Tariff Barriers

Different nations handle tariff barriers differently. A country may have a single tariff system for all goods from all sources. This is called a uni-linear or single-column tariff. Another type of tariff is the general-conventional tariff. This tariff applies to all nations except those that have tariff treaties (or a convention to that effect) with a particular country. A tariff may be worked out on the basis of a tax permit, called specific duty, or as percentage of the value of the item, which is referred to as ad velorem duty. Sometimes both specific and ad valorem duty may be levied may be levied on the same item as a combined duty.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Modern Retailers

Economies of scale and information technology have given top retailers enormous power. Sophisticated computer systems can tell retailers instantly what they are selling in each of their numerous stores, how much money they are making on each sale, and, increasingly, who their customers are. They no longer are lumbered which stock they may not be sold, or run out of items customers want to buy.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Gap Analysis

Gap analysis is a statistical technique with immense power under certain circumstances. Its maps of the market are used to determine how various products are perceived by how they are positioned on the market map. On any map the items plotted tend to cluster here and there, with open space between them. These open spaces are gaps, and a map that shows gaps is, not surprisingly, called a gap map.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Pro Forma Income Statement

Because marketing managers are accountable for the profit impact of their actions, they must translate their strategies and tactics into pro forma, or projected, income statements. A pro forma income statement displays projected revenues, budgeted expenses, and estimated net profit for an organization, product, or service during a specific planning period, usually a year. Pro forma income statements include a sales forecast and a listing of variable and fixed costs that can be programmed or committed.

Pro forma income statements can be prepared in different ways and reflect varying levels of specificity. They have a typical layout consisting of six major categories or line items:

1. Sales—forecasted unit volume times unit selling price
2. Cost of goods sold—costs incurred in buying or producing products and services. Generally speaking, these costs are constant per unit within certain volume ranges and vary with total unit volume.
3. Gross margin (sometimes called gross profit)—represents the remainder after cost of goods sold has been subtracted from sales.
4. Marketing expenses—generally programmed expenses budgeted to produce sales. Advertising expenses are typically fixed. Sales expenses can be fixed, such as a salesperson’s salary, or variable, such as sales commissions. Freight or delivery expenses are typically constant per unit and vary with total unit volume.
5. General and administrative expenses—generally, committed fixed costs for the planning period, which cannot be avoided if the organization is to operate. These costs are frequently called overhead.
6. Net income before (income) taxes (often called net profit before taxes—the remainder after all costs have been subtracted from sales.

A pro forma income statement reflects a marketing manager’s expectations (sales) given criterion inputs (costs). This means that a manager must think specifically about customer response to strategies and tactics and focus attention on the organization’s financial objectives of profitability and growth when preparing a pro forma income statement.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Service Culture

Any policy, procedure, aspect, action, or inaction of an organization contributes to the service culture. This includes employee appearance, the way employees interact with customers, and their knowledge, skill and attitude levels. It also encompasses the physical appearance of the organization’s facility, equipment, and any other aspect of  the organization with which the customer comes into contact.

Service culture has following elements:

• Service philosophy:  Direction or vision of the organization that gives you day-to-day interactions with the customer.
• Employee roles and expectations: Specific communications or measures that indicate what is expected of you in customer interactions and define how your performance will be evaluated.
• Policies and procedures: Guidelines that define how various situations or transactions will be handled. These can help or hinder service delivery depending on your flexibility in interpreting and applying them.
• Management support: Availability of management to answer questions and assist you in customer interactions, when necessary.
• Motivators and rewards: Monetary, material items or feedback that prompts you to continue to deliver service and perform at a high level.
• Training: Instruction or information provided through a variety of techniques that teach knowledge or skills, or attempt to influence your attitude toward excellent service delivery

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Taking the Office Charge

Once your office is settled, you should make an inventory so you will have proof of what you own. To make a simple office inventory:

1. List each item, the year it was purchased, its original cost, and its present value.
2. Also list the model number, brand name, dealer’s name, and a description of the item. Save and attach receipts.
3. Keep a copy of this inventory in a safe place other than your office (a safe deposit box, for example).
4. Update the inventory regularly, possibly as often as every three or six months while you are still buying major items for your office. At minimum, update it once a year.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Protecting Trademark

Use the following strategies to protect your employer’s trademark:

• Distinguish trademarks from other material. Use boldface, italics, a different typeface or size, or a different color to distinguish the trademarked item.
• Use the trademark symbol. At least one in each document—preferably, the first time—use the appropriate symbol after the name or logo, followed by an asterisk. At the bottom of the page, include a statement such as: “COKE is a trademark of the Coca-Cola Company.”
• Use the trademarked item as an adjective, not as a noun or a verb. Trademarks can become confused with the generic term they refer to. Use the trademarked item along with the generic term.
• Do not use the plural form or the possessive form of the term. Doing so reduces the uniqueness of the item and encourages the public to think of the term as generic.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Benefits of Quality Function Deployment

Focus on Customer

• Focus mainly on customer needs and wants.
• Compare their product with competitors.
• Prioritize according to customer’s level of importance.
• Identify the vital item to be acted upon.

Time Saving

• Enables to change the design in the starting itself.
• Limits the problems after introduction of the product.
• Gives opportunities for future applications.
• Reduce the time for redesigning since all changes are made in first step itself.

Encourages teamwork

• Based on everyone’ ideas
• Creates communication at interfaces.
• Team members are recognized.

Success depends on:

• Quality consciousness of each member.
• Prevailing team spirit.
• Correctness of customer requirements.
• Knowledge of members on management tools.
• Knowledge of members on process details.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Inspection Buying

Inspection buying means looking at every item. It’s used for products that are not standardized and require examination. Here each product is different – as in the case of livestock or used equipment. Such products are often sold in open markets – or at auction if there are several potential buyers. Buyers inspect the goods and either haggle with the seller or bid against competing buyers.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

Direct-mail Marketing: Checklist

• Is there a perceived need for the product or service?
• Is it practical?
• Is it unique?
• Is the price right for your customers or prospects?
• Is it a good value?
• Is the markup sufficient to assure a profit?
• Is the market large enough? Does the product or service have broad appeal?
• Are there specific smaller segments of your list that have a strong desire for your product or service?
• Is it new? Will your customers perceive it as being new?
• Can it be photographed or illustrated interestingly?
• Are there sufficient unusual selling features to make your copy sizzle?
• Is it economical to ship? Is it fragile? Old shaped? Heavy? Bulky?
• Can it be personalized?
• Are there any legal problems to overcome?
• Is it safe to use?
• Is the supplier reputable?
• Will backup merchandise be available for fast shipment on reorders?
• Might returns be too huge?
• Will refurbishing of returned merchandise be practical?
• Is it, or can it be, packaged attractively?
• Are usage instructions clear?
• How does it compare to competitive products or services?
• Will it have exclusivity?
• Will it lend itself to repeat business?
• Is it consumable, so that there will be repeat orders?
• Is it faddish? Too short-lived?
• Is it too seasonal for direct mail selling?
• Can an add-on to the product make it more distinctive and salable?
• Will the number of stock keeping units – various sizes and colors – create problems?
• Does it lend itself to multiple pricing?
• Is it too readily available in stores?
• Is it like an old, hot item, so that its success is guaranteed?
• Is it doomed because similar items have failed?
• Does your mother, wife, brother, husband, sister, or kid like it?
• Is direct mail the way to go with it?
• Does it fill an unfilled niche in the marketplace?

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.