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Levels of Strategy •          At the top of this hierarchy is the corporate level , composed principally of board of directors and the CEOs. •          Responsible for the firm’s financial performance and for the achievement of nonfinancial goals, such as enhancing the firm’s image and fulfilling its social resoonsibilities. •          In the middle of the decision-making hierarchy is the business level, composed principally of business and corporate managers. •          These managers must translate the statements of direction and intent ( determination) generated at the corporate level into concrete objectives and strategies for individuals business divisions. •          Business-level strategic managers determine how the firm will compete in the selected product-market aren...

Evolution of Strategic management What is the main responsibilities of modern executives? Managing internal activities of the firm But modern executives must also respond to the challenges posed by the firm’s immediate and remote external environment. Immediate external environment components: competitors, suppliers, increasingly scarce resources, government agencies, government regulations and customers Remote external environment components: Economic and social conditions, political priorities, technological developments Modern organizations need a long term horizon to cope with environmental change Globalization is making the world one big market.What ever the technologies are developed in the world market, that can be available in the Nepalese market with in 24 hours. It has brought competition everywhere.Strategy is a broad action plan for achieving objectives. It provides long-term direction and scope to the organization.It is the road map for future path.Its thru...

Naturally all businessman want their business to be successful. After all they work hard to achieve it. Understanding their customers’ buying behaviour is one of the elements that helps to be successful. Without this understanding it makes gaining more customers difficult. Especially in today’s competitive world. Their buying behaviour is one of the elements that need for a customer profile. Customers base their buying decisions on both rational and emotional reasons. Getting your customers to have an emotional attachment to your brand is one of the keys to keeping them loyal. As well it is one of the key factors in gaining referrals and recommendations. Any organization that is driven by the needs and wants of consumers has to understand consumer behavior. In many cases, consumers might not even be aware of their motivations or their behaviors. Understanding consumer behavior is essential for the success of any organization. Organizations must understand consumer behavior ...

Sales Management: Sales Management refers the management of overall marketing activities such as advertising, sales promotion, marketing research, physical distribution, pricing and product merchandising. According to American Marketing Association sales management refers “the planning, direction and control of personnel selling, including recruiting, selecting, equipping, assigning, routing, supervising, paying and motivating as these tasks apply to the personal sales force”. Efforts put forth to attain a company’s sales objectives through sales management’s involvement with following activities: (1) Formulation of sales strategy through development of account management policies, sales force compensation policies, sales revenue forecasts, and sales plan, (2) Implementation of sales strategy through selecting, training, motivating, and supporting the sales force, setting sales revenue targets, and (3) Sales force management through development and implementation of sales...

Performance evaluation: Performance evaluation is the process of evaluating an employee’s current and/or past performance relative to his or her performance standards. The process of performance evaluation involves following stages: 1.        Establish basic Policies 2.        Select Evaluation bases 3.        Set performance standards 4.        Compare performance to standards 5.        Discuss results with sales people The Relationship of Sales & Marketing Marketing and sales differ greatly, but have the same goal. Marketing improves the selling environment and plays a very important role in sales. If the marketing department generates a list of potential customers, sales will benefit. The goal of a marketing department is to increase the number of interactions between potential customers and the organization. Achie...

There is another consumer sales promotion known as a sweepstake. These have become associated with marketing promotions targeted toward both generating enthusiasm and providing incentive reactions among customers. Sweepstakes  are a form of contest where a prize or prizes may be awarded to a winner or winners. Sweepstakes began as a form of lottery that were tied to products sold. Prizes can vary in value from less than one dollar to more than one million U.S. dollars and can be in the form of cash, cars, homes, electronics, and so on. Intermediaries-oriented Sales Promotion: Trade-oriented sales promotion programs are directed at the dealer network of the company to motivate them to the sell more of the company’s brand than other brands. It is also known as push strategy, which is directed at the dealer network so that they push the brand to the consumers by giving priority over other competitor brands. Some of the important trade-oriented promotion tools are as...

Consumer behavior  studies individuals, groups, or organizations. It also studies the processes they use to select, secure, and dispose of products, services, experiences, or ideas to satisfy needs and wants. It also sees the impacts that these processes have on the consumer and society. It blends elements from psychology, sociology, social anthropology and economics. CBB also studies decision-making processes of buyers, both individually and in groups. It studies characteristics of individual consumers such as demographics and behavioral variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general. Recent Development in OBB •       JIT - Just in Time purchasing - aims to supply materials and components as they are required. Stockholding costs are reduced for the purchasing compa...