MARKET SURVEY

 It is a technique to help minimize risks and increase the probability of

success.
 market is changing rapidly so it is becoming more complex and
competitive .

DURING A MARKET SURVEY , ONE NEEDS TO FOCUS ON

 Size of the market- in terms of volume and value

 Pattern of Demand- seasonal or fluctuating
 Buying habits
 Unique selling proposition
 Market structure
 Past and present trends

DON'TS OF CONDUCTING MARKET SURVEY

Do not prejudiced-must be open minded and confident

Do not be impatient or argumentative
Do not write while discussing- Make notes immediately after an
interview.
Don't interview without preparation and sequencing of questions is very
important.
Do not reveal privilege information to others.
Don't approach competitors but meet them as Potential clients to get best
results.

ADVANTAGES OF SURVEY METHOD

 Questioning is faster and cheaper

 Data is reliable
 Low cost
 Automation and real time access-respondents input their own data , and
it is automatically stored electronically
 Less time- rapid deployment and return times are possible with online
surveys
 Convenience of respondents - they can answer questions at their
desirable time or schedule.
 DISADVANTAGES OF SURVEY METHOD

 Unwillingness of respondents to provide information.

 Limited availability of respondents.
 Inability of respondents-Lack of knowledge and lapse of memory
 Human Biases of the respondents are there, for eg. - "Ego"

SALE PROMOTION

 Any step taken for increasing sales is known as sale promotion.

 it means providing information to consumers towards commodities
and services.
 It may include distribution of free samples, free gifts, exhibitions,
competitions.

SALES PROMOTION METHODS/ DEVICES

1. Price Discount/ Price Off deals-
 It is most commonly used product techniques.
 It means reduction in the price of the promoted product.

2. Price Pack Deals-

 Also called value packs:
 it is of two types-
1. Bonus Pack- an additional quantity of same product is
offered free when the standard size of the product is
purchased at regular price. eq-Bisleri get 20% extra free
2. Banded Pack- contains special pack of product
containing more quantity but the price is proportionally
low . this is done to increase consumption, for
introduction of new quantity. eq. Dove soap buy 3 get 1
free.
3. Refunds and Rebates-
 refund is the repayment of total money paid for purchase.
 Rebate means payment of only one part of the money paid for
the purchase.
 Refunds guarantees the trial of a service or product since no risk
involved for the customer.

4. Coupon-
  entitles the customer for specified saving on the purchase of a
specified product.
 coupons are widely used.
 they bear an expiry date and cannot be redeemed after the cut-off
date.
 advantages- encourage brand switching, stimulate trial of a
product, take off the attention from price.

5. Contests-
 can draw attention of a brand like no other sales.
 contests offer prizes based on skill or ability.
 winners are panelled by a panel of judges.
 it was very earlier used where people were asked to write a
slogan , poem or story like why they like the product.

6. Free Samples-
 sampling is a sales promotion technique
 it is particularly useful for new products, but should not be
produced for new products only.
 can be very useful for established brands with weak market in
specific geographic areas.

FINANCIAL MANAGEMENT

 It is the life blood of an organisation .it implies funds

necessary for carrying the activities of an organisation
 funds include-
Fixed Capital-required for purchasing fixed assets i.e plant,
machinery, equipments etc.
Working Capital-required for purchasing raw materials ,
payment of wages etc.

OBJECTIVES OF FINANCIAL MANAGEMENT

 i. Profit Maximization-
o it is the main objective.
o A business must earn profit to cover its costs.
ii. Wealth Maximisation-
o finance manager should follow a policy which increases the
earnings per share in the long run.
o every decision should be made on cost - benefit- analysis.
benefit should be more than cost
iii. To maintain liquid assets-
o firms should have adequate cash to meet the obligations at all the
times
iv. To build up reserves for growth and expansion
v. To increase maximum efficiency by efficient utilisation of finances.