New Trends in Management

Future Trends and Techniques in Segmentation

Segmentation consists of group of buyers or a process of identifying groups of buyers who share similar set of need and wants. It is the breakdown of the market for a particular product or service into segments of customers, which differs in terms of needs, wants, lifestyle, religion, income level, gender, buying process etc, and their response to marketing strategies. Today’s organisations need fresh thinking on how to operate and compete in the new economy characterised by hypercompetition, customization and digitalisation. An organisation cannot serve all the consumers in the entire market, the consumers are too many and are too diverse in their buying process. An organisation therefore, needs to identify the market segment(s) it can best serve. Organisations been aware of these facts has been segmenting their products offerings to target a particular segment(s) of the market rather than using the old method of mass-marketing. ...

Where to get Ideas that will put Money into your pocket

Ideas it is said, rules the world. This statement is as true as the spoken words of God. Ideas put food on the table, ideas puts money in the pocket. Ideas sets one apart from the crowd. Ideas are vital ingredients that the soup of this world cannot do without. So where can you get ideas that will put money into your pocket? The first place to get good ideas is within you. You hear me right – within you is full of ideas that can make you one of the richest person the world has ever known. Lets look at it this way, when God created the world, did He created us with the cars we drive today? Okay, lets look at it another way, when God created us, did He created us with the light bulb we are using today? I am sure you are understanding yourself now. When God created us, did He created us with the computer? So if God did not created us with these things, where did they come from? They were all hidden within us. Some hundred years back, Henry Ford has an idea within him that he wants people ...

SURVIVING THE FIRST 1,000 DAYS OF YOUR NEW BUSINESS

Each year, many new home-based businesses are started; but many also fail. Many newcomers, at first excited by the prospect of working at home, soon become disenchanted when they realize that even a home-based business requires tremendous effort and hard work. Here are the most common stumbling blocks that businesses fall prey to. These are guidelines to help you from falling victim to these pitfalls and survive your first two years in business. #1 = Undercapitalization. Lack of funds is the reason for failure of most businesses the world over. Many entrepreneurs fail to plan properly, expanding too soon or spending unwisely, and don’t get enough money to keep the business going for a certain period of time. A good business plan can help you avoid this. Invest enough to keep your business growing for three months. Investment in inventory is critical. ...

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