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The resource was very keen to understand the level of business of the participants. After having a fair amount of idea about the nature of various businesses he began discussion with the relation between need and want. The resource person then briefed the participants about the various environments, which largely prevail in the business i. e External environment, and Internal environment. The internal environment includes factors like Man, Machine, Material, Marketing, Money and the external factors like Tax, Laws, Government, Competitors etc. He oriented the participants about optimizing the use of internal environment, which are Material, machine, money and marketing. A customer of any product longs for the best value of their money hereby the judicious use of all these resources is very important. The psychology and the profile of the customers as well clients must be studied well before designing the marketing strategy as it helps the business to define the quantity, quality, circulation of the product. . The resource person emphasized on those details and issues, which are largely needed by entrepreneurs in the operations. The presentation was holistic in nature it covered all aspects related to Managing 4M and even went on to discuss about other allied factors. The accurate combination all the internal resource supplemented by effective planning must be insured in order to grow sales, turnover, and income. The resource person discussed about the concerns and fears among the traders, vendors, and suppliers arising out of the mal-implementation of 4Ms. Dr. Bhattacharya also highlighted on some ways to deal with the bad debt, credit, etc. in the market. The question ranged from how could 4Ms effect their business, turnover, sales, and the flow of finance in the market. The entrepreneurs shared their experience about implementation of 4Ms and discussed about how they have been planning about marketing. The entrepreneurs participated in the programme enthusiastically and gained very useful information about marketing, material, money, man. |