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About Us          



These "Management Files" are mainly for Middle & Senior Management and Business Owners. The various topics are meant to remind and to stimulate management thought.


Please note: Our firm does not carry-out or furnish research in these areas. This area of our web site is available only as a public service to foster thought and better management in today's fast-paced environment when the human factor of business is often taken for granted and/or even overlooked.

We are not a source of facts.

 

 



Management Styles
Supervisory Approach
Management - Miscellaneous
Communication-Verbal/Listening
Communication - Non-verbal
Creative Process
Creativity
Staff Motivation
Problem Employees
Personal Crisis -Indicators
Work Related Values &
Work Environment

Meetings
Presentations
Marketing Assessment
Prospecting
Customer Service

Management Files - main mage


      MANAGEMENT AND MARKETING


Marketing Assessment

  —   Can your management team answer the following?
            - Who are your best customers?
            - How can you attract more clients whose buying behaviors are similiar to your
              best clients' buying behaviors?
            - When applicable: Who are your credit and cash clients? Where are they located?
              What key factors drive the their buying decision-making process?
            - Which products and/or services do existing clients value the most?
  —   Profile your loyal and best clients then develop a model to predict their
         propensity to purchase promoted products and/or services.
  —   This information collecting and client profiling offers a tool with which to build
         stronger ties with current clients, while analyzing and developing
         strategies for identifying and acquiring new clients.
  —   It is imperative to understand what drives consumer behavior. "Business as usual"
         thinking must be replaced with one driven by market intelligence.
         Understanding and using changes in purchasing preferences should
         drive marketing strategies.
            - What is the importance of the products'and/or services' features?
            - What features would a consumer give up in order to obtain another feature
              e.g., low price for convenience)?
            - What is the ideal offering from the target prospects' point of view?
            - What is the appropiate combination of features and services that will maximize
              sales and profitabliity for your target segments?
  —   Use focus groups to stay current with client and prospect needs and interests.
  —   When presented with different product and/or service alternatives, customers
         assess the differnet attributes present in each offering and
         attach an importance ("weight") to each.
            - They then choose (if available) that offering which has the highest
              importance/weight or utility to them.
            - This is not always a conscious process. They will not always be able to
              discuss the importance of each feature.
            - They should be able to discuss which alternatives they prefer over others.
  —   Identify opportunities for improving image, product/service definition and
         competitive positioning. Compare these items to that of your competitors.
  —   Positive companies weave market intelligence throughtout all layers of the
         company, to rather than react to change. Collect preference data, initiate, track
         competitors' activities and monitor the economic environment to provide
         continuous information.
  —   When a new product/service surfaces in the market - react - do NOT assume that
         it can not have any impact on your firm.
  —   Look for potential future trends and how your firm is situated to react to them.

New Product / Service Strategy

      Effective team work = efficiency of time + money = effective outcome

  —   Departments involved must make an effective team.
  —   Quick, effective development requires:
            - Close cooperation among design, manufacturing and marketing -
              more than most companies are accustomed to experiencing.
            - Management that is able to choregraph the proceedings.
  —   Companies that continue to have design teams "toss" new products to
         manufacturingand marketing, risk adding critical time to development -
         competitors may have more effective, cooperative development teams.
  —   Do not leave the clients and prospects out of the process.
            - Use focus groups that include clients and prospects.
              Discuss their interests and unfullfilled needs.
            - Why develop something that the market is not interested in purchasing.
            - Many new product design mistakes have been eliminated before going to
              manufacturing - saving time and money.
            - Often only modifications or repackaging is needed.
            - Occassionally, the whole project needs to be discarded.



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Thursday, March 28, 2024


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