Saturday, May 23, 2020

Promoting garage business - Free Essay Example

Sample details Pages: 20 Words: 5948 Downloads: 5 Date added: 2017/06/26 Category Business Essay Type Research paper Did you like this example? 1. Business Overview Motor Store is a newly established company in the auto industry situated in Omagh, Northern Ireland. Its objective is to satisfy local demand for auto parts and to sell products to local garages as well as the general public. Don’t waste time! Our writers will create an original "Promoting garage business" essay for you Create order Chairperson Brendan McAnulla will be in charge of the start-up of the store, its daily operations and also be responsible to the board. Financial resources for the company will be supported by the business program run by the Bank of Ireland. In terms of human resources available a skilled workforce will contribute to the success of the business in terms of both its management and operation functions. The product ranges to be dealt with by the company can be divided into four categories: car parts including replacements parts such as clutches and maintenance items such as oil/lubricants etc; car entertainment, tools for repair and maintenance and other miscellaneous car care products. The selling of brand products with high levels of recognition in the industry from suppliers such as Delphi, Valeo, Castrol Oil, and Bosch JVC car audio to a degree positions Motor Store as a company drawing upon an image of quality goods and superior customer service. As Gilbert (1999) points out pr oducts are a combination of tangible material and intangible value and as such brand names have significant impacts on the evaluation of intangible assets for products in the minds of customers. Thus it can be said to be useful for a car parts retailer to intermix corporate branding with quality brand goods. Along these lines the company has managed to secure a unique distribution channel of Delphi products. The major selected methods of selling so fare are to be in-store purchases and also mail shots which can support both in-store and mail order purchasing. The store will be located in the Gortrush industrial estate as it is one of the biggest car products exchange centers in Omagh. The location is convenient for traffic and offers a sophisticated infrastructure with easy access to and from a large hinterland surrounding the area as well as major arteries to Belfast. In addition placement in the industrial estate means the company will be able to obtain government support in te rms of tax benefits and lower renting cost from the special zoning regulations involved. This can be argued to be essential elements for a starting business such as Motor Store bringing overall cost-effective benefits during the difficult initial stages of trading. Working from the customer base of the industrial estate itself Motor Store is located next to a well established car paint distributor which should have the effect of providing an initial pool of possible customers from an already established business in a complimentary aspect of the industry. The store will be 3000 sq f. which will include front shelf based displays and a store room used to store car parts such as brakes. A well-presented display area supported by effective merchandise will result in a better shopping environment which will contribute to initial customer attraction in purchasing goods, (Markham, 1998). The pricing strategy to be employed by Motor Store follows a cost-orientated model which is often ch osen by new businesses because of the lower financial risks involved. In using this then the type of management technique adopted by Motor Store is Cash flow Profit Planner. A high cash flow level is able to decrease risks related to finance and operations which is a useful strategy for new businesses and one generally also it must be acknowledged supported by financial backers of new businesses. During these primary stages sales performance will be vital so Motor Store will plan to exploit a range of promotional tools to build a healthy sales base as quickly as possible. First in order to attract customers to purchase in the store the company plans to offer special product ranges at a pricing below full cost covering only direct costs. In doing so the store aims to create a price advantage over competitors in the short term and generate its own customer base rapidly. It is useful to blend pricing tools with other elements of a marketing mix since rapid penetration is essential for new businesses in gaining market share in the short term, (Shipley, 1981). Motor Store will also aim to exploit its promotional mix effectively in order to build up long term customer relationships as well as achieving short term market penetration. In retail situations the customer has full freedom in choosing products without the presence of a salesperson however an effective sales assistant is able to both assist and encourage customers in determining their choice of products. This face-to-face and human element can be a critical success factor for any retailer and arguably is even more so in the case of the company as part of its targeted market are trade-based individuals. This will necessitate sales assistants who have a degree of technical knowledge concerning the product range which allows them to deal with technical questions from a knowledgeable customer. Motor Store aims to concentrate on one to one contact and interaction with consumers as a direct way of communicatin g with customers. It is relatively easy using these methods then to provide information about the store such as contact cards and also provide special introductory offers directly and also promotional gifts, for example Replica cars. These human touches should encourage customers to purchase and will it is hoped provide a foundation for building long term loyalty to the company. Motor Store will also make use of radio advertisements and press advertising along with public relations activities such as sponsorship for garage staff training and customer events like trips to Silverstone and indoor karting. In doing so Motor Store aims to promote and image of customer friendly service and build long term business relationships with customers. This will be able to provide competitive advantages in competing with other retailers by leveraging store loyalty over the long term. As Blythe (2000) suggests public relations has become critical for companiesà ¢Ã¢â€š ¬Ã¢â€ž ¢ survival over the long term and contributes also to adding extra value to each function in the value chain, from logistics to marketing and services. In addition to the former promotional activities Motor Store will also aim to provide mail shots and catalogues to customers which will allow them to order by mail. In the UK mail order services are linked with an image of cheap and convenience for industries such as the car part retailing industry. Therefore the use of mail order from catalogues will help Motor Store to spread its service and influence over a wider range of area and possible customers. These efforts made by Motor Store can be said generally aim to generate positive word-of-mouth with high quality products and professional service levels. The success of the measures should ensure the company quickly establishes a positive reputation in the market which will provide a solid foundation for continued success and growth. 2. Review of the external and internal environment PESTEL Frame work and Industrial Five Forces Model It is vital for managers to make sense and comprehend the factors comprising the environments in which their organisations will operate. Thus analysis of business environments becomes an essential tool of strategic management. Johnson and Scholes (2002) suggest that the external environments in which organisations operate can be analysed from macro and micro viewpoints. The framework of a PESTEL analysis is useful in giving a detailed macro account and this is the analytical tool to be used by Motor Store. The PESTEL model namely concentrates on political, economic, social, technological, environmental and legal factors. It provides insight into the core elements to be aware of when looking at the macro factors of relevance for organisational operations. Firstly whilst there has been continuous encouragement from local government and national government in developing the UK automotive industry there has recently been a downturn in demands for automotives as well as automotive parts, (De Saint-Seine, 2005). Retailing appears to occupy a vital role in understanding this economic change and this trend may have roots in the poor economic performance of England generally resulting in lower GDP and lowered consumer confidence towards purchasing expensive goods such as cars. However conversely it may be a feature that lowered confidence in purchasing new cars may go hand-in-hand with desires to maintain already existing purchases for a longer time, therefore Motorà ¢Ã¢â€š ¬Ã¢â€ž ¢s Storeà ¢Ã¢â€š ¬Ã¢â€ž ¢s supply of replacement and maintenance parts may be a significant growth area given environmental conditions. However studies reveal that the demand for luxury cars continues growing as a result of technological development in the automotive field as well as changes in peopleà ¢Ã¢â€š ¬Ã¢â€ž ¢s lifestyle, (Roy and Griggs, 2005). The purchase of new cars is also impacted significantly by MOT requirements and EU legislation dealing with automobiles and cars. As such these elements indicate a strong position for Motor Store if demands for products can be successfully taken advantage of by the company. It is obvious then that the car parts retailing industry is closely linked to the car repair industry. Therefore the recent report for a consortium of motor manufacturers and repair garages resulted in the launching of the Automotive Technician Accreditation (ATA) scheme, an industry-standard brand developed to counter rip-off and substandard operators in the industry. This could have major influences on car parts retailers and provide an externally recognisable accreditation for consumers in determining the quality of a service provider, (Solley, 2005). This will be reinforced by the fact that the repair industry standards will be supported by various public awareness advertising campaigns over the next year which seeks to secure and recognise good practice in the car repair industry. It is reasonable to say that the higher standard of repairing services will not only require more technologically skilled garage workforce but also higher quality car parts and advanced repairing tools. As a result Motor Store should be in a strong position to capitalise on these trends. Additionally both organisations and individuals are subject to an unprecedented pace of technological change in the way business challenges are approached and the nature of these challenges in the 21st century. In order to keep pace with these changes information systems have evolved their role in business in terms of integration within management and services enabling for example electronic commerce methods to be deployed and controlled easily, (Elliot, 2002). This is also the case in the car parts retailing industry in that retailers can exploit computerised systems to control daily operations, stocks and merchandise tracking/ordering. From the customerà ¢Ã¢â€š ¬Ã¢â€ž ¢s perspective the increasing use of the Int ernet means there is an increasing acceptance of this new shopping form. The United Kingdom is one of the leading countries in relation to e-commerce generally in terms of legislative regulatory support of Internet retailing and has an extensive broadband infrastructure upon which e-retailing methods depend. The UK government continues to strongly advocate the development of a à ¢Ã¢â€š ¬Ã‹Å"legal and fiscal environmentà ¢Ã¢â€š ¬Ã¢â€ž ¢ to facilitate itself to be the best place in the world to conduct e-commerce by 2002, (Galliers Wiggins, 2002). Such avenues represent possible means for Motor Store to differentiate itself further and reach a much wider possible market both in Northern Ireland and possibly also on the mainland. Linked with this IT and communications infrastructures and digital services companies as well as competitive financial marketplaces, such as London being one of the main European financial centres plays an essential role in the building of dependably e-s hopping networks. Surveys indicate that consumer acceptance of e-shopping in the UK is much higher than other countries in Europe, (Forrester Research, 2000). Thus it is unsurprising note already existing websites used by car parts retailing companies to sell online. Due to the nature of the market buying behaviour in that customers are more sophisticated and technically knowledgeable there is a requirement for full information and advice from sales person as well as detailed search information during the purchasing process. Research has demonstrated that information-rich products attract consumers in buying and websites can be useful in helping buyers better understand a productà ¢Ã¢â€š ¬Ã¢â€ž ¢s feature and benefits, (Eisenmann Brown, 2002). Thus a combination of traditional players and new eBusiness parties might drive the development of the business-to-customer market in the car parts retailing industry. The fact that this phenomenon is a relatively new feature means again tha t Motor Store is in a position to capture a significant share of this emerging sector of the market. Furthermore it is vital to be cognisant of the changes in peopleà ¢Ã¢â€š ¬Ã¢â€ž ¢s lifestyle which can be defined as a personà ¢Ã¢â€š ¬Ã¢â€ž ¢s pattern of living in the world expressed in his/her activities, interest and opinions, (Kotler, 1986). Firstly research reveals that modern customers demand more time for leisure, sports, fashion and music products, (Frenie, J., Fernie, S. Moore, 2003). This arguably suggests that car accessory/entertainment devices ranges will increasingly contribute to car parts retailersà ¢Ã¢â€š ¬Ã¢â€ž ¢ sales performance. Secondly rapid technological development causes automotive product life cycles to be shorter than ever before so branding strategy is often used by retailers to build and draw upon customer loyalty. It has been reported that modern customers are less loyal to one retailer thus effective public relations plays a vital role in maint aining customer trust. Thirdly in relation to automotive purchases more and more people show concern over environmental issues during the buying process. National standards such as the MOT legally requires high quality levels for cars in respect of environmental issues thus people are often legally required to purchase environmentally friendly products. Last but not least it is useful to be aware that a result of demographic trends the population is gradually ageing meaning older rather than younger customers being the larger possible market, (Gilbert, 1999). Two possible results from this include less time for in-store shopping as a result of work pressures and more brand sensitivity when they purchase due to longer periods of exposure to certain brands. This reflects Maslowà ¢Ã¢â€š ¬Ã¢â€ž ¢s hierarchy of needs framework in that people seek to satisfy high level needs such as self-esteem, social status through purchasing branded products, (Maslow, 1998). Taken together these trend s imply the possibility for Motor Store to position itself as both a high quality provider in terms of products but also one which takes account of more sophisticated social concerns articulated by an ageing demographic. To take advantage of this successfully though would arguably need market research concerning the preferences and demands of older customers. In terms of the industrial environment it is worthwhile mentioning the five forces framework in that it provides a useful guide for the analysis of external environments organisation compete in. The competition generally in the automotive parts retailing industry has become increasingly intense. As a result of the downturn in the selling of cars the demands for the car parts are expected to slow down correspondingly. Yet as mentioned this trend may be countered by demands for maintenance related parts. In addition to traditional retailers there are also more e-sellers which are able to offer significant price advantages due to lower store and labour costs. Generally speaking the bargaining power of buyers has increased and consumers as a result need to be put at the centre of any strategic decision making carried out by retailers. It is essential for retailers then that they meet customer needs bearing in mind the changes associated with car purchasing and repair behaviours. On the other hand retailers can exercise more power in relation to suppliers since they could select the right products to sell meaning more ability to negotiate special product offers. Finally the future of new entrants in this market remains unclear since small businesses along with big companies might enter the market yet due to the downturn there might also be exiting of some already established operators. SWOT Analysis Key strategic information about the business environment can be summarised in the form of a SWOT analysis bearing in mind the core strategic resources and capabilities within the organization. Therefore fi rst of all it is essential to identify Motor Storeà ¢Ã¢â€š ¬Ã¢â€ž ¢s strategic resources as well as its weaknesses. As a newly established store compared with its major competitors such as M L Auto parts and Auto Components Motor Store lacks an established customer base as well as a store brand name. Motor Store also does not have its own distribution vans currently meaning it will be inconvenient to provide mail order or online booking for its entire product ranges forcing it to depend on external distribution networks. Thus compared to its main competitors who possess their own vans for the delivery of products Motor Store is in a weak competitive position on this point. However as a new company Motor Store will be able to apply the latest technological applications enabling them to have competitive advantages in relation to techniques as there is no need to alter an already established organisational architecture to be able to apply such innovations. The offer of free technolog ical training for garages could generate good relationships with local garages that are a major part of targeted customers for the company. It is fair to say that professional and high-quality customer service is the most important strength for the store. This can be formed and solidified in the efforts in building good public relations and in-store services. Motor Store not only offers for example free parking coverage but also engages in various promotional services such as technique training for customers and free gifts. The unique distribution of Delphi products range secured by the company will enable them to satisfy customer needs for specific quality goods better than competitors. Also the solid basis of its supplier relationship will generate cost advantages for the store in terms of direct costs as well as providing unique resources for the distribution of certain brand products such as Delphi. This can be seen as a vital strength compared to other retailers since brandi ng quality goods to a large extent contributes to its overall competitive position. The financial support from Bank of Ireland should provide financial strength in terms of the corporate cash flow allowing responsive stocking of up-to-date product merchandise. Also the convenient location for the store provides a ready customer pool from which trade customers can be drawn and convenient distribution channels set up. In considering opportunities and threats changes in the environments have been dramatic and the pace of change is also intense in the competitive business world. One of the most important aspects of change is the development of technology linked to automotive and car repairing. As mentioned before the general downturn in the automotive market generates potential threats to the store. However growing demands for technologically advanced luxury cars also give opportunities to Motor Store if they can be exploited successfully. Motor Store as a new company is able to assi milate new information faster than older organisation according to organisational learning cycle frameworks. Thus the selling of brand products and technologically advanced car parts and repairing tools will give the company the opportunity to build up good relationships with car users particularly luxury car users and garages who have to keep pace with technological developments. As discussed the wide use of the Internet generates both threats and opportunities for Motor Store. On the one hand it is clear that online car parts retailers have cost advantages over traditional retailers. It means they can use a price premium to cut down profit margins for competitors in respect of quantity and quality. However e-commerce security and privacy related issues have caused some customers to return to traditional ways of purchasing. Yet e-commerce also offers opportunities to integrate businesses in terms of internal stock networks supporting online selling. Whether online features will be opportunities or threats will depend greatly on the successful application of a strategic plan dealing with the ramifications of the technology. Again as a new company Motor Store is in a strong position to develop an organisational structure which takes advantage of the opportunities offered. Regulations and standards developed by the car repair industry and national government also provides opportunities for Motor Store since better through providing higher quality goods Motor Store will be able to create a competitive position in the car parts industry through external quality accreditation. Garages will prefer technologically advanced suppliers and high quality goods in order maintain their service levels. Car users have to purchase better quality goods in order to meet legal requirements for automotives. With changing lifestyles there is also growing demands for car entertainment products and accessory product ranges. Growing interests in environmental issues will allow Moto r Store establish a new environment-orientated store image which should build significant positive customer relationships. While the youth market is predicted to decrease the proportion represented by the student population especially in higher education has grown. This produces a workforce with better education levels to deal with technological developments a significant element given the need for the company to have a knowledgeable workforce able to keep pace with new information as a result of technological development. 3. Current issues that requires strategic planning Strengths + Opportunities Customers are more concerned about brand names when they purchase thus Motor Storeà ¢Ã¢â€š ¬Ã¢â€ž ¢s high quality goods and various brand product ranges should generate competitive advantages for the company. The provision and retention of a skilled workforce will also help in maintaining brand image and product quality. Therefore the use of a branding strategy needs to combine corporate strengths with opportunities in order for the company to compete effectively in the car parts retailing industry. It is critical to remember that branding strategy not only means the selling of brand products but also means creating a good store brand name through superior customer service as well as the retailing of high quality goods. The provision of a no quibble warranty can be viewed here a significant component of building store loyalty by ensuring customer trust in the quality of the service and product offered by the company. Secondly the development of e-commerce suggests opportunities for Motor Store in developing its online system in terms of internal control networks and corporate website allowing customers to search product information and purchase online increasing overall service provision efficiency. An e-commerce strategy needs to be based on a skilled workforce and have good financial support. As Margolis (1996) points out IT technology will be widely applied in the retailing system with traditional retailing forms being supported by e-commerce being the main trend in the retailing industry. Weaknesses + Opportunities According to the analysis above the main weakness for Motor Store is the lack of a long term established customer base as well as a store brand name. Opportunities based on technological development offer chances to set up a technique-advanced store image through sophisticated operations systems, skilled and professional workforce and high quality products. In doing this and supported by the use of e-commerce and public relations activity Motor Store should be able to effectively develop a good reputation along with a strong store brand name relatively rapidly. Strengths + Threats Due to the decreased market size in the automotive industry Motor Store should strategically position itself in relation to targeted customers. The storeà ¢Ã¢â€š ¬Ã¢â€ž ¢s strength in providing quality goods offers advantages in relation to luxury car users since they require higher quality parts and more advanced repair tools. The use of a branding strategy arguably can overcome the downturn in the industry generally. In addition the products ranges dealing with car entertainment parts and accessories can generate profits to recover losses incurred by a decreased market size. From this perspective Motor Store should differentiate itself from competitors as a car parts retailer aiming at the luxury level car parts marketplace along with promoting an image related to driving enjoyment through car accessories and easy self service car care. In terms of garages they should be targeted as technologically based garages which require high quality products and technological advanced support systems for car maintenance. The pricing tool is not necessary in this differentiation strategy thus this strategy falls into a customer service based differentiation without a price premium leverage as defined in the strate gy clock, (Johnson and Scholes, 2002). 4. Mission Four principles guide the mission of Motor Store, these being ÃÆ' ¢-  Empowerment of individuals ÃÆ' ¢-  Equality ÃÆ' ¢-  Honesty ÃÆ' ¢-  Democracy Motor Store intends to provide excellent customer service based on superior quality products in order to satisfy customer needs. These customers include local garages and the general public. In terms of garages Motor Store is keen to provide professional and technological support. In relation to the general public Motor Store is eager to help them maintain their driving enjoyment through providing quality products and superior services in ensuring smooth operations of their vehicles. The image to be promoted by the company is encapsulated by being customer friendly and environmentally friendly. 5. Aims and Objectives ÃÆ' ¢-  Product: -To provide varied ranges of top quality products to both garages and ge neral public. 1. Offer high quality car parts supported by a range of branding suppliers. 2. Offer sophisticated and high quality car repair tools in supporting both garages and individual customers. 3. Offer stylish and high quality car entertainment product ranges to enhance driving pleasure. 4. Offer advanced car care products to maintain value for cars owned by customers. ÃÆ' ¢-  People: To build good relationships with several interested parties. 1. Provide superior and professional customer service to customers based on the provision of high quality products and informative advice on these products through supported training of human resource elements. 2. Maintain stable relationships with employees in order to fulfil effective work performance commitments in terms of customer service. 3. Satisfy the corporate board by achieving financial goals including roughly a 30% investment return after the first year in operation coupled with realis able long term organisational growth. ÃÆ' ¢-  Branding: To create a strong brand name for Motor Store in terms of high awareness and recognition in the market for quality products and superior service. 1. Improve brand awareness through an effective marketing and communication mix. 2. Create a brand image of a customer orientated and environmentally concerned company. 3. Improved sales performance through successful implementation of the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s branding strategy. ÃÆ' ¢-  Organisation: To achieve organisational growth. 1. Organisational expansion over the first three years from Northern Irish market to the mainland UK marketplace. 2. Achieve 30% growth rate in the first year and 25% in the following two years. 3. Achieve leadership status in the car components retailing industry through exploiting advanced technological advantages. 4. Effective organisational control through effective intranet, team working networks among different departments. 5. Maintain good relationships with suppliers in order to obtain cost advantages and organisational efficiency in supply distribution channels. ÃÆ' ¢-  E-commerce: To develop an efficient e-commerce model in order to support organisational control and support customer service provision. 1. Develop an efficient internal network contributing to organisational control and effective organisational operations. 2. Develop an integrated supplier-retailer-distributor relationship through e-commerce techniques. 3. Provide online access through a corporate website for product information and access to an e-shopping model. 4. Use e-commerce to support branding strategy in terms of word-of-mouth and building positive brand reputation. 6. Action Plan HR resource plan Customer-focused differentiation strategy This differentiation strategy relies on excellent customer service and high quality products thus primary a ctivities in the value chain from logistics, operations, marketing and sales, and service will each contribute to the effective implementation of the strategy, (White, 2005). As such the logistics department is in charge of product selection from suppliers, product storage, distribution as well as delivery. The use of e-commerce here is able to help achieve just-in-time distribution and product maintenance with substantial cost benefits to the business. The marketing group plays a vital role in the strategic implementation since they are responsible for effective promotional planning including advertising campaigns, PR activities, in-store sales and e-marketing activities. Superior customer service delivery can be achieved through offering quality products, competitive and special offer pricing, in store promotions and convenient delivery channels for customers. It is critical for the company that it applies technological developments in adding value to customer service provision. T he service department is responsible for the training of customers and in-store explanation and sales promotion in relation to products. The HR department is responsible for employee training in order to maintain high levels of expertise and knowledge concerning products among employees and allow for training to be conducted in better customer service techniques. At the beginning stages of a business a flatter organizational architecture supported by an intranet will be employed since this is a useful means of maintaining effective communication between different departments. Thus the leadership style will be a Dominance Approach to begin with and then gradually moving to Shared Vision Approach. This is because a strong organisational culture to a large degree contributes to the efficiency of operations and relations between management teams and employees, (Brooks, 2003). At this stage the strategic position of leadership in the management of business activities is central for th e organisational growth. Cooper (2005) argues that the role of trust as a way of highlighting strategic leadership is essential in corporate management. This is because trust as a belief is vital to the maintenance of business productivity and to the implementation of self-management based teams. For Motor Store one of the main strategic objectives is to build good employee relationships allowing for the retention of skilled workers. By sharing and promoting a strong unifying vision of the organisationà ¢Ã¢â€š ¬Ã¢â€ž ¢s values and culture in the initial stages the foundations will be laid for a more inclusive approach reflecting shared organisational attributes during the growth phase for the company. Branding Strategy The implementation of a branding strategy requires effective cooperation within the store at all levels of operations and service provision. The marketing department is directly in charge of promotional and communication models which seek to achieve branding ob jectives which include improvement of brand awareness, continued building of brand image and good public relations to increase recognition of brand images. Radio advertisements have been chosen since it is a cheaper medium than TV for advertising is an effective method of communication directly with car users. Advertising in press along with mail shots will be printed out on A4 paper by using a four colour model based on a cost-effective strategy related to such campaigns. The catalogue will be delivered in store by sales people and spreading the store brand name by word-of-mouth is a significant element of the strategy. This will require a professional well-presented and enthusiastic sales team in these initial stages. Also effective communication models rely on quality customer service and quality goods thus it is critical that integration occur with all the primaries activities and functions of the company bearing in mind the branding strategy. E-commerce techniques will allow im plementation of branding goals in the short term at a low cost as a result of low costs involved in the use of the Internet compared with other mediums. Therefore there is a strong need to develop an effective internal network along with a corporate website initially. E-commerce The development of an e-commerce system will be finished within one month. Experts and representatives from different departments will co-operate and contribute to system design in tandem with an external e-commerce skilled consultant. In doing so Motor Store will be able capitalise on the opportunities offered by e-commerce in setting up a business in the short term in terms of improving brand awareness through viral marketing and attracting customers. The delivery of e-marketing products will be fulfilled by subcontracting to Parceline a large, well-recognised and trusted delivery company in the UK which provide services both within Northern Ireland and mainland UK, (Parceline, 2005). ÃÆ' ¢-Ã⠀šÃ‚  Timetable for Strategic Implementation Month 1 2 3 4 5 6 7 8 9 10 11 12 Year 1 Employee training. Gather customer data. Develop E-commerce model. Customer Service. Expand customer Base. Build up effective customer relationships. Employee Training program review. Excellent customer service. Achieve differentiation based on customer service. Year 2 Employee training. Maintain competitive advantage. Employee Training. Superior public relations. Maintain differentiation based on customer service. Year 3 Employee training. Maintain existing customers, create new customers. Employee training. Establish leadership position in the car parts retailing industry. Financial Plan ÃÆ' ¢- Assumption Year 1 Year 2 Year 3 Plan Month 1 2 3 Current Interest Rate 10.00% 10.00% 10.00% Long-term Interest Rate 10.00% 10.00% 10.00% Tax Rate 25.42% 25.00% 25.42% ÃÆ' ¢- Financial Budget: First Year CATEGORY MONTHLY BUDGET AMOUNT MONTHLY ACTUAL AMOUNT DIFFERENCE BETWEEN ACTUAL AND BUDGET INCOME: Sales Forecast  £15,000 Internet Marketing Sales  £ 500 Interest Income  £100 Capital Gains Income Dividend Income Miscellaneous Income  £140 INCOME SUBTOTAL EXPENSES: Store Rent  £2,500 Utilities: Gas/Water/Electric/Trash  £200 Salary  £6,500 Telephone  £100 Office Repairs/Maintenance  £100 Product  £5,000 Gasoline/Oil  £150 Auto Repairs/Maintenance/Fees Other Transportation (tolls, bus, subway, etc.)  £100 Child Care Auto Insurance  £ 150 Computer Expense  £50 Entertainment/Recreation  £100 Toiletries, Household Products Clothing  £50 Promotion Gifts  £300 Healthcare (medical/dental/vision, inc. insurance) Radio Advertising Campaign  £300 Press Advertisement  £300 Federal Income Tax  £ 200 State Income Tax  £ 200 Social Security/Medicare Tax EXPENSES SUBTOTAL  £11,800 NET INCOME (INCOME LESS EXPENSES)  £4,040 ÃÆ' ¢- Corporate Balance Sheet Current Assets Year 1 Year 2 Year 3 Cash  £48,000  £75,000  £120,000 Inventory  £14,000  £17,000  £20,000 Other Current Assets 0 0 0 Total Current Assets  £62,000  £92,000  £140,000 Long-term Assets Long-term Assets  £15,000  £15,000  £15,000 Accumulated Depreciation  £1,000  £3,000  £5,000 Total Long-term Assets  £14,000  £12,000  £1000 Total Assets  £76,000  £104,000  £150,000 Liabilities and Capital Current Liabilities Year 1 Year 2 Year 3 Accounts Payable  £13,000  £16,000  £20,000 Current Borrowing 0 0 0 Other Current Liabilities 0 0 0 Subtotal Current Liabilities  £13,000  £16,000  £20,000 Long-term Liabilities 0 0 0 Total Liabilities  £13,000  £16,000  £20,000 Paid-in Capital  £4,300  £4,300  £4,300 Retained Earnings ( £1,000)  £1,200  £4,000 Earnings  £20,000  £18,000  £22,000 Total Capital  £49,300  £55,500  £70,300 7. Monitor and Evaluating Performance Chairperson Brendan McAnulla will take charge of the management team which includes a Financial Manager, a Marketing manager, a HR manager and a Logistics manager. Data of daily corporate performance will be collected by computerised internal systems in such a way as allowing for the accomplishing of just-in-time stock control and dynamic promotional strategy adjustment. Monthly meetings will be held in order evaluate corporate performance and adjust strategic goals based on reported data. Annual board reports will enable evaluation of corporate performance within a financial year and in doing so satisfy shareholderà ¢Ã¢â€š ¬Ã¢â€ž ¢s expectations of accurate performance and demonstrable organisational growth. Such reports will include annual appraisals of employee in terms of training and sales related performance data. The key aim of the monitoring strategy is both to assess but relate assessment to organisational flexibility in responding to customer needs and environmental dynamics. References Blythe, J. (2000) Marketing Communications, FT Prentice Hall, UK. Brooks, I. (2003) Organisational Behaviour: Individuals, Groups and Organisation Second Edition, Prentice Hall, Pearson Education Limited, UK. Cooper, C. (2005) Leadership and Management in the 21st Century: Business Challenges of the Future, Oxford University Press, Oxford New York. Donnelly, T., Barnes, S. Morris, D. (2005) Restructuring the Automotive Industry in the English West Midlands, Local Economy, Vol.20 Issue 3. Elliot, S. (2002) Introduction to B2C Strategies and Models, in Elliot, S. (ed) Electronic Commerce: B2C Strategies and Models, John Wiley Sons, UK. Frenie, J., Frenie, S. A Moore, C. (2003) Principles of Retailing, Butterworth-Heinemann, Oxford New York. Forrester Research (2000) UK Online Retail: From Minority to Mainstream, May, London. Galliers, B. Wiggins, A.( 2002) Internet Retailing in the United Kingdom, in Eliiot, S. (ed) Electronic Commerce: B2C Strategies and Models, John Wiley Sons,UK. Jobber, D. (2001) Principles Practice of Marketing 3rd edition, McGraw-Hill Publishing Company, London UK. Johnson, G. Scholes, K. (2002) Exploring Corporate Strategy: Text and Cases 6th edition, FT Prentice Hall, London UK. Kotler, P (1986) Marketing Management: Analysis, Planning and Control, Prentice Hall, New York USA. Margolis, B. (1996) Digital Commerce: the Future of Retailing, Direct Marketing, Vol. 41 Issue 6. Markham, J.E. (1998) The Future of Shopping: Traditional Patterns and Net Effects, Macmillan Business, London UK. Maslow, A. (1998) Maslow on Management, John Wiley, New York USA. Parceline (2005) Parceline Official Website, available from: Roy, R., Colner, S. Griggs, T. (2005) Estimating the Cost of a New Technology Intensive Automotive Aroduct: A Case Study Approach, International Journal of Production Economics, Vol . 97 Issue 2. Solley, S. (2005) Motor Industry Sets up Repair Standard, Marketing (UK), July 6th. White, C. (2004) Strategic Management, Palgrave, London UK.

Tuesday, May 19, 2020

Why Does Cilantro Taste Like Soap

Cilantro is a green, leafy herb that resembles parsley. Its the leafy part of the coriander plant (Coriandrum sativum), which produces seeds that are used as a spice. For those who appreciate it, cilantro tastes like a stronger version of parsley, with a tangy citrus flavor. However, some people loathe cilantro. Between 4% and 14% of tasters describe the flavor of cilantro as soapy or rotten. Why is such an innocent-looking plant so reviled? The soap taste is real for some people and there is a scientific reason behind it. Its all about genetics. Key Takeaways Cilantro is the leafy part of the coriander plant. The plant is related to parsley and looks similar, but has a stronger flavor with an added citrus tanginess.4-14% of tasters describe cilantro as soapy or rotten in taste. The percentage varies depending on ethnicity and is lower in regions featuring cilantro in cuisine.Genetic differences affect the perceived flavor of cilantro. Gene OR6A2 is an olfactory receptor gene that codes for a receptor sensitive to aldehydes, which are the compounds largely responsible for the aroma and flavor of cilantro. Sensitivity to aldehydes causes the soapy scent and flavor to overpower any pleasant herbal notes. Flavor Perception Relates to Ethnicity Studies on the perceived flavor of cilantro have found that between 4% and 14% of tasters think the leaves taste like soap or taste rotten. Dislike for cilantro varies among ethnic groups, with 12% of East Asians, 17% of Caucasians, and 14% of person of African descent expressing aversion to the herb. However, if cilantro is a popular component of local cuisine, fewer people dislike it. Where cilantro is popular, 7% of South Asians, 4% of Hispanics, and 3% of Middle Eastern respondents identified a dislike of the flavor. One explanation is that familiarity with the flavor, whether it tastes soapy or not, increases the odds of liking it. Another explanation is that people within an ethnic group share more common genes. Cilantro is the leafy part of the coriander plant. The seeds are coriander spice. kolesnikovserg / Getty Images Genetics and Cilantro Flavor The link between genetics and cilantro flavor was first identified when researchers found 80% of identical twins share a like or dislike of the herb. Further investigation led to identification of the gene OR6A2, an olfactory receptor gene that makes a person sensitive to aldehydes, the organic compounds responsible for cilantro flavor. People who express the gene find the smell of unsaturated aldehydes offensive. Additionally, they cant smell the pleasant aromatic compounds. Other genes also affect the senses of smell and taste. For example, having a gene that codes for increased perception of bitterness also contributes to a dislike for cilantro. Other Plants With a Soapy Flavor Linalool is a molecule with a distinctive fragrance and soapy flavor. ollaweila / Getty Images A variety of unsaturated aldehydes contribute to cilantros aroma and flavor. However, the terpene alcohol linalool is the one most associated with the herb. Linalool occurs as two enantiomers or optical isomers. Basically, the two forms of the compound are mirror images of each other. The one found in cilantro is (S)-()-linalool, which has the common name coriandrol. The other isomer is (R)-(-)-linalool, which is also known as licareol. So, if youre sensitive to the soapy flavor of coriander, other plants may also smell and presumably taste like a shower stall. Coriandrol occurs in lemongrass (Cymbopogon martini) and sweet orange (Citrus sinensis). Licareol is found in bay laurel (Laurus nobilis), sweet basil (Ocimum basilicum), and lavender (Lavandula officinalis). The soapy flavor of lavender is so pronounced that even people who like cilantro often object to lavender-flavored food and drinks. Hops (Humulus lupulus), oregano, marjoram, and marijuana (Cannabis sativa and Cannabis indica) are similarly high in linalool and taste like dishwater to some people. A person who dislikes cilantro would also find lavender lemonade soapy-tasting. Westend61 / Getty Images Sources Knaapila, A.; Hwang, L.D.; Lysenko, A.; Duke, F.F.; Fesi, B.; Khoshnevisan, A.; James, R.S.; Wysocki, C.J.; Rhyu, M.; Tordoff, M.G.; Bachmanov, A.A.; Mura, E.; Nagai, H.; Reed, D.R. (2012). Genetic analysis of chemosensory traits in human twins. Chemical Senses. 37 (9): 869–81. doi:10.1093/chemse/bjs07Mauer, Lilli; El-Sohemy, Ahmed (2012). Prevalence of cilantro (Coriandrum sativum) disliking among different ethnocultural groups. Flavour. 1 (8): 8. doi:10.1186/2044-7248-1-8McGee, Harold (April 13, 2010). Cilantro Haters, Its Not Your Fault. The New York Times.  Umezu, Toyoshi; Nagano, Kimiyo; Ito, Hiroyasu; Kosakai, Kiyomi; Sakaniwa, Misao; Morita, Masatoshi (2006). Anticonflict effects of lavender oil and identification of its active constituents. Pharmacology Biochemistry and Behavior. 85: 713–721. doi:10.1016/j.pbb.2006.10.026Zheljazkov, V. D; Astatkie, T; Schlegel, V (2014). Hydrodistillation extraction time effect on essential oil yield, composition, and bioactiv ity of coriander oil. Journal of Oleo Science. 63 (9): 857–65. doi:10.5650/jos.ess14014

Tuesday, May 12, 2020

Snow Leopard Facts Behavior, Diet, Habitat, and More

The snow leopard (Panthera uncia) is a rare big cat adapted to life in a cold, harsh environment. Its patterned coat helps it blend in with the steep rocky slopes above the tree line in the Asian mountains. The other name for the snow leopard is the ounce. Ounce and the species name uncia derive from the old French word once, which means lynx. While the snow leopard is close in size to a lynx, it is more closely related to the jaguar, leopard, and tiger. Fast Facts: Snow Leopard Scientific Name: Panthera unciaCommon Names: Snow leopard, ounceBasic Animal Group: MammalSize: 30-59 inch body and 31-41 inch tailWeight: 49-121 poundsLifespan: 25 yearsDiet: CarnivoreHabitat: Central AsiaPopulation: 3000Conservation Status: Vulnerable Description The snow leopard has several physical characteristics that are adapted to its environment. These traits also distinguish the snow leopard from other big cats. The snow leopards fur camouflages the cat against rocky terrain and protects it from cold temperatures. The dense fur is white on the snow leopards belly, gray on its head, and dotted with black rosettes. Thick fur also covers the cats large paws, helping to grip slick surfaces and minimize heat loss. The snow leopard has short legs, a stocky body, and an extremely long, bushy tail, which it can curl over its face to stay warm. Its short muzzle and small ears also help the animal conserve heat. While other big cats have golden eyes, the snow leopards eyes are gray or green. Also unlike other big cats, the snow leopard cannot roar. It communicates using mews, growls, chuffing, hisses, and wails. Male snow leopards are larger than females, but they have a similar appearance. On average, a snow leopards length is between 75 and 150 cm (30 to 59 in), plus a tail thats 80 to 105 cm (31 to 41 in) long. The average snow leopard weighs between 22 and 55 kg (49 to 121 lb). A large male may reach 75 kg (165 lb), while a small female may weigh under 25 kg (55 lb). Habitat and Distribution Snow leopards live at high elevations in mountainous regions of Central Asia. Countries include Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Afghanistan, Pakistan, India, Nepal, Bhutan, Mongolia, and Tibet. In the summer, the snow leopards live above the tree line from 2,700 to 6,000 m (8,900 to 19,700 ft), but in the winter they descend to forests between 1,200 and 2,000 m (3,900 to 6,600 ft). While they are adapted to traverse rocky terrain and snow, snow leopards will follow trails made by people and animals if they are available. Snow leopard range. Laurascudder, GNU Free Documentation License Diet and Behavior Snow leopards are carnivores that actively hunt prey, including Himalayan blue sheep, tahr, argali, markor, deer, monkeys, birds, young camels and horses, marmots, pikas, and voles. Essentially, snow leopards will eat any animal thats two to four times their own weight or less. They also eat grass, twigs, and other vegetation. Snow leopards do not hunt adult yaks or humans. Usually they are solitary, but pairs have been known to hunt together. As an apex predator, adult snow leopards are not hunted by other animals. Cubs may be eaten by birds of prey, but only humans hunt the adult cats. Reproduction and Offspring Snow leopards become sexually mature between two and three years of age, and they mate in late winter. The female finds a rocky den, which she lines with fur from her belly. After a 90-100 day gestation, she gives birth to one to five black-spotted cubs. Like domestic kittens, snow leopard cubs are blind at birth. Snow leopard cubs have black spots that turn into rosettes as the cats approach maturity. Picture by Tambako the Jaguar / Getty Images Snow leopards are weaned by 10 weeks of age and remain with their mother for up to 18-22 months. At that point, the young cats travel great distances to seek their new home. Scientists believe this trait naturally reduces the chance of inbreeding. In the wild, most cats live between 15 and 18 years, but snow leopards live about 25 years in captivity. Conservation Status The snow leopard was on the endangered species list from 1972 until 2017. The IUCN Red List now categorizes the snow leopard as a vulnerable species. The change reflected an improved grasp of the reclusive cats true population, rather than an increase in numbers. An assessment in 2016 estimated a population between 2,710 to 3,386 mature individuals remaining in the wild, with a decreasing population trend. An additional 600 snow leopards live in captivity. While they arent aggressive toward humans, snow leopards do not make good pets because they require considerable space and raw meat, and males spray to mark territory. While snow leopards are protected over part of their range, hunting and poaching pose a major threat to their survival. The snow leopard is hunted for its fur and body parts and killed to protect livestock. Humans also hunt the snow leopards prey, forcing the animal to encroach on human settlements to find food. Habitat loss is another significant threat to the snow leopard. Commercial and residential development reduces the available habitat. Global warming increases the altitude of the tree line, diminishing the range of the cat and its prey. Sources Boitani, L. Simon Schusters Guide to Mammals. Simon Schuster, Touchstone Books, 1984. ISBN 978-0-671-42805-1.Jackson, Rodney and Darla Hillard. Tracking the Elusive Snow Leopard. National Geographic. Vol. 169 no. 6. pp. 793–809, 1986. ISSN 0027-9358McCarthy, T., Mallon, D., Jackson, R., Zahler, P. McCarthy, K. Panthera uncia. The IUCN Red List of Threatened Species: e.T22732A50664030, 2017. doi:10.2305/IUCN.UK.2017-2.RLTS.T22732A50664030.enNyhus, P.; McCarthy, T.; Mallon, D.  Snow Leopards. Biodiversity of the World: Conservation from Genes to Landscapes. London, Oxford, Boston, New York, San Diego: Academic Press, 2016.Theile, Stephanie. Fading footprints; the killing and trade of snow leopards. TRAFFIC International, 2003. ISBN 1-85850-201-2

Wednesday, May 6, 2020

Compare and contrast the roles and relationships of the...

Compare and contrast the roles and relationships of the following pairs of characters: George and Lennie (of Mice and Men) and Holmes and Watson (Sherlock Holmes stories). Compare and contrast the roles and relationships of the following pairs of characters: George and Lennie (of Mice and Men) and Holmes and Watson (Sherlock Holmes stories). Sherlock Holmes stories are short stories, which involve investigating and solving crimes. They include characters such as Sherlock Holmes and Dr James Watson, these are two main characters who are in each short story trying to solve case investigations. Of mice and men is a story in which two friends, Lennie and George are trying to look for a job so that they can for fill their†¦show more content†¦There is a very clear hard working system where everyone would have had to work very hard to earn a living. This would affect individuals, which would lead to different attitudes in the society. There is a racial attitude towards Crooks the Negro stable buck, for example Lennie says to Crooks Why aint you wanted? Crook replies Cause Im black. They play cards in there, but I cant play because Im black. This shows that Crooks has been isolated from the others in the ranch because he is black. There are themes of sexism in this story towards curlys wife because she is the only woman in the ranch, she is always left in her house with nothing to do, people dont treat her with any respect because they just think that she is only a silly woman. This is shown by Curleys wife saying to George Think Im gonna stay in that two-by-four house and listen too how Curleys gonna lead with his left twice. Lennie is a huge man, shapeless of the face, who has large pale eyes, with wide sloping shoulders. Lennie is sort of like a Big baby who cant control his actions. He lacks confidence and intelligence, which people take as an advantage, especially Curly. Lennie always looks up to George and whenever he needs help he will always look straight for George. Lennie has a dream to live with George on a farm and to Live off the fatta the lan and to be able to Tend the rabbits. These are Lennies true desires, which he isShow MoreRelatedAp Exam Essays1660 Words   |  7 Pagesterritories contributed to the coming of the Civil War. Confine your answer to the period 1845–1861. 4. Analyze the roles that women played in Progressive Era reforms from the 1880s through 1920. Focus your essay on TWO of the following. †¢ Politics †¢ Social conditions †¢ Labor and working conditions 5. 5. Explain the causes and consequences of TWO of the following population movements in the United States during the period 1945–1985. †¢ Suburbanization †¢ The growth ofRead MoreBsns106 Finance?1624 Words   |  7 Pagesthe four attributes of information quality: Timeliness, Location, Form and Validity. Lecture 3 1. 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Summary and Personal Response Free Essays

Jessica shares that in her early years growing up on a farm made her feel efferent from the other kids especially during recess as she felt â€Å"not being able to participate in school activities like my friends makes me feel left out and depressed† (Hammerer 2011). These contrast to the other kids who she feels have no chores, wake up just before school begins and have lots Of time after school for social activities and sports. She describes the relationship between her mother and father who â€Å"rarely made time for each other†Ã¢â‚¬Ëœ (Hammerer 201 1). We will write a custom essay sample on Summary and Personal Response or any similar topic only for you Order Now Jessica shares that this, â€Å"left a lasting impression on her as an adult as she was always more focused on the job at hand rather than forming relationships†. A pivotal moment happens in high school when her father decides to expand his farming operations and makes an important decision that he wants his â€Å"children to focus on school and go to college† (Hammerer 201 1 Jessica could focus on her basketball as well as get involved in other school and social activities. Her friends comment that they are amazed by how she â€Å"managed my time so well and how don’t get stressed out† (Hammerer 2011). Jessica purpose in writing this personal essay is to share her experience grow. Eng up, 3 having to balance farm and school life and, how being â€Å"different† made her feel. Jessica attitude is formed by this, giving her the tools, and experience to be responsible for herself as an adult. Jessica essay appeals to a wide audience who are interested in reading and seeing how the experiences of a child, can shape their attitude for their entire life. Her tone is mixed. She expresses joy at the simplest chores like when she is feeding the calves. She experiences a fulfillment that she is â€Å"finally the one in charge† (Hammerer 201 1). According to Jessica, she is, â€Å"depressed at times, as she cannot participate in the social discussions at recess like her friends can†. Finally, she expresses a great sense of accomplishment as she realizes her childhood has provided her the following tools to be successful as an adult namely; responsibility, time management, focus and resolve. My emotional response to Jessica story was one of reflection and awe. At a young age, she was able to discern that she was different from her friends. She wanted to be able to fit in but that these differences did not make her bitter or sad. Then, when she had an opportunity to join in and participate, she excelled. She reflected later in life that this was all due to her being soused on doing the little things in life well. How to cite Summary and Personal Response, Papers

Marketing Marketing Analysis on Facebook Inc.

Question Facebook Inc is a global online social network that has about one billion member accounts. However the organisation is less than 10 years old. Despite intense media excitement when Facebook listed as a public company in May 2012, the share price has bobbed around quite a bit since. Many business analysts are beginning to question the companys long-term viability because it is difficult to discern a coherent business strategy. Your task in this case analysis is to answer two questions by critically analysing Facebooks history, resources and market situation. Please do not just describe events, although you should read Facebooks history to understand the background to your analysis. You should use the principles and concepts that you have learned throughout the unit to answer the following three questions: (1) What marketing strategy or strategies has Facebook adopted since it was created? Answer this question by applying one or more of the theoretical approaches discussed in the course. (2) What marketing options can you describe for Facebook if it wishes to remain a successful organisation throughout the next decade? Answer this question based on the circumstances that exist in 2014 and your best forecasts of relevant future industry factors. Answer Introduction Social Media has evolved as the modern resource in the hands of the common man belonging to the digital age, to keep in touch with his near and dear ones. This medium of interaction has grabbed lot of popularity all around the world, all due to its convenient and free of cost social interaction which has enabled to its end users to keep in touch with their friends across globe on a continuous basis. Face book Inc. provides one such user friendly and convenient social media platform, to its one billion users that enable easy real time interaction between all the related social groups and friends at no additional costs than setting up an internet connection. The users of the Face book services have to create their respective profiles on the social media site face book, by posting few of the mandatory information. The viral nature of the social media has the capability of spreading out real time social information within the users own network. Further, the individuals reading the users post also have the option of sharing the information ahead to their group of friends. Thus, any information posted by the user reaches the other people in his network within a fraction of seconds. This sharing of social information is the key concept that keeps several of the face book users hooked to this platform. Background to the Company Face book was launched in the year 2004 by its founder Mark Zukerberg that initially offered social networking service to a close group of Harvard University students. Currently the company has one billion registered users availing virtual social networking facilities through this website. The company handles large volume of social data posted by its users and maintains strict compliance with its privacy policies that supports its user base. The company became publicly listed on the stock markets in the year 2012 and launched its Initial Public offering in February 2012. The stock of this company received tremendous response from the public that reached its peak market capitalization of dollar 104 billion within three months of public offering. In the year 2012, the companys CEO was ranked in the top 10 worlds billionaires. The core webpage of Face book offers simple and user friendly content to its users. The users having no technical knowledge or web knowledge are also in position to easily adapt to the amazingly simple user interface of this website. The company as of today highly influences on personal and social relationships in context to the web behavior of its registered users. The companys marketing and branding strategies of attracting more and more registered users are thus revolved around the web behavior of the people. Personal Branding is a very prominent factor that has helped sustain the popularity of the Face book platform, allowing its users to constantly stay in touch with their relatives, friends and acquaintances located in any part of the globe (Whadcock, 2010).The Face books business has grown tremendously in the recent past. The Revenues of this company have surged by approximately 60 percent in the last nine months and the companys spokes personnel expect this impressive growth to continue in the near future. Apart from its core website, the company has other additional platforms that make it a market leader in the virtual social networ king business. These additional platforms include Instagram, WhatsApp, Messenger and Search applications. Marketing Analysis The Marketing strategy implemented by the company Face book Inc., have always been closely associated with the attraction of maximum customers and keeping the customers regularly hooked to the website. This strategy was intended to achieve instantaneous popularity to the website and that would be reflected in the companys bottom line. The company face book Inc. had never invested in any of the heavy promotional activities. The company was an instant hit since its inception and had never designed any major ad campaigns. The sheer business model of allowing personal branding on a virtual media helped the user base growth for face book (Jurevicius, 2013). (1)The Nature of Face books Marketing Strategy or Strategies since it beganLet us understand the key Marketing Strategies adopted by face book since its inception in the year 2004-(a) Word of Mouth PromotionThe publicity of the social networking site Face book, was mainly on account of tremendous word of mouth publicity by the existing users of the Face book that raved to their acquaintances and close friends about the features and usability of this site.(b) Publicity in the MediaThis is one of the prominent marketing activities and one of the most applied strategies by Face book since it began operations. The huge media coverage given to the innovator business model Face book helped a lot in the companys promotion. The Company face book also intently shared its success story through a huge number of television interviews and print media articles. (c) Third Party Promotions (through advertisers) we will take example of KIA campaign to explain how face book marketed its presence in a ssociation with third party advertisers. KIA motors, a Korean company had launched I Like campaign in association with face book. This campaign was indeed to strengthen the brand image of KIA motors and build an emotional relationship with public through the Fan Page of Face book (Klein, 2014).(d)Introduction of real time social online gaming activitiesThis was one of the unique features offered by Face book that competed with the prevailing online gaming websites. There used to be several online gaming websites that allowed single users to play multiple online games. But Face book introduced the concept of social gaming that allowed multiple friends across the globe to share a single online gaming screen. This feature immensely increased the popularity of Face book and attracted more registered users. (e)Introduction of Face book Music Service toolThis is another innovative feature of the Face book that attracted huge users on Face book. The launch of the music streaming service th rough its Music Service tool with attractive features attracted a lot of music lovers to the plat form. (2) Strategic Marketing Options for Face book moving forwardLet us undertake a Porters 5 forces analysis to gauge strategies for Face book business to move forward with the prevailing cut throat competition in the social networking business (Trefis, 2014): (a) The intensity of rivalry among the established firms is expected to be at moderate to high level in the near future, as a large number of existing competitors like Google plus is providing full featured social networking platforms on web as well as through new mobile applications. (b) The Bargaining power of the Buyers is extremely high as the users may easily switch to the competitor platforms, without any switching costs. (c) The Risk of entry by the potential competitors is moderate as the rapidly evolving technological advancement may attract new innovative players to enter the social networking business. (d) The Bargaining Power of the suppliers for the Face books business would be low as the Face book would be a prominent customer for these hardware and software suppliers. (e) The Threat of the substitute products may be moderate to high due to the constant evolution of the technological landscape and development of alternative mobile applications to face books business. The careful study and analysis of the business landscape and marketing strategies of the company-Face book, has clearly indicated the following are the List of strategic Marketing options for the Company Face Book to remain competitive and move forward in the virtual social networking business:(a) Including a More user friendly and effective social search toolThe company may also introduce more user friendly and effective social search tools in their core web pages to stay competitive in their business. The users for example should be able to search most visited hang outs and most preferred costumes by their list of friends (Mourdoukoutas, 2014).(b) Creation of additional value for advertisersThe company is expected to face tremendous business competition in the near future and can use effective marketing strategies like promoting its social networking platforms through third party advertisers to avert the business competition. The advertisers tying up with face book for web promotio ns may also have the option to have in store Face book merchandise as cross-promotional activity.(c) Continuously innovate its offerings to the end users and adapting to changing user trends-The social networking business is gradually becoming highly competitive due to the introduction of new technologies in the market. The Face books business would require to accordingly matching its user expectations to keep the users stable and engaged on the Face Book Platform. This business would clearly require an effective pull marketing strategy that keeps the users hooked to face book screen. This would be only possible by continuously updated to new technology and adapting to changing user trends thorough innovative applications. (d) Effective development of Mobile device compliance and overall platform development for face bookThe number of users opting for face book usage on mobile devices is increasing day by day. The overall platform development and achieving technological competence i n terms of mobile device technology are the two key areas that would support the future competitive strategy and indirectly the marketing strategy of the company face book (Mourdoukoutas, 2014). Conclusion Overall, the Face books marketing strategy is revolved around promoting its users posted content and also giving a social spin to the content posted by the commercial entities on Face book page. The Company face book Incorporation is the most visited social networking site on the internet. The companys high dedication to the mobile and web globalization and its right timing in entering the virtual social networking business has made the company successful. The companys marketing and business strategy was also supported by the first mover advantage that the company got in exploring the virtual social networking world enabled due to high technological advancement of the twenty first century. Thus, the companys simple business model enabled its business to multiply quickly without using any of the direct marketing or heavy promotional strategies. Face book has already become a part and parcel of every common web user and is extremely popular connectivity tool between various social grou ps. The user friendly and simple appearance of the user interface screen of this website has further attracted the senior generation web users apart from the generation X and Y users. The Face books business hence forth would be showered with additional responsibilities in order to protect its current users from switching to another social media website/application. References Distaso Marcia and McCorkindale Tina, 2013, A Benchmark Analysis of the Strategic use of Social Media for Fortunes most admired U.S. companies, Public Relations society of America, Journal vol.7, No. 1, ISSN 1942- 4604. Fair Lindsey, 2011, Face Book may be in the lead, but theres a storm in the forecast, Cape Breton University, Retrieved on January 6th 2015, from Jurevicius Ovidijus, 2013, SWOT analysis of Face book, Strategic Management Insight, Retrieved on January 6th 2015, from Klein Karen, 2014, The End of Free Facebook Marketing? Bloomberg Business Week, Retrieved on January 6th 2015, from Mourdoukoutas Panos, 2014, Whats Wrong with Facebooks Business Model and Innovation Strategy? Forbes, Retrieved on January 6th 20 15, from Stelzner Michael, 2014, Social Media Marketing Industry Report, Social Media Examiner, Retrieved on January 6th 2015, from Team Trefis, 2014, Facebooks Mobile Business: Where is it headed? Forbes, Retrieved on January 6th 2015, from Team Trefis, 2014, Facebook through the lens of Porters Five Forces, Forbes, Retrieved on January 6th 2015, from Whadcock Ian, 2010, Profiting from Friendship, The Economist, Retrieved on January 6th 2015, from Xiaoyan Hu, 2011, Social Media Business Model Analysis- Case Tencent, Face book and Mys pace, Aalto University School of Economics, Retrieved on January 6th 2015, from

Sunday, May 3, 2020

Fashion Business to Consumer

Question: Discuss about theFashionfor Business to Consumer. Answer: Introduction URL and Business Model URL- In a typical business environment there are several homogeneous structures for the JioFashion website. Here we are discussing several E commerce models which are used for the business operation and cash flow implication. The different types of models are given below. Business to Consumer JioFashion basically interact with the customer and outside vendor for purchasing and selling product using the website. This type of transaction is called business to consumer (B2C). It is important to interact with the organization to carry on the product selling information to the purchaser. B2C is the most important transactional feature in e-commerce application. Where the company interact with the e-marketing strategy. This is make possible through the e-payment portal of the application. Business to Business Business to business (B2B) is useful for the inter branch transfer of product. JioFashion is quiet eligible to transfer their product to the different location. Or sometimes it is possible to transfer the goods to the different company. In this case the two companies are involved to transact the product between them. This type of transaction is rarely possible where more than one company are going to contract with other. Consumer to Business Consumer to business is eligible when any product needs to return the company. In this case JioFashion return back the goods from the customer and made refund amount as per the eligible norms. This is possible when any purchaser purchase product from JioFashion and after receiving the goods they found that it has some defects. Based on the return period policy guideline, the consumer return back the product to the business. The company checks truthiness of defect and made refund invoice to the purchaser. This type of transaction is possible because it is a part of business model. Website Structure The website structure are divided into fine parts. Home page, policies, product, about, contact etc. The home page display the basic information, different type of social networking link etc. The policy page contains the company policy information. The user have to agree the policy when they are going to purchase product from the website. The product page display the different type of product which display the product specification including the product description and price. The about us page contains the company information and the achievement and milestone of the company. Additional Feature The additional feature of the website is the color combination and the alignment control over the design prototype. This is required to develop to look the website as a professional design. Also we have integrated the social networking site to the website. This website is defined as the professional ownership for the development purpose. Another additional feature of the application is the e-payment mode. Using this feature the company used to do that type of transaction with the purchaser for making the payment so easily so it will help the customer for hassle free service. The search engine optimization technical process make the website more searchable to the end user. Wordpress Component There are different type of component available in the wordpress environment like color combination, alignment, theme generation etc. The menu creation component is available to the website. The components are necessary to apply the different design prototype. The website has also the menu item for designing the prototype. Wordpress is applicable for designing the website structure and also is helpful for the different title creation and also image upload feature for all type of segment. Another component of the wordpress tool is the widget control. This is the readymade framework which is fit for everywhere in the website. Menu arrangement and reordering of menu and sub menu are the typical control in the application. Features and Functionality The core feature of the website is to build up an e-commerce website which caters the different type of functional analysis to define the basic needs of the website. It is the simple prototype which defines the different product of the company. User login into system and purchase product from the cart. When selected then user redirect to the checkout page. After successful implementation the users going for payment. There are different types of payment option is available for the end of transaction for the system. The functionality of the e-commerce website is the main architectural application which caters the business requirement to the website. It is very important to the developer to develop the website in such a way that it should be attractive to the end user. Links and Resources To develop the above website the company required a lot of developers where the people can develop the product as per the requirement. This specification is important for developing purpose. Thus we have to be more careful during development cycle. The developer must provide the proper links and the redirection path where the user clicks on the URL and redirected to the end path. Thus finally it is more important to the website that the people must follow the links provided by the user. Thus we have to more careful about that. Additionally we have to implement the privacy and security feature to the website. This resources are important to cater the different type of security type enhancement which defines the protocol of the application. This feature is the new added advantage over the e-commerce application. Security is important as it is the core feature and advancement of the application. This type of website is really helpful for the external user where the people can search the desired product to the website. Also the product is helpful for comparing the similar kind of product with different type of e-commerce application. At last we will say that, the e-commerce application and we have created and published one product which is based on the e-commerce application. We also created some sample page providing the basic details and the information towards meet the requirement of the company.