Describe using examples how this process might be undertaken. What are the characteristics of a successful market segment? What are the keys to effective positioning? In virtually any market, if different segments can be clearly identified, specific products with specific marketing programs can be developed to meet both the physical needs of customers and also the emotional needs that customers attach to products and services. Effective marketing programs are built on a platform provided by the marketer's tools of market segmentation, target marketing, and product positioning; the three decision processes are closely linked, having strong interdependence, and all must be implemented if a firm is to be successful in managing a product-market relationship. Market segmentation is the process by which a market is divided into subsets of customers with similar needs and characteristics that lead them to respond in similar ways to a particular product offering and marketing program. It is important as most markets are heterogeneous in terms of benefits anted, purchase rates, and process & promotion elasticities so the response rates to products and marketing programs will differ. The critical issue is to find an appropriate segmentation scheme that will facilitate target marketing and product positioning. Markets can be segmented on the basis of demographic factors (who the target customers are) including age, sex, household lifecycle, income, occupation, education, and race/ethnic origin. Geographic factors (where the customers are) including region, city, population densities, and climate can also be used. Furthermore behavioural factors (what the customers do) can be used in the segmentation process where the benefits sought and the choice criteria used are evaluated. Thus the market segmentation procedure involves surveys on customer motivations, attitudes, and behaviour, followed by an analysis of the appropriate factors that should give a profile of consumers and the level of attractiveness of the market. Ideally...
pages: 6 (words: 1402)
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added: 01/20/2012
Does your company employ a Personnel Management (PM) or Human Resource Management (HRM) approach to managing people? If it employs an HRM Approach, would you describe it as "hard" or "soft"? If it uses a PM approach suggest ways in which it may ad Storey (1995,p1) states that people are the most important asset to a business. If this is to be believed, choosing the right approach to managing people is critical to the success of an organisation. Today it is widely recognised that there are two ways to manage people, Traditional Personnel Management (PM) or Human Resource Management (HRM); however, in many organisations the Human Resource department itself is not clear as to the differences. To complicate matters further, HRM can range between two approaches, hard and soft, which must be differentiated between to define an organisations approach to the management of people. In this essay I will discuss the theories surrounding the differences between HRM and PM and the criteria that defines HRM as either hard or soft. I will then analyse The National Centre for Product Design and Development Research (XXX) to identify its approach towards the management of its people History The middle to late 1980s saw the emergence of Human Resource management firstly in the US and then shortly afterward in the UK. This new style of management provoked mixed reaction from writers at the time, from to Torrington et al. (1991,p3) who suggests that it may be seen by line managers as a way that senior management can push more responsibility onto them with little training or reward. This disparity could be due to the confusion of what differentiates HRM from PM. Discussion of literature Among writers on the subject of Personnel and Human Resource management there seems to be some uncertainty and inconsistency as to what classifies organisational behaviour...
pages: 6 (words: 1581)
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added: 12/22/2011
Introduction Selecting perfume is a rather prejudiced process. Given that a brand and its image are highly respected internationally, the acquisition for its newly launched perfume depends upon an individual's preference of scent. Waiting for consumers to approach, test and smell, be satisfied and pay for it is neither desirable nor affordable. A marketer certainly has some more to do. The following paragraphs illustrate how a marketer of a luxury cosmetic, from defining his target customers to understanding their consumption decision-making patterns, develop and implement a rewarding marketing strategy. Assumption Assumptions are made on a luxury cosmetic brand and its new range of perfume targeting a new segment in Hong Kong market. Estee Launder, having historically represented an impeccable quality taste and style, shares its expensive and elegant image with its consumers who are mature, feminine and attractive. A new range of perfume, namely, White Linen, and its extended product line of Body Crème and Bath and Shower Gel is to be launched. The target customers are, unlike its usual ones, young and adaptive office ladies. As such, a separate advertising and marketing strategy is adopted. Being a marketer promoting the captioned product range, it requires him to appreciate how people make their purchase and consumption decisions. A Consumer Decision Process (CDP) model (also known as EBM model) (Blackwell, Miniard & Engel, 2000) is employed to ensure the efforts of marketing strategy will not be wasted. Understanding the product The acquisition for perfume is based on selective need recognition as it is usually regarded as a non-necessity item comprising differentiated brands in the market. The Estee Launder's White Linen enjoys its strong brand equity as well as well established sales channels. It is considered as a high-involvement product because it gives benefits to those who are conscious about their self-images. Estee Launder has created this...
pages: 8 (words: 1936)
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added: 11/11/2011
"Old habits die hard". William Faulkner's "A Rose For Emily" is an excellent representation of this age-old saying. The story was written around 1930 by Faulkner who was born and raised in Mississippi, and takes place in a southern community which was reluctant to adapt to the rules and regulations set forth by the Northerners after the Civil War. The story plays with ideas of Southern pride, dignity of the family, and most of all human nature. Miss. Emily Grierson is the focus of the story, and through her bleeds opinions and insights that Faulkner undoubtedly drew from his own community and family. Miss. Emily came from a family of prestige but was seen by the community as a family who "held themselves a little too high for what they really were" (Faulkner 4). After Miss. Emily's father's death she was reduced to a pauper which pleased the community. Perhaps Faulkner's family experienced a similar alteration in social status when his grandfather sold a profitable railroad business to the Illinois Central for a price much below face value. William Faulkner's father did not agree with the sale and became very distressed after it happened. The railroad was said to be the center piece of his life and the "foundation of his self-respect" (Williamson 143). The family suffered through another financial setback when Faulkner's father's livery stable business was destroyed due to the sudden appearance of the factory made automobile (Williamson 170). In "A Rose For Emily", statements or ideas of Southern social structures seem to take a back seat to the insight provided of the Southern woman. Historically southern women are known to be obedient, elegant, and respectful ladies, who depict all that a woman should be. "The social role of the lady both illustrates and defines an interlocking system of class,...
pages: 4 (words: 973)
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added: 12/30/2011
A New Approach 2 For all of the reasons that I should finish college, only a few are common. Although they are no less important, the common reasons only differ slightly from person to person. For me, money, occupational improvement, and self-worth are all factors but not enough. People rarely truly understand what really inspires them. In fact, asking most people will almost always result in a monetary response. If that were indeed the case, many of our habits would be different. Our spare time would certainly be spent differently than it is now. I am inspired by how others see me, so my strongest reasons identify with that. Networking, social interaction, being a role-model, and satisfaction play a much larger role here. If money is the measure of all value, then of course it will play a part here. For the past 10 years, I have worked in the information technology world. The money here is generally better than in most fields and the stability is solid. You can work virtually anywhere… no pun intended. As in most fields, eventually moving into a middle-management position without a college degree will signal the end of your upward mobility. You can know everything there is about your field, but unless you can convince upper management that you can control people, resources and direction within your area of expertise, you, along with your salary, will have peaked. A New Approach 3 Since the bills never stop, making money becomes a game of shaving margins to increase profit. It is not fun and certainly not stable. While some people will choose a second occupation, most will agree that more education will push you further in your current field. Money, while not an inspirational motive, is still the popular opinion. Moving up the corporate ladder is always the general...
pages: 3 (words: 809)
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added: 11/23/2011
1a) Select two Christian denominations and explain their approach to Holy Communion. Compare and contrast the main features of their celebrations. I have chosen to write about the Roman Catholic and the Baptist Church for the comparison and contrasting of how two different Christian denominations celebrate Holy Communion. Almost all Christian traditions have Communion services at which the bread and wine are taken in memory of Jesus' sacrifice at Calvary. Christians understand Communion in different ways depending on how they interpret the celebration of the Last Supper. For many Christians, Communion is the central ceremony of their worshipping life. It is a memorial of Jesus' last meal before he died. By sharing a meal of bread and wine, Christians remember the saving power of Jesus' death and resurrection as members of the family of the church. Jesus shared a meal with his disciples on the evening before he died. Christians call this meal 'The last supper'. It took place in an upstairs room in a house in Jerusalem. Jesus was a Jew so this Passover meal would have all the symbols and gestures of the ancient ceremony but Jesus changed this ancient ceremony by offering up his body and blood. 'This is my blood which is poured out for many, my blood which seals God's covenant'. Jesus is saying to his disciples that his work is nearly complete and that he is going to die. The next time he will celebrate with them will be at the Messianic banquet at the end of time. 'I tell you, I will never again drink this wine until the day I drink the new wine in the Kingdom of God'. At the Last Supper Jesus was celebrating a Passover meal and he gave it a new meaning. Now, when we hold a Communion service it is like a new...
pages: 9 (words: 2467)
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added: 02/17/2012
RAD approach is the development of software with the use of existing tools and codes to quickly create a program with minimal personnel and low budget. In this situation, the use of existing tools and codes was necessary, a small team was required, and software development lasted a short period of time, all of which characterise what the RAD approach is. The use of existing tools and codes characterises the RAD approach. In this situation Fusion MX was used to develop a website. Fusion is an object orientated program which provides a graphical user interface to quickly generate a website. Icons on the left allowed easy input of text boxes, images, banners, links, etc. The graphical nature of the program simplifies the process of typing in the instruction required to actually insert each object. Hypertext Mark-up Language was used. The library of existing codes allows easy input of many instructions, rather than the use of machine language. Personnel required for RAD approach is small, usually the developer and the user. In this case 2 developers and 2 researchers were brought into use. The 2 developers were required to directly input data into Fusion and to input different styles, images, links, etc. The use of 2 developers was more efficient the just the one and also more productive to meet the short deadline. The researchers also worked concurrently with the 2 developers to keep a steady flow of information going in to maximise efficiency and productivity. The short time set out for this software development required for efficient work to be achieved. The use of existing tools and codes, and 2 developers and 2 researchers decreased the time necessary for creating the website. If the time were to be longer then it would not be a RAD approach, because the deadline is two weeks...
pages: 2 (words: 377)
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added: 01/18/2012
Some of the topics this surprisingly intelligent film takes on are peer pressure, violence, pressures of an impoverished urban environment, adolescent pride, black/white conflicts, interracial relationships, single teen parenthood, racial stereotypes, racial prejudice, absentee fathers, loyalty in friendships, and more. While failing to adequately address any of these issues, the film makes it known that they indeed exist, and are not to be ignored. The movie proposes that kids, whether suburban whites or inner-city blacks, have the power to determine the course of their lives using determination and talent. The characters are intelligent and almost believable, and are constantly questioning themselves and their social environment in sometimes very realistic ways. The film deals with both real and ideal aspects of race statuses and relationships. While Derek and Malakai's situation can be very believable, the fact that Sara immediately fits into a society where to say she is a minority would be an understatement is somewhat unrealistic. Taking a further look at Malakai's character, it's not unheard of for someone of his status and poor/criminal background to feel that they are incapable of doing anything else with their life. The "happily-ever-after" ending is possible, however not very probable; for what appears to be the only interracial couple in the film to live together in peace and harmony is highly unrealistic. The movie idealistically shows and implies only few instances of conflict as a result of their relationship, whereas in reality, especially in a predominantly black society, there probably would have been more controversy surrounding their relationship. The film both supports and denies race relations as described in the text. As mentioned earlier, the movie had a habit of idealizing interactions between Sara and her dad vs. the rest of the society. Derek and Chenille take Sara to "Steps", a hip-hop club...
pages: 2 (words: 482)
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added: 12/18/2011
Describe what is meant by 'bottom up' and 'top down' when applied to offender profiling'. Offender profiling is a set of techniques used to try and identify perpetrators of a serious crime. Offender profiling will tend to use the expertise of a professional psychologist, although profilers come from different types of backgrounds because there is no specific training for the job. The profiler will draw on his knowledge of personality theory to attribute personality traits to the offender. The profiler will consider many elements when carrying out a profile, such as the crime scene, the offence, the sex of the victim and offender, body deposition site and the interaction style. These are just a few of the issues the profiler will consider. There are many different definitions of offender profiling today; according to Turco (1993) offender profiling is 'the preparation of a biological sketch, gathered from information taken at a crime scene, from the personal history and habits of a victim, and integrating this with known psychological theory'. However, other psychologists are much more sceptical of offender profiling, for example according to Harrower (2000), offender profiling is seen as the sexy speciality of forensic psychology largely as a result of Fitz in Cracker (TV drama). But the poetic license allowed in that TV series hasn't been particularly helpful to psychology as a discipline'. Offender Profiling is popular both in the UK and the USA, but like many things the UK and USA use their different methods. The USA uses what we call a 'top-down' approach and the UK uses a 'bottom-up approach', which contrast quite significantly. The 'bottom- up approach' is where information is gathered and conclusions are drawn strictly from the evidence, with previous knowledge or experience not being used. Boon and Davies (1992) suggested that the British approach to offender profiling is...
pages: 7 (words: 1882)
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added: 02/01/2012
Report to Owners of Ruffians Terms of Reference This report is to assess the appropriateness of the accounting methods Saskatoon store used and whether the accounting methods used by the Saskatoon store were fair in the context of the contest. Because Shmevan has 75 stores in the chain, it is important to use a recognized standard as the basis for preparing the statement. Accordingly, I recommend using GAAP. While GAAP are not necessarily the best criteria to settle the unsolved issues, GAAP are widely known and recognized. And basically all recommendations made in this report are supportable in terms of GAAP, fairness, and accrual accounting. The objective in preparing this report is to come up with reasonable and justified assessments for the controversial accounting issues that Saskatoon store has in its measurement of net income in year 2004 and 2005. Issues The issues to deal with in this report are: the revenue recognition method, inventory valuation method, inventory write off, commercials cost, advance commission payment in 2004, gain from sales of capital assets. Revenue recognition: There are two revenue recognition issues that must be addressed: the critical event approach to recognize revenue in general, the critical event approach to recognize revenue for promotion sales 1. The critical event approach to recognize revenue in general The Saskatoon store normally recognizes revenue when goods are delivered to customers. Delivery of goods is most common applied critical events in critical event approach to recognize revenue. At this point, the customers have owned the goods and most efforts required by Saskatoon store has been completed. Most costs are known at this time. Collection from the customers is still an open question. Consider Saskatoon store is not new in the business, we can reasonable assure that the amount will be collected. This alternative meets the four criteria and in generally it is reasonable. 2....
pages: 3 (words: 672)
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added: 01/27/2012