Market Development and the Importance of Economic Development to Essay

Market Development and the Importance of Economic Development to Marketers - Essay Example An Outline of the Stages of Market Development Which a Country Passes In The Process Of Developing Its Market of a Product or Service An outline of the stages of market development that each developing country passes through include; an invention of an apt idea, selecting of the appropriate ideas to apply, building up a preferred idea and verifying its viability, evaluation of the business, Beta testing and market testing, scientific execution, commercialization and new product value (Levitt, 2006, 25). An Explanation of the Stages of the Market Development Which a Country Can Go Through Invention of Suitable Idea Invention of suitable is the first stage in setting up or developing new markets. Organizations have adopted for stage process when operating in the small market. This is made possible because undivided attention is a lad on the customer’s need. A developing country has to monitor the types of ideas it initiates into its daily operation through monitoring and studyin g of consumer needs. Good inventions of ideas lead to quick achievements of the objectives of a firm or an organization. Suitable ideas will determine the marketing policies applied by nations in building new markets (Levitt, 2006, 59). Selection of the Appropriate Ideas to Apply This is the step in which potential ideas are separated from bad ideas. Not all initiatives are inimical; as a result, screening of ideas is done to lead to a positive growth of the organization. A developing nation has its processes passed through appropriate screening and promising ideas put in place for the country to grow positively. The ideas selected should follow the principle of AIDA (Awareness, Interest, Desire and Actions). The principle helps an entity to discern what it requires from a targeted market (Levitt, 2006, 71). Building and Verifying the Viability of a Preferred Idea This is the stage where the best results are taken for implementation into other products that can compete globally to t he other markets, and the proposed are tested. Developing nations passes through this stage since all the process and procedures that they apply in their operation are verified for viability. Evaluation of the Business Evaluation of the business involves a thorough evaluation of the souk like the market size in a particular environment. Evaluation of advertising strategy is a core aspect in the expansion of stable market for a country. Most countries have espoused business evaluation in their system to lessen the process they take in market expansion. Evaluation of the business helps the author clarify some useful notions that may be a hindrance in developing a new market. Beta testing and souk testing This refers to the development of model around a product to make it unique from other products. The profits ad losses accrued are used to resolve the feasibility of the merchandise. Beta testing and market testing are both processes that a country might pass through in an attempt to e xpand its market. Scientific Execution This involves implementation of new resources to improve the operations of resources within an organization. Countries wishing to expand their existing market are bound to bring in new equipments and knowledge required to lead to the growth of the market. Commercialization Commercialization involves the advertising of new products in the market. The product in most instances is unique to the market. Comme

Managing change at bingham business college Essay

Managing change at bingham business college - Essay Example Having said that, Stacey (2011, p.27) cautions that â€Å"the particular explanation one adopts directly affects the particular account one gives of any phenomena, including those to which the concepts of strategy and organisational change apply†. Thus this interpretation is partial and not objective, which is not how business situations should be viewed. The correct business approach to problem solving is represented in the rational decision-making process described by Miller et al (1996): Figure 1: Rational Decision Making Model (Source: based on Miller et al, 1996, p.76) This appears to be the approach taken by Snook when devising his new system. However, what he perceives as a problem is not necessarily a problem. His issue is how the Central Records Office appears to those outside of the Office, with data security and the impact of anticipated increases in student numbers seemingly secondary to his primary impression of the Office as being unprofessional. He wants the Col lege to appear professional and the Office to appear the same as part of that. He makes several assumptions about the original Office set-up, including it is inefficient (â€Å"it must be, it’s a mess†) and that a fundamental restructuring is needed. He ignores evidence showing the Office has been operating at 120% capacity, using the original system, that he doesn’t like, and proceeds with his ideas without advising the Office staff of the potential for additional student enrolments or asking them for their views on how the Office might need to change to deal with this. At no point has he actually discussed his opinion of the Office with the staff, which might have averted the crisis that now exists. He even ignores the warning from his â€Å"expert† that the Head of Central Records would not be comfortable with the proposals, projecting his own preferences onto Fearne to justify his decision. Ignoring Roberts’ point, when it is made by someone wh o has been at the College for some time and therefore knows how things operate both formally and informally, is a major error of judgment on the part of Snook, who has only been in post for a matter of months. A Learning Organisation Perspective A learning organisation is one that â€Å"encourages and facilitates the learning and development of people at all levels of the organisation, values the learning and simultaneously transforms itself† (Mullins, 2010, p.827). Stacey (2010, p.99) looks at different approaches to strategy, stating that one belief is that â€Å"an organisation’s strategic development could be better understood as arising in processes of learning†. Organisations become what they are due to â€Å"the quality of their learning processes†, with organisational leaders required to â€Å"design learning processes and inspire effective learning† (ibid). Fearne would argue the learning experience for her and her team is one of how not t o manage change. Snook’s imposition of the change indicates he does not consider the College to be a learning organisation, nor does he consider the Office staff have any knowledge which could be useful to him in redesigning the Office systems. He also believes the staff do not need development, which could have happened had he involved the staff in the change process. Stacey (ibid) refers to Senge’