Marketing Essay Example | Topics and Well Written Essays - 2500 words - 21

Marketing - Essay Example In choosing a car, various decisions have been made as the customer progresses from one phase to the next. In pre-purchase for example, after the consumer has recognized a need in the form of a problem or an opportunity, the choice of where to look for information as regards the available alternatives to address the problem or opportunity is one of the decisions to be made. The choice of how much time and effort, i.e. her level of involvement in the decision, is also one of the decisions that she would make. She may look for information in the Internet, or she may decide to visit a car dealer to inquire about the product. After the consumer gathers enough information as regards her choices for the car models, the consumer will have to decide on what attributes she gives much emphasis, which will eventually constitute her criteria for the purchase decision. After she has determined her choice of brand,.she has to deal with smaller decisions such as the model of the car she would get, and the specifications. Sometimes, the choice of financing is part of the decision process, and could influence the purchase of one brand over the other. After she has made her choice based on her set of criteria, the next decision she has to make is how to place her order, i.e. the distribution channel. She can either choose to go to a nearby dealer, or place her order in the Internet if her chosen brands website has such an option available. The consumers last decision as regards the buying process would be an action that is prompted by her evaluation of the product. Her last decision will depend on the level of satisfaction or dissatisfaction concerning her purchase, i.e. advocacy, positive feedback, no action, positive feedback, or lawsuit for extreme cases. C. What kinds of benefits marketing managers get from the study of consumer behavior? In other words, identify any kinds of managerial implications which will be helpful for designing marketing strategies or

Critique Assignment Example | Topics and Well Written Essays - 500 words

Critique - Assignment Example , (2011), in order to effectively determine the NBO, it is important to collect personal data about the customers from their names, sizes, physical address, phone numbers, occupation, salary range, number of children, ages of the children and of the customer among many others. All these can be collected from their social media and personal data on file in the online stores and then use the same to predict their purchase context and pricing range of their shopping and products. A perfect example provided in the article is where a person purchasing diapers can have an NBO of wipes, powder, beer among others all of which accompany the baby products which the person is in need of without realizing it. In order to know the customer even before they make the purchase of the items, it is important to examine their buyer behavior first a few times in order to get a grip about what they like to purchase, in what quality and quantity, their favorite or preferred brand and the duration between one purchase and the next (Kotler & Armstrong, 2015). All these is important to predict the buyer behavior and hence be in a position to offer then an NBO the next time they are online just as a way to not only advertise the products but tempt them on what else they might need. Once enough personal data has been gathered about a shopper, the next step is to execute the advertisement and promotion. The person may start receiving the NBOs in their emails; receiving phone calls about the same, notifications in their social media accounts among other online places they frequently visit (Davenport, Mule & Lucker, 2011). All these are in an attempt to make them purchase more than what they need or have planned for or make them aware of new product in the market, new prices and even new promotional offers (Kotler & Armstrong, 2015). In order to make it even more interesting and tempting, numerous discounts and advantages such as reward points can be provided which can then be redeemed in

Career management in business Essay Example | Topics and Well Written Essays - 750 words

Career management in business - Essay Example These consequently affect the performance of an organization. These contracts are in a moment of transition. In this way, organizational relationships are turning into transactional contracts. In transitional contract, security of assets is ensured by creating safe returns from uncertain returns. There are examples of these contracts which include intermediaries offer insurance to their customers. Others include commercial paper markets working together with intermediaries likened to money market mutual funds. These changes in relationships have interfered with labour market within organization. Understanding intrapersonal and interpersonal relationships in organizations affects the means through which career management can be understood. It will influence individual career management and organizational career management (Kase and Zupan, 2007, 16-17; Gorton and Pennachi, 1988, 1-3). According to Adekola (2011, p100), a career is a lifelong process that constitute of a pattern of unde rtakings and related perspectives or conducts that happen in the life of a person as long as they are working. It is also perceived as a sequence of experiences during work, such as work related decisions; job positions, duties, and work related events as interpreted subjectively by individuals, for example, values, aspirations, things hope for, needs and feelings work that prevail within the time an individual is working. The plan and execution of organizational processes that facilitate the careers to be intended and controlled in a way that satisfies completely both the what a person prefers as per their capabilities and they are also designed to meet requirement of an organization (Yahya, Othman and Meruda 2004, p75). With the changing nature of work, it has become important for individuals and organisations to manage their careers. This is because every individual is expected to produce results that are meeting the needs of the organization. The realisation that effective usage of skills and knowledge can cause a great improvement in performance has caused many people and organisations to device ways to manage human capital. Career management is a continuous process that involves preparation, development, implementation, and tracking career plans and means to achieve career goals. Career management can be done by an individual or by an organisation. Individual Career Management (ICM) is done personally and it involves data collection about how to solve emerging challenges of the work and plans to develop their career. In this kind of career management, a person is responsible for decision making affecting their career development (Dargham, 2011, p4). Organizational Career Management implies effort an organisation put to improve the quality of life of an individual who is an employee. It involves policies, activities and programmes that are put in place to ensure that an organisation or employers facilitate the development strategies and designs of their e mployees’ careers (Adekola, 2011, p102). Career management requires analysis of the changing trends of jobs and careers in the present time. Both the organization and individual should carry out an analysis of the strengths and weaknesses they have so that they can focus on development (GMP, Not dated, p1-3). In the past, organizations could ensure job security even with changing environment. In the current days because of the competitive nature of the external market,

Sir Richard Bramson and the Virgin Group of Companies Essay

Sir Richard Bramson and the Virgin Group of Companies - Essay Example The success of his prestigious group of companies is a confirmation of his ability to apply the necessary management skills and strategies required for successful businesses. Sir Richard Branson had no initial intentions of becoming an entrepreneur although this did not prevent him from building his status as one of the most successful entrepreneurs globally. Having launched a student magazine at the age of sixteen and managed a student advisory centre, Branson had a background in business establishment and management i.e. habitual entrepreneur (Branson, 2011; Shavinina, 2008: 9-15). However, the success and expansion of the Virgin Group led to incorporation of other business ventures making him a portfolio entrepreneur. Some of the personal entrepreneurial characteristics that have enabled Branson to emerge as an exemplary entrepreneur include his high level of motivation, high levels of self confidence, abundant energy levels and the ability to sustain the entrepreneurial approache s in long term (Branson, 2011). Additionally, he has exhibited his worth as a risk-taker, the ability to set achievable goals, innovation and a problem solver (Bolton and Thompson, 2000). He variably contributed to the entrepreneurial sector through the establishment of a brand image and identity of the Virgin Company in the global markets. The company’s marketing strategies prioritises on the customers; improving loyalty. His management skills have led to the growth of the company to international standards. The employee commitment that the company exhibits indicates that Sir Richard Branson possesses effective employee management skills that keep employees always motivated. The dedicated and united employee team has utilised the business and marketing strategies associated with the business to constantly enable the business improve performance. Application of these strategies in all marketing segments has enhanced the application of innovation in all marketing segments. Ana lysis of the Virgin Group of companies exemplifies the entrepreneurial characteristics of Branson. Entrepreneurship can be defined as a process whereby individuals or group of individuals apply organised efforts in the pursuance of opportunities (Kuratko and Hodgetts, 2004). An entrepreneur should target to create value and growth through innovation and maintenance of uniqueness. This has been the main factors that have enabled Virgin Group of companies to be successful since its establishment. According to Shavinina (2008), the formation and management of the affiliate companies of the Virgin Group exhibits adherence to the entrepreneurial process. The initial stage of the process involves the exploration of the entrepreneurial context. For instance, the establishment of Virgin Airlines was Branson’s attempt to offer reasonable freight charges for transatlantic flights. The second stage involves identification of the possible opportunities that guarantees competitive advanta ge. The venture is then established once the opportunities are identified paving way to management once all its structures are in place. According to Carmichael (2006), Branson’s skills portrays him as a transformational entrepreneur due to his insistence on maintaining Virgin Group of companies as an organisation characterised by informality and

Legislative Proposal Essay Example | Topics and Well Written Essays - 2250 words

Legislative Proposal - Essay Example Contrary to the hardline opinion of the conservatives, we have the liberals who envision America as the land of opportunity, not just for American citizens but all of mankind. According to these liberals, America is a proverbial utopia of opportunity where virtually anyone can make it in life as long as they are willing to work hard for it (Daniels, p.71). Clearly, the topic of immigration is a divisive one. Over the past decade, immigration has morphed from a legislative topic to one of the mainstream issues being discussed on the streets by the local people. Irrespective of political affiliations and social standing, every American citizen seems to fall victim to this rather polarizing issue. It is as a result of this that there is need to formulate and put in place legislative work that is aimed at streamlining the issue of immigration (McLaughlin, p13-25). Not only keeping in mind that the interests of American citizens come first but also that the immigrants may play an instrumental role in building the economy of the united states. This paper focuses on immigration laws in the state of Virginia vis a vis the interest of the Americans living in Virginia but also the immigrants who are protected by international laws set forth by the United Nations. As in accordance with the 287(g) immigration and customs enforcement program famously known as ICE, law enforcement agencies in the state of Virginia liaise with each other. This liaison can be viewed in the form of a network of law enforcement agencies where these agencies share relevant information with each other pertaining the issue of immigration. This program gives the state police jurisdiction that was previously a reserve of the federal immigration agencies. This jurisdiction includes, but is not limited to, checking the immigration status of anyone who is stopped by the state police (Farnam, p23-30). A closer examination of this piece of legislation is

Critical Appraisal of Business Plan Process Towards the creation of a Essay

Critical Appraisal of Business Plan Process Towards the creation of a successful entrepreneurial venture - Essay Example Because it is contained in a tangible document, it is open to critical examination by important third parties such as possible co-investors, creditors, venture capitalists, or banks which may be considering extending a loan towards the business (BC Ministry of Small Business, 2011, p.2). Elements The business plan is comprised of several elements, which may be described as follows: Idea generation, while not a tangible part of the business plan proper, is a vital phase of the planning process. It is the germination of the business intention, the idea that combines a perceived need in the environment with a recognized capability in the business proponent. Idea generation is the most difficult stage of developing a new product or service, whether it be for a new or existing business (Crane, 2010, p. 104). This is because it involves the creative process and is not defined according to any established procedure, but often occurs as a flash of inspiration or unique insight as to how a pa rticular need may be fulfilled. When an idea is first generated, there is usually no indication as to whether it will be successful or even feasible, thus embarking on a course of action on the bases of new ideas always involves a great deal of conviction and a leap of faith. Strategic objectives are set subsequent to the generation of the idea. Strategic objectives provide the overall mission or purpose of the business (i.e., a â€Å"philosophical† purpose, according to Piotrowski, 2011, p. 174), as against the operational objectives. Strategic objectives relate to the definition of four elements of the business profile, namely products, customer groups, market segments, and geographic markets (Robert, 1998, p. 234). As with all statements of intention, however, the statement of strategic objectives is always couched in general terms that may admit of many varied interpretations. As a guide, therefore, the strategic objectives are at best advisory, but cannot be held as defi nitive as promises or commitments for which the business may be held answerable. Therefore, the effectiveness of strategic objectives will only be as meaningful as the best intentions of the business proponents may hold them to be. Market analysis and research is the process of gathering information about the prospective market of the business and drawing important insights and observations about future prospects. Information about the market’s size, its location, its history, the competitive profile, and likely profitability, as well as its general strength and health, are described and assessed. The information gathered during this stage provides the foundation for forecasting sales volumes and revenues, for determining the capacity of the business, and consequently the amount of financing required (Ehmke & Akridge, 2005, p.3). Market research analysis has its limitations. Ideally, accurate knowledge of markets is very important, but such knowledge does not serve to reduce knowledge of the business into a single solution that solves all possible problems. It is a myth that a business cannot fail if it completely knows its market; this is because the market is just one aspect of the business, the others being the financial, technical operations, accounting control, and human resources aspects (Brown, 2008, p. 464). Furthermore, the market has too many factors that could not be forecast with certainty, that any feeling of possessing complete knowledge of the market is a certain

A Retrospect of the Hong Kong Handover Essay Example for Free

A Retrospect of the Hong Kong Handover Essay Slide 2 Hong Kong’s handover to the Chinese government after 150 years of British colonial rule is a major historical event My paper analyzes whether or not China handled Hong Kong well 10 years after the Handover occurred. It also aims to look at the changes that have taken place since the Handover, and how they have affected the situation in Hong Kong. Important questions regarding this issue are:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   After 10 years, did China handle Hong Kong well?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Has China fulfilled its promise to maintain Hong Kongs status quo as a leader in Asian economy?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Have the policies and changes that the Handover has brought been beneficial to the people of Hong Kong? My position is that China did a good job in the sense that they did not do harm to Hong Kong and was able to preserve the liberal economic and political spirit of the place. My conclusions are based on the following parameters: One, the economic situation of the territory, and two, the political situation of the territory. Slide 3 Background of the Issue Why was the Handover a source of anxiety to Hong Kong citizens?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Hong Kong way of life is different than that of Mainland Chinas   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   China is under a Communist System while Hong Kong adopts a free market economy The Impact of the Hong Kong handover can be brought to light with the following facts: Geography Hong Kong is a small piece of coastal island below Mainland China. Its strategic location made it an important port for the trading of goods and is regarded as an ideal base for military and tactical operations. When it comes to its economy, Hong Kong is a force to contend with. Hong Kong: Is one the modern world’s most important financial hubs Enjoys one of the world’s highest gross domestic products Provides jobs to millions in Mainland China as well as in neighboring countries Slide 4 Aftermath of the Handover Accounts of life in Hong Kong right after the Handover were promising. Generally, it was â€Å"life as usual†. The general consensus is that the Handover did not cause the major political and economic upheavals that many feared it would. While there was a slowing down in the economy, it was not at the level expected. The changes were milder and subtler than expected The reaction of the business community to the Handover reflects the reaction of the locals: Businesses were able to ride the change without much difficulty. Multinational companies based in Hong Kong have been loyal, and were able to transcend political upheavals. Slide 5 The most important policies implemented after the Handover included â€Å"One country, two policies† and â€Å"Hong Kong people administering Hong Kong†. China also increased public spending and reduced tax. These policies have allowed Hong Kong’s Special Administrative Region (SAR) government a free hand to implement decisions with respect to Hong Kong’s political and economic environment. Such a moves also proved to be effective because it kept businesses in Hong Kong. Hong Kong’s Performance under China’s rule has been on the large part, successful. The following are evidence of China’s good handling of the Hong Kong Handover: Hong Kong was one of the least affected during the Asian economic depressions Hong Kong was one of the first to bounce back from the depression. Hong Kong survived the health problems of SARS, bird flu and mad cow disease.