Topics

16

Marketing / Era of change for Brand Managers

« on: April 23, 2018, 12:45:33 PM »

From the early- to mid-1950s to the mid-1960s, more firms moved toward adopting brand managers. The sudden boom in the economy, followed by a growing middle class population and birth rate, increased the demand for products within the market. This led to a steady competition among a number of manufacturers who found it hard to get their products noticed amidst the pre-existing brands. By the year 1967, 84% of large consumer packaged goods manufacturers had brand managers.[5] Brand managers were also being referred to as "product managers" whose sole priority shifted from simply brand building to boosting up the company's sales and profit margin. "The product manager is man of the hour in marketing organizations.... Modern marketing needs the product manager," raved one 1960's article.

Over the course of several years, brand managers continued to exist as a medium that would help boost company revenue. In the 1990s, Marketing UK highlighted that brand managers are a part of an "outdated organizational system" while "the brand manager system has encouraged brand proliferation, which in turn has led to debilitating cannibalization and resource constraints."

Source: Online

17

Marketing / Rise of brand managers

« on: April 23, 2018, 12:41:45 PM »

The concept of brands and brand marketing have evolved over decades. Traditionally, consumers were familiar with only a few products that were available in the market. Beginning from the 1870s a number of companies began pushing 'branded products,' which familiarized consumers with more brands. From 1915 through the 1920s, manufacturer brands were established and developed further, which increased companies' reliance on brand advertising and marketing. However, the Great Depression led to a severe drawback in brand progress, as companies were left with few ways to increase revenue and get their business back on track. For the sake of their brand and survival in a hopeless market, companies such as Procter and Gamble, General Foods and Unilever developed the discipline of brand management. The "brand manager system" refers to the type of organizational structure in which brands or products are assigned to managers who are responsible for their performance.

Source: Online

18

Marketing / Brand ambassador

« on: April 23, 2018, 12:40:44 PM »

A brand ambassador (sometimes also called a corporate ambassador) is a person who is hired by an organization or company to represent a brand in a positive light and by doing so help to increase brand awareness and sales. The brand ambassador is meant to embody the corporate identity in appearance, demeanor, values and ethics. The key element of brand ambassadors is their ability to use promotional strategies that will strengthen the customer-product-service relationship and influence a large audience to buy and consume more. Predominantly, a brand ambassador is known as a positive spokesperson, an opinion leader or a community influencer, appointed as an internal or external agent to boost product or service sales and create brand awareness. Today, brand ambassador as a term has expanded beyond celebrity branding to self-branding or personal brand management. Professional figures such as good-will and non-profit ambassadors, promotional models, testimonials and brand advocates have formed as an extension of the same concept, taking into account the requirements of every company.

The term brand ambassador loosely refers to a commodity which covers all types of event staff, varying between trade show hosts, in store promotional members and street teams. According to Brain, the job of a brand ambassador was undertaken typically by a celebrity or someone of a well-known presence, who was often paid considerably for their time and effort. Nowadays however, a brand ambassador can be anyone who has knowledge or can identify certain needs a brand is seeking. The fashion industry however, solely rely on celebrity clientele in order to remain brand ambassadors. Furthermore, brand ambassadors are considered to be the key salesperson for a product or service on offer. They must remain well informed when it comes to the brand they are representing, due to their nature of being the go-to person when questions arise from consumers. The brand ambassador's job is to drive results through communication tools either publicly, such as social media, or privately including emails, messaging and further one-to-one channels.

Source: Online

19

You need to know / Format of Mind Mapping based on a concept

« on: April 23, 2018, 12:13:04 PM »

Format of Mind Mapping based on a concept

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You need to know / 7 Steps to Making a Mind Map

« on: April 23, 2018, 12:03:54 PM »

1. Start in the CENTRE of a blank page turned sideways. Why? Because starting in the centre gives your Brain freedom to spread out in all directions and to express itself more freely and naturally.

2. Use an IMAGE or PICTURE for your central idea. Why? Because an image is worth a thousand words and helps you use your Imagination. A central image is more interesting, keeps you focussed, helps you concentrate, and gives your Brain more of a buzz!

3. Use COLOURS throughout. Why? Because colours are as exciting to your Brain as are images. Colour adds extra vibrancy and life to your Mind Map, adds tremendous energy to your Creative Thinking, and is fun!

4. CONNECT your MAIN BRANCHES to the central image and connect your second- and third-level branches to the first and second levels, etc. Why? Because your Brain works by association. It likes to link two (or three, or four) things together. If you connect the branches, you will understand and remember a lot more easily.

5. Make your branches CURVED rather than straight-lined. Why? Because having nothing but straight lines is boring to your Brain.Use ONE KEY WORD PER LINE. Why Because single key words give your Mind Map more power and flexibility.

6. Use IMAGES throughout. Why Because each image, like the central image, is also worth a thousand words. So if you have only 10 images in your Mind Map, it’s already the equal of 10,000 words of notes!

Source: Online

21

You need to know / What do you need to make a Mind Map?

« on: April 23, 2018, 11:59:55 AM »

Because Mind Maps are so easy to do and so natural, the ingredients for your “Mind Map Recipe” are very few:

* Blank unlined paper
* Coloured pens and pencils
* Your Brain
* Your imagination!

When you use Mind Maps on a daily basis, you will find that your life becomes more productive, fulfilled, and successful on every level. There are no limits to the number of thoughts, ideas and connections that your brain can make, which means that there are no limits to the different ways you can use Mind Maps to help you.

Source: Online

22

You need to know / The Five Essential Characteristics of Mind Mapping:

« on: April 23, 2018, 11:57:06 AM »

1. The main idea, subject or focus is crystallized in a central image.
2. The main themes radiate from the central image as 'branches'.
3. The branches comprise a key image or key word drawn or printed on its associated line.
4. Topics of lesser importance are represented as 'twigs' of the relevant branch.
5. The branches form a connected nodal structure.

Source: Online

23

You need to know / What is Mind Mapping?

« on: April 23, 2018, 11:55:38 AM »

Mind mapping is a highly effective way of getting information in and out of your brain. Mind mapping is a creative and logical means of note-taking and note-making that literally "maps out" your ideas.

All Mind Maps have some things in common. They have a natural organizational structure that radiates from the center and use lines, symbols, words, color and images according to simple, brain-friendly concepts. Mind mapping converts a long list of monotonous information into a colorful, memorable and highly organized diagram that works in line with your brain's natural way of doing things.

One simple way to understand a Mind Map is by comparing it to a map of a city. The city center represents the main idea; the main roads leading from the center represent the key thoughts in your thinking process; the secondary roads or branches represent your secondary thoughts, and so on. Special images or shapes can represent landmarks of interest or particularly relevant ideas.

The great thing about mind mapping is that you can put your ideas down in any order, as soon as they pop into your head. You are not constrained by thinking in order. Simply, throw out any and all ideas, then worry about reorganizing them later.

Source: Online

24

Common Forum / Fighting the brain drain in Bangladesh

« on: April 11, 2016, 02:12:06 AM »

Many Bangladeshi graduates leave the country, writes Kazi Prottoy, 20, a Correspondent from Dhaka in Bangladesh, who argues that enticing young professionals to stay means the government must tackle some significant urban problems.

It has been seen as a trend for some years now that Bangladeshi graduates almost religiously go for the prospect of leaving their homeland to complete their next level of education, and eventually settle into the countries of their choice.

Education specialists call this development by its fancy name ‘Brain Drain’. The term is usually derogatory in a sense. But in truth, most of the graduates look for opportunities to go abroad from the year they get themselves admitted. Most of the experts believe that some migratory push factors are the reason for this trend.

If we want to explain what migratory push factors are, we have to explain what factors play a role in the migration. The factors are mainly economic, social, and physical in nature, and they can usually be categorized into push and pull factors.

Push factors are those related with the area of origin, while pull factors are those that are related with the area of destination.

It would be unwise to disregard the effect of pull factors. As overseas countries like the USA, Canada and Germany offer better service, more wealth and higher employment opportunities, ambitious candidates often choose to emigrate there. It’s a good example of migratory pull factors in play. But in recent times, push factors have begun to emerge. It’s been observed that young people, who were undecided or even reluctant about leaving their home country, are now thinking about migrating. When questioned, almost all of them list the ever-growing problems of the major metropolitan areas, especially of the capital, Dhaka.

Sorowar, age 22, is a third year graduate student of North South University, a reputable University in Dhaka. He lives in Dhanmondi, while his university is situated at Bashundhara. Because of the infamous traffic jam in Dhaka city, it takes him almost one and a half hours every morning to go to his university from his home. And it takes another two hours to return in rush hours. In weekends, the traffic jam is a lot less acute and it takes him only thirty minutes to reach his university. He admits that for the sake of attending classes, wasting nearly three hours every day on the road sometimes proves to be intolerable. He has made up his mind to emigrate and he is already prepping for his IELTS exams.

Most of us might consider Sorowar to be over-reacting. But unfortunately he is not. Many of the recent graduates have taken their decision to emigrate, as they can predict that the condition of traffic jams in Dhaka city will only get worse. They do not want to start their professional life here as it would be very unproductive. The fact of the matter is, traffic jam is just one of the many push factors. Lack of economic opportunity is also a major one. Lack of services, lack of security, high crime rate and political instability also fuel the younger generation’s aspiration to emigrate.

It’s been said that migration usually happens as a result of a mishmash of push and pull factors. If the authorities are sincere enough to deal with the push factors, then the emigration rate can be radically reduced.

Source:http://www.yourcommonwealth.org/uncategorized/fighting-the-brain-drain-in-bangladesh/

25

Common Forum / Agriculture Research Brain drain dims achievements by Reaz Ahmad

« on: April 11, 2016, 02:04:26 AM »

The government is basking in the recent successes in agriculture science at a time when all the 11 agro-research institutions in the country are plagued by brain drain. Administrators overseeing the National Agricultural Research System (NARS) are worried at agriculture scientists' quitting jobs and going abroad. They attributed this to the government's failure to announce a long-committed special incentive package for the scientists.

Unhappy at poor pay package and other facilities at home, and attracted by greater opportunities abroad, at least 300 scientists went into self-retirement from the public research institutions under NARS over the last one decade while 30 percent more out of a 1600-strong scientists' pool are now fast approaching retirement age, show official statistics. Officials and scientists at Bangladesh Agricultural Research Council (BARC) said such a massive brain drain has created a shortage of experienced and skilled agriculture scientists in the public sector institutions when there is a growing need for research to innovate and introduce new and improved seeds and farm technologies to combat climate-change fallout and help feed the ever growing population of the country.

BARC is the apex body of NARS under the Ministry of Agriculture and it coordinates activities of the 11 ago-research institutions. These include Bangladesh Agricultural Research Institute (BARI), Bangladesh Rice Research Institute (BRRI), Bangladesh Jute Research Institute (BJRI), Bangladesh Institute of Nuclear Agriculture (BINA), Bangladesh Sugarcane Research Institute (BSRI), Soil Resources Development Institute (SRDI), Bangladesh Fisheries Research Institute (BFRI), Bangladesh Livestock Research Institute (BLRI), Bangladesh Forest Research Institute (BFRI), Bangladesh Tea Research Institute (BTRI) and Bangladesh Sericulture Research and Training Institute (BSRTI).

BARI and BRRI are the biggest losers in the brain drain phenomenon as the two institutions together lost nearly 200 scientists in recent years. They (scientists) preferred voluntary retirement and joined research institutions abroad or universities at home where better pay package and other facilities are available. Bangladeshi scientists' back-to-back successes in plant and fungi-genomics research in recent years made the government upbeat about the country's capability in advance ago-science. On both the occasions -- jute genome decoding in 2010 and fungi genome decoding in September this year -- Prime Minister Sheikh Hasina informed the nation about the scientific feats by announcing that in parliament.

But, the ago-scientists' morale remains low due to non-implementation of the promised incentives for them, said a top NARS official, preferring anonymity.They are frustrated by factors such as retirement at the age of 59, promotion policy based on vacant positions, lack of scope for higher studies in modern agriculture, lack of recognition for achievements and absence of pension benefits and recreation leave. In neighboring countries India and Nepal, ago-scientists working in public sector retire at the age of 62 and 60 years respectively compared to 58 years for other public servants. In Pakistan, scientists are given special increments in salary if and when they pursue higher education while in service.

Contacted, renowned ago-economist and former head of social science division at the International Rice Research Institute (IRRI) Dr Mahbub Hossain said, "Public research institutions should not deprive themselves from the services of talented agro-scientists just because they reached retirement age. Rather, they should be retained up to a certain age so that the country can benefit from their expertise."Mahbub, now executive director of Brac that has a huge ago-research resource pool in which many are former public sector scientists, stressed that the government should come up with special incentives for the scientists to stop brain drain. "We've repeatedly pleaded with the prime minister for incentives for agriculture scientists. But nothing has been done as yet," said Dr Nitish Chandra Debnath, who heads the Krishibid Institution, Bangladesh (KIB).

KIB is one of the oldest and largest professional organisations in the country that represents over 20,000 agriculture graduates.
"It's nothing extra that the country's agro-scientists are asking for, rather, we're asking for the minimum incentives that our counterparts in all neighboring counties are already getting," said Nitish, also former vice chancellor of Chittagong Veterinary and Animal Science University. He said brain drain can be stopped if scientists are given in situ promotion (promotion based on expertise and experience, and not on vacancy) as is the practice in public universities. He mentioned that many brilliant scientists in the NARS ended up working in the same positions for years.

Executive Chairman of BARC Dr Wais Kabir told this correspondent that he had forwarded two years ago a draft proposal on how the government could provide incentives to scientists. Kabir said he thinks the country would lose its science talents if a minimum incentive package is not arranged. Reached over the phone, Agriculture Minister Matia Chowdhury said the draft proposal was under active consideration but she couldn't give any time frame when the government would announce the package.
At a reception Prime Minister Sheikh Hasina hosted on June 24, 2010 for the scientists who decoded jute genome, she said, “We will take special measures so that researchers do not face any trouble due to limitation of job tenure and limited salary.”
Ten months later, as this paper inquired in April last year about the progress to that end, the then agriculture secretary CQK Mustaq Ahmed said, “We want to give our scientists a fair deal. So, we are planning to increase benefits and facilities for them. We are doing this for the sake of the nation.”

And on November 23 last year, addressing a city programme the prime minister again said, "We'll have to think how the researchers can be given special facilities including financial support and extension of job tenure.”

Source: The Daily Star

26

Common Forum / Agricultural productivity

« on: April 11, 2016, 01:56:49 AM »

Agricultural productivity is measured as the ratio of agricultural outputs to agricultural inputs. While individual products are usually measured by weight, their varying densities make measuring overall agricultural output difficult. Therefore, output is usually measured as the market value of final output, which excludes intermediate products such as corn feed used in the meat industry. This output value may be compared to many different types of inputs such as labor and land . These are called partial measures of productivity. Agricultural productivity may also be measured by what is termed total factor productivity (TFP). This method of calculating agricultural productivity compares an index of agricultural inputs to an index of outputs. This measure of agricultural productivity was established to remedy the shortcomings of the partial measures of productivity; notably that it is often hard to identify the factors cause them to change. Changes in TFP are usually attributed to technological improvements.

Source: wiki

27

Common Forum / Brand Strategy Key Concepts & Steps

« on: February 17, 2016, 05:03:31 AM »

Before you begin

Before working on your brand strategy, make sure you’ve identified your competitive positioning strategy – your brand strategy will bring it to life.

If you have a brand strategy, make sure it’s as effective as possible

    Poll your customers, employees and vendors. Are their impressions consistent with your strategy? If not, work on the elements you can improve.

Develop your brand around emotional benefits

    * List the features and benefits of your product / service. A feature is an attribute – a color, a configuration; a benefit is what that feature does for the customer.
    * Determine which benefits are most important to each of your customer segments.
    * Identify which benefits are emotional – the most powerful brand strategies tap into emotions, even among business buyers.
    *Look at the emotional benefits and boil them down to one thing that your customers should think of when they think of you. That’s what your brand should represent.

Define your brand personality, story and positioning statements

    *Think of your brand as a person with a distinct personality. Describe him or her, then convey these traits in everything you do and create.
    *Write positioning statements and a story about your brand; use them throughout your company materials.
   * Choose colors, fonts and other visual elements that match your personality.
   * Determine how your employees will interact with prospects and customers to convey the personality and make sure your brand “lives” within your company.

Source: http://www.marketingmo.com

28

MBA Discussion Forum / When consumers trust your brand, they don’t contemplate their purchase decisions

« on: July 03, 2015, 04:31:43 PM »

Consumer confidence is waning across the global economy. In times like these, decades of hard-earned brand equity can be eroded over the course of months. Recessions force companies to be smarter about where they invest. Focusing solely on how your brand is different and how that difference creates value for the consumer, increases consumers’ confidence in your brand. Demonstrate that it is “worth more” and you’ll increase their willingness to pay more when every penny counts.

When the market goes south, management too often turns its approach away from brand-centric to price-centric thinking. Thus begins the vicious downward spiral where brand value erodes, in turn reducing revenues which further tightens belts and value continues to erode. The only answer to a recession is a proactive response. Investing in your brands will help to retain your audience and attract a new audience by stealing share from weaker brands. Only the best positioned players will survive and thrive.

When consumers trust your brand, they don’t contemplate their purchase decisions—they buy.

Source: Internet

29

MBA Discussion Forum / Cut Costs Not Corners in the time of recession

« on: July 03, 2015, 04:24:33 PM »

While difficult economic conditions may be trying, it is important to stress that investing and spending are not one in the same. A company can make a significant investment with minimal spend. There are many ways to achieve great impact with minimal or even reduced costs:

    In a recession, more effective employees can make the difference between success and failure. Implementing an internal program that encourages employees to “live the brand” brings a company together by providing clarity. This simple effort can boost employee morale and ensure that their efforts stay focused and on-brand.

    Instead of spending on typical sales promotion, spend on engagement. Exploring and exploiting different sensory inputs can lead to innovative brand signals that are less costly to implement than traditional advertising. Look for the low hanging fruit. Ask the question: “Where and how can the brand effectively get the message out?” Bang for the buck is everything.

    Outsource branding, “insource” execution. The cost of execution eclipses the cost of creativity. A tight budget can choke branding and marketing efforts. In a recession, the costs of branding can seem high. However, by bringing high-cost items like execution in-house, companies can better leverage their limited budgets.

    Negotiate! Your dollar buys more in a bad economy. You may find that you are able to negotiate longer payment terms, volume discounts or other benefits. In times of recession, most partners and vendors are open to discussion. Leverage your position properly and you could find a tight budget buys big budget returns.

    Leverage relationships and explore co-branding initiatives. Companies are cutting costs at every turn. Co-branding can reduce marketing costs while extending the brands reach by allowing unrelated brands to split the costs of marketing while gaining the competitive advantage of cross-brand endorsement.

    Price slashing may sound simple and logical, but it is a sure way to give up ground to competitors who may be more aggressive during the downturn. Price isn’t merely a reflection of quality, it’s also an indicator of it. It’s easy to rationalize that: “it drives business,” and “consumers are struggling and need the help,” but steep discounts tend to attract price-driven shoppers who aren’t likely to be loyal to your brand.

    Cement a value-based position with consumers, not a position of low price. If you can find a way to reduce costs–while maintaining quality–and you can permanently pass that price reduction on to the consumer, your brand equity will grow now and after the economy eventually rights itself. Whether in good times or bad, if you can provide enhanced value to consumers, you’re doing the right thing.

While a recession may feel like the worst time to be a marketer, it may be the best time to build brands. The companies who maintain a strategic perspective and invest in their brands will rebound from a recession stronger from the experience. Weaker brands may not exist by the time the economy re-surges.

Consumers are forming opinions about your brand whether you’re proactively managing the experience or not. So, to be successful, be as optimistic as you can. Your brand and business are in a position either to contribute to the fear or help diffuse it. The connections made during these times of crisis are often stronger than those made in times of prosperity. Look for opportunity where others see hopelessness to find the low hanging fruit your brand needs to thrive.

Equity is only built through the consistent delivery of your brand promise over time. The reward is improved customer loyalty.

Source: Internet

30

MBA Discussion Forum / Invest in Your Brand during recession

« on: July 03, 2015, 04:22:44 PM »

Abandoning or neglecting your brand as markets tighten, only makes matters worse. Historically, companies who properly support their brands with cost-effective measures can retain and even gain share in the face of lower-priced alternatives. These same companies will be best positioned to enjoy the fruits of their labor when the economy inevitably returns to growth.

Following the U.S. Stock Market crash of 1987, Nike tripled its marketing spend and emerged from the recession with profits nine times higher than going in. Taco Bell and Pizza Hut also took advantage of this recession, promoting themselves heavily, while the market leader McDonald’s, cut back. This investment paid off by significantly narrowing McDonald’s category lead.

Recessions are tough on companies and consumers alike as both face the pressures of restricted cash flows and receding bottom lines. The bonds that brands build with consumers at such times are powerful. A recession must be viewed as an opportunity to reassess and strengthen the brand to drive the most value—spend smarter not harder.

Decisions should be focused on spending wisely, but too often companies do nothing at all. A company’s typical reaction to a slowing economy is to cut back and wait things out. Ironically, those companies end up damaging their most valuable assets—their brands.

Conventional wisdom suggests that in times of recession it is better to tighten the belt and cut marketing and branding expenditures. However, when companies cut their outreach, they also begin to cut the ties that bond consumers to those brands. For smart companies, opportunity beckons.

A downturn represents less money in consumers’ pockets and more careful consumption habits. A slimmer budget means companies must be more effective with their branding efforts. Determine what is excess or even damaging to your brand and shed it. Use your focus and resources to strengthen your position in the market and in consumers’ eyes.

As you see your competitors cutting back, recognize that now is the time to strike. If funds are too tight to make an all-out attack, cut less than your competitors. Remember, in a recession both your dollar and your message go farther.

Source: Internet