...victims of today′s mainstream marketing thinking. By using the notion of a marketing strategy continuum, discusses a number of consequences of a relationship-type marketing strategy for the focus of marketing, pricing, quality management, internal marketing and intraorganizational development. Briefly comments on the possibility of developing a general marketing theory based on the relationship building and management approach. The marketing mix management paradigm has dominated marketing thought, research and practice since it was introduced almost 40 years ago. Today, this paradigm is beginning to lose its position. New approaches have been emerging in marketing research. The globalization of business and the evolving recognition of the importance of...
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...Introduction During the last decade, the I.T. Security industry has struggled to keep up with the new trends and developments caused by the growing importance of Information Technology and e-Business. BIS (2004) describes e-Business as a specific way of doing business utilising electronic media such as the Internet. Jelassi and Enders (2005: p.4) on the other hand, define e-Business as “the use of networked information technologies to conduct an organisation's business internally and/or externally. Internal business activities include the linking of an organisation's business units and employees with each other through an intranet to improve information sharing, facilitate knowledge dissemination, and support management reporting. With an external...
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... Review questions and application exercises on p. 134 and 135 Ch. 7 Product-selling Strategies that Add Value Article: Harte Hanks; Create and Nurture B2B demand with social media, 2010 Article: Ricci, L.R., ― What changed our sales cycle and Why?‖, 2005. Review questions and application exercises on p. 154 and 155, case on p. 155 Ch. 8 The Buying process and buyer behaviour. Article belonging to CH 8: How you slice it; smarter segmentation for your sales force. Describe positioning as a product-selling strategy Explain the cluster of satisfactions concept Discuss product-positioning options Explain how to sell your product with a price strategy Explain how to sell your product with a valueadded strategy Positioning involves: • Those decisions and activities intended to create and maintain a certain concept of the firm‘s product in the customer‘s mind Differentiation refers to: • Your ability to separate yourself and your product from that of your competitors • It is the key to building and maintaining a competitive advantage The set of benefits and values the company promises to deliver to customers to satisfy their needs A well-informed customer will usually choose the product that offers the most value • • • Applies to both new and existing products May be necessary to reposition products several times Salespeople have an important and expanding role in differentiating products • ...
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...4 MANAGEMENT DECISION 32,2 Has today’s dominant marketing mix paradigm become a strait-jacket? A relationship building and management approach may be the answer. From Marketing Mix to Relationship Marketing: Towards a Paradigm Shift in Marketing Christian Grönroos approach to marketing which eventually has entered the marketing literature[2, 4-14]. A paradigm shift is clearly under way. In services marketing, especially in Europe and Australia but to some extent also in North America, and in industrial marketing, especially in Europe, this paradigm shift has already taken place. Books published on services marketing[15-17] and on industrial marketing[18-20] as well as major research reports published are based on the relationship marketing paradigm. A major shift in the perception of the fundamentals of marketing is taking place. The shift is so dramatic that it can, no doubt, be described as a paradigm shift[21]. Marketing researchers have been passionately convinced about the paradigmatic nature of marketing mix management and the Four P model[22]. To challenge marketing mix management as the basic foundation for all marketing thinking has been as heretic as it was for Copernicus to proclaim that the earth moved[23, 24]. The purpose of this report is to discuss the nature and consequences of the dominating marketing paradigm of today, marketing mix management of the managerial school (cf.[25] and how evolving trends in business and modern research into, for example...
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...civilization. With the rise of agriculture and trade, people needed a way to keep track of their goods and of transactions. Around 7500 B.C., Mesopotamians began using clay tokens to represent goods, such as animals, tools, food items or units of grain. This helped owners keep track of their property. Instead of counting heads of cattle or bushels of grain every time one was consumed or traded, people could simply add or subtract tokens. Different shapes were used for different goods. Around 4000 B.C., the Sumerians began placing these tokens in sealed clay envelopes. Each token would be stamped into the clay of the outside of the envelope, so the owner would know how many tokens were inside, but the tokens themselves would be kept safe from tampering or loss. This practice of pressing the tokens into the clay may have been the earliest genesis of writing. A few hundred years later, more complex tokens began to be used. These tokens had special markings to denote different units or types of goods. Starting around 3000 B.C., the Chinese developed the abacus, a tool for counting and calculating. * Basic principle Revenue principle The revenue principle, also known as the realization principle, states that revenue is earned when the sale is made, which is typically when goods or services are provided. A key component of the revenue principle, when it comes to the sale of goods, is that revenue is earned when legal ownership of the goods passes from seller to buyer. Note that...
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...Current financial resources of an organization may be deficient when it develops quickly. The amount of organizations who have ability to back their amplified arrangements from money streams alone is not many. Accordingly raising money from other external sources happens in their thought. Furthermore, chiefs might not have enough assets to get the organization who are looking to purchase into a business or purchase out a business from its managers. For accomplishing their goals they will need to raise fund. In a developing business to help there are various potential sources - - close by shareholders and chiefs reserves - Business blessed messengers - Factoring and receipt reducing - Venture capital - Clearing banks (overdrafts, short or medium term credits) - Hire purchase and renting By striking harmony in the middle of value and risk it is guaranteed that financing structure suits the business. 1.2 Assessing the implications of different sources. Interconnections, advancement, and development get to be stronger by fiscal organizations that surpass national limits and utilize such exercises as colossal interbank contracts, over-the-counter subsidiaries contracts, syndicated advance issuance, quit, bond, and exchanging exercises universally. Increment of the productivity of the overall fiscal framework as a consequence of tighter interdependencies by smooth credit dispersion and danger broadening ; potential for cross-market and cross-fringe inconveniences to arrive...
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...Fast moving consumer goods (FMCGs) are those products with a short shelf life as a result of the high frequency with which they are sold and also because some of them are easily perishable. One major characteristic of FMCGs is that they sell fast at a relatively low cost. Examples of these products include perishable foods such as meats, fruits, vegetables and baked foods; Fast selling goods such as soft drinks, alcohol, processed and prepackaged foods as well as toiletries etc. These goods are bought frequently due to their essential nature in the daily life of consumers. (Erdoğan and Taymaz ,2005). Of interest to a marketer is a clear understanding of the characteristics of this type of goods and the FMCGs market in general. FMCGs market involves a high volume of goods per day for example. This is due to the fast moving nature as well as the essential of the goods. Some of them are have to be bought by consumers on a daily basis. As a result, the companies dealing with these goods have an extensive distribution network in order to reach as many consumers as possible. The stock turnover is also high. Profit margins are relatively small due to the nature of the goods dealt with in this type of business. BUSINESS TO BUSINESS Business to Business (B2B) is type of commerce transaction that exists between businesses, such as between manufacturers and wholesalers, or wholesalers and retailers. Here, transactions are clearly between businesses/companies...
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...Lecture 1 Chapter 1- Demand for audit and assurance services. Assurance services * Independent professional services that improve the quality of information for decision makers. 1. Attestation services * A type of assurance services in which the public accounting firm issues a written communication that express a conclusion about the liability of a written assertion of another party. * Three categories of Attestation services: a. Audit historical financial statements A form of attestation services in which the auditor issues a written report expressing an opinion about whether the financial statement are in material conformity which accounting standard. b. Review of financial statement: A type of attestation service performed by public accountants. Many entities want to provide assurance on their financial statement, without incurring the cost of an audit. c. Other attestation services Such as a natural extension of audit of historical financial statement, as users seek independent assurance about other types of information. For example: banks often require debtors to engage public accountants to provide assurance about the debtor’s compliance with certain financial covenant provision stated in the loan agreement. 2. Other assurance services, They are similar to attestation services in that public accountant must be independent and must provide assurance about information used by decision maker, but differ in that the public...
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...A REPORT ON SALES AND DISTRIBUTION OF ITC HOTELS Submitted by: Ankush Redhu (16) Anup Sharma (18) Anupama Umakanth (19) PART I ITC Hotels Ltd. is the company chosen for the purpose of this study. With over 100 hotels in more than 90 destinations, ITC Hotels has set new standards of excellence in the hotel industry in accommodation, cuisine, environment and guest safety. As one of India's most dynamic hospitality chains, ITC Hotels has set standards for excellence in the hotel industry by pioneering the concept of branded accommodation. First to introduce branded cuisine, its restaurants Bukhara, Dakshin and DumPukht are renowned for their delicious and authentic Indian cuisines from the different regions of India. With its exclusive strategic tie up with Starwood for its top of the line premium brand the 'Luxury Collection', the group is strengthening its international marketing stance. ITC Hotels was also instrumental in bringing the 'Sheraton' brand to India, with which it enjoyed a three-decade exclusive partnership. ITC Hotel's properties are classified under four distinct brands:- LUXURY COLLECTIONIn 2007, ITC Hotels entered a new phase in its collaboration with Starwood Hotels & Resorts. ITC Hotels now has an exclusive tie-up with Starwood in bringing its premium brand, the 'Luxury Collection', to India. These are seven-star super deluxe and premium hotels located at strategic business and leisure locations. WELCOMHOTELS It offers five-star...
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...merchants came up with small clay tokens, in various shapes and with various markings, to indicate different products, which would mean a basket of grain, another would mean a pot of oil, etc. They had over 200 such tokens to indicate a large variety of common goods, including food, leather, clothing, utensils, tools, jewelry, etc. Before shipping their goods, a merchant would take one token for each item in the shipment, and encase the tokens in a ball of clay, called a "bollae" (pronounced "bowl-eye") - meaning ball. The ball would be dried in the sun, given to the boatman, and then broken by the buyer on the other end of the transaction. The buyer would match the tokens with the items in the shipment, to verify that everything sent was accounted for. Early references to accounting concepts are found in the Vedas, In atharvaveda and the Nirukta denoting ‘sale’. Sulka in the Rig veda clearly means ‘price’ are found indicating the accounting practices. In the Dharma Sutras it denotes a ‘tax’. Roman history also gives traces of accounting. The Res Gestae Divi Augusti (Latin: "The Deeds of the Divine Augustus") is a remarkable account to the Roman people of the Emperor Augustus' stewardship. It listed...
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...CRM : Making it simple for banking industry. Submitted To: Submitted by: Prof. K. Siva Reddy Sachin Bansal 09BSHYD0711 Tanmay Garg 09BSHYD0912 Prerak Dhawan 09BSHYD0586 Preetish Kr. Singh 09BSHYD0585 Sarita Sethi 09BSHYD0742 Priyanka Gunturu 09BSHYD0600 Index 1. Introduction to banking 3 Importance of banking 3 Need for CRM 4 2. Introduction to CRM 5 Phases of CRM 5 Benefits of CRM 6 Types/variations of CRM 7 Implementations of CRM 10 Importance of CRM in banking 12 Challenges in CRM implementation 14 3. CRM initiatives at SBI 16 CRM and SBI Life 16 4. CRM initiatives at HDFC Bank 19 About HDFC bank 19 Challenges 20 CRM solutions 20 Results 21 VbV facility for HDFC customers 21 Offers 21 RAP computer telephony integration 22 5. Research Methodology 23 Objective 23 Methodology 23 Demographics of sample 23 Data Analysis 24 Qualitative Analysis 25 Quantitative Analysis 27 Data Interpretation 29 6. Conclusion 30 7. References 31 Introduction to Banking Sec 5 (b) of the Banking Regulation Act, 1949 defines banking as “accepting for the purpose of lending or investment...
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...Project Management PlanMerger & Acquisition Project for The Bag Co with ABC Leather Ltd Prepared by: MSc/ AdvDip Project Management Practices (2011 Batch) Students (Team -1) Marcus Ellenby Mohamed Abdurazak Myrka Freua Vivek Jha PROJECT MANAGEMENT PLAN Contents 1 Introduction .................................................................................................................................... 3 1.1 Objectives................................................................................................................................ 3 1.2 Vision Statement..................................................................................................................... 3 1.3 Key Milestones and KPIs ......................................................................................................... 4 2 Project Organisation ....................................................................................................................... 5 3 Project Roles and Responsibilities .................................................................................................. 5 3.1 3.2 Work Breakdown Structure .................................................................................................... 6 3.3 Organisation Break down Structure........................................................................................ 6 3.4 4 Work Details......................................
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...Chapter: 1 Introduction to Accounting ▪ Bookkeeping is the detailed recording of all the financial transactions of a business. Accounting uses these bookkeeping records to prepare financial statements. ▪ It is necessary to prepare financial statements to show the profit or loss of the business and the financial position of the business and it will help in decision-making. ▪ The accounting equation shows that the assets are always equal to the capital plus the liabilities of the business. Assets = Capital + Liabilities ▪ A balance sheet is a statement of the financial position of a business and a certain date. Chapter: 2 Double Entry Bookkeeping- Part A ▪ Every transaction must be entered twice-on the debit side of one accounting and on the credit side of another account. ▪ The debit entry is made in the account which is receiving the value and the credit entry is made in the account which is giving the value. ▪ Each type of asset, liability, expense and income has its own ledger account. ▪ Any value taken from the business by the owner of the business is known as drawings. ▪ At the end of the period, the accounts of assets and liabilities which contain more than one entry should be balanced. ▪ The entries for purchases and sales and purchases returns and sales returns are recorded in separate accounts. ▪ Carriage is the cost of transporting goods. Chapter: 3 ...
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...Acknowledgement At first we would like to thank Mr. Hanif Mahtab for giving us the support, courage, and opportunity to work on this business plan. We are also grateful to those people without whom it would have been quite impossible for us to continue preparing this entire report. During our preparation we overcome some major difficulties and enjoyed our each and every moment on making this business plan. All of our group members were really co-operative. We had done library work, survey and web searching and came to understand many events in preparing this business plan. Executive Summary HAMKO is also a pioneer Battery Components and Chemical manufacturer serving and supporting other battery companies of the country. We are intending to introduce online merchandised on HAMKO for selling products online for the mobility of consumer. With just a click of the mouse, shoppers can buy nearly any product online -- from groceries to cars, from insurance policies to home loans. The world of electronic commerce, also known as e-commerce, enables consumers to shop at thousands of online stores and pay for their purchases without leaving the comfort of home. For many, the Internet has taken the place of Saturday afternoon window shopping at the mall. Consumers expect merchants to not only make their products available on the Web, but to make payments a simple and secure process. Our expected market share will grow most rapidly in the first 5 years then stabilize after 8 to...
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...obr76817_ch01_002-044.indd Page 3 09/09/10 9:50 AM user-f501 CHAPTER 1 207/MHRL043/kno31619_disk1of1/0070131619/kno31619_pagefiles: Management Challenges Business Applications Module I Development Processes Information Technologies Foundation Concepts FOUNDATIONS OF INFORMATION SYSTEMS IN BUSINESS Ch apt er Highligh t s L ea r n i n g O bj ect i v e s Section I Foundation Concepts: Information Systems in Business 1. Understand the concept of a system and how it relates to information systems. 2. Explain why knowledge of information systems is important for business professionals, and identify five areas of information systems knowledge that they need. 3. Give examples to illustrate how the business applications of information systems can support a firm’s business processes, managerial decision making, and strategies for competitive advantage. 4. Provide examples of several major types of information systems from your experiences with business organizations in the real world. 5. Identify several challenges that a business manager might face in managing the successful and ethical development and use of information technology in a business. 6. Provide examples of the components of real world information systems. Illustrate that in an information system, people use hardware, software, data, and networks as resources to perform input, processing, output, storage, and control activities that transform data resources into information...
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