, the investment target is diversity, a diversity of investment purpose.
2. Investors with direct investment in the stock market compared to equity funds has spread the risks. Features such as lower cost. To the general investors, individual capital is limited after all, it is difficult type of diversified investment through lower investment risks. However, investment in equity funds, investors can not only share the shares of various types of income, but has also been through investment in equity funds and will be distributed to all types of risk on the stock, greatly reduce investment risks. In addition. Investors to invest in the equity funds, can also enjoy large fund to invest in the relative cost advantages, lower investment costs and improve returns on investment, access to the benefits of economies of scale.
3. Asset liquidity, the stock fund flows are strong, and the characteristics of high liquidity. Stock fund flows of investment is an excellent stock, the high quality of the Fund's assets and liquidating easy.
4. Investors, equity funds operating stability, and lucrative. Generally speaking, the risk of stock funds than the low-risk equity investments. Thus more stable income. Not only that, after the listing of closed-end equity funds, investors can also be traded in the Stock Exchange trading post. After the expiration of the Fund, investors have the right to the distribution of surplus assets.
5. Equity funds also in the international market with the financing of functions and features. On the stock market, the degree of internationalization of capital than the foreign exchange market and the bond market lower. In general, the stock market is basically in their transactions, stock investors can only invest in their own shares or in the few local listing of the shares of foreign companies. Overseas, stock funds exceeded this limit, investors can buy stock funds to invest in other countries or regions of the stock market, the internationalization of the securities markets will have a positive role in promoting this. From the current situation of overseas stock markets, stock investment fund is a large part of the stock of foreign companies.
Money Market Fund

Money Market Fund is invested in short-term money market securities to a fund. The assets of the Fund invests mainly in short-term monetary instruments such as Treasury bills, commercial paper, bank certificates of deposit, short-term government bonds, corporate bonds and other short-term securities.
Money Market Fund was established in 1972 in the United States. To the end of 1986, the United States there are more than 400 money market funds, with total assets of more than 290 billion US dollars. In the United States, money market funds according to risk size can be divided into two types: ① Treasury money market funds, mainly to invest in Treasuries, secured by the Government and other securities. These securities maturities usually less than one year, an average maturity period of 120 days. ② diversified money market fund is what is commonly known as money market funds, usually invested in commercial paper, treasury bills, the United States Government agency issued securities, negotiable certificates of deposit, bank acceptance bills and other negotiable securities, and its mature time with the fund, similar to the foregoing. ③ tax Monetary Fund, mainly for short-term financing, the quality of the municipal securities, including municipal bonds and medium-term municipal bonds. The advantages of tax-free money funds can be tax relief, but usually higher than the money-market funds generally yield low (about 30% to 40%), the tax rate is not high when investors choose the fund and not cost-effective.
Money market funds compared with the traditional fund has the following characteristics: ① money market funds and other investment funds in equities main difference is that the net asset value of fund units to be fixed, usually one yuan for each fund units. Investing in the Fund, investors can make use of re-investment income, investment income on the accumulated increase investor-owned share of the funds. For example, certain investors to 100 yuan investment in a money market fund, the fund would have 100 units, l years later, if the return on investment is 8%, then the investors more than eight fund units, a total of 108 units value 108 yuan. ② money market funds measure performance standard is good or bad yield, and other funds to net asset value of different value-added profits. ③ good liquidity, capital safe. These characteristics mainly from the currency market is a low-risk, highly liquid market. At the same time, investors may not be time period from day restrictions, as may be necessary at any time transfer of fund units. 4. Low risk. Money market instruments with maturities are usually very short, money market funds, the average duration of the investment portfolio is generally four to six months, with less risk, their prices are usually only by the impact of market interest rates, low investment costs ⑤. Money market funds do not usually charge redemption fees, and their management costs are low, money market funds, the management fee for the Fund net asset value of about 0.25% to 1%, than the traditional fund management in the rate of 1% ~ 2.5 percent lower. 6. Money market funds are open-end funds. Money market funds are usually regarded as a no-risk or low-risk investment vehicle for short-term capital investment to accrue for the rainy day, particularly in the high interest rates, high inflation rate, securities decreased mobility and reliability is low, can from the loss of principal.
Bond Fund
As its name suggests bond funds invest in bonds as the main subject of the Common Fund, in addition to bonds, can still invest in financial bonds, repurchase of bonds, CDs, short-term bills, the overwhelming majority of open-end fund distribution patterns, and take not distribute profits, the legitimate tax savings. At present, most bond funds tend to attribute of the bond proceeds fund to get a stable interest-based, therefore, generally stable earnings growth.
(A) Transactions Guide bond funds and trading in the stock fund broadly similar. But costs different. In general, bond funds do not charge subscription fees or purchase, and redemption rates are lower, such as a bond fund, in a period of 30 days, receiving 0.1% of the redemption fee; a period of more than 30 , to waive redemption fees.
(B)
1, a low-risk, low income. As bond yields stable, the risks are also smaller compared with equity funds, bond funds but low-risk rate of return is not high.
2, a lower cost. As bond investment management managing complex than equity investments, bond fund management fees are relatively low.
3, income stability. Invest in regular bonds have interest returns, due also committed to debt service, and therefore the bond proceeds fund more stable.
4, pay attention to current receipts. ABF mainly seeking more current fixed income, compared to equity funds in terms of the lack of value-added potential, in not too much more suitable for adventure, the current stability of income for investors.

Compared to direct investment in bonds, investors in bond funds have the following advantages:
1, low risk. Bond Fund by pooling investor funds for different bond portfolio investment, individual investors can effectively reduce direct investment in bonds may face some risks.
2, the experts operate. With the growing diversity of types of bonds, bonds to retail investors to invest not only to study carefully issuer entities, to determine interest rate movements and other macroeconomic indicators are often insufficient, and investment in bond funds can be shared experts operating results.
3, strong liquidity. If investors to invest in non-negotiable bonds. Only maturity can be fulfilled, and indirectly through the bond funds invest in bonds, you can access high mobility, can be held at any time of the bond funds transfer or redemption.

(C) Bond Fund investment strategy
1, make sure your investments are correct if you buy bonds for the purpose of the Fund is to increase the stability of combinations, or obtain higher returns than cash, such a strategy is feasible. If you think you will not buy bond funds losses, it needs to consider this. Bond funds also have risks, especially in raising interest rates environment. The time when interest rates are up, bond prices will decline, the bond funds so that you may be a negative return. Particularly in the country, the majority of bond funds hold many convertible bonds, and some investment in a small number of stocks, especially shares of convertible bonds price volatility will increase the uncertainty of the return.
2, know your bond fund holders in order to avoid what some investment mistakes, you need to know before buying a bond fund to hold what. For ordinary bonds, the two basic elements of the sensitivity of interest rates and credit quality. Change the prices of bonds and interest rate movements into inverse relationship. When interest rates rise, bond prices will decline. To know that bond prices change to the net asset value of bond funds for the change in interest rates sensitive to what extent, duration can be used as indicators to measure. The longer the duration, bond fund net asset value of the interest changes more sensitive.
3, understanding Bond Fund Bond Fund credit on their credit bond investment credit rating. Investors can fund prospectuses through a better understanding of the investment bond credit rating which limit the Fund's investment portfolio through a better understanding of a bond's credit rating. The combination of domestic bond funds, investors also need to understand their investment in convertible bonds and the ratio of stock. Fund holders of a relatively large number of convertible bonds, can improve profitability, but also enlarge the risk. Convertible bonds because the price of the underlying shares by the joint impact of fluctuations than ordinary bonds. In particular focus on a large number of convertible bonds funds, the rate of return by the stock and convertible bonds market may be far greater than the impact of the bond market.
4, concussion, the risk management tools in 2007 exacerbated the stock market shocks. Investors in the selection of the equity fund, will have greater volatility. In such a market situation, good liquidity, low risk and the rate of return higher than the savings rate of the bond funds, investors can reduce the risk. The current market bond funds in the assets of more than 80 per cent are from treasury bonds, financial bonds and high-grade corporate debt credit composed of basic credit risk does not exist. Interest rate risk in good control, the net value of bond funds decreased the risk of a very small, very stable income. Therefore it is a good alternative to bank deposits fiscal varieties have catered to the soundness of our financial income residents low-risk demand. Of course, bond funds are not purely investment bonds, it is not capital preservation, the same risk of loss. It is far less than the investment risks of stock funds. This year, many stock fund investors feel that the stock market dropped too risky, through the transfer of funds, the transfer of funds to bond funds. Trust Fund Trust Fund, also called investment funds, is a kind of "benefit-sharing, risk sharing" investment pool: that companies through contracts or in the form of funds by issuing vouchers (such as receipts vouchers, and the units and fund shares, etc.) , the community will be the majority investor uncertainty is not matching the funds together to form a certain amount of trust assets, the investment by the specialized agencies by portfolio investment diversification principle, the benefits funded by investors from sharing ratio, and undertake corresponding risk of a set investment trust system.
Trust Fund features:
1. Investment pool
2. Management experts, experts operation
3. Portfolio investment, diversify risk
4. Asset management and asset custody of phase separation
5. Benefit-sharing, sharing risks
6. To purely for the purpose of investment
7. Strong liquidity.
Warrants Fund

Warrants Fund (WarrantFunds): This type of fund to invest in warrants, warrants based on a highly leveraged, high-risk product characteristics, this type of fund than the fluctuation in stock funds as a
Index Fund

Index Fund is a price index compiled in accordance with the principle of the securities portfolio Construction of a securities investment fund. Theoretically speaking, the operation of the fund index method is simple, as long as each of the securities in accordance with the proportion of the index purchase the corresponding proportion of the securities, can be long-term holders.
For a purely passive managed index funds, fund turnover rate and transaction costs are relatively low. Management fees also tending to the smallest. This fund will not be certain of the securities industry or excessive investment funds. It generally will not invest to maintain full market speculation. Of course, not all index funds are in strict conformity with these characteristics. Different is the nature of index fund will adopt a different investment strategy. At present there are index funds-and, Pu-feng, Tianyuan three index funds, index funds have the characteristics of "enhancing the index fund."

Buffett

2008-03-25T05:43:00.000-07:00

Warren Buffett experience

August 30, 1930, Warren Buffett was born in the United States Nebraska Spurs, Nebraska, Warren Buffett investment from the very consciousness, his favorite figures in the stock and the extent of far more than the family of any person. He is earning full stomachs, children, five-year-old at home when Baidenan peddle chewing gum. Slightly larger than small partner after he led the seizure wealthy Stadium used to golf, and then resell reselling business is in the fire. In high school, in addition to use after-school newsboy, he also will partner with partners billiards ball game rented to barber shop owner who earn quick money.
1941, we had just entered the 11-year-old, he Yuejuan Unit sea, the first to buy stock in his life.
1947, Warren Buffett entered the University of Pennsylvania to study finance and business management. But he learned professors have not satisfied the empty theory, Bucierbie after two years, was admitted to Columbia University to their financial system, imam investment in the well-known theory of Jurists Benjamin Graham. Subglottic in Graham, Buffett. Graham, the anti-speculation, and stands for the profit of enterprises, assets and future prospects and other factors to evaluate stocks. Professor Warren Buffett to his wealth of knowledge and know-how. Very talented Graham Buffett quickly became the proud protege.
Buffett 1950 for the Harvard University have been shut out.
In 1951, 21-year-old Buffett graduate studies, he received the highest A +.
In 1957, Buffett charge of the funds reached 300,000 US dollars, but rose to the end of 500,000 US dollars.
1962, Buffett's partner in the capital of 7.2 million US dollars, of which 1 million are Buffett personal. He was several corporate merger partner as a "Buffett Limited Partner." Minimum investment in the amount of 10 million dollars. China is a bit like the situation of private funds, or private investment company.
1964, Buffett's personal wealth to 4 million US dollars, at a time when he has been in charge of the funds up to 22 million US dollars.

Spring 1966, the United States bolstered the stock market, but Buffett has fidgety although his stock in the soaring, but found it difficult to find with his standard of a cheap stock. Although the stock market speculation crazy trip home to the speculation brought windfall, but Buffett has remained unmoved, because he thinks stock prices should be built on the growth of corporate performance rather than on the basis of speculation.
October 1967, Buffett charge of the funds reached 65 million US dollars.
1968, Buffett's shares in its history made the best results: an increase of 59 percent, while the Dow Jones index increased by only 9%. Buffett charge of the funds rose to 100 million, 4 million US dollars, of which there are Buffett's 25 million US dollars.
May 1968, when the stock market is in a paean, Buffett has informed the partners, he had to retreat. He then gradually cleared Buffett partners almost all the company's shares.
June 1969, and the stock market down, and gradually evolved into the stock market crash, in May 1970, each stock should be compared with the previous year decreased by 50%, or even more.
1970 1974, the United States stock market like a ball to vent the gas, not the slightest angry, persistent inflation and low economic growth, the United States has entered a "stagflation" period. However, the loss was secretly delighted that Buffett is unusual because he has seen billowing from the forthcoming financial resources ─ ─ he found too many cheap stocks.
In 1972, Buffett also locked in the industry, because he found a brand owned newspapers, like the one owned toll bridges, any visitors must leave the money to buy road. In 1973, he began secretly in the stock market nibbled "Boston Globe" and the "Washington Post", and his intervention to "Washington Post" profit increase, an annual average growth of 35 per cent. After 10 years, Buffett invested 10 million for the two billion dollar.
In 1980, he used 120 million US dollars to the price of 10.96 US dollars per share to buy 7% of the shares of Coca-Cola. To 1985, Coca-Cola changed its business strategy to begin disinvestments funds into beverage production. Its stock price has rose to 51.5 US dollars, up five times. As for making a number, the number will allow investors around the world speechless.
Buffett in 1992 to 74 dollars a purchased 435 million American high-tech defense industry companies - General Dynamics company's stock, the end of the year rose to 113 yuan shares. Buffett has in the six months before the 32,200 million stock has a value of 49,100 million dollars by the end of 1994 with 23 billion US dollars has developed into the Royal Berkshire Hathaway industry, it no longer is a spinning plant, It has become Buffett's huge investment Financial Group. From 1965-1994, the average annual stock Buffett's value-added 26.77%, higher than the Dow Jones industrial average nearly 17 percentage points. If the Who's 1965 Buffett's investment company 10,000 US dollars, then to 1994, he could have been 11.3 million US dollars in return, that is, if the 30 who chose to first Buffett will come to sit down at the wealth Rockets.
March 11, 2000, Buffett's Berkshire Hathaway Web site of the annual open letter - a heavy letter. Figures show that the President of the Warren Buffett of Berkshire Hathaway investment fund group, net income last year dropped by 45 per cent, from 2.83 billion US dollars fell to 1.557 billion US dollars. Berkshire Hathaway's A-share price dropped 20% last year, is the only one in 90 fell at the same time the book Berkshire Hathaway profit increased only 0.5 percent, far lower than the same period the Standard & Poor's 21% growth in 1980 Since the first backward.
March 1, 2007 night, "Share God" unit of Warren Buffett's investment flagship company - Berkshire Hathaway Hasawei (Berkshire Hathaway) released its fiscal 2006 results, statistics show that, Hurricane benefit from the "Shuangdi", the company's main insurance business profitable results, Berkshire Hathaway company profit last year grew by 29.2 per cent, profit amounted to 11.02 billion US dollars (over the same period in 2005 of 8.53 billion US dollars) for each Unit profit 7,144 US dollars (2005 to 5338 US dollars).
1965-2006, the 42, Berkshire Hathaway's net assets with an annual growth rate of 21.4% cumulative growth of 361,156% During the same period the Standard & Poor's 500 index components company's average annual growth rate of 10.4%, and total growth rate for 6479 %.
March 1, 2007, the company Berkshire Hathaway A shares rose 410 US dollars, to 106,600 US dollars. Berkshire Hathaway A shares last year rose 23%, in contrast, the S & P 500 Index constituent stocks or stock average only 9%.
Buffett is the greatest investment ever home, he relies on the stock and foreign exchange markets and investment become one of the world's billionaires. He championed the value of investment theory sweeping the world. Value investing is not complicated, Buffett has been attributed to its three points: the stock as many micro-business unit; to market fluctuations as your friend rather than the enemy (sometimes profit from the blind adherence to a friend); Buy stock price should be lower than the price you can bear. "In the short term, the market is a voting calculator. But in the long run, it is a weighing device" - in fact, is not difficult to grasp these concepts, but very few people can be as few as 10 years if a Buffett , and stick to it. Buffett never seems to be trying to make money through stocks, he bought shares based on: Suppose the stock market closed the next day, or within five years no longer re-opened. Appears in the value of investment theory, to see if the market fluctuations that profitable, and has become a speculative investment, nothing more than a gambling mentality affect investments. "

Buffett on June 25, 2006 announced that he would donate the total amount of 37 billion US dollars of private wealth into charitable causes. This will be huge money into the world's richest man, Microsoft Chairman Bill Gates Foundation, as well as the creation of the Buffett family charitable foundations. Buffett donation of 37 billion US dollars so far in the United States is the largest private charitable donations.
According to a Reuters report, Berkshire Hathaway - Hathaway CEO Warren Buffett's investment company, 75 years old, "Forbes" magazine estimated he was worth to 62 billion US dollars, is the world's richest man. 37 billion yuan, the extent of Buffett property accounted for about 60 per cent.
Buffett wrote in a Bill and Melinda Gates Foundation said in the letter that he will donate 10 million shares of Berkshire Hathaway stock company of B shares, according to market value, equivalent to cover Buffett Mainz Fund donated 30 billion US dollars.
Gates Foundation said in a statement: "We have our friend Warren Buffett's decision flattered. Chose him to the Bill & Melinda Gates Foundation to donate most of his wealth to solve the world The most challenging problem of inequality. "
In addition, Buffett will be created for the late wife of charitable funds donated 100 million shares to his three children, while the charitable funds donated 35 million shares.
Not long ago, Gates has just announced that he will be gradually handed over his two years in Microsoft's day-to-day management responsibilities, devoted to the work of the Gates Foundation. Gates Foundation's total assets had reached 30 billion US dollars at present. The Foundation is committed to helping developing countries, the United States and the development of the cause of medical education.

March 6, 2008, "Forbes" magazine released the latest list of the world's richest people, as Buffett's stock soared, assets soared from 10 to 62 billion US dollars, won the world's richest man, Mexico telecom Hensley Alem to 60 billion US dollars in second place, 13 reelection as the richest man in the title Microsoft Chairman Bill Gates relegated to the third.

Buffett investment "pot of gold" law

A foolish use of the market, with regular investment.
The decision to return the purchase price level, even long-term investment as well.
Compound growth of profits and transaction costs, investment tax benefit endless.
Do not care about the coming year, the company earns a certain number, as long as the care of their next five to 10 years the number is going.
Only invest in the future companies with high earnings certainty.
Inflation is the greatest enemy of investors.
Value-and growth-oriented investment philosophy are interlinked. Is the value of an investment in future cash flows discounted value, and growth is forecast to be used in determining the value of the process.
Investors and the financial success of his investment enterprises proportional to the degree of understanding.
"Marginal safety" from the following two aspects to your investment. First is the buffer price risks may be followed by the availability of relatively high interest rate of return.
With a stock and look forward to its next week on the rise, is very foolish.
Even Federal Reserve Chairman secretly told me that the next two years monetary policy, I would not have it any change my investment as a.
Ignore the stock market analyst, the economic situation is not worried that the changes do not believe that any forecast, do not accept any information that only pay attention to two points: A. What to buy stocks; B. purchase price.
Buffett stocks of the six major elements of unbeaten

First, make money and not lose money Buffett is often cited phrase: "the first of the criteria for investment is not losing money; second criteria must never forget the first." Because if the investment dollar, the United States paid 50 points, only half of the money in hand, unless there is 100 per cent of income, can return to the starting point.
Buffett is the greatest achievement in 1965 to 2006, after three bear market, and his company Berkshire Hathaway only one year (2001) running at a loss.
Second, do not be deceived by the proceeds Buffett like to use more equity yield to the profitability of an enterprise. Equity yield is with the company's net income divided by shareholder equity, which measures the profitability of the percentage of shareholder capital to better reflect the company's profit growth.
According to the value of his investment principles, the company's rate of return of equity should not be less than 15%. Buffett's holding in the shares of listed companies, Coca-Cola's equity yield more than 30%, American Express of 37%.
Third, the future depends on people to Buffett called "Omaha prophet," because he always Weiyishidequ identify whether there are good prospects for development, can be in the next 25 years to continue to remain successful. Buffett is often said that through the windows to look forward, not look at the mirrors.
Forecast for future development of a solution is to calculate the company's future expected cash income worth, in today. This is the assessment of the company Buffett intrinsic value approach. Then he will be looking for those serious deviation from this value, low-priced sale of the company.
Fourth, investment will adhere to a competitor, a great "barriers" to predict the future of the company will be at risk, so Buffett preference to a competitor who can pose a huge "economic barriers" companies. This does not necessarily mean that his company will invest some exclusive products or a particular market. For example, the Coca-Cola Company has never missing competitors. But Buffett is always looking for those with long-term competitive advantage, he forecast the value of the company more security companies.
20 in the late 1990s, Buffett reluctant to invest in technology stocks is a reason: he could not see which companies have adequate long-term competitive advantage.
Fifth, we should bet on the gambling nature of the vast majority of conservative value investors. But Buffett is not. He invested 62 billion US dollars in the stock market concentrated in 45 stocks. His investment strategy, and even more radical than this figure. In his portfolio, the former accounted for 10 shares 90% of the total investment. Morningstar senior stock analyst Justin Fullerton said: "This is consistent with Buffett's investment philosophy. Not wavering, why not invest the money to your most favorite investment target?"
Sixth, if you have the patience to wait in the stock market, changing hands, it may be missing a golden opportunity. Buffett's principle is: Do not frequently changing hands, until there are good investment targets before shots.
Buffett often quoted baseball legend Ted Williams, the batter: "will be a good hitter, you must have a strike can play." If there are not any good investment, then he would prefer to hold cash. According to Morningstar statistics, cash in the Berkshire Hathaway investment company in the ratio of 18 per cent and above, and most fund companies only 4% in cash.
Buffett fiscal law: "Third, we should not three"

Following be called Buffett investment philosophy essence of the "three to three instead of" fiscal law:
To invest those who always put the interests of shareholders first enterprises. Buffett always favor those with strong stress honesty, companies with high dividend returns to the maximum to avoid the volatility of share prices, and to ensure that investment in preserving and increasing the value-added. For the wish to take advantage of share placements, such as ways to extract additional investors reject all the toil and sweat of enterprises.
To invest resources monopoly industries. From a look at Buffett's investment, roads, bridges, coal, electric power and other resources monopoly enterprises accounted for a considerable share of foreign capital in such enterprises is generally the preferred market acquisitions, and the unique advantages of industry can also ensure that the smooth efficiency .
Easy to understand the investment, promising enterprises. Buffett that any investment must own the stock knows, and is a good prospect of the industry's enterprises. Not familiar with, and the future is uncertain even if the enterprise has been more hype without Movable.
Not greedy. Wall Street in 1969 as a whole has entered a stage of frenzied speculation, in the face of even a new high of the stock market, Buffett is in the hands of up to 20 per cent of the stock when it all very calmly full parabolic.
Do not follow suit. 2000, the world stock market the so-called Internet-related stocks, Buffett has said he do not understand high-tech, not investment. One year after the global Internet stocks in the high-tech stock market crash.
Do not speculation. Buffett often say a mantra is: owning a stock, look forward to it the next morning on the rise is very foolish.
[Edit] billionaire Make this: Buffett Revelation today's financial sector financial management habits, Microsoft Chairman Bill Gates, Warren Buffett and investment tycoon Sitting two long list of the previous two. They have jointly to the University of Washington in Seattle speakers, when the University of Washington Business School students what they think about Zhifuzhidao, Buffett said: "customary strength."
The eggs in one basket Now everyone is getting stronger financial awareness, many people think that "not all the eggs in one basket", then even if a greater risk in financial assets, will not be completely annihilated. However, Buffett believes that investors should, as Mark Twain suggested, with all the eggs in one basket, and then carefully optimistic about it.
On the surface it seems that Buffett and everyone has differences, the two sides are not in fact wrong. Financial management know-how because no one size fits all truth. For example, Buffett is the internationally recognized "Share God", has a small stock holders MORE confidence. We ordinary investors Because of its energy and knowledge limitations, it is very difficult to invest in a professional-depth study on the dispersal of investment at this time may be wise. Meanwhile, Buffett's investment strategy focused on research-based, centralized decision-making. In the time and resources are limited, the number of decision-making and more natural than the success rate of investment decision-making should be less low, just like the one-child than families with many children suffered more care, and some look like zhuang.
Citizens who are not good business not to call an old Chinese saying goes: "citizens who are not good do business." Buffett has a habit of citizens who are not good stocks do, so he never could only buy some traditional industry stocks, but not touch those high-tech stocks. In early 2000, when Internet stocks upsurge, Buffett is not purchased. At that time it was agreed that he has left behind, but now I look back, buried the Internet bubble, a number of frenzied speculation home, Buffett once again demonstrated its prudent investment style master and become the biggest winners.
This example tells us that in any one must carefully before investing research, did not understand thoroughly, do not want to understand before hasty decision-making. For example, we all think that the deposit interest rate is too low, it should be to find ways to invest. The stock market slump, many people wanted in stamps and in foreign exchange, futures speculation, property investment and even investment "small owls." In fact, these channels than the risk of the stock market, are likely to lower operation also difficult than the stock market. So in the absence of their grasp, the money in savings inverted more than blind investment security.
Some people have made long-term investment statistics, each of Buffett's investment not only shares less than 8 years. Warren Buffett once said: "Short-term stock market forecast is poison, it should be placed in the most safe place, away from children and those in the stock market acts like children as naive investors."
What we see is many people Duizhangshadie the end of the day only to brokerage fees contributed, it is drawing water with a sieve own. We might as well be an account, by Buffett's floor, a stock holdings for eight years, buy sell fee is 1.5%. If these eight years, the convertible once a month, spending 1.5% of the cost of 12 months a year is 18 percent of expenditures, and eight years is not compounded, static expenditure reached 144 percent! Not ignorant of the fact that a balance Hayidiao, often in the details of the devil.

Buffett recommended investors to read the book

God Buffett shares of investment money to the gods of envy, and how these can be even a little bit of the divine? Have time to read Buffett recommended to investors read some books may help.
"Securities Analysis" (with Graham). Graham classics, professional investors required reading book, Buffett that every investors should read this book 10 times over.
"Smart investor" (with Graham). Graham written specifically for amateur investors, Buffett called "the greatest investment ever works."
"How to Select growth stocks" (with Fisher). Buffett said his investment strategy is "85% of the 15% of the Graham and Fisher." He said: "The use of Fisher's skills, can understand this line…… help make a wise investment decisions."
"Buffett's letter to shareholders: shares of the company handbook." Finishing the book collection more than 20 years Buffett's letter to shareholders in the essence of paragraphs, the book that Buffett investment philosophy is finishing its first-class work.
"Jack Welch Autobiography" (Jack Welch author), the world's CEO autobiography. Be global managers as a "CEO of the Bible." In this book the first time that management tips: In a short span of 20 years will be how the world from the 10th General Electric upgraded to second place, the market capital growth more than 30 times to 450 billion US dollars, as well as his years of growth, success stories and business philosophy. Buffett is so recommend this book: "Jack is the management sector Tiger Woods, CEO all want to emulate him. Although they can not keep up with him, but if you listen carefully to what he says, he will be able to close some more."
"Win" (with Jack Welch). Buffett said, "With the" win ", it was no other management book," although this view is exaggerated, but it has proved that the weight of the book. "Win" this type of book, and "female president tell you," and "influence" are views of the methods described with an example, if you would like to have them in a short time the skills, then you need only copy of the book all bold headings, because those are the author's summary of the various cases, a thick book, it is around these elements started. But if you think this is the essence of this book, then you are wrong, those in the real life examples, as well as the author's experience is the selling point of these books. Everyone can acquire skills, but everyone has different experiences, if you are willing to spend time reading every book examples, I believe you will be more valuable things.
Finally, Buffett is summed up his day-to-day work: "My job was to read." Buffett is the source of divine power from the reading.
Buffett's management wisdom

Despite the organizational form of the corporate system, but we will be shareholders as partners.
I and Charles Mans grid (Berkshire Hathaway - Hathaway vice chairman of the company) will be our shareholders, as owners and partners, and is the managing partner of our own people. We believe that the assets of the company itself is not the ultimate owners, it is merely a channel, shareholders and the company's assets will be linked to the company's assets and shareholders are the true owners.

Conform to the owner-oriented principles, we become self-reliant.
The majority of company directors will be the bulk of their net assets into individual companies. Charlie and I can not ensure that the operating results, but we guarantee: If you become our partners, regardless of the amount of time, our wealth will be synchronized with your movements. We have no intention through salary or stock options for your cheap.
Our long-term economic goals: to achieve a share intrinsic business value to maximize the average annual growth.
We are not to the scale of Berkshire Hathaway to evaluate its economic significance or performance. Our yardstick is the growth of share value.
In order to achieve this goal, the first choice is a diversified asset portfolio.
Our first choice is a diversified portfolio of these portfolios to create a stable cash flow, and sustained higher than the market average return on assets.
We will report every one of the major investment income, as well as the important data.
As our twin objectives of the traditional accounting methods, as well as the limitations of traditional accounting method has been difficult to reflect the true operating performance. As owners and managers, Charlie and I turn a blind eye to the fact that for these data. However, we will report to you our control every major investment income, as well as those that we think are important data.
Book results will not affect our operating and capital allocation decisions.
Assets of the target cost of similar mergers, we would prefer not to purchase reflected in the book, but can bring two US dollars income assets, which may be reluctant to purchase reflected in the books, receipts for one dollar assets.
We seldom borrowing.
When we really borrowing, we will try to fix long-term interest rates. Its excessive borrowing, but rather to give up some opportunities. Charlie and me, never to the additional 12 percentage points of return even at the expense of one night's sleep.
We will not allow shareholders to pay to satisfy the desire of the management.
We will not ignore long-term economic laws are being used to manipulate the price of the purchase of the entire company. Spend your money in, we like to spend their own money as carefully, and will be fully weigh If you own direct investment through the stock market to diversify available value.
Regardless of how noble intentions, we believe that only the result is a standard examined.
We continue to reflect on the company retained earnings is reasonable, its testing standards, each dollar of retained earnings, and at least one US dollars for shareholders in the market value. So far, we have basically achieved this point.
We can only harvest the same time and paid ordinary shares in issue.
This rule applies to all forms of distribution - not only is the public sale or acquisition, including debt-equity swap, stock options and convertible securities. Each stock represents part of the same company, but the company belongs to you.
Regardless of price, we have no intention to sell Berkshire Hathaway owned by the quality of assets.
You should be very clear, this is my Charlie and the common mindset that could undermine our financial performance. We believe that even those who are poor business, as is expected to generate cash flow, and we are its management and labour relations still satisfied with the decision of whether to sell, we will be hesitant.
We will report to you frankly performance, a positive emphasis on valuation and the adverse effects of the incident.
Our principle is that use of a transposition thinking mentality, we will want to know the real situation in reporting to you. This is our obligation, and never compromise.
We will only allow the law discussed in the context of securities trading.
Although our strategy is open to the public, but also Wusixiweigui good investment ideas, and they might have access to competitors. Similarly, a good product planning and corporate mergers and acquisitions, also in the attention to confidentiality. Therefore, we normally do not talk about their own investment ideas.
We hope that the Berkshire Hathaway stock is reasonable, and not be overestimated.
To the extent possible, and we hope that each and every one Berkshire Hathaway shareholders holding shares in the period, the income gained or losses, and the intrinsic value of a share was corresponding ratio Change. Therefore, Berkshire Hathaway shares and intrinsic value, there needs to be a constant that is 1:1.

Futures

2008-03-25T05:39:00.000-07:00

[Historical] futures

Futures Futures for the English, by the term "future" from evolution, but the meaning is: The two sides do not have occurred in the early trading on the physical settlement, but the common agreement in the future when the settlement of a physical, China people called "futures."

The initial spot from the long-term futures trading is developed from the original spot is the long-term deal the two sides in a verbal commitment to a certain amount of time for settlement of goods, but with the expansion of the scope of transactions, the sale of an oral lease commitments have been gradually replaced. Such a contract of increasingly complex, the need for an intermediary guarantees, in order to monitor both sides of delivery and payment schedule, then in 1570 the London created the world's first commodity exchange forward contracts - Royal Exchange. In order to adapt to the continuous development of the commodity economy, the 1985 Chicago Stock Exchange introduced a cereal called "futures contract" standardization agreement to replace the original use of forward contracts. The use of such standardized contracts, allowing the sale of resale contracts, and gradually improved the margin system, therefore a specialized trading futures contracts standardization of the market, a futures investors a finance and investment tools.
[The difference between the stock and futures]
ROI is not the same: Futures Exchange due to its margin leverage principle, can zoom proceeds, skillfully deflected. Futures contracts only pay 10 per cent of the total value of the capital; stock must be 100% invested, the financing required to pay interest costs.

Transactions do not like: domestic stocks can only do, and the futures can do more, but also short;

Futures accounts

First, accounts
1, select accounts institutions (qhkh.blog.163.com)

2, the depositary conditions

One of the following circumstances, shall not be a futures brokerage firm customers:
No civil capacity or restrict the civil capacity of a natural person;
Futures regulators, the staff of the Futures Exchange;
The workers of the company and their spouses, immediate family members;
Prohibited from entering the futures market;
Financial institutions, institutions and state organs;
Failure to provide legal representative signed the documents of ratification of state-owned enterprises or state-owned assets or the status of holding the dominant position of the enterprise;
Commissioned by the depositary units commissioned by the authority failed to provide documents;
Other provisions of the China Securities Regulatory Commission;
3, time and place of accounts: time to choose any place of business for futures companies.
4, the amount of accounts: not less than 50,000 yuan;
5, to provide information required to open an account:
Individual households: natural investors in the head as a positive, positive ID card scanning pieces;
Corporate families: the accounts of institutional investors as a positive agent of the head, scanning the depositary agent of positive ID card, the business license of institutional investors (copy) and the organization of code scanning card.
Second, the use of all the cash, wire transfers, money orders, checks, transfers and other methods of silver. Wire transfers, money orders, checks should be funding to the company account

Third, the application transaction coding, coding fill in the application forms Stock Exchange, futures companies from trading for clients for coding the application procedures, coding was approved before the transactions.

4. Transactions

5, clearing the settlement, the Department of daily transactions for clearing, business, the Office of the daily turnover at the Department of Housing and sign-clearing single, online trading customers through daily online queries for clearing single.

6, dismantling End households, futures companies in the provisions for withdrawal households formalities, the two sides signed the termination agreement to end agency relationship.

7, the futures companies from the Ministry of Finance to take cash, wire transfers, money orders, checks and bank transfers of the way out for the customers.

Futures speculation and the stock market is very similar way, but there is very clear distinction.

First, a small risk: The stock is trading in full, that is, how much money can only buy the number of shares, bonds and futures is the system that only paid turnover 5-10% can be 100% of the transactions. For example, investors 10,000 yuan, 10 yuan to buy a stock can buy 1,000 shares, and investment on the futures contract can be 100,000 yuan of commodity futures contracts, which is a small risk.

Second, two-way transactions: the stock is a one-way transaction, buying the shares only to be sold, and to be able to buy futures can be sold first, and this is a two-way transaction.

Third, time constraints: no time limits on stock transactions, if the quilt can be long-term positions, and must be due futures delivery, otherwise Stock Exchange will be forced to open or physical delivery.

Fourth, the actual profit and loss: stock investment return of two parts, one of which is the market post, and the other is paying dividends payable, and investment gains and losses in the futures market transaction is the actual profit and loss.

5. Huge Risk: As a result of introducing futures margin system, the additional margin due forced open system and the restrictions, making it more high-reward, high-risk characteristics, in a certain sense, the futures can make you rich overnight , may also cause you enveloping his past, investors to be cautious investment.

1: Variety futures active only a few varieties, and facilitate the analysis tracking. Shares have more than 1,300 varieties, Kanyibian very difficult, with more analysis is not easy.
2: funds futures margin trading, with 5 per cent of the funds can do 100% of the transaction, funds 20 times magnification, the leverage is very obvious.
3: trading futures transactions T +0, short mechanism can be a two-way transaction. T +1 stock is not short mechanism.
4: Participants: futures price risk by trying to evade the producers and distributors are willing to bear the risk of price risk and obtain profits of the joint participation of speculators. Stock speculators basically most of the participants (high secure speculators have been forced to become investors)
5: role: Futures most notable characteristic is provided to a spot and dealers avoid price risk market. Stock financing is the most important role, that is, we often say that the Physically.
6: Information Disclosure: Futures main information on production, consumption, the main origin of the weather report, professional newspapers have reported very high degree of transparency. The main stock of the financial statements, and false listed companies up to 60 percent.
7: The subject matter: the corresponding futures contracts are fixed commodities such as copper, soybeans, etc.. Stock portfolio.
8: Price: Futures prices in the future everyone is a trend expected by the futures commodity costs constraints from the recent delivery, the price will be Fun in the same spot prices. Makers stock price is subject to the intensity of the boost, and the market is closely related to the trend.
9: Risk: commodities is the cost, the excessive prices deviate from the market will be corrected, participants mainly from the risk of a reasonable grasp on the positions and the level of operations. The stock is delisted, the shares can be down low. Even if you have high operating level, it was not easy to see which companies in the false accounting, which is in the department of this company and stock certificates.
10:: front-month futures have matured, must be delivered. Can be removed by the performance of hedge responsibility. Stocks can be long-term holders.

[The main features of futures contracts:

A. commodity futures contracts variety, quantity, quality, grade, the time of delivery, such as the place of delivery terms are established, standardized, the only variable is the price. Futures contracts are usually from the standard design of the Futures Exchange, approval by the state regulatory agencies listed.
B. futures contract was organized by the Futures Exchange under contract, have the force of law, while prices in the exchange trading room through an open competitive way; abroad are using the open outcry method, and are used computer business in China.
C. futures contracts from the implementation of security exchange, does not allow private transactions.
D. futures contracts can be settled through cash or hedging transactions to meet contractual obligations or discharge.

[Elements of futures contracts:

A. Variety transactions
B. transactions and the number of units
C. Minimum price changes, changes in the minimum offer price shall be the whole multiples.
D. maximum daily price fluctuation limit, that is up Dietingban. When market prices rise to the biggest gain, we said, "涨停board" Instead, "Dietingban."
E. month contract
F. trading hours
G. Last Trading Day: The last trading day is a contract in the futures contracts for delivery in the transactions in the last trading day;
H. delivery time: that the contract requires physical delivery time;
I. delivery standards and grading
J. delivery location
K. margin
L. transaction fees

[] The role of futures contracts

First, the use of futures to hedge market sale and purchase agreements, locked costs, avoid the spot market because of the risk of commodity price fluctuations that may cause losses.
Second is to attract speculators risk investment transactions, increased liquidity of the market.

[Features] Futures Exchange

1, the Futures Exchange, the two-way: the Futures Exchange and the stock market one of the greatest distinction can be a two-way trading on futures, futures can be bought air can also short selling. Prices can buy low and sell high, prices have fallen low and sell high when completed. More can be done to make money, and money can be short, so that no bear market futures.
[In a bear market, the stock market slump and the futures market still has scenery, the opportunity remains:

2, the low-cost Exchange: Futures Exchange, and other countries do not levy stamp duty tax, the only cost is transaction fees. At present three domestic procedures in 2/10000 Stock Exchange, about three, with the additional cost of brokerage firms, unilateral fee is less than 0.13% of the volume of transactions.
[Low cost is a guarantee of success:

3, futures leverage:
Lever Principle is the charm of futures investments. Futures market transactions without paying all the money, the current domestic futures exchanges need to pay only 5% margin can be obtained the right to future transactions.
As the use of margin, the original prices to be more than 10 times magnification. We assume that the closure of a copper prices on涨停(Futures涨停only in the last trading day of the 3 per cent), the operation of our capital margin of 60% (3% ÷ 5%) is huge,涨停board in the stock market six times.
[] Have the opportunity to make money

4, "T +0" trading opportunities doubled: Futures is the "T +0" transaction, your application funds to the extreme, you grasp trends, the transaction can be ready at any time positions.
[Convenient access can increase the security of investment --

5, the futures market but greater than zero and negative market: futures is a zero-sum market, the futures market is not in itself create a profit. In a certain period of time, do not consider funds from the access and transaction costs, the total capital of the futures market is unchanged, market participants profit from another dealer losses.
In the stock market is entering a bear market, the market price has shrunk greatly, and the meagre dividends, the state, enterprises attract funds nor short mechanism. Of the total funds in the stock market over a period of time there will be negative growth in profit will be less than the total amount of losses.
[Negative] is always greater than

Comprehensive national policy, and economic development needs, as well as their futures are decided features futures has tremendous room for growth.

Stock Index Futures name is the stock price index futures, also known as stock index futures, index futures, stock index refers to the subject matter for the standardization of futures contracts, the two sides agreed on a specific future date, according to a pre-determined Index size, the sale of the underlying index. As a type of futures, stock index futures and commodity futures with the same basic features and processes.
[Stock index futures - the basic characteristics of

1. Stock index futures and other financial futures, commodity futures contracts a common feature of standardization. Futures contracts are standardized means in addition to price, all the futures contracts are pre-established good terms with standardized characteristics. Through the standardization of futures trading futures contracts.
Transactions decentralization. Futures market is a highly organized market, and strict management system, the Futures Exchange, the Futures Exchange on completion.
Hedging mechanism. Exchange can operate through the end of reverse hedge compliance responsibility.
No liabilities daily settlement system. After the end of daily trading, the Stock Exchange under the settlement price on the date of each Member of the margin account is adjusted to reflect the investor's profit or loss. If the price is not conducive to investors holding positions in the direction changes, daily settlement, investors will have to deposit an additional, if less than bonds, investors could be forced open position.
Leverage. Stock Index Futures using margin trading. Because of the margin required to pay is based on the number of transactions by the index futures to determine the market value of the Stock Exchange in accordance with the market price changes, determine whether additional margin or can extract excess.
2. Stock index futures own unique characteristics of stock index futures for the subject of a specific stock index, Price units of the index point.
Certain contracts to the value of the currency and stock index multiplier offer the product to express.
Stock futures delivery of a cash delivery, but not by delivery shares through cash settlement to settle the post position.
Stock index futures and commodity futures distinction between different underlying index. Stock Index Futures for the subject of a specific stock index, the underlying asset is not true, and the Commodity Futures Trading object is a physical form of commodities.
Delivery in different ways. Stock futures a cash delivery, delivery, adopted in the settlement cash to settle the post position and the use of physical commodities futures delivery, delivery, the transfer of ownership through the physical liquidation.
Expiration date of standardization to different degrees. Stock Index Futures contracts are standardized maturity, the general maturity in March, June, September, December and several, and commodity futures contracts expire, according to the characteristics of different products and different.
A different cost. Holders of stock index futures is the cost of financing costs, and there is no physical storage costs, and sometimes there are dividends of their shares, if the dividends exceed financing costs, but also will produce a profit and the cost of ownership commodity futures including storage costs transportation costs, financing costs. Stock futures lower than the cost of holding commodities futures.
Performance of different speculation. Stock Index Futures response to external factors more sensitive than commodities futures, price fluctuations have become more frequent and severe, thereby stock index futures commodity futures is more than speculative.
[] Futures Exchange

Futures Exchange (foreign exchange futures) is the foreign exchange futures trading in the future the two sides agreed a certain time, based on the proportion of agreement now, in one currency to another currency exchange standardized contract transactions. Refers to the subject of exchange rate futures contracts, to avoid exchange rate risk. It is the first financial futures in a variety. Since May 1972 the Chicago Mercantile Exchange, the International Monetary Market Division launched the first since the foreign exchange futures contracts, with the development of international trade and the world economy, the acceleration of the integration process, foreign exchange futures have maintained a strong momentum of development. It is not only for the vast number of investors and financial institutions, and other economic entities provide an effective hedging tool, but also for arbitrage speculators and provide a new means of profit.

[Concept] futures

(1) the so-called futures, futures contracts generally refers to the fact that the Futures Exchange formulate uniform, in the future provisions of a particular time and place of delivery subject of a number of standardized contracts. This object, called foundation assets is the corresponding futures contracts in the spot, and this spot could be a commodity, such as copper or crude oil, it can also be a certain financial instruments, such as foreign exchange, bonds, can also be a financial indicators, such as the three-month interbank borrowing interest rate or index.
Generalized futures concept also includes exchange-traded options contracts. At the same time the majority of the Futures Exchange listed futures and options varieties.
Futures contracts include: contract title, trading units, Price unit, the smallest change in price, the largest daily price fluctuation limit, delivery month, trading hours, the last trading day, delivery dates, grade delivery, delivery location, the minimum margin transactions, transaction procedures fees, delivery methods, such as transaction code. Annex futures contracts and futures contracts have the same legal effect.

Let me give an example of life in a small help you understand. For example, you shop Maihua, is now paid on the purchase of spot transactions; if they agreed to 12 months after his birthday, collect payments, which are long-term transactions. Exchange is generated from the spot transactions and long-term transactions, and transactions in the long-term development on the basis of the formation. Said earlier, the futures contract is actually a standardized long-term contracts. That is the commodity contract (Contract object) type, quality, quantity and delivery time, place prior provisions are good, so that buyers and sellers will not be because product quality, quantity and place of delivery, the time problem the controversy

Standard contract forms: Dalian Commodity Exchange gold soybean futures contracts on the 1st

Transactions varieties - yellow soybean trading units -10 tons / Price units hand - the smallest change in price -1 RMB yuan / ton rose Dietingban rate - the previous session to settle at 3%
Contract delivery month -1,3,5,7,9,11
Transaction time - every Monday to Friday morning 9:00 - 11:00 pm 13:00-15:00
Last Trading Day - the 10th month contract last trading day delivery - the seventh day of the last trading day (If legal holidays postponed)
Delivery level - see Annex specific content delivery locations - Dalian Commodity Exchange warehouse delivery designated trade margin - 5% of the value of the contract
Transaction fees -4 / hand delivery approach - focus on delivery transaction code - A
Listing Exchange - Dalian Commodity Exchange delivery level - the lowest rate indicators Chunliang%
Testa, impurity%% moisture, odour color premium - (yuan / ton)
Discount - (yuan / ton)
……

(2) the characteristics of futures contracts: commodities futures contracts variety, quantity, quality, grade, the time of delivery,
The place of delivery, and other terms are established, standardized, the only variable is the price. The first standardized futures contracts in 1865 by the CBOT launched.
Futures contracts in the futures exchanges were organized, and have the force of law,

The price is in the Hall of the exchange transaction through open competitive way; abroad are using the open outcry method, and are used computer business in China.

The performance of futures contracts secured by the exchanges, not private transactions, transactions

By the buyer of the seller, the seller's buyer.

Futures contracts by hedge positions and delivery settled fulfill their responsibilities.

(3) the terms of futures contracts: the smallest change in price: that the unit price of futures contracts Change the minimum changes.

The largest daily price fluctuation limit: (also called up Dietingban) is a futures contract in a trading price of the deal may not be higher or lower than the rate under the Change, more than the rate of Price Change will be considered invalid, not transactions.

Futures contract delivery month: refers to the provisions of the contract delivery month.

Last Trading Day: refers to a contract in the futures contracts for delivery in the transactions in the last trading day.

Futures contracts trading unit "hand": Futures Exchange must be "single-handedly" integer multiple, different varieties of each transaction the number of commodities contracts in the futures varieties contained in the contract.

Futures contract price of the deal: that the futures contracts for delivery in the benchmark benchmark delivery warehouse delivery prices including VAT. Contract transactions, including the opening price, closing price, such as clearing price.

Futures contracts buyer, if a contract expires, he bought futures contracts corresponding obligation to the subject; futures contracts and the seller, if a contract expires, he obliged to sell the corresponding futures contracts the subject matter (some futures contracts expire at the delivery but instead of clearing the physical differences, such as stock index futures expire in accordance with the spot index is the average for a pair of open futures contracts for final settlement.) course futures contracts traders can also choose in reverse before the expiry of the contract to offset the sale of such obligations.

(4) the formation of the Futures Exchange: the modern sense of the futures market in the United States, in 1848, launched 82 businessmen organized by the Chicago Board of Trade (CBOT), which aims to improve transport and storage conditions, and to provide information for members; 1851 Chicago by the introduction of long-term futures contracts in 1865 introduced the first standardized contracts, a bond system at the same time (not more than 10 per cent of the value of the contract), which is of historic significance system innovation; 1882 Exchange to allow hedging waive compliance responsibilities and increase the mobility of the Futures Exchange.

China's futures market is the background of the reform of the grain circulation system. Along with the State Monopoly for Purchase and Marketing to abolish agricultural policy, opening up the majority of the prices of agricultural products, the market for agricultural production, circulation and consumption of the increasing role of regulation, the prices of agricultural products and volatility of the spot price closed and distortion, agricultural production jumped up and and down and food enterprises such as a lack of mechanisms to preserve and increase the problem has aroused the concern of leaders and scholars, could establish a mechanism can provide guidance on future production and business activities of the price signals, but also guard against the risk of price fluctuations in the market had become the focus of attention . February 1988, the State Council leaders instructed the departments concerned to study abroad futures market system and solve the problem of fluctuations in the prices of domestic agricultural products, in March 1988, the first meeting of the Seventh National People's Congress, "Government Work Report": actively develop various wholesale trade market, Exploration Futures Exchange. China's futures market opened research and the regiment.

October 12, 1990 Zhengzhou Grain Wholesale Market approved by the State Council set up to the basis of spot transactions, the introduction of futures trading mechanism, the Chinese made the first step in the development of futures markets;

June 10, 1991 Shenzhen Stock Exchange to set up non-ferrous metals;

May 28, 1991 Shanghai Metal Mercantile Exchange opened;

In September 1992 the first futures brokerage firms - Guangdong Wantong futures brokerage company, marking China's futures market interrupted again after more than 40 years in China's resumption.

(5) futures-related terms: opening, and open positions: the Futures Exchange to buy, sell, as long as it is都叫opening of the new position. Traders holding the hands of the position, called the position. Covering means traders taking positions trading activities, the way for taking positions opposite to the direction of the hedge trading.

Since opening and the meaning of different positions, traders in the trading of futures contracts must specify the opening or positions.

Example: investors in a December 30 in Shanghai and Shenzhen in March to buy 300 index futures 10 hands (Zhang), the transaction price for 1450, when he will have 10 lots bullish positions. To January 10 next year, the investors see futures prices rose to 1,500, this price then sell positions 5 hand March stock index futures, after the transaction, the investors actual positions left hand more than 5 single. If investors in the declarations on the Times is sold 5 hand opening March stock index futures, after the transaction, the investors should be on the actual position is 15 hands, 10 hands bullish positions and five hand short positions.

Explosion positions: that the interests of investors account negative. Shuguang that not only investors but also the entire margin inverted debt owed futures brokerage firms. Since the Futures Exchange clearing system and the day-to-day implementation of mandatory open system, under normal circumstances warehouse explosion is not going to happen. However, in some special circumstances, such as occurred in the market that runs from changes in the positions of the heavier the opposite direction and is likely to account warehouse explosion occurred.

Wharf explosion occurred, investors must promptly make up the shortfall, otherwise they will face legal recourse. To avoid this from happening, good positions requiring special control, and abandoning as stock as Mancang operation. And timely tracking of the market, not as stock as a buy over.

Longs and shorts: bidirectional futures trading mechanism, the buyer has both the seller. In futures trading, the buyer called long, the seller called shorts. Although the stock market transactions will be referred to as multiple buyer, the seller called shorts. However, the stock must be a seller of the stock, there is no stock of the people can not be sold.

Clearing Price: refers to a futures contract on the transaction price by turnover Jiaquanbengjunjia. No transactions were recorded for the day to settle at the session of the day as the settlement price.

Volume: refers to a futures contract on the same day during all transactions turnover volume of bilateral contracts.

Positions: Futures Exchange is open positions held by the number of bilateral agreements.

Total positions: all investors on the market in the futures contracts on the "open contract" number. Published in the Stock Exchange of information, specifically "the position" column.

Changes in the positions, reflecting investor interest in the contract transaction, the investors to participate in the contract is an important indicator of transactions. If the sustained growth in the positions that both sides in the opening of trading, investors interested in the growth of the contract, the continuous influx of funds outside the contract transactions; On the contrary, when the steady decline in the positions that the parties to the transaction out in the open, traders in the interest of the contract falls. There is another situation when the transaction volume growth, but the positions do not change, this shows that the market-based trading to change hands.

Retail line

2008-03-25T05:32:00.000-07:00

Retail line
Retail line is great wisdom shares the characteristics of soft indicator.
Principle: The index of retail value is given, through observation retail value addition and changes can understand the operation of main acts.

As we all know, from low to high price of the process, but also by the chip stocks to focus on the process of decentralization, retail line is based on this principle and design. Great wisdom retail line is the increase or decrease in the number of retail measure changes curve through retail line with the increase in the downward trend in and out of funds to reflect the main activities. Retail lines increased, the dispersal of funds chips scattered; retail line decreased funding approach, the focus on chips.
In fact, for retail use of the specific indicators, we can be summarized as eight law to help investors in the stocks to study.
(1) retail lines increased chips scattered, a few retail measure speed up the rate of increase, the dispersal of funds, easily evolve into dominant retail prices.
(2) decline in retail lines, chip focus, the major increase in number of shares accelerated, leading the main market often produce.
(3) If the retail line or from the beginning to drop, usually the main approach began to collect cheap bargaining chip market may turn for the better.
(4) retail line continued to drop, the stock is up that the main force in driving down the Jiancang (5) retail line continued to drop again after suddenly accelerated fall, but slightly higher price after sideways not up, the main Xianpan will end, may step Elevated to the stage (6) retail line continued to drop, but lower price, then that quietly set in the main.
(7) retail line growth rate has begun to quicken. Shares rose, the maindistributed in the hands of the chips.
(8) retail line continued to rise, such as the decrease in the price is usually the main bargaining chip in the hands of the rapid distribution, shipping firm

Stock index futures

2008-03-25T05:29:00.000-07:00

Stock index futures definition

Stock index futures, short stock index futures. Stock Index Futures will be a stock index is regarded as a specific, independent of the transaction. Opened its corresponding standard futures contracts, and margin trading (or leveraged transactions) system, to buy air, short selling transactions, stock index futures usually use cash delivery.

Since February 1982 the United States Kansas City Futures Exchange to introduce Value Line Composite Index futures contracts, stock index futures market has become an important global financial investment varieties.

Stock index futures are a financial futures. Futures transaction is the sale of futures contracts by the two sides in accordance with contract requirements and the terms of agreement in the future of a particular time and place, to a specific sale price of a particular quantity and quality of the object of the transactions. The ultimate goal of the Futures Exchange is not often the subject of the transfer of ownership, but through the sale of futures contracts, to avoid the spot price risk. As the name suggests, stock index futures is the currency of the subject matter for the stock index futures contracts. Stock index futures most important function is to stock investors can use its cash to invest in hedging, to avoid systemic risk. Here investors is in contrast to the case of the speculators. Shares to investors through investment in the stock prices of listed companies with substantial growth and increased access to long-term capital gains, at the same time through the calendar year in the distribution of listed companies to earn investment income. They want to avoid stock market volatility, especially the sudden incident led to dramatic fluctuations in the loss. If there is no mechanism for short selling, once a drastic fluctuation in the stock market, many investors may be selling shares in a chain reaction, thus adding fuel to the flames, further exacerbating the price down. And stock index futures is to provide investors with a system to avoid market risk mechanism, and the principle is based on stock index and stock price movements of the same direction trend in the stock in the spot market and the stock index futures market on the contrary for the operation to offset the risk of price changes. In this way, possible fluctuations in the market when investors could not sell their shares under the circumstances to preserve and increase their investment, thus stabilizing the market and protect the interests of investors and safeguard the healthy development of the role of the securities market.

Stock index futures function

1, stock index futures investors need to purchase shares directly on the stock market investment can be reduced by the purchase of shares of the trouble and expense.
2, stock index futures and other futures trading, the margin system is implemented, investors need a lot of money can be invested in the market, the leverage ratio usually in the 10 to 40 times.
3, transaction costs are usually much smaller than stock.

The risks

Stock index futures as a financial investment products, will form a specialized in stock index futures investment groups, from the hedging of the country, the resulting risk, and highly leveraged transactions rate doubled the risk Larger, from the level of speaking, the stock index futures market risk than the risk of stock market much larger spot. Risks are: 1, high-leverage rate risk. As a stock index futures margin system so that the amount of losses may be enlarged several times. 2, market risks. Changes in the value of price or loss caused by the possibility. 3, operational risk. Because of the imperfections, internal management procedures are not sound or transaction, the business market forecast to fraud or error, the operating system, such as failure of the losses caused by reasons.

Investment strategy

Stock index futures currency is the subject of some of the stock price index contract trading unit of currency is certainly the product of the underlying index and to express to all types of contracts to the underlying index points bid. The main stock index futures trading, including trading unit, the smallest change in price, daily price fluctuation limit, the contract period, clearing, settlement method and price. Hong Kong's Hang Seng index to trade as an example, the Hong Kong dollar trading unit is 50 × Hang Seng Index, the smallest change is a price index points (50 Hong Kong dollars), that is, the Hang Seng Index decreased one point each, the buyers of futures contracts (longs ) 50 each contract on the Hong Kong dollar deficit, sellers earn 50 each for the Hong Kong dollar.

The total investment in stock index futures strategy is in the forecast when the index fell to sell stock index futures contracts, stock index forecast to rise to buy futures contracts. Use index futures to hedge divided into short and long hedging hedging. When investors hold shares, in order to avoid fluctuations in the stock market and the losses caused, and must sell a certain number of the delivery of some stock index futures contracts, if the stock market is down, investors holding shares Spot losses will be offset by the profitability of futures, which is short hedging. Prepared in the future when investors buy the shares at a certain time, in order to avoid price rise led to the loss of stock index futures contracts can be bought, long hedging.

Related Case

Where involved in the transaction are bound to encounter a problem: Only when the stock market or even the hands of the rose, before profits fell, but to watch the devaluation of stock, or Gerou out. Sell the stock, it must be the hands of the stock. Especially the "heavy" trading fund, a one-light on the charges is not a small number. How to solve this problem? How to preserve and increase the hands of the stock? Stock index futures, the value can be sold after the first buy.

In the present there is no single stock futures circumstances, can be set up screening the movement of the stock market index futures, the stock market fell, "short selling" transactions, we can preserve and increase the stock of the hands of the stock market or simply use or up to Change Stock index futures speculation.

The following are examples to illustrate son.

Opened on the assumption that card index futures, when the index reached 2,000 points, market began to fall. As a fund manager positions too heavy, not all shipments, therefore, he could corresponding number of short selling index futures contracts, after the market fell, despite the devaluation of the hands of the stock, but the hands of the short futures index is a profitable, in a certain position end of the short futures position open, its profit will be offset in whole or in part the devaluation of the stock lost. For individual investors, the same reason.
Usually, it is all stock trading, that is, "any money to buy goods at a" hot spot and futures is one of the largest leveraged transactions, that is, the small-minded. A margin ratio of 10%, then 10% of the funds can be made 100 percent of transactions. This is both a high return rate futures, are high-risk factors. For those speculators, and they do not really want to buy equities, but only to use the stock market to make the Change to post profit participation in index futures is an option. As in the previous case, when the index reached 2000 points, the stock market speculators judged to fall short when the volume of index futures contracts, and the status of certain short futures position to transfer positions. And fund managers difference is that the speculators at a profit of net profit.

China's stock index futures in Shanghai and Shenzhen now have 300 coming soon!

Shenzhen 300 index, or: Shanghai and Shenzhen 300;

Index code:

Shanghai Stock Exchange 000300

Shenzhen 399300.

Shenzhen 300 index to December 31, 2004 as its base date starting at 1,000 points.

Shenzhen 300 index by the Shanghai and Shenzhen stock markets in selected 300 A shares as samples, which are 179 Shanghai Stock Exchange, Shenzhen City 121.

Sample selection criteria for the large-scale mobility of the good stocks.

Shenzhen 300 index samples cover about 60 percent of the market in Shanghai and Shenzhen market, a good representative of the market.

Financial Encyclopedia

2008-03-25T05:17:00.000-07:00

Interpretation
Finance and Economy.

Related literature
Zhou Enlai, "Jiang on the principles guiding the work of the District and strategies of the two documents": "people live in particular the financial crisis, people can not stand, and front-line loses to continue, not to frighten people."
"People's Daily" 1984.3.30: "He was good at the complex financial problems, and use easily understood language expression."
Zhang Week "programs in China," Chapter 3: "They either practice deception plan without financial checks to wrap cash."

Title
"Finance" is a close attention to changes in China's economic system and a modern market economy in the process of news publications. Adhering to the "independent position, exclusive reports, insights," the concept of "financial" comprehensive observation and follow-up of China's economic reform is an important measure of an important trend in senior government officials, the focus of the market building, timely analysis and comment, for the capital market China's growth changes more special concern for the major overseas economies, the current affairs and news, "Finance" has always sent a reporter interviewed at the scene, news reports and the exclusive authority known.

"Finance" is widely regarded as the only see China's current senior class financial news publications, the main readers for China's high-class investors, the management and economic circles. Since April 1998 began publication, "Financial" many reports and comments for overseas important media such as The Wall Street Journal, Reuters, the Far Eastern Economic Review, South China Morning Post, the Financial Times and other widely reproduced or quoted.

"Finance" magazine column headed "cover story" because of the depth of historical records reported value. Other important columns such as "the overall economic situation", "capital markets", "Financial Watch", "view Review" and "industrial depth," "Company Focus", and so on, for every display insights for the industry well.
Financial Majors
Financial professional status and forecast financial professional category refers to the economic and professional economic management, including the common professional marketing, accounting, human resources management, finance, international trade, business management, statistics, finance and taxation, in the last few in the talent market to the popular professional.

With China's sustained economic development, social class all the financial needs of professional talent has been in a rising trend, even in the surge in the number of college students facing difficulties in finding jobs today, the financial professional employment situation is relatively a lot of professional, still relatively good. In demand all over the top post, the financial professional in marketing, accounting, management has been a leader. According to the survey results show that the financial community of professional graduates will demand strong, 90% of units have long-term needs.

In addition, experts predict that in the next Top 10 are professional financial planners, system integration engineers, lawyers, Wuliushi, registered accountants, marketing division, environmental engineers, actuaries, sales of Chinese and Western medicine physicians, management consulting division. Among them, financial planners, Wuliushi, registered accountants, marketing division, the actuary, management consulting division six professional belong to the financial sectors.
Financial professional employment distinctions, inferior
And compared to other professions, financial professional with the following two obvious advantages:

First, the financial professional jobs are widely. Various economic sectors, whether it is a large state-owned, foreign-funded enterprises or small private companies have different numbers of graduates of the financial needs of the industry and the impact of structural adjustment changes also smaller. With the development of market economy, financial professional employment means more width. For example, financial newspapers and magazines like the continuous emergence of a number of non-professional integrated in the financial press make a big fuss about the issue, we need a large number of financial journalists, which as a financial professional graduates a lot of jobs. Like other schools, training institutions can also become a financial professional employment channels.
Second, the market demand for more and stable. Along with the rapid economic development, social class professionals in the financial demand has been high, the demand in the market place for the top three. According to the analysis of experts, the future financial industries, there are still more popular professional. So, and other professional categories, compared to the financial professional employment situation is still very optimistic. However, we must also recognize that better is not absolute, and does not mean that graduates will be able to type in the financial market professionals invincible, skelter.

Judging from the current talent on the market situation, the Financial category graduates there are the following negative factors:

First, there are graduates of the current knowledge of imperfections, the overall quality is not high, is not so strong and so on, need to go through a period of practice adjustments. This is mainly by the current state of education in our tertiary institutions affected.
Second, the Financial Specialty large number of graduates. Due to persistent financial professionals heat, the creation of professional financial institutions large number of graduates has been increasing, which directly resulted in financial professional graduates increased pressure on employment.
Third, the financial services sector experience light weight professional phenomenon. The financial services professional category in the actual operation higher, coupled with the impact of traditional values, many of the employing units on the experience beyond the requirements of the professional requirements. This has become difficult employment of fresh graduates the direct cause.
Financial professional the professional requirements
Solid professional knowledge and good communication skills is the financial professional must possess the basic requirements, in addition, along with economic development, finance and professional category in a number of other constantly demanding.

1, vocational skills requirements, especially on foreign language requirements generally relatively high.
This is determined by China's current economic environment decision. With China's ties with the world economy have become increasingly close, the financial industry norms and standards have gradually with foreign convergence, the Financial talent if not excellent command of foreign languages, it is difficult to carry out day-to-day work and liaison.

Second, the vocational qualification certificate requirements more stringent.
Universal demand of the importance of the credentials and performance are as follows: accounting business license, the lack of accounting for performance of the permit are not allowed to engage in accounting; financial professional English Certificate Examination (FECT certificate), the examination of English is the national trade certificate Examinations showed some foreign banks started to FECT certificate as a reference when hiring staff based on the international business division credentials (former Waixiaoyuan credentials), to participate in the performance of the international business division of the qualifying examination; in the year must be held on or before National titles rank correlation Language foreign language class B and class C examinations meet the state; their qualification certificates, insurance agents, insurance agents engaged in the performance of the business insurance agents must participate in the qualifying examination, and was issued by the People's Bank of China (Insurance agent credentials) of the eligibility criteria in order to obtain the corresponding level of qualification certificates.

Third, the increasingly high demands of academic qualifications. Typical is the most prominent financial professional