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SME Management

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SME Management (MGT-601)
VU
Lesson 33
MARKETING
Marketing Decision Variables
1. Controllable Variable.
a) Target Market Segment.
· Location
· Target customers
· Timing
b) Products offered.
· Type of product
· Range of product
· Design features
· Quality
c) Price.
· Price level
· Price variables (discount)
· Maintenance
d) Advertisement & Promotion.
· Advertising level
· Advertising media
· Sales promotion
e) Distribution.
· Channels
· Number of sales outlets
· Warehousing facility
f) Servicing
2. Marketing Uncontrollable.
a) Resource Availability.
· Availability of required materials.
· Cost and quality of required material
· Material.
b) Competition ­ Direct & Indirect.
c) Economic Conditions ­ total market size, economic trends, income situation.
d) Socio- Cultural Conditions ­ societal values, life style, fashion consciousness.
e) Political & Legal Conditions.
· Political risk situation
· Legal regulation
f) Technological Situation ­ state of technology, rate of technological change.
Decision about Product
Product decisions have quite important because the length of time for which a Product remains profitable
has considerably shortened. Frequent technological innovation and entry of new products have contributed
to the shortening of life of a product. Such factors pose a problem beyond the financial capabilities of a
Firm. The product features amenable to manipulation by a small firm are;
a) Performance and functional features i.e. firm's ability to perform, durability, reliability and precision.
b) Use characteristics i.e. ease in handling and serviceability.
c) Aesthetic qualities e.g. style, design, color etc.
d) Extrinsic features e.g. uniqueness of product, status value etc.
Product Life Cycle
Product Life Cycle is equally helpful in deciding about appropriate marketing strategy to be adopted.
· Product Development.
· Introduction.
· Late Growth.
· Maturity.
· Decline.
90
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SME Management (MGT-601)
VU
Marketing Mix
It is the integration of the four elements noted below to service the needs of target market.
a)
Product Mix: Correct combination of product and service. It will cover product depth (i.e. model,
size, style, and color) and product breadth (i.e. number of product lines carried).
b)
Promotional Strategy: Promotional Strategy to inform customer about firm, products/.service etc.
through personal selling, sales promotion etc.
c)
Physical Distribution: Physical Distribution i.e. the chair of distribution to be adopted. It forms the
subject matter of a separate chapter.
d)
Pricing.
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Table of Contents:
  1. THE HISTORY:Cottage Industry, CONCEPT OF SMALL BUSINESS
  2. THE RELATIONSHIP BETWEEN SMALL AND BIG BUSINESS:The SME’S in Pakistan
  3. THE ROLE OF ENTREPRENEURSHIPS IN SMEs:Focus and Perseverance Guide the Entrepreneur
  4. THE ROLE OF ENTREPRENEURSHIPS IN SMEs:Kinds of Entrepreneurs
  5. SMALL ENTREPRENEURS IN PAKISTAN:National Approaches
  6. THE DEVELOPMENT OF SMES IN PAKISTAN:The Industrial History of Pakistan
  7. GOVERNMENT’S EFFORT TOWARDS SME DEVELOPMENT:Financing Programs
  8. THIS LECTURE DEFINES THE ROLE OF NGOS AND SMEDA:Mission Statement
  9. ISSUES AND POLICY DEVELOPMENT FOR SME:Monitoring Developments
  10. ISSUES IN SME DEVELOPMENT:Business Environment, Taxation Issues
  11. LABOR ISSUES:Delivery of Assistance and Access to Resources, Finance
  12. HUMAN RESOURCE DEVELOPMENT:Market and Industry Information, Monitoring Developments
  13. MARKET AND INDUSTRY INFORMATION:Measuring Our Success, Gender Development
  14. LONG TERM ISSUES:Law and Order, Intellectual Property Rights, Infrastructure
  15. THE START UP PROCESS OF A SMALL ENTERPRISE:Steps in Innovative Process
  16. TECHNICAL FEASIBILITY:Market Feasibility, Market Testing
  17. FINANCIAL FEASIBILITY:Financial resources and other costs, Cash Flow Analysis
  18. ASSESSMENT OF PERSONAL REQUIREMENTS AND ORGANIZATIONAL CAPABILITIES:Analysis of Competition
  19. Post Operative Problems of a New Enterprise:Environmental Causes
  20. HOW TO APPROACH LENDERS:Bank’s Lending Criteria, Specific Purpose, Be Well Prepared
  21. WHAT A BANK NEEDS TO KNOW ABOUT YOU:General Credentials, Financial Situation
  22. COMMERCIAL INFORMATION:Checklist for Feasibility Study, The Market
  23. GUARANTEES OR COLLATERAL YOU CAN OFFER:Typical Collateral
  24. Aspects of Financial Management:WINNING THE CASH FLOW WAR, The Realization Concept
  25. MEANING OF WORKING CAPITAL:Gross Working Capital, Net Working Capital
  26. RECRUITMENT, SELECTION AND TRAINING:Job Description, Job Specification
  27. SELECTION AND HIRING THE RIGHT CANDIDATE:Application Blank, Orientation
  28. TRAINGING AND DEVELOPMENT:Knowledge, Methods of Training
  29. CONDITIONS THAT STIMULATE LEARNING:Limitations of Performance Appraisal, Discipline
  30. QUALITY CONTROL:Two Aspects of Quality, Manufactured Quality
  31. QUALITY CONTROL:International Quality Standards, MARKETING
  32. MARKETING:Marketing Function, MARKETING PROCESS - STEPS
  33. MARKETING:Controllable Variable, Marketing Uncontrollable, Marketing Mix
  34. MARKETING:Demerits of Product Mix, Development of new product, SMEDA
  35. ROLE OF TECHNOLOGY:Training programmes, Publications
  36. ROLE OF TECHNOLOGY:Measure to Undertake for Promoting Framework.
  37. EXPORT POTENTIAL OF SME IN DEVELOPING COUNTRIES I:Commonly Seen Assistance Programme
  38. EXPORT POTENTIAL OF SME IN DEVELOPING Countries. II:At the national level
  39. WORLD TRADE ORGANIZATION (WTO):WTO Agreements: Salient Features
  40. WTO MINISTERIAL CONFERENCES:PAKISTAN AND WTO
  41. WORLD TRADE ORGANIZATION (WTO) PAKISTAN & WTO. II:International Treaties
  42. WORLD TRADE ORGANIZATION (WTO) PAKISTAN & WTO. III:Agriculture
  43. WORLD TRADE ORGANIZATION (WTO):PAKISTAN & WTO. III
  44. WORLD TRADE ORGANIZATION (WTO):CONCLUSIONS AND RECOMMENDATIONS
  45. SUMMARY & CONCLUSIONS:Financing Tool, Financing Tool