INDUSTRIAL MANAGEMENT Presentation Prepaired by Prof Mohammad Zubair

INDUSTRIAL MANAGEMENT Presentation Prepaired by Prof. Mohammad Zubair Assistant Prof. (Mechanical Dept. ) Anjuman College Of Engineering & Technology

Course Outcomes: The Student would be able to: � Understand the basic concepts of management and explain the various principles of management(L 1, L 2) � Understand the various functions of personal management and solve worker’s related problem. (L 1, L 3) � Recall the concept of marketing and examine various marketing strategies. (L 1, L 4) � Explain the importance of financial management, relate it with break even analysis and plan budget. (L 1, L 6) � Understand the various principles of Plant Management &classify different type of material handling equipments (L 1, L 4) � Discuss various recent trends in management. (L 6)

UNIT-III Marketing management

Marketing management �“Business is not financial science, it’s about trading, buying and selling. It’s about creating a product or service so good that people will pay for it. ” — Anta �Roddick “Marketing takes a day to learn. Unfortunately it takes time to master. ” — Philip Kotler

� Gathering and Analysing Market Information � Market Planning: � Product Designing and Development � Standardisation and Grading � Packaging and Labelling � Branding � Customer Support Services � Pricing of Products � Promotion and Selling � Physical Distribution � Transportation � Storage and Warehousing

Marketing Management Philosophies �Production Concept �Product Concept �Selling Concept �Marketing Concept �Social Marketing Concept

Marketing Mix �Price- Price is the amount the consumer must exchange to receive the offering. ---Solomon et al (2009). �Place- Place includes company activities that make the product available to target consumers. ---Kotler and Armstrong (2010).

Marketing Mix �Product-Product means the goods-andservices combination the company offers to the target market. ---Kotler and Armstrong (2010) �Promotion includes all of the activities marketers undertake to inform consumers about their products and to encourage potential customers to buy these products. ---Solomon et al (2009)

Product life cycle �What is the product life cycle? The product life cycle is an important concept in marketing. It describes the stages a product goes through from when it was first thought of until it finally is removed from the market. Not all products reach this final stage. Some continue to grow and others rise and fall.

Stages of the product life cycle �Introduction – researching, developing and then launching the product �Growth – when sales are increasing at their fastest rate �Maturity – sales are near their highest, but the rate of growth is slowing down or constant, e. g. new competitors in market or saturation. �Decline – final stage of the cycle, when sales begin to fall

Stages of the product life cycle

Extending the Product Life Cycle Extension strategies extend the life of the product before it goes into decline. Again businesses use marketing techniques to improve sales. Examples of the techniques are: � Advertising – try to gain a new audience or remind the current audience � Price reduction – more attractive to customers � Adding value – add new features to the current product, e. g. improving the specifications on a Smartphone � Explore new markets – selling the product into new geographical areas or creating a version targeted at different segments � New packaging – brightening up old packaging or subtle changes

Market Research is a term that is used to refer to a process of gathering or collecting information about target audience or target market.

Factors �Trends in the market �Segmentation of the market �Information �SWOT analysis �Effectiveness of marketing

Types of Market Research Techniques ◦ Primary Market Research ◦ Secondary market research

Methods of Market Research: �Types of Market-Survey Techniques �Focus Groups �One-on-One Surveys �Customer-Satisfaction Phone Surveys �Mail-In Surveys �Online Surveys � Other Surveys (i)Panel survey (ii)Observation method

Marketing research in India �Seller’s Market �Lower middle class (rural marketing opportunities) � Weak bargaining power (poor knowledge) � Present scenario: Consumer oriented marketing companies (developing stage)

Pricing of Products �Profit Margins �Sales Volumes �Position

Factors influencing pricing decisions a. Internal factors 1. Cost of production 2. Goals of the enterprise: (max. Sales revenue, increase market share, image, stability) 3. Marketing mix 4. Product differentiation: (features) 5. Organisational factors: �Top level management- Price range of various products �Middle and lower level: price of individual product

Factors influencing pricing decisions b. External factors 1. Demand 2. Supply of raw materials 3. Government policy 4. Consumers buying behaviour 5. Economic condition of country 6. Competition

Channels of Distribution �Indirect 1. 2. 3. 4. Channels Manufacturer-Retailer-Consumer (One Level Channel) Manufacturer-Wholesaler-Retailer. Consumer (Two Level Channel) Manufacturer-Agent-Wholesaler. Retailer-Consumer (Three Level Channels) Manufacturer- Wholesaler Consumer (One Level Channel)

Media of Advertising Indirect Advertising 1. Press Advertising i)Newspaper advertising ii)Magazine Advertising 2. Outdoor Advertising 3. Film Advertising/Radio/Television 4. Display Advertising a.