The ten day mba pdf free download

Download and read online in pdf, epub, tuebl and mobi format. Toggle navigation. The 4th edition of The Ten-Day MBA includes the latest topics taught at America's top business schools, from corporate ethics and compliance to financial planning and real estate to leadership and negotiation.

And organizations Finance. Another important mission of promotion is to encourage the distribution channels to stock and sell a product to consumers. Such efforts are a push strategy. Beer distributors, for instance, spend a great deal of their time trying to court bar owners to stock and promote their brew on tap.

Most plans have an element of both push and pull strategies. In the beer industry they spend heavily to advertise the brand as well as to gain greater bar dis- tribution. Advertising takes many forms: television, radio, outdoor bill- boards , magazine, and newspaper.

Two important things to keep in mind are your intended mission and the quantitative measurement of exposure required to accomplish it. Please pay attention to the following measurement vocabulary. This is what you pay for when you buy advertising.

Buying advertising is just like buying marketing research—know what and why you are buying—buyer beware. Reach and frequency are key quantitative measurements of media goals. Reach is the percentage of the target market who see and hear your promo- tion or advertisement.

Frequency is the number of times they saw or heard it. Marketers refer to the number of times a person is exposed to a message as the total impressions made on that audience.

Because of the buying beha- vior associated with different products, different mixes of reach and fre- quency are required to induce purchase. The desired demographics and segmentation variables of the audiences delivered also enter prominently into the equation. A TV program that attracts a muddled mix of demographic audiences is less valuable per audience member. Even if you have the right media vehicle, scheduling is key in reaching your target.

The message delivered is also a key determinant. When advertising people refer to the message, copy wording , or layout of advertising, they call it the creative, a noun. Ad agency people who develop the ideas are called creatives. Magazine and newspaper advertising is purchased based on the size and segmentation variables of their circulations.

Magazines have a longer shelf life, but newspapers deliver a much more immediate and focused geographic readership which is best for sale promotions. Both of these print audiences are bought on a cost per thousand CPM readers basis. A competitive measure of media is share of voice.

Using this measure, an advertiser can target a certain percentage of media spending by all compet- itors within a product category.

Advertisers believe that to have an impact through the competitive media clutter and noise, the relative spending level is just as important as the absolute dollars spent.

Through the clutter, it would have been futile to run a TV ad to promote the tiny coffee brand that I managed during my summer internship.

Any affordable ad would have been drowned out by the giants. Remember, each medium has its strengths in reaching people. Some are more selective than others. Marketers want to reach their intended targets as efficiently as possible to induce the desired buying behavior. Personal Selling. Marketers choose personal selling when they need to make direct contact with the buyer. This avenue is generally the most expensive ele- ment in any marketing mix because of the high cost of labor and commissions paid.

Managers of products that are new, complex, or expensive find that the benefits of personal selling often outweigh their high cost. Water purification systems, pharmaceuticals, encyclopedias, copiers, and industrial products widely utilize personal selling in their marketing mixes.

Current theory holds that personal selling is a problem-solving and consulta- tion process. Professor Derek A. Vacuum cleaner salespeople knew all the facts about their products, and their sales presentations were rehearsed catalog readings.

Sales Promotion. Sales promotion is designed to elicit the desired behavior from the consumer, the sales force, and other channel participants. Sales promotions are designed to complement and reinforce other promotional efforts, especially advertising.

Each type of promotion has its own associated vocabulary that you should be aware of. If you are not a marketer, knowing the vocabulary does not make you an expert, but it can sure help you to en- gage in intelligent marketing conversation, if need be. There are two types of promotions: those directed toward the consumer, and those directed at the distribution channels. Consumer sales promotions techniques available are coupons, refund offers, samples, premiums, and contests.

As a manufacturer, if you give retailers a discount in hopes that they will pass it along to consumers, you may be sadly disappointed. Marketers use coupons to encourage trial, brand switching, and brand loyalty. Grocery coupons are most often placed in a special coupon section of the Sunday paper called freestanding inserts FSI. Refunds are generally used to accelerate the normal consumer purchase cycles. Refunds are usually used to increase the quantity or frequency of purchase by encouraging buyers to stock up.

Battery manufacturers fre- quently use refund offers. Samples are a high-cost way of introducing a new product. Sampling re- quires a cash investment to produce and stock the smaller-sized packages. Sampling may also be effective for products that consumers would view as risky in switching to a new brand, or that may have a high probability of generating word of mouth WOM activity after use. Many new shampoos use free or low-cost samples since their benefits are sensory.

Consumers are reluctant to risk four dollars to try a whole bottle. Premiums are items offered at low or no cost to purchasers of a product. Self-liquidating premiums are those for which the price charged covers just costs.

Hershey has periodically offered watches and Christmas ornaments as premiums. To get the goodies, chocolate lovers have to send in wrappers as proof of purchase. Bubble, the happy pink bubble-bath man, is pic- tured on inexpensive T-shirts, beach towels, and sweatshirts that are printed on every box. Contests and sweepstakes are a popular promotion and the most restricted legally, because they border on gambling.

A very thorough analysis of the game rules and the laws must be conducted to avoid a disaster. State gambling laws must be investigated to ensure compliance. Every time the United States won, game pieces could be redeemed for free food and other prizes. When the Communist bloc boycotted the games, the United States won most of the medals, and most of the game pieces became winners.

Trade-directed sales promotions tools include sales contests, point-of-purchase displays, dealer incentives, trade shows, and in-store demonstrations. There are many variations on the point-of-purchase display POP.

To get them in the stores requires the cooperation of the trade. On the retail shelf a POP can be a shelf talker, a mini-billboard attached to the end of the shelf with a little ad used to attract attention. Freestanding aisle displays and built-in shelf displays are other forms of POP. When a display is at the end of an aisle it is referred to as an end cap.

To get those prime spots, the manu- facturer must entice the retailer. A marketer can do it by providing a high markup per item or a high turnover on lower-margin items. Dealer and employee incentives: Payments made to dealers for marketing support are called spiffs. They can take the form of slotting fees, case dis- counts, cash payments, free merchandise, or prizes.

Spiffs enable the dealer to discount, promote, or justify carrying a product. Trade shows are a way to promote a new or existing product to the wholesalers, dealers, retailers, and distributors. This promotion tries to en- courage the channel participants to carry your product. A fledgling start-up company making housewares, for example, would need to attend trade shows to develop the distribution contacts that might carry their products to retail.

If you have no trade contacts, you have to develop them. In-store demonstrations: Trained experts from the manufacturer are extens- ively used to promote products that otherwise would not generate consumer interest or be accepted by the trade. Whatever the sales promotion you may choose in a marketing mix, each element must have an explicit marketing mission to justify its cost in the marketing mix.

Public Relations and Publicity. Public relations PR is typically a promo- tional tool used to communicate to a broader audience. PR is intended to create a favorable climate for your product, not to directly sell it. The list of possible PR targets can include politicians as well as the communities in which a company operates. Sponsorship of prestigious or charitable events or causes is often used to create a halo effect of positive feeling toward a corporation and its products.

Because the goals of PR are less defined than a sales target, the results are more difficult to measure. Opinion polls and legislative victories are often used to measure PR success. Publicity, a form of public relations, is any unpaid form of mass media communication about a company or product. It can take the form of a news story or even the appearance of a product in the media. Publicity is a two- edged sword. It is judged as more credible by the public because it is not purchased; however, there is less control over the message.

Using a PR agency allows you to tap into their media contacts to capture an audience and hopefully control the impression made about your company or products. This network time has great value. Although it is often overlooked in the market- ing mix, publicity can often create a tremendous impact if skillfully and creatively orchestrated.

Direct Sales. Direct sales includes the realm of the Internet, junk mail, cata- logs, shopping networks, and long-format TV infomercials.

Direct sales are big business. Over 8, firms mailed out 12 billion catalogs that year and the numbers are still growing. Mailers target their market with a focused mailing list to directly reach those households with a compelling mail piece. The more defined, affluent, and focused the list is on a desired demographic composition, the higher cost per thousand CPM names.

The results are tracked by rate of return ROR and dollar amount per order. The other component of both direct mail and TV selling is fulfillment. Fulfillment is the process of order entry, order processing, inventory man- agement, mailing, and customer service. The dreams of those viewers of the Home Shopping Network who want to buy porcelain figurines must be fulfilled.

The operation may be executed internally or subcontracted out to a fulfillment house that performs the duty for a per-order fee over certain volume minimums. It saves smaller companies the initial investment required to establish in-house fulfillment capabilities. Because direct selling is becom- ing such a large part of the economy, it should not be ignored as a possible channel to the consumer. Each method of promotion—advertising, personal selling, sales promo- tions, public relations, and direct selling—can accomplish a separate mission depending on the product, the place of sale, and the price.

The gifted mar- keter goes to his or her palette of promotional options and combines them in a coordinated promotional strategy to sell the product efficiently. The pricing decision, like the product decisions, can dramatically affect the marketing mix by suggesting a channel of distribution or an advertising strategy.

The pricing itself can differentiate your product from the competi- tion. There are many rationales behind pricing each product and service. Besides psychological pricing, there are eight major pricing methods and strategies suggested by research and case analyses. Cost Plus. This is a simple method of taking your cost and adding a desired profit margin.

Highway contractors often use this simple method; however, it is not the proper way to price. Perceived Value to the Consumer.

You can charge the customer the value provided, regardless of its cost. Replacement parts are a prime example—ex- orbitant prices are charged for a cheap but crucial custom nut or bolt. If the price charged for an item is commensurate with the benefits provided, then it will be con- sidered a good value in the mind of the buyer. But remember, there are limits even in a monopolistic situation. Early in the introduction phase of the PLC, a company can opt to charge a high price and skim high margins from a new and novel product or service.

RCA used this strategy to charge high prices for color TVs when they were introduced in the s. This pricing can be used in the introductory phase or later in the PLC. A penetration strategy would use a low price to gain market share; the goal is primarily to lower costs per unit by producing many units in hopes of eventually controlling a market as the low-cost producer.

Apparel, perfume, and jewelry are examples where the price itself affects the perception of product attributes. Consumers often attribute the characteristics of style and workmanship to a product just because of the high price charged. Meet Competition. This is espe- cially the case in commodity products and services such as gasoline, steel, and airline tickets. The economics of pushing a product through the distri- bution chain, as explained in the discussion of distribution channels, has a great effect on what price a manufacturer can charge to sell his product to the distribution chain and still end up with a competitive retail price.

If a market is limited in size, then a price must be charged that will allow enough profit to justify the marketing and manufacturing effort. If the product cannot command a profitable price, then to lower costs investigate either other user markets or manufacturing improvements.

Price Based on the Price Elasticity of the Buyer. Buyers with elastic demand do not readily accept price hikes. Their demand is greater or smaller depending on the price.

Tobacco and crack cocaine smokers, for example, have absorbed many price increases and continue to buy because their addiction makes their demand inelastic to pressure to accept price in- creases.

If elastic, buyers will not pay more than a given price point and will stop buying or buy much less based on the intensity of their desires, their personal disposable income, or their psychological price thresholds. There are many avenues that may be taken with any given product. But what really tells the story is the eco- nomics. Can I do it and make money?

This step may also send the marketing manager directly back to Go without collecting two hundred dollars. The costs may be too high, the market price too low. Perhaps unrealistically high sales volume may be needed to break even.

In those sad cases the entire circular process of marketing strategy must be restarted in an effort to find a profitable solution. To determine whether you have created a plan that is both profitable and reasonable you must address several issues. What are the costs?

What is the break even? How long is the payback of my investment? What are my costs? Fixed or variable? Variable costs are those that vary with the volume of products sold or manufactured. As more units are sold or manufactured, the total costs of material and labor are higher. Fixed costs do not vary with volume even if no sales are made. As volume fluctuates neither rent nor supervisor salaries change—within a relevant range.

By that I mean that if sales triple, a new factory may have to be leased, and thus fixed costs will go up. Promotional expenses such as advertising are also seen as a fixed cost of a marketing plan, because if the product is a flop the advertising dollars are already spent. Total costs are a combination of both variable and fixed costs. When units are actually produced, variable costs are added on top of the fixed costs to equal total costs.

What is my break even and is it reasonable? Break even is the point at which the fixed costs are recovered from the sale of goods but no profit is made. Promotion and manufacturing are very ex- pensive. A way must be found to recoup those investments. Selling Price to Distributors 4. Coffee Beans Cost 1. Variable Roasting and Processing. Variable Shipping Cost. The evaluation of the economics is always performed from the perspective of the present.

There should not be any crying over spilled milk. You need to decide if you can make money on the proposed marketing spending in the future. For example, if the coffee blend was the product of millions of dollars of research, that would be irrelevant to the decision to whether I should spend additional money to market it. The graphical representation of the marketing plan economics for the Mexican coffee looked like this: Gourmet Coffee Marketing Plan Economics Is my break even reasonable in relation to my relevant market?

Answering this question must be your next step. Imagine that—I could have reached my goal with only a. Unfortunately, a small target share can easily lead you to believe that it is easy to obtain.

How would they react? Once in the supermarket, would my company have been willing to continue to support the coffee when a competitor went after my shelf space? In my case, the company was not willing yet to make that kind of long-term com- mitment to coffee. What is the payback period on my investment? This is another hurdle frequently used by companies to evaluate marketing projects when they have many to choose from. Companies want to know how long it will take just to get their investment back.

Forget about profit. The payback formula is: In the coffee example, the calculation would be: If the yearly profit is not the same each year, there is no formula. The break-even point is where the plan returns the initial investment. Seven years is a bit long for a risky venture. This may indicate that the whole marketing development process should start again.

And unfortunately for me it did. In circumstances such as those I faced, you must either tweak or discard your plans entirely. You have to start by asking yourself tough questions. In the case of the coffee project I tormented myself with: Should I target another segment? Is the mail order distribution channel an option? Should I not advertise and rely on a cheap price to move my product? As these questions indicate, the marketing process is not easily defined or executed.

Consumer reactions cannot be easily predicted. It takes creativity, experience, skill, and intuition to develop a plan that makes sense and works together internally consistent and mutually supportive.

Marketing also requires close attention to the numbers to be successful. With this chapter you are armed with the MBA problem-solving structure and the MBA vocabulary to attack the marketing challenges that you may encounter. Figure the break even on that investment! I include the following notes that we all passed among ourselves at school to guide our case discussions and tests open notes. These are the key questions that must be addressed by a comprehensive marketing strategy.

Poor at? Fit with product? Skim, penetrate? Exclude sunk costs! Consumer analysis 2. Market analysis 3. Competitive analysis 4.

Distribution channel analysis 5. Develop the marketing mix 6. Determine the economics 7. Buy wisely. What ap- peared at first to be only a trendy elective course has now become institu- tionalized as part of the core MBA curriculum at Harvard, Wharton, and Darden. With the criminal convictions of insider traders in the s, business schools took notice and jumped on the ethics bandwagon in the s.

Ethical dilemmas make for a lively classroom discussion. It was revealing to see my fellow students deal with controversial topics. My more insecure classmates would not participate at all. I fell into this last group. But I must admit, I took many unpopular positions just to liven up the class discussion. In any case, ethics is a good topic for speaker forums and great fodder for articles and dissertations.

Since ethical problems often have no definitive answers, the area will remain fertile academic ground for years to come. The purpose of ethics in the MBA curriculum is not to make students model corporate citizens. Through casework and role playing, students confront ethical dilemmas similar to those they will face in the workplace. The top business schools train their future champions of industry to deal with any challenge.

It is argued that because corporations are so powerful, they have an obligation to assume social responsibilities. Cor- porations should be managed for the benefit of their stakeholders: their cus- tomers, suppliers, employees, and local communities, as well as their owners. Corporate leaders bear a fiduciary responsibility to all stakeholders.

A profitable business benefits society by creating jobs, increasing the standard of living of its owners and its employees. Although Friedman is exalted as one of the defenders of capitalism in economics courses, my school tended to discourage his views when it came to ethics class. There are two major topics taught in the ethics curriculum: relativism and stakeholder analysis. Relativism examines why we often ignore ethics in our decision making, while stakeholder analysis provides a structure with which to confront ethical decisions.

Things are rarely black or white. There are so many shades of gray. Relat- ivists are not torn by ethical dilemmas since they do not believe that truth can be discovered through soul searching. Professors teach relativism so that students may guard against it. So many variables affect behavior that an outsider cannot possibly be privy to all the elements that went into making a decision.

Role relativism distinguishes between our private selves and our public roles. People refer to social norms to render ethical judgments. If a whole culture holds certain beliefs, how can an outsider sit in judgment? Multinational corporations often follow local laws and customs that may violate ethical standards in their home countries. Discussions about apartheid revolve around issues of cultural relativism.

In some countries it is ordinary business practice to pay bribes to get favorable treatment from businesses and gov- ernment.

The Foreign Corrupt Practices Act of outlaws overseas bribery. The relativism concepts provide MBAs with an awareness of and a way to guard against inaction on ethical and moral issues. They provide a framework to go beyond currently held beliefs and patterns of behaviors. These concepts are also great conversational ammunition when MBAs get together on social occasions.

Other Ethical Frameworks. Silbiger delivers research straight from the notes of real MBA students attending these top programs today—giving you the tools you need to get ahead in business and in life. Whether or not one agrees with his premise, this book will prove to be a handy desk reference for potential and current MBAs, along with business people in general.

Written in a clear and lively style, the ten chapters provide a basic framework for the essential business courses: marketing, ethics, accounting, organizational behavior, quantitative analysis, finance, operations, economics, and strategy. A useful lexicon of abbreviations leads the reader back to the explanation of each concept. We are a non-profit group that run this website to share documents. We need your help to maintenance this website. Please help us to share our service with your friends.

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