Critically discuss the following statement What is marketing Easy its Essay

Basically talk about the accompanying explanation What is showcasing Easy its what advertisers do - Essay Example A progression of speculations has been step by step created meaning to help the change of showcasing as per the current market rules. Current paper centers around the assessment of the unique circumstance and the job of promoting inside the cutting edge advertise; the particular field is assessed utilizing important hypotheses †as distributed in the scholastic writing. Besides, endeavors are made so as to introduce and clarify the down to earth ramifications of promoting †as these ramifications are comprehended and taken care of by advertisers. It is inferred that the current types of advertising are hard to be completely investigated and assessed †being separated inside every business segment; in any case, the hypothetical clarifications on promoting †as recognized through the significant writing †can assist with understanding the real job of showcasing in the cutting edge showcase yet additionally its possibilities for additional change later on. 2. Adverti sing †Description and capacities 2.1 The setting of showcasing - definitions One of the key qualities of promoting is its capacity to be changed being lined up with the market patterns and requests. At first, advertising was an order fairly unfamiliar to scholarly investigation; it had been somewhat considered as a progression of practices utilized by experts who manage the advancement of items/benefits inside a pre-organized market (otherwise called target showcase); the above issue is featured in the investigation of Baker et al. (1998) who noticed that showcasing step by step entered the scholarly field of information; be that as it may, in spite of the way that a wide scope of studies has been created as to the substance and the job of market, still there are huge numbers of its viewpoints that are not satisfactory (Baker et al 1998). Most likely the explanation is that the progressions of the market are excessively brisk and broad, marketing’s rules and structures a re changed - so as to be lined up with these changes - yet there is no satisfactory time for the periods of this change to be checked and assessed. From a comparable perspective Viardot (2004) noticed that the unique circumstance and the job of advertising can be separated when entering a specific division; reference is made, for instance, to the term ‘marketing for cutting edge firms’ (Viardot 2004, 1); it is proposed by Viardot (2004) that showcasing is depicted as follows: ‘putting on the market’ (Viardot 2004, 2) †a portrayal which presents the down to earth utilization of promoting as a scope of errands concentrating on the accomplishment of a specific objective. Pastry specialist et al. (2007) utilize a comparable methodology; they note that advertising is still in a time of progress from ‘a unadulterated expert practice to a movement clarified through proper hypothetical models’ (Baker et al 2007, 3). Kotler et al. (2010) give an al ternate, increasingly diagnostic, depiction of promoting; as per the above specialists, advertising is ‘the procedure of building gainful client connections by making an incentive for clients and catching an incentive in return’ (Kotler 2010, 53). In the above portrayal showcasing is introduced as being firmly identified with clients; along these lines, the principle need of advertisers is set: advertisers should concentrate on the improvement of the connection between the items/administrations

The Double Ten Day Holiday in China

The Double Ten Day Holiday in China Twofold Ten Day (é›™å  Ã§ ¯â‚¬) is commended yearly on October 10. Twofold Ten Day is the commemoration of the Wuchang Uprising (æ ­ ¦Ã¦ËœÅ"è µ ·Ã§ ¾ ©), a revolt that prompted a revelation of freedom from the focal government by Wuchang and a few different regions in China in 1911. The Wuchang Uprising prompted the Xinhai Revolution (è ¾â€ºÃ¤ º ¥Ã©  ©Ã¥' ½) in which progressive powers toppled the Qing Dynasty, finishing over 2,000 years of dynastic principle in China and introducing the Republican Era (1911 to 1949). The progressives were annoyed with government debasement, the infringement of outside nations into China, and hatred over Manchu rule over Han Chinese. The Xinhai Revolution finished with Emperor Puyi being removed from the Forbidden City in 1912. The Xinhai Revolution prompted the foundation of the Republic of China (ROC) in January 1912. After World War II, The ROC government lost control of the Chinese territory to the Chinese Communist Party in the Chinese Civil War (1946 to 1950). In 1949, the ROC government withdrew to Taiwan, where its constitution has stayed in power to the current day. Who Celebrates Double Ten Day About all Taiwanese have the vacation day from chip away at Double Ten Day in Taiwan. In territory China, Double Ten Day is alluded to as the Anniversary of the Wuchang Uprising (æ ­ ¦Ã¦ËœÅ"è µ ·Ã¤ ¹â€°Ã§ º ªÃ¥ ¿ µÃ¦â€" ¥) and dedication festivities are frequently held. In Hong Kong, little processions and festivities are held however they have not been as rich since the exchange of Hong Kong’s power from the United Kingdom to China on July 1, 1997. Abroad Chinese living in urban communities with enormous Chinatowns likewise have Double Ten Day marches. How People Celebrate Double Ten Day in Taiwan In Taiwan, Double Ten Day starts with a banner bringing function up before the Presidential Building. After the banner is raised, the National Anthem of the Republic of China is sung. A procession from the Presidential Building to the Sun Yat-sen Memorial is held. The motorcade used to be a military procession however now government and community associations are incorporated. A short time later, Taiwan’s president gives a discourse. The day finishes up with firecrackers.

Blog Archive Professor Profiles Sankaran Venkataraman, UVAs Darden School of Business

Blog Archive Professor Profiles Sankaran Venkataraman, UVA’s Darden School of Business Many MBA applicants feel that they are purchasing a brand when they choose a business school. However, the educational experience you will have is what is crucial to your future, and no one will affect your education more than your professors. Today, we focus on  Sankaran Venkataraman  from the University of Virginia Darden School of Business. Sankaran Venkataramanâ€"who is known around the campus of the University of Virginia’s (UVA’s) Darden School of Business as simply “Venkat”â€"is an internationally recognized expert on entrepreneurship. He is the MasterCard Professor of Business Administration at Darden and the senior associate dean for faculty and research. He has edited the  Journal  of Business Venturing  and consulted with the U.S. Department of Commerce on promoting entrepreneurship globally. He is also a coauthor of  The Innovation Journey  (Oxford University Press, 2008) and coeditor of  Entrepreneurship in Emerging Regions Around the World:  Theory, Evidence and Implications  (Edward Elgar Publishing, 2008). Venkat earned one of Darden’s awards for outstanding faculty in 2008 and is generally considered one of the school’s most popular professors. In 2010, Venkat earned the Academy of Management’s Decade Award for a paper published ten years earlier that was judged to have had the greatest impac t on scholarship in the fields of management and organizations. For more information about UVA Darden and 15 other top-ranked business schools, check out the  mbaMission Insider’s Guides. Share ThisTweet Professor Profiles University of Virginia (Darden) Blog Archive Professor Profiles Sankaran Venkataraman, UVA’s Darden School of Business Many MBA applicants feel that they are purchasing a brand when they choose a business school. However, the educational experience you will have is what is crucial to your future, and no one will affect your education more than your professors. Today, we focus on  Sankaran Venkataraman  from the University of Virginia Darden School of Business. Sankaran Venkataramanâ€"who is known around the campus of the University of Virginia’s (UVA’s) Darden School of Business as simply “Venkat”â€"is an internationally recognized expert on entrepreneurship. He is the MasterCard Professor of Business Administration at Darden and the senior associate dean for faculty and research. He has edited the  Journal  of Business Venturing  and consulted with the U.S. Department of Commerce on promoting entrepreneurship globally. He is also a coauthor of  The Innovation Journey  (Oxford University Press, 2008) and coeditor of  Entrepreneurship in Emerging Regions Around the World:  Theory, Evidence and Implications  (Edward Elgar Publishing, 2008). Venkat earned one of Darden’s awards for outstanding faculty in 2008 and is generally considered one of the school’s most popular professors. In 2010, Venkat earned the Academy of Management’s Decade Award for a paper published ten years earlier that was judged to have had the greatest impac t on scholarship in the fields of management and organizations. For more information about UVA Darden and 16 other top-ranked business schools, check out the free  mbaMission Insider’s Guides. Share ThisTweet Professor Profiles University of Virginia (Darden) Blog Archive Professor Profiles Sankaran Venkataraman, UVA’s Darden School of Business Many MBA applicants feel that they are purchasing a brand when they choose a school, but the educational experience at the business school is crucial to your future, and no one will affect your education more than your professors. Each Wednesday, we profile a standout professor as identified by students. Today, we focus on Sankaran Venkataraman from the University of Virginia’s (UVAs) Darden School of Business Administration. Sankaran Venkataraman (“Strategy,” “Entrepreneurship”), known around the UVA Darden campus as simply “Venkat,” is an internationally recognized expert on entrepreneurship. He is the MasterCard Professor of Business Administration at the school and the research director for entrepreneurship at the Batten Institute. He edits the Journal of Business Venturing and consults to the U.S. Department of Commerce on promoting entrepreneurship globally. He is also a coauthor of The Innovation Journey (Oxford University Press, 2008) and coeditor of Entrepreneurship in Emerging Regions Around the World: Theory, Evidence and Implications (Edward Elgar Publishing, 2008). Venkat earned one of Darden’s awards for most outstanding faculty in 2008 and is generally considered one of the school’s most popular professors. In January 2010, Venkat earned the Academy of Management’s Decade Award for the paper published ten years earlier that has had the greatest impact on scholarship in the fields of management and organizations. A second-year student we interviewed described Venkat as “very analytical, very smart and teaching on the top edge of marketing analytics.” Added a recent alumnus, “He will help much more than you would expect a professor to help.” Another alumnus with whom we spoke recounted meeting Venkat at an Indian Affairs party only a few weeks into his first year: “He [Venkat] quickly realized that I did not know who he was and told me that he was a student in another section. I led him around, introducing him to other new students until I eventually realized that he was pulling my leg.” For more information about Darden and 14 other top-ranked business schools, check out the mbaMission Insider’s Guides. Share ThisTweet Professor Profiles University of Virginia (Darden) Blog Archive Professor Profiles Sankaran Venkataraman, UVA’s Darden School of Business Many MBA applicants feel that they are purchasing a brand when they choose a business school. However, the educational experience you will have is what is crucial to your future, and no one will affect your education more than your professors. Today, we focus on  Sankaran Venkataraman  from the University of Virginia Darden School of Business. Sankaran Venkataramanâ€"who is known around the campus of the University of Virginia’s (UVA’s) Darden School of Business as simply “Venkat”â€"is an internationally recognized expert on entrepreneurship. He is the MasterCard Professor of Business Administration at Darden and the senior associate dean for faculty and research. He has edited the  Journal  of Business Venturing  and consulted with the U.S. Department of Commerce on promoting entrepreneurship globally. He is also a coauthor of  The Innovation Journey  (Oxford University Press, 2008) and coeditor of  Entrepreneurship in Emerging Regions Around the World:  Theory, Evidence and Implications  (Edward Elgar Publishing, 2008). Venkat earned one of Darden’s awards for outstanding faculty in 2008 and is generally considered one of the school’s most popular professors. In 2010, Venkat earned the Academy of Management’s Decade Award for a paper published ten years earlier that was judged to have had the greatest impac t on scholarship in the fields of management and organizations. For more information about UVA Darden and 16 other top-ranked business schools, check out the free  mbaMission Insider’s Guides. Share ThisTweet Professor Profiles University of Virginia (Darden)

The Financial Performance of Low-Cost and Full-Service...

The Financial Performance of Low-Cost and Full-Service Airlines in Times of Crisis Triant Flouris, Thomas John Walker. Canadian Journal of Administrative Sciences. Halifax: Mar 2005. Vol. 22, Iss. 1; pg. 3, 18 pgs Abstract This paper examines the stock and accounting performance of three major airlines in the United States in the aftermath of the September 11, 2001, terrorist attacks. September 11 (9/11) resulted in dramatic changes in the airline industry and had significant implications for the economic gains and future prospects of most airlines. Our study focuses on the stock markets perception of the viability of low-cost versus full-service business models in the aftermath of 9/11. We choose Southwest Airlines as a typical†¦show more content†¦Lawton (2003) advances the argument that low-cost carriers (LCCs) were in a position to go on the offensive and aggressively exploit the changed industry climate after 9/11 by renegotiating labour contracts, by negotiating lower prices for new airplanes in what had suddenly become a buyers market for new aircraft, and by pursuing aggressive pricing strategies to increase their market share relative to legacy carriers. Legacy carriers, being exposed to a significantly higher overhead burden, were forced into defensive strategies that provided them with little operational flexibility. These developments are difficult to observe in the airlines accounting figures in the short term, but if they are perceived to change a firms future cash flows they should be reflected in the markets valuation of the firms stock. When investigating the impact that the events of 9/11 had on each airlines risk, we consider both the systematic and unsystematic volatility of the stocks returns. This allows us to differentiate between risk factors that affected the market as a whole and risk factors that affected the firms specifically. Although we employ only a small sample, our results are highly consistent.2 We observe that Southwest performed significantly better after 9/11 than its mainstream competitorsShow MoreRelatedGlobal Low-Cost Airline Market To 2018802 Words   |  4 Pagesrevenue of global low-cost airlines market covering 40 countries. Detailed regionwise (Americas, Asia-Pacific, Europe, Middle East Africa) analysis of low-cost airlines key performance indicators such as the number of seats available and seats sold, load factor, average revenue per passenger, total revenues, revenue generating passenger kilometers and passenger kilometers available for the review (2009-2013) and forecast (2014-2018) periods. Brief analysis of global low-cost airlines market and theRead MoreFactors That Affect On Airlines1605 Words   |  7 PagesFactors Outcome Impact on Airlines Rise in crude oil prices Increases the price Aviation Turbine Fuel (ATF) used in the Aircrafts †¢ Increase in fuel prices leads to low demand †¢ If fuel costs are fixed, then it can be leveraged to increase profits FDI in Aviation Industry of India †¢ New Entrants (Joint Ventures) †¢ Mergers with big International Airlines †¢ Increases operational performance Increases competition in LCC’s and FSC’s economy class †¢ Price War †¢ Decreases operating costs Increase in fares inRead MoreThe Cause of Financial Distress in Airlines Industry Introduction According to International Air1400 Words   |  6 PagesThe Cause of Financial Distress in Airlines Industry Introduction According to International Air Transport Association (IATA), global airline industry has a history of 100 years (2014). Today, there were more than 3 billion passengers and 50 million tonnes of cargo reach their destination through the wonder of flight every year, supporting over 57 million jobs and $2.2 trillion in economic activity (IATA, 2014). The airline industry plays a crucial role in economic because it helps in opening upRead MoreAir Asia1129 Words   |  5 PagesNATURE OF BUSINESS Air Asia leading airline was established with the dream of making flying possible for everyone. Since 2001, Air Asia has swiftly broken travel norms around the globe and has risen to become the world’s best. With a route network that spans through to over 20 countries, Air Asia continues to pave the way for low-cost aviation through our innovative solutions, efficient processes and a passionate approach to business. Together with our associate companies, Air Asia X, Thai AirRead MoreAir Asia1116 Words   |  5 PagesNATURE OF BUSINESS Air Asia leading airline was established with the dream of making flying possible for everyone. Since 2001, Air Asia has swiftly broken travel norms around the globe and has risen to become the world’s best. With a route network that spans through to over 20 countries, Air Asia continues to pave the way for low-cost aviation through our innovative solutions, efficient processes and a passionate approach to business. Together with our associate companies, Air Asia X, Thai Air AsiaRead MoreBritish Airwayss Environment1605 Words   |  7 Pages1.0 Introduction British Airways (BA) is the UK’s largest international scheduled airline, operating international and domestic scheduled and charter air services for the carriage of passengers, freight and mail and the provision of ancillary services. The airline flies to over 550 destinations globally and is considered to be a leader in the industry. In order to profitably satisfy customer needs, an organisation must understand its external and internal situation including the customer, theRead MoreStrategy - Ryanair1400 Words   |  6 Pagesitself into Europe s leading low cost airlines with 232 aircrafts flying to 153 destination. Ryan Air s strategic objective has been to offer the lowest possible air fare to its passengers and strive towards becoming europe No.1 Low Cost airlines. In this paper we will explore and analyze Ryanair s competitive position, strategic capabilities and sustainability of its strategies. COMPETETIVE POSITIONPORTER S FIVE FORCES FRAMEWORK; Threat of New Entrants: LOW High entry barrier due toRead MoreEssay about Dogfight over Europe: Ryanair (C)846 Words   |  4 Pagesgoing to be bankrupted. However, it found the way to overcome this crisis by transform themselves from ordinary high-price airlines into the lowest price airline in the EU. They focused on 5 things to rebirth their company. 1. Focused on cut down the costs: Ryanair aggressively cut most of its costs in many ways. Found the routes and airports that charged low landing fees, and low turnaround costs Chose routes to Secondary airports, low airport fee Eliminated all in-flight amenities Used metal stairsRead MoreAir Canada - Risk Management2520 Words   |  11 PagesAir Canada – Risk Management Case Report Industry Overview The airline industry is one of the largest global industries in the world. Airline companies in the airline industry have gone through challenging obstacles in the past decade. Many changes have occurred within the industry and increased regulations have driven up cost for the industry. The attacks on 9/11 left the industry in shock when planes were used in terrorist attacks in the United States. These attacks changed the mentalityRead Moreâ€Å"Managing Operations for Customer Satisfaction and Enhanced Profitability†1778 Words   |  8 PagesEnhanced Profitability† Introduction The role of operations management is the production of goods and services and to ensure efficiency and effectiveness in the operation process, that means use as little resource as needed and meet the customer requirements. Moreover, it is converts inputs (in the forms of materials, labour and energy) into outputs (in the form of goods and services) and aims to increase the content of value-added activities in any given process in an organization. (Meredith

An Inside Look at Melissa Harris-Perry Essay - 1597 Words

Melissa Harris-Perry analyzes the myths surrounding black women and the implication that correlate with these myths. Perry focuses on three main stereotypes of black women that began with slavery and are still prevalent in society today. Perry not only examines the depth and causes of these stereotypes, but she also scrutinizes their role in African Americans lives as citizens today. Black women today are not only separated from society outside of the African American community, but there are also existing stereotypes within the culture. Examining the history of black women, the three prominent stereotypes attached to them and comparing these to society today, it is clear that the standard for African American women is not only†¦show more content†¦Baartman’s genitalia and buttocks were examined and were qualified as scientific evidence that black women were not fully civilized (58). From these, so called, scientifically legitimate studies of Baartman came the ideolog ical biases, racism, and arrogance of white American culture that lasted decades. The negative internalization black women held, and continue to hold, arose from this blatant act of discrimination against the African American culture. To begin discussing stereotypes of African American women, one must understand that the stereotypes white women in America face are much different. While, the stereotypes of women as a whole have been negative and perverse, the majority of these views have been reversed since the beginning of the 20th century. Societal norms of white women have transformed from the days of June Clever to a post-feminist era with equality on the rise. However, this revolution of norms has not occurred at the same rate for African American women. Analyzing the stereotypes of Jezabel, Mammy, and Sapphire the transparent myths of black women persist today. The over sexualized perceptions of black women began with the inadequate observations and studies done by biased white males. Black women were believed to have exaggerated sex organs and uncontrollable sexuality (58). This stereotype was locked in during slavery while African American women were subject to abuse fromShow MoreRelatedEgo Tripping By Nikki Giovanni1208 Words   |  5 Pagesover the world, not just black women, are treated as if all we are ever good for is cooking, cleaning, taking care of the men, and having their babies. In Veronica Wells article â€Å"In Case You Missed It: Nikki Giovanni Performs â€Å"Ego-Tipping† On Melissa Harris Perry says that â€Å"women are often disrespected and belittled be the men in our society and even other women as well.† Her stand for equality in the black community is very important, especially if you are a female. All in all, â€Å"Ego-Tripping† is allRead MoreThe Cultural Identity Of The Strong Black Woman2874 Words   |  12 Pagesm a Superwoman- Alicia Keys, Superwoman Alicia Keys is reiterating an identity that is universally accepted by most African-American women (Harris-Perry 184). This is the cultural identity of the Strong Black Woman (SBW): self-reliant, tough, and hardworking. Stuart Hall defines cultural identities as, â€Å"[A] sort of collective ‘one true self’, hiding inside the many other, more superficial or artificially imposed ‘selves’, which many people shared history and ancestry hold in common† (Hall 223).Read MoreDivided Races : The Help And Its Controversy3530 Words   |  15 Pagesduring the Civil Rights era. Another person who has similar sentiments regarding The Help is Duchess Harris, an associate professor of American studies at Macalester College. Duchess Harris is quite vocal about her disapproval of The Help: â€Å"And the result is that The Help isn’t for Black women at all, and quickly devolves into just another novel by and for white women† (Harris). Basically, Harris believes that The Help tries to turn the plight of black women in the South into empathy for the mainRead MoreStrategy Management18281 Words   |  74 Pagesplanning. 2. Management. I. Title. HD30.28.R6647 2013 658.4’012--dc23 2011038165 www.mhhe.com rot12737_fm_i-xlvi.indd iv 17/11/11 7:37 PM Confirming Pages Dedication To my eternal family for their love, support, and sacrifice: Kelleyn, Harris, Winston, Roman, and Adelaide —Frank T. Rothaermel rot12737_fm_i-xlvi.indd v 17/11/11 7:37 PM Confirming Pages ABOUT THE AUTHOR FRANK T. ROTHAERMEL Georgia Institute of Technology Frank T. 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OK, intuitively that sounds right. But we felt that the BusinessWeek methodology (executives voting on which companies are innovative) produces a listRead MoreDeveloping Management Skills404131 Words   |  1617 PagesDewett, Wright State University Andrew J. Dubrin, Rochester Institute of Technology Steven Edelson, Temple University Norma Givens, Fort Valley State University Barbara A. Gorski, St. Thomas University David Hampton, San Diego State University Stanley Harris, Auburn University Richard E. Hunt, Rockhurst College Daniel F. Jennings, Baylor University Avis L. Johnson, University of Akron xx PREFACE Jay T. Knippen, University of South Florida Roland Kushner, Lafayette College Roy J. Lewicki, Ohio StateRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesMyManagementLab For an interactive application of this topic, check out this chapter’s simulation activity at www.mymanagementlab.com. Let’s begin by briefly defining the terms manager and organization—the place where managers work. Then let’s look at the manager’s job; specifically, what do managers do? Managers get things done through other people. They make decisions, allocate resources, and direct the activities of others to attain goals. Managers do their work in an organization, which isRead MoreProject Mgmt296381 Words   |  1186 PagesPerformance Indexes 469 Project Percent Complete Index 469 Technical Performance Measurement 471 Software for Project Cost/Schedule Systems 471 Additional Earned Value Rules 471 Project Site Selection 540 Cross-Cultural Considerations: A Closer Look 541 Adjustments 542 Working in Mexico 545 Working in France 546 Working in Saudi Arabia 547 Working in China 549 Working in the United States 550 Summary Comments about Working in Different Cultures 552 Culture Shock 553 Coping with Culture ShockRead MoreStrategic Human Resource Management View.Pdf Uploaded Successfully133347 Words   |  534 PagesCome†; Peters. 68. 69. 70. 71. Thriving on Chaos: Handbook for a Management Revolution. Ward. â€Å"Layoffs: What Does Flexibility Really Cost?† Greller, Martin M., and David M. Nee. From Baby Boom to Baby Bust. Reading, MA: Addison-Wesley, 1989; Perry, Lee T. â€Å"Least-Cost Alternatives to Layoffs in Declining Industries,† Organizational Dynamics 14, no. 4 (1986): 48–61; Beer, Michael, Bert Spector, Paul R. Lawrence, D. Quinn Mills, and Richard Walton. Managing Human Assets. New York: The Free Press

Business International Trade and Comparative Advantage

HOMEWORK 11 (Last HW – Due 4/28) Read the Logitech case and answer the following questions. 1: In a world without trade, what would happen to the costs that American consumers would have to pay for Logitech’s products? 2: Explain how trade lowers the costs of making computer peripherals such as mice and keyboards. 3: Use the theory of comparative advantage to explain the way in which Logitech has configured its global operations. Why does the company manufacture in China and Taiwan, undertake basic RD in California and Switzerland, design products in Ireland, and coordinate marketing and operations from California? 4: Who creates more value for Logitech – the 650 people it employs in California and Switzerland, or the 4,000†¦show more content†¦What are the implications of this observation for the argument that free trade is beneficial? The 650 employees in Fremont, California and Switzerland create more value for Logitech. It is where all of the RD and designs are developed. The 4,000 employees of China add $3 to the Wanda product, which is almost nothing in comparison to the remaining $37. Free trade is beneficial because labor costs can be brought way down. Why do you think the company decided to shift its corporate headquarters from Switzerland to Fremont? America specializes in RD. The headquarters were moved because of the company’s global marketing, finance, and logistics operations. That is what Americans do best. To what extent can Porter’s diamond help explain the choice of Taiwan as a major manufacturing site for Logitech? There are four parts to Porter’s diamond: (1) factor of endowments, which is a nation’s position in factors of production such as skilled labor or the infrastructure necessary to compete in a given industry; (2) demand conditions, which is the nature of home demand for the industry’s product or service; (3) relating and supporting industries, which is the presence or absence of supplier industries and related industries that are internationally competitive; (4) firm strategy, structure, and rivalry, which are the conditions governing how companies are created,Show MoreRelatedWhy Do Business Internationalise?. International Trade1181 Words   |  5 PagesWhy do business internationalise? International trade can be traced back to ancient years. Our ancestors, with the purpose of increasing the variety of local products, had been trying their best for decades to trade cross border. 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Furthermore, international trade theories were developed to explainRead MoreBusiness in the International Economy1704 Words   |  7 PagesECO8060: Business in the International Economy Assignment 1 Name: Tabassum Ansari Student Id: 0000599937 Part A: 1. Demand sensitivity depends on all of the following except Ans. The sensitivity of a Firm’s output to changes in its price. 2. Which of the following is true if the total variable cost curve is rising Ans. Marginal cost is increasing. 3. In exhibit 1 below, when the price is $5, the firm: Ans. should produce output equal to 7 4. The most recent phase of globalization is charactizedRead MoreDifferent Theories Concepts Of International Trade Theories1697 Words   |  7 Pagesbetween different theory concepts of international trade theories. The author will analysis and seriously assess their believe concepts and believe. The author of this assignment agrees with the economist that international trade is the interdependence of nations in terms of trade. International trade theories are basically different theories, with their concept of trade how they explain international trade. The concept of majority of economist believes that, trade is about exchanging goods and servicesRead MoreThe Government Intervention Of International Business Essay1748 Words   |  7 Pagesnations conduct in international business, it exposes them to increased risks and costs through unfair trade and bribery in order to obtain a competitive advantage or power. Mercantilism explains why the government intervention of international business increases the chances of these risks. Mercantilism is the theory that explains, the government will maintain their economy and trade to promote their own domestic industry at the cost of the other country leading to unfair trade (Pettinger,2016). AsRead MoreInternational Trade Theories, Trade, Cultural Diffusion, And Economic Trade Theory1374 Words   |  6 Pagesbase concept of international trade theories. The author will examine and critically assess the concept of international trade. This paper agrees with the economist that international trade is the interdependence of nations in terms of trade, cultural diffusion, and economic interdependency. International business trade theories are basically different theories with their concept of trade how they explain international trade. The concept of majority of economist believe that, trade is about exchangingRead MorePorters Theory of National Competitive Advantage1717 Words   |  7 PagesIntroduction Porters theory of national competitive advantage expands on basic international trade theory, which posits that nations can leverage certain advantages that they inherit to create advantage for themselves on international markets. What Porter contends is that there are advanced factor endowments that nations can cultivate in order to give them competitive advantages in international trade. These advanced factor endowments are firm strategy, structure and rivalry; factor conditions;Read More Challenging Comparative Advantage Essay1410 Words   |  6 PagesComparative advantage is a principle developed by David Ricardo in the early 19th century to explain the benefits of mutual trade (Carbaugh, 2008). Many underlying assumptions of comparative advantage depend on states of economic equilibrium and an absence of economy of scale. In reality, economies are dynamic and subject to innovation and interference; which has led to revised assumptions of return and competition (Krugman, 1987). These facto rs have created questions of free trade and governmentalRead MoreThe Law Of Comparative Advantage1611 Words   |  7 Pageshave the comparative advantage, and then trades those element, all countries are better off. This theory called the law of comparative advantage became the primary reason for international trade. Now a days MNC are the primary actors of international trade, and the bargaining model that they use with countries government can appear as a practical implementation of the law of comparative advantage. In fact Dunning, J. H. (2000) estimate that competitive advantage which is a type of comparative advantageRead MoreThe Concept and Sources of Comparative Advantage1367 Words   |  5 PagesComparative Advantage Abstract The first section of the paper discusses the concept of comparative advantage and the factors that determine trade. The second section of the paper focuses on analyzing the sources of comparative advantage of national economies. The paper continues with an analysis of the international movement of production factors. There is also a section that addresses the economic effects of tariffs and non tariff barriers. The concept of comparative advantage refers to countries

Conceptual And Methodological Foundations â€Myassignmenthelp.Com

Question: Discuss About The Conceptual And Methodological Foundations? Answer: Introduction In the present business scenario, marketing strategy being implemented by the contemporary business organizations to not only sell their products, but also determining the market requirement effectively. In the current business state of affairs, business organizations have to operate in intensely competitive market and thus, it is important for them to effectively design their marketing activities in order to target their customers (Baker 2014). Retail market sector is one of the most intensely competitive markets in Australia with having several established players in the market (Chutani and Sethi 2012). Thus, organizations operating in this sector are initiating various marketing concepts in order to stay ahead in the competition. Woolworths is one of the prominent players in the market with having diverse product portfolio and deep market penetration. They are also known for their distinctive marketing strategies being implemented. This report will discuss about the marketing strategy being implemented by Woolworths for promoting HOMEBRAND ORANGE FRUIT DRINK in the Australian market. Their target market and their process of segmenting and positioning their customers will be discussed. Accordingly, recommendations will be provided to enhance the effectiveness of their marketing activities. Company profile Woolworth is a chain of supermarkets across Australia with having the market leadership status in the retail market. It was founded in 1924 and currently they are having more than 1000 stores across Australia. They mostly specialize in selling grocery items to their customers. However, gradually they have entered other market sectors also (Woolworths.com.au 2017). Currently they are offering grocery items along with stationary items, music items and household products. Being a supermarket, they are having huge diversity in their product portfolio along with several product lines. Due to their diversified product portfolio, they are catering to broader audiences. Target market strategy Currently, the target market of Woolworths is consists of high-income customers due to their offering of higher end and slightly expensive products (Wedel and Kamakura 2012). However, in the recent time, they are trying to target the middle-income customers also to expand their market area and presence. Due to this reason, they have initiated the promotional activities of HOMEBRAND ORANGE FRUIT DRINK. This brand is being targeted offer highest quality at the lowest price available. To initiate the target strategy for the new set of customers, they have initiated various marketing strategies. Segmentation, targeting and positioning model will be used to determine the target strategy of Woolworths for HOMEBRAND ORANGE FRUIT DRINK. According to this model, the first step is to segmentation. The customer segment of operation for Woolworths is the higher income customers. However, in the case of HOMEBRAND ORANGE FRUIT DRINK, they have targeted the mass market of consumer goods. Geographic al segmentation of them is quite broad due to their presence across the Australia (Cross, Belich and Rudelius 2015). Woolworths is having their presence in every state in Australia and thus, the geographical segmentation for them is effective. Targeting The next stage in this model is targeting. It refers to the initiation of strategies to effectively reach out to the target segments (Riefler, Diamantopoulos and Siguaw 2012). The recent marketing strategies being initiated by Woolworths are mostly oriented towards the grocery and consumer goods. This is due to the reason that, they have targeted the middle-income customers by offering affordable consumer goods at an affordable price range. According to their marketing strategies, consumer goods are being referred as necessity items and thus are will be easy for them to target the new customer segments effectively. In addition, they are involving more extensive marketing strategies in order to target the mass market. They are covering every marketing medium ranging from print media to television commercials (Rosenbloom 2012). These strategies are helping them in reaching out effectively to the mass market. They are also shifting their business orientation towards the concept of every day low value pricing from their existing higher pricing model. Thus, it will also help them to cater to more number of customers. Positioning The last stage of this model is the positioning strategy. It refers to the positing of the particular brand in the mind of the target customers (Hassan and Craft 2012). Woolworths positioned their offerings as premium and top quality products in the market. Quality is the key criterion being followed by them in delivering their products to the customers. Another strategy being taken by them is the pricing policy. They design their pricing policy in such way that it will not offer low price to the customers. This is due to the reason that, offering much lower price will affect the customer impression (Lioze et al. 2012). The advertisement of them is being designed according to their brand positioning status. The promotional activities of Woolworth convey the competitive advantages that they possess in the market over their competitors. These strategies are helping them in creating an image of premium and quality products offerings of Woolworths. However, in the case of promoting HOMEBRAND ORANGE FRUIT DRINK, they have positioned their product portfolio as premium offerings for the mass markets. The pricing has also been done accordingly to target the mass market without compromising on quality or their brand value. Marketing strategy implemented by Woolworths To cater to more number of customers, Woolworths have implemented and designed their marketing strategies effectively. They have initiated the marketing mix in their business activities accounting to the requirements of the customers. Seven Ps of marketing mix will be used in determining the effectiveness of the marketing strategies being implemented by them. Product The product is the first aspect of the marketing mix. It refers to the offerings by the organization in the market. Due to the reason that they operates in the retail sector, thus, they resell the finished products to the customers (Mital et al. 2014). It helps them in catering to more number of customers and meeting their diversified requirements. HOMEBRAND ORANGE FRUIT DRINK is their private label brand. In the case of the private label brand they are producing and selling the products by own. Thus, they have in the direct competition with the other fruit drink producers. In addition, the private label brand of them is offering diversified products. Thus, the product assortment is more in the case of HOMEBRAND ORANGE FRUIT DRINK. Price As discussed earlier, the pricing strategy of Woolworths is being designed according to the requirement of their target customers. The price of the products in HOMEBRAND ORANGE FRUIT DRINK is not much lower due to the reason that, it will adversely affect their positioning strategy in the market. Woolworths has positioned HOMEBRAND ORANGE FRUIT DRINK as a premium and high quality item. Thus, offering products in lower prices will have negative impact on the target customers. Moreover, they offer various product assortments in a single product line. It helps them in offering the same products in different sizes and prices (Chernev 2012). Thus, eventually the single product is being offered in various price segments. They have priced their private label brands accordingly. Thus, with help of HOMEBRAND ORANGE FRUIT DRINK, they are targeting different customer segments. Place Products of HOMEBRAND ORANGE FRUIT DRINK are being available from all the stores of Woolworths. Woolworths is having their supermarkets across every state in Australia. In addition, they have more than 19 conventional stores in Australia. Thus, customers have their convenience in having the access to their stores. Moreover, Woolworths have initiated online marketing for their products. Customers have the access of their official websites through which they can shop online (Yoganarasimhan 2013). Thus, the customer convenience will be more in this case. With higher penetration in the market along with effective market presence, customers will find it easy to locate the Woolworths store within their convenience. Hence, the products under HOMEBRAND ORANGE FRUIT DRINK are being available at every possible selling point. Promotion The promotional activities initiated by Woolworths cover various marketing mediums and reach to wider audiences. They are initiating innovations in enhancing their marketing activities. One of the key effective marketing strategies implemented by them in the recent years is the social media marketing. Initiation of the social media marketing enables them to effectively determine the requirement of the customers and the current market trend. Accordingly, they are offering their products through their stores. Another key advantage that they have garnered from their social media marketing is generation of the feedback from the customers regarding their existing products (Tuten and Solomon 2014). It helps them to determine their weaknesses compared to their competitors. Another promotional strategy implemented by them is the customer loyalty program. It was first introduced in their stores in Tasmania. It helps them to provide loyalty services to their regular customers, which in turn enhance the customer loyalty as well as the customer satisfaction of them. Another promotional strategy being initiated by them is the everyday rewards. According to this scheme, Woolworths can record and determine the purchasing pattern of their regular customers and accordingly they will offer products and rewards to them. Thus, these types of promotional activities are helping them in targeting more number of customers. People Employees and customers of Woolworths are also being involved in the marketing activities of them. According to them, employees will be the key source of enhancing the satisfaction level of the customers and thus it is important to have proper training and development of the employees (Ji et al. 2012). In addition, effective determination of the requirement of the customers is also important to implement the marketing activities. Woolworths involve various activities to train and equip their employees in order to enable them to provide effective customer service. Moreover, they to determine the market trend are doing market research. Process Process involves the effective service delivery to the customers. In the case of Woolworths, they are installing automated checkout counters in order to reduce the queue in the checkout counter. Moreover, barcode is being attached with all of their products, which enables in swift checking out the case counters (Orel and Kara 2014). Moreover, with initiation of the online shopping portal, customers now have the convenience of shopping their products at anytime and anywhere. Thus, the process of service delivery of Woolworths is effective. Physical evidence Physical evidence refers to the tangible value being provided to the customers by the organizations. In the case of Woolworths, they offer retail consumer goods. Thus, their entire product portfolio is having physical value. It helps the customers to determine the quality and other criterions of them before buying the products. On the other hand, it is easy for the organization to present their quality and other competitive advantages to the customers more effectively. Recommendations Woolworth is mainly operating mainly in the Australian region. However, they are recently opting to enter in some other countries to expand their business area. Thus, it is being recommended that the target market in the international business for them should be the developing countries (Dunning 2013). This is due to the reason that, the retail sector in the developed countries is already being saturated with very less chance for the new entrants to gain market share. On the other hand, the developing economies such as India and China are rapidly growing and thus it will be a huge opportunity for Woolworths to tap the growing market with their products under HOMEBRAND ORANGE FRUIT DRINK. Moreover, these nations are having huge populations with a large chunk of middle class. Thus, the market opportunities for them will be more than that in the developed countries. Diversification strategy will also be beneficial for Woolworths due to the reason that, there are huge opportunities of diversification in the retail sector. Moreover, the brand value and identity that they carry with them will be added advantage to push the new products in the market. Under the HOMEBRAND ORANGE FRUIT DRINK, they can diversify in to various product categories such as initiation of different flavors to meet the various customer requirements. It will be beneficial for Woolworths if they can introduce premium offerings under HOMEBRAND ORANGE FRUIT DRINK. This is due to the reason that, the products under HOMEBRAND ORANGE FRUIT DRINK are mainly targeted towards the mass market. Thus, offering premium products will not only extend the market area, but also create positive image among the mass-market customers. Conclusion It is can be concluded that, the existing marketing strategy of Woolworths for HOMEBRAND ORANGE FRUIT DRINK is effective enough to cater to the existing customers in the Australian market. However, they need to gain more competitive edge in order to cater to the global customers. It is of urgent requirement for them to follow the recommended steps given in this report to enhance their competitive advantages to compete in the global market of consumer products. Reference Baker, M.J., 2014.Marketing strategy and management. Palgrave Macmillan. Chernev, A., 2012. Product assortment and consumer choice: An interdisciplinary review.Foundations and Trends in Marketing,6(1), pp.1-61. Chutani, A. and Sethi, S.P., 2012. 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