BUSINESS MANAGEMENT METHODS

MARKETING MIX/ 7 p’s

The concept is simple indeed. Think about any mix in normal daily life for example a biscuit mix, all biscuits contain flour, sugar, milk and eggs however you can alter the final mix by altering the ingredients. So for sweet biscuit add more sugar. It’s same with marketing mix or 7 p's the offer you make your customer can be varied by altering marketing mix so for a high profile brand, increase the focus on promotion and desensitize the weight given to price. There are 4 basic marketing mix but can be increased by adding 3 more marketing mix elements. The first four marketing mix belong to tangible products and other 3 are belong to services. 1) Product 2) Price 3) Place 4) Promotion 5) People 6) Process 7) Physical evidence

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Posted by raza - June 5, 2011 at 7:52 AM

Categories: Business Analysis Tags: 3 p's, 4 p's, 7 p's, 7p s, marketing mix

Marketing Models

Marketing is concerned with identifying, anticipating and meeting the needs of customers in such a way as to make a profit for the organization. Market research is thus an important element of marketing because this is the process involved in finding out what customers want. There could be four models of marketing: Sales support: Marketing research is an important aspect of marketing because this is process involves finding that what customer want. That could be easily done by staying in touch with customer through telemarketing. Operational marketing/ tactical marketing: Once you know that what customer require. Meeting customer requirement then involves applying relevant marking mix. Operational marketing is all about applying marketing mix is most appropriate way

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Posted by raza - June 5, 2011 at 6:15 AM

Categories: Business Analysis Tags: marketing, marketing models

MARKETING

Definition of marketing: Marketing is a set of activities which contain Creating, communicating, delivering, a value, to target market, at some profit. Production focused: In early of 20th century there were only production concerns in organizations. Mainly overhead cost was low and production done by workers. There was no concept of mass production. Products were basic so all a company was producing it was easy to sale without any difficulty. Still there were huge demand which was UN filled. That concept was perfect for that time. every thing they produce was sold easily by sales team without any difficulty. Sales concept: But in around 1935 competition was increased by effective production facilities new technology and inventions. Increasing completion among organizations force them towards mass production. There was very little demand that was unfilled. Here comes the concept of advertising now companies were not only producing products but also trying to convince the customers to buy their products through advertising. Still company’s goal s was to compete in achieving sales there was little attention on actually what customer wants. Still organizations were producing products first then think to market these products through sales advertising.

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Posted by raza - June 5, 2011 at 5:01 AM

Categories: Business Analysis Tags: concept of marketing, definition of marketing, functions of marketing, marketing

SYNERGY

Meaning of Synergy is getting greater results than the result of sum of the parts. In other words getting more productivity from combined resources is synergy. If you want to put it in more simple way You can say 2+2=5.

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Posted by raza - May 12, 2011 at 4:53 AM

Categories: Business Analysis Tags: Financial synergy, Managerial synergy, Operational Synergy, synergies, synergy

BCG MATRIX

There is a fundamental need for management to evaluate existing products and services in terms of market growth potential. to evaluate existing products and services BCG matrix is an important tool. That model was developed by Boston consulting group in 1970’s.

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Posted by raza - March 21, 2011 at 10:15 AM

Categories: Business Analysis Tags: BCG MATRIX

Vertical integration

Vertical integration is linking of value chain of business unit to other business unit in way which will serve the same need of consumer. To which extent a firm hold upstream channel of supplier and its down stream buyers channel is called vertical integration. In any business value chain is an important strategic consideration and combination of two value chain (vertical integration) have a significant impact on any business unit in respect to cost, differentiation and other strategic issues

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Posted by raza - February 16, 2011 at 1:06 PM

Categories: Business Analysis Tags: value chain network, vertical integration

ANSOF Matrix

Igor Ansoff presented a model called Ansoff matrix which focus on markets and products of organizations (existing and potential).Ansoff matrix assists the organizations to map the products and markets growth. In order to make a worthy analysis therefore all factors must be consider into account like market conditions, rivalry, growth rate, maturity of market, resources and infrastructure etc. if we consider the growth strategies through existing products, new products and existing markets, new markets then Ansoff suggest that there are four possible product-market combinations as shown below.

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Posted by raza - February 16, 2011 at 12:55 PM

Categories: Business Analysis Tags: ansof growth strategies, ansof matrix, diversification, market development, penetration, product development

PEST/PESTEL ANALYSIS

PESTEL analysis is use to scan macro environment of industry as a part of strategic management. Mainly this is called PEST analysis as PEST comprises Political, Economical, Social, and Technological factors of macro environment. How ever some analysts add Environmental and Legal factors rearranging the mnemonic to PESTEL. PESTEL is a part of external environment scanning in strategic analysis process and provide a good overview of different environmental factors that an organization should consider.

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Posted by raza - January 18, 2011 at 4:58 PM

Categories: Business Analysis Tags: PESTEL

Porter’s Five Forces

This model was developed by Michael E. porter in his book. Since that time this model has become one of the major tools of analyzing the competitive environment of an industry. In any environment industry is facing competition for profit. According to porter there are five competitive forces that shape any industry and any market. These forces will determine that how intense the competition and also determine the profitability of industry. Corporate strategy objective should be to modify these forces in such a way that improves the organization profitability.

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Posted by raza - November 14, 2010 at 6:18 PM

Categories: Business Analysis Tags: five forces model, porter's five forces

underlying concepts of Corporate governance

Corporate governance is the system by which organizations are directed and controlled in order to achieve its strategic and operational goals. Corporate governance is based on the series of underlying concepts.

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Posted by raza - November 14, 2010 at 4:29 PM

Categories: Corporate Governance Tags: Corporate governance, underlying concepts of Corporate governance

MARKETING MIX/ 7 p’s

Marketing Models

MARKETING

SYNERGY

BCG MATRIX

Vertical integration

ANSOF Matrix

PEST/PESTEL ANALYSIS

Porter’s Five Forces

underlying concepts of Corporate governance

Value chain analysis

Mission statement

The Strategic Planning Process

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