Abey Francis

Abey Francis, a freelance writer and a professional blogger who enjoys the challenges of creativity and attention to detail. He has published many articles and editorials regarding management on different blogs and online journals. His articles stimulate thinking of corporate managers on key issues of organizations and management. His research interests focus on international management, International trade finance, Investment management, leadership, social capital and knowledge management in enterprises and cross-culture studies.

Methods of Pricing a New Product

We will address the following questions after new product development:

  • How should a company price a new good or service?
  • How should the price be adapted to meet varying circumstances and opportunities?
  • When should the company initiate a price change, and how should it respond to competitive price changes?

In the entire marketing mix, price is the one element that produces revenue; the others produce costs. Price is also one of the most flexible elements: It can be changed quickly, unlike product features and channel commitments. Although price competition is a major problem facing companies, many do not handle pricing well.… Read the rest

Abey Francis

Stages of New Product Development

New products are the lifeblood of the organisation but they are extremely vulnerable and the majority never reach commercialization. In competitive markets, the best and strongest firms sustain growth through the introduction of new products and services to meet the changing needs of the consumers. All products have a finite life span and this is influenced by the type of product, its innovativeness, the management of the product through its life cycle, as well as the markets in which it is sold. All products will eventually decline and need to be replaced by new ones and companies need to be adept at adapting marketing strategies to respond to the dynamics of the environment, so as to manage the product through its life cycle effectively.… Read the rest

Abey Francis

Positioning Strategies in Marketing

Positioning is the strategy of differentiating your product from that of the competition, in the mind of the prospect. A positioning strategy may be developed from the product’s attributes, its specific uses, the type of uses, the product class or category, or the competition. Each of these represents a different approach to developing a positioning strategy. However, all of them have the ultimate objective of developing or reinforcing an image in the minds of the audience. Following are steps of positioning strategies:

1. Positioning by Product Characteristics/Consumer Benefits

a) This is a commonly used strategy and consists of associating an object with a product characteristic or customer benefit.… Read the rest

Abey Francis

Business Objectives of Logistics Systems

The General objectives of the logistics can be summarized as:

  • Cost reduction
  • Capital reduction
  • Service improvement

The specific objective of an ideal logistics system is to ensure the flow of supply to the buyer, the:

  • right product
  • right quantities and assortments
  • right places
  • right time
  • right cost / price and,
  • right condition

This implies that a firm will aim at having a logistics system which maximizes the customer service and minimizes the distribution cost. However, one can approximate the reality by defining the objective of logistics system as achieving a desired level of customer service i.e., the degree of delivery support given by the seller to the buyer.… Read the rest

Abey Francis

Importance of Logistics in Business

The importance of logistics systems lies in the fact that it leads to ultimate consummation of the sales contract. The buyer is not interested in the promises of the seller that he can supply goods at competitive price but that he actually does so. Delivery according to the contract is essential to fulfilling the commercial and legal requirements. In the event of failure to comply with the stipulated supply of period, the seller may not only get his sale amount back, but may also be legally penalized, if the sales contract so specifies. There is no doubt that better delivery schedule is a good promotional strategy when buyers are reluctant to invest in warehousing and keeping higher level of inventories.… Read the rest

Abey Francis

Logistics – Definition and Meaning

According to Council of logistics management: “Logistics is the process of planning, implementing and controlling the efficient, effective flow and storage of goods, services and related information from point of origin to point of consumption for the purpose of conforming the customer requirement”.

This definition clearly points out the inherent nature of logistics and it conveys that Logistics is concerned with getting products and services where they are needed whenever they are desired. In trade Logistics has been performed since the beginning of civilization: it’s hardly new. However implementing best practice of logistics has become one of the most exciting and challenging operational areas of business and public sector management.… Read the rest

Abey Francis
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