Posts
Wednesday, June 9, 2010
Databases are used to maintain and organize large amounts of related information in an efficient manner. Databases incorporate various components including tables, queries, reports, and forms. The core element however is the database table. In designing a database table, you create a set of interrelated fields of information, such as name, street address, city, and state. There are one or more key fields that uniquely identify each table entry and the other fields are related to the information in the particular key. The key and the set of values for non-key fields constitute a record. The database table is a collection of records.
Getting Started
To start, double-click on the Microsoft Office Access shortcut icon on your Desktop or alternatively click on Start > All Programs > Microsoft Office > Microsoft Office Access. On the right-hand task pane, you are given two options for staring a new database: open an existing database file or create a new file. If you want to work on an existing file you have previously saved click on the Open icon and browse the directories for your file. If you want to create a new file click on Create a new file.
Figure 1
If you have chosen to close the task pane or are using earlier versions of the software which do not display the pane, you can achieve the same by clicking on File from the menu bar and then either Open or New.
Creating a New Database File
Once you select to create a new database file, the task pane will change to allow for selecting the type of file to create. For our purposes, we will choose Blank database. A window will appear requesting a file name and a location to save the newly created database file. Give the file a name and select the folder to save it in from the Save in drop down menu at the top of the save window and click on the Create button. Once you have saved the file, you are to select what database objects you would like to create and what method to use. We will be creating four types of objects: tables, queries, forms, and reports. We will address the tables first.
Getting Started
To start, double-click on the Microsoft Office Access shortcut icon on your Desktop or alternatively click on Start > All Programs > Microsoft Office > Microsoft Office Access. On the right-hand task pane, you are given two options for staring a new database: open an existing database file or create a new file. If you want to work on an existing file you have previously saved click on the Open icon and browse the directories for your file. If you want to create a new file click on Create a new file.
Figure 1
If you have chosen to close the task pane or are using earlier versions of the software which do not display the pane, you can achieve the same by clicking on File from the menu bar and then either Open or New.
Creating a New Database File
Once you select to create a new database file, the task pane will change to allow for selecting the type of file to create. For our purposes, we will choose Blank database. A window will appear requesting a file name and a location to save the newly created database file. Give the file a name and select the folder to save it in from the Save in drop down menu at the top of the save window and click on the Create button. Once you have saved the file, you are to select what database objects you would like to create and what method to use. We will be creating four types of objects: tables, queries, forms, and reports. We will address the tables first.
Features of MS-Excell
1. Microsoft Excel is a spreadsheet program that comes with Microsoft's Office software package. Excel is a commonly used program in finance due to its ability to provide digital data organization. Excel has a variety of basic features that make it useful, even for new users who do not know how to use its more advanced functions.
Storing Data
2. Perhaps the most useful basic feature of Excel is the ability to store and organize data. Organizing data in Excel is as simple as selecting a cell in a spreadsheet and typing in the value that you want to store. A single Excel spreadsheet can contain thousands of rows and columns, allowing you to store huge amounts of data in one place. A single Excel workbook can contain many worksheets; each worksheet is a separate spreadsheet. This allows you to store many different data tables within the same Excel file.
You can create simple data tables quickly, and you can move to different cells using the "Enter" and tab keys or the arrow keys on your keyboard, rather than using the mouse pointer. You can erase data by dragging a box around the desired cells and pressing on the "Delete" key, while you can copy data to different parts of a spreadsheet simply by selecting cells and using the copy and paste functions.
Charts and Graphs
3. Another basic feature of MS Excel is the ability to create customizable charts and graphs of data. Creating a basic chart or graph is relatively simple; you must select a range of cells in the table, choose to create a graph, and specify the graph type. Excel can produce many types of graphs, such as pie charts, bar charts and line charts. Graphs are especially useful for presentations, and you can copy your graphs into MS PowerPoint slides. Formatting
4. MS Excel allows for a wide range of formatting options similar to MS Word. You can alter font size, style and color, and you can highlight cells with different colors to differentiate data values. You can also increase or decrease the size and spacing of cells to fit the data.
Formulas
5. Excel offers you the ability to enter mathematical formulas into cells to carry out calculations on other cells. Formulas can be simple or complex, and one formula may even refer to a cell that contains a value calculated using a different formula, allowing for multiple levels of calculation. Excel also has several quick calculation tools, such as column averaging and totaling.
Storing Data
2. Perhaps the most useful basic feature of Excel is the ability to store and organize data. Organizing data in Excel is as simple as selecting a cell in a spreadsheet and typing in the value that you want to store. A single Excel spreadsheet can contain thousands of rows and columns, allowing you to store huge amounts of data in one place. A single Excel workbook can contain many worksheets; each worksheet is a separate spreadsheet. This allows you to store many different data tables within the same Excel file.
You can create simple data tables quickly, and you can move to different cells using the "Enter" and tab keys or the arrow keys on your keyboard, rather than using the mouse pointer. You can erase data by dragging a box around the desired cells and pressing on the "Delete" key, while you can copy data to different parts of a spreadsheet simply by selecting cells and using the copy and paste functions.
Charts and Graphs
3. Another basic feature of MS Excel is the ability to create customizable charts and graphs of data. Creating a basic chart or graph is relatively simple; you must select a range of cells in the table, choose to create a graph, and specify the graph type. Excel can produce many types of graphs, such as pie charts, bar charts and line charts. Graphs are especially useful for presentations, and you can copy your graphs into MS PowerPoint slides. Formatting
4. MS Excel allows for a wide range of formatting options similar to MS Word. You can alter font size, style and color, and you can highlight cells with different colors to differentiate data values. You can also increase or decrease the size and spacing of cells to fit the data.
Formulas
5. Excel offers you the ability to enter mathematical formulas into cells to carry out calculations on other cells. Formulas can be simple or complex, and one formula may even refer to a cell that contains a value calculated using a different formula, allowing for multiple levels of calculation. Excel also has several quick calculation tools, such as column averaging and totaling.
Saturday, June 5, 2010
Differences between Data and Information
Differences between data and information
The interchange of the words data and information is widespread, but M150 should help you to develop a clearer understanding of the differences between the two.
Data
* Facts, statistics used for reference or analysis.
* Numbers, characters, symbols, images etc., which can be processed by a computer.
* Data must be interpreted, by a human or machine, to derive meaning
* "Data is a representation of information" *
* Latin 'datum' meaning "that which is given"
* Data plural, datum singular (M150 adopts the general use of data as singular. Not everyone agrees.)
Information
* Knowledge derived from study, experience (by the senses), or instruction.
* Communication of intelligence.
* "Information is any kind of knowledge that is exchangeable amongst people, about things, facts, concepts, etc., in some context." *
* "Information is interpreted data" *
The interchange of the words data and information is widespread, but M150 should help you to develop a clearer understanding of the differences between the two.
Data
* Facts, statistics used for reference or analysis.
* Numbers, characters, symbols, images etc., which can be processed by a computer.
* Data must be interpreted, by a human or machine, to derive meaning
* "Data is a representation of information" *
* Latin 'datum' meaning "that which is given"
* Data plural, datum singular (M150 adopts the general use of data as singular. Not everyone agrees.)
Information
* Knowledge derived from study, experience (by the senses), or instruction.
* Communication of intelligence.
* "Information is any kind of knowledge that is exchangeable amongst people, about things, facts, concepts, etc., in some context." *
* "Information is interpreted data" *
DBMS
A Database Management System (DBMS) is a set of computer programs that controls the creation, maintenance, and the use of the database with computer as a platform or of an organization and its end users. It allows organizations to place control of organization-wide database development in the hands of database administrators (DBAs) and other specialists. A DBMS is a system software package that helps the use of integrated collection of data records and files known as databases. It allows different user application programs to easily access the same database. DBMSs may use any of a variety of database models, such as the network model or relational model. In large systems, a DBMS allows users and other software to store and retrieve data in a structured way. Instead of having to write computer programs to extract information, user can ask simple questions in a query language. Thus, many DBMS packages provide Fourth-generation programming language (4GLs) and other application development features. It helps to specify the logical organization for a database and access and use the information within a database. It provides facilities for controlling data access, enforcing data integrity, managing concurrency controlled, restoring database.
Friday, June 4, 2010
Using the SUM Feature of MS EXCEL
Using the SUM Function
The SUM function in Excel is specifically designed to add values from different ranges. The SUM Function can be typed into a cell in Excel, or inserted via the Insert Function tool to the left of your Formula bar. The syntax of the SUM Function is SUM(number1,number2, ...). SUM is the function name, and contained within the brackets are "arguments", or the pieces of information that Excel requires to complete the Function. The SUM function allows from 1 to 30 arguments (number 1, number ....) for which you require the total value or SUM.
Using Ctrl to Mark Cells
If you wish to add cells that are non-contiguous (not joined together), type in your function =SUM( click in the first cell you wish to add. Hold down your Ctrl key and click in all other cells you wish to add up, then type in a ). Typing in a comma instead of selecting with your Ctrl key also works just as efficiently as well.
Using SUM to Add a Range from a Different Worksheet.
You can easily use SUM to add up the same range in different worksheets. Click in the cell you want the result of your addition in, then holding down the Shift key, click on the next worksheet that you wish to include in your calculation and highlight the range to be used, then click Enter.
One thing to note here however, is that if you insert a worksheet in the middle of the range that you have told the SUM function to add, then the same range on that worksheet will be included in your sum.
TIP! If you wish to force any new inserted worksheets to be included in the SUM range, try this. insert a blank worksheet at the beginning of your sheets in your workbook, and a blank sheet at the end. Now in the cell that you wish the result of your addition to appear in type in =SUM( and then click on the new first blank worksheet and highlight the range you require to be added in all worksheets.
Hold down your Shift key and click on the new last blank worksheet, then close your bracket ) and hit enter. Now hide the first sheet and the last sheet by going to Format>Sheet>Hide. This will force any new worksheets to be included in the SUM range as all new worksheets will be between the 2 blank ones.
The SUM function in Excel is specifically designed to add values from different ranges. The SUM Function can be typed into a cell in Excel, or inserted via the Insert Function tool to the left of your Formula bar. The syntax of the SUM Function is SUM(number1,number2, ...). SUM is the function name, and contained within the brackets are "arguments", or the pieces of information that Excel requires to complete the Function. The SUM function allows from 1 to 30 arguments (number 1, number ....) for which you require the total value or SUM.
Using Ctrl to Mark Cells
If you wish to add cells that are non-contiguous (not joined together), type in your function =SUM( click in the first cell you wish to add. Hold down your Ctrl key and click in all other cells you wish to add up, then type in a ). Typing in a comma instead of selecting with your Ctrl key also works just as efficiently as well.
Using SUM to Add a Range from a Different Worksheet.
You can easily use SUM to add up the same range in different worksheets. Click in the cell you want the result of your addition in, then holding down the Shift key, click on the next worksheet that you wish to include in your calculation and highlight the range to be used, then click Enter.
One thing to note here however, is that if you insert a worksheet in the middle of the range that you have told the SUM function to add, then the same range on that worksheet will be included in your sum.
TIP! If you wish to force any new inserted worksheets to be included in the SUM range, try this. insert a blank worksheet at the beginning of your sheets in your workbook, and a blank sheet at the end. Now in the cell that you wish the result of your addition to appear in type in =SUM( and then click on the new first blank worksheet and highlight the range you require to be added in all worksheets.
Hold down your Shift key and click on the new last blank worksheet, then close your bracket ) and hit enter. Now hide the first sheet and the last sheet by going to Format>Sheet>Hide. This will force any new worksheets to be included in the SUM range as all new worksheets will be between the 2 blank ones.
Thursday, June 3, 2010
Computer, Types , Functions
• Computer:
A computer is an electronic device that processs data, converting it into information that is useful to people. Any computer is controlle by programmed instructions, which give the machine a purpose and guide it what to do.
•
• •
•
• The first step of solving a problem a a computsfs is to develop a computer program and them store it in the memory. The computer them executes the instructions in the program. The instructions generally direct the computer to perform three basic functions over and over again; these are processing, output. Collectively, these functions constitute the data processing cycle.
• Input: Input devices feed the computer facts or data to be processed.
• Processing: The control and storing of data, numerical comparisons and arithmetic operations are performed on the input data to produce the results.
• Output: The computer feeds the processed data or information to the output devices.
A computer reads a program and stores it in the memory and executes instructions to:
• Input data from disk, keyboard, and other storage media.
• Process data and
• Output results to display screen, disk or other media.
A computer is an electronic device that processs data, converting it into information that is useful to people. Any computer is controlle by programmed instructions, which give the machine a purpose and guide it what to do.
•
• •
•
• The first step of solving a problem a a computsfs is to develop a computer program and them store it in the memory. The computer them executes the instructions in the program. The instructions generally direct the computer to perform three basic functions over and over again; these are processing, output. Collectively, these functions constitute the data processing cycle.
• Input: Input devices feed the computer facts or data to be processed.
• Processing: The control and storing of data, numerical comparisons and arithmetic operations are performed on the input data to produce the results.
• Output: The computer feeds the processed data or information to the output devices.
A computer reads a program and stores it in the memory and executes instructions to:
• Input data from disk, keyboard, and other storage media.
• Process data and
• Output results to display screen, disk or other media.
Mini Computer v Micro Computer
Mini Computer which is great/large than micro computer but smaller than mainframe computer is called Mini Computer. Certainly it can be set up on a medium scale table; its weight is not more than 25 kg, Terminal facilities are avialable here.
Mini computer is also used is statistical and Banking purposes.
Example-IBM S/34, IBM S/36, IBM AS/400 etc.
Mini computer is also used is statistical and Banking purposes.
Example-IBM S/34, IBM S/36, IBM AS/400 etc.
Computer Generations
Development over the years have resulted in machines with greatly increased speeds, storage, memory, and computing power. The developments were so far-reaching and numerous that they are generally categorized by generations. Each generation is initiated by significant advances in computer hardware or computer software.
• First Generation (1942-1959): First-generation computers utilized vacuum tubes in their circuitry and for storage of data and instructions. The vacuum tube was bully, caused tremendous heat problems, and was never a reliable device, it caused a great number of breakdowns and inefficient operations. [Magnetic cords began to replace vacuum tubes as the principal memory device in the early machine. Small doughnut-shaped cores were strung on wires within the computer.] Programs were written in machine language employing combinations of 0 and 1. Examples of first generation computers are IBM 650, IBM 7O4, IBM 705, IBM 709, Mark II, Mark III etc.
• Second Generation (1960-1965) The second generation computers raw the replacement of the vacuum tubes by transistor can be thought of as a switch, but no moving parts. Because of high speed operation and small size, computers of this generation could perform a single operation in microseconds and were capable of storing tens of thousands of characters. [Manufactures began producing business-oriented computers with more efficient storage and faster input and output capabilities. Second generation computers efficient storage and faster input and output capabilities. Second generation computers were reliable, compact in size, virtually free of heat problems.] Programming was done in both machine and symbolic languages. Symbolic languages utilize symbolic names for computer commands and allow the use of symbolic names for items of data. This language is also known as assembly language. Examples of second generation computers are: IBM 1400, CDC 1604, RCA 501, NCR 300, GE 200, IBM 1600 etc.
• Third Generation (1965-1971) These computers were characterized by integrated circuits with component so small that in many cases they were hardly visible to the naked eye. Third generation computers wre characterized by increased input/output, storage, and processing capabilities. Input/output devices could communicate with computers over distances via ordinary telephone lines or could scan a said and input the information directly into the computer even accept voice input.
Storage capabilities wre increased and millions of characters could be stored and randomly accesssed in fractions of a second. Third-generation computers could process instructions in nanoseconds. In addition, computers were able to process several programs or sets of instructions simultaneously. Programmmers were able to make use of high-level problem oriented and procedure oriented languages that closely resembles the commonly used form of expressions. Examples of third generation computers are IBM 360, IBM 370, PDP-8, PDP-11, GE 600 etc.
• Fourth Generation (1972-Present) The fourth generation computers posses still greater input/output, storage, and processing capabilities. In the fourth generation computers, semiconductor storage devices were introduced. In the early 1970s IBM introduced the concept of virtual storage into their 5000 and 370 series of computers. Machines previously limited to a maximum internal storage capability in billions and trillions of characters. With this capability a machine could execute a program many times the size of the machine's actual memory. Microcomputers using microprocessors as the CPU proliferated in the fourth generation.
Now a days, the compact disk (CD) promises to become the data storage medium of choice. A compact disk read-only memory (CD-ROM) is encoded with on and off bits. Bits are stored on the disk's (3.5-inch diameter) aluminum surface as tiny pits at varying depths. The average CD can store about 4,800 million bits or 600 million characters of data. This is approximately a quarter of a million pages of text.
The most impressive advancement has occured in software. As a result of these changes, access to substantial computer power, previously only affordable by very large business concerns, is now economically feasible for small business and personal applications. Personal computers are examples of fourth generation microcomputers.
• Fifth Generation
Fifth generation of computers is yet to come. They will be capable of reasoning, learning, making inferences and behaving in ways usually considered exclusive of humans. These computers will be drugsed with massive primary-storage capabilities and extremely fast processing speeds. Software will proliferate and get much bigger. Hardware will continue to shrink in size but internal memory will increase dramatically. "Talking machines" will be common place. Voice-recognition, the ability for a machine to understand and obey spoken words will be developed. Industrial and personal robots will roll and wall. Experts systems software will place the knowledge of experts and consultants (such as doctors, lawyers and teachers) as the disposal of general power of an inconceivable magnitude. Artificial intelligence will be used extensively to enhance the system behavior in the future.
• First Generation (1942-1959): First-generation computers utilized vacuum tubes in their circuitry and for storage of data and instructions. The vacuum tube was bully, caused tremendous heat problems, and was never a reliable device, it caused a great number of breakdowns and inefficient operations. [Magnetic cords began to replace vacuum tubes as the principal memory device in the early machine. Small doughnut-shaped cores were strung on wires within the computer.] Programs were written in machine language employing combinations of 0 and 1. Examples of first generation computers are IBM 650, IBM 7O4, IBM 705, IBM 709, Mark II, Mark III etc.
• Second Generation (1960-1965) The second generation computers raw the replacement of the vacuum tubes by transistor can be thought of as a switch, but no moving parts. Because of high speed operation and small size, computers of this generation could perform a single operation in microseconds and were capable of storing tens of thousands of characters. [Manufactures began producing business-oriented computers with more efficient storage and faster input and output capabilities. Second generation computers efficient storage and faster input and output capabilities. Second generation computers were reliable, compact in size, virtually free of heat problems.] Programming was done in both machine and symbolic languages. Symbolic languages utilize symbolic names for computer commands and allow the use of symbolic names for items of data. This language is also known as assembly language. Examples of second generation computers are: IBM 1400, CDC 1604, RCA 501, NCR 300, GE 200, IBM 1600 etc.
• Third Generation (1965-1971) These computers were characterized by integrated circuits with component so small that in many cases they were hardly visible to the naked eye. Third generation computers wre characterized by increased input/output, storage, and processing capabilities. Input/output devices could communicate with computers over distances via ordinary telephone lines or could scan a said and input the information directly into the computer even accept voice input.
Storage capabilities wre increased and millions of characters could be stored and randomly accesssed in fractions of a second. Third-generation computers could process instructions in nanoseconds. In addition, computers were able to process several programs or sets of instructions simultaneously. Programmmers were able to make use of high-level problem oriented and procedure oriented languages that closely resembles the commonly used form of expressions. Examples of third generation computers are IBM 360, IBM 370, PDP-8, PDP-11, GE 600 etc.
• Fourth Generation (1972-Present) The fourth generation computers posses still greater input/output, storage, and processing capabilities. In the fourth generation computers, semiconductor storage devices were introduced. In the early 1970s IBM introduced the concept of virtual storage into their 5000 and 370 series of computers. Machines previously limited to a maximum internal storage capability in billions and trillions of characters. With this capability a machine could execute a program many times the size of the machine's actual memory. Microcomputers using microprocessors as the CPU proliferated in the fourth generation.
Now a days, the compact disk (CD) promises to become the data storage medium of choice. A compact disk read-only memory (CD-ROM) is encoded with on and off bits. Bits are stored on the disk's (3.5-inch diameter) aluminum surface as tiny pits at varying depths. The average CD can store about 4,800 million bits or 600 million characters of data. This is approximately a quarter of a million pages of text.
The most impressive advancement has occured in software. As a result of these changes, access to substantial computer power, previously only affordable by very large business concerns, is now economically feasible for small business and personal applications. Personal computers are examples of fourth generation microcomputers.
• Fifth Generation
Fifth generation of computers is yet to come. They will be capable of reasoning, learning, making inferences and behaving in ways usually considered exclusive of humans. These computers will be drugsed with massive primary-storage capabilities and extremely fast processing speeds. Software will proliferate and get much bigger. Hardware will continue to shrink in size but internal memory will increase dramatically. "Talking machines" will be common place. Voice-recognition, the ability for a machine to understand and obey spoken words will be developed. Industrial and personal robots will roll and wall. Experts systems software will place the knowledge of experts and consultants (such as doctors, lawyers and teachers) as the disposal of general power of an inconceivable magnitude. Artificial intelligence will be used extensively to enhance the system behavior in the future.
Wednesday, May 19, 2010
OS, Components, Functions/Tasks
Operating System
An operating system is a software system. It acts as an interface between a user of a computer and the computer hardware. The operating system provides an environment in which a user may execute programs. The goals of an operating system are to :
Make the computer system convenient for users.
Make the efficient use of the computer hardware.
An operating system is an important part of a computer system. A computer can be viewed to have four components :
Hardware (CPU, memory, I/O devices etc.)
Operating system
Application programs (compilers, database systems, video games, business programs etc.)
Users (people, machines or other computers).
The Tasks of an Operating System
The most important task of an operating system is to process commands and to provide coordination between different processing tasks.
Processing Commands: The operating system interprets instructions entered through the keyboard. When one uses an application program, the program's commands are interpreted by the operating system.
Multitasking: Modern operating system allow to multitask, that is, to perform multiple tasks, at the same time with different programs.
Multithreading: Most application process data and commands sequentially, i.e., when one task is finished they begin another. The application therefore follows a single thread from the begining of a session to the end and individual operations are strung like beads on a necklace.
Multi-user Support: Some operating systems are designed so that many users can be connected to the system at the same time. Multi-user operating systems are also multitasking because the multiple users run their programs at the same time.
Multiprocessor Support: Some application need huge processing power. Some operating systems support multiple processors-in some cases hundreds or even more.
Miscellaneous Tasks: In addition to the processing tasks discussed, an operating system also performs the following tasks:
The operating system continually monitors the system and if it detects something wrong, it outputs an error message.
The operating system manages the use of memory and stop each programs in its own protected space so that a problem with one program will not affect others.
The operating system allocates peripheral devices for different tasks.
To conserve power, power management cuts power at those times when it is not needed.
Management file stored on disks.
An operating system is a software system. It acts as an interface between a user of a computer and the computer hardware. The operating system provides an environment in which a user may execute programs. The goals of an operating system are to :
Make the computer system convenient for users.
Make the efficient use of the computer hardware.
An operating system is an important part of a computer system. A computer can be viewed to have four components :
Hardware (CPU, memory, I/O devices etc.)
Operating system
Application programs (compilers, database systems, video games, business programs etc.)
Users (people, machines or other computers).
The Tasks of an Operating System
The most important task of an operating system is to process commands and to provide coordination between different processing tasks.
Processing Commands: The operating system interprets instructions entered through the keyboard. When one uses an application program, the program's commands are interpreted by the operating system.
Multitasking: Modern operating system allow to multitask, that is, to perform multiple tasks, at the same time with different programs.
Multithreading: Most application process data and commands sequentially, i.e., when one task is finished they begin another. The application therefore follows a single thread from the begining of a session to the end and individual operations are strung like beads on a necklace.
Multi-user Support: Some operating systems are designed so that many users can be connected to the system at the same time. Multi-user operating systems are also multitasking because the multiple users run their programs at the same time.
Multiprocessor Support: Some application need huge processing power. Some operating systems support multiple processors-in some cases hundreds or even more.
Miscellaneous Tasks: In addition to the processing tasks discussed, an operating system also performs the following tasks:
The operating system continually monitors the system and if it detects something wrong, it outputs an error message.
The operating system manages the use of memory and stop each programs in its own protected space so that a problem with one program will not affect others.
The operating system allocates peripheral devices for different tasks.
To conserve power, power management cuts power at those times when it is not needed.
Management file stored on disks.
Operating System's Features and Types
Operating System Characteristics
There are a variety of criteria, some of which can be used to compare operating systems. These are as follows:
Character-based or graphical user interface based
Single tasking or multitasking
Single threading or multithreading
Weak or strong security
8, 16, 32 and 64 bits processed at a time
Portable or not (a portable operating system is not dependent on a specific microprocessor.)
Proprietary or open (proprietary operating systems work only with one type of computer, open operating systems run on a variety of machines).
Types of Operating Systems
Desktop Operating Systems : Operating System that run on desktop computers are the least powerful and least secure operating systems. They are also the most common. Three common types are :
Windows,
Apple's System 8, or
Rapidly fading DOS.
There are a variety of criteria, some of which can be used to compare operating systems. These are as follows:
Character-based or graphical user interface based
Single tasking or multitasking
Single threading or multithreading
Weak or strong security
8, 16, 32 and 64 bits processed at a time
Portable or not (a portable operating system is not dependent on a specific microprocessor.)
Proprietary or open (proprietary operating systems work only with one type of computer, open operating systems run on a variety of machines).
Types of Operating Systems
Desktop Operating Systems : Operating System that run on desktop computers are the least powerful and least secure operating systems. They are also the most common. Three common types are :
Windows,
Apple's System 8, or
Rapidly fading DOS.
Tuesday, May 18, 2010
Features of MS-Excell
1. Microsoft Excel is a spreadsheet program that comes with Microsoft's Office software package. Excel is a commonly used program in finance due to its ability to provide digital data organization. Excel has a variety of basic features that make it useful, even for new users who do not know how to use its more advanced functions.
Storing Data
2. Perhaps the most useful basic feature of Excel is the ability to store and organize data. Organizing data in Excel is as simple as selecting a cell in a spreadsheet and typing in the value that you want to store. A single Excel spreadsheet can contain thousands of rows and columns, allowing you to store huge amounts of data in one place. A single Excel workbook can contain many worksheets; each worksheet is a separate spreadsheet. This allows you to store many different data tables within the same Excel file.
You can create simple data tables quickly, and you can move to different cells using the "Enter" and tab keys or the arrow keys on your keyboard, rather than using the mouse pointer. You can erase data by dragging a box around the desired cells and pressing on the "Delete" key, while you can copy data to different parts of a spreadsheet simply by selecting cells and using the copy and paste functions.
Charts and Graphs
3. Another basic feature of MS Excel is the ability to create customizable charts and graphs of data. Creating a basic chart or graph is relatively simple; you must select a range of cells in the table, choose to create a graph, and specify the graph type. Excel can produce many types of graphs, such as pie charts, bar charts and line charts. Graphs are especially useful for presentations, and you can copy your graphs into MS PowerPoint slides. Formatting
4. MS Excel allows for a wide range of formatting options similar to MS Word. You can alter font size, style and color, and you can highlight cells with different colors to differentiate data values. You can also increase or decrease the size and spacing of cells to fit the data.
Formulas
5. Excel offers you the ability to enter mathematical formulas into cells to carry out calculations on other cells. Formulas can be simple or complex, and one formula may even refer to a cell that contains a value calculated using a different formula, allowing for multiple levels of calculation. Excel also has several quick calculation tools, such as column averaging and totaling.
Storing Data
2. Perhaps the most useful basic feature of Excel is the ability to store and organize data. Organizing data in Excel is as simple as selecting a cell in a spreadsheet and typing in the value that you want to store. A single Excel spreadsheet can contain thousands of rows and columns, allowing you to store huge amounts of data in one place. A single Excel workbook can contain many worksheets; each worksheet is a separate spreadsheet. This allows you to store many different data tables within the same Excel file.
You can create simple data tables quickly, and you can move to different cells using the "Enter" and tab keys or the arrow keys on your keyboard, rather than using the mouse pointer. You can erase data by dragging a box around the desired cells and pressing on the "Delete" key, while you can copy data to different parts of a spreadsheet simply by selecting cells and using the copy and paste functions.
Charts and Graphs
3. Another basic feature of MS Excel is the ability to create customizable charts and graphs of data. Creating a basic chart or graph is relatively simple; you must select a range of cells in the table, choose to create a graph, and specify the graph type. Excel can produce many types of graphs, such as pie charts, bar charts and line charts. Graphs are especially useful for presentations, and you can copy your graphs into MS PowerPoint slides. Formatting
4. MS Excel allows for a wide range of formatting options similar to MS Word. You can alter font size, style and color, and you can highlight cells with different colors to differentiate data values. You can also increase or decrease the size and spacing of cells to fit the data.
Formulas
5. Excel offers you the ability to enter mathematical formulas into cells to carry out calculations on other cells. Formulas can be simple or complex, and one formula may even refer to a cell that contains a value calculated using a different formula, allowing for multiple levels of calculation. Excel also has several quick calculation tools, such as column averaging and totaling.
Sunday, May 16, 2010
Database Management
A Database Management System (DBMS) is a set of computer programs that controls the creation, maintenance, and the use of the database with computer as a platform or of an organization and its end users. It allows organizations to place control of organization-wide database development in the hands of database administrators (DBAs) and other specialists. A DBMS is a system software package that helps the use of integrated collection of data records and files known as databases. It allows different user application programs to easily access the same database. DBMSs may use any of a variety of database models, such as the network model or relational model. In large systems, a DBMS allows users and other software to store and retrieve data in a structured way. Instead of having to write computer programs to extract information, user can ask simple questions in a query language. Thus, many DBMS packages provide Fourth-generation programming language (4GLs) and other application development features. It helps to specify the logical organization for a database and access and use the information within a database. It provides facilities for controlling data access, enforcing data integrity, managing concurrency controlled, restoring database.
Saturday, May 15, 2010
The Communication
Process (System)
Meaning of the Communication Process
A process consists of a series of
interrelated steps taken one after another with a
view to accomplishing a desired goal. The communication process js similarly an aggregate of many steps or operations involved
in the transmission of a message. In
other words, the total number of activities performed one after another in the exchange of a message between two or more
persons is called a communication
process. Virtually, the communication'process begins when a communicator sends
a message (being developed and encoded earlier) and ends when a receiver (after receiving) understands and
provides feedback to the original sender.
Thus, a communication process more precisely may be denned as a system which consists of developing a message,
encoding and transmitting it (by a sender on the one side); the receiving and
decoding of the message, understanding and
accepting, and finally using the message and giving response (by the receiver m the other side). Barker (1981) defines the
communication process as, "A system
that involves an interrelated, interdependent group of elements working
together as a whole to achieve a desired outcome or goal" (P.6).
The communication process is cyclical. Upon decoding a
message, understanding same
and taking action, a receiver sends his/her own reaction to the original sender
a cycle thus is formed at least once. Megginson (1985) also holds the same
view. He reflects the view as, "Communication is a cycle of interrelated
stages that include (1)
an idea, thought or mental impression, which (2) is translated, encoded, or put
into symbols, which
then (3) are transmitted to someone else, who (4) receives them and (5) retranslates or decodes them
back into an idea. Yet communicating is not complete until there is some form
of response" (P.335).
Thus, we see that the communication
process involves the following sequence of events/steps : ideation, encoding, transmitting, receiving,
decoding, understanding and finally providing feedback (action). The steps
involved in the communication process are
displayed in figure 2.1.
The dotted spaces above and below
the figure symbolize barriers (noise, road block and so forth) that can take place at any stage in
the communication cycle.
Process (System)
Meaning of the Communication Process
A process consists of a series of
interrelated steps taken one after another with a
view to accomplishing a desired goal. The communication process js similarly an aggregate of many steps or operations involved
in the transmission of a message. In
other words, the total number of activities performed one after another in the exchange of a message between two or more
persons is called a communication
process. Virtually, the communication'process begins when a communicator sends
a message (being developed and encoded earlier) and ends when a receiver (after receiving) understands and
provides feedback to the original sender.
Thus, a communication process more precisely may be denned as a system which consists of developing a message,
encoding and transmitting it (by a sender on the one side); the receiving and
decoding of the message, understanding and
accepting, and finally using the message and giving response (by the receiver m the other side). Barker (1981) defines the
communication process as, "A system
that involves an interrelated, interdependent group of elements working
together as a whole to achieve a desired outcome or goal" (P.6).
The communication process is cyclical. Upon decoding a
message, understanding same
and taking action, a receiver sends his/her own reaction to the original sender
a cycle thus is formed at least once. Megginson (1985) also holds the same
view. He reflects the view as, "Communication is a cycle of interrelated
stages that include (1)
an idea, thought or mental impression, which (2) is translated, encoded, or put
into symbols, which
then (3) are transmitted to someone else, who (4) receives them and (5) retranslates or decodes them
back into an idea. Yet communicating is not complete until there is some form
of response" (P.335).
Thus, we see that the communication
process involves the following sequence of events/steps : ideation, encoding, transmitting, receiving,
decoding, understanding and finally providing feedback (action). The steps
involved in the communication process are
displayed in figure 2.1.
The dotted spaces above and below
the figure symbolize barriers (noise, road block and so forth) that can take place at any stage in
the communication cycle.
Elements of Communication Process
Essential Elements-(Components) of the Communication Process
Although a communicator, a communicatee and a message constitute the
basic elements of communication, the modem communication process includes many other elements. The elements included in modem day communication are briefly discussed below:
1. Sender (Communicator): The person sending the message is called the communicator. He initiates and makes the decision to be sent. In this sense, he is the intermediate source of information. A sender in the communication process irresponsible for selection of an intended message and encoding of the message. The sender initiates the message out of reaction developed in his mind from stimuli (eitherexternal or internal or both).
2. Source: In order for communication to take place, there must be a source of information. Although a sender is the immediate source of information, due ultimate source is stimuli. For communication to occur, the source must be there to generate information.
3. Stimulus: A stimulus, is something that causes a reaction in a plant or part of the body. It creates a need to communicate and hence there must be a stimulus for communication to take place. This stimulus may be external or internal.
When it develops in an environment, it is called an external stimulus. An external stimulus is an event or a situation that creates areaction with an individual. This reaction leads one to
communicate. The external stimulus comes to you through sensory organs - eyes, ears, nose, mouth and skin. A memo or letter you just read, a presentation you heard of a meeting or a bit of gossip you heard over lunchare a few examples of external stimuli for communicating in business. An internal stimulus, better known as impulse is simply an idea or a strong desire to do something. This idea usually, develops all of a sudden within your mind without thinking about the results i.e. whether it is a sensible thing to do.
4. Filter: A filter is a piece of equipment or a device used to refine liquid, light, etc. Incase of communication, it is something that helps
a person to shape his unique impression of reality. We know that everybody's perception of reality is not alike. It varies from person to person. This variation
takes place because of the variation of the indivisual experience, culture, emotions at the moment, personality, knowledge, socio-economic status and a host of other variables. These variables act as filters to refine the message received. The filtration is done through interpreting the message received with the help of the above variables so as to derive a precise meaning.
5. Message: The next element in the communication process is a message. When the idea has been encoded, it is called a message. Thus a message is an encoded information (either verbal or non-verbal) which is communicated to the destination. It is the result of encoding. Information to be sent may or may not be factual - it may bean idea or opinion or a combination of both the fact and opinion. A message is very important element, because communication occurs if there is a message which, needs to be sent to the intended receiver. If there is no message, there will be no communication.
6. Medium: When the infonnation has been encoded, a sender is to choose amedium. A medium is a means by which something is expressed or communicated to others. It is also known as the forms of messages to be sent. The media for oral messages (through which messages are orally expressed) are conversations, telephone calls, voice mail, conferences, meetings and the like. Oral messages may also be sent even through such informal means as grapevines. Written
messages may be communicated through a letter, memo, report, newspaper, press release, e-mail, etc. Non-verbal messages may be communicated through gestures, facial expressions, body movements, dresses, etc.
7. Channel: Channels are the means (pathways or devices) through which messages are sent to the eommunicatee. A message itself cannot reach theeommunicatee. Naturally a sender is to send the message in the receiver's direction by placing it into a communication channel. Thus channels act as the carriers which carry messages from senders to receivers. Radio waves, telephone lines, television terrestrials are examples of channels. Sometimes channels and media are used in the same sense.
8. Receiver (or Destination): A receiver is a person or a body which receives a message. The receiver may be an individual or an organisation. After receiving the message the receiver decodes (interprets) the message
so as to give a precise meaning to the message received. In case of two-way communication, the receiver of the message provides feedback to the original sender of the message. Receivers' presence is inevitable for communication to take place. If a man
cries in a desert, devoid of human beings, to save his life, his message (crying) will produce no fruitful results as there is none there to receive the message (i.e. to hear the crying). So there must be a receiver on
the other side of the communication process to receive the message sent by the sender.
9. Understanding: The receiver must underst and the message passed on to himby the transmitter. Thus, if an English speaking person
addresses a Bengali speaking person in English, communication cannot take place, because the message is not understood by the receiver. Feedback is your audience's response. It is information
10. Feedback: Feedback is your audience's response. It is information about how the receiver is receiving your words. To get any
fruitful result from communication, it is to be ensured that the intended communicatee understands the message in the way the communicator desires. But communicating is not free from barriers. It may be hindered at any point (i.e., at encoding, transmitting, receiving, decoding) along the process line.
The process must be repeated in reverse so that the original sender can know what the communicatee has understood from the message received. This return (reverse) message is called feedback. Feedback is the only way to determine whether the decoded idea of the receiver corresponds with the idea the sender had in his mind. So feedback is a very important element for effective communication. However, feedback is not necessary for communication to like place.
From the discussion, it appears without any doubt that each and every element is highly essential to make communication
complete and effective. In the truest sense,
communication cannot occur in the absence of any of these component.
Although a communicator, a communicatee and a message constitute the
basic elements of communication, the modem communication process includes many other elements. The elements included in modem day communication are briefly discussed below:
1. Sender (Communicator): The person sending the message is called the communicator. He initiates and makes the decision to be sent. In this sense, he is the intermediate source of information. A sender in the communication process irresponsible for selection of an intended message and encoding of the message. The sender initiates the message out of reaction developed in his mind from stimuli (eitherexternal or internal or both).
2. Source: In order for communication to take place, there must be a source of information. Although a sender is the immediate source of information, due ultimate source is stimuli. For communication to occur, the source must be there to generate information.
3. Stimulus: A stimulus, is something that causes a reaction in a plant or part of the body. It creates a need to communicate and hence there must be a stimulus for communication to take place. This stimulus may be external or internal.
When it develops in an environment, it is called an external stimulus. An external stimulus is an event or a situation that creates areaction with an individual. This reaction leads one to
communicate. The external stimulus comes to you through sensory organs - eyes, ears, nose, mouth and skin. A memo or letter you just read, a presentation you heard of a meeting or a bit of gossip you heard over lunchare a few examples of external stimuli for communicating in business. An internal stimulus, better known as impulse is simply an idea or a strong desire to do something. This idea usually, develops all of a sudden within your mind without thinking about the results i.e. whether it is a sensible thing to do.
4. Filter: A filter is a piece of equipment or a device used to refine liquid, light, etc. Incase of communication, it is something that helps
a person to shape his unique impression of reality. We know that everybody's perception of reality is not alike. It varies from person to person. This variation
takes place because of the variation of the indivisual experience, culture, emotions at the moment, personality, knowledge, socio-economic status and a host of other variables. These variables act as filters to refine the message received. The filtration is done through interpreting the message received with the help of the above variables so as to derive a precise meaning.
5. Message: The next element in the communication process is a message. When the idea has been encoded, it is called a message. Thus a message is an encoded information (either verbal or non-verbal) which is communicated to the destination. It is the result of encoding. Information to be sent may or may not be factual - it may bean idea or opinion or a combination of both the fact and opinion. A message is very important element, because communication occurs if there is a message which, needs to be sent to the intended receiver. If there is no message, there will be no communication.
6. Medium: When the infonnation has been encoded, a sender is to choose amedium. A medium is a means by which something is expressed or communicated to others. It is also known as the forms of messages to be sent. The media for oral messages (through which messages are orally expressed) are conversations, telephone calls, voice mail, conferences, meetings and the like. Oral messages may also be sent even through such informal means as grapevines. Written
messages may be communicated through a letter, memo, report, newspaper, press release, e-mail, etc. Non-verbal messages may be communicated through gestures, facial expressions, body movements, dresses, etc.
7. Channel: Channels are the means (pathways or devices) through which messages are sent to the eommunicatee. A message itself cannot reach theeommunicatee. Naturally a sender is to send the message in the receiver's direction by placing it into a communication channel. Thus channels act as the carriers which carry messages from senders to receivers. Radio waves, telephone lines, television terrestrials are examples of channels. Sometimes channels and media are used in the same sense.
8. Receiver (or Destination): A receiver is a person or a body which receives a message. The receiver may be an individual or an organisation. After receiving the message the receiver decodes (interprets) the message
so as to give a precise meaning to the message received. In case of two-way communication, the receiver of the message provides feedback to the original sender of the message. Receivers' presence is inevitable for communication to take place. If a man
cries in a desert, devoid of human beings, to save his life, his message (crying) will produce no fruitful results as there is none there to receive the message (i.e. to hear the crying). So there must be a receiver on
the other side of the communication process to receive the message sent by the sender.
9. Understanding: The receiver must underst and the message passed on to himby the transmitter. Thus, if an English speaking person
addresses a Bengali speaking person in English, communication cannot take place, because the message is not understood by the receiver. Feedback is your audience's response. It is information
10. Feedback: Feedback is your audience's response. It is information about how the receiver is receiving your words. To get any
fruitful result from communication, it is to be ensured that the intended communicatee understands the message in the way the communicator desires. But communicating is not free from barriers. It may be hindered at any point (i.e., at encoding, transmitting, receiving, decoding) along the process line.
The process must be repeated in reverse so that the original sender can know what the communicatee has understood from the message received. This return (reverse) message is called feedback. Feedback is the only way to determine whether the decoded idea of the receiver corresponds with the idea the sender had in his mind. So feedback is a very important element for effective communication. However, feedback is not necessary for communication to like place.
From the discussion, it appears without any doubt that each and every element is highly essential to make communication
complete and effective. In the truest sense,
communication cannot occur in the absence of any of these component.
Mail merge
Mail merge is a software function describing the production of multiple (and potentially large numbers of) documents from a single template form and a structured data source.
A feature supported by many word processors that enables you to generate form letters. To use a mail-merge system, you first store a set of information, like a list of names and addresses, in one file. In another file, you write a letter, substituting special symbols in place of names and addresses (or whatever other information will come from the first file). For example, you might write:
Dear NAME:
Our records show that your address is:
STREET
CITY, STATE ZIP
If this is incorrect,...
When you execute the merge command, the word processor automatically generates letters by replacing symbols (NAME, STREET, CITY, STATE, and ZIP) in the second file with the appropriate data from the first file
The power and flexibility of mail merge systems varies considerably from one word processor to another. Some word processors support a full set of logical operators that enable you to specify certain conditions under which information should be merged. Also, some merge systems allow you to merge data from several files at once.
Mail merge is sometimes called print merge.
A feature supported by many word processors that enables you to generate form letters. To use a mail-merge system, you first store a set of information, like a list of names and addresses, in one file. In another file, you write a letter, substituting special symbols in place of names and addresses (or whatever other information will come from the first file). For example, you might write:
Dear NAME:
Our records show that your address is:
STREET
CITY, STATE ZIP
If this is incorrect,...
When you execute the merge command, the word processor automatically generates letters by replacing symbols (NAME, STREET, CITY, STATE, and ZIP) in the second file with the appropriate data from the first file
The power and flexibility of mail merge systems varies considerably from one word processor to another. Some word processors support a full set of logical operators that enable you to specify certain conditions under which information should be merged. Also, some merge systems allow you to merge data from several files at once.
Mail merge is sometimes called print merge.
COMMUNICATION PROCESS, ESSENTIAL ELEMENT
Communication is the process of exchanging information and understanding from one person to another person. It provides a bridge of meaning by which people can share their feelings. The communication process has eight sequential steps which is shown in following figure.
Message
SENDER Develop Encode Transmit|Barriers :: Bridge of meaning |Recieve Decode Accept Use RECIEVER
Feedback for two-way communication
Figure: The Communication Process
[Source: J. W. Newstrom & K. Davis: 2002]
• Step-1: Develop idea: In any kind of communication at first the sender develop an idea which he/she wants to transmit.
• Step-2: In this step sender convert the idea into a message by using suitable words, charts, or any other symbol. Here the sender uses his/her own 'filter of concept' to develop the message.
• Step-3: Transmit: After encoding the message sender takes initiative to transfer the message to reciever. Sender also select proper media for the transmission of message.
• Step-4: Recieve: Here receiver receiver the message which is transferred by the sender. If the receiver do not receive the message then the communication failed.
• Decode: To understand the received the message the receiver need to decode the message. Decoding is the process of 'explanation of the message' which produce the meaning of the message. This step is very important for the success of communication because understanding of the message completely depend on it.
• Step-6: Accept: After decoding, it depends on the receiver whether he/she will accept or select the message. Acceptance mainly depends on the credibility of the sender and attitude of the receiver.
• Step-7: Use: This step also controlled by the receiver. The receiver can use the message immediately or in future considering his/her interest.
• Step-8: Feedback: It is the last but perhaps the most important step for successful communication. In this step the receiver responds to the sender. The loop of communication infact completes with the response of the receiver, which is known as feedback.
Whether the message is accepted or not can be realised by the feedback of the receiver.
• These are the steps of the communication process. It should be mentioned that there are some barriers in the communication process which can disturb whole process.
Message
SENDER Develop Encode Transmit|Barriers :: Bridge of meaning |Recieve Decode Accept Use RECIEVER
Feedback for two-way communication
Figure: The Communication Process
[Source: J. W. Newstrom & K. Davis: 2002]
• Step-1: Develop idea: In any kind of communication at first the sender develop an idea which he/she wants to transmit.
• Step-2: In this step sender convert the idea into a message by using suitable words, charts, or any other symbol. Here the sender uses his/her own 'filter of concept' to develop the message.
• Step-3: Transmit: After encoding the message sender takes initiative to transfer the message to reciever. Sender also select proper media for the transmission of message.
• Step-4: Recieve: Here receiver receiver the message which is transferred by the sender. If the receiver do not receive the message then the communication failed.
• Decode: To understand the received the message the receiver need to decode the message. Decoding is the process of 'explanation of the message' which produce the meaning of the message. This step is very important for the success of communication because understanding of the message completely depend on it.
• Step-6: Accept: After decoding, it depends on the receiver whether he/she will accept or select the message. Acceptance mainly depends on the credibility of the sender and attitude of the receiver.
• Step-7: Use: This step also controlled by the receiver. The receiver can use the message immediately or in future considering his/her interest.
• Step-8: Feedback: It is the last but perhaps the most important step for successful communication. In this step the receiver responds to the sender. The loop of communication infact completes with the response of the receiver, which is known as feedback.
Whether the message is accepted or not can be realised by the feedback of the receiver.
• These are the steps of the communication process. It should be mentioned that there are some barriers in the communication process which can disturb whole process.
Market Report
For Consumer Food Product Manufacturing Company
Dhaka, Bangladesh
[Country\Products | Pakistan | India | Nepal]
[Brcuits | 1000 Unit (Kg) | 5000 | 5000]
[Chocholate |
10000000/= |50000000 U | 1000000 U]
[Milky Candy | 5000000/= | 1000000 U | 50000 U | 500 U]
[Juice | 200000 /= | 5000000 U]
Signed by Vice-President
Marketing Company
Dhaka, Bangladesh.
Dhaka, Bangladesh
[Country\Products | Pakistan | India | Nepal]
[Brcuits | 1000 Unit (Kg) | 5000 | 5000]
[Chocholate |
10000000/= |50000000 U | 1000000 U]
[Milky Candy | 5000000/= | 1000000 U | 50000 U | 500 U]
[Juice | 200000 /= | 5000000 U]
Signed by Vice-President
Marketing Company
Dhaka, Bangladesh.
Using the Sum Function
Using the SUM Function
The SUM function in Excel is specifically designed to add values from different ranges. The SUM Function can be typed into a cell in Excel, or inserted via the Insert Function tool to the left of your Formula bar. The syntax of the SUM Function is SUM(number1,number2, ...). SUM is the function name, and contained within the brackets are "arguments", or the pieces of information that Excel requires to complete the Function. The SUM function allows from 1 to 30 arguments (number 1, number ....) for which you require the total value or SUM.
Using Ctrl to Mark Cells
If you wish to add cells that are non-contiguous (not joined together), type in your function =SUM( click in the first cell you wish to add. Hold down your Ctrl key and click in all other cells you wish to add up, then type in a ). Typing in a comma instead of selecting with your Ctrl key also works just as efficiently as well.
Using SUM to Add a Range from a Different Worksheet.
You can easily use SUM to add up the same range in different worksheets. Click in the cell you want the result of your addition in, then holding down the Shift key, click on the next worksheet that you wish to include in your calculation and highlight the range to be used, then click Enter.
One thing to note here however, is that if you insert a worksheet in the middle of the range that you have told the SUM function to add, then the same range on that worksheet will be included in your sum.
TIP! If you wish to force any new inserted worksheets to be included in the SUM range, try this. insert a blank worksheet at the beginning of your sheets in your workbook, and a blank sheet at the end. Now in the cell that you wish the result of your addition to appear in type in =SUM( and then click on the new first blank worksheet and highlight the range you require to be added in all worksheets.
Hold down your Shift key and click on the new last blank worksheet, then close your bracket ) and hit enter. Now hide the first sheet and the last sheet by going to Format>Sheet>Hide. This will force any new worksheets to be included in the SUM range as all new worksheets will be between the 2 blank ones.
The SUM function in Excel is specifically designed to add values from different ranges. The SUM Function can be typed into a cell in Excel, or inserted via the Insert Function tool to the left of your Formula bar. The syntax of the SUM Function is SUM(number1,number2, ...). SUM is the function name, and contained within the brackets are "arguments", or the pieces of information that Excel requires to complete the Function. The SUM function allows from 1 to 30 arguments (number 1, number ....) for which you require the total value or SUM.
Using Ctrl to Mark Cells
If you wish to add cells that are non-contiguous (not joined together), type in your function =SUM( click in the first cell you wish to add. Hold down your Ctrl key and click in all other cells you wish to add up, then type in a ). Typing in a comma instead of selecting with your Ctrl key also works just as efficiently as well.
Using SUM to Add a Range from a Different Worksheet.
You can easily use SUM to add up the same range in different worksheets. Click in the cell you want the result of your addition in, then holding down the Shift key, click on the next worksheet that you wish to include in your calculation and highlight the range to be used, then click Enter.
One thing to note here however, is that if you insert a worksheet in the middle of the range that you have told the SUM function to add, then the same range on that worksheet will be included in your sum.
TIP! If you wish to force any new inserted worksheets to be included in the SUM range, try this. insert a blank worksheet at the beginning of your sheets in your workbook, and a blank sheet at the end. Now in the cell that you wish the result of your addition to appear in type in =SUM( and then click on the new first blank worksheet and highlight the range you require to be added in all worksheets.
Hold down your Shift key and click on the new last blank worksheet, then close your bracket ) and hit enter. Now hide the first sheet and the last sheet by going to Format>Sheet>Hide. This will force any new worksheets to be included in the SUM range as all new worksheets will be between the 2 blank ones.
Friday, May 14, 2010
Features of MS-Excell
1. Microsoft Excel is a spreadsheet program that comes with Microsoft's Office software package. Excel is a commonly used program in finance due to its ability to provide digital data organization. Excel has a variety of basic features that make it useful, even for new users who do not know how to use its more advanced functions.
Storing Data
2. Perhaps the most useful basic feature of Excel is the ability to store and organize data. Organizing data in Excel is as simple as selecting a cell in a spreadsheet and typing in the value that you want to store. A single Excel spreadsheet can contain thousands of rows and columns, allowing you to store huge amounts of data in one place. A single Excel workbook can contain many worksheets; each worksheet is a separate spreadsheet. This allows you to store many different data tables within the same Excel file.
You can create simple data tables quickly, and you can move to different cells using the "Enter" and tab keys or the arrow keys on your keyboard, rather than using the mouse pointer. You can erase data by dragging a box around the desired cells and pressing on the "Delete" key, while you can copy data to different parts of a spreadsheet simply by selecting cells and using the copy and paste functions.
Charts and Graphs
3. Another basic feature of MS Excel is the ability to create customizable charts and graphs of data. Creating a basic chart or graph is relatively simple; you must select a range of cells in the table, choose to create a graph, and specify the graph type. Excel can produce many types of graphs, such as pie charts, bar charts and line charts. Graphs are especially useful for presentations, and you can copy your graphs into MS PowerPoint slides. Formatting
4. MS Excel allows for a wide range of formatting options similar to MS Word. You can alter font size, style and color, and you can highlight cells with different colors to differentiate data values. You can also increase or decrease the size and spacing of cells to fit the data.
Formulas
5. Excel offers you the ability to enter mathematical formulas into cells to carry out calculations on other cells. Formulas can be simple or complex, and one formula may even refer to a cell that contains a value calculated using a different formula, allowing for multiple levels of calculation. Excel also has several quick calculation tools, such as column averaging and totaling.
Storing Data
2. Perhaps the most useful basic feature of Excel is the ability to store and organize data. Organizing data in Excel is as simple as selecting a cell in a spreadsheet and typing in the value that you want to store. A single Excel spreadsheet can contain thousands of rows and columns, allowing you to store huge amounts of data in one place. A single Excel workbook can contain many worksheets; each worksheet is a separate spreadsheet. This allows you to store many different data tables within the same Excel file.
You can create simple data tables quickly, and you can move to different cells using the "Enter" and tab keys or the arrow keys on your keyboard, rather than using the mouse pointer. You can erase data by dragging a box around the desired cells and pressing on the "Delete" key, while you can copy data to different parts of a spreadsheet simply by selecting cells and using the copy and paste functions.
Charts and Graphs
3. Another basic feature of MS Excel is the ability to create customizable charts and graphs of data. Creating a basic chart or graph is relatively simple; you must select a range of cells in the table, choose to create a graph, and specify the graph type. Excel can produce many types of graphs, such as pie charts, bar charts and line charts. Graphs are especially useful for presentations, and you can copy your graphs into MS PowerPoint slides. Formatting
4. MS Excel allows for a wide range of formatting options similar to MS Word. You can alter font size, style and color, and you can highlight cells with different colors to differentiate data values. You can also increase or decrease the size and spacing of cells to fit the data.
Formulas
5. Excel offers you the ability to enter mathematical formulas into cells to carry out calculations on other cells. Formulas can be simple or complex, and one formula may even refer to a cell that contains a value calculated using a different formula, allowing for multiple levels of calculation. Excel also has several quick calculation tools, such as column averaging and totaling.
Monday, May 10, 2010
SOCIAL v BUSINESS COMMUNICATION
Points of Difference • Social Business
• Communication
DEFINITION
• Communication occured in a social setting is called social communication.
• Communication that takes place in a business world for organising and administering business is called business communication.
NATURE
• Social communication is relaxed, informal and often friendly.
• Business communication is more formal and organised.
SCOPE
• Social communication takes place in a setting. It starts from the very begining of your life. As soon as you are born, you start communicating with the parents and relations around you. Social communication continues till your death. At the end of employment life, it becomes inevitable and integral part of your rest of the life.
• Business communication on the other hand, takes place in a business environment. So its scope of operations is narrower than that of social communication.
PURPOSE
• It is usually concerned with pleasantries.
• Its main purpose is getting things done by the reciever.
APPROACH IN CHANNEL USE
• In social communication, certain channel e.g. a telephone line is used as an instruments for having a chat.
• But in business communication a telephone is a way to convey information quickly and perhaps cheaply.
CONTENT
• Social letters are full of personal news and are informal in languages and styles.
• Business letters contain only essential factual information and are much shorter.
USE OF SLANG AND GRAMMAR
• Social communication is unhurried. It uses slang and expressions understood on by small groups and it does not follow grammatical sentence structures.
• Business communication is carefully planned. It uses no slang and it should be grammatical in its construction.
RIGIDITY
• Social communication follows no rigid structure. Its expressions are quite spontaneous.
• Business communication follows a planned layout rigidly. Its expressions are also quite planned and composed according to clear objective.
• Communication
DEFINITION
• Communication occured in a social setting is called social communication.
• Communication that takes place in a business world for organising and administering business is called business communication.
NATURE
• Social communication is relaxed, informal and often friendly.
• Business communication is more formal and organised.
SCOPE
• Social communication takes place in a setting. It starts from the very begining of your life. As soon as you are born, you start communicating with the parents and relations around you. Social communication continues till your death. At the end of employment life, it becomes inevitable and integral part of your rest of the life.
• Business communication on the other hand, takes place in a business environment. So its scope of operations is narrower than that of social communication.
PURPOSE
• It is usually concerned with pleasantries.
• Its main purpose is getting things done by the reciever.
APPROACH IN CHANNEL USE
• In social communication, certain channel e.g. a telephone line is used as an instruments for having a chat.
• But in business communication a telephone is a way to convey information quickly and perhaps cheaply.
CONTENT
• Social letters are full of personal news and are informal in languages and styles.
• Business letters contain only essential factual information and are much shorter.
USE OF SLANG AND GRAMMAR
• Social communication is unhurried. It uses slang and expressions understood on by small groups and it does not follow grammatical sentence structures.
• Business communication is carefully planned. It uses no slang and it should be grammatical in its construction.
RIGIDITY
• Social communication follows no rigid structure. Its expressions are quite spontaneous.
• Business communication follows a planned layout rigidly. Its expressions are also quite planned and composed according to clear objective.
Reports, Business Report
Reports are one kind of managerial instruments which used to evaluate a situation. Even in the field of social science reports are basically prepared to explore the unknown and to provide guidelines for solving a problem.
The dictionary meaning of report is, it is a formal statement of the results of an investigation.
In the words of Dr. S. M. Aminuzzaman "report is a documet in which a given problem is examined for the purpose of conveying information, reporting findings, putting forward ideas, and sometimes making recommendations." Thus it can be stated that a report is a formal presentation of facts based on investigation which generally provides recommendations.
BUSINESS REPORTS:
Business reports are analytical vehicles which help managers to run the business smoothly. Business reports includes both findings and recommendations.
The basic objective of business report is to help the managers in making decisions.
In the words of Thill and Bovee, "when business people speak of reports, they are thinking of written, factual accounts that objectively communicate information about some aspects in business."
Prof. Ricks and Gow said, "a report is a written message presenting information that will help a decision maker to solve a business problem."
Therefore it can be revealed that business reports are management took which enables the management to solve problems and make effective decisions.
--------------------------------------------------------------
Ovi Mail: Making email access easy
http://mail.ovi.com
The dictionary meaning of report is, it is a formal statement of the results of an investigation.
In the words of Dr. S. M. Aminuzzaman "report is a documet in which a given problem is examined for the purpose of conveying information, reporting findings, putting forward ideas, and sometimes making recommendations." Thus it can be stated that a report is a formal presentation of facts based on investigation which generally provides recommendations.
BUSINESS REPORTS:
Business reports are analytical vehicles which help managers to run the business smoothly. Business reports includes both findings and recommendations.
The basic objective of business report is to help the managers in making decisions.
In the words of Thill and Bovee, "when business people speak of reports, they are thinking of written, factual accounts that objectively communicate information about some aspects in business."
Prof. Ricks and Gow said, "a report is a written message presenting information that will help a decision maker to solve a business problem."
Therefore it can be revealed that business reports are management took which enables the management to solve problems and make effective decisions.
--------------------------------------------------------------
Ovi Mail: Making email access easy
http://mail.ovi.com
Appointment, Joining Letters
• Appointment Letters
When a candidate is selected for an appointment, he/she is informed of this through a letter called an appointment letter. An appointment letter usually reflects the following points:
1. Words of congratulations.
2. The date and time of joining.
3. The name of the person to whom to report.
4. The nature of appointment i.e. probationary, permanent or temporary. If probationary, period of probation and if temporary, the expiry date of the temporary vacancy.
5. Salary and other benefits.
6. A request to the appointee to feedback acceptance.
7. Words of expectation that the appointee will have pleasant association with the employer.
• A Specimen of an Appointment Letter
February 14, 2010
We are pleased to inform you that you have been appointed to the post you applied for.
The appointment will in the first instance be on a temporary basis. It will be made permanent after the expiration of one year -in the light of your satisfactory job performance.
Your basic salary wjll be Tk. 9760.00 p.m. in the pay scale of Tk. 9500-200-
Tk. 12100.00. You are also entitled to a house rent allowance, medical allowance and other allowances applicable to you as per company's rules. We hope you would join immediately.
Please intimate us your
acceptance of our offer as early as possible and report for your duty in this office on or before 22 February, 20- at 10. 30 a.m. WSMook forward to our pleasant association with you.
Yours faithfully,
K.B.
Hossain Human Resource Director
• Joining Letters
After you have received the appointment letter, it is now your turn to inform the appointing authority of your decision as to accept or
reject the job. If you accept the offer of
appointment, convey the appointing authority the time and date of your joining.
When you join, do it by writing a letter (which carries the message that you are joining the office) to the authority concerned.
A joining letter covers the following
points:
1. A reference of an appointment letter.
2. A message that you are joining.
3. The position you are joining.
4. The time and date of joining.
5. A request to accept the joining.
• A Model Joining Letter
15 February, 2010
Subject: Joining as an Assistant Labour Relations
Manager
Dear Sir;
As per your appointment letter
No....... dated........... I am hereby joining the..............company
as an assistant Labour Relations Manager at 11 o' clock in the forenoon of the 1st day of July 20-. Would you please accept my joining.
Yours faithfully. M.A.
Zahid
Dear
Mr.....
In reply to your application dated 25 October,
20- for the post of an Assistant Labour
Relations Manager in our firm and subsequent interview on 10 November, 2010
When a candidate is selected for an appointment, he/she is informed of this through a letter called an appointment letter. An appointment letter usually reflects the following points:
1. Words of congratulations.
2. The date and time of joining.
3. The name of the person to whom to report.
4. The nature of appointment i.e. probationary, permanent or temporary. If probationary, period of probation and if temporary, the expiry date of the temporary vacancy.
5. Salary and other benefits.
6. A request to the appointee to feedback acceptance.
7. Words of expectation that the appointee will have pleasant association with the employer.
• A Specimen of an Appointment Letter
February 14, 2010
We are pleased to inform you that you have been appointed to the post you applied for.
The appointment will in the first instance be on a temporary basis. It will be made permanent after the expiration of one year -in the light of your satisfactory job performance.
Your basic salary wjll be Tk. 9760.00 p.m. in the pay scale of Tk. 9500-200-
Tk. 12100.00. You are also entitled to a house rent allowance, medical allowance and other allowances applicable to you as per company's rules. We hope you would join immediately.
Please intimate us your
acceptance of our offer as early as possible and report for your duty in this office on or before 22 February, 20- at 10. 30 a.m. WSMook forward to our pleasant association with you.
Yours faithfully,
K.B.
Hossain Human Resource Director
• Joining Letters
After you have received the appointment letter, it is now your turn to inform the appointing authority of your decision as to accept or
reject the job. If you accept the offer of
appointment, convey the appointing authority the time and date of your joining.
When you join, do it by writing a letter (which carries the message that you are joining the office) to the authority concerned.
A joining letter covers the following
points:
1. A reference of an appointment letter.
2. A message that you are joining.
3. The position you are joining.
4. The time and date of joining.
5. A request to accept the joining.
• A Model Joining Letter
15 February, 2010
Subject: Joining as an Assistant Labour Relations
Manager
Dear Sir;
As per your appointment letter
No....... dated........... I am hereby joining the..............company
as an assistant Labour Relations Manager at 11 o' clock in the forenoon of the 1st day of July 20-. Would you please accept my joining.
Yours faithfully. M.A.
Zahid
Dear
Mr.....
In reply to your application dated 25 October,
20- for the post of an Assistant Labour
Relations Manager in our firm and subsequent interview on 10 November, 2010
Friday, May 7, 2010
FormalvInformal Communication, Grapevine
Comparison between a Formal Communication System and an
Informal Communication System
The figure 6.1 presents a comparison
between a formal communication system and an
informal communication system.
Figure 6.1 : A Comparison of the Formal and Informal
Communication
System.
F
G
H
I
J
K
i
i
Indicates formal communication Indicates
informal communication
How the Grapevine
Operates (The grapevine pattern)
The
grapevine operates in different ways. Keith Davis who has extensive research work on the nature of
grapevine in organisations has classified it into the following four possible
types:
1.
Single Strand. The single strand involves
a long line of persons passing throughwhich information reaches the final receiver. For example, in this
chain, person A(Figure 6.2) tells something to person B, who tells it to
C, who tells D and so on downthe line, till the information has reached most of the
persons concerned. This chain islikely to be used to the transmission of information which
is confidential. But the chainis the least accurate at passing on information.
2.
Gossip. In the gossip chain, one person seeks
out and tells everyone the information.This chain is just like a wheel where the sender is at the
centre and the informationmom the sender at the centre passes along the spokes of the
wheel to other persons whoare stationed on the rim. Normally information of an
interesting but non-job-relatednature flows along these 'vines'.
3. Probability. The probability chain is a random
process in which individuals areindifferent about the receivers of the message; the
communicators tell people at random andthe people
receiving the message in turn, send this to others at random. This chain isgenerally used to transmit the information
which is mildly interesting but insignificant.
123
Formal Informal Communication
4. Cluster. Each
link in this chain tends to inform a cluster of other people instead of one person
only. Suppose, an employee A tells one selected person who in turn, relays the
information to selected others. In this way, as the information becomes older
and the proportion of the persons knowing the message gets larger,
the process gradually dies out and at this stage, the receivers do
not repeat the transmission. This network is called cluster chain.
Keith Davis considers the cluster chain to be the dominant grapevine pattern in
an organisatioa He thinks that only a few individuals called "liaison
individuals" pass on the information to people they trust or
from whom they would like favours. Information that is interesting as well as
job related usually flows through this channel.
Figure 6.2 : Types
of Grapevine Chains
A
B
C
D
E
Gossip (One tells all)
Probability (Each randomly tells
others)
Cluster
(Some
tell selected others)
Single Strand (Each person
receiving the message tells other)
Informal Communication System
The figure 6.1 presents a comparison
between a formal communication system and an
informal communication system.
Figure 6.1 : A Comparison of the Formal and Informal
Communication
System.
F
G
H
I
J
K
i
i
Indicates formal communication Indicates
informal communication
How the Grapevine
Operates (The grapevine pattern)
The
grapevine operates in different ways. Keith Davis who has extensive research work on the nature of
grapevine in organisations has classified it into the following four possible
types:
1.
Single Strand. The single strand involves
a long line of persons passing throughwhich information reaches the final receiver. For example, in this
chain, person A(Figure 6.2) tells something to person B, who tells it to
C, who tells D and so on downthe line, till the information has reached most of the
persons concerned. This chain islikely to be used to the transmission of information which
is confidential. But the chainis the least accurate at passing on information.
2.
Gossip. In the gossip chain, one person seeks
out and tells everyone the information.This chain is just like a wheel where the sender is at the
centre and the informationmom the sender at the centre passes along the spokes of the
wheel to other persons whoare stationed on the rim. Normally information of an
interesting but non-job-relatednature flows along these 'vines'.
3. Probability. The probability chain is a random
process in which individuals areindifferent about the receivers of the message; the
communicators tell people at random andthe people
receiving the message in turn, send this to others at random. This chain isgenerally used to transmit the information
which is mildly interesting but insignificant.
123
Formal Informal Communication
4. Cluster. Each
link in this chain tends to inform a cluster of other people instead of one person
only. Suppose, an employee A tells one selected person who in turn, relays the
information to selected others. In this way, as the information becomes older
and the proportion of the persons knowing the message gets larger,
the process gradually dies out and at this stage, the receivers do
not repeat the transmission. This network is called cluster chain.
Keith Davis considers the cluster chain to be the dominant grapevine pattern in
an organisatioa He thinks that only a few individuals called "liaison
individuals" pass on the information to people they trust or
from whom they would like favours. Information that is interesting as well as
job related usually flows through this channel.
Figure 6.2 : Types
of Grapevine Chains
A
B
C
D
E
Gossip (One tells all)
Probability (Each randomly tells
others)
Cluster
(Some
tell selected others)
Single Strand (Each person
receiving the message tells other)
Thursday, May 6, 2010
Solution of 3Hs in Market, Command&Mixed
• The solution of three "Hs" in Market, Command and Mixed Economy:
• Capitalist Economy/Market Economy: The first method is to solve these problems through market or price mechanism. That is, what goods are to be produced and what quantities, which methods for production are to be employeed for the productivity of goods and how the output is to be distributed, should be decided by the free play of the forces of demand and supply. In such an economic system, capital and other means of production are the private property of the individual and private enterpreneurs who undertake the work of production. Consumers have freedom to buy the goods they want. In such a system, those goods are produced mere for which there is greater demand and those goods are produced less for which there is less demand. The demand and supply of various goods determine the prices and quantities produced of various goods. This method of solving these capital problems through market mechanism is used by a free-enterprise capitalist economy.
• Command Economy: In this method, t'd solvition of upshots basic problems is not achieved through the free working of demand and supply of goods and factors. But to solve these problems which has been called by several names, such as planning commission, planning ministry or planning board.
What goods to be produced, and what quantities and how they be produced, how should they be distributed among the population and how much should be invested to bring about economic growth are all decide by the central planning authority. These type of solutions had been adopted by former communist countries such as Soviet Russia, Cuba, Poland, China, etc.
• Mixed Economy: The government interferes in in the working of the capitalist economy through several policy instruments because it has now been realised that the unfettered functioning of the market mechanism or the forces of demand and supply, results in wide economic fluctuation price instability and unemployment and lack of economic growth. In other words, with the free working or the market mechanism or the forces of demand and supply, the achievement of the objectives of economic stability, full employment and rapid economic growth is not possible. During 1929-33, when all the capitalist countries, there occured a great depression which resulted in wide spread unemployment among the population them famous economist John Maynard Keynes laid on the adoption of appropriate fiscal and monetary policy so as to achieve the objective of full employment. Therefore, economist call these so-called capitalist countries as mixed capitalist enterprise system or simply mixed economy. It is worth noting here that the nature of the mixed economy of Bangladesh is different from that as the mixed economics of America and England. In Bangladesh, Government not only regulates and controls the private enterprise and market mechanism through the monetary and fiscal measures and direct controls but also itself undertake the work of production. Various industries and power production have been set up in the public sector.
• Capitalist Economy/Market Economy: The first method is to solve these problems through market or price mechanism. That is, what goods are to be produced and what quantities, which methods for production are to be employeed for the productivity of goods and how the output is to be distributed, should be decided by the free play of the forces of demand and supply. In such an economic system, capital and other means of production are the private property of the individual and private enterpreneurs who undertake the work of production. Consumers have freedom to buy the goods they want. In such a system, those goods are produced mere for which there is greater demand and those goods are produced less for which there is less demand. The demand and supply of various goods determine the prices and quantities produced of various goods. This method of solving these capital problems through market mechanism is used by a free-enterprise capitalist economy.
• Command Economy: In this method, t'd solvition of upshots basic problems is not achieved through the free working of demand and supply of goods and factors. But to solve these problems which has been called by several names, such as planning commission, planning ministry or planning board.
What goods to be produced, and what quantities and how they be produced, how should they be distributed among the population and how much should be invested to bring about economic growth are all decide by the central planning authority. These type of solutions had been adopted by former communist countries such as Soviet Russia, Cuba, Poland, China, etc.
• Mixed Economy: The government interferes in in the working of the capitalist economy through several policy instruments because it has now been realised that the unfettered functioning of the market mechanism or the forces of demand and supply, results in wide economic fluctuation price instability and unemployment and lack of economic growth. In other words, with the free working or the market mechanism or the forces of demand and supply, the achievement of the objectives of economic stability, full employment and rapid economic growth is not possible. During 1929-33, when all the capitalist countries, there occured a great depression which resulted in wide spread unemployment among the population them famous economist John Maynard Keynes laid on the adoption of appropriate fiscal and monetary policy so as to achieve the objective of full employment. Therefore, economist call these so-called capitalist countries as mixed capitalist enterprise system or simply mixed economy. It is worth noting here that the nature of the mixed economy of Bangladesh is different from that as the mixed economics of America and England. In Bangladesh, Government not only regulates and controls the private enterprise and market mechanism through the monetary and fiscal measures and direct controls but also itself undertake the work of production. Various industries and power production have been set up in the public sector.
ROBBINS' DEFINITION:
ECONOMICS IS A SCIENCE OF SCARCITY
• Robbins not only criticised Marshall's definition and other welfare definitions of economics but also provided a new definition which if considered to be more scientific and correct. If has given this definition in his famous book, "An Essay on the Nature and Significance of Economic Science," which he brought out in 1931. (According to Robbins, economics studies the problems which have arisen because of the scarcity of resources. Nature has not provided mankind sufficient resources to satisfy all its wants. Therefore, the people have to choose for which ends or for which wants the resources are to be utilised. Thus, according to Robbins, economics is the science of scarcity and it studied how the scarce resources are allocated among their different uses.) Thus he has given the following definition: "Economics is the science which studied human behaviour as a relationship between ends and scarce means which have alternative uses." This definition is based upon the following three facts:
• Unlimited wants: The first fact on which Robbins' definition is based is that man's wants are unlimited. In his definition 'ends' implies wants and for statisew wants the man uses resources. That man's wants are unlimited is a very important and fundamental fact of economic life of the people. If man's wants were limited, then no economic problem would have arisen.
• Scarce means: The second element which gives rise to economic problem is that resources are scarce in relation to wants. If the resources like wants were unlimited, no economic problem would have arisen because in that case all wants could have been satisfied and there would have been no problem of choosing between the wants and allocating the resources between them. Because the resources are scarce, all wants cannot be satisfied. Therefore, human beings have to decide for the satisfaction of which wants the resources should be used and which wants should be left unfulfilled.
• Alternative use of means: The third fact on which Robbins' definition is based is that resources or means have various alternative uses. In other words, the resources can be put to various uses. For instance, coal can be used as a fuel for the production of industrial goods, it can be used for running trains, it can be used for domestic cooking purposes and for so many other purpose.
• We thus see that Robbin's definition stands on the above-mentioned three facts, namely, unlimited wants, scarce resources and alternative uses of the resources. According to him, economics studies human behaviour regarding how the satisfies his wants with the scarce resources. According to him, economics is a human science and not a mere social science.
• Robbins not only criticised Marshall's definition and other welfare definitions of economics but also provided a new definition which if considered to be more scientific and correct. If has given this definition in his famous book, "An Essay on the Nature and Significance of Economic Science," which he brought out in 1931. (According to Robbins, economics studies the problems which have arisen because of the scarcity of resources. Nature has not provided mankind sufficient resources to satisfy all its wants. Therefore, the people have to choose for which ends or for which wants the resources are to be utilised. Thus, according to Robbins, economics is the science of scarcity and it studied how the scarce resources are allocated among their different uses.) Thus he has given the following definition: "Economics is the science which studied human behaviour as a relationship between ends and scarce means which have alternative uses." This definition is based upon the following three facts:
• Unlimited wants: The first fact on which Robbins' definition is based is that man's wants are unlimited. In his definition 'ends' implies wants and for statisew wants the man uses resources. That man's wants are unlimited is a very important and fundamental fact of economic life of the people. If man's wants were limited, then no economic problem would have arisen.
• Scarce means: The second element which gives rise to economic problem is that resources are scarce in relation to wants. If the resources like wants were unlimited, no economic problem would have arisen because in that case all wants could have been satisfied and there would have been no problem of choosing between the wants and allocating the resources between them. Because the resources are scarce, all wants cannot be satisfied. Therefore, human beings have to decide for the satisfaction of which wants the resources should be used and which wants should be left unfulfilled.
• Alternative use of means: The third fact on which Robbins' definition is based is that resources or means have various alternative uses. In other words, the resources can be put to various uses. For instance, coal can be used as a fuel for the production of industrial goods, it can be used for running trains, it can be used for domestic cooking purposes and for so many other purpose.
• We thus see that Robbin's definition stands on the above-mentioned three facts, namely, unlimited wants, scarce resources and alternative uses of the resources. According to him, economics studies human behaviour regarding how the satisfies his wants with the scarce resources. According to him, economics is a human science and not a mere social science.
Microeconomics
• Microeconomics comes from Greek word Mikros meaning small. It deals with separate separate segments of economics. K. E. Boulding defines as "Microeconomics is the study of particular firms, particular household, individual prices, wages, income, individual industries, particular commodities."
Thus, microeconomics theory seeks to determine the mechanism by which the different economic units individual attain the position of equilibrium, proceeing from the individual units to a narrowly defined group.
• Microeconomics (from Greek prefix micro- meaning "small" +"economics") is a branch of economics that studies how the individual parts of the economy, the household and the firms, make decisions to allocate limited resources, typically in markets
where goods or services are being bought and sold.
Microeconomics examines how these decisions and behaviours
affect the supply and demand for goods and services, which
determines prices; and how prices, in turn, determine the supply and demand of goods
and services.
• Subject Matter of Microeconomics: Subject matters of microeconomics are clearly found from above mentioned definition. It deals with the economic actions and behaviour or individual units and small group of individual units. In other words, in microeconomics we make a microscopic stew of the economy.
Microeconomics discuss equilibrium of innumerable units of the economy piece meal and their inter-relationship to each other.
Microeconomics theory rudies the behaviour of individual firms in regard to the fixation of price and output and their reactions to the changes in the demand and supply conditions.
Efficiency in production, efficiency in distribution of goods among people and allocative efficiency.
These ante mentioned items mainly covered the subject matter of microeconomics.
Following Varialer Ones of Microeconomics:
Price of Rice
Revenue of a firm
Met invested of a firm
Thus, microeconomics theory seeks to determine the mechanism by which the different economic units individual attain the position of equilibrium, proceeing from the individual units to a narrowly defined group.
• Microeconomics (from Greek prefix micro- meaning "small" +"economics") is a branch of economics that studies how the individual parts of the economy, the household and the firms, make decisions to allocate limited resources, typically in markets
where goods or services are being bought and sold.
Microeconomics examines how these decisions and behaviours
affect the supply and demand for goods and services, which
determines prices; and how prices, in turn, determine the supply and demand of goods
and services.
• Subject Matter of Microeconomics: Subject matters of microeconomics are clearly found from above mentioned definition. It deals with the economic actions and behaviour or individual units and small group of individual units. In other words, in microeconomics we make a microscopic stew of the economy.
Microeconomics discuss equilibrium of innumerable units of the economy piece meal and their inter-relationship to each other.
Microeconomics theory rudies the behaviour of individual firms in regard to the fixation of price and output and their reactions to the changes in the demand and supply conditions.
Efficiency in production, efficiency in distribution of goods among people and allocative efficiency.
These ante mentioned items mainly covered the subject matter of microeconomics.
Following Varialer Ones of Microeconomics:
Price of Rice
Revenue of a firm
Met invested of a firm
Economics
Generally, Economics is the study of how societies use scarce resources to produce commodities and distribute them among different people.
Economics is the social science that studies the production, distribution and consumption of goods and services.
• Marshall's Definition
Political Economy or Economy is the study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisite of well-being.
• ROBBINS' DEFINITION:
Economics is the science which studies human behavior as a relationship between ends and scarce means which have alternative uses.
Economics is the social science that studies the production, distribution and consumption of goods and services.
• Marshall's Definition
Political Economy or Economy is the study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisite of well-being.
• ROBBINS' DEFINITION:
Economics is the science which studies human behavior as a relationship between ends and scarce means which have alternative uses.
Friday, April 23, 2010
Managing Sales Force
We know that sales force management is the analysis, planning, implementation and control of sales force activities. To manage the sales force, it has some steps. These are as follows:
• Designing sales force strategy and structure
• Recruiting and selecting sales people
• Training sales people
• Compensating sales people
• Supervising sales people
• Evaluating sales people
These steps are as follows:
• Designig sales force strategy and structure: Marketing managers face several sales force strategy and design question. How should sales people and their tasks be structured? How big should be sales force be? Should sales people sell alone or work in teams with other people in the company? On the basis of above Questions Company design the sales force strategy and structure. Sales force structure is influenced by sales force strategy. The decision is simple if the company sells only one product line to one industry with customers in many locations. In that case the company would use a territorial sales force structure.
• Recruiting and selecting sales people: At the heart of any successful sales force operation is the recruitment and selection of good sales people. For this reason company select the experienced and experts sales force. Company can select the sales force from the internal source or external source of the company.
• Training sales people: Many companies used to send their new sales people into the field almost immediately after hiring them. They would be given samples, order books and general institutions. Although trainings can be expensive, it can also yield dramatic returns on the training investment training program have several goals, sales people need to know and identify with the company. So most training program begin by describing the company's history and objectives its organization, its financial structure and facilities and its chief products and markets.
• Compensating sales people: To attract the sales people company offers attractive package to the sales force. The success of the company depends on the operation of sales people. Again the performance of sales people depends on the quality of sales depends on the attractiveness of the package. So, company should offer huge compensation to the sales people.
• Supervising sales people: Now sales people need more than a territory, compensation and training. They need supervision. Through the supervision the company directs and motivates the sales force to do a better job.
• Evaluating sales people: It is the last step in the sale force management. In this step to evaluate the sales people require good feedback. Good feedback means getting regular information about sales people to evaluate their performance. Management get information about its sales people in several ways. The most important source 's sales reports. The sales manager might begin with a quantitative evaluation, looking at a sales person's knowledge of the company, products, customers, competitor's territory and task.
• Designing sales force strategy and structure
• Recruiting and selecting sales people
• Training sales people
• Compensating sales people
• Supervising sales people
• Evaluating sales people
These steps are as follows:
• Designig sales force strategy and structure: Marketing managers face several sales force strategy and design question. How should sales people and their tasks be structured? How big should be sales force be? Should sales people sell alone or work in teams with other people in the company? On the basis of above Questions Company design the sales force strategy and structure. Sales force structure is influenced by sales force strategy. The decision is simple if the company sells only one product line to one industry with customers in many locations. In that case the company would use a territorial sales force structure.
• Recruiting and selecting sales people: At the heart of any successful sales force operation is the recruitment and selection of good sales people. For this reason company select the experienced and experts sales force. Company can select the sales force from the internal source or external source of the company.
• Training sales people: Many companies used to send their new sales people into the field almost immediately after hiring them. They would be given samples, order books and general institutions. Although trainings can be expensive, it can also yield dramatic returns on the training investment training program have several goals, sales people need to know and identify with the company. So most training program begin by describing the company's history and objectives its organization, its financial structure and facilities and its chief products and markets.
• Compensating sales people: To attract the sales people company offers attractive package to the sales force. The success of the company depends on the operation of sales people. Again the performance of sales people depends on the quality of sales depends on the attractiveness of the package. So, company should offer huge compensation to the sales people.
• Supervising sales people: Now sales people need more than a territory, compensation and training. They need supervision. Through the supervision the company directs and motivates the sales force to do a better job.
• Evaluating sales people: It is the last step in the sale force management. In this step to evaluate the sales people require good feedback. Good feedback means getting regular information about sales people to evaluate their performance. Management get information about its sales people in several ways. The most important source 's sales reports. The sales manager might begin with a quantitative evaluation, looking at a sales person's knowledge of the company, products, customers, competitor's territory and task.
Major Sales Promotion Tools
Sales promotion is a short term incentives to encourage the purchase or sale of a product or services. Many tools can be used to accomplish sales promotion objectives. We can describe the sales promotion tools in below ways:
• Consumer promotion tools
• Trade promotion tools
• Business promotion tools
They are summarized in below:
• Consumer promoting tools: The main consumer promotion tools include
a. Sample: A small amount of a product offered to consumer for trail.
b. Coupons: Certificate that gives buyers a saving when purchase a specific product.
c. Cash refunds (rebate): Offer to refund part of the purchase price of a product to consumers who send a proof of purchase to the manufacturer.
d. Price packets: Reduced price that is marked by the producer directly on the local or package.
e. Premium: Good offered either free or at low cost an incentive to buy a product.
f. Advertising specialist: Useful article imprinted with an advertiser's name, given as gift to consumer.
g. Patronage rewards: Cash or other reward for the regular use of a certain company's products or service.
h. Point of purchase displays and demonstration etc: Display and demonstrations that takes place at the point of purchase or sale.
• Trade promotion tools: Trade promotion are as follow:
a. Discount: A straight reduction in price on purchase during a stated period of time.
b. Allowance: Promotional money paid by manufactures to retailers in return for an agreement to feature the manufacturer's product in some way.
• Business promotion tools: Companies spend huge amount each year on promotion to industrial customers. These business promotions are used to generate business leads, stimulate purchase reward customers and motivate people. Business promotion includes many of the same tools used for consumer or trade promotion.
• Consumer promotion tools
• Trade promotion tools
• Business promotion tools
They are summarized in below:
• Consumer promoting tools: The main consumer promotion tools include
a. Sample: A small amount of a product offered to consumer for trail.
b. Coupons: Certificate that gives buyers a saving when purchase a specific product.
c. Cash refunds (rebate): Offer to refund part of the purchase price of a product to consumers who send a proof of purchase to the manufacturer.
d. Price packets: Reduced price that is marked by the producer directly on the local or package.
e. Premium: Good offered either free or at low cost an incentive to buy a product.
f. Advertising specialist: Useful article imprinted with an advertiser's name, given as gift to consumer.
g. Patronage rewards: Cash or other reward for the regular use of a certain company's products or service.
h. Point of purchase displays and demonstration etc: Display and demonstrations that takes place at the point of purchase or sale.
• Trade promotion tools: Trade promotion are as follow:
a. Discount: A straight reduction in price on purchase during a stated period of time.
b. Allowance: Promotional money paid by manufactures to retailers in return for an agreement to feature the manufacturer's product in some way.
• Business promotion tools: Companies spend huge amount each year on promotion to industrial customers. These business promotions are used to generate business leads, stimulate purchase reward customers and motivate people. Business promotion includes many of the same tools used for consumer or trade promotion.
Public Relations,Major Tools,Personal Se
• THE ROLE OF THE SALE FORCE: Personal selling is the interpersonal arm of the promotion mix. Advertising consists of one-way non personal communication with target consumer group. In contrast, resonal selling involves two way personal communication between sales people and individual customer. Whether face to face by telephone, through video conferences or by other means personal selling can be more effective than advertising in more complex selling situations. Sales people can probe customers to learn more about their problems. They can adjust the marketing offer to fit the special needs of each customer and can negotiate terms of sale. They can build long term personal relationship with key decision makers.
• PERSONAL SELLING: Personal selling is an individual acting for a company by performing one or more of the following activities, prospecting, communicating, servicing and information gathering.
Personal selling means directly sale the product to the customer.
• MAJOR TOOLS OF PUBLIC RELATIONS:
• Sponsorship: Company participates in car racing, sports, cricket, boat racing or any other publication.
• Trade show: Trade show represents a great opportunity to build brand awareness, knowledge and interest.
• Club and consumer communicate: Company many arrange to build any club where consumer can enjoy and communicate with each other.
• Societal cost marketing: Company may spend money for any social welfare activities.
• Social development: Company may involve in the social development activities such as they may prepare hospital, bridge, culvert, barriers, etc.
• PUBLIC RELATIONS: Another major mass promotion tool is public relations. It makes good relations with the company's various publics by obtaining favorable publicity, building or heading off unfavorable rumors, stories and events.
Public relation departments may perform any or all of the following functions.
• Press relations
• Product publicity
• Public affairs
• Lobbying
• Counseling
• PERSONAL SELLING: Personal selling is an individual acting for a company by performing one or more of the following activities, prospecting, communicating, servicing and information gathering.
Personal selling means directly sale the product to the customer.
• MAJOR TOOLS OF PUBLIC RELATIONS:
• Sponsorship: Company participates in car racing, sports, cricket, boat racing or any other publication.
• Trade show: Trade show represents a great opportunity to build brand awareness, knowledge and interest.
• Club and consumer communicate: Company many arrange to build any club where consumer can enjoy and communicate with each other.
• Societal cost marketing: Company may spend money for any social welfare activities.
• Social development: Company may involve in the social development activities such as they may prepare hospital, bridge, culvert, barriers, etc.
• PUBLIC RELATIONS: Another major mass promotion tool is public relations. It makes good relations with the company's various publics by obtaining favorable publicity, building or heading off unfavorable rumors, stories and events.
Public relation departments may perform any or all of the following functions.
• Press relations
• Product publicity
• Public affairs
• Lobbying
• Counseling
Thursday, April 22, 2010
Selecting Advertising Media
It has some steps in selecting advertising media. The major steps in media selection are
• Deciding on reach, frequency and impact
• Choosing among media types
• Selecting specific media vehicles
• Defieing on media timing
They are summarized in below:
• Deciding on reach, frequency and impact: To select media, the advertiser must decide what reach and frequency are needed to achieve advertising objectives. It is a measure of percentage of people in the target market who are exposed to the advertising campaign during a given period of time. Frequency is a measure of how many times the first three months of the campaign.
• Chopping among major media types: The media planner has to know the reach frequency and impact of the major media types, the major media types are newspapers, television, direct mail, radio, magazines, outdoor and the internet. Each media has advantages and limitations media planners consider many factors when their media choices.
• Selecting specific media vehicles: The media planner must decide the best media vehicles. Media planners must compute the cost per thousand persons reached by a vehicle.
• Deciding on media timing: The advertiser must decide how to schedule the advertising over the course of a year. The firm can vary its advertising to follow the seasonal pattern to oppose the seasonal pattern or to be small all year.
• Deciding on reach, frequency and impact
• Choosing among media types
• Selecting specific media vehicles
• Defieing on media timing
They are summarized in below:
• Deciding on reach, frequency and impact: To select media, the advertiser must decide what reach and frequency are needed to achieve advertising objectives. It is a measure of percentage of people in the target market who are exposed to the advertising campaign during a given period of time. Frequency is a measure of how many times the first three months of the campaign.
• Chopping among major media types: The media planner has to know the reach frequency and impact of the major media types, the major media types are newspapers, television, direct mail, radio, magazines, outdoor and the internet. Each media has advantages and limitations media planners consider many factors when their media choices.
• Selecting specific media vehicles: The media planner must decide the best media vehicles. Media planners must compute the cost per thousand persons reached by a vehicle.
• Deciding on media timing: The advertiser must decide how to schedule the advertising over the course of a year. The firm can vary its advertising to follow the seasonal pattern to oppose the seasonal pattern or to be small all year.
Advertising, Major Advertising Decision
ADVERTISING: Advertising is any paid form of non personal presentation and promotion of ideas, goods or services by an identified sponsor.
MAJOR ADVERTISING DECISION:
Marketing management must make four important decisions when developing an advertising program these four important are as follows:
• Setting advertising objectives
• Setting advertising budget
• Developing advertising strategy
• Evaluating advertising campaign
They are summarized in below:
• Setting advertising objectives: The first step is to set advertising objectives. These objectives should be based on past decisions about target market, positioning and marketing mix, which define the job that advertising must do in the total marketing program advertising is a specific communication task to be accomplished with a specific target during a specific period of time. Advertising objectives can be classified by primary purpose-where the aim is to inform persuade or remind.
• Setting advertising budget: After determining its advertising objectives the company next sets its advertising budget for each product. A brand's advertising budget depends on its stages of product life cycle. Market share also impacts the amount advertising needed. Because building the market or taking share from competitors requires larger advertising spending than does simply maintaining current share, high share brands usually needs more advertising spending as a percentage of sales.
• Developing advertising strategy: Advertising strategy consists of two major elements.
a. Creating advertising message
b. Selecting advertising media
In the past companies often themed media planning as secondary to the message, creation process. These creative departments first created good advertisement then the media department selected first created good advertisement then the media department selected the best media for carrying these advertisements to desired target audience.
• Evaluating advertising campaign: It is the last step in major decision of advertising. In this stage evaluate the message of advertising. How much people get attention on the message of advertising. Its market covering capacity, style, tone, words and format etc are evaluated in this stage.
MAJOR ADVERTISING DECISION:
Marketing management must make four important decisions when developing an advertising program these four important are as follows:
• Setting advertising objectives
• Setting advertising budget
• Developing advertising strategy
• Evaluating advertising campaign
They are summarized in below:
• Setting advertising objectives: The first step is to set advertising objectives. These objectives should be based on past decisions about target market, positioning and marketing mix, which define the job that advertising must do in the total marketing program advertising is a specific communication task to be accomplished with a specific target during a specific period of time. Advertising objectives can be classified by primary purpose-where the aim is to inform persuade or remind.
• Setting advertising budget: After determining its advertising objectives the company next sets its advertising budget for each product. A brand's advertising budget depends on its stages of product life cycle. Market share also impacts the amount advertising needed. Because building the market or taking share from competitors requires larger advertising spending than does simply maintaining current share, high share brands usually needs more advertising spending as a percentage of sales.
• Developing advertising strategy: Advertising strategy consists of two major elements.
a. Creating advertising message
b. Selecting advertising media
In the past companies often themed media planning as secondary to the message, creation process. These creative departments first created good advertisement then the media department selected first created good advertisement then the media department selected the best media for carrying these advertisements to desired target audience.
• Evaluating advertising campaign: It is the last step in major decision of advertising. In this stage evaluate the message of advertising. How much people get attention on the message of advertising. Its market covering capacity, style, tone, words and format etc are evaluated in this stage.
Promotion
Promotion mix (Communication Mix): Promotio mix consist of the specific mix of advertising, personal selling, sales promotion, public relations and direct marketing tools a company uses to pursue its advertising and marketing objectives.
That means, the promotio mix has five distinctive tools, these are advertising, personal selling, sales promotion, public relations and direct marketing. They are summarized in below:
• Advertising: Advertising is any paid form of non-personal presentation and promotion of ideas, goods and services by an identified sponsor.
• Personaling selling: Personal selling is the personal presentation by the firm's force for the purpose of making sales and building customer relationships.
• Sales promotion: Sales promotion is a short term incentives to encourage the purchase or sale of a product or service.
• Public relations: Public relations is building good relations with the company's various publics by obtaining favorable publicity, building up a good corporate image and handling or heading off unfavorable quotmss, stoppi and events.
• Direct marketing: Direct marketing is direct communications with carefully targeted individual consumers to obtain an immediate response and cultivate lasting customer relationships through the use of telephone, mail, fax, e-mail, the internet, and other tools to communicate directly with specific customers.
INTEGRATED MARKETING COMMUNICATION
Integrated Marketing Communication (IMC): Integrated Marketing Communication is the concept under which a company carefully integrates and coordinates its many communication channels to deliver a clear, consistent and compelling message about the organization and its product. In another way, integrated marketing communications involves identifying the target audience and shaping a well coordinated promotional program to obtain the desired audience response too often marketing communications focus an immediate awareness, image, or preference goals in the target market. We can show the integrated marketing communication through the below figure:
Advertising ~ Personal Selling
Sales Promotion ~ Public Relations-~Consistent, clear and compelling company and product message
^Direct Marketing^
Figure: Integrated Marketing Communication (IMC)
COMMUNICATION SYSTEM
To communicate effectively, marketers need to understand how communication works. Communication involves the nine element shown in the below figure:
Sender > Encoding > Message* > Decoding > Receiver
^|Feedback < Response <___|
Sender Field of Experience * = (Media
Noise) Reciever Field of Experience
There are nine elements in the above figure and two of those elements are the major parties in a communication, the sender and the reciever. Another two are the major communication tools-the message and the media. Four are major communication functions-encoding, response and feedback. The last element is noise in the system. The definition of these elements is as follows:
• Sender: The party sending the message to another party.
• Encoding: The process of putting thought into symbolic form.
• Message: The set of symbols that the sender transmits.
• Media: The communication channels through which the message moves from sender to reciever.
• Decoding: The process by which the receiver assigns meaning to the symbols encoded by the sender.
• Receiver: The party receiving the message sent by another party.
• Feedback: The part of the receiver's response communicated back the sender.
• Noise: The unplanned static or distortion during the communication process, which results in the receiver's getting a different message than the one the sender sent.
STEPS IN DEVELOPING EFFECTIVE COMMUNICATION
• Identify the target audience
• Determine the communication objective
• Design a message
• Choose the media through which to send the message
• Select the message source and
• Collect feedback
That means, the promotio mix has five distinctive tools, these are advertising, personal selling, sales promotion, public relations and direct marketing. They are summarized in below:
• Advertising: Advertising is any paid form of non-personal presentation and promotion of ideas, goods and services by an identified sponsor.
• Personaling selling: Personal selling is the personal presentation by the firm's force for the purpose of making sales and building customer relationships.
• Sales promotion: Sales promotion is a short term incentives to encourage the purchase or sale of a product or service.
• Public relations: Public relations is building good relations with the company's various publics by obtaining favorable publicity, building up a good corporate image and handling or heading off unfavorable quotmss, stoppi and events.
• Direct marketing: Direct marketing is direct communications with carefully targeted individual consumers to obtain an immediate response and cultivate lasting customer relationships through the use of telephone, mail, fax, e-mail, the internet, and other tools to communicate directly with specific customers.
INTEGRATED MARKETING COMMUNICATION
Integrated Marketing Communication (IMC): Integrated Marketing Communication is the concept under which a company carefully integrates and coordinates its many communication channels to deliver a clear, consistent and compelling message about the organization and its product. In another way, integrated marketing communications involves identifying the target audience and shaping a well coordinated promotional program to obtain the desired audience response too often marketing communications focus an immediate awareness, image, or preference goals in the target market. We can show the integrated marketing communication through the below figure:
Advertising ~ Personal Selling
Sales Promotion ~ Public Relations-~Consistent, clear and compelling company and product message
^Direct Marketing^
Figure: Integrated Marketing Communication (IMC)
COMMUNICATION SYSTEM
To communicate effectively, marketers need to understand how communication works. Communication involves the nine element shown in the below figure:
Sender > Encoding > Message* > Decoding > Receiver
^|Feedback < Response <___|
Sender Field of Experience * = (Media
Noise) Reciever Field of Experience
There are nine elements in the above figure and two of those elements are the major parties in a communication, the sender and the reciever. Another two are the major communication tools-the message and the media. Four are major communication functions-encoding, response and feedback. The last element is noise in the system. The definition of these elements is as follows:
• Sender: The party sending the message to another party.
• Encoding: The process of putting thought into symbolic form.
• Message: The set of symbols that the sender transmits.
• Media: The communication channels through which the message moves from sender to reciever.
• Decoding: The process by which the receiver assigns meaning to the symbols encoded by the sender.
• Receiver: The party receiving the message sent by another party.
• Feedback: The part of the receiver's response communicated back the sender.
• Noise: The unplanned static or distortion during the communication process, which results in the receiver's getting a different message than the one the sender sent.
STEPS IN DEVELOPING EFFECTIVE COMMUNICATION
• Identify the target audience
• Determine the communication objective
• Design a message
• Choose the media through which to send the message
• Select the message source and
• Collect feedback
Wholesaler
Wholesaler includes all activities involved in selling goods and services to those for resale or business use. It purchases or services from the producers but they sell it to the reseller for resale or business users.
Types of wholesaler: Wholesalers fall into three major groups. They are as follows:
• Merchant wholesalers
• Brokers and agents
• Manufacture's sales branches and office.
They are summarized in below:
• Merchant wholesalers: Merchants wholesalers are the largest single group of wholesalers accounting for roughly 50% of all wholesaling. Merchant wholesalers include two broad types:
a. Full service wholesalers and
b. Limited services wholesalers
Full service wholesalers provide a full set of services whereas the various limited service wholesalers offer fewer services to their suppliers and customers.
• Brokers: Brokers is one type of wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negation.
Agent: Agent is a wholesaler who represents buyers or sellers on a relatively permanent basis performs only a few functions and does take title to goods.
• The third major type of wholesaling is that done in manufacturer's sales branches and offices by sellers or buyers themselves rather than though independent wholesalers.
Wholesalers marketing decisions
• Wholesaler strategy
• Target market
Service
Positioning
• Wholesaler strategy
• Product and service assortment
Prices
Promotion
Places(location)
• Figure: Wholesaler marketing decisions
Types of wholesaler: Wholesalers fall into three major groups. They are as follows:
• Merchant wholesalers
• Brokers and agents
• Manufacture's sales branches and office.
They are summarized in below:
• Merchant wholesalers: Merchants wholesalers are the largest single group of wholesalers accounting for roughly 50% of all wholesaling. Merchant wholesalers include two broad types:
a. Full service wholesalers and
b. Limited services wholesalers
Full service wholesalers provide a full set of services whereas the various limited service wholesalers offer fewer services to their suppliers and customers.
• Brokers: Brokers is one type of wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negation.
Agent: Agent is a wholesaler who represents buyers or sellers on a relatively permanent basis performs only a few functions and does take title to goods.
• The third major type of wholesaling is that done in manufacturer's sales branches and offices by sellers or buyers themselves rather than though independent wholesalers.
Wholesalers marketing decisions
• Wholesaler strategy
• Target market
Service
Positioning
• Wholesaler strategy
• Product and service assortment
Prices
Promotion
Places(location)
• Figure: Wholesaler marketing decisions
Retailing
Retailing means all the activities involved in selling goods or services directly to final consumers for their personal non-business use.
Types of Retailing: Retailing can be classified in terms of several characteristics, they are:
• The amount of service they offer
• The breadth and depth of product line
• The relative price of the product and
• How they are organized
Mainly on the basis of above factors retailing are classified.
On the basis of service retailing can be classified in below four ways:
• General stores: General store is a unit marketing that is dealing business by many products. But its amount of products is very poor. It involves meeting the local demand of product.
• Single line stores: Single line store is a one-product store. But it is dealing business by the huge of that product. It is like a general store but its amount is more than general store.
• Limited line store: Limited line store is dealing business only some kinds of products but their amount is very large.
• Door to door selling: It is a small retailing business. It provides door-to-door service to the customer. That means it sells the product to the customers by going their home. Generally their amount of product is poor but they sell many types of product.
Retailing by limited product but more profit oriented: On the basis of limited product but more profit retailing, it can divide in two ways-
Super market: It is a self-service store that carries a wide variety of food, laundry and house hold products. The main characteristics of super market are it has no salesman. Customer is buyer and seller. For this reason it is called self service retailing.
• Convenience store: Convenience store is a small store located near a residential area that is opened long hours seven days a week and carries a limited of high turn over convenience goods.
Another type of retailing:
• Department store: Department store is a retail organization that carries a wide variety of product lines, typically clothing, home furnishing and household goods. Each line is operated as a separate department managed by specialist's buyers or merchandisers.
• Super store: A store almost twice the size of a regular super market that carries a large assortment of routinely purchased food and non food items and offers services such as dry cleaning, post offices, photo finishing, check cashing, bill paying, lunch counters, car case and set care.
Retailing marketing decisions
It can present the retail marketing decision in below ways by the figure
[Retailer strategy
Target market retail store positioning]|~[Retailer marketing mix
Product and service assortment
Price
Promotion
Places(location)]
Figure: Retail marketing decisions
Types of Retailing: Retailing can be classified in terms of several characteristics, they are:
• The amount of service they offer
• The breadth and depth of product line
• The relative price of the product and
• How they are organized
Mainly on the basis of above factors retailing are classified.
On the basis of service retailing can be classified in below four ways:
• General stores: General store is a unit marketing that is dealing business by many products. But its amount of products is very poor. It involves meeting the local demand of product.
• Single line stores: Single line store is a one-product store. But it is dealing business by the huge of that product. It is like a general store but its amount is more than general store.
• Limited line store: Limited line store is dealing business only some kinds of products but their amount is very large.
• Door to door selling: It is a small retailing business. It provides door-to-door service to the customer. That means it sells the product to the customers by going their home. Generally their amount of product is poor but they sell many types of product.
Retailing by limited product but more profit oriented: On the basis of limited product but more profit retailing, it can divide in two ways-
Super market: It is a self-service store that carries a wide variety of food, laundry and house hold products. The main characteristics of super market are it has no salesman. Customer is buyer and seller. For this reason it is called self service retailing.
• Convenience store: Convenience store is a small store located near a residential area that is opened long hours seven days a week and carries a limited of high turn over convenience goods.
Another type of retailing:
• Department store: Department store is a retail organization that carries a wide variety of product lines, typically clothing, home furnishing and household goods. Each line is operated as a separate department managed by specialist's buyers or merchandisers.
• Super store: A store almost twice the size of a regular super market that carries a large assortment of routinely purchased food and non food items and offers services such as dry cleaning, post offices, photo finishing, check cashing, bill paying, lunch counters, car case and set care.
Retailing marketing decisions
It can present the retail marketing decision in below ways by the figure
[Retailer strategy
Target market retail store positioning]|~[Retailer marketing mix
Product and service assortment
Price
Promotion
Places(location)]
Figure: Retail marketing decisions
Distribution Channel, Functions Level
DISTRIBUTION CHANNEL AND THEIR FUNCTIONS
Distribution channel: Distribution is a set of interdependent organizations involved in the process of making a product or service availale for use or consumption by the consumer or business user. That means distribution channels mean who are taking duty to reach the product or service from the producer to final consumer. In the case of industrial market research the product from the supplier to industrial users.
Functions of distribution channel: The distribution channel notes goods and services from producers to consumers. It overcome the major time place and possession gaps that separate goods and services from those who would use them. Members of marketing channel perform the below key functions:
• Information
• Contract
• Promotion
• Matching
• Negotiation
• Physical distribution
• Financing
• Risk taking
They are summarized below:
• Information: Gathering and distributing marketing research and intelligence information about actors and forces in the marketing environment needed for planning and adding exchange.
• Contract: Finding and communicating with prospective buyers.
• Promotion: Developing and spreading persuasive communications about an offer.
• Matching: Shaping and fitting the offer to the buyer's needs including activities such as manufacturing, grading, assembling and packaging.
• Negotiation: Reaching an agreement on price and other terms of the offer so that ownership or possession can be transferred.
• Physical distribution: Transporting and storing goods.
• Financing: Acquiring and leasing funds to cover the cost of the channel work.
• Risk taking: Assuming the risk of carrying out the channel work.
CHANNEL LEVEL: Channel level is a layer of intermediaries that performs some work in bringing the product and its ownership closer to the final buyer. Since producer and the final consumer both perform some work they are part of every channel. Channel level may customer marketing channel and business marketing channel.
• Customer marketing channel
Channel-1: Manufacturer-consumer
Channel-2: Manufacturer-retailer-consumer
Channel-3: Manufacturer-wholesaler-retailer-consumer
Channel-4: Manufacturer-wholesaler-jobber-retailer-consumer
• Business marketing channel
Channel-1: Manufacturer-industrial customer
Channel-2: Manufacturer-industrial distributor-industrial customer
Channel-3: Manufacturer-manufactser's representative or sales branch-industrial customer
Channel-4: Manufacturer-manufactser's representative or sales branch-industrial distributor-industrial customer
Distribution channel: Distribution is a set of interdependent organizations involved in the process of making a product or service availale for use or consumption by the consumer or business user. That means distribution channels mean who are taking duty to reach the product or service from the producer to final consumer. In the case of industrial market research the product from the supplier to industrial users.
Functions of distribution channel: The distribution channel notes goods and services from producers to consumers. It overcome the major time place and possession gaps that separate goods and services from those who would use them. Members of marketing channel perform the below key functions:
• Information
• Contract
• Promotion
• Matching
• Negotiation
• Physical distribution
• Financing
• Risk taking
They are summarized below:
• Information: Gathering and distributing marketing research and intelligence information about actors and forces in the marketing environment needed for planning and adding exchange.
• Contract: Finding and communicating with prospective buyers.
• Promotion: Developing and spreading persuasive communications about an offer.
• Matching: Shaping and fitting the offer to the buyer's needs including activities such as manufacturing, grading, assembling and packaging.
• Negotiation: Reaching an agreement on price and other terms of the offer so that ownership or possession can be transferred.
• Physical distribution: Transporting and storing goods.
• Financing: Acquiring and leasing funds to cover the cost of the channel work.
• Risk taking: Assuming the risk of carrying out the channel work.
CHANNEL LEVEL: Channel level is a layer of intermediaries that performs some work in bringing the product and its ownership closer to the final buyer. Since producer and the final consumer both perform some work they are part of every channel. Channel level may customer marketing channel and business marketing channel.
• Customer marketing channel
Channel-1: Manufacturer-consumer
Channel-2: Manufacturer-retailer-consumer
Channel-3: Manufacturer-wholesaler-retailer-consumer
Channel-4: Manufacturer-wholesaler-jobber-retailer-consumer
• Business marketing channel
Channel-1: Manufacturer-industrial customer
Channel-2: Manufacturer-industrial distributor-industrial customer
Channel-3: Manufacturer-manufactser's representative or sales branch-industrial customer
Channel-4: Manufacturer-manufactser's representative or sales branch-industrial distributor-industrial customer
GENERAL PRICING APPROACHES
The price the company charges will be some where between one that is too low produce a profit and one that is too high to produce any demand. Company follows the below general approaches to determine the price for a product.
• Cost based approach
• The buyer based approach
• The competition approach
They are summarized below:
• Cost based on approach: In cost based pricing includes
a. Cost plus pricing: The simplest pricing method is cost plus pricing-adding a standard markup to the cost of the product that means adding the expectations profit with the total cost of the product determine the price in cost plus pricing approach. Suppose-variable cost 10 TK, fixed cost 300000 TK, Expected unit sales 50000
Them unit cost = variable cost + Fixed cost/ Unit sales
= 10 + 300000/50000
= 16 TK.
If the company wants to earn 20% profit them price will be
= Unit cost/(1-Desired return on sales)
= 16 / 1 - 0.2 (20% )
= 20 TK.
b. Break even pricing (target profit pricing): The firm tries to determine the price at which it will break even or make the target profit it is seeking. Break even pricing or target profit pricing uses the concept of a break even chart, which shows the total cost and total sequente expected at different sales volume levels. The break even chart is as follows:
1000_|_
........._|_
800._|_
........._|_
600._|_
........._|_
400._|_
........._|______________Fixed cost 200._|_|__|__|__|__|__|__|_______
( * )10 20 30 40 50
* Sales volume in units (Thousands)
Figure: Break Even Chart for determining target price
In above figure, fixed costs are 3,00,000 TK. Regardless of sales volume, variable costs are added to fixed costs to form total costs, which rise with volume. The total revenue curve starts at zero and rise of 20 TK. Per unit.
Break Even Volume = _F_i_x_e_d_c_o_s_t_
Price-variable cost
=_3_0_0_0_0_0_0_
20-10
= 30,000 units
• Buyer based approach: Buyer based approach means value based approach. An increasing number of companies are basing their prices on the products perceived value. Value based pricing uses buyer's perception of value not the seller's cost as the key to pricing. Value based pricing means that the marketer can not design a product and marketing program and them set the price. Price is considered along with the other marketing mix variable along before marketing is set.
• Competition based pricing: Competition based pricing is setting prices based for similar on the prices that competitors charge for similar product. One form of competition based pricing is going rate pricing in which a firm bases its price with less attention paid to its own costs or to demand. The firm might charge the same more or less than its major competitors. They charge their prices when the market leader's prices change, rather than when own demand or costs change.
• Cost based approach
• The buyer based approach
• The competition approach
They are summarized below:
• Cost based on approach: In cost based pricing includes
a. Cost plus pricing: The simplest pricing method is cost plus pricing-adding a standard markup to the cost of the product that means adding the expectations profit with the total cost of the product determine the price in cost plus pricing approach. Suppose-variable cost 10 TK, fixed cost 300000 TK, Expected unit sales 50000
Them unit cost = variable cost + Fixed cost/ Unit sales
= 10 + 300000/50000
= 16 TK.
If the company wants to earn 20% profit them price will be
= Unit cost/(1-Desired return on sales)
= 16 / 1 - 0.2 (20% )
= 20 TK.
b. Break even pricing (target profit pricing): The firm tries to determine the price at which it will break even or make the target profit it is seeking. Break even pricing or target profit pricing uses the concept of a break even chart, which shows the total cost and total sequente expected at different sales volume levels. The break even chart is as follows:
1000_|_
........._|_
800._|_
........._|_
600._|_
........._|_
400._|_
........._|______________Fixed cost 200._|_|__|__|__|__|__|__|_______
( * )10 20 30 40 50
* Sales volume in units (Thousands)
Figure: Break Even Chart for determining target price
In above figure, fixed costs are 3,00,000 TK. Regardless of sales volume, variable costs are added to fixed costs to form total costs, which rise with volume. The total revenue curve starts at zero and rise of 20 TK. Per unit.
Break Even Volume = _F_i_x_e_d_c_o_s_t_
Price-variable cost
=_3_0_0_0_0_0_0_
20-10
= 30,000 units
• Buyer based approach: Buyer based approach means value based approach. An increasing number of companies are basing their prices on the products perceived value. Value based pricing uses buyer's perception of value not the seller's cost as the key to pricing. Value based pricing means that the marketer can not design a product and marketing program and them set the price. Price is considered along with the other marketing mix variable along before marketing is set.
• Competition based pricing: Competition based pricing is setting prices based for similar on the prices that competitors charge for similar product. One form of competition based pricing is going rate pricing in which a firm bases its price with less attention paid to its own costs or to demand. The firm might charge the same more or less than its major competitors. They charge their prices when the market leader's prices change, rather than when own demand or costs change.
Factors 2B considered when setting price
We know that price is the amount of money charged for a product or a service or the sum of the values that consumer exchange for the benefits of having or using the department or service.
Considerable factors: A company's pricing decisions are affected by both internal company factors and external environmental factors. The below internal factors affect a pricing decisions.
• Marketing objectives
• Marketing mix strategy
• Cost
• Organizational considerations etc.
They are summarized in below:
• Marketing objectives: Before setting the price the company must decide on its strategy for the product. If the company has selected its target market and positioning carefully them its marketing mix strategy including price will be fairly straight forward. Company's objectives may be:
a. Survival
b. Current profit maximization
c. Market share maximization
d. Product quality
The above objectives are very considerable factors to determine a price. Because on the basis of above objectives pricing is different.
• Marketing Mix Strategy: Price is only one of the marketing mix tools that a company uses to achieve its marketing objectives. Price decisions must be coordinated with product design, distribution and promotion decisions to form a consistent and effective marketing program. Decisions made for other marketing mix variables may affect pricing decisions.
• Costs: The base of pricing decision is cost. The company wants to determine the price is such a way so that it is more than production cost, distribution and selling cost. So, we can say that cost is one of the most important factors for determining a price.
• Organizational Consideration: Management must decide who within the organization should set prices. Companies handle pricing in a variety of ways. In recent small companies prices are often set by top management rather than by the marketing or sales departments. In large companies pricing is typically handled by divisional or product line managers. So, we can say that organizational factors affect a pricing decision.
EXTERNAL FACTORS: External factors that affect pricing decision include
• The nature of market and demand
• Competition and
• Other environmental elements.
They are summarized below:
• The nature of market and demand: Where as costs set the lower of prices, the market and demand set the upper limit. Both consumer and industrial buyers balance the price of a product or service against the benefits of owing it. Thus before setting prices, the marketer must understand the relationship between price and demand for its product.
• Competition: The number of competitors in market affects a pricing decision. If the market is highly competitive them company select comparably less price. Again if the price is less competitive them company can determine comparably high price. So, competition affects a pricing decision.
• Other external factors: When setting prices, the company also must other factors in its external environment. Economic conditions can have a strong impact on the firms pricing strategies. Economic factors such as boom or recession, inflation and interest rates affect the cost of producing a product and consumer perceptions of the product's price and value.
Considerable factors: A company's pricing decisions are affected by both internal company factors and external environmental factors. The below internal factors affect a pricing decisions.
• Marketing objectives
• Marketing mix strategy
• Cost
• Organizational considerations etc.
They are summarized in below:
• Marketing objectives: Before setting the price the company must decide on its strategy for the product. If the company has selected its target market and positioning carefully them its marketing mix strategy including price will be fairly straight forward. Company's objectives may be:
a. Survival
b. Current profit maximization
c. Market share maximization
d. Product quality
The above objectives are very considerable factors to determine a price. Because on the basis of above objectives pricing is different.
• Marketing Mix Strategy: Price is only one of the marketing mix tools that a company uses to achieve its marketing objectives. Price decisions must be coordinated with product design, distribution and promotion decisions to form a consistent and effective marketing program. Decisions made for other marketing mix variables may affect pricing decisions.
• Costs: The base of pricing decision is cost. The company wants to determine the price is such a way so that it is more than production cost, distribution and selling cost. So, we can say that cost is one of the most important factors for determining a price.
• Organizational Consideration: Management must decide who within the organization should set prices. Companies handle pricing in a variety of ways. In recent small companies prices are often set by top management rather than by the marketing or sales departments. In large companies pricing is typically handled by divisional or product line managers. So, we can say that organizational factors affect a pricing decision.
EXTERNAL FACTORS: External factors that affect pricing decision include
• The nature of market and demand
• Competition and
• Other environmental elements.
They are summarized below:
• The nature of market and demand: Where as costs set the lower of prices, the market and demand set the upper limit. Both consumer and industrial buyers balance the price of a product or service against the benefits of owing it. Thus before setting prices, the marketer must understand the relationship between price and demand for its product.
• Competition: The number of competitors in market affects a pricing decision. If the market is highly competitive them company select comparably less price. Again if the price is less competitive them company can determine comparably high price. So, competition affects a pricing decision.
• Other external factors: When setting prices, the company also must other factors in its external environment. Economic conditions can have a strong impact on the firms pricing strategies. Economic factors such as boom or recession, inflation and interest rates affect the cost of producing a product and consumer perceptions of the product's price and value.
New Product Development Stages
We know that new product development means the development of original products, product improvement, product modifications and new brands through the firms own research and development effort. To develop a new product effort. To develop a new product needs to maintain below stages:
• Idea generation
• Idea screening
• Concept development and testing
• Marketing strategy development
• Business analysis
• Product development
• Market testing and commercialization
They are summarized below:
• Idea generation: It is the first task to develop a new product. Idea generation is the systematic search for new product idea. To develop a new product at first needs to generate idea for a new product from the company's internal and sources.
• Idea screening: After generating the idea from various sources, in second stages need to screen the idea from that ideas. That means from the various ideas in first stage select the best and suitable idea for developing a new product.
• Concept development and testing: In this step the above selected ideas convert into the concept, that means here consider the idea in written form and test concept. Moreover here defined the product features design size, etc.
• Marketing strategy development: In this step develop the marketing strategy for the above developed product that means here decides what product will be produced what will be its price, distribution channel, promotion and so on.
• Business analysis: Business analysis is the review of the sales, costs and profit projections for a new product whether these factors satisfy the company's objectives.
• Product development: So far, for many new product concepts, the department may have existed only as a word description, a drawing or perhaps a crude mock up. If the department concept passes the business test, it involves into product development that means after analyzing the product in business side develop the product in physical form.
• Market testing and commercialization: After developing a new product, in this stage test the market for this new product and know the customer opinion regarding the new products. It it can get the positive signal from the market them commercialize the new product.
• Idea generation
• Idea screening
• Concept development and testing
• Marketing strategy development
• Business analysis
• Product development
• Market testing and commercialization
They are summarized below:
• Idea generation: It is the first task to develop a new product. Idea generation is the systematic search for new product idea. To develop a new product at first needs to generate idea for a new product from the company's internal and sources.
• Idea screening: After generating the idea from various sources, in second stages need to screen the idea from that ideas. That means from the various ideas in first stage select the best and suitable idea for developing a new product.
• Concept development and testing: In this step the above selected ideas convert into the concept, that means here consider the idea in written form and test concept. Moreover here defined the product features design size, etc.
• Marketing strategy development: In this step develop the marketing strategy for the above developed product that means here decides what product will be produced what will be its price, distribution channel, promotion and so on.
• Business analysis: Business analysis is the review of the sales, costs and profit projections for a new product whether these factors satisfy the company's objectives.
• Product development: So far, for many new product concepts, the department may have existed only as a word description, a drawing or perhaps a crude mock up. If the department concept passes the business test, it involves into product development that means after analyzing the product in business side develop the product in physical form.
• Market testing and commercialization: After developing a new product, in this stage test the market for this new product and know the customer opinion regarding the new products. It it can get the positive signal from the market them commercialize the new product.
Definition & Characteristics of Services
Service: Services are a form of product that consists of activities, benefits or satisfactions offered for sale that are essentially intangale and do no result in the ownership of anything.
That means services is not physical form of product but intangle and it only indicates the activities or benefits or satisfaction that can offer in market for sale and it can satisfy the consumer need and wants. It can not separate from the service providers and vary person to person.
From the above definition, we get the below characteristics of a service:
• Service is intangle
• It is inseparable
• Variability and
• Perishability
They are summarized below:
• Inseparability: A major characteristics of services they are produced and consumed at the same time and can not be separated from their providers whether the providers are people or machines.
• Variablity: Another important characteristics of service is their quality may vary greatly depending on who provides them and when, where and how.
• Perishability: Since when services is produced them it needs to consume. For this reason, they can not stored for later sale or use.
That means services is not physical form of product but intangle and it only indicates the activities or benefits or satisfaction that can offer in market for sale and it can satisfy the consumer need and wants. It can not separate from the service providers and vary person to person.
From the above definition, we get the below characteristics of a service:
• Service is intangle
• It is inseparable
• Variability and
• Perishability
They are summarized below:
• Inseparability: A major characteristics of services they are produced and consumed at the same time and can not be separated from their providers whether the providers are people or machines.
• Variablity: Another important characteristics of service is their quality may vary greatly depending on who provides them and when, where and how.
• Perishability: Since when services is produced them it needs to consume. For this reason, they can not stored for later sale or use.
Individual Product Decision
Individual product decisions involve the development of a product and related decisions regarding marketing a product. The below things are related in individual product decisions.
• Product attributes decision
• Branding
• Packaging
• Labeling etc.
They are summarized in below:
• Product attributes decisions: It is the first task to define the product's benefits for developing a product. These benefits are communicated and delivered by product attribued such as quality, features, style and design.
The below factors are related with the product attributes decision.
Product Quality: Product quality is the ability of a product to perform its functions, it includes the product's overall durability, reliability, precision, case of operation and repair and other value attributes.
Product features: A can product be offered with varying features. Ve company can create higher models by adding more features. Features are a competitive tool for differentiating the company's product from competitor's products.
Product style and design: Another way to add customer value is through distinctive product style and design. Product is design is an elusive blend of form and function, quality and style, art and engineering.
• Branding: Perhaps the most distinctive skill of professional marketers is their ability to create, maintain, protect and enhance brand of their products and service. A brand is a name, term, sign, symbol or design or a combination of these that identifies the maker or seller of a product or service.
• Packaging: Packaging is the activities of designig and producing the container or wrapper for a product.
• Labeling: Labels may range from simple tags attached to products to complex graphics that are part of the package. At the very least, the label identifies the product or brand. It might also describe several things about the product who made it, where it was made, when it was made, its contents, how it is to be used and how to use it safety.
• Product attributes decision
• Branding
• Packaging
• Labeling etc.
They are summarized in below:
• Product attributes decisions: It is the first task to define the product's benefits for developing a product. These benefits are communicated and delivered by product attribued such as quality, features, style and design.
The below factors are related with the product attributes decision.
Product Quality: Product quality is the ability of a product to perform its functions, it includes the product's overall durability, reliability, precision, case of operation and repair and other value attributes.
Product features: A can product be offered with varying features. Ve company can create higher models by adding more features. Features are a competitive tool for differentiating the company's product from competitor's products.
Product style and design: Another way to add customer value is through distinctive product style and design. Product is design is an elusive blend of form and function, quality and style, art and engineering.
• Branding: Perhaps the most distinctive skill of professional marketers is their ability to create, maintain, protect and enhance brand of their products and service. A brand is a name, term, sign, symbol or design or a combination of these that identifies the maker or seller of a product or service.
• Packaging: Packaging is the activities of designig and producing the container or wrapper for a product.
• Labeling: Labels may range from simple tags attached to products to complex graphics that are part of the package. At the very least, the label identifies the product or brand. It might also describe several things about the product who made it, where it was made, when it was made, its contents, how it is to be used and how to use it safety.
Product Line Decision, Mix Decision
• Product Line Decision: We have looked at product strategy decisions such as branding, packaging, labeling and support service for individual products and service. But product strategy also calls for building a product line.
Product line: Product line group of products via are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outles, or fall within given price ranges.
• Product Mix Decision: An organization with several product lines has a products mix. A product mix or product assessment consists of the entire product for sale.
Product line: Product line group of products via are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outles, or fall within given price ranges.
• Product Mix Decision: An organization with several product lines has a products mix. A product mix or product assessment consists of the entire product for sale.
Product Life Cycle
After launching the new product, management wants the product to enjoy a long and happy life. Although it does not expect huge product to sell over, the company wants to farm a decent profit to cover all the effort and risk that went into launching it.
It involves five distinct stages. They are as follows:
• Product development
• Introduction
• Growth
• Maturity
• Decline
The product revenue and profits
can be plotted as a function of
the life-cycle stages as shown in
the graph below: /We can represent these stages through the figure in below way:
Management is aware that each product will have a life cycle, although the exact shape and length is not known in advance. So product life cycle is the course of a product's sales and profits over its life time.
*Product Life Cycle Diagram
• Product developement: Product Developement begins when company finds and develops a new product idea. During product development sales are zero and the company's investment costs mount.
• Introduction: Introduction is a period of slow sales growth as the product is introduced in the market. Profits are non existent in this stage because of heavy expenspes of product introduction.
• Growth: Growth is a period of market acceptance and increasing profit.
• Maturity: Maturity is a period of slow down in sales growth because the product has recieved acceptance by most potential buyers. Profit level off or decline because of increasing against competition.
• Decline: Decline is the period when sales fall off and profit drop.
It involves five distinct stages. They are as follows:
• Product development
• Introduction
• Growth
• Maturity
• Decline
The product revenue and profits
can be plotted as a function of
the life-cycle stages as shown in
the graph below: /We can represent these stages through the figure in below way:
Management is aware that each product will have a life cycle, although the exact shape and length is not known in advance. So product life cycle is the course of a product's sales and profits over its life time.
*Product Life Cycle Diagram
• Product developement: Product Developement begins when company finds and develops a new product idea. During product development sales are zero and the company's investment costs mount.
• Introduction: Introduction is a period of slow sales growth as the product is introduced in the market. Profits are non existent in this stage because of heavy expenspes of product introduction.
• Growth: Growth is a period of market acceptance and increasing profit.
• Maturity: Maturity is a period of slow down in sales growth because the product has recieved acceptance by most potential buyers. Profit level off or decline because of increasing against competition.
• Decline: Decline is the period when sales fall off and profit drop.
Classification of Product
Mainly these are two types of product.
A. Consumer product
B. Industrial product
A. Consumer product: Consumer products are those bought by final consumer for personal consumption. Marketers usually classify those products further based on how consumers go about buying them or on the basis of consumers shopping habit marketers classify the consumer goods. There are four types of consumer goods/product:
• Convenience product: Convenience products are consumer products and services that the customer usually buying frequently, immediately and with a minimum of comparison and buying effort. Generally it is less costly and it can get everywhere. Such as soap, candy, tooth paste, newspapers, salt, oil etc.
• Shopping product: Shopping products are consumer products that the customer on such bases as suitability quality, price and style. When consumer purchases shopping products and services them he spends much time and effort in gathering information and making comparison. It includes Furniture, Sharee, Clothing, Ornament, TV etc.
• Specialty product: Specially products are consumer products with unique characteristics or brand identification for willing to make a special brands and types of cars, high priced photographic equipment, designer, clothes and the service of medical or legal specialists.
• Unsought product: Unsought products are consumer products that the consumers either does not know about or knows about but does not normally think of buying. Such as life insurance and blood donations to the Red Cross.
B. Industrial goods: Industrial products are those products bought by individuals and organizations for further processing or for use in conducting a business.
The three groups of industrial product and services include.
• Material and parts
• Capital items and
• Suppliers and services
They are summarized below:
• Material and parts: Materials and parts are industrial products that totally entered the marketers or producers product. If is parts of main product. Materials and parts includes raw materials and manufactured materials and parts.
* Raw materials: Raw materials consists of farm products (wheat, cotton, livestock, fruits, vegetables) and natural producs (fish, lumber, crude petroleum, iron)
* Manufactured materials and parts: Manufactured materials and parts consists of component materials (iron, yarn, cement, wires) and component parts (small motors, tires, casting)
• Capital items: Capital items are industrial products that aid in the buyers production or operation or operation. Capital items include installation and accessory equipment.
* Installations: Installations consist of major purchases such as buildings (factories and office) and fixed equipment (generations, drill, presses, large computers, elevators) etc.
* Accessory equipment: Accessory equipment includes portable factory equipment and tools (hand tools, lift trucks) and office equipment (fax, machineries desks). They have a shorter life than installation and simply aid in the production process.
• Suppliers and services: The final group of business products is suppliers and services. Supplies include operating supplies (lubricants, coal, paper, pencil and repairs and maintenance items (paints, nails, brooms). Suppliers are the convenience product of the industrial field because they are usually purchased with a minimum of effort or comparison. Business service includes maintenance and repair services (window cleaning computer repair) and business advisom services (legal, management consulting advertising). Such services are usually supplied under contract.
A. Consumer product
B. Industrial product
A. Consumer product: Consumer products are those bought by final consumer for personal consumption. Marketers usually classify those products further based on how consumers go about buying them or on the basis of consumers shopping habit marketers classify the consumer goods. There are four types of consumer goods/product:
• Convenience product: Convenience products are consumer products and services that the customer usually buying frequently, immediately and with a minimum of comparison and buying effort. Generally it is less costly and it can get everywhere. Such as soap, candy, tooth paste, newspapers, salt, oil etc.
• Shopping product: Shopping products are consumer products that the customer on such bases as suitability quality, price and style. When consumer purchases shopping products and services them he spends much time and effort in gathering information and making comparison. It includes Furniture, Sharee, Clothing, Ornament, TV etc.
• Specialty product: Specially products are consumer products with unique characteristics or brand identification for willing to make a special brands and types of cars, high priced photographic equipment, designer, clothes and the service of medical or legal specialists.
• Unsought product: Unsought products are consumer products that the consumers either does not know about or knows about but does not normally think of buying. Such as life insurance and blood donations to the Red Cross.
B. Industrial goods: Industrial products are those products bought by individuals and organizations for further processing or for use in conducting a business.
The three groups of industrial product and services include.
• Material and parts
• Capital items and
• Suppliers and services
They are summarized below:
• Material and parts: Materials and parts are industrial products that totally entered the marketers or producers product. If is parts of main product. Materials and parts includes raw materials and manufactured materials and parts.
* Raw materials: Raw materials consists of farm products (wheat, cotton, livestock, fruits, vegetables) and natural producs (fish, lumber, crude petroleum, iron)
* Manufactured materials and parts: Manufactured materials and parts consists of component materials (iron, yarn, cement, wires) and component parts (small motors, tires, casting)
• Capital items: Capital items are industrial products that aid in the buyers production or operation or operation. Capital items include installation and accessory equipment.
* Installations: Installations consist of major purchases such as buildings (factories and office) and fixed equipment (generations, drill, presses, large computers, elevators) etc.
* Accessory equipment: Accessory equipment includes portable factory equipment and tools (hand tools, lift trucks) and office equipment (fax, machineries desks). They have a shorter life than installation and simply aid in the production process.
• Suppliers and services: The final group of business products is suppliers and services. Supplies include operating supplies (lubricants, coal, paper, pencil and repairs and maintenance items (paints, nails, brooms). Suppliers are the convenience product of the industrial field because they are usually purchased with a minimum of effort or comparison. Business service includes maintenance and repair services (window cleaning computer repair) and business advisom services (legal, management consulting advertising). Such services are usually supplied under contract.
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