Assignments Senthil

8/8/2019 Assignments Senthil

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Challenges in Service MarketingManaging, growing, and profiting with both product and service businesses are challenging tasks. But the challenges aredifferent from one to the other. Listed below are some of the most common and difficult challenges of growing andmanaging consulting, professional, or technology service businesses that don't necessary apply to product businesses.

1. Clients can't see or touch services before they purchase them. This makes services difficult to conceptualize andevaluate from the client perspective, creating increased uncertainty and perception of risk. From the firm's perspective,service intangibility can make services difficult to promote, control quality, and set price.

1. Services are often produced and consumed simultaneously. This creates special challenges in service qualitymanagement that product companies do not even consider. Products are tested before they go out the door. If a producthas quality problems while in production, the company can fix them and customers are none the wiser. Service productionhappens with the customer present, creating a very different and challenging dynamic.

1. T rust is necessary. Some level of trust in the service organization and its people must be established before clients willengage services. This is as important, sometimes more important, than the service offerings and their value proposition.

1. Competition is often not who you think. Competition for product companies are other product companies. Competitionfor service companies are often the clients themselves. Sure, sometimes you find yourself in a competitive shootout (somefirms more than others), but often the client is asking 'should we engage this service at all' and 'if so, should we just do itin-house'.

1. B rand extends beyond marketing. Brand in service businesses is about who you are as much as what you say aboutyourself. And internal brand management and communications can be equally as vital to marketing success as are externalcommunications.

1. P roactive lead generation is difficult. Many service companies have tried, and failed, at using lead generation tacticsthat work wonders for product companies. Implemented correctly, traditional product techniques, such as direct marketingand selling, can work for services, but the special dynamics of how clients buy services must be carefully woven into your strategy.

1. Service deliverers often do the selling. Many product companies have dedicated sales forces. For services, the selling isoften split between sales, marketing, professional, and management staff.

1. Marketing and sales lose momentum. Most product companies have dedicated marketers and sellers. They market andsell continuously, regardless of the revenue levels they generate. In many services companies the marketers and sellersalso must manage and deliver. This can often lead to the Services Revenue Rollercoaster-wide swings between revenueand work overflow, and revenue and work drought.

1. P assion is necessary, yet elusive. The more passion, spirit, hustle, and desire your staff brings to the organization everyday, the more revenue and success you will have. The correlation between staff passion and financial success is direct andmeasurable (as is the correlation between lack-of-passion and organizational failure). Yet institutionalizing passion, whilenecessary, is agonizingly elusive.

Growth of trade union:

T he growth of trade unions in India started way back in 1850 when the economic conditions of labor was poor, T heindustry was dominated by the Capitalism, and the industrialists were more concerned about the productivity.Long working hours, Low wedges, poor living conditions and exploitation by the management was common in theindustry. Slowly in many parts of the country the workforces united and Factories Act 1881 was incorporated witha ban on Child labor, and conditions in working hours and improved working conditions. In next phase many trade unions were incorporated in the country under the leadership of Mahatma Gandhi inother parts of the country like West B angal, Ahamdabad, P unjab and others. All India trade union federation wasformed. After independence this took the shape of Indian Factory Act 1948 with regulation on working conditions,working hours, and other facilities at workplace.

T rade Union in India is the primary instrument for promoting the union of trade union movement and championing thecause of working class in India. The Madras Labor Union was the first organized T rade Union in India followed by a

large number of trade unions in the Indian industrial centers.



The Indian government passed the T rade Unions Act in 1926, which legalized the registered T rade Union in India . TheAct also gives protection to these trade unions against certain civil and criminal cases.

Significant T rade Union in India: There are at present many T rade Union in India which regulates the aspirations of the working classes . The All

India T rade Union Congress (AITUC) is the oldest T rade Union in India and till 1945 it remained the central tradeunion organization in India . Some others are like -

y All India B ank Officers Confederation - AIBOC is the premier organization of Bank Officers in India. This T radeUnion in India stands apart from the others as it is organized purely on apolitical lines.

y All India State Government Employees Federation - AISGF is a trade union organization representing stateemployees and teachers of different states in India.

y Center of Indian T rade Unions - CITU is one of the major T rade Union in India , opposing imperialistic intentions and patronizing interest of the working classes .

y H ind Mazdoor Sabha - HMS is a progressive T rade Union in India that prefers to refrain from political control.y N ational Confederation of Officer's Association -NCOA represents the managerial and supervisory staff of the Indian

government owned public Enterprises.y T rade Union International - TUI forms a part of the structure of World Federation of T rade Unions , representing the

public employees, telecommunication employees, health services, financial sector employees & municipal employees of different countries of the world.

The T rade Union in India is engaged in protesting against the attacks on trade union right, right to strike, right tocollective bargaining, reduction of social security, closure of industrial units and massive retrenchment of workers, andthe endangering growth of unemployment.

Entrepreneurial Skills

What skills are needed to be an entrepreneur? There are many skills that entrepreneurs develop over time, but there are a fewskills that every entrepreneur must have before opening their ³doors´ for business. Read through this list and if you find anyskills that you need to work on, develop them while you are building your business plan. Successful entrepreneurs have tostart with these six must-have skills.

#1 Self-Motivation

The most important skill any entrepreneur needs is the ability to wake up in the morning and begin working. If you have been10 minutes late to work everyday for the past five years, most likely that habit will not change if you own your own business.

Not only do you need to be able to wake-up, but you also need to be able to begin and end work on time. Many first timeentrepreneurs find themselves wasting away their day talking on the phone, filing and developing binders for clients that donot exist. Schedule your day and stick to your schedule.

#2 Self-Confidence

Every entrepreneur needs to be confident in themselves, their product and their business. You need to know that your product

can truly help people and that you are charging prices that are both fair to you and your clients.

#3 Ethics & Morals

Ethics and morals are the foundation of every good entrepreneur. Early on you must decide what you and your business willstand for and what lines you will refuse to cross. Many entrepreneurs close their doors because the dollar outshines their morals. If you stray too far from your morals you will give yourself and your business a bad name. No one wants to dobusiness with someone who will not stand up for their own morals.



4 T ime Management

As mentioned under Self-Motivation ± Schedule your day and stick to your schedule. This cannot be emphasized enough. New entrepreneurs need to realize that every minute is valuable. When first starting out, most likely you will not have enough³work´ to fill an eight hour day. This does not mean that you have time to take a 3 hour lunch with friends. Utilize this timeto learn more skills related to your business, find ways to advertise and contact potential clients.

#5 Sales

No matter how much you don¶t like the idea of it, every business has to work with sales. Each industry and business has aunique way of handling their sales. As an entrepreneur, it is your job to figure out what type of sales you prefer and what typeis best for your services or products. If you have ever worked in retail sales or advertising you already have an edge on mostother hopeful business people. All entrepreneurs will benefit from sales seminars, books and motivational programs.

#6 Finance

When in business, knowledge of finance is a must. Knowing how to balance a checkbook and keep track of numberedinvoices is all most small businesses need to start out. The most important aspect of small business finance is scheduling timespecifically for your f inance management and doing it. Granted it helps to have an accounting degree or extensiveQuickBooks knowledge but these skills are not mandatory.

Possessing or nurturing these skills before going into business will help ensure a successful outcome. So long as you have anexcellent salable idea and these six entrepreneurial skills, nothing can stop you from doing your best.

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Assignments Senthil