Wednesday, 31 October 2012

Brand switching



Brand switching is when a consumer or group of consumers switches their preferences from one brand of a certain type of product to another. This brand switching may be temporary, (example: if Pepsi be not available at the shop a consumer may buy Coke as his next preference) or it may be longer lasting, perhaps for example in the case of products that last longer or from which switching away is harder.

 
Sometimes Brand switching is known  as Brand jumping,  is the process of choosing to switch from routine use of one product or brand to steady usage of a different but similar product. Much of the advertising process is aimed at encouraging brand switching among consumers.

Convincing consumers to switch brands is sometimes a difficult task. It is not unusual for customers to build up a great deal of brand loyalty due to such factors as quality, price, and availability. To encourage switching brands, advertisers will often target these three areas as part of the strategy of encouraging brand switching.

Price is often an important factor to consumers who are tight budgets. For this reason, advertisers will often use a price comparison model to entice long time users of one brand to try a new one. The idea is to convince the end user that it is possible to purchase the same amount of product while spending less money.

Tuesday, 30 October 2012

Missing links in Education System


Missing links in Education System

 

Q. Why India is still a developing country and what is stopping it from being a developed country? (This particular question strikes me every time.)

 
Ans.   Indian Education System.

          It is based upon British Colonial Education System (Macaulay’s Minute) came in 1835 to produce Scribes. And that was conspiracy with India.

Missing links at School level:-

      ·        Teachers are not trained. They are not psychologically firmed.

·        Untrained teachers  are 54.91% in private, compared to 44.88% in government schools.

·        No. of Teachers are below the par.

·        Still they believe in traditional approach of teaching. They believe in stopping of questions instead of answering.

·         They don’t give equal opportunity to students, they believe in favour.

·        Max. Student come to school only for showing.

·        Subjects are not well described among students.

·        Students are not focused

·        There is lack in infrastructure of schools.

·         59% of the schools had no drinking water and 89% had no toilets.

·        Private schools are very expensive and do far from poor.

·        Different School Examination Boards having different examination patterns, which create disparity among students.


Missing links at College level:-

·        Teachers are not well qualified, in colleges there is need of PHD scholars.

·        57% of college professors having lack either a master's or PhD degree

·        No. of teachers don’t want to teach.

·        Teachers only teach subjects not its applications.

·        If they be on contract, they are poorly paid.

·        90 per cent of our colleges are rated as below average on quality parameters.

·        Students are not self motivated about studies.

·        They always influenced by their peers.

·        They select their courses as per their friends and choose in group.

·        Syllabuses are not well designed.

·        There are a lot of structural disparity among syllabus of different streams (Arts, Commerce, Science, Medical, Engineering).

·        85% of general graduates are unemployable.

·        75% of technical graduates are unemployable

·        And more than  57% of MBAs are unemployable.

·        Examination patterns of Universities are not good; it is moreover easy writing type.

·        Appointments, including that of vice-chancellors, have been politicised and have become subject to caste and communal considerations, there are complaints of favouritism and corruption


Missing link at Research level:-

  • Students are not motivated about Research level studies.
  • Since Research is cumbersome task so, students don’t want to do; even they don’t think to do.
  •  University (max.) don’t give stipends to their Research Scholars.
  • For doing research work there is need of good Guides but they are not available.
  • Guides (max.) expect favour always from Scholars.
  • Maximum researches are just copy-pest work.

Suggestions:


For Parents:-

·        Parents’ participation is necessary for building of future of our country.

·        They should understand their children motivation.

·        They should not force for making choice, but should give suggestions.

·        This is marketing era, so schools and colleges are also acting like profit making institutions, so Parents should not take part in blind race.

·        Parents should not only praise result but also efforts.


For Teachers:-

·        Teaching is like social work then after profession; if teachers having some other motive then they should not come in this profession.

·        Teaching is above than any profession; because it effects directly to the society. They should not be biased.

·        Teachers should be trained and well paid.

·        At college level, Teachers should be UGC-NET qualified/or having PHD.

·        Teaching is an art so teacher should teach in innovative style; pictorial way of teaching is very good.

·        Teacher should make cordial relationship with students.


For Students:-

  • Students should bear good moral and character.
  • They should obey instructions of teachers.
  • They should make good relations with teachers.
  • For making choice of subjects they should conscious and then after they should be firm over there.
  •  Students should think about some social responsibility.
  • Students should think about Research work and higher studies.

For Syllabus:-

  • Syllabus should be up to date as per international level.
  • In Arts subjects there should of application part.
  • Each subject should be designed as per Case study basis. So that there should be equal importance of all the streams.
  • A few subjects like Philosophy, Psychology, and Sociology etc. should not teach at Junior college level. These are much matured subjects than students.
  • Graduation should be of 4 years and semester wise.

For Examination and Evaluation  pattern:-

  • Examination should be faire and free from the entire flaw.
  • Today’s Examination pattern only judges IQ of the student, but we are made up of the IQ, PQ and EQ.
  • Questions should be both subjective and objective.
  • Marks should give on percentile basis. Grading system is also good there.
  • There should be open book system in examination.

For governing Bodies:-

  • For managing the things governing bodies are most important.
  • Governing bodies should take guard about political interference in Educational institutes.
  • Ragging should be abolishing from educational campus.
  • They should always ready about new positive initiatives.
  • They should be careful about Educational session and publishing of result.

 

Monday, 29 October 2012

We were taught..... but!


  • 85% of general graduates are unemployable.
  • 75% of technical graduates are unemployable
  • And more than  57% of MBAs are unemployable

Sunday, 28 October 2012

Business Strategy


Business Strategy

Business:-

  • The activity of making, buying, selling or supplying goods/ services for profit maximisation.
  • It comprises with Idea, Asset and Income.
  • Every idea is not business idea.
  • Business idea is an Idea which meets the unmet need of a market at profit.
  • Business Model  => Idea+ Asset+ Income
  •  Low price always for a galaxy of products that most people need or want (Wall Mart)

Strategy:-

  • A plan and its movement that is intended to achieve a particular purpose.
  • The process of planning something or carrying out a plan in a skilful way.
  • This word comes from Military.

 

Business Strategy:-

·        Describes how a particular business intends to succeed in its chosen market place against its competitors.

·        A course of action or sequence of action towards achieving the objectives.

·        Shows how a Firm compete within an industry.

·        It is a selection of ideas and assets to meet our Long term goal.

·        It is a designed frame work within which all plans execute.

·        We can say it is an array of  decisions which designed to execute at particular time

·        It is like full proof war strategy( Defensive warfare, Offensive warfare, Flanking warfare and Guerrilla warfare )

·        Making cartel is one of the advance Business Strategy.

 

Constituents of Business Strategy:-

  • Scope
  •  Resources
  •  Uniqueness
  •   Synergy.

Scope:-

  • Scope refers to Functional, Geographical, Product/ Service and Relational limits.
  • Functional limits- marketing, Production etc.
  • Geographical limits- market covered.
  • Products limit- Product line and range.
  • Relational limit- business dealings are internal or external
  • So, Scope refers to span of activities of the Organisation.

Resources:-

  • Domestic or Foreign capital
  • Fresh equity
  • Raw materials
  • Senior or Middle level of employee
  • In house R&D or outsourced R&D

 

Uniqueness:-

  • Shows distinctive competence over competitors.
  • Shows the advantage over competitors.
  • Uniqueness comes due to different Vision and Missions of the Firm.
  • Alternative Plans
  • Close through customers through Retail chains, Speed of action, Internet and Technology

Synergy:-

  • Refers to combinations of sub systems within an organisation, which are sufficient to achieve the objective.
  • Means instead of single, working together.
  • Company to company relationship is also an example (making Cartel).

 

Strategic Mix and Strategy Formulation:-

  • Strategic Mix having 3 levels; Corporate, SBU and Functional level
  • Corporate level- Charted for whole organisation, Deals with “What to do”, It is a Grand Strategy, Retrenchment of Strategy, Curtailment of Goal
  • SBU(Strategic Business Unit) level- Concerned with “ What to do for particular Unit”; Defender, Reactor, Analyser and Prospector Strategies
  • Defender Strategy- Satisfied with present situation; Market leader; perhaps in niche market; don’t want to take risk; they are market leaders.
  • Reactor Strategy-No opportunities perhaps threats are faced
  • Analyser Strategy- Firm is not silent; modifying course of action; want to take risk; new companies
  • Prospector strategy – looks for new opportunities; imbibe with old and modern working culture.
  • Functional level- Concerned with “ How”; Functional areas like Marketing, production, Finance, Personnel, and R&D
  • Board of Directors and CEO formulates corporate level strategy, The CEO and Functional heads formulates Business unit level Strategy and Functional heads and his subordinates formulate Functional level strategy.

Saturday, 27 October 2012

Some facts from Market

     .

In particular category where competition already exists then it is very hard to be leader in such category. So, it is better to create new category and which be at least supplement of that existing category.

It is always advantagious to come first in the specified market. Being first in the market is better than having a better product than competitors


Company should not only think about to be first in the market but also to be first in the consumer's mind.
Marketing is all about perception. How people perceive products,success rate of that product is depend upon perception. Perception hardly change.
A company should focus about products and the category in which dealing. If company be not market leader then span of category should be narrowed.
If a particular word is already used or owned by a competitor then other should not copy of that because that represent a concept of synonymous for that company.
Marketing planning depends on company's position in the market. Being no.3 in market is not safe.
In long run perspective every category/market is like two horse race.There are always two leaders in the particular market.
If a company be second at place in the market then company should find weakness in strength of the leader and try to be diffrent instead of trying to be better than the leader.
By passing of time category of market can divide in sub categories. So, new companies should try to be leader in diffrent subcategories.A leader of particular sub category can be leader of other one category or may dominate.
Marketer always think about long term planning instead of short term profit.Marketing effects depends upon extended period of time.
At maturity of products instead  of create new brand, marketer should think about productline extension.
Companies should give up something in order to get maximum. There are three things to sacrifice - product line, target market,constant change
For every attribute there is opposite and effective attribute. Here opposite means similar  don't do.
It is most effective ways to get into a prospect's mind is to first admit a negative and then twist it into a positive.
In overall cases , only one brand of a company from same product line would be market leader.Trying hard is not a gurranty of success, there should be smart work as well.
To compete with competitors , a company should predict future of product or market as well as competitors plan. marketing strategies should be flexible to respond with changing situation.
Success often leades to arrogance and arrogance to failure. Comapnies should be objective.
Things should be droped, if they do not work instead of trying again and again.
Hype promotes awareness about product and often failed productes are heavily hyped.
Successful plans or long term plans are built on trends not on fades.Fades are like short time activity which can be or can not be occure at particular time interval, like fashion.
Money makes the market. Adequate funding is necessary for an idea to be successful in market.

         
   

Friday, 26 October 2012

Subject matter of Mrketing

  • Goods
  • Services
  • Experiences
  • Events
  • Persons
  • Place
  • Assets
  • Organisation
  • Information
  • Ideas