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What is MBA

Frameworks of management
Management function that coordinates the efforts of people to accomplish goals
and objectives using available resources efficiently and effectively
Management in business and organizations is the function that coordinates the efforts of people to
accomplish goals and objectives using available resources efficiently and effectively.
Management comprises planning, organizing, staffing, leading or directing,
and controlling an organization to accomplish the goal.
Resourcing encompasses the deployment and manipulation of human
resources, financial resources, technological resources, and natural resources.
Management is also an academic discipline, a social science whose objective is to study social
organization.

Case study management - marketing


Marketing is not just sales, not what you to with the product but also to analyse and
also to identify what the market may need in the future and offer it now.

If you manufacture more the cost per unit comes down


So you can bring the cost of product down
Hr case study
So sales increase - profits increase
Offer incentives share profits with the workers
Shouldnt need employees

Variety should be offered choice


We shouldnt stay at providing affordability & reliability but also variety and comfort
Tata nano market need success
OPERATION MANGEMENT Seeking efficiency(saving on cost and timequality not compromised but others reduced) and efectiveness (what you
produce /what you provide serveice may not be best but should cater
needs of people. Meet customer requirement
Inputs to outputs ideas budget man power etc to products and services
Value add customer pays for this value
Measurement continuous and also feedback from customers and workers
continuous process

Stages
Planning how many to produce (I want to sel many like million but reality should
be maintained also not undercapicity should be appropriate not under or over
capacity)
Location if exports company you should be at port, service based you need acess
to young peple near it hubs etc
Products /service you should also provide service for the products
Make or buy make everything here or import some from outside (buget), if best
quality is from outside go on
Layout how offices designed etc
Projects critical
SchedulingControlling /improving what you can monitor
Quality - are you meeting quality requirements
Costs - you cant keep all stock all at once
Productivity with same inputs are you achieving outputs or need more people

Organizing degree of centralization do you need every thing to come from top
management or you can give power to superiors
Process selection
Staffing hiring/ laying off operation will tell hr what to do
Use of overtime
Directing
Incentive plan
Issuance of workorders
Job assignments
Issues for operation management also ceo
Economic condition customer will not pay as normal in economic slowdown they
want less price
Reduce operational cost main problem now cutting cost
Quality - inferior quality should not produced otherwise you will have to dispose
many products at complete loss

Risk management oil spill of bp in gulf o mexico happened but still paying
damages
Environment and personal loss
Employees shouldnt be impacted
Very risky business

Globalisation every company has to compete with products from other countries
Same quality and price of product at less price so outsourcing
Cheap labour
BPO etc support
Good thing access to low costs from other countries
I could either watch it happen or be part of it Elon musk (ceo tesla motors

We have ot make electric cars compelling


Doing business without advertising is like winking at a girl in the dark . you know
what you are doing but nobody else does Stuart H Britt
Marketing is Everything
MARKETING
Managemnet process responsible for identifying anticipatinf and satisfying customer
requirments profitably
Facilitates exchange process between the customers and the sellers
Customers wll only exchange what they value (money) if they feel that their needs
are being full satisfied . Yours should be premium customers should be willing to pay
more for your product (rolls Royce, apple charges premium) the greater the benefit
you provide the higher transactional value an organisation can charge
Selling is marketing but marketing is not just sales if studies and analyses and ask
the operational team to produce such goods
Marketing is promoting advertising etc
Sales is the final step act of buying or transaction of customers purchasing the
products
Most companies now have CMO(Chief marketing officer) along with CFO and CEO

Need VS Want VS Demand


Normal phn to call /message basic requirements food shelter etc agriculture
sector eat to live
Want like iphone needs become associated with specific objects not that essential
to satisfy need but extra
Demand you want a very expensice car/ high salary jobs , cruise etc
Wants with ability to pay
Andriod
Why offer loans interest
Because you go with want
To change want to demand

Good marketing need to want to demand


Why marketing important customer is king
Get into the head of team interact with customer
If any discount is needed , any extra qualities etc
Media through which you want to advertise
How to find right market segment ??
You u should sell
How to differentiate
How to compete with low cost business models
How do we reduce cost of cutomer acquisition
Cost wil be more if u give adds in prime time
Should sell at low price e commerce
Deciding on Businee Strategy
A firm has to adopt one of the following generic strategies
Cost leadership strategy will always do business at low cost , will always bring
down costs
If I low my cost, low price and can capture more market.
Should manage costs long time agreement for suppliers
Without compromising on quality Mc D and Walmart
Differentiation strategy unique product
Brand image
You are the best
Apple, Harley Davidson
Has more profits differentiating factor /unique
Focus strategy one segment
Luxury products rolex, lambo
Can make cheap low cost but have focus on rich people only

Small segments and will be relentless to capture that segment


4 Marketing P s
Product what product customer actually needs, what features can you offer more
what cutomer need
Rate,different from others
Features other offer
Look like
How it should be branded
Price value of price
Service to buyer
Sensitive to price lauch at less price or depends on market
Cost , ineed 10 % profit therefore price
Also check if customers want discount
Place - where
Shopping
Internet
Or everywhere
Where u customer is
If educated youth online
Mass product everywhere
FMCG huge pamplets
In small shops also it should be there
Promotion
Identify which media
Radio
Print
Online

TV
Best time to advertise
Who is ur target
Why MBA not mugging but application
New Marketing Mix 7 Ps
People what kind of people are selling your company
Should be innovative individuals
How you train ur people
Incentives etc
Process- built around objectives of business
Should focus on cutomers
What process customer is expecting
R & D what if failed product
We will repair withing 2 days - assurance
Physical evidence
High value brand
Will buy only if using it
Samples
Virtual
Train staff to make customer experience your product
Product most important
Marketing team should work with operation team
After we make good ads they use with huge expectation and we should fulfill
BCG matrix/growth matrix- portfolio analysis
Which product more/any investment
Market share

If good market can spend more else no need


If bad product market just dispose them
Dogs lowmarket growth
Cash cows less market but ur product is going good
Should put only some money
If market is growing can invest
Else shouldnt more
High /high Stars
Consume and generate lot of cash can invest
Question marks no market share but high market pace will It have future ?
You have to decide
If you have winner product you can put money into it
Else no need to put much money
Warfare :
Defensive warfare market leader
Attack yourself with new ideas
Block other
Offensive 2 /3
Attack leader weakness
Avoid strength of leader
Flanking warfare : new players
Moving to uncontested area
Element of surprise
Guerilla :small players
Find market small enough to defend
Being prepared to bug out at a moments notice