The Concept Lifecycle


The new products process essentially turns an opportunity (the real start) into a profit flow (the real finish). It begins with something that is not a product (the profit). The product comes from a situation and turns into an end.

What we have, then, is an evolving product, or better, an evolving concept that, at the end, may become a product. There are stages, like individual frames in a movie film:

  • Opportunity concept-a company skill or resource, or customer problem.
  • Idea concept-the first appearance of an idea.
  • Stated concept-a home or technology, plus a clear statement of benefit.
  • Tested concept-it has passed an end user concept test; need is confirmed.
  • Full screened concept-it passes the test of fit with company situation.
  • Protocol concepts-a statement (product definition) of the intended market user.
  • Prototype concept-a tentative physical product or system procedure, including features and benefits.
  • Batch concept-first full test of fit with manufacturing; it can be made. Specifications are written, exactly what the product is to be, including features, characteristics, and standards.
  • Process concept-the full manufacturing process is complete.
  • Pilot concept-a supply of the new product, produced in quantity from a pilot production line, enough for field testing with end users.
  • Marketed concept-output of the scale-up process either for a market test or full scale launch.
  • Successful concept (new product)-it meets the goals set for it at the start of the project.

Some firms have as many as three production models or prototypes. So, the idea that a new product suddenly “emerges” from R&D-like a chicken from an egg-is simply incorrect.

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.

The Aging Crisis


Not a company exists whose management doesn’t say, at least for public consumption, that it wants an organization flexible enough to adjust quickly to changing market conditions, lean enough to beat any competitor’s price, innovative enough to keep its products and services technologically fresh, and dedicated enough to deliver maximum quality and consumer service.

So, if managements want companies that are lean, nimble, flexible, responsive, competitive, innovative, efficient, customer-focused, and profitable, why are so many. Companies are bloated, clumsy, rigid, sluggish, non-competitive, uncreative, inefficient, disdainful of customer needs, and losing money. The answers lie in how these companies do their work and why they do it that way.

Corporations do not perform badly because workers are lazy and managements are inept. Just the same, the record of industrial and technological accomplishment over the past century is proof enough that managements are not inept and workers do work.

Inflexibility, unresponsiveness, the absence of customer focus, an obsession with activity rather than result, bureaucratic paralysis, lack of innovation, high overhead—these are the legacies of industrial leadership. These characteristics are not new; they have not suddenly appeared. They have been present all along. If costs are high they can be passed on to customers. If customers are dissatisfied, they have nowhere else to turn. If new products are slow in coming, customers will wait. The important managerial job is to manage growth, and the rest doesn’t matter. Now that growth has flattened out, the rest matters a great deal.

The business problem is that in 21st century with companies designed during the nineteenth century to work well in the twentieth—we need something different.

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.

Management Responses to Inflation


Businesspeople must deal with the rising price spiral. Higher costs must be absorbed or passed on to the consumer in the form of higher prices. Management needs to adopt innovative responses to the problems of inflation and tight budgets. Inflation does not have a negative impact on all firms. Consumers are adapting to inflation, and businesses must make similar adaptations to remain in operation.

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.

Flexibility


Flexibility means adapting to changing market demands. Small businesses usually have only one layer of management—the owners. Decisions therefore can be made and carried out quickly. In large firms, decisions about even minute matters can take weeks because they must pass through two or more levels of management before action is authorized.

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.

Preparing a Resume


All job applicants need to have information circulating that reflects positively on their strengths. That information needs to be sent to prospective employers in a format that is understandable and consistent with the organization’s hiring practices. In most instances, this is done through the resume.

No matter who you are or where you are in your career, you need a current resume. Your resume is typically the only information source that a recruiter will use in determining whether to grant you an interview. Therefore, your resume must be a sales tool; it must give key information that supports your candidacy, highlights your strengths, and differentiates you from other job applicants.

It is important to pinpoint a few key themes regarding resumes that may seem like common sense but are frequently ignored. If you are making a paper copy of your resume, it must be printed on a quality printer. The style of font should be easy to read—Courier or Times New Roman. Avoid any style that may be hard on the eyes, such as a script or italic font. A recruiter who must review 100 or more resumes a day is not going to look favorably at difficult to read resumes. Use an easy to read font and make the recruiter’s job easier.

It is also important to note that many companies today are using computer scanners to make the first pass through resumes. They scan each resume for specific information like key job elements, experience, work history, education, or technical expertise.

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.

Purchase Decision Process


The act of buying is a significant part of everyone’s life. It is such a routine activity that we rarely consider in detail the mental process involved in product purchases. Just what are the steps in the purchase decision? Buyers usually pass through five stage process when they buy a good or service:

  1. Stage 1: Problem Recognition. The buyer recognizes a need, desire, or problem. The marketer tries to determine which needs, desires, or problems stimulate the buyer to begin the purchase process.
  2. Stage 2: Information Search. The buyer collects information about purchase alternatives. The successful marketer knows the sources of buyer information and their relative importance to the buyer.
  3. Stage 3: Alternative Evaluation. The buyer evaluates purchase alternatives in light of various criteria. Since these criteria may differ in each purchase decision, the marketer determines which criteria are appropriate to that decision.
  4. Step 4: Purchase Decision. The buyer selects a product from among the purchase alternatives. Up to this point, the marketer has done as much as possible to influence the buyer to buy his or her product.
  5. Stage 5: Outcome. The buyer experiences some degree of satisfaction with the purchase decision. Knowledge of this satisfaction is crucial to the marketer.

Only when this decision process is understood can an effective marketing program developed. This analysis of the decision process in five distinct stages draws attention to the fact that the buying process begins before the purchase decision is made.

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.

 

Scientific Method and Marketing Research


Scientific method is a decision-making approach that focuses on being objective and orderly in testing ideas before accepting them. With the scientific method, managers don’t just assume that their intuition is correct. Instead, they use their intuition and observations to develop hypotheses—educated guesses about the relationships between things or about what will happen in the future. Then they test their hypotheses before making final decisions.

A manager who relies only on intuition might introduce a new product without testing consumer response. But a manager who uses the scientific method might say, “I think (hypotheses) that consumers currently using the most popular brand will prefer our new product. Let’s run some consumer tests. If at least 60 percent of the consumers prefer our product, we can introduce it in a regional test market. If it doesn’t pass the consumer test there, we can make some changes and try again.”

The scientific method focuses an orderly research process. Some managers don’t carefully specify what information they need. They blindly move ahead—hoping that research will provide “the answer.” Other managers may have a clearly defined problem or question but lose their way after that. These hit-or-miss approaches waste both time and money.

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.

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