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Silly Marketing Mistakes to look out for

by Sameeksha Khanna 21. February 2012 16:36

It is crucial to have a thorough understanding of the consumers when the marketing of any service or product is done. You need to know the exact message you want to deliver, offer you want to make and just the right time of the launch as well to have the maximum impact. There are many times the newcomers in the field of marketing end up making really silly mistakes that cost them their product’s performance and customer loyalty. If proper planning, measurement, evaluation and attention to details are taken care of, these mistakes can be easily avoided. 

When planning a marketing campaign, it is important to take care of the following marketing mistakes:

Even if you have a great place, long list, awesome offer and good marketing, but the timing is absolutely off, there is no way to have fruitful results. It is crucial that the timing is right to compel the customers to buy the product. For instance, there is no point selling ceiling fans to customers in winters, it will apt only when the summers are about to approach.

If you are into direct marketing know that the targeted list has to be reached successfully. Try to test your offer beforehand so that there is expected response from the customers. If you test them, this will optimize the responses too. Measure the effectiveness of the campaign and then act any further. 

Record the results of your tests and see what helps the campaign and what does not. Make sure you improve the quality of the product or service by each test if it lacks any.

While you may have a good offer for your customers, try to make sure you also have a good list to target on. There are different ways to reach different types of consumers across different age groups. Reach each group in a different way and make the most of the technologies that are now prevailing for the purpose. Understand the buying behaviour of the customers.

Do not rely on a single mode of communication. Reach them virtually as well. Mere calling the customers up or persuading in person hardly helps. Reach them in as many ways as possible. Keep all channels of communication open. 

If you are a fresher at marketing, ensure that you keep these pointers in mind. These will help make your marketing campaign grow stronger and result yielding.  


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What exactly is MBA in Finance for management Graduates in India

by Sameeksha Khanna 29. January 2012 08:19

We all know the importance which an MBA in Finance plays in the overall development of a firm. For a business to be successful, it is important to know the financial risks and rewards. Good finance management also allows a company to ensure ideal use of their investment value. Needless to say, finance is the most central and therefore most complicated area of a business. Therefore, small and large businesses are always keen on hiring professionals who are trained with specialist skills and knowledge required to manage the finances of a company.

With the rise in demand for finance professionals, specialised full time MBA courses have become popular. A full time MBA degree in Finance is a two-year degree program that combines theoretical knowledge with practical application to ensure that a pass out of MBA (Finance) is able to start work as soon as they join an organization and implement it at an ongoing one.

An MBA in finance allows one to gain comprehensive knowledge on all facets of trade and business practices, along with in depth knowledge on the procedure and documentation related to financial services. A finance management degree therefore covers all skills related with finance as a part of business administration. An MBA degree with specialization in finance opens up opportunities not only for various sectors but also for investment banks, corporations, and securities firms that have become very good paymasters in the recent past. Finance graduates are often absorbed as controllers, cash managers and treasurers. Some other positions available for finance graduates include credit managers, investment associates, risk managers, management consultants and CFOs.

Although this subject is about nail-biting accounts, it is a preferred option for MBA students because of the prospects it has in the corporate world. Last year educomp MAPS saw great summer placements with financial firms like Nomura, HDFC etc coming to campus. A finance degree allows one to gain the skill set required to undertake financial strategy for any company. The primary job of a finance person is to create financial analysis and reports that can be used to take important business decisions. By making changes to a company's finance management, a manager can make a tremendous difference to the profitability of a company.

Therefore, a good MBA in finance gives one the opportunity to impact the path to success for any company they work with. With the right analytical skills and practical vigor, a finance graduate is a heady mix for any organization aspiring to fight a financial downturn or wanting to make the most of a financial upswing.

At Educomp MAPS, we do all we can to ensure that we are able to deliver maximum value to the students and in finance we have the best faculty from the best institutes including the IIMs.


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What exactly is MBA in marketing for management Graduates in India

by Sameeksha Khanna 29. January 2012 08:15

In the present job market having an elite MBA/PGDM degree is more likely considered to have achieved the ultimate level of business education. Today MBA is considered to be a lucrative career option especially in a country like India where there is a dearth of professional management. According to a survey it has been found that this degree is really important for those who want to achieve top management positions in multinational companies round the world. It is really important following the trend of global economy which has it's tended towards a more corporate and service oriented economy. More precisely a business is mostly run by the skillful ability of an MBA graduate.

Sometimes the aspirants are left with a confusion or doubt about what to choose between achieving a MBA degree or engaging in some sort of work. But the wise decision is always to go for MBA as it will compensate altogether the years of study by giving oneself a good employment in terms of service and salary. Generally an MBA is a two year program in which at the initial year the company focuses in teaching basic business strategies often required by a business manager including corporate finance, economics, strategic planning, marketing, accounting etc. At the end of first year a student can choose their subject of interest to do their MBA. In a word doing an MBA not just bestows with a good future but also a respectable position that every aspirant dream of in their life.

Selecting a career in Marketing is a great choice. Mainly the job responsibility includes fulfillment of certain business targets within the speculated period of time. Those graduating with a degree marketing have several business positions like marketing manager, brand manager, market research analyst, product manager and several others. In addition to that there are several other positions available including sales manager, advertising manager, PR director, marketing communications manager etc. Its not just in today but always there is a bulk requirement of marketing graduates in the fields of advertising, direct marketing and specialization in communication. Sometimes the companies hire marketing MBA's as strategist, new product developers and specialists in customer segmentation.

In an MBA career path selecting the right institute is always a matter of concern as it finally adds to the value of one's degree. Several institutions are available worldwide which provides this career opportunity. But the situations are not same for all as some cannot go for full time courses and for them comprehensive courses are available which is helpful to continue for students as well as working executives. Even with and digital media coming in there would a be lot of opportunities in the digital media space being created for working professionals alike.  The remuneration is constant but it improves with the years of experience in service.

Coming to the point of eligibility, a graduate with 60% marks in graduation is eligible for MBA in marketing. Students specially of the Indian origin take admissions on the basis of entrance tests like CAT/MAT tests etc.

Educomp MAPS takes pride in the fact that we have great faculty that from IIMs, a very active placement cell and brand name of Educomp and Raffles which are premier education institutes in India and Singapore respectively, specially for marketing we beleive that our faculty is top class.



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The 3 Channels which form the base of Social Media Marketing

by Sameeksha Khanna 30. December 2011 22:02

Social Media Marketing has become the buzz word in the global flat world today. A time when more than 2 billion people have access to the internet. We are more globally social than we were ever before. Brands having realized this are now begun to leverage the power of Social Media to drive Brand awareness, sales and aggressively track their online Reputation management. For Marketers, a great social Media plan has to include the four basic channels of leveraging the maximum out of your audience.

1.  Social Networking - Facebook and Twitter as Social platforms become the heart and soul of the Social Media plan. Whether it be sharing tips, updating statues or communication of a brand, Facebook and twitter and way ahead of the pack. An essential plan can never overlook these two platforms and Social Networking as a channel while devising a foolproof plan.

2. Forums/Community oriented platforms - One of the other great ways of participating in Social Media is to use forums. Forums generally are very audience specific for example that of MBA students discussing their admissions, or that Java technicians sharing their knowledge. As a channel it cannot be ignored although before using this channel, what, who to target, which forum to be used etc should be answered.

3. Social Bookmarking - This is a clever way to essentially give your content more votes and improve its ranking on the search engines. Simply use a bookmarking site such as Digg or Reddit to bookmark a link to an article can instantly improve your rank on Google or Bing.

All said and done Social Media Marketing and Networking although an excellent tool is a technique that requires patience, balance and careful strategy. There is hard work and hands on experience involved in getting your audiences at the right place at the right time and talking all great about your product.


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Marketing or Sales - Who gets in the Money??

by Sameeksha Khanna 26. December 2011 16:35

Its always been a matter of a debate that whethe ina company, its the sales guys or the marketing guys who get in the moolah.Its always asked who gets more money, its the salesman who meets prospective clients or the marketing who constantly has just one motive to get the brand noticed. Is it the marketing guy who teaches the sales guy how to pitch or the sales guy who finally sells cold ice to the iceman.

In the initial days of the industrial era, it was that the demand always exceeded the supply and so the primary work of the sales guy was to complete the inmplementation or to close the sales process.

However with the industrial revolution, we now have a lot of industries coming up and them needing all kind of celebrities to sell us stuff. Whether Sachin sells you biscuits or Deepika Padunkone sells you digicams, they are just being salesman doing the conventional marketing.

So- Does that mean Sales is obsolete now? Why do experts still give it so much importance then? The reason is simple- Sales without Marketing is not probable in the competitive age- but marketing without sales force is also an uphill task of great deal. But after analysing the differences and changing consumer behaviour- one thing that struck me was: How Industries actually differentiate in importance of Sales and Marketing. An handloom product, the Chinese headsets or watches, or even to a great extent in Apparels and Fashion industry- Sales force matter a lot more. 

As we see from all the examples given above its the sales process and the marketing which at the end of the day gets us the rewards. In the new age or the digital century nothing is independent of each other. Ignoring one for other might just mean a loss of market share to the competitor.



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