The Hindu Business Line : `Planning is the basis of all corporate activity'

"Planning is fundamental and forms the basis of any corporate activity. Sixty per cent accuracy with planning is better than a blindfolded approach. More importantly, one needs to plan for the planning to be successful and yield desired results," Mr Hari Prakash, General Manager, Concorde Motors Pvt Ltd, told post-graduate management students of Stansfield School of Business after inaugurating the Business Line Club at the college.

Stressing the importance of planning, Mr Prakash said India has 25 crore families. Each one of them has needs and each one of them is different. This is a huge market for any marketer. A corporate can offer different products to these households for which planning with respect to their tastes, preferences, income level, purchasing power, present necessities and future needs is vital.

A sales management job might be frustrating for a bright young management graduate, but a product management line is better and will be a challenging one, he said. Every organisation has product managers, though they exist in different names.

Elaborating on rural markets, Mr Prakash said, "In rural markets, emotions are much stronger and therefore the loyalty to a product. The farmer who bought a brand wants his son also to buy the same brand. It will take more than 15 years to get a foothold in rural areas which means a marketer has to invest for 15 years to get a share of the rural markets."

In his closing remarks, Mr Prakash said, "There are many functions in a corporate. An MBA should know all these functions as he is expected to be a multi-tasker."

Besides the post-graduate students of management, faculty members Mr K. Sai Manohar, Mr S.K. Shankar and Ms Usha were also present on the occasion.

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