Market segment Essay Example

Market segment Essay I will make some attractions to my business such as putting balloons outside my shop so that it will be noticed from a far distance and the balloons will have my business logo on it so people will know where it is from. In addition, balloons will attract children who are with an adult and will promote them come to my shop.  Marketing  I carried out a questionnaire, asking males and females my ten questions. My questionnaire will give me an idea of what people like the most about mobile phones and I will be able to find out the most popular features on a phone that are suitable to peoples needs. Using the information from my questionnaire and the specifications of the final business, I will evaluate the possible ways on marketing. I will be focusing on the marketing mix, the four Ps.  To obtain my marketing strategy, I need to mix the four Ps in the right proportion to achieve the best marketing mix. It is no good getting one P right. It would be a total waste of time for a business to open up a business, which no one has heard in the world. Each of the four Ps is essential to a marketing success. They must be properly mixed so that the whole package appeals to the target market in the chosen market segment. We will write a custom essay sample on Market segment specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Market segment specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Market segment specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The most important one is product. Without the product, there would be no price, place or promotion. The product is the basis of the whole marketing process. My business is going to be on a mobile phone shop so for me to start the business I have to make sure that I have an enough number of mobile phones to sell.  The next one is price, which involves many different types of methods. These include complementary price, penetration price, promotional price, competitive pricing and skimming price. For my business, I will have to choose one that will be suitable for my business. I will choose a price to charge, state how I came to a final price and which pricing strategies I will use. I will also link the price to the other Ps. The next one is promotion. A business draws attention to itself and its products in this way. There are three main methods, which are:  I will look at what needs to be done at the current stage of the product life cycle and what needs to be done later. I will look at my target audience, the size of the market, the size of my advertising budget and state which mediums I will choose. I will conclude for my chosen advertising mediums. I will state the public relations involved including public demonstration and the company logo. The last P is place. This deals with how a business distributes its products. There are four main channels of distributions, which link the producer, seller, consumer or buyer. For my business, I will have to choose the channel of distribution, which is most suitable for my business.  At the introductory stage of the product life cycle, a lot of advertising is required. I will focus on television, radio and newspaper advertising at first because it will create awareness to a large audience, which is essential at this stage of the product life cycle. I will focus on other types of advertising later on in the product life cycle.

Global Trends and Strategy within the United States

Global Trends and Strategy within the United States Introduction Over the past decade, many tumultuous events have taken place within the United States. Over the past ten years, there has been a severe economic depression, a terrorist attack, a significant crunch of the U.S. stock markets, mass layoffs, and a meltdown of the housing sector. Unemployment rate climbed to an all time high of 10 percent for the first time since 1983 that followed the severe recession of 1980s (Fernald, 1999, p. 771).Advertising We will write a custom essay sample on Global Trends and Strategy within the United States specifically for you for only $16.05 $11/page Learn More Additionally, following the recent recession, labor and capital mobility have declined while poverty levels have increased. Nevertheless, by the beginning of 2010, the U.S. economy began to show signs of recovery with new job opportunities. However, the wages paid across many sectors are not satisfactory. Normally, changes in the stock market indicators, labor mobility, and rise in people’s wealth are used in assessing the condition of the U.S. economy. In recent times, local economic development dominates the U.S. politics with many calling for the adoption of entrepreneurial strategies. Currently, trends in development policies focus more on job creation and entrepreneurship than on the provision of public goods and social services (Sperling, 2008, p. 78).These strategies are in response to the rising levels of unemployment, poverty, and economic recession. The current trends and strategies within the United States lay more emphasis on the job and wealth creation. The U.S. Financial Crisis The current financial crisis in the United States can be attributed to two main factors: ineffective regulatory mechanism and global policies that influence liquidity. Prior to the crisis, the interest rates in the United States were relatively high. Other countries, like Japan or China, had zero interest rates and fixed exchange rates respecti vely. This significantly affected liquidity resulting to the crisis. At the same time, the U.S. regulatory framework could not adequately protect the local financial markets from global forces. In other words, the past policy options involving incentives particularly the residential mortgage backed securities (RMBS) of 2004 (Moretti, 2004, p. 117) contributed to the financial crisis. In 2004, three factors contributed significantly to the crisis. The first factor involves the establishment of the zero equity mortgages under the past regime (Koven, Lyons, 2010, p. 89). These aimed at improving access to mortgages by low-income earners. Second, the high capital requirements by the regulator, the Office of Federal Housing Enterprise Oversight (OFHEO), forced banks to offer low interest mortgages to low income earners.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Third, the invest ment banks were allowed to manage their own risks based on their capital reserves. Prior to 2004, stringent rules allowed for 1: 15 equity to debt ratio (Moretti, 2004, p. 121). However, under the new scheme, investment banks at liberty to implement a skewed ratio in order to generate more revenue. The crisis in the mortgage sector eventually spread to include the U.S. money markets crippling the entire financial system of the U.S. and the U.K. financial systems as well. As a result, the money markets could not finance development or personal consumption leading to massive layoffs. Currently, it is increasingly difficult to raise funds for financing infrastructural development. Thus, common global trends focus on wealth creation. Common Global Economic Trends The slowdown in economic growth in developed economies has had significant impacts on the economies of other countries through financial and trade linkages. Before the recent economic recession and rise in terrorist threats, th e leading world economies did not undertake to adopt a common macroeconomic policy to revive the world economy (Fernald, 1999, p. 784). Additionally, in the short-term money markets, both financial and non-financial institutions employ all manner of measures to raise funds for financing their investments. This affected the inter bank markets. Consequently, currently, central banks globally have undertaken measures to increase liquidity of the inter bank markets. However, not much success has been achieved in the inter bank markets. Currently, manufacturing companies have established an operating plan that takes into account many parameters to increase cash flow or liquidity and profit margins. Additionally, under Basel II, banks employ various internal mechanisms to assess their capital needs not only for the determination of the price risks in their operations but also, and more importantly, for the inter bank credit risks (Koven, Lyons, 2010, p. 81). Effective regulation, though intrusive, compels banks to act favorably to ensure economic. Regulators, often the central banks, normally implement policies that specifically promote financial market and macroeconomic banking stability. Recent statistical figures show that the recovery of the U.S. economy is slow than earlier anticipated. The growth in the United States economy is attributed to increased consumer spending despite the sharp decline in household wealth resulting from a reduction in the equity value and increased unemployment rates.Advertising We will write a custom essay sample on Global Trends and Strategy within the United States specifically for you for only $16.05 $11/page Learn More Stimulus packages involving temporary tax cuts have also boosted household income (Sperling, 2008, p. 80). However, because the wages are still low, the savings are still low. Additionally, the declining mortgage rates have provided more resources for improved consumption. In other indust rialized nations such as European countries and Japan, various measures have been undertaken to protect the local economies from external shocks. In Europe, effective use of macroeconomic policies ensures the stability of disposable income and prevents external shocks. Additionally, European bloc has implemented a fiscal plan that aims at maximizing the utilization of labor and capital. In Japan, the domestic investment and demand are low with the domestic demand growth rate being 1.2 per cent in the year 2000. Developing economies, on the other hand, remain relatively unaffected by the global economic downturn save for a decline in demand for their exports. Economic Strategies within the United States In the United States, increased monitoring and enforcement of high standards of transparency has been adopted. Because the financial sector is closely tied to the real U.S. economy, many policies implemented aim at improving the macroeconomic environment following the 2007 financial c risis. In 2007, financial institutions acted quickly to increase access to bank liquidity. By December, the same year, a Federal reserve was established to increase coordination between the main central banks within the United States. Moreover, to contain the crisis, the central banks embraced unconventional monetary policies particularly with regard to lending rates. In general, the U.S. strategic policies fundamentally revolve around two main priority areas: enhancing competition and ethical governance of financial markets and reviving economic growth on a long-term basis. Corporate reports of 2008 show that there is a decline in R D spending. A recent survey by the Aberdeen group established a decline in R D spending and a reduction in investments particularly on innovations (Visdwanathan, 2010, p. 2). According to the report, over fifty percent of companies indicated the use of business information systems in 2008.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The report further indicates that 78 percent of companies focus on managing demand as opposed to investing in innovation (Visdwanathan, 2010, p. 7). Normally, fewer manufacturing firms enter into the market during recession times. In response to this, the U.S. has provided a favorable environment for small and medium enterprises (SMEs) to fill this gap and create more employment opportunities. However, the output in small companies is much lower than in large firms. Consequently, the employee benefits are also low. Additionally, the U.S. has put in place a stimulus package to put the country back to sustainable economic growth. In particular, the stimulus package targets innovation and the improvement of potential innovations in the various sectors of the economy. In this way, job creation and entrepreneurship can be enhanced. Currently, the policies adopted aim at encouraging industrial renewal and removing obstacles to small-scale entrepreneurship. Mush efforts have been made to i ncrease SMEs access to credit through bank recapitalization and improvement of the loan schemes for SMEs. All these efforts aim at easing the liquidity constraints faced by small enterprises and thus encourage entrepreneurship. This will increase wealth, job creation in the long term, and help revive the economy. Conclusion The 2007 global downturn caused unprecedented collapse of financial markets on a global scale including the U.S. financial markets. Additionally, the unemployment rates rose sharply following massive layoffs, as firms were not profitable during the recession period. A common trend in most countries is to revive the small-scale enterprises. In the United States, various strategies adopted include economic stimulus packages to stimulate innovation and removal of the liquidity constraints that SMEs face and increase access to credit. In recession period, the large firms particularly manufacturing firms scale down their operations. However, small enterprises that the U.S. economic strategies target have the potential of creating new jobs to curb the high unemployment rates. Reference List Fernald, J. (1999). Roads to Prosperity? Assessing the Link between Public Capital and Prosperity. American Economic Review, 89 (3), 771−783. Koven, S., Lyons, T. (2010). Economic Development: Strategies for State and  Local Practice. London: International City. Moretti, E. (2004).Workers’ Education, Spillovers, and Productivity: Evidence From Plant-Level Production Functions. American Economic Review, 94 (3), 117−121. Sperling, G. (2008). The Pro−Growth Progressive: An Economic Strategy for  Shared Prosperity. New York: Simon Schuster. Visdwanathan, N. (2010). Sales and Operations Planning: Strategies For Managing Complexity within Global Supply Chains. Aberdeen Group, 2−7.

Ethics and governance Essay Example | Topics and Well Written Essays - 2000 words

Ethics and governance - Essay Example The action by the Safety and Hazard Investigation Board (CSB) to investigate BP was to audit its safety standards. Hence, this decision was based on the oil fire incidence at BP which killed 15 of its workers and injured 170 others as well. This is due to the fact that the company had ignored this issue for a long time. The report notes that this company was plagued by years-of cost cutting which in turn increased its vulnerability to this catastrophe in its refinery in Texas. The other actor in this case is BP Company itself through its management and workers; in which case its decision was based on the need to improve its image in the oil market according to Mortishead, (2005, p. 8). From the above BP’s case, there are a range of possible consequences based on the reports findings. One such possible consequence is the remarkable improvement in the compliance to safety standards by BP and other companies as well. In so doing, these oil firms would have to embrace the tenets of ethics and governance. In this regard, they shall have to implement fundamental organizational changes to ensure for them to be virtuous. The other actual consequence is the loss of market leadership position by BP to its competitors. According to the CSB report, the company had been noted to be more concerned with profit maximization through cost cutting at the expense of ensuring that its employees were safe. As noted by Carl, BP’s main concerns were in terms of meeting its production targets, budgets and operational goals but not safety. This is best captured by the management’s decision to opt to cut- costs with the main emphasis being on saving of such costs for ot her uses. To the other companies, this action by CSB would result to them being under both public and government over safety compliance. One of the key decisions which are culpable in BP’s case can be

Strategic management Assignment Example | Topics and Well Written Essays - 2000 words

Strategic management - Assignment Example Corporate strategy is basically about finding ways to generate value when different lines of business under the same company pool their resources. How can diversifying the corporate operations or launching into a new line of business assist the company in competing with other businesses? Diversification Strategy Diversification strategies are employed to develop a company’s operations by adding products, markets, production stages or services to the existing business. The aim of corporate diversification is to permit the business to participate in lines of business that are not the same as those in their current operations. Concentric diversification is descriptive of when the new business is strategically connected to the present lines of business. Conglomerate diversification, on the other hand, is descriptive of the situation when there is no familiarity or link between the old and new lines of business. Development strategies usually result in a considerable increase in ma rket share or sales objectives past previous levels of organizational performance (Gerami 2010). Many business establishments pursue different growth strategies on a regular basis. One of the main reasons for this is the fact that most business executives consider that greater investment will result in even bigger results. Increases in sales are frequently used as a measure for organizational performance. Even if the business profits stay constant or start to decrease, sales increases usually satisfy many organizational representatives. The presumption is usually made among corporate executives that increases in sales sooner or later result in large profits. Vertical diversification Diversification strategies are usually categorized according to the direction that the diversification takes (Cameron and Quinn 2011). Vertical integration is descriptive of when corporations take on new business functions at diverse stages of the manufacturing process. Participation in the different lev els of production can be initiated by procuring a different company (external diversification), or within the corporation (internal diversification). In the horizontal variety of diversification, or integration, the corporation basically moves into new corporate operations at the same level of manufacture. Vertical integration is normally associated with existing business functions and is perceived as being a form of concentric diversification. Horizontal integration, on the other hand, is presumed to be a conglomerate or concentric variety of diversification. Vertical Integration The steps that a manufactured commodity passes through in the process of being changed from being a raw material to being a finished product ready for use by the consumer make up the assorted stages of manufacture (Lumby and Jones 2004). When a corporation diversifies when on a level where it is closer to the level where raw materials are handled in the production stages, it is said to be taking the route of the strategy of backward vertical integration. Avon is an example of a company that deals in cosmetics. It's main line of business has been in presenting its products to customers on a door-to-door basis (Robertson and Caldart 2009). Some years ago, Avon decided to change its strategy. It basically followed a backward type of vertical integration when it started experimenting with different substances and

English Lit Essay Example | Topics and Well Written Essays - 3500 words

English Lit - Essay Example This is true to some extent, but again it cannot be generalized. This thesis statement can be more closely introspected if we give a thorough gaze and reviewing glance to the two great American autobiographies of the contemporary times. The two books taken into consideration are â€Å"The Autobiography of Malcolm X† by Malcolm X published in the year 1965 and â€Å"I Know Why the Caged Bird Sings† by Maya Angelou published in the year 1969. â€Å"The Autobiography of Malcolm X† cannot be granted as an Autobiography in its truest sense as it was written by Alex Haley during the years 1964 and 1965. According to Haley, the book was written on the basis of the interview conducted by Haley with the great historical figure Malcolm X and the interview was conducted shortly before his death. The book was published in the year 1965 with an epilogue just after the death of Malcolm. Here lies the greatest controversy on the fact and fiction. Times Magazine claims â€Å"The Autobiography of Malcolm X† as â€Å"one of the most important nonfiction books of the 20th century† (Gray, 1998). But an autobiography should depend on the testimony and not on documentation. Haley himself admitted in his documentary â€Å"Eyes on the Prize† about the difficulty of recording the life and experience of Malcolm X as he was averse to talking about personal issues and was more keen on discussing about the â€Å"Nation of Islam† (American Experience, n.d.). Again, in a more controversial document, historian Manning Marable claimed that just before writing the book, Haley had collaborated with FBI to produce misleading criticism on Malcolm and his Nation of Islam. This is again a possibility for the distraction of truth and will always remain open for controversies and criticism (Democracy Now!, 2005). â€Å"The Autobiography of Malcolm X† encapsulates the upbringing of Malcolm in Michigan and his experience of adulthood to the quest of maturity in the city of Boston and New York.

Emerging retail formats in india

Emerging retail formats in india Retailing has been defined as business activities involved in selling goods and services to consumers for their personal, family or household use (Berman and Evans, 2001). Although retailing has been around for millennia, the 20th century witnessed a lot of change in the retail sector, especially in the developed countries. Modern formats such as department stores, discount stores, supermarkets, convenience stores, fast food outlets, speciality stores, warehouse retailers and hypermarkets have emerged. Retailing has become more organized and chain stores have been growing at the expense of independent shops. The chains are utilizing sophisticated information technology and communication to manage their operations and have grown rapidly not only within their home countries like US, UK, France, Germany and Holland but to other developed countries. Walmart Stores, the US retailer, was recognized as the largest firm in terms of sales in 2002 in Fortune magazines list of 500 largest globa l firms. Modern retail formats have also spread beyond developed countries and are becoming more important in the NICs and developing countries. 3 The emergence of new formats and the evolution of modern retail in India has attracted attention in recent years. The business press in India has carried several articles and news items in the last three years about the modern formats (Shukla 2001; Anand Rajshekhar, 2001; Bhattacharjee, 2001). The consulting firm KSA Technopak has organized retail meetings or summits in major metros which have witnessed participation from major domestic and international retailers, and also from manufacturers. Venugopal (2001), has discussed the census studies of retail outlets that the market research firm ORG MARG conducted in the 1990s. This census provided data and estimates on a number of parameters relating to Indian retail such as number and type of outlets and growth of outlets over time separately for urban and rural areas. Due to these reports and activities, there is good deal of information available about what is happening in Indian retail. However Indian retailing has received sparse a ttention by way of academic research with the exception of a few articles in academic journals and some case studies. Purpose of the study. The purpose of this report is to develop an understanding of the factors influencing the evolution of modern formats in Indian retailing Objective of the study The report investigates modern retail developments and growth of modern formats in this country. The challenges and opportunities available to the retailers to succeed in this country. Literature review: Indian retailing is undergoing a process of evolution and is poised to undergo dramatic transformation. The retail sector employs over 8% of the national workforce but is characterized by a high degree of fragmentation with over 5 million outlets, 96% of whom are very small with an area of less than 50 m2 (Aggarwal, 2000). The retail universe more than doubled between 1978 and 1996 and the number of outlets per 1000 people at an All India level, increased from 3.7 in 1978 to 5.6 in 1996. For the urban sector alone, the shop density increased from 4 per 1000 people in 1978 to 7.6 per 1000 people in 1996 (Venugopal, 2001). Because of their small size, Indian retailers have very little bargaining power with manufacturers and perform only a few of the flows in marketing channels unlike in the case of retailers in developed countries, ( Sarma , 2000). The corner grocer or the kirana store is a key element in the retail in India due to the housewifes unwillingness to go long distances for purchasing daily needs. An empirical study was carried out by Sinha et al ( 2002) to identify factors that influenced consumers choice of a store. Although convenience and merchandise were the two most important reasons for choosing a store, the choice criteria varied across product categories. Convenience was indicated by consumers as the most important reason in the choice of groceries and fruit outlets, chemists and lifestyle items while merchandise was indicated as the most important in durables, books and apparel. The traditional formats like hawkers, grocers and paan shops co exist with modern formats like supermarkets, and non store retailing channels such as multi level marketing and teleshopping. Example of modern formats include department stores like Akbarallys , supermarkets like Food World, franchise stores like Van Heusen and Lee, discount stores like Subhiksha, shop-in-shops, factory outlets and service retailers ( Nathan , 2001). Modern stores tend to be larger, carry more stock keeping units have a self service format and an experiential ambience. Modern formats also tend to have higher levels of sales per unit of space, stock turnover and gross margin but lower levels of net margin as compared to traditional formats (Radhakrishnan, 2003). Modernisation in retail formats is likely to happen quicker in categories like Dry groceries, electronics, Mens apparel, Books, Music. Some reshaping and adaptation my also happen in Fresh groceries, Womens apparel, fast food, and personal care p roducts (Fernandes et al, 2000). In recent years, there has been a slow spread of retail chains in some formats like supermarkets, department stores, malls and discount stores. Factors facilitating the spread of chains are the availability of quality products at lower prices, improved shopping standards, convenient shopping and display, and blending of shopping withentertainment, and the entry of industrial houses like Goenkas, Rahejas, Piramals and Tatas into retailing ( Ramaswamy and Namakumari, 2002). However formats are not easily scalable across the country. Several companies have found that it is not easy to expand beyond some regions and cities as evident from the examples of Margin Free Market and Foodworld, which are active only in a few states or cities. Affordable real estate prices and availability of sufficient number of economically well off households in the catchment area are critical requirements that will determine new store viability and thus the possibility of further expansion (Anand and Rajashekhar, 2001). According to Rao (2001), foreign direct investment in the retail sector in India, although not yet permitted by government, is desirable, as it would improve productivity and increase competitiveness. New stores will introduce efficiency. Customers also gain as prices in the new stores tend to be lower. The consequences of modernization in India may be somewhat different due to lower purchasing power and the new stores may cater to only to branded products aimed at upper income segments. However it will be wise for old style stores to join together into wholesale and retail groups to improve bargaining power as experience in developed markets such as UK has shown that the modernization in retail has led to the decline of independent mom and pop stores. The need for a fresh perspective while developing theories to explain the new developments has been stressed by Bennett et al (1998). The Indian retail environment is witnessing several changes on the demand side due to increased per capita income, changing lifestyle and increased product availability. Experience of retailing in US shows that existing theories of retail development based on changing consumer needs, are inadequate to explain new developments. In developed markets, there has been a power shift with power moving from manufacturers towards retailers. The strategies used by retailers to wrest power include the development of retailers own brands, and the introduction of slotting allowances which necessitate payments by manufacturers to retailers for providing shelf space for new products. Retailers have also used technology effectively to obtain usable information about consumer buying patterns. The increased power of retailers has led to the introduction of new tactics b y manufacturers such as everyday low pricing, partnerships with retailers and increased use of direct marketing methods. Because of these issues, a supply side perspective needs to be fused with the demand side in developing theories for explaining modernization in retail. Research design: In order to fulfill the objectives of the study primary as well as secondary data have been collected to analyze the trends in modern retail formats meticulously. To analyze the emerging trends in shoppers behavior 30 shop keepers from 6 Malls operating in Ahmedabad will be interviewed. And for the rest part of the country secondary data published by different research institutions like TSMG, CSSO, Future Group, NCAER etc have been considered to draw the key inferences.

Analysis Of Sea Fever By John Masefield :: essays research papers

John Masefield's poem "Sea Fever" is a work of art that brings beauty to the English language through its use of rhythm, imagery and many complex figures of speech. The meter in "Sea Fever" follows the movement of the tall ship in rough water through its use of iambs and hard hitting spondees. Although written primarily in iambic meter, the meter in "Sea Fever" varies throughout the poem. The imagery in "Sea Fever" suggests an adventurous ocean that appeals to all five senses. Along with an adventurous ocean, "Sea Fever" also sets a mood of freedom through imagery of traveling gypsies. Perhaps, the most complex part of this poem is the use of personification and metaphor. These figures of speech go beyond the meter and imagery to compare life to a sea voyage and portray a strong longing for the sea. The two main themes of "Sea Fever" bring the reader closer to the sea and help the reader understand why the speaker must return to the sea. "Sea Fever" not only depicts a strong longing for the sea through its theme, but also through use of complex figures of speech, imagery, and meter. "Sea Fever" is an excellent example of varied meter which follows the actions of a tall ship through high seas and strong wind. Lines one and two contain the common iambic meter found throughout the poem. "Sea Fever" may be categorized as a sea chantey due to its iambic meter and natural rhythm which gives it a song like quality. This song like quality is created through the use of iambic meter and alliteration. For example, lines three and ten contain the repeated consonant sound of the letter "w". In line three, the meter becomes spondaic through the use of strongly stressed syllables. These spondees suggest the repeated slapping of waves against the bow of the ship. As a result, John Masefield creates an image of powerful ocean swells. In addition to the meter suggesting the repeated slap of the waves, "the wheel's kick" is a reference to the ship's steering wheel spinning out of control. To further support the theory of the waves slapping against the bow, "The wheels kick" suggests that the tall ship is traversing very storm seas. Through the combining of iambic and spondaic meter, "Sea Fever" not only gains a magnificent rhythm, but gives clues into the location and movement of the tall