Market Research or Market Survey Report

Market Survey (important points which required for Report)

Introduction: In which the end products, end users and its suitability and strength of selecting particular product should be mentioned.

Product: In this section the product specifications, sizes, brands, packaging and selling price etc.

Assessment of Demand: Demand and supply is the key of the market strategies this section will broadly cover the following points.

• About the consumer and clients Class and Type.
• Pattern of Consumption and Frequency of purchases.
• Product life cycle and present status
• Past Demand Pattern
• Future anticipated demand projection
• Buying criteria and influencing factors

Supply position: Current availability of and production capacities vs. utilization and

Present indigenous and imported supply sources, their price comparisons, services etc.

Market Practices: Present prevailing marketing practices

- Distribution, Packaging and forwarding, Credit policy, Delivery, after sales service

- Selling price, taxation structure and commission patterns

- Purchasing procedures, time and practices prevailing

Own Market Plans and Strategies

- Own market share of supply- demand gap

- Strength and special services to be offered if any

- Possible clientage and their likelihood of buying from you

The above points are required to cover the market survey.

How to Build the relationship (Marketing management Part4 )

As we have already discuss the three parts of the Marketing Management in which we discuss about the
1. need of the Marketing Management
2. Marketing Strategies.
3. Design the Marketing Program

In 4th part we will discuss about the how to retain the Customer for long time.

The big question for this will be:

How do you build long term, mutually beneficial relationships with key customer, channel members and suppliers?

This question will give the answer how to retain the customer.
To support the answer following points will be include.

* share of wallet
* Credible commitments
* Customer Relationship management
* Data ware house and Mining
* Market Basket Analysis
* Customer Pyramid
* Lifetime Customer value
* Cross selling
* Add- on Selling

As we know that this is era of the Information Technology. So with use of the CRM we can maintain the big data to continue follow up and feed back of the customer.

This article is useful for the students and Professional who is involve in the Marketing Management.

Interview Tips

Interview Tips

If you have a job interview coming up, then here are some winning tips:

Be prepared
Arrive early
Dress smart
Breath deeply to relax
Give a strong hand shake
Ensure eye contact
Listen carefully
Think before speaking
Accentuate your voice
Laugh at the right times
If you’re feeling confident, ask if you’ve got the job!

Design The Marketing Plan: Part 3:

Design The Marketing Plan: Part 3:

When we ask the question; How do you determine the 4P’s of the “Marketing Mix”-Product, promotion, place and price?

The answers which arise from the above equation cover the following headlines.

• Conjoint analysis.
• Product Life cycle Analysis
• Brand Equity
• Promotional Mix
• Distribution Channels
• Time, pace and form value
• Atmospherics
• Pricing strategies

Talent Management: Roles of the Human Resource Development in challenging scenario.

Talent Management: Roles of the Human Resource Development in challenging scenario.

Now days the recruitment is the toughest job of the company and to retain this is the biggest challenge:

Basically the HR is dividing in mainly in three parts:
i. Recruitment and Staffing
ii. Training and Development
iii. And most important Retention Management

i. Recruitment & Staffing:

Talent pool strategy rather than higher for specific positions.
Highly selective hiring process.
Develop the close relation with professional institutes to develop the time to time inputs to the students.
Develop the global branding among the employee to provide them exposure and training.
Focus on values and culture rather than to stick with routine job related skills.
Continuous monitoring and feedback for performance and potential of individual.
Grading against competency profile of successful leaders.
Use of talent inventories for selection/succession.
Different talent pools (Executive/specialist).

ii. Training & Development:

To develop the culture and give the top priority and deeply ingrained to leadership development.
Promotion policy should be within policy.
Continuous assessment of training needs and feedback.
Individual development plans should be live to succession planning process.
Sr. Manager should be the mentor and trainer for the new comer.
Job rotation and international exposure should be career development tools.

iii. Retention Management:

Personalized career plans.
Flexible working arrangement.
Priority to senior management.
Highly competitive compensation.
Continuous monitoring of attrition.
Diversity programme designed to develop, retain and promote diverse talent.

The above process should be only for the company which involved in brand building and entering in the global market.

TePP Before You Apply - Check

Before you apply, check your progress in meeting the following requirements
1. Identifying Customer Needs ( What do users want?)
Identify the users and buyers.
Gather raw data through interviews, focused group and observations.
Interpret raw data to understand needs.
Identify the important / pressing needs.
Cross check the perceived importance with user groups.
Reflect on the process to improve understanding of customer buying behaviour.

2. Generate Product Concepts ( How to meet the need ?)
Decompose problem, state the output and corresponding inputs.
Search for solutions that transform inputs into the desired output ( discuss with lead users, benchmark with competing products, take advise of experts, read patents & literature).
Generate many concepts - creativity lies in identifying alternatives.
Check to see whether different concepts can be combined to come with an unique solution.
3. Select concept ( Why is it better?)

Perform concept selection for each of consumer group.
The goal of concept selection is not to press ahead with the pre-conceived idea.
The goal is to develop the best concept.
Refine the concepts to develop the better ones.

4. Communicate the concept ( Do I share my idea clearly ?)
You can communicate with :
Verbal description.
Sketch
Photograph / video of previous work.
Computer simulation of system.
Physical model.

5. Why I need a prototype ( Check the roadmap to commercial production)
For demonstrating proof-of-concept to check the feasibility.
For demonstration – to improve design with feedback .
To test hardware and later with software.
For integrating sub-systems into a system model.

A day in the Life of B- School Students

A day in the Life of B- School Students

As we know that the daily routine of the students during the college is really very exciting. May be some of the college students can opt this routine for learning as well as for Fun.

7:00 am – Review notes for the 1^st class.

7:30 am - Eat some high energy flakes cereal, read the business news paper like Business Times (professor likes to discuss news items that relate to the class topics).

8:00 am Read review for quantitative methods exam, do practice problems reread case on control system for organizational behavior class.

9:00 am- Arrive at school go to “reading room” to hang out with everyone. Check student’s mailbox for invitation to recruiter events.

9:30 am- Integrative Management Class: Guest speaker from Case study discuss how the company approached the problems.

10:45 am - Hang out.

11:00 am – Organizational Behavior Class: get in couple of good comments: debate the effectiveness of a management decision with another student in class.

12:15 pm – Get some lunch and grab with some friends. Talk about the lousy cafeteria food and who’s dating whom.

2:00 pm- Microeconomics class: listen to lecture on monopolistic competition.

3:15 pm- Arrive at home, change into workout cloths. Go running, lift weight and relax.

6:00 pm- Eat dinner; watch the news read the next day’s case study.

7:45 pm- Meet up for group study session; help each other with home work problems on interpreting regression statistics discussion how to account for capital losses vs. operating losses.

10:00 pm- Back at home review more cases, read next class assignment in text book.

Midnight- watch a letterman” till asleep” board room dream.

Phase I: TePP Project Fund

Phase I: TePP Project Fund
Eligibility
· Any Indian citizen having an original idea/invention/know-how can apply. These proposals can be made by independent innovators or by start-up firms.
Scope & Support
· Proposals to convert an original idea/invention/know-how into working prototype/process.
· Proposals to demonstrate novel delivery models to take S&T innovations to rural India.
· Maximum support under this category is Rs 15,00,000/- subject to 90% of approved project cost.
Mechanism
· Initially, the proposals will be screened at the point of receipt by TePP secretariat or TUC.
· The proposals after initial Screening are assigned to officers at DSIR and TIFAC(DST) for evaluation or will be evaluated by the concerned TUC.
· The evaluated proposals are put forth to TSC for consideration. The TSC recommends the proposal for TePP support, while TPB gives approval for TePP support on file for release of necessary grant.
· The applicant has to sign "Terms & Conditions" prior to the actual release of grants-in-aid.
· For grant above Rs 5 lakhs, project will be divided into phases with clear deliverables at the end of each phase. The project will be continued into the next phase only if the performance in the preceding phase was satisfactory.
· The first release is based on assessment of need by TSC and subsequent releases are based on assessment by project monitoring committee/ authorized TUC.
· Project completion/ closure will be reported to TSC for feedback and record.
Limiting conditions
· The proposals involving software development, only patenting and for basic scientific research having no immediate commercial implications will not be accepted for consideration under TePP. Software Embedded projects and patenting along with prototype development are eligible for support. Innovative S&T delivery models will also be eligible.
· Faculty/student research projects will not be supported, however faculty start-ups and student entrepreneurs will be eligible if they have the right to commercially exploit the technology.
· Proposals of grass root innovators, herbal products (developed by grass root innovators), school children projects will be taken by NIF and not under TePP. Proposals to scientifically test the efficacy and toxicity of herbal formulations developed by innovator (other than grass root innovator) will be eligible for support. Process standardization will also be eligible for support after proving efficacy and non-toxicity.
· The proposals from the owner of a ‘Start-up’ company/industry may be considered for TePP support, if the annual turnover of the company/industry doesn’t exceed Rs. 45.00 lakhs per annum.
· Individuals working in organizations & having innovative ideas may apply for TePP support by furnishing a ‘No Objection Certificate’ from their employer.
· Manpower costs are based on actual & not exceeding 20% of the total project cost. Innovator’s salary and rental expenses for use of own facilities are not eligible for support.
· Travel costs are based on actual & not exceeding 5% of the total project cost.
Phase II: Supplementary TePP Fund
Eligibility
· Innovators who have successfully completed TePP Phase-I projects are eligible. These proposals can be made by individuals or jointly with their business partners.
Scope & Support
· Proposals aim at improving transferability potential of innovations supported under Phase-I, by carrying out such value added work like adding product features, protection by patenting, aesthetic design etc, as desired by business partner.
· Maximum support under this category is Rs 7,50,000/- subject to 90% of approved project cost.
Mechanism
· Proposals will be submitted to TePP and will be screened and evaluated by TePP officials at DSIR and TIFAC.
· The evaluated proposals are put forth to Screening Committee for consideration. The
· The applicant has to sign "Terms & Conditions" prior to the actual release of grants-in-aid.
· TePP Screening Committee(TSC) recommends the proposal for TePP support, while TPB gives approval for TePP support on file for release of necessary grant. The first release is based on assessment of need by TSC and subsequent releases are based on assessment by project monitoring committee/ authorized TUC.
· Project completion/ closure will be reported to TSC for feedback and record.
Limiting conditions
· Only TePP Phase-I innovators are eligible.\
· There is a need to involve Business partner.
· Funds will be released to Innovator.
· Manpower costs are based on actual & not exceeding 20% of the total project cost. Innovator’s salary and rental expenses for use of own facilities are not eligible for support.
· Travel costs are based on actual & not exceeding 5% of the total project cost.




TePP Prototype Centres
Scope
· Several organisations like design houses, technical institutes, incubators, engineering workshops are providing design and fabrication services to innovators, lacking those facilities and capabilities. Few of them will be selected and notified as TPC.
· TePP Prototype Centres offer a singe window service to TePP innovators to convert their idea into a function proving prototype.
· Services of these centres will be made known to the innovators.
· Where there is an agreement between innovator and TPC, it will form part of proposal submitted by innovator to TePP
· In the event the proposal is accepted for support then TePP will release prototyping charges direct to the TPC as a part of TePP support to the innovator.
Compensation
· Proposals will be invited by advertisement
· TPC will be selected by TSC.
· Intellectual property rights will remain with Innovator.
· TPC will enter into a NDA (Non Disclosure Agreement) with TePP.

TePP( Technopreneurship Promotion Program)

Phase I: Micro Technopreneurship Support
Eligibility
· Any Indian citizen having an original idea can apply. These proposals can be made by independent innovators.
Scope & Support
· TS is for micro budget innovations and is also given as initial support to TPF applicants to work further on their ideas to the point they can be considered under TPF.
· Selected projects will be provided financial support to initiate a promising development, prove functionality by a lab model/ computer model/mathematical model, apply for patenting etc.
· Maximum support under this category is Rs. 75,000/- subject to 90% of approved project cost.
Mechanism
· Initially, the proposals will be screened for completeness at the point of receipt, by TePP secretariat or by the coordinators of TUCs (TePP Outreach centres).
· The proposals after initial Screening are assigned to officers at DSIR and TIFAC (DST) for evaluation or evaluated by the concerned TUC.
· Complete and evaluated proposals will be discussed in the TSC (TePP Screening Committee) and those recommended for support by TSC will be submitted on file to TePP Promotion Board (TPB) for approval and finally sanction will be released to those that are approved by the Board. The applicant has to sign "Terms & Conditions" prior to the actual release of grants-in-aid.
· The first release is based on assessment of need by TSC and subsequent releases are based on assessment by project monitoring committee/ concerned TUC. Each of approved projects will be monitored by TUC/ other network partner by including technical expert(s). TUC will be periodically reporting project status to the TSC.
· Project completion/ closure will be reported to TSC for feedback and record.
Limiting conditions
· The proposals involving software development, only patenting and for basic scientific research having no immediate commercial implications will not be accepted for consideration under TePP. Software Embedded projects and patenting along with prototype development are eligible for support. Innovative S&T delivery models will also be eligible.
· Faculty/student research projects will not be supported, however faculty start-ups and student entrepreneurs will be eligible if they have the right to commercially exploit the technology.
· Proposals of grass root innovators, herbal products (developed by grass root innovators), school children projects will be taken by NIF and not under TePP. Proposals to scientifically test the efficacy and toxicity of herbal formulations developed by innovator (other than grass root innovator) will be eligible for support. Process standardization will also be eligible for support after proving efficacy and non-toxicity.
· The proposals from the owner of a ‘Start-up’ company/industry may be considered for TePP support, if the annual turnover of the company/industry doesn’t exceed Rs. 45.00 lakhs per annum.
· Individuals working in organizations & having innovative ideas may apply for TePP support by furnishing a ‘No Objection Certificate’ from their employer.
· Manpower costs are based on actual & not exceeding 20% of the total project cost. Innovator’s salary and rental expenses for use of own facilities are not eligible for support.
· Travel costs are based on actual & not exceeding 5% of the total project cost.
· TS is not an award for work done but a grant for work to be done.
Phase II: Seamless Scale-up Support for TePP
Eligibility
· Innovators who have successfully completed TePP Phase-I projects are eligible. These proposals can be made by individuals or jointly with sponsoring organizations
Scope & Support
· Proposals aim at incubating enterprise promoted by TePP Phase-I Innovator. Activities aim at improving market access of innovations supported under Phase-I, by carrying out such value added work like adding product features, protection by patenting, aesthetic design, limited production for market seeding etc, as per approved business plan.
· Maximum support under this category is Rs 45,00,000/- subject to 50% of approved project cost.
Mechanism
· The innovators will be presenting their achievements in Phase-I and plans for commercialization to TePP
· The proposals are assigned to officers at DSIR and TIFAC(DST) for evaluation.
· The evaluated proposals are put forth to TSC for consideration. The TePP Screening Committee(TSC) recommends the proposal for TePP support, while TPB gives approval for TePP support on file for release of necessary grant.
· To facilitate `financial closure’ the innovator will be given letter of intent, based on which innovator can firm up agreements with banks/ institutions to raise innovator’s part of resources.
· After Financial closure, the applicant has to sign "Terms & Conditions" prior to the actual release of grants-in-aid.
· The first release is based on assessment of need by TSC and subsequent releases are based on assessment by project monitoring committee/ authorized TUC.
· Project completion/ closure will be reported to TSC for feedback and record.
Limiting conditions
· Only TePP Phase-I innovators are eligible.
· There is a need to submit viable Business plan .
· TePP support will not exceed 50% of approved project cost subject to ceiling of Rs 45 lakhs and innovator need to raise resources for balance of the project cost. This arrangement has to be made before release of first sanction by TePP.
· Funds will be released to Innovator.
· Manpower costs supported will not exceed 20% of the total grant amount. Innovator’s salary and rental expenses for use of own facilities are not eligible for support.
· Travel costs supported will not exceed 5% of the total grant amount.

Part 2: Key strategies for Marketing Management

Part 2: Key strategies for Marketing Management

As we have already discussion about the needs and wants of the customer. After the customer needs and wants How to go for other big marketing strategies questions:

How do you target and segment the Market?
How do you position a product or services?
How do you use Marketing to build a sustainable competitive advantage?

Above these questions are use to help to go for the STP (segmentation, Targeting and Positioning).

As we have sufficient information and data in two format primary data and secondary data. These data are used to make the Marketing strategies depending on the above two questions.

By the above question we will get the following main headings like:

Ø Target Market
Ø Market Segmentation
Ø Mass Customization
Ø Composite segmentation plans
Ø Customer Loyalty
Ø Positioning
Ø Perceptual Map

Even though depending on the marketing strategies five determinants play very important role in customer perspective:
i. Reliability
ii. Assurance
iii. Tangibles
iv. Empathy
v. Responsiveness.

These are the points which are required to discuss about the Marketing strategies…

Key conccepts of the Marketing Management (part 1)

Key Concepts of the Marketing Management:

“The purpose of business is to create and retain the customer.” Peter Ducker

Marketing management is the main tools of the business. Marketing is the set of activities within the enterprise or organization designed to plan. Price, promote and distribute products to target markets.

So the first question which arise in marketing management is

What are the customer’s needs and wants?
And how do consumers go about their decision?

The above questions answer will give the results on these parameters-
Features vs. benefits
Customer value
Customer satisfaction
Market research
Market intelligence
The decision making units
The decision making process
Consumer Involvement


There are eight parameter where three parameter based on customer’s, another two parameter based on the information and data collection by survey another three parameter define the decision making methods of the consumer.

For example kids need will be decided by the parents etc.

Business Planning

Planning is the strategies to win the game.
Similrly the Business Planning is the winning plan. Their are some common mistakes which occur during the Business planning and Implementation.
As we know that Business Planning is theoratical part while the Implemantation is practical conditon.

Some of the common mistakes occur during the Business planning.

* No clear objectvie- Some time in the business planning they deviate from the path. Becouse before going to make the next step just review the past phase of the project.

* No proper Marketing plan: some time they mentioned all the marketing plan without adding practical marketing strategies or they have no clear cutt path how to achieve the marketing pla.

* Overestimation of the revenue: Most of the Business planner are highly experience so they have some experience in flourished company. so their prediction are wrong during the revenue estimation for the new company.

* Lack of the viable opportunity:

* no proper prediction of the money appreciation. as we all know that current market scenario are changing rapidly but its difficult to predict the appreciation module.

* Copetition prediction

this is also very flexible condition in which the in initial case may be no main competitors availabel but in future amay be some highly strong competitors occurs in the market.

* Lack of consistency in Business plan: common planner should be bttter for the complete business paqllning module. Becouse everyone's observation is diffrent on common points.

so the plnner should be consistants.