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Survey Says

Snacks by Shari Lyew

Every week Your Money is on the streets and the internet trying to find out what Jamaican’s shoppers love to buy, and this week it’s about snacks. **This survey was conducted with the participation of 30 persons who were consulted on the streets of Jamaica. An additional 20 persons participated through the use of the internet.

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You are told you may have to wait a while longer for your ride to pick you up from work/school. This means a longer wait to get dinner. What type of snack would you prefer to eat while you are waiting? a) Crackers or cookies 20% b) Sandwich biscuits- they are inexpensive and filling. 20% c) Chips- because there are so many types to choose from. 24% d) Sweets, nuts or health bars- not too filling and more fun to eat. 36%   You are given the role of snack packer for a family beach trip. Which one of these brands would be the first to go into your basket? a) Chippie’s b) Sunshine c) Excelsior d) National

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32% 20% 12% 36%

Your doctor has told you to cut down on your sugar intake. Which of these health bars do you choose to supplement your low sugar diet? a) Nature Valley Granola Bars b) Quaker Chewy Oats Bar c) Nutri-Grain Bars 8% d) None of the above 16%

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52% 24%

  If you carry an extra hundred dollars on you, which sandwich biscuit would you more than likely spend it on? a) Ho-Made Sandwich Biscuits 16% b) Butterkist Sandwich Biscuits 28% c) Nabisco Oreo 36% d) I am not a fan of sandwich biscuits. 20%   With the world becoming more health conscious and heading to a more natural food approach, what are your views on healthy snacking? a) I don’t care what snack I eat, whether healthy or unhealthy once it tastes good. 24% b) If it contains too much carbohydrate or sugar its definitely a not for me. 16% c) How health conscious can you be? One minute something is good for you, next minute it isn’t. 48% d) I am a ‘healthy snacker’, since snacks comprises most of my diet. 12%   How are your preferences towards snacks manufactured in Jamaica? a) The only thing I am loyal to is a snack that is most affordable. Whichever one is the cheapest that’s the one I’m buying. 8% b) I always try to purchase snacks that are manufactured in Jamaica because it helps the economy. 20% c) As long as it’s produced by one of our neighbouring Caribbean islands and not a first world country. 8% d) If the product has a good quality, then I will buy it but I don’t go for many Jamaican made snacks. 64%

Visit YourMoney online at www.yourmoneyezine.com for more information or email us at editor@yourmoneyezine.com.


Business Lounge

How much is fast food benefitting from a fast paced society?

In our fast paced society many persons have a greater reliance on fast-food outlets rather than a home cooked meal. Whether it’s due to a hectic work schedule or any other overwhelming responsibly, the convenience of fast food meals is a growing phenomenon.

Pizza Hut is currently running a special from Sunday to Thursday offering patrons up to fifty percent (50%) off a serving of chicken wings with the purchase of a large or medium pizza.

Alison Cole, Communications Officer “ I find it easier to purchase food on my way home. As a single woman, I prefer to have a quick meal and throw away the packaging, rather than preparing a meal and washing the utensils after. This doesn’t mean I have an unhealthy diet, I try to consume a lot of fibre and vegetables.”

Kentucky Friend Chicken has also introduced its “Real Deal” value meals giving consumers a choice between a chicken, wing or snacker box for under two hundred and fifty dollars ($250.00). Burger King also has a ‘value meal’ menu that offers a Chick’n Crisp Combo that comes with a small pack of french-fries and a small soda.

The current economic crisis has also caused fast-food giants to restructure their menus to accommodate patrons; both the ritual and seldom customers. Mothers, a local fast-food franchise which caters to the lower and middle income markets, has devised a comprehensive meal for a minimal price. The ‘Full House Combo’ comprises of a Mothers’ Patty with lettuce, cheese and tomato; a medium soda and fries for the cost of two hundred and thirty-eight dollars ($238.00).

Health Concerns With such deals appearing, the Jamaican public must realize that while there is less time for leisure and exercise, the risks of obesity are high. Proper diet and exercise are essential for ones well being. In 2008 Jamaica Health and Lifestyle Survey found that over twentyfive percent (25.3%) per cent of Jamaica’s population was found to be obese. This figure was 19.7% in year 2000.

Island Grill’s Response Other local franchises have employed other methods to lure the consumer into their restaurant during the weekend. Island Grill uses local traditional dishes such as rice and peas and ripe plantains to secure weekend business. In an April 2008 Gleaner interview, Thalia Lyn reported that Island Grill’s sales decreased by ten (10% percent). “The tight environment is forcing the restaurants to adopt and innovate, which is in-sync with the company’s philosophy.” The fast food giants are also positioning their menus to attract customers that are no longer able to afford higher end eateries as a result of the current economic environment. Wendy’s has been offering for some time now, value meals, costing roughly two hundred and seventy-five dollars ($275.00). These meals usually come with a small serving of french-fries, a small soda and a burger/sandwich of choice. Despite these adjustments, Wendy’s recently announced the closing of its New Kingston branch, citing poor sales as the main reason for their actions.

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By: Ryan Blake

YOUR MONEY • Business Lounge

• •

Thirty percent of persons interviewed say that they are physically inactive. Forty-three percent of women say they are physi cally inactive, versus sixteen percent of men


An Entrepreneur’s Life Give a Little, To Get a Lot

I

f you’re a new entrepreneur, one of the challenges you’ll face is how to get a prospective client to give you a chance to prove yourself. You know your product or service has tremendous value, but unfortunately it seems that no one else got the memo about how great your business is.

Your desired customers are not really playing hard to get when they ignore or politely decline your services. Let’s examine what the typical prospect might be thinking after receiving your business proposal: 1. I don’t know this person; 2. I don’t trust this person; 3. I don’t have any reason to give my money to this person. Put yourself in the customers’ shoes – it’s difficult to make a buying decision when you don’t know if the product or service will really meet your needs. When confronted with a ‘No Entry’ sign, what can you do to get your foot in the door?

The Outrageous Offer Desperate situations often call for desperate measures. If you’re in a position where despite your best marketing efforts, you haven’t gotten the positive results and new business that you were expecting, then maybe it’s time for you to implement ‘The Outrageous Offer.’ I first heard about this concept at a marketing seminar organized by business training experts Peak Potentials. The case study was shown of an ice cream store owner who was finding it difficult to attract new customers. A simple marketing strategy was created to correct his problem. The operator advertised extensively that for an entire day, the store would give away free ice cream to all the patrons. This outrageous initiative led to future profitability thanks to the goodwill and interest that was generated. I have also faced many hard-to-penetrate brick walls when trying to promote my services. Sometimes it felt like Mission: Impossible to get potential clients to recognize the value of my business. After a period of getting no positive responses to my proposals, I decided to present my service free of charge to some key 4

YOUR MONEY - An Entrepreneur’s Life

Cherryl Hanson Simpson

organizations. My outrageous offers were always accepted as they came with no financial risk; and they afforded me the opportunity to finally get paying contracts from my prospects.

First impressions are lasting While the outrageous offer can be a successful door-opener, it is really just a marketing tactic that needs to be followed up with an excellent service or product. It’s important to get it right the first time, so you have to wow your potential clients with your initial presentation.

Think strategically when you decide what you will present to them in your outrageous offer. You should be showing your prospects exactly why your product or service is vital to them, and creating a demand for repeat business as well referral contacts. In business, as in life, sometimes you have to give a little to get a lot. Don’t be penny-wise and poundfoolish when it comes to giving away some of your products or services. Create some excitement and interest in your enterprise by implementing an outrageous offer! © 2009 Cherryl Hanson Simpson

Cherryl is a financial consultant and coach, and founder of Financially S.M.A.R.T. Services. See more of her work at www.financiallysmartonline.com. Email Cherryl at advice@financiallysmartonline.com. Please add this address to your email address book in order to ensure you receive a response.


How to create a

Positive Connection on an Interview

So you have landed your interview… now what? It’s quite simple this is your time to make an excellent impression. You may have looked good on paper but now is your time to show that you are the ideal candidate for the job. How to make a lasting impression? Confidence is Key It is only natural to be nervous before and during the interview. However it is vital that you do not let this be demonstrated in the interview. Showing that you are nervous can cause you to stutter and fumble over questions. It is normal for you to feel nervous for the interview especially if this is your dream job. Before you enter the room, think positively perhaps you should imagine that the job is already yours. Once you have relaxed you will be surprised how confident and comfortable you will feel during the interview. Body language Another important aspect of the interview is body language. It can show if you are reserved, dishonest, timid or confident. Please ensure that you do not: 1. Slouch, this can reflect laziness or lack of confidence. 2. Talk with your head down or over gesticulate, it can become distracting. 3. Sit with your arms folded, it makes you seem unapproachable. However, it is important that you maintain eye contact during most of the interview. Be prepared to answer key questions You would be surprised that most interviews ask similar questions to determine your work ethics, personality and efficiency. According to Peter Veruki (Director of Career Planning and Placement at Vanderbilt University) they will come from twelve categories. These include: • • • • • • 6

Passion for the business Motivation and Purpose Skills and experience Diligence and Professionalism Creativity and Leadership Compatibility with the job

YOUR MONEY - Life Style

By: Kimberly Taffe • • • • • •

Personality and cultural compatibility Management Style and Interpersonal Skills Problem Solving abilities Accomplishments Career Aspirations Personal Interests and Hobbies

Feel free to ask questions during the interview, it may help to ease the tension as it may make the interview more conversational. Attire Not all employers expect you to dress in a formal/ executive suit. There are a few businesses that also incorporate casual attire. However, you can never go wrong with a suit, it is better to be over dressed than underdressed. It is important to keep in mind that what you wear says a lot about you. Therefore: • Choose colours that compliment your complexion. • Wear comfortable shoes and limited Jewelry • Wear a mild or limited amount of perfume/ cologne.

Poll Question A poll was conducted with persons within the workforce about job hunting strategies. The results are shown below:

What is the best method to prepare for a job interview? a) b) c)

Do research about the company prior to the interview 40% Practice questions you think they may ask with a friend 40% Read books on what to expect at job interviews 20%

40% 40% 20% 100

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Credits Publisher eZines Limited Managing Director Tyrone Wilson Your Money Reporters Shari Lyew Kenarthur Alexander Mitchell Kimberly Taffe Columnist Cherryl Hanson Simpson Design and Layout Omar Phinn

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Your Money eZine  

February 18, 2009 Issue

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