Business Essay Example | Topics and Well Written Essays - 500 words - 5

Business - Essay Example (Keegan & Moriarty, 1998) 3. GROWTH STAGE: It is a stage of Product Development in which the product starts selling and profits are higher as compared to the initial stage. Sales starts climbing quickly and the expenses are lower because the product has been catered in the minds of the target audience and everyone is familiar with the product. It is stage where company doesn’t do any type of marketing and promotion expenses and tries to cover all the expenses that has been done in the Introduction stage. (Kotler & Armstrong, 2001) 4. MATURITY STAGE: It is a PLC stage where the product sales slows and eventually becomes zero. It is a stage where the product is matured and the consumers want some new product to be catered to them. Companies apply certain strategies to their product to cater the changing needs of consumers and try to save their product from going in the decline stage. There are three strategies that managers apply in maturity stage: (Keegan & Moriarty, 1998) i. Modifying The Market: It is a strategy in which company tries to modify its target Market by catering to different types of consumers according to their needs. The company can also reposition their product to appeal to different segments of the market. (Keegan & Moriarty, 1998) ii. Modifying The Product: It is a strategy in which the company tries to modify its product by changing their characteristics such as features, quality, packaging or changing the style of a product. By doing this can attract consumers as they will see a different picture of that product. It can also improve product performance as well as reliability. (Keegan & Moriarty, 1998) iii. Modifying The Marketing Mix: It is a strategy in which company changes one or more elements of Marketing Mix such as price, the product packaging, the place of product and etc. It can also do new marketing techniques to appeal their target

Management for Organizations Term Paper Example | Topics and Well Written Essays - 1250 words

Management for Organizations - Term Paper Example No matter which segment of the industry this contact center provided services to, the fundamental principles of management never changed. Effectiveness and efficiency are the two governing principles. While the other five changed from one to other depending upon the nature of client and the objectives it set. For instance, if a government organization like the national sui gas company would like to take services of the contact center, the primary concern would be to take care of the orders and try to convince the customers in whichever way possible. This allowed the call centers agents and operators to get aggressive or sometimes even hang-up on customers that were not really converting into sales. As the government departments don’t really need to sell to be able to generate cash. They have different set of rules. On the other hand, when it’s the private companies, they need to be able to retain their customers and be able to develop a real presence with them, as they need to give them better services than the competition. Here are five elements and their implementation at the ABC Inc; Planning Whenever a task needs to be started, it starts with proper planning. Each goal is derived from a specific service response (Nelson, 2008). Like every other successful company ABC Inc. also undertakes planning very seriously as the whole progress depends upon this blue print (planning). For instance when a new client approaches the company to start providing services the top managers and the client representative sit together to figure out the details. The top managers ask almost every possible detail they can extract from the client so that they put in all factors in the planning process. This would involve the budget they have, their short term and long term goals, their priorities, their desired customer portfolio and their weekly milestones. This list is matched with the company’s current services, and the bargaining is done to make sure that eve ry detail is settled right at this planning phase. When this agreement is made then comes the internal planning of the company. An in house meeting is held where all the people from concerned department are gathered. The top manager gives a presentation about the new client and the respective project. This presentation is customized and is kept brief as the pre planning is done at the agreement time. This phase is scheduled for working forward from the briefings given by the top manager with the approval of the chairman and the president. Then the senior HR manager comes to give his part of the presentation to describe the plan. This part is extremely crucial as each task is broken down and assigned to the relevant person/department. Participants to the meeting are encouraged to ask questions, raise their concerns or even argue if they think there is a better alternative. Leading Leading comes after the panning is done. Without leading there is no following, and eventually there is no productivity. At ABC Inc. leadership is given paramount importance, as there have been many times when a project is very difficult, pays very low or is extremely difficult to run. However, when the effective leader like the VP or the floor manager steps in