Monday, May 25, 2020
Angel Chang Wei Internship Evaluation Caxton FX is a UK-based foreign exchange company in London. The companyÃ¢â¬â¢s objective is to put a Caxton card in every wallet and to facilitate corporate money transfer on behalf of its private and corporate clients. ItÃ¢â¬â¢s a young and fast growing company which has grown from only one employee in 2004 to 120 employees in 2015. The turnover has grown from 750 million in 2013 to 1 billion in 2015. The company has zero debt and an AAA credit rating. The division which I have been assigned to is the corporate sales team, which has 30 people in 4 departments: lead generators, business development managers, senior sales managers and account managers. The board exploits market opportunities and develops newÃ¢â¬ ¦show more contentÃ¢â¬ ¦With the information, the team gains a better understanding of the market and targets potential clients more precisely, which enhances working efficiency. The corporate sales team has a morning brief meeting every morning at 9 oÃ¢â¬â¢clock. In the meeting, one colleague summarizes the latest news, the main currency exchanges rates, and the major fluctuation in the foreign exchange market. Then, we have discussions on the impacts on the market in regard to the morning brief news. Next, one other colleague would proceed to give a notice with the major events that are going to happen on that day. He will also point out the possible effects on the foreign currency exchange rate. For example, he would speak of the meeting of the European Central Bank, the inflation figures in the UK and the US, the change of the interest rate in China, and so forth. Then the head of the corporate sales team will set daily goals with everyone in the junior sales team regarding the number of phone calls and trades they need to make. The morning meeting benefits everyone in the sales team to gain the ability to analyse the financial market better. It teaches me to integrate academic knowledge with daily news. The core class introduces the advantage of privatization in encouraging competition. Individual companies have to make profitable plans such as devolving management and decreasing costs, which in turn leads to greater efficiency and larger
Friday, May 15, 2020
The concept refers to terms that define phenomena occurring either in thought or nature (McEwen and Willis, 2006). Concepts normally contain some attributes which help to distinguish them. Since the formulation of concepts employs the use of words, concepts can be broadly be categorized as either concrete or abstract. The former can be perceived by the common senses and include concepts such as universe, passion, ground, which are symbolic and a representation of phenomena. On the other hand, abstract concepts include love, anger, passion etc. All these terms are particular to an entity and for that matter descriptive in nature. Concepts can be formulated using a single word, two words or a phrase (McEwen and Willis, 2006). Examples of single word concepts include death, fear, anxiety etc. The concepts with two words can take the form of mutual agreement, self-fulfillment etc. There are concepts which take the form of a phrase such as user-friendly services, environmental conscious behavior, poor service delivery etc. There are many concepts in different disciplines which help to differentiate one from the other. For the reasoned purpose of the systematic study of nature, it is important to come up with concepts that are clear (Duncan, Cloutier and Bailey, 2007). We will write a custom essay sample on The Concept of Care and the Nursing Metaparadigm or any topic specifically for you Only $17.96 $11.86/pageorder now This becomes a stepping stone that gives researchers and scholars a grasp of reality. It also makes the study of phenomena easier. Also in order to communicate meaning clearly to readers, there is a need for scholars to avoid ambiguity. This means that every time a term is used in a particular context, scholars must endeavor to define it to ensure proper interpretation. On the other hand, metaparadigms define a discipline and set the boundaries with other disciplines. It gives the discipline a global perspective which is useful for the practitioners of the discipline to observe phenomena within their parameter (Van Wyk, 2005). In most cases, it comprises a range of major concepts which act as its defining elements. These concepts within a metaparadigm act as limitations or boundaries of the discipline. Again, metaparadigm not only defines a discipline but also outlines its concerns.
Wednesday, May 6, 2020
The Imagery of Fire in Edwidge DanticatÃ¢â¬â¢s Ã¢â¬Å"A Wall of Fire RisingÃ¢â¬ The imagery of fire in Edwidge Danticat s short story Ã¢â¬Å"A Wall of Fire RisingÃ¢â¬ possesses a very powerful meaning and also continually changes throughout the entirety of the story. Fire was a very sacred thing to have, especially during the time this story has taken place. One example of how fire is used in the story A Wall of Fire Rising is the fire that is burning deep down inside of Big Guy. This fire is a metaphor of the build up of all of Big Guy s emotions and frustrations that happen and are presented throughout his life. Big Guy struggles with his inner self a lot. He is also ashamed because he has not had a job in six months, and even that jobÃ¢â¬ ¦show more contentÃ¢â¬ ¦In this perspective, the kerosene lamp represents Little GuyÃ¢â¬â¢s ambition of wanting success in his play and approval from his parents. No matter how dim the light was in the familyÃ¢â¬â¢s hut, Little Guy was determined to learn his lines next to the lamp: Ã¢â¬Å"The boy went back to the corner where he had been studying and pulled out a thick book carefully covered in brown paper.Ã¢â¬ (pg 233) Ã¢â¬Å"He had to strain his eyes to see the words by the light of an old kerosene lamp, which that night Ã¢â¬â like all others Ã¢â¬â flickered as though it was burning itÃ¢â¬â¢s very last wick.Ã¢â¬ (pg 233) Learning these lines were super important to Little Guy because he wanted to do well in his play for school. Having such a significant part in the school play and being Boukman made Little Guy proud and he also wanted his parents to approve of him and be proud of him too. Little Guy would constantly interrupt Big Guy and Lili from their conversations or whatever they were doing by bringing up his lines in anyway possible: Ã¢â¬Å"A man is judged by his deeds,Ã¢â¬ she said. Ã¢â¬Å"The boy never goes to bed hungry. For as long as heÃ¢â¬â¢s been with us, heÃ¢â¬â¢s always ben fed.Ã¢â¬ (pg 242) Ã¢â¬Å"Just as if he had heard himself mentioned, the boy cam e dashing from the other side of the field, crashing on top of his parents.Ã¢â¬ Ã¢â¬Å"My new lines,Ã¢â¬ he said. Ã¢â¬Å"I Have forgotten my new lines.Ã¢â¬ (pgShow MoreRelatedThe Struggle of the People of Haiti in Edwidge Danticats Novel Krik? Krak!1204 Words Ã |Ã 5 PagesEdwidge Danticats novel Krik? Krak! reflects the struggling people of Haiti from the 1960Ã¢â¬â¢s to the 1990Ã¢â¬â¢s. Danticat, born in Haiti, grew up hearing stories about her homelands past. She learned about the hardships and struggles her elders went through in Haiti. Danticat composed nine short stories that reveal the unmasking truth of what it was like in the previous generations to keep the history of her home country alive. Within the characters in these stories, she describes the inequality, cruelty
Tuesday, May 5, 2020
An oligopoly is a market form in which a market or industry is dominated by a small number of sellers (oligopolists). Oligopolies can result from various forms of collusion which reduce competition and lead to higher costs for consumers.  With few sellers, each oligopolist is likely to be aware of the actions of the others. The decisions of one firm therefore influence and are influenced by the decisions of other firms. Strategic planning by oligopolists needs to take into account the likely responses of the other market participants. Oligopoly is a common market form where a small number of firms are in competition. As a quantitative description of oligopoly, the four-firm concentration ratio is often utilized. This measure expresses the market share of the four largest firms in an industry as a percentage. For example, as of fourth quarter 2008, Verizon, ATT, Sprint, and T-Mobile together control 89% of the US cellular phone market. Oligopolistic competition can give rise to a wide range of different outcomes. In some situations, the firms may employ restrictive trade practices (collusion, market sharing etc.) to raise prices and restrict production in much the same way as a monopoly. Where there is a formal agreement for such collusion, this is known as a cartel. A primary example of such a cartel is OPEC which has a profound influence on the international price of oil. Firms often collude in an attempt to stabilize unstable markets, so as to reduce the risks inherent in these markets for investment and product development.  There are legal restrictions on such collusion in most countries. There does not have to be a formal agreement for collusion to take place (although for the act to be illegal there must be actual communication between companies)Ã¢â¬âfor example, in some industries there may be an acknowledged market leader which informally sets prices to which other producers respond, known as price leadership. In other situations, competition between sellers in an oligopoly can be fierce, with relatively low prices and high production. This could lead to an efficient outcome approaching perfect competition. The competition in an oligopoly can be greater when there are more firms in an industry than if, for example, the firms were only regionally based and did not compete directly with each other. Thus the welfare analysis of oligopolies is sensitive to the parameter values used to define the markets structure. In particular, the level of dead weight loss is hard to measure. The study ofproduct differentiation indicates that oligopolies might also create excessive levels of differentiation in order to stifle competition. Oligopoly theory makes heavy use of game theory to model the behavior of oligopolies: Stackelbergs duopoly. In this model the firms move sequentially (see Stackelberg competition). Cournots duopoly. In this model the firms simultaneously choose quantities (see Cournot competition). Bertrands oligopoly. In this model the firms simultaneously choose prices (see Bertrand competition). Characteristics Profit maximization conditions An oligopoly maximizes profits . Ability to set price Oligopolies are price setters rather than price takers.  Entry and exit Barriers to entry are high. The most important barriers are economies of scale, patents, access to expensive and complex technology, and strategic actions by incumbent firms designed to discourage or destroy nascent firms. Additional sources of barriers to entry often result from government regulation favoring existing firms making it difficult for new firms to enter the market.  Number of firms Few Ã¢â¬â a handful of sellers.  There are so few firms that the actions of one firm can influence the actions of the other firms.  Long run profits Oligopolies can retain long run abnormal profits. High barriers of entry prevent sideline firms from entering market to capture excess profits. Product differentiation Product may be homogeneous (steel) or differentiated (automobiles).  Perfect knowledge Assumptions about perfect knowledge vary but the knowledge of various economic factors can be generally described as selective. Oligopolies have perfect knowledge of their own cost and demand functions but their inter-firm information may be incomplete. Buyers have only imperfect knowledge as to price, cost and product quality. Interdependence The distinctive feature of an oligopoly is interdependence. Oligopolies are typically composed of a few large firms. Each firm is so large that its actions affect market conditions. Therefore the competing firms will be aware of a firms market actions and will respond appropriately. This means that in contemplating a market action, a firm must take into consideration the possible reactions of all competing firms and the firms countermoves.  It is very much like a game of chess or pool in which a player must anticipate a whole sequence of moves and countermoves in determining how to achieve his or her objectives. For example, an oligopoly considering a price reduction may wish to estimate the likelihood that competing firms would also lower their prices and possibly trigger a ruinous price war. Or if the firm is considering a price increase, it may want to know whether other firms will also increase prices or hold existing prices constant. This high degree of interdependence and need to be aware of what other firms are doing or might do is to be contrasted with lack of interdependence in other market structures. In a perfectly competitive (PC) market there is zero interdependence because no firm is large enough to affect market price. All firms in a PC market are price takers, as current market selling price can be followed predictably to maximize short-term profits. In a monopoly, there are no competitors to be concerned about. In a monopolistically-competitive market, each firms effects on market conditions is so negligible as to be safely ignored by competitors. Non-Price Competition Oligopolies tend to compete on terms other than price. Loyalty schemes, advertisement, and product differentiation are all examples of non-price competition. Modeling There is no single model describing the operation of an oligopolistic market. The variety and complexity of the models is because you can have two to 10 firms competing on the basis of price, quantity, technological innovations, marketing, advertising and reputation. Fortunately, there are a series of simplified models that attempt to describe market behavior by considering certain circumstances. Some of the better-known models are the dominant firm model, the Cournot-Nash model, the Bertrand model and the kinked demand model. Cournot-Nash model Main article: Cournot competition The Cournot-Nash model is the simplest oligopoly model. The model assumes that there are two Ã¢â¬Å"equally positioned firmsÃ¢â¬ ; the firms compete on the basis of quantity rather than price and each firm makes an Ã¢â¬Å"output decision assuming that the other firmÃ¢â¬â¢s behavior is fixed. Ã¢â¬  The market demand curve is assumed to be linear and marginal costs are constant. To find the Cournot-Nash equilibrium one determines how each firm reacts to a change in the output of the other firm. The path to equilibrium is a series of actions and reactions. The pattern continues until a point is reached where neither firm desires Ã¢â¬Å"to change what it is doing, given how it believes the other firm will react to any change. The equilibrium is the intersection of the two firmÃ¢â¬â¢s reaction functions. The reaction function shows how one firm reacts to the quantity choice of the other firm.  For example, assume that the firm 1Ã¢â¬â¢s demand function is P = (M Q2) Q1 where Q2 is the quantity produced by the other firm and Q1 is the amount produced by firm 1, and M=60 is the market. Assume that marginal cost is CM=12. Firm 1 wants to know its maximizing quantity and price. Firm 1 begins the process by following the profit maximization rule of equating marginal revenue to marginal costs. Firm 1Ã¢â¬â¢s total revenue function is RT = Q1 P= Q1(M Q2 Q1) = M Q1- Q1Q2 Q12. The marginal revenue function is . [note 1] RM = CM M Q2 2Q1 = CM 2Q1 = (M-CM) Q2 Q1 = (M-CM)/2 Q2/2 = 24 0. 5 Q2 [1. 1] Q2 = 2(M-CM) 2Q2 = 96 2 Q1 [1. 2] Equation 1. 1 is the reaction function for firm 1. Equation 1. 2 is the reaction function for firm 2. To determine the Cournot-Nash equilibrium you can solve the equations simultaneously. The equilibrium quantities can also be determined graphically. The equilibrium solution would be at the intersection of the two reaction functions. Note that if you graph the functions the axes represent quantities.  The reaction functions are not necessarily symmetric.  The firms may face differing cost functions in which case the reaction functions would not be identical nor would the equilibrium quantities. Bertrand model Main article: Bertrand competition The Bertrand model is essentially the Cournot-Nash model except the strategic variable is price rather than quantity.  The model assumptions are: There are two firms in the market They produce a homogeneous product They produce at a constant marginal cost Firms choose prices PA and PB simultaneously Firms outputs are perfect substitutes Sales are split evenly if PA = PB The only Nash equilibrium is PA = PB = MC. Neither firm has any reason to change strategy. If the firm raises prices it will lose all its customers. If the firm lowers price P MC then it will be losing money on every unit sold.  The Bertrand equilibrium is the same as the competitive result.  Each firm will produce where P = marginal costs and there will be zero profits.  A generalization of the Bertrand model is theBertrand-Edgeworth Model that allows for capacity constraints and more general cost functions. Kinked demand curve model Main article: Kinked demand According to this model, each firm faces a demand curve kinked at the existing price.  The conjectural assumptions of the model are; if the firm raises its price above the current existing price, competitors will not follow and the acting firm will lose market share and second if a firm lowers prices below the existing price then their competitors will follow to retain their market share and the firms output will increase only marginally.  If the assumptions hold then: The firms marginal revenue curve is discontinuous (or rather, not differentiable), and has a gap at the kink For prices above the prevailing price the curve is relatively elastic  For prices below the point the curve is relatively inelastic  The gap in the marginal revenue curve means that marginal costs can fluctuate without changing equilibrium price and quantity.  Thus prices tend to be rigid. Examples In industrialized economies, barriers to entry have resulted in oligopolies forming in many sectors, with unprecedented levels of competition fueled by increasing globalization. Market shares in an oligopoly are typically determined by product development and advertising. For example, there are now only a small number of manufacturers of civil passenger aircraft, though Brazil (Embraer) and Canada (Bombardier) have participated in the small passenger aircraft market sector. Oligopolies have also arisen in heavily-regulated markets such as wireless communications: in some areas only two or three providers are licensed to operate. Australia Most media outlets are owned either by News Corporation, Time Warner, or by Fairfax Media Grocery retailing is dominated by Coles Group and Woolworths. Banking is dominated by ANZ, Westpac, NAB, and Commonwealth Bank. To an extent this oligopoly is enshrined in law in what is known as the Four pillars policy, in order to ensure the stability of Australias banking system. Most of the telecommunications in Australia is delivered by Telstra or Optus. Other brands are virtual network operators (VNO). Canada Six companies (Royal Bank of Canada, Toronto Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada) control the banking industry. As of 2008, three companies (Rogers Wireless, Bell Mobility and Telus Mobility) share over 94% of Canadas wireless market.  4 companies control the internet service provider market, (Rogers), (Bell), (Telus), (Shaw) 8 companies control the oil and gas market, (Husky Energy) (Imperial Oil) (Nexen) (Petro-Canada) (Shell Canada) (Suncor Energy) (Syncrude Canada) (Talisman Energy) India The petroleum and gas industry is dominated by Indian Oil, Bharat Petroleum, Hindustan Petroleum and Reliance. Most of the telecommunication in India is dominated by Airtel, Vodafone,Idea, Reliance European Union The VHF Data Link market as air-ground part of aeronautical communications is controlled by ARINC and SITA, commonly known as the organisations providing communication services for the exchange of data between air-ground applications in the Commission Regulation (EC) No 29/2009. United Kingdom Five banks (Barclays, Halifax, HSBC, Lloyds TSB and Natwest) dominate the UK banking sector, they were accused of being an oligopoly by the relative newcomer Virgin bank. Four companies (Tesco, Sainsburys, Asda and Morrisons) share 74. 4% of the grocery market. The detergent market is dominated by two players, Unilever and Procter Gamble.  Six utilities (EDF Energy, Centrica, RWE npower, E. on, Scottish Power and Scottish and Southern Energy) share 99% of the retail electricity market.  United States Many media industries today are essentially oligopolies. Six movie studios receive almost 87% of American film revenues.  The television and high speed internet industry is mostly an oligopoly of seven companies: The Walt Disney Company, CBS Corporation, Viacom, Comcast, Hearst Corporation, Time Warner, and News Corporation. See Concentration of media ownership. Four wireless providers (ATT Mobility, Verizon Wireless, T-Mobile, Sprint Nextel) control 89% of the cellular telephone service market.  This is not to be confused with cellular telephone manufacturing, an integral portion of the cellular telephone market as a whole. Healthcare insurance in the United States consists of very few insurance companies controlling major market share in most states. For example, Californias insured population of 20 million is the most competitive in the nation and 44% of that market is dominated by two insurance companies, Anthem and Kaiser Permanente.  Anheuser-Busch and MillerCoors control about 80% of the beer industry.  In March 2012, the United States Department of Justice announced that it would sue six major publishers for price fixing in the sale of electronic books. The accused publishers are Apple, Simon Schuster Inc, Hachette Book Group, Penguin Group, Macmillan, and HarperCollins Publishers.  Worldwide The accountancy market is controlled by PriceWaterhouseCoopers, KPMG, Deloitte Touche Tohmatsu, and Ernst Young (commonly known as the Big Four) Three leading food processing companies, Kraft Foods, PepsiCo and Nestle, together achieve a large proportion[vague] of global processed food sales. These three companies are often used as an example of Rule of three, which states that markets often become an oligopoly of three large firms. Boeing and Airbus have a duopoly over the airliner market.  General Electric, Pratt and Whitney and Rolls-Royce plc own more than 50% of the marketshare in the airliner engine market. Three credit rating agencies (Standard Poors, Moodys, and Fitch Group) dominate their market and extend their crucial importance into the financial sector. See Big Three (credit rating agencies). Nestle, The Hershey Company and Mars, Incorporated together make most of the candy made worldwide. Microsoft, Sony, and Nintendo dominate the video game console market. Demand curve In an oligopoly, firms operate under imperfect competition. With the fierce price competitiveness created by this sticky-upward demand curve, firms use non-price competition in order to accrue greater revenue and market share. Kinked demand curves are similar to traditional demand curves, as they are downward-sloping. They are distinguished by a hypothesized convex bend with a discontinuity at the bendÃ¢â¬âkink. Thus the first derivative at that point is undefined and leads to a jump discontinuity in themarginal revenue curve. Classical economic theory assumes that a profit-maximizing producer with some market power (either due to oligopoly or monopolistic competition) will set marginal costs equal to marginal revenue. This idea can be envisioned graphically by the intersection of an upward-sloping marginal cost curve and a downward-sloping marginal revenue curve (because the more one sells, the lower the price must be, so the less a producer earns per unit). In classical theory, any change in the marginal cost structure (how much it costs to make each additional unit) or the marginal revenue structure (how much people will pay for each additional unit) will be immediately reflected in a new price and/or quantity sold of the item. This result does not occur if a kink exists. Because of this jump discontinuity in the marginal revenue curve,marginal costs could change without necessarily changing the price or quantity. The motivation behind this kink is the idea that in an oligopolistic or monopolistically competitive market, firms will not raise their prices because even a small price increase will lose many customers. This is because competitors will generally ignore price increases, with the hope of gaining a larger market share as a result of now having comparatively lower prices. However, even a large price decrease will gain only a few customers because such an action will begin a price war with other firms. The curve is therefore more price-elastic for price increases and less so for price decreases. Firms will often enter the industry in the long run.
Sunday, April 12, 2020
Marketing environment and buyer behaviour Paper The external marketing environment (1 000 words) Choose two environments within the external environment to analyses demographic, socio-cultural, economic, technological, natural, competitive and political and legal (500 words per environment) Provide a definition of each chosen environment and justify in relation to your product (4 marks) Explain how each chosen environment impacts your product, using evidence from your research (business sources) to justify (20 marks) Discuss the opportunities presented for your chosen product in each environment (8 arks) Discuss the threats presented for your chosen product in each environment (8 marks) 1) Political First of all, political factors refer to the stability of the political environment and the attitudes of political parties or movements. This may manifest in government influence on tax policies, or government involvement in trading agreements. Political factors are inevitably entwined with Legal factors such as national employment laws, international trade regulations and restrictions, monopolies and mergers rules, and consumer protection. The difference between Political and Legal factors is that Political refers to attitudes and approaches, whereas Legal factors are those which have become law and regulations. Legal needs to be complied with whereas Political may represent influences, restrictions or opportunities, but they are not mandatory. One of the important aspects that Apple Inc. Just consider is a market and product launching regulations. We will write a custom essay sample on Marketing environment and buyer behaviour specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Marketing environment and buyer behaviour specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Marketing environment and buyer behaviour specifically for you FOR ONLY $16.38 $13.9/page Hire Writer In Europe, many residents do not even have a land line phone system, and the mobile phone is the primary and only) phone number. Thus, the political environment is more possessive Of the cellular standards. This is also one of Apples biggest weaknesses. Keep in mind there are different political systems in different countries that must agree on the same cellular standard. The cellular standard must be transparent to a country that is a monarchy as well as a socialist country. The E has made it clear that the political aim of the governments role in cellular standards is to entertain more competition that shares the same standards. One more issue that Apple must confront is the apparent De facto reductionism of Monika and Ericson. These two companies are extremely important to their economy, as Monika has been mentioned as one of Rupees most important companies. The future is pretty safe for those two telecommunications giants, and Apple will be at a disadvantage if it must wrestle with them. There is an argument that with cellular standard conforming to European standards, US companies such as Motorola and Apple may be at a disadvantage in keeping up with Rupees cellular manufacturers. One can argue that this can be supported by the 2. G release of the phone Europe as opposed to the G standard. Apple can argue the European standards are exclusionary and discriminatory as Apple has invested large amounts of money into R standards. At present, mobile devices based on current US technology are now locked out of the E market since the W-CDMA standard has been converted into a requirement. (Wallis- Brown, Von Hellene, et al, 2000) The development of the phone under two different standards is a burden for Apple. The ELI arguably also protects its two telecommunication giants, Monika and Ericson. Apple is not alone in this fight, as Korean manufacturers such as LEG and Samsung face these burdens. Apple also shares this dilemma with Motorola on IIS soil. However, these competitors are established companies that have introduced product since the early adopter phase of mobile technology. Apple is a late entry in mobile phones. The development of the phone must balance the development of the phone to conform to US standards, E standards, and still maintain its uniqueness that the Apple brand has always maintained. 2) Technological The technological environment refers to new technologies, which create new product and market opportunities. Technological developments are the most manageable uncontrollable force faced by marketers. Organizations need to be aware of new technologies in order to turn these advances into opportunities and a competitive edge. Technology has a tremendous effect on life-styles, consumption patterns, and the economy. Advances in technology can start new industries, radically alter or destroy existing industries, and stimulate entirely separate markets. The rapid rate at which technology changes has forced organizations to quickly adapt in terms of how they develop, price, distribute, and promote their products. The four Ups of marketing are directly affected the moment a new sign is created. New technology is an ever- growing competitive industry based on consumer demand. Consumers want to do everything faster and easier, thus causing companies to combine their technologies into one product. The idea of multi-media device is not new, mobile phones have been able to make calls and access the internet for some years now. With the latest craze of listening to music outside of the car and Disdains becoming a history channel special, digital music; MPH has skyrocketed. With many Pads supporting a Windows based SO, consumers were able to buy a memory arid, load music, insert that into their phone, and listen via Windows Media player. The phone is different because it allows music to be stored directly onto either a 4 or KGB hard drive (Apple Inc. , 2014). The phone uses a new multi-touch display and new software so everything can be controlled by touch. It capabilities of listening to music and watching videos are amazing compared to standard software on Pads and other multi- media phones currently available. The phone capabilities are the same, you just simply touch a name and press call on the display, and there are no buttons to press. The internet allows you scroll web pages while downloading, just like a computer. However, in the international market, if Apple were to enter into Europe, they would be faced with a challenge of accommodating their technology. Rupees largest mobile phone service provider, Videophone, uses G/LISTS technology, which the phone does not support. Phone currently operates on GSM; however rumors have been spread about the possibility of Apple developing two versions of their phone. If a contract between Videophone and Apple was generated and the two versions of the phone were available for OTOH markets, the launch of the phone would be astounding. As technology is growing fast it is a big advantage for Apple because if it continue innovates like today it will be able to keep a pace of the high technology growth in the world. Increasing demand in technology can lead the company to new success. One of the biggest mobile wireless developments in 2008 was the increased availability of G mobile phones, such as Apples phone G. Moreover, Sprint is planning to offer a Woman based G services by 2009. Other mobile providers (including AT T, Verizon wireless, and T-Mobile) are currently purporting new Long Term Evolution (LET) G technology based on the SIMMS cellular standard. Chips are already developed that support both types of G networks and are expected to be included in Notebook computers, mobile phones, digital cameras and other consumer devices. Moreover, the mobile cloud is the recent trend, which includes not only giant carriers and Mobile device makers (Apple, Samsung), but also a full convergent of internet based companies and software giants (Amazon, Google, Face book, Microsoft and more). Apple launched cloud in October 201 1 and this new service stores music, applications, photos, calendars, intact, and documents and wirelessly pushes them to multiple ISO devices, Macs and Windows-based computers (Apple Annual Report, 2011 Apple Inc. Is on top of the market because of investing highly in research and product development. Moreover, innovation has shown big portion of this brand and has shown to pay out (Apple Inc. , 2014). B. Consumer buyer behavior (1500 words) What type Of buying decision is used for your product? Justify your answer by considering the level of involvement and other factors influencing this (10 marks) How might need recognition be triggered for your product? Explain how one factor influences this stage (1 0 marks) How could information search be undertaken for your product? Explain how one factor influences this stage (10 marks) Provide an example of a typical evoked set for your product and describe how alternatives could be evaluated for your product. Explain how one factor influences this stage (10 marks) How might the decision to purchase be made for your product? Explain how one factor influences this stage (ID marks) How might a consumer undertake post-purchase evaluation for your product? Explain how one factor influences this stage (10 marks) Studying consumer attitudes toward brands is of paramount important because thats what comes closest to revealing if a consumer intends to buy the brand in question. The Attitude toward object model is suitable for measuring attitude towards a product category or specific brands. According to this model, the consumers attitude toward a product/brand is a function of the presence (or absence) and evaluation of certain product-specific beliefs and/or attributes. That explains the number that turned up at various launches of the phone across the country. This also explained by the Attitude toward behavior model. This model is designed to capture the consumers attitude toward behaving or acting with respect to an object rather than the attitude toward the object itself. The appeal of this model is that it seems to correspond somewhat more closely to actual behavior than the attitude toward object model. Now this where Apple fails. There are 5 important steps that a consumer makes before they decide upon purchasing a product or using a service. What goes on in their head? Understanding these processes will help with developing marketing strategies targeted to the consumer. Brand awareness plays a huge role in the consumer decision making process. When consumers show an interest in buying a certain product, many of them will follow a decision making process which follows the next steps: problem recognition (unsatisfied need), information search, evaluation of expected outcome, purchase, post- purchase behavior. This process is a guideline for studying the way consumers make decisions, but it is important to remember that they can abandon the whole idea at any stage, and they do not necessarily continue with this decision making process up to a purchase. Consumer behavior is influenced by many things, including environmental and marketing factors, he situation, personal and psychological factors, family, and culture. Businesses try to figure out trends so they can reach the people most likely to buy their products in the most cost-effective way possible. Businesses often try to influence a consumers behavior with things they can control such as the layout of a store, music, grouping and availability of products, pricing, and advertising. While some influences may be temporary and others are long lasting, different factors can affect how buyers behave whether they influence you to make a purchase, buy additional products, or buy nothing at all. The first stage in the buying decision is problem recognition. Problem recognition occurs when a consumer is faced with an unsatisfied need (the need for a more convenient mode of communication) and desires a fulfilled outcome that satisfies this need. Problem recognition is triggered by either external stimuli (advertisements) or internal stimuli (hunger or thirst). Consumers can recognize unfulfilled wants in several ways, for example when an old product is not performing as well as it should, or when consumers are made aware of a new technology that will enhance their current product experience. The core off marketers goal is to make consumers aware of possible unsatisfied needs, and to show the consumer how the product or service will fulfill that need. Look at how Steve Jobs came along with the phone. No one needed it, but he made sure that the phone was something that everyone needed to have. Human beings are social, and they need people around them to interact with and to discuss various issues in order to reach better solutions and ideas. We learned that these social factors typically consist of the consumers small groups, their family, and their social roles and status. We also learned about social roles such as Initiators, Influences, Deciders, Buyers, and Users. These roles play a part within social groups consisting of friends and families in aggravating a buyers hunger for a certain product. The second stage in the buying decision is the search for information and the organization of this information within the individuals frame of reference. The information search involves exposure to different sources, such as promotional material and displays of the product, actively researching the product, or relying on historic information in the consumers mind, such as reconciled ideas about a product or a previous experience (good or bad) with such a product (our personal and psychological factors). Affecting consumer buyer behavior, Psychological Factors, are the consumers own personality is constructed by the unique psychological characteristics that create relatively consistent, lasting behavior in response to their own environment. These characteristics include Self Concept, Motivation and the five motivational needs, Perception, Learning, and Beliefs and Attitudes. In Summary, all Of these factors and stimuli illustrate an important point: nonusers are complicated. Not all buying decisions rely this heavily on the gathering of information, and the extent to which a consumer conducts an information search depends largely on the perceived risk of the purchase. When we are confronted with a decision, emotions from previous, related experiences affix values to the options we are considering. These emotions create preferences which lead to our decision. We are capable of rationally processing information about alternative choices; but were unable to make decisions because they lacked any sense of how they felt about the options. However, for consumers, perhaps the most important characteristic of emotions is that they push us toward action. In response to an emotion, humans are compelled to do something. In a physical confrontation, fear forces us to choose between fight or flight to insure our self-preservation. In our daily social confrontations, insecurity may cause us to buy the latest phone to support our positive self-identity. The third stage of the decision making process, is the evaluation of expected outcome. The consumer is now ready to make a decision based on all the information gathered, and those discarded. The consumer has now developed a set of criteria against which he will base this decision, and will most likely be able to narrow his search down to only a few products. The goal of the marketing manager is to determine which attributes of a product will convince a consumer to buy it. Recent studies have shown that attributes which plays on emotions (such as perceived trustworthiness, perceived comfort, perceived excellence or perceived status) are the ones that weighs the heaviest in decision making processes. This stage of the decision making process is critical, because many consumers are not able to make a rational session by weighing up alternatives, and if they have reached this stager the more emotional consumer has reached an uncritical blindness in which they become obsessed with buying the product. The next step in the decision making process is to purchase the product. The consumer has decided which product to buy, or not to buy anything at all. If he decides to make a purchase, the next step in the process is an evaluation of the product after the purchase. While demographic variables such as income, education, and marital status are important, we will look at gender, age, and stage of life and how they influence purchase decisions. Men and women need and buy different products. They also shop differently and in general, have different attitudes about shopping. You know the old stereotypes. Men see what they want and buy it, but women try on everything and shop till they drop. Theres some truth to the stereotypes. Interestingly the process does not stop at the point of purchase because there is a stage five called the post-purchase evaluation. The process continues even when the product or service is being consumed by the individual or business. So if it doesnt meet your needs or solve your problem o can take action to improve the product or service. Your actions at this point might inform other potential buyers who would be keen to hear about your experiences. The level of satisfaction that the consumer will experience will depend largely on how many of his expectations were met. Lets look at an example based upon buying a new Phone. The first stage is likely to be that you have a need for communication or access to the Internet, or problem because you cannot interact with friends using social media. So the second stage is where you speak to your friends and surf the Internet cooking at alternatives, which represent stage two or your information search. As a buyer you might visit a local phone store and speak to the sales staff to help you complete stage three, I. E. Your evaluation of alternatives. Stage four is the selection of product and you go and make your final decision and buy your Phone from a local store or using an e-commerce website. Stage five involves your post-purchase evaluation whereby you use the phone and have a positive, negative or mediocre experience of the product. If it doesnt satisfy your needs you take action and more importantly youll tell ethers of your problems. If youre pleased with the product, you will tell your friends and this will influence stage two (their information search) when they decide to buy an Phone.
Tuesday, March 10, 2020
Eating Dsiorders essays Located forty minutes west of Cincinnati is Miami University. Only 16,000 students reside at Miami University, yet we boasts two professional basketball players (Wally Szerbiac and Ron Harper), a top twenty hokey team, two consecutive synchronized ice-skating national championships, and who can forget the second most beautiful girls in the nation (according to playboy magazine). However, what we should be rated for is our percentage of students with eating disorders. Every afternoon one may bear witness to dozens of girls, already abnormally thin, running all over campus. If you visit Miamis recreational center, the amount of girls multiplies. While visiting the recreational center one will see countless girls running on the indoor track while on the endless waiting list to use a treadmill. Once finished these women do grab a bite to eat, a piece of fruit, a fat free yogurt, and, if they feel like pigging out, a salad. And even when students return to their dorm they still cant avoid the disorders. While walking through a female corridor one will find room after room with Billy Blanks on the television and Buns or Abs of Steel at work. Unfortunately it doesnt end with this. In the worst cases you may hear awful noises of girls vomiting coming from the restroom. Is this the picture of college life depicted in movies or recommended to us by our high school counselors? It should, because this is Miami University. Although few admit it, this campus has one of the most distorted views of body image of any college. I interviewed fifty females from my dorm concerning their feelings toward their bodies. 80% revealed that they thought they were fat. When in actuality, only ten percent qualify as clinically overweight. 72% informed me that they exercised 4 or more times a week. When asked why, most responded, to control my weight. 54% take it a step further and limit their food intake in addition to exercising. ...
Sunday, February 23, 2020
Accounting for Decision Makers -Discussion Question - Assignment Example The major weakness of Rio Valley involves low levels of net income. In 2014, the net income was $1,425,000. This is very low when compared to the revenue amounts in 2014 of $5,100,000. The low net income explains that the operating expenses form a huge proportion. The company should thus adopt strategies that ensure financial efficiency. One example entails, adopting production technology that minimizes labor requirements, and thus reduces labor costs like salaries, motivation, retirement, and training expenses. One common size measure utilized in analyzing dollar amounts is the percentage increase in sales, based on 2010 as the base years. The sales level in 2014 is $5,100,000. This sales level illustrates 127.5% increase in the 2010 value of $4,000,000 (Al & Wayne, 2015). 127.5% of $4,000,000 = $5,100,000. El Paso should thus invest in Rio Valley, due to the sales revenue increasing trends. However, adequate strategies must be utilized in minimizing production expenses and also operating