July 1, 2008 at 7:30 pm (Marketing Communication)
Tags: Marcom, marketing services, Outsourcing
Recently I got a chance to talk to our company’s CEO, Reshma Nigam, aMarketForce.
We discussed about why is that demand and price have to be in co relation and why every company needs Marcom services. During the discussion she told me about her early days with our company. She said “The reason I started aMarketForce was to provide good quality and affordable marketing services from India. Small and medium size companies were suffering as they could not get good value work from similar teams in the US. My team in India is highly qualified technically and very stable. For human resource intensive projects that require detailed work, outsourcing is the best option for US companies. They don’t have to worry about expanding the team when work is heavy or layoffs when the work dries up.”
Not that I never knew about outsourcing and it advantages but it always feels good to know about the history behind any concept. The reason why we started our company was to provide a complete marcom solution to those growing companies who have always faced problem due to resource crunch. I myself belive that outsourcing is a boon to all of us. What do you feel about outsourcing? I would like to know your thoughts.
Durga Sharma
www.amarketforce.com
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July 1, 2008 at 6:44 pm (Demand Generation)
Tags: demand, market, price
Demand is an economic principle that describes a consumer’s desire and willingness to pay a price for a specific good or service.
“Rita desires to buy a house.” A closer inspection to this sentence reveals that Rita just has expressed the desire to own a house but its not clear if she can really buy the house. In simple words, its not clear if Rita wishes to pay the price of the house to fulfill her desire.
Desire and needs standsat the same level. There is no end to desire or need ever. There is only temporary phase where we feel that our need is fulfilled. As one level need gets fulfilled it leads to another one and there is no stopping.
In a market there are many factors that can affect demand for a product or service. These factors are:
- Price and Price of other goods (e.g. Increase in prices of Mangos leads to low consumption of the fruit and viceversa. Substitute and Complimentary products: Subsitutes like tea and coffee. If the price of tea increases people will opt for coffee and viceversa. Complimentary products like tea and sugar. You can not make tea without sugar and so they are complementary products. If price of one increases then other’s price will automatically increases.
- Income (e.g. Increase in dad’s income increases kid’s pocket money demand and also other family expenditure.)
- Economy (e.g. Economy on boom or recession)
- Taste and Preferences (e.g. Style keeps on changing and so does people’s taste and preference)
- Population or number of buyers (demand for land increase as the population increases.)
- Quality( Cost of Music CD is more that cassattes as the quality is also more.)
- Future Expectation (e.g. An increase in expected future price of a good increases current demand)
With every other factord constant, price is the main cause of change in demand. We can talk more about Demand and related terms in next posts. Please let me know your all’s thoughts.
-Durga Sharma
http://www.amarketforce.com
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