Marketing, Marketing Plan and its Elements...

Marketing, Marketing Plan and its Elements Marketing refers to the activities of the organization associated with promoting and selling of its products and services. It includes advertising, selling, delivering products to the customers, and market research. In fact, it is everything which the organization does to acquire customers and maintain a relationship with them. An efficient marketing cultivates sound business strategies, allows for successful innovation, increases the effectiveness of promotional strategies, and strengthens the brand image. The main purpose of the marketing is not only to maintain the relationship with existing ones but also to attract new customers. The process of interaction between the marketing men and the customers presents the dialogue between them and assumes the exchange of values. Marketing plan is one of the major and extremely significant of the organizational business planning process since it is the marketing which brings success in the long term, particularly, continuous growth in the earnings of the organization. Marketing plan has an input in defining efficiency in customer satisfaction terms.  It also helps to identify core products/services which meet the needs of the target segments of the organization. For understanding the theory related to the marketing and the marketing plan it is first necessary to understand its elements. These elements are (i) marketing mix, (ii) branding strategy, (iii) competitor and market analysis, (iv) customer decision making process, and (v) sales plan. Marketing mix Marketing mix is a theoretical framework which defines four indicators in arranging the offerings to meet the needs of the customers. These indicators are (i) product, (ii) place, (iii) price, and (iv) promotion. These indicators are also known as 4 Ps. The concept of 4 Ps is considered to be powerful due to the reason that it makes marketing process simpler and allows having...

Management of the Process Productivity...

Management of the Process Productivity A process can be defined as a set of horizontal sequence of interrelated or interacting activities, which transforms inputs (needs) into outputs (results) for meeting the needs of customers or stakeholders. Inputs and intended outputs of a process can be tangible (such as equipment, materials or components) or intangible (such as energy or information). Outputs can also be unintended, such as waste or pollution.  The process needs a resource that provides the needed energy to the process for the transformation from the input to output to occur. Each process has customers and other interested parties (who may be either internal or external to the organization), with needs and expectations about the process, who define the required outputs of the process. A process is an interacting combination at any level of complexity, of people, materials, tools, machines, automation, software facilities, and procedures designed to work together for the common purpose of producing product of that quality which is needed by the customer. The process is central to the production system in the organization (Fig 1). The process instills quality in the product. Fig 1 Process of a production system The objectives of a process are normally (i) low cost operation, (ii) high performance, (iii) consistent product quality, (iv) high productivity level, (v) high yield, and (vi) product customization. An organization to function has several processes. The organization can reach its goals and objectives in an efficient and effective manner only if all the processes operate at a high level of productivity. Productivity is the quality or state of being productive. It is the measure of how specified resources are managed to accomplish timely objectives stated in terms of quality and quantity. It indicates how well the resources such as materials,...

Product Quality and Manufacturing Technology Management...

Product Quality and Manufacturing Technology Management Manufacturing technology is defined as the act or process (or connected series of acts or processes) of actually and physically making a specified product from its material constituents. It is central to a production system which produces the specified product as required by the customer. Manufacturing process takes place when some input occurs in a production system and it appears as an output and provides result in the form of a product. On the other hand, manufacturing technology is that knowledge which is used in the production system during the process of manufacturing. Manufacturing technology is an interacting combination at any level of complexity, of people, materials, tools, machines, automation, software facilities, and procedures designed to work together for the common purpose of producing product of that quality which is needed by the customer. It provides the tools which enable production of the specified products.  These tools of the manufacturing technology magnify the efforts of individual workers and turn raw materials at the affordable cost into the quality products required by the customers The objectives of the manufacturing technology (Fig 1) are namely (i) low cost operation, (ii) high performance, (iii) consistent product quality, (iv) high productivity level, (v) high yield, and (vi) product customization. Fig 1 Objectives of manufacturing technologies There is a close link between the quality of the product and the manufacturing technology. An appropriate manufacturing technology is normally needed to produce product of quality since the technology is the principal quality determinant. In fact, manufacturing technology is to have capabilities to produce products of predictable quality at the productivity levels which keeps the product production cost under control. The technology needs not be unique, but it is to be mature and is to have innovative...

Quality of Products and Process Control...

Quality of Products and Process Control A product is said to be of desired quality when it complies with the specification as well as customer’s requirements and expectations and when it displays basic, performance and excitement functionalities. Products are produced by manufacturing processes. Also, quality cannot be tested into the product. It is to be built in the product by the manufacturing process during its manufacturing. One of the main factors which affect the quality of the product is the quality of the manufacturing process which produces the product. Sound and reliable processes produce quality products. Hence improving the quality of the manufacturing processes is a precondition for better product quality at an acceptable cost. Process as used in the terms process control and process industry, refers to the methods of changing or refining raw materials to create end products. Process control refers to the methods that are used to control process variables when manufacturing a product. Organization controls the production process for three reasons namely (i) reduce variability, (ii) increase efficiency, and (iii) ensure safety. Process control can reduce variability in the end product, which ensures a consistently high-quality product. Manufacturing processes have the many features which fall into one of the following categories Procedures – These are a series of steps followed in a regular, definite order. Methods – These are an orderly arrangement of a series of tasks, activities, or procedures. Equipment and supplies – These are physical devices and other hard goods which are needed to perform the process Materials – These are tangible elements, data, facts, figures, or information needed which along with equipment and supplies make up inputs required. People – They are numbers of individuals, skills they require, goals, and tasks they perform. Training – It is...

Building Customer Loyalty- A Necessity for an Organization...

Building Customer Loyalty- A Necessity for an Organization A customer is an entity (individual, group, society, company, and corporate etc.) who becomes accustomed to buying from the organization. Without a strong track record of contact and repeat purchase, this entity is not the customer, but a buyer. Loyalty is the attachment a customer feels for the employees of the organization, the products and the services. A true customer is grown over time. A loyal customer is one who has the following attributes. Makes regular purchases Purchases across product and service lines Refers the organizational products to others Demonstrates immunity to the pull of the competition Customer loyalty is defined as ‘a customer which over time engage one organization to satisfy entirely, or a significant part, of its needs by using the organization’s products or services’. Customer loyalty means that the customer is loyal to the organization and only turns to a competitor in exceptional cases. The importance of customer loyalty and customer satisfaction has become increasingly apparent to an organization since the industry is facing the situation of oversupply during the recent years. This oversupply condition is bringing to the forth the necessity of building customer loyalty and to have organizational policies which are oriented towards satisfying its customers. Customers can be fickle with their loyalty, and long with their memory. It can be demonstrated by many examples that a single negative incident can ruin a long standing relationship between customer and the organization since there are several viable alternatives are available to the customer in today’s competitive market. Building of the customer loyalty requires the organization to emphasize the value of its products or services and to show that it is interested in building a relationship with the customer. The organization recognizes that...