Public Policy Final)

8/4/2019 Public Policy Final)

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Presented By:-

Rajat Rekhi (24-MBA-07)

Ramandeep Singh (26-MBA-07)


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yWhat is a Product ?

y Public Policy Issue

y Public Pressure: A Cycle Of Concerns

y Business Attitudes toward Product Issues!!!y The Battle: New Products Manager

y Public Policy : Problem Areas!!!

y Underlying Issues!!!!

y Finding Solutions!!!

y Conclusion !!!


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y It is defined as a "thing produced by labor oreffort"or the "result of an act or a process.

y Inmarketing, a product is anything that can beoffered to a market that might satisfy a want orneed.

y In retailing, products are called merchandise.y Inmanufacturing, products are purchased as raw

materials and sold as finished goods.y In project management, products are the formal

definition of the project deliverables that make upor contribute to delivering the objectives of theproject.


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PUBLIC POLICY:- The interest of the community. If any contract or deal contrary to

public policy, it will make it an illegalcontract


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State ofidleness

Defusedby

thoseattacked

i. Stirring

ii. TrialSupport

iii. PoliticalArena

iv. RegulatoryAdjustment


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1. Stirring: Individuals begin to sound off long beforeenough people have been injured or irritated tocause a general reaction.

2. Trial Support:As the stirring over,

an issueincrease, a champion may decide to take it on as acause.

3. The Political Arena: Issue acquired a political base

4. Regulatory Adjustment: New regulatory legislationis rarely precise , and this imprecision leads to aperiod of jockeying (taking advantage) by theadversaries over its interpretation.


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y Business firms deal with public policy issues on amuch broader base than just new products

y Reached a structure of beliefs on interface betweenbusiness and societyy Our concerns at the margin, that is dealing in areas of

temporary uncertainty and changey New product causing unexpected concern on Public

Policy is result of careless management.


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Individuals cause leaders, trial lawyers, injured customers

Regulators at all levels

Legislators in states/provinces

Federal legislators

Critics within thefirm

Newproductsmanager

Service to

Customers

And

Public


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y Product Liability.

y Environmental Needs.

y Worthy Products.

y Morality.y Monopoly.

y Personal Ethics.


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Person buys a product and gets injured If guilty, the accused party is liable for the cost and the

pain of the injury, plus punitive damages as well Product liability applied both to goods as well as servicesy Typology Of Injury Sources Inherent risks Design defects

Dangerous Condition. Safety Device Inadequate Materials

Defects in manufacture Inadequate instructions for use or warnings against particular usesAfter use Dangers.


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Legal Bases Negligence Warranty Strict Liability Misrepresentation

Source By Law A Promise Court Decisions By Law

Condition Defective product

Failure to warn

Defective Product

Implied Warranty

Express Warranty

Defective product

Reasonably

Foreseeable

Untrue Claim

Misrepresentation

Defense Not Negligence

Not Defective

Product

Not implied by

Common Usage.

Not Actually

Stated.

Normal Puffery

(Praise)

Buyer Knew So

assumed Risk .

Unforeseeable

misuse.

Product Not

Defective.

Truthful

Normal puffery

Buyer Should Know


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New products environment hazards:- If its raw materials are scarce or hard to get If its design or manufacture causes pollution or excess

usage

If its use cause pollution If any disposal problem cannot be handled by recycling

Managerial Dilemma:- Problems of reconciling trade offs

Between costs and efficiency in the firm Between price and environmental benefits to society. Social costs and social benefits are difficult to be measured

Example:- P&G, Areil Ultra Detergent


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Strategic planning

Concept generation

Pre Technical screening

Technical developmentMarketing developmentTechnical developmentMarketing development

launchlaunch


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y It is producing the products that have worth of theirmoney for a particular segment.

y Example :-y

AIDS medicine because of less potential cutomer


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y It is careful positioning of the product in line with thebenefits and prosperity of society.

y Example:-y

I- Pill Contraceptive Pill.


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y It is obtaining market dominance and pressurizing thecustomer for purchase or removal of alternatives fromthe market.

y

Example:-y Apple And Luxpro MP3 manufacturers ,Apple filed a

case against Luxpro.


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y Taking Decisions at Individual Level rather than atManger Level.

y May or may not be based on Business management.

y

Example:-y Copying and declaring Innovation.y Hiding Information from Distributors And Dealers.y Misleading Names and Labels.y Lying to Customer for sale purpose.


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y Reasonable Goal For Action.y Risk Free Existence (Not Possible).

y Zero Defect Quality Control.

y Trade Off Problemy Example :- DDT Insecticide.

y Cost Perspective:-y No system can make products perfectly .

y No consumer group will use product with full wisdom.y Who Should Pay ?


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y Strategy And Policy :-y Involvement of Top management.y Example:- TATA Nano Project in WB

y Control Systems:-y Tough Standardsy Rigorous Auditingy Good Record Keepingy Training Of New Product Employeey

Example : - NOKIA, BL-5C Battery replacements.


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y Product Testing : -y Understanding Customer Usage

y Matching the product in terms of usage pattern.

y

Example :- Godrej; office Sitting Chairy Marketing :-

y Labeling And Adequate Warning.

y Cautious Distribution Channel.

y

Example:- Pidilite, Terminator Wood Preservative


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y Market Testing :-y Market Tests combining product and promotion.y Distributors Understanding.y Right Target Customer.y Example:- GSK, Womens Horlicks

y Education:-y Company Personnely Consumersy

Example:- HUL , Colgate Tooth Paste.


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y External Affairs:-y Accepting Legislature

y Public Affair Programs

y

Consumer Participationy Example:- P&G , Duncan Hines fantastic Party Cakes.


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y Public Policy Issues are complex and are alwayspresent .

y Every Public policy Issue dont have an answer.

y Only solution which will be always fruitful is

Prevention Is Better ThanCure


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Documents

Public Policy Final)