Poornaprajna Institute of Management, Udupi

August 19, 2008

Concepts do not Change The Circumstances in which the

Concepts are applied will Change Basic Concepts of an Entrepreneur get

Modified from Time to Time A Highly Successful Companies try all

the Concepts

Basic Approach to the Consumers Conditions of the Market Product Nature Racial Qualities Religious Beliefs Personal Qualities of the Entrepreneur Reaction to the Market Exploitation of the market

Short Term Profit Life Time Consumers Nature of Risk Taking Believing in the Ignorance of Consumers Belief that Good Product sells by Itself Putting Morals Above business and

profit Easier Selling Efforts

Monopoly: legal or natural Created Monopoly Branded Monopoly Competition Market becoming Homogenous Consumer becoming complex Unpredictability of Consumer Behaviour

Insurance Products Booking for Graveyards Vacuum Cleaners Water Purifiers Encyclopedias

Mongolian Race: Techno-Savvy, Amoral in Business Practices (Beg,

Borrow or Steal), Product innovation, Firm Belief in Product Concept; Business is War

Caucasian Race: Risk-taking, Brand Building, Advertising, and Belief in Marketing Concept; Business is Gambling

Parsi Community’s Belief in Product Concept

Approaches of Tata Group and Godrej Group

Microsoft Apple Computers IBM Computers Reliance Group Amul

Protecting Market Share Gaining Shelf Space Shooting in the Air Competition Diversification, Dithering, Consolidation,

Restructuring ………..Total surrender to the Market