The New Management


Forces like technological change, globalized competition, deregulation, political instability, and trends towards service jobs and the information age have altered the playing field on which firms to be efficient, responsive, flexible, and capable of competing and reacting rapidly to competitive and technological changes.

Firms are recreating themselves to fit these new conditions, by implementing new management methods that enable them to cope with great competition and rapid change. Forces such as technological innovation, globalization, and deregulation mean that companies today must cope with much greater levels of competition, change, and unpredictability than ever before. As a result, to succeed some companies have instituted new management methods (such as mini-units, Internet based financial controls, and team-based organizations) that enable these companies to be more efficient, and also much more effective at reacting quickly to competitive and technological change.

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.

Marketing Communications Strategy


Strategies vary depending on the primary audience—customers, distributors, opinion formers, and stakeholders. The stakeholders require a message that communicates the organization’s values rather than specific offerings, whereas the customers may want specific product offerings and benefits.

Strategic options must be generated before deciding on a final strategy. It is highly unlikely that the first communications strategy that emerges is going to be the best one. Herebelow are some points to be remembered while making a strategy:

  • Objectives, strategy, tactics, action, and control.
  • Do your homework.
  • Develop some options.
  • Know your resources.
  • Win senior management support.
  • Do not hurt the environment.
  • Put everything in place before making a move.

This prepares the way for the development of good strategies. When the strategic options have been developed, they can be compared in order to determine which strategy is more likely to deliver the best result.

Remember, ‘STOP & SIT.’ Ask whether the communications strategy breaks up the market into segments and targets the right customers. Will the strategy fulfill the marketing and communications objectives? Is the positioning made crystal clear? What sequence of integrated communications tools will be used? Musts for communicators are:

  • Always define precisely your audience.
  • Avoid the predictable.
  • Keep the message simple.
  • Use power tools (images that last).
  • Say what only you can say.

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.

Product Life Cycle


Once the market has emerged and a firm has decided to enter, it must still contend with uncertinities in the products in the market. The marketing literature offers a parallel to the technology life cycle: the product life cycle. A product has four predictable stages with distinctive characteristics, marketing objectives, and strategies. The introduction stage starts when the new product is launched. Sales are low, costs per customer are high, profits are negative, customers are largely lead users, and competitors are few. In the growth stage, sales rise rapidly, costs per customer start to drop, profits start rising, and the number of customers also increases. In the maturity stage, sales peak, costs per customer are low, profits are high, and the number of competitors is stable. In the decline stage, sales start to decline, costs per customer increase, profits arte declining, and the number of compititors is also declining. These characteristics call for specific strategies. For example, in the introduction stage, a firm’s objective is to create product awareness, and product strategy is to offer a basic product. The demand in each market is fulfilled by a seriies of different generations of products, with the first one introduced at the emergence of the market.

 

The main drawback in using the product life cycle to reduce uncertainty is that number of stages and duration of each vary from product to product. It is also difficult to tell when a stage starts and ends. In any case, they provide some regularities to help a firm know when and what to invest in an innovation.

 

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, Line of Sight