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    J.U.I.C.E: Flavours of Management
    J.U.I.C.E: Flavours of Management
    J.U.I.C.E: Flavours of Management
    Ebook195 pages2 hours

    J.U.I.C.E: Flavours of Management

    By Mohit Jain

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    About this ebook

    We all like story books. On the other hand, majority of the students do not feel like reading academic books because they find them difficult to understand. J.U.I.C.E. contains different short stories explaining the concepts of Economics and Management. Readers would not feel that they are reading something relevant to their academics but still by the end of it, they would attain a lot of knowledge regarding these subjects. Our motto is to make people view these subjects from a different perspective and expand the horizon of their thinking.
    Reviews:
    “It is a rare delight to be entirely absorbed in a book when a writer is able to connect all the five senses, so the reader can feel they are truly present.”
    – PARAG JAIN, Manager Finance System, BioMarin, USA
    “Required reading for my marketing students.”
    – SUSHMIT MITRA, Eastern Institute of Management
    “JUICE encompasses ways and methodologies of studying in right and appropriate directions.”
    – AUBHI HOME, Indo German Training Centre
    “By this book the author pushes a bit of himself and pulls a bit of his students to come to a fulcrum from where load and effort would bring remarkable results.”
    – SAURABH SAXENA, SCG Institute of Management and Technology, Rachael
    “The very book I have been looking for most of my life….Mohit wears his knowledge with aplomb and a lot of very good ideas”
    – MONALISHA BANERJEE, Director, Nalanda Institute of Advanced Studies
    LanguageEnglish
    PublisherNotion Press
    Release dateMay 27, 2014
    ISBN9789384049508
    J.U.I.C.E: Flavours of Management

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      Book preview

      J.U.I.C.E - Mohit Jain

      J.U.I.C.E.

      Flavours of Management

      Join us in creating education

      Mohit Jain

      Notion Press

      5 Muthu Kalathy Street, Triplicane,

      Chennai - 600 005

      First published in India by Notion Press 2014

      Published by arrangement with MJ Magic Studio

      Copyright © Mohit Jain 2014

      All Rights Reserved.

      ISBN: 978-93-84049-50-8

      Cartoons designed at MJ Magic Studio by Shilpi Jain & Dipanwita Bag

      Edited at MJ Magic Studio by Sonal Parulekar & Shaleen Dubey

      Translated at MJ Magic Studio by Veera S, Meenakshi Dhar, Shweta Dey, Pooja Adhikari, Jill Shah & Shaleen Dubey

      MJ Magic Studio

      Sudrishti, 4th Floor, 153 N S C Bose Road, Kolkata – 700 040, India

      Printed and bound in India by

      Notion Press

      5 Muthu Kalathy Street, Triplicane, Chennai – 600 005, India

      For Feedback, Suggestions and Sales; contact

      www.mohitjainreveals.com

      mj@mohitjainreveals.com

      This book has been published in good faith that the work of the author is original. All efforts have been taken to make the material error-free. However, the author and the publisher disclaim the responsibility.

      No part of this book may be used, reproduced in any manner whatsoever without written permission from the author, except in the case of brief quotations embodied in critical articles and reviews.

      All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form, by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of the publisher & the author. Also, may it be pleased noted that anybody infringing the work in any way or shape shall do so at his loss or peril and render himself liable accordingly

      under the relevant law or laws.

      Only way to woo the consumers is with

      more not less

      Foreword

      One of the main problems faced in many educational endeavours today, is the, disconnect between theoretical learning and practical application.

      Mr. Mohit Jain has been associated with the Indo-German Chamber of Commerce for nearly 4 years now in his capacity as a faculty member for our management courses. His most outstanding quality is his way of teaching management subjects with a practical approach, enabling students to apply and find it relevant what they have learnt once they join organisations.

      The idea of publishing a book that teaches management through stories is another way of showing his genuine concern for students and their learning needs. I wish him all success in this endeavour and that many students will benefit from this book.

      Sabina Pandey

      Regional Director

      Indo-German Chamber of Commerce

      Kolkata

      April, 2014

      calcutta@indo-german.com

      Table of Contents

      Title

      Copyright

      Foreword

      J.U.I.C.E. – The Story Book

      Marketing

      1. Direct Marketing

      2. 4Ds of Marketing Mix

      3. 4S of Rural Marketing Mix

      4. Don’t Lie, Hide the Truth

      5. In Search of Brand Identity

      Economics

      6. What is Economics?

      7. My Mother is the best Economist

      8. Taking about Central Problems

      9. Economics in Advertisement

      10. Perfect Competition is a Model

      Acknowledgements

      J.U.I.C.E. – The Story Book

      We all like story books. Don’t we? A Tale of Two Cities by Charles Dickens and The Lord of The Rings by J.R.R. Tolkien are some of the story books which have captured millions of hearts and more than a million copies of the same have been sold.

      The reason being, they are so intriguing and interesting that we feel tempted to keep reading them till the last page. Whenever we get time, be it while travelling, breaks during office hours or before sleeping, we read our favourite novels to relax ourselves and spend our time in a delightful way. We do not feel like we lack a company since through them, someone talks to us, shares his/her experiences, thoughts and ideas. A good novel is like a true friend which inspires us, understands us, corrects us and helps us to take right decisions in our personal as well as professional lives. Whether the genre of the novel is fiction, comedy, philosophical, psychological or biography, we always have something to learn by the end of it.

      On the other hand, we tend to avoid academic books as they contain boring complex chapters having difficult mathematical formulas, technical terms and complicated concepts. Majority of the students do not feel like reading academic books because they find them difficult to understand. Instead of struggling for countless number of hours to understand each and everything they naturally prefer someone explaining the same thing to them in a simpler way.

      If all the subjects like Mathematics, Statistics, Managerial Economics, Production Management, Operational Management, Business Communication, Brand Management are explained in the form of story writing, then studying can be made exciting and easy to understand for the students.

      This would seed interest among the students and they would enjoy the whole learning process rather than taking it as a burden. Studying would become a choice instead of a compulsion.

      J.U.I.C.E. contains different short stories explaining the concepts of Economics, Mathematics and Management. Readers would not feel that they are reading something relevant to their academics but still by the end of it, they would attain a lot of knowledge regarding these subjects. Our motto is to make people view these subjects from a different perspective and expand the horizon of their thinking. We aspire to spark curiosity among the readers and a desire among them to explore these subjects and gain knowledge about them in depth. Not only do we focus on attaining knowledge on these subjects but also on how to implement them in real life scenarios.

      In this book, I have used my 17 years of teaching experience and the theories that I have developed over all these years to give the audience something which would help them in the long run. After reading the book, they would feel that they have invested their time reading something useful, yet entertaining.

      Putting this theory into practice is indeed a challenge and requires a lot of thought, dedication and consistent effort. However, if accomplished it could bring out wonderful results.

      So, let us all Join Hands in Creating Education.

      JUICE it up!

      1

      Direct Marketing

      A vital ‘Mantra’ for all Management Trainees!

      I have always held on to the belief that ‘practical field work’ is a crucial learning ground; hence, moving beyond textbooks and classrooms is an essential part of pedagogy. The base-knowledge provided in a classroom is undeniable, but the realistic implementation and expression of that knowledge is fundamental. The risk of redundancy is inevitable when the lessons learnt remain unexercised.

      The teaching and learning being confined within a classroom often holds true at the primary, secondary, and tertiary levels of education in the country. However, with nine years of teaching experience in the world of management, tertiary-level-education holds my interest. My teaching experience in varied institutions of Management, spread over different locations in the country, has made me aware of the fact that a number of Management Courses are well protected within the four walls of an AC classroom. The spillage of the lessons learnt is restricted. The trainees do not get an opportunity to put their knowledge to test in the social climate, leading to a fissure between the ideas learnt and its practical execution.

      In this context, I often recall, in particular, my experience as a Management Trainee in the field of Direct Marketing, which offered me certain valuable lessons that I adhere to in my professional as well as personal life. The base of these valuable lessons was embedded in me from the very day I started working as an Management Trainee. Our task as trainees was to successfully market ‘FUNCITY’ discount cards. I distinctly remember that the only time our ideas got reflected within a room was during the daily morning and evening feedback sessions that generated motivation amidst the trainees, followed by the assessment of the collected feedback. At the beginning of each day of our 3 month journey, the room echoed with the chants of ‘JUICE’ (Join Us in Creating Education) by all the energetic new minds. The enthusiasm ‘to go out on the field’ was immense.

      Firstly, the experience made me understand the value of time and targets. Eight hours of work within the territorial target area demanded each individual trainee to meet two hundred people every day in order to successfully market eight discount cards. This way we ended up approaching twenty five people an hour. The component of time and the target were crucial; along with the simultaneous process of effective marketing and networking.

      Secondly, I comprehended the term ‘Law of Averages’ not in figurative but in literal terms. The vision for each hour was to meet twenty five people and market a card. Our team managers (with in-depth experience of the field) had affirmed that after every twenty four ‘Negative Response’ there would be one ‘YES’. My experience on the field undoubtedly confirmed the same. Indeed behind every twenty four unsuccessful attempts there was a successful marketing of one discount coupon. Therefore, the motive of each trainee was to exercise the ‘Law of Average’.

      Thirdly, I realized that a sense of achievement is vital. A common phenomenon amidst the trainees was to get de-motivated and depressed after continuous rejections on the field. The team mangers operating on horizontal power structure acted as mentors rather than autocratic leaders. They not only guided and motivated us but also made us believe that the target of marketing eight discount coupons was possible. In addition to the intrinsic motivational factors, extrinsic perks were made available too. Post eight hours of learning on the field, the evening session highlighted the appreciation of achievement. The trainee who marketed eight coupons successfully in a day was welcomed with applaud from the entire team and by ringing a bell

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