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	<title>Management  &#187; Marketing Management</title>
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		<title>Marketing Myopia Definition, Example and Explanation &#124; Theodore C. Levitt Theory of Marketing</title>
		<link>http://management.thinkahead.net.in/marketing-myopia-definition-example-and-explanation-theodore-c-levitt-theory-of-marketing.html</link>
		<comments>http://management.thinkahead.net.in/marketing-myopia-definition-example-and-explanation-theodore-c-levitt-theory-of-marketing.html#comments</comments>
		<pubDate>Tue, 22 Dec 2009 18:12:38 +0000</pubDate>
		<dc:creator>manager</dc:creator>
				<category><![CDATA[Marketing Management]]></category>
		<category><![CDATA[Define Marketing Myopia]]></category>
		<category><![CDATA[Marketing Mypoia in 1960 in HBR]]></category>
		<category><![CDATA[Theodore C. Levitt's Marketing Myopia]]></category>
		<category><![CDATA[What is Marketing Myopia]]></category>
		<guid isPermaLink="false">http://management.thinkahead.net.in/?p=19</guid>
		<description><![CDATA[<p>Myopic, as the word itself has its meaning short sightedness . Marketing Myopia is an interesting as well as very  important concept introduced by US marketing academician Ted Levitt for marketing management. According to him,  most of the organizations  are not able to reach their potential and pave the way for their fall because [...]]]></description>
			<content:encoded><![CDATA[<div class="cm_filter"><p>Myopic, as the word itself has its meaning short sightedness . Marketing Myopia is an interesting as well as very  important concept introduced by US marketing academician Ted Levitt for marketing management. According to him,  most of the organizations  are not able to reach their potential and pave the way for their fall because of their myopic approach. which is  short sighted and self centered , they only focus on their firm or organization and its items/products in terms of their  so called aim of  fulfilling customer’s needs and wants. This concept was first discussed  by Theodore C. Levitt  in the article “Marketing Myopia” published in Harvard Business Review in 1960.</p>
<p>What he emphasized in this article was that companies should view the marketing from customers  point of view not from their  point of view. According to him “Sustained growth depends on how broadly you define your business—and how carefully you gauge your customers’ needs.” “Marketing Myopia” is the quintessential big hit HBR piece of all time. In it, Theodore Levitt, who was then a lecturer in business administration at the Harvard Business School, introduced the famous question, “What business are you really in?” .</p>
<p>He gave a emphatic example of  the firm and organization in the business of  railroads. As per his Myopic marketing theory this business did not stop growing because the need for passenger and freight transportation declined. That grew. It is  in trouble today not because that need was filled by others (cars, trucks, airplanes, and even telephones) but because it was not filled by the rail-roads themselves. They let others take customers away from them because they assumed themselves to be in the railroad business rather than in the transportation business. The reason they defined their industry incorrectly was that they were railroad oriented instead of transportation oriented; they were product oriented instead of customer oriented.</p>
<p>What he wanted to convey to  the organizations, was that they  must learn to think of itself not as producing goods or services but as buying customers, as doing the things that will make people want to do business with them.</p>
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		<title>Corporate Success, Importance of Innovation in Business Strategy</title>
		<link>http://management.thinkahead.net.in/corporate-success-importance-of-innovation-in-business-strategy.html</link>
		<comments>http://management.thinkahead.net.in/corporate-success-importance-of-innovation-in-business-strategy.html#comments</comments>
		<pubDate>Tue, 22 Dec 2009 18:11:31 +0000</pubDate>
		<dc:creator>manager</dc:creator>
				<category><![CDATA[Management Terms]]></category>
		<category><![CDATA[Marketing Management]]></category>
		<category><![CDATA[AT&T Mission Statement]]></category>
		<category><![CDATA[AT&T Strategy Statement]]></category>
		<category><![CDATA[Corporate Success Innovation]]></category>
		<category><![CDATA[Examples of Corporate Innovation]]></category>
		<category><![CDATA[Gillette Mission Statement]]></category>
		<category><![CDATA[Gillette Strategy Statement]]></category>
		<category><![CDATA[Hallmark Mission Statement]]></category>
		<category><![CDATA[Hallmark Strategy Statement]]></category>
		<category><![CDATA[Innovation and Mission Statement]]></category>
		<category><![CDATA[Intel Mission Statement]]></category>
		<category><![CDATA[Intel Strategy Statement]]></category>
		<category><![CDATA[Samples of Mission Statements]]></category>
		<category><![CDATA[What is Mission Statement]]></category>
		<guid isPermaLink="false">http://management.thinkahead.net.in/?p=17</guid>
		<description><![CDATA[<p>Today due to increasing competition and accelerated products and service development cycles, innovation factor is now taking the driver seat and playing crucial role in any corporate success. As per the research conducted by Forbes ,Ernst &#38; Young and the Wharton School of Business have found innovation to be the important value of any [...]]]></description>
			<content:encoded><![CDATA[<div class="cm_filter"><p>Today due to increasing competition and accelerated products and service development cycles, innovation factor is now taking the driver seat and playing crucial role in any corporate success. As per the research conducted by <strong>Forbes ,Ernst &amp; Young and the </strong><strong>Wharton School of Business</strong><strong> </strong>have found innovation to be the important value of any corporate either durable or non-durable companies. In fact results also show that half of the profit of most of the Giant companies of world comes from products launched in last 10 years.</p>
<p>So now, main concern of any company’s management strategy is to encourage innovation through different channel of their company and especially from <em><strong>R&amp;D</strong></em>. The best way that companies have found is to establish policies that support innovative process. So much so that, many companies have included the innovation in their mission statement. Some of the mission statement are following:</p>
<p><strong><em>Gillette:</em></strong><em> </em><strong>“We will </strong><strong>invest in</strong><strong> and master the key technologies vital to category success.”</strong></p>
<p><em><strong>Intel:</strong></em> <strong>“To succeed we must maintain our innovative environment. We strive to embrace change, challenge the status quo, listen to all ideas and viewpoints, encourage and reward informed risk taking, and learn from our success and mistakes.” </strong></p>
<p><em><strong>Hallmark:</strong></em> <strong>“ We believe that creativity and quality – in our concept, products and services—are essential to our success.”</strong></p>
<p><em><strong>AT&amp;T:</strong></em> <strong>“We believe innovation is the engine that will keep us vital and growing. Our culture embraces creatively, seeks different perspectives and risks pursuing new opportunities. We create and rapidly convert technology into products and services, constantly searching for new ways to make technology more useful to customers.”</strong></p>
<p>It is necessary that emphasis on innovation should be given by the people at top of the m management and process ought to be smooth to get it  reinforced throughout the company/corporation.</p>
<p>Besides that, management should not only encourage new product development but also need to ensure that innovation is taking shape with the consumer in mind. Because 33% to 60% of all new product that reach market is not able to satisfy consumer ,thus fail to make profit, Such drastic result are quite obvious in FMCG markets and one can easily sense it .  For example any new type of packaging and flavor make the same edible popular among consumer and the same time failure in some other edibles.</p>
<p>So for any Corporation/company/firm success is very much dependent upon their innovative strategy in producing their product and services.</p>
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		<title>Effective and Helpful Tips To Get Success in Sales and Marketing</title>
		<link>http://management.thinkahead.net.in/effective-and-helpful-tips-to-get-success-in-sales-and-marketing.html</link>
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		<pubDate>Tue, 22 Dec 2009 18:07:59 +0000</pubDate>
		<dc:creator>manager</dc:creator>
				<category><![CDATA[Marketing Management]]></category>
		<category><![CDATA[DIFFERENCE BETWEEN SALES AND MARKETING]]></category>
		<category><![CDATA[How to get Success in Sales and Marketing]]></category>
		<category><![CDATA[How to Groom Yourself For Sales and Marketing]]></category>
		<category><![CDATA[How to Speak or Converse For Sales]]></category>
		<guid isPermaLink="false">http://management.thinkahead.net.in/?p=13</guid>
		<description><![CDATA[<p> </p> <p>Before, I broach into this topic of Marketing and Sales, one thing must be kept in mind that people often intermingle and confuse themselves while talking about sales and marketing. Some think that both of them are similar and there is another group which loves to differentiate the two as completely separate and unlinked [...]]]></description>
			<content:encoded><![CDATA[<div class="cm_filter"><p> </p>
<p>Before, I broach into this topic of Marketing and Sales, one thing must be kept in mind that people often intermingle and confuse themselves while talking about sales and marketing. Some think that both of them are similar and there is another group which loves to differentiate the two as completely separate and unlinked concepts. However, it is apparent that both sales and marketing require almost same set of aptitudes and attitudes. For the sake of easy comprehensibility both the concepts have been discussed in same breath however, some basic and definitive differences between sales and marketing have been clearly mentioned in the concluding part of the document.</p>
<p><strong>What are the exact traits that can assure </strong><strong>your success</strong><strong> as sales and marketing professional and how you can develop them?</strong></p>
<p>Traits that can assure your success as a sales and marketing person are not much different from the traits that are required for success as politician, entrepreneur or Diplomat. When you will put a meticulous thought and analyze the stories of successful Politicians, Entrepreneur or Diplomat you can easily conclude that excellent communication skills, leadership’s skills, courage, conviction and quick decision making skills are key to their success. You can get added advantage if you possess excellent physical features and well modulated voice tone. It doesn’t require rocket science to find out that most of the people who created their legend in afore mentioned professions were also endowed with charisma that played crucial role in their success. Believe it or not charisma emanates from your voice and physical features and knowledge of the subject that you discuss with your audience.</p>
<p><strong>GROOM YOURSELF</strong><span style="text-decoration: underline;"> </span></p>
<p>Physical features doesn’t mean that you must be a hunk like Brad Pitt or innocuous beauty like Salma Hayek . Only, thing that you need to do is take care of your health, dress yourself in the right kind of attire and don’t make errors in your pronunciation while talking. To be frank hitting the gym regularly or going for aerobics can add some positive points for your success in your sales and marketing career. For developing communication skills a person must keep abreast with current events and trends and possess genuine interest of the culture of the target group.</p>
<p><strong>DEVELOP YOUR VOICE</strong></p>
<p>Nowadays, before you meet your client your voice precedes your face as prior appointment is the norm of this age and no need to elaborate that you get your prior appointment by calling your prospective client at his workplace or home. This fact clearly underlines the importance of voice quality in the sales and marketing career. Simple training in voice modulation exercise is always handy for developing the quality of voice and making it more sonorous.</p>
<p>Keep it in mind that while you are speaking open your mouth completely; your lips must touch each other only in case if you are pronouncing ‘f’ ‘p’ ‘ph’ ‘b’ ‘m’.</p>
<p>Practice biting your ‘v’ always, differentiates between ‘v’ and ‘w’. While you are pronouncing ‘w’ don’t join your lips just bring them close to each other.</p>
<p>Prounouncing‘t’ and‘d’ require slight touching of your palate by your tongue.</p>
<p>While pronouncing ‘r’ try to slightly roll your tongue while touching the palate.</p>
<p>Distinguish your pronunciation of   ‘sh’   and ‘s’ by practicing this simple tongue twister:</p>
<p>“She sells sea shell at the sea shore. “ <a href="http://thinkahead.net.in/learning_english/2009/08/definition-and-explanation-of-tongue-twister-with-examples/" target="_blank">(For more tongue twisters click here)</a></p>
<p>While pronouncing ‘sh’ your tongue touches the palate; whereas, pronouncing ‘s’ doesn’t require touching of the palate.</p>
<p>Another common error committed by people who speak English as second language is carelessness in distinguishing between ‘j’  and   ‘z’. Make sure that while you are pronouncing ‘z’ don’t touch the palate by your tongue it must touch the edge of your upper jaw.</p>
<p><strong>KNOW YOUR PRODUCT OR SERVICE THAT YOU ARE MARKETING OR TRYING TO SELL</strong></p>
<p>Your voice and appearance can get you the appointment and personal attention of the prospective client or customer but you can’t win the game unless you are well prepared with the information and facts which are related to your product or service. So always keep yourself prepared with the frequently asked questions and objection handling techniques which are specific for different products and services.</p>
<p><strong>DIFFERENCE BETWEEN SALES AND MARKETING</strong></p>
<p>Selling is one activity of the entire marketing process.</p>
<p>Selling is the act of persuading or influencing a customer to buy (actually exchange something of value for) a product or service.</p>
<p>Marketing activities support sales efforts. Actually, they are usually the most significant force in stimulating sales. Oftentimes, marketing activities (like the production of marketing materials and catchy packaging) must occur before a sale can be made; they sometimes follow the sale as well, to pave the way for future sales and referrals.</p>
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		<title>Marketing Communication Strategy Definition and Explanation, Marketing Study</title>
		<link>http://management.thinkahead.net.in/marketing-communication-strategy-definition-and-explanation-marketing-study.html</link>
		<comments>http://management.thinkahead.net.in/marketing-communication-strategy-definition-and-explanation-marketing-study.html#comments</comments>
		<pubDate>Tue, 22 Dec 2009 17:57:41 +0000</pubDate>
		<dc:creator>manager</dc:creator>
				<category><![CDATA[Marketing Management]]></category>
		<category><![CDATA[4 P’s of Marketing Management]]></category>
		<category><![CDATA[7 P’s of Marketing Management]]></category>
		<category><![CDATA[Gimmick Advertising]]></category>
		<category><![CDATA[Print Advertising]]></category>
		<category><![CDATA[Promoting a Product or Service]]></category>
		<category><![CDATA[Television Advertising]]></category>
		<guid isPermaLink="false">http://management.thinkahead.net.in/?p=10</guid>
		<description><![CDATA[<p>Marketing communications is the most integral part of Marketing Management  Strategy. Those who are aware of Marketing Management as a subject know very well that marketing  as a business activity is blend of  7 activities which are also known as 7 Ps.</p> <p>The 7 Ps of Marketing are following:</p> <p>Price, Place, Promotion, Product, People, [...]]]></description>
			<content:encoded><![CDATA[<div class="cm_filter"><p>Marketing communications is the most integral part of Marketing Management  Strategy. Those who are aware of Marketing Management as a subject know very well that marketing  as a business activity is blend of  7 activities which are also known as 7 Ps.</p>
<p><strong>The 7 Ps of Marketing are following:</strong></p>
<p><strong>Price, Place, Promotion, Product, People, Processes and Physical Evidence. </strong></p>
<p>The last 3 Ps are applicable only if you are marketing a service; otherwise the first four Ps are enough in Marketing Mix.</p>
<p>Anyway, in this article we are talking about Marketing communication which is the main part of third P of marketing ie Promotion.</p>
<p>Some of the common methods applied for promoting a business product or service and to be more precise the methods of Marketing Communications are following:</p>
<p>1.)    <strong>Television Advertising</strong>: This method is meant for promoting a product or service on television. In this method the advertisements are shown in the breaks of popular programs. Although, the advertisements are often considered irritating, yet because the program broadcasted on television is watched by millions so even 10 percent positive impression is positive.</p>
<p>2.)    <strong>Print Advertising:</strong> There are many popular Newspapers and Magazines. Advertising in the relevant part of a relevant magazine can work in favor of the product or service, as more than often people associate the advertisement with the reputation of the Newspaper or Magazine. However, the major drawback about this style is that if the reader doesn’t like the article in the newspaper or magazine he may end up hating the advertised product as well. Furthermore, the shelf life of Newspaper and magazine is limited and once the new edition comes in, it becomes highly unlikely that people will turn back the pages of old edition to check your advertisement.</p>
<p>3.)    <strong>Sponsorship</strong>: Sometimes companies also engage in sponsoring a complete event, sports team or television program. The sponsorship of IPL team, Delhi Daredevils by GMR is a relevant example.</p>
<p>4.)    <strong>Charity</strong>: Organizations often engage in charity events. Although, it may seem like a loss making venture but it creates positive image and people get inspired to associate with the product or services. The charity works done by Birla’s has always helped them in branding themselves as people friendly business house.</p>
<p>5.)    <strong>Education</strong>: There are many corporate houses who are owner of educational institutions. People who are associated with these institutions are indirect brand ambassadors of the business. Besides Education Business , the corporate houses are also involved in offering scholarships to successful students and scholars.</p>
<p>6.)    <strong>Gimmicks</strong>: Offering free service or product has often worked and even the petty businessmen are aware of this trick. However, too much gimmick marketing can result in brand dilution as people may start considering the reduced prices as real cost for the product.</p>
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