The advertising of condoms Term Paper Example | Topics and Well Written Essays - 5500 words

The advertising of condoms - Term Paper Example Condom and pills are equally popular as methods of contraception as per data collected by the Office for National Statistics (Daily Mail, 2009). This was the outcome of a  £5.2 million campaign by the Department of Health conducted with the view of getting more women to carry condoms. Even in developing countries like Thailand condoms are 90% effective in preventing HIV transmission (Hearst & Chen, 2004). However, in countries such as Botswana and Cameroon the sale of condom rose but so did the incidences of HJIV transmission, thereby suggesting that condom use does not reduce HIV and AIDS transmission. No details were available of who used the condoms. Thus condom use might be high among the general public and low among those in high risk. Again, inconsistent use leads to higher risk of HIV transmission. Condom promotion can be successful among commercial sex workers although promoting its use to the general public is difficult. Several condom-promoting strategies have been employed such as free distribution among sex workers and lowering prices but the most successful strategy has been social marketing. In Uganda use of condom was very low until social marketing began in 1990s. The developed and the developing countries had the same response to the promotion of condoms – it would encourage sexual activity with condoms rather than encourage abstinence. This attitude affects advertisement design in this sector. 2. Social marketing Social marketing uses the four marketing Ps – product, price, placement and position – as is used for generic products. For a global strategy of the control of HIV social marketing of condoms has been adopted as the key element (Cohen, Farley, Bedimo-Etame & Scribner, 1999 ). In the US when condom was freely distributed and readily visible and accessible through health care facilities, the use of condoms increased particularly among those at a high risk of HIV and STIs. Condom social marketing in the US was found to be feasible, acceptable and a promising intervention that aided in reducing the number of incidences in STDs. There was relatively small opposition to the program from groups that were traditionally opposed to condoms. Social marketing for condoms is used both for HIV prevention and family planning. Selling condoms falls under social marketing which is not about coercion or inducement. The social marketers try to induce change by applying the principal of exchange (Stead, Gordon, Angus, & McDermott, 2007). It recognizes that the change must bring clear benefit to the customer. Social marketing also involves stages such as targeting, positioning and formulating the marketing mix as generic marketing. Social marketing is concerned with welfa re of the society and is not meant for the benefit of the organization. This is the essence of social marketing. Social marketing has also been defined as the systematic application of marketing concepts and techniques to achieve specific behaviour goals (Lefebvre, 2011). In developed countries social marketing takes the route of persuasive communications for

Article review for managerial accounting Example | Topics and Well Written Essays - 1000 words

Review for managerial accounting - Article Example Biolea believes in self-reliance and innovation. Biolea’s operations are based on solid scientific methods of agriculture of Olive groves in Crete and provide an untainted quality of olive oil to its customers. Biolea’s range of products includes olive oil, and its varieties like Lemonio, Nerantzio. Biolea also supports agro-tourism, wild life, and renewable energy. Fixed Cost, Variable Cost and Mixed Cost – Examples and Their Significance For running its business operations, Biolea incurs fixed cost, variable cost as well as mixed cost. Fixed cost of Biolea would include cost of salaries of supervisors, depreciation of factory machines, etc. Variable costs of Biolea would include cost of olive groves, cost of shipping the olives. Mixed cost includes cost of supervisory salaries for varying levels of production, cost of natural gas for varying levels of production of olive oil. ... Bottled from the beginning, the natural mineral water sold by Evian reduces any chance of impurity and ensures that the customer enjoys purity as well as taste. Water plays a key role for pregnant women and hence this segment of mothers forms a large base of Evian’s customers. Evian’s water plays a key role in baby’s development as the fetus at 25 weeks is 90% water it. Evian’s dwindling water supply is due to increase in population and the striving of people especially in the developing countries to drink clean water today and tomorrow. To ensure that customers get pure and clean drinking water throughout 24 hours, Evian has designed a PET bottle that is easy to carry. Evian provides customized bottle of natural water for specific purposes of sports, travel and tour, etc. Fixed Cost, Variable Cost and Mixed Cost – Examples and Their Significance For running its business operations, Evian incurs fixed cost, variable cost as well as mixed cost. Fixed cost of Evian would include cost of salaries of supervisors, depreciation of factory machines, etc. Variable costs of Evian would include cost of natural water bottles, cost of shipping the bottles. Mixed cost includes cost of supervisory salaries for varying levels of production, cost of raw material for varying levels of production of bottle mineral water. The three types of cost listed above for Evian are a typical example for the reason that items listed under fixed cost are fixed expenses to be incurred by Evian irrespective of the level of production of bottled mineral water, items under variable cost would vary as the production level of Evian would vary, items listed under mixed cost of Evian have a fixed component irrespective of Evian’s

A deeper understanding of the meaning of charity Essay Example for Free

A deeper understanding of the meaning of charity Essay At the beginning of the semester, I was asked to come up with a project for New Testament class that would put what I was learning into a direct application to my life. I asked myself, â€Å"what would make the most positive difference in my life at this moment†? One of the things I struggle with the most is that I think I can generally be too cynical, judgmental, and selfish in my interactions with other people. So, I decided I wanted to learn more about the topic of charity as I studied the New Testament this semester. To know about charity first requires a serious study of it. As I read the assigned passages in the New Testament, I studied them with an emphasis on charity. I would think about each verse I read and try to relate it to charity in some way. Reading the scriptures in this fashion helped me gain insights on charity in every chapter that I studied. I especially enjoyed the â€Å"Becoming QA† assignments because it helped me to ask specifically what I could learn about charity from a given chapter. I continued this pattern for the rest of my scripture study by asking myself inspired questions about how the people in each chapter showed charity (or lack of charity) for one another. For example, reading about Joseph’s reaction to Mary’s unexplained pregnancy in the first chapters of Matthew made me ask myself how he could have had that much charity for his fiancà ©e – Joseph would have naturally concluded that Mary had committed adultery, as what another way could she have gotten pregnant? How did he not freak out? This would have been such a difficult trial for him. After reading a few quotes from Elder James E Talmage, I learned that he loved his fiancà ©e so much, and his faith was so strong, that he immediately believed the angel that came to him explaining the truth. His faith in God led him to have charity for Mary. As I studied charity throughout the semester, I started to understand it better. Understanding bridges the gap between a belief (and action) and simple knowledge. My study of charity helped me know what charity is and how people express it, but I lacked something that would help me truly believe in it. This stepping stone came through prayer and pondering. The Spirit taught me why charity is important for me to obtain as I prayed about what I studied and thought deeply about what specific changes I needed to make in my life. The understanding that I gained from charity led me to a belief. Belief came for me when I took what I had learned and acted upon it. Putting my plans for service and kindness (that I had decided on through pondering and prayer) into action led me to believe that charity is one of the most important principles of the gospel, that Jesus Christ has charity for every one of us, and that I can have charity for my brothers and sisters too. This was the most fundamentally important step in the process for me. When I met the missionaries’ investigator Clarence, I felt genuine sympathy for his family’s problems. I helped them pay for groceries on one occasion when they didn’t have the means, and I had no expectation of them paying me back for it. Although Clarence had every intention of doing so, he wasn’t able to reimburse me before he moved away, and I was surprised to find that I wasn’t disappointed at all. A basic knowledge and understanding of charity would mean that I knew intellectually that I shouldn’t expect anything in return, but because I believed the principle of charity, I felt in my heart that doing the right thing means doing it solely for the benefit of others and nothing else. I felt the Spirit strongly as I served Clarence and his family – and that was all the confirmation that I needed. Change has come into my life this semester as I have come to know, understand, and believe in the principles of charity. Where previously I would look the other way or ignore someone who needs my help, now I am actively on the lookout for people that I can assist I have started looking forward to finding opportunities to show charity to others.   The studying, question asking, and application of my understanding and belief has changed me as an individual and brought me closer to my Savior, Jesus Christ. I have a coworker who can get on my nerves at times. Our personalities clash more than most, and the frequent jokes or comments that he makes towards me or things that I like can be hard for me to deal with. Due to this becoming project, my patience and my empathy for him have increased quite a bit. I find myself brushing off comments that would have bothered me a few months ago. I ask him questions about his interests and they lead to normal conversations. These changes came naturally out of the application of my studies, and they were totally unexpected. It’s a big deal for me to be on good terms with my coworker! I really enjoyed working on this project this semester. I have felt a change in my interactions with others – both in my thoughts and in my external actions such as conversations and service. I believe so strongly that it is possible for every person to develop for others a measure of the love that Christ feels for each of us.   I have a long way to go to get to where I want to be, but I am excited about the changes that I’ve felt so far as I have tried to follow the example of my Savior.

Harlington Hotel Business Plan Tourism Essay

Harlington Hotel Business Plan Tourism Essay Critically review the hotel industry, apply strategies, to research and listen to consumers needs and wants. This would have a specific focus on retaining consumers, and providing a strategy of overcoming predicted challenges and to develop realistic financial assumptions and financial plans. The business is to be a new medium size hotel of modern services and facilities. The design of the hotel is to have 60 rooms, reception, waiting lounge, one restaurant, two function rooms, two state of the art conference rooms, one bar, and an indoor swimming pool with a gym. The other side of the business is also having links with the local theatres and as a promotion, those of which stay with us can get tickets to see different shows at half price. The hotel industry is worth just over $30 billion within the UK and has been on the up since 2003. Majority of the people who stay within the hotels is domestic tourists. According to Data Monitor (2007) The UK hotels and motels industry generated total revenues of $34.1 in 2007, this representing a compound annual growth rate (CAGR) of 5.7% for the period spanning 2003-2007. Under the market research conducted 54% of the people asked would stay at a hotel with the offer of 50% per cent discount on theatre tickets, , this shows there is a market and a need for this kind of business as being innovating and new. Two types of research will be conducted. A qualitative and quantitative approach. This will build a foundation and gain an in-depth study of consumers needs and wants for the business. According to Gummesson (2000) an organisation acts in the reality and consists of people. This suggests when gaining a study of consumers needs and wants the business needs to see that people are not just statistics but also they are the ones whose information, can help change the operation of the business in real-time. The two forms of research is Interviews and questionnaires. Research helps to give a variable, and variety of sources to analyse, helping the decision process. Research is the systematic and objective process of gathering, recording and analysing data for aid in making business decisions (Zekmund, 1991). It is essential to have a clear understanding of the philosophical basis for the research strategy selected and this helps to provide the researcher with clarification, focus and consistency of research design. this will be dependent on the research design and the types of evidence we collect (Hines, 2000). Questionnaires and interviews are effective because Studies depended on interviews and questionnaires for their data .. Using questionnaires and interviews obtained statements about opinions and feelings.. Interview behaviour is a form of social interaction and should be analysed accordingly. Verbal data has been made the keystone of contemporary social science (Foddy, 1996) Interviews and questionnaires are highly relevant because it will help identify, if the business will be viable and this type of research is non-expensive. Small firms can benefit from low cost qualitative market research techniques to determine achievable advantageous marketing strategies (Goodman, 1999). Confidentiality of data is important; ensuring persons taking part are aware of what the project is. Researchers have a moral obligation to maintain the confidentiality of the data. In this respect the anonymity of the respondent is crucial and should be respected, by the researchers prior to the collection of the data (McKenna, 2006). 4.0 Industry Analysis Market size The market the business is entering is extremely large as the business is not only going have to compete with hotels, but also other venues of accommodation. This would include campsites, B Bs, holiday centres i.e. Centre Parks and theme parks accommodation e.g. Alton Towers. The data provided by Visit Britain (see appendix 1) there is still a variable market for the hotel industry, as it is showing 23% per cent of tourists staying in hotels within the UK compared to the other forms of accommodation. This percent shows hotels are second choice as 48% would prefer to stay at a friends or relatives house. The business needs to reach out and to be different in order to boost the percentage for the hotel market and lower the FR (friends and relatives) percentage, by providing a high quality level of service and amenities which will outperform the comfort of FRs. Trends within the market The trends of the consumers staying within the UK, the largest amount was mainly for a holiday. According to Visit Britain (2009) it was the largest since 2000 with a 33% increase in 2007. But there has been a decline as in 1995 the numbers of visitors has dropped from 44% to 33%. For VFR there has been an increase since 1995 from 20% to 30% (Visit Britain, 2009). VFR is the only one showing growth within the market, since 1999 it has had an increase of 30% in total but they are not contributing to the accommodation sector (Visit Britain, 2009). Visit Britain (2009) states Business visitors are generally a lucrative target- spending on average  £126 per night,  £514 per visit, and staying largely in paid accommodation (68% in hotels/Guesthouses) Market analysis SWOT analysis This technique provides a framework that enables an organization to assess their position within a market in relation to the competition (Page and Connell, 2006). Strengths of the business is having a variety of rooms, several conference rooms, which are hi-tec, high quality service, training programmes for staff and effective strategies in place. This will help to retain consumers and with research on consumers and competitors, the business will be able to enhance finances. Firms that generate disseminate and meaningfully respond to market intelligence and planning inputs are likely to enjoy enhanced financial performance. (Jaworski and Kohli, 1993). Weakness of the business is mainly signage, as it is not cheap and processes though the council can take time. Other weaknesses are finance. The business will be seeking finance from banks and investors, to help start the business. Such firms, which generate valuable knowledge about both customer preferences and competitor intents by integrating planning and intelligence inputs/views, can optimize the fit between their capabilities and external opportunities and thus achieve superior performance (Novicevic et al, 2004) Opportunities for the business is developing links with other attractions, to help out in further projects within the town especially with the lead up of the 2012 Olympics as this will help to bring in more custom an dalso benefit the local attractions. The Euro is becoming stronger against the Pound forming an era of an affordable England for international tourists, which helps to have the opportunity of develop a good financial stance within the market. According to Day and Nedungadi (1994) the opportunities are intended to provide options for the firms to exercise in order to maximize the fit between its capabilities and future opportunities. Threats for the business are the competition as they will up their game to ensure that a new business does not succeed, especially within a recession. The local authority will be a threat via planning permission may not be given for certain development plans. The idea of these threats is to acknowledge them until resources allows them to be minimised. According to Liedtke (2000) synthesizing process creates value, not only in aligning components, but also in creatively re-arranging them. PEST analysis Political issues for the business is ensuring all licences required are put into place, this includes selling of alcohol, health and safety fire exits, supervision of swimming pool, CBR checks, hygiene certificates, different licences for opening and closing times of facilities. Grants and funding is also an issue as government have made several ways to get a hold of funding for businesses, via the banks. For example, executives evaluating potential mergers or acquisitions must consider antitrust suits and other legal matters, and political issues in addition to financial aspects (Keeney, 1982). Economical issues for the business getting a hold of loans from the banks, but a main concern would be interest and inflation rates, after the current economic climate of the recession, causing unnecessary leakages within the finance budgets of the business. Future implications of alter- natives now being considered should be accounted for in the decision-making process (Keeney, 1982). Sociological issues for the business is more people are staying at FRs more and cheaper holidays are making it harder, therefore gathering and analysing data is imperative to success, for the business. In any case, the process of obtaining and combining the available information is a difficult task that requires balancing all the pros and cons (Keeney, 1982). Technological issues for the business are costly when technology advances are made, and systems have to be updated. This involves changing all computer systems, reprogramming, and retraining of staff. Different individuals, however, have expertise in disciplines such as economics, engineering, and other professions which should be incorporated (Keeney, 1982). This can be offered by having use of the internet, and having a website for bookings, and information about the company and what the business is about, and use information systems within the business. 5.0 Presentation of findings 5.1 Interview overview (To view full analysis see appendix 6) Both of the hotels use different strategies, the Royal hotel uses Revenue management and the Walton park hotel uses a Blue ocean strategy. This is defined as untapped market space, demand, creation and the opportunity for highly profitable growth (Kim and Mauborgne, 2005). The hotels agree, the hotel market has changed, as consumers are becoming lazy and are booking rooms later and later. Customer loyalty is no longer a priority for the market, but the internet has also made this change as it is easier to compare prices, and standards. The Royal hotel has large functions and weddings occurring they have to be able to plan about three months in advance especially with the strategy of RM. Both of the management from the hotels attend conferences to help with new suggestions and the running of the business. For gathering information they use questionnaires which helps to have target market information updated and services can be improved, but Royal hotel says if even though they use questionnaires they are very short answered, and some will give exceptional on very thing which does not help the improvement of the business as they need to have constructive criticism. (Royal Hotel and Walton Park Hotel, 2009) 6.0 Consumer analysis 6.1 Target market identification The research conduct uncovered the target market being C1, C2 and Ds using demographic profiling. The reason for this is because they are more incline to stay in a non-expensive hotel, with a variety of facilities offered, and also due to Weston-super-mare being central, via the motorway and different transport systems available. We are well-served by the M5, mainline railway and Bristol International Airport (BIA) and have an efficient and comprehensive public transport network (North Somerset, 2009). 6.2 Consumer needs assessment Within the business the consumer continuously needs to have the highest level of service. For service organisations the interaction between front-line personnel and the customer is crucial as they aim to create high quality service encounters (Nickson et al, 2005). When providing a high level service for the target market, everyone is different; therefore the needs are not going to be the same, for each person, delivering superior customer value and satisfaction are crucial to the competitive edge of a firm (Kotler and Armstrong, 2000 Weitz and Jap, 1995). For example certain aspects will need to be in place within the business for those who have disabilities, young families with baby changing facilities, those who are diabetic. Many different concepts need to be taken into consideration, for different consumers, the more efficient of establishing customers needs then a good reputation can be established very quickly for the business. Deng (2008) states Customer satisfaction increases customer loyalty, reduces price sensitivity, increases cross-buying and increases positive word of mouth. 7.0 Strategic implementation 7.1 Blue Ocean and Focus strategy A Blue ocean strategy is a way of breaking away from the industry boundaries, going beyond the known and entering the unknown. Kim and Mauborgne (2005) state Blue oceans, in contrast, are defined by untapped market space, demand creation, and the opportunities for highly profitable growth . Most are created from within red oceans by expanding existing industry boundaries. This is applied to the business as having a link with the local theatres is a new and innervating idea, as no other hotel provides this type of service. The business is going into an area which has not been explored before. With this strategy in place for the business, profitability will be more inclined, as the research conducted showed there is a market for it. Companies that create blue oceans usually reap the benefits without credible challenges for ten to 15 years, as was the case with, Southwest Airlines and CNN. Creators immediately attract customers in large volumes (Kim and Mauborgne, 2004). Using Porter generics strategies of a focus strategy this interlinks as the blue ocean strategy for the business needs to focus on its consumers and adapt the products and services to meet the target markets requirements. Using the focus strategy not all consumers are going to want to go to the theatre, therefore using the focus strategy, and opportunities available the business will be able to develop further links with other attractions. An organisations knowledge capabilities determine its effectiveness. As the underlying knowledge processes are highly dynamic, the capabilities used in performing those processes must also be dynamic (Dawson, 2000). 8.0 Management and frameworks 8.1 Management Within the business there will be three sets of management and one general manager. (See appendix 8 for structure). Each manager is to an effect to manage, delegate and organise the department they are in charge of. Meetings will take place every morning for a, debrief followed by an official monthly one. 8.2 TQM framework applied TQM is not an easy process to be applied to an organisation as it can be quite complex. Most business organizations start the implementation TQM programmes with lots of vigour, enthusiasm and perhaps even excitement. The more they move forward with their attempts to change the culture of business thought TQM, the more they realize that it is a hard and very painful process (Zairi, 1994). TQM is a philosophy, as consumers demand it in different ways. This includes the following: Quality of products/services; speed and reliability of delivery; price; innovation and differentiation; and professionalism (Zairi, 1994). For TQM to work, the business is going to ensure all staff having training sessions, and three month appraisals to ensure the service being provided by the staff are to high quality standards. Ensuring there is always a member of staff available for information about the hotel and the surrounding areas, and the reliability to speak to management to sort any issues quickly, effectively and efficiently. Having the opportunity to develop connections with other attractions, as returning consumers may get bored of the same thing, therefore a variety of connections is required to be able to retain custom. Finally all staff members are to act in a professional manner at all times, when dealing with consumers, if any problem occurs, management will be involved and if serious then disciplinarians and taking part in skill develop programs. Customers focus as a basic principle at the heat of and underlying TQM is among the most generally accepted precepts in the work of all quality management (Soltani et al, 2004). 9.0 Financial Sources Within the finance sector there are several ways to be able to set up a business and to gain capital, which can result in long term and short term funding. This involves the following: capital and venture capital; profit retention; borrowing; leasing, hiring and factoring; government assistance; overdraft; and trade credit (Needham and Dransfield, 1992) There are a variety of ways to gain capital; most organisations will use banks where you can gain up to 60% per cent of value and investment plans, depending on how much money and profit available, this is depending on evidence given of the business plan, and proven it is worth investing (Owen, 2009) For the business there will be four types of financial sources to be used, this will be investment from investors, borrowing from the bank, these are going to be long term financing for the business. The short term financing will be a private equity loan, which will be paid back within the first year and also a business overdraft, which is for emergency use only. From appendix 9 of the balance sheets, the profit made will be divided into four sectors this will be reinvestment back into the business itself, separate loan account so the borrowed money gets paid back, payments to investors and finally Inland Revenue corporation tax. This way the business is able to run smoothly and efficiently and have also analysed the finance from 100% full down to 25% per cent full. For buying the hotel itself excluding refurbishment estimation of about  £2.5M  £3M with design and size of the hotel as this is on a basis of the Royal hotel and Walton Park hotel. If looking at buying the Royal Hotel or Walton park hotel then you will be looking at about  £2.5M  £3M without anything done to it, this is an estimation with the current economic climate (Owen,2009) Bibliography Connexions (2009) Job descriptions and salarie. [online] Available from: URL:http://www.connexions-direct.com [accessed 01.05.209]. Datamonitor. (2007) Hotels and motels in the United Kingdom. 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Appendices Amount of visitors staying in different types of accommodation within the U.K. Trends purpose of visit and length of stay Questionnaire Questionnaire results Interview questions Full analysis of interview SWOT and PEST Analysis Management and staffing structure Finances and forecasting Appendix 1 % of Nights Spent by Visitors from all countries by Type of Accommodation, 2007 (Visitbritian, 2009) Appendix 2 Purpose of visit (Visit Britain, 2009) Length of stay (Visit Britain, 2009) Harlington Hotels Appendix 3 Questionnaire for development plans of a new hotel in Weston-super-mare Harlington HotelsThe information about to be given is confidential and will remain anonymous; the questionnaire is designed to help research into a hotel business and to find out about consumer needs and wants to help it become a more realistic approach within customer satisfaction. Male female (please tick the appropriate answer) How old are you? (please tick the appropriate answer) 18 25 26 30 31 40 41 50 51 + What is your occupation? (If unemployed please go to question 4) Please state: If student and employed please state.. How often do you go to W-S-M? (please tick the appropriate answer) Every day Twice a week Once a month Once a year If other please state: How do you get to W-S-M? (please tick the appropriate answer) By car By bus By train By airline via other transport If other please state: . Thank you for your time What sources do you use when looking for a hotel? (please tick the appropriate answer) The internet Media Guide books National/international travel agents Go by word of mouth If other please state: .. (Please tick the appropriate answer) How long do you normally stay at a hotel within the UK for? One night Weekend Fri Sun or Sat Sun (please circle ) 5 10 days 11 15 days One month If longer please state: .. What would your main reason be for visiting? (Please tick the appropriate answers) Rest and relaxation VFR (friends and relatives) Business Education (conference, congress, seminar, study, other) Culture Fun Health Religious reasons If other please state: Thank you for your time Below is listed some elements which may be considered when choosing a hotel. Please indicate the IMPORTANCE of each element it is to you when choosing a hotel. Please rate them on a scale 1 being unimportant and 5 being very important. ELEMENTS WHEN CHOOSING A HOTEL How Important is This Element Unimportant very Important I Dont Know Clean and tidy hotel (reception, restaurant etc.) 1 2 3 4 5 Clean and tidy rooms 1 2 3 4 5 Information accessibility 1 2 3 4 5 Information clear and concise 1 2 3 4 5 Catering facilities offered 1 2 3 4 5 Knowledge from staff 1 2 3 4 5 The willingness of staff to help 1 2 3 4 5 Trusted staff 1 2 3 4 5 Friendliness of staff 1 2 3 4 5 The understanding of guests needs 1 2 3 4 5 Additional activities offered by the hotel (sports facilities, entertainment etc.) 1 2 3 4 5 Activities offered within the local area i.e. excursions, trips, theatre shows etc. 1 2 3 4 5 Please rate the general quality when choosing a hotel 1 being low quality and 5 being high quality? Low quality High quality I Dont Know General quality of the hotel and service provided 1 2 3 4 5 Thank you for your time (Please tick the appropriate answer)What services/ facilities would you want/ require from a hotel? Staff who can help and sit down with you if any problems or queries Knowledge of area / other areas Activities to do outside the complex Activities sports, walks, excursions etc Variety of restaurants with different foods Links with local transport operations Pool Gym Variety of evening activities If other please state: . What type of room would you prefer standard or luxury? Please state: What facilities would you expect to have in the room? (Please tick the appropriate answers) En-suite Kitchen Lounge Balcony / terrace If other please state: . How much would you spend per night at a hotel? (Please tick the appropriate answer)  £20  £21  £40  £41 - £ 60  £61-  £80  £80 + Would you stay at a hotel which offered half price theatre tickets? Yes Thank you for your time No Maybe Appendix 4 Questionnaire results Appendix 5 Interview questions What form of custom do you receive? What is the main strategy used for this business i.e. focus, cost leadership, or differentiation? For the hotel industry and for your business do you think loyalty has decreased or increased? What benefits do your loyal consumers receive if any? Has the hotel market changed in recent years? Why? What do you think consumers look for when booking a hotel? The consumers you receive are majority of them returning consumers or different all the time? How important is your target market to the business? W

Burton Snowboards Business Analysis Essay -- Business Marketing Analyz

Burton Snowboards Business Analysis Burton Snowboards takes surfing to the mountains, with premium snowboards and equipment. Jake Burton, the world’s first snowboard maker, founded the company in 1977 in Londonberry, Vermont. Despite it being small and privately owned, Burton is the industry leader in snowboards and equipment controlling 40% total market share in the winter sports industry. Burton is a global business with its main headquarters in Vermont, Japan and Austria and worldwide distribution capabilities in over 35 countries. Burton Snowboards operates three factory outlet stores in Vermont, Massachusetts, and Austria. To create buzz marketing, Burton encourages newbie’s to experience the slopes with its Learn To Ride (LTR) line of equipment and programs at ski resorts nationally. In the past few years, Burton has started independent companies, which have their own individual identities and products. Burton has also created one of the most extensive online shopping experiences for its clientele. (www.burton.com) Strengths   Ã‚  Ã‚  Ã‚  Ã‚  Burton attributed to the development of the sport of snowboarding, as it was the first and oldest manufacturer. The company has a loyal customer base and an established retail distribution channel. Burton provides customers with an interactive online website. In order to provide help to mountain resorts to attract and retain snowboarders, Burton’s primary customer base, they have created integral relationships with resorts by providin...

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J.C. Penney: Creating America’s Favorite Store Essay

INTRODUCTION: In 2013, this department store has been celebrating being in business for 110 years. It also once lured its customers in with its famous discount pricing strategy and coupons. The retailer is J.C. Penney, a fixture at shopping malls across the country. In 2012, J.C. Penney rebranded itself by making the announcement that it wanted to become America’s favorite store by creating a specialty department store experience (JCP, 2013). Founder James Cash Penney began the company with a Golden Rule: treat others the way you want to be treated Fair and Square (JCP, n.d.). The well-known retailer has grown to nearly 1,100 stores and boasts a workforce of more than 116,000 full and part-time employees (Strand, 1998). JCP operates in the continental United States, Alaska, and Puerto Rico. Loyal consumers flocked to the giant big box store where it sold women, men, and children’s clothing along with jewelry and household items such as appliances and home furniture. Over the years, the giant retailer has polished its marketing finesse. JCP’s current catchy advertising line: â€Å"Creating America’s Favorite Store† (JCP, n.d.). In corporate America, there are four different market structures: pure competition, pure monopolistic, l responsibility, Decision making, oligopoly, and monopoly. J.C. Penney falls under the pure competition market structure which is defined as many sellers supplying identical products (Douglas, 2012, Ch. 7). J.C. Penney humble beginnings started as a dry foods store and branched out over the years as a successful chain department store competing against other stores such as Sears, Macy’s, and Dillard. J.C. Penney’s corporate culture includes social responsibility to its consumers, its employees, its suppliers, and to the environment. However, over the two several years, J.C. Penney has endured an economic downturn which began after the hiring of former Apple executive Ron Johnson in late 2011 and his subsequence firing in early 2013 (â€Å"J.C. Penney’s Chief Executive Ron Johnson Ousted,† 2013). Executives, such as Johnson, have the power to influence the purchasing power of consumers through several different variables such as product pricing, product design and packaging, product availability, and product promotion (Douglas, 2012, Ch. 3). This paper shall explore the company’s managerial economics decision which includes taking a look at its corporate social responsibility, consumer demand, the change in its pricing strategy over the past two years, attitudes toward risk, and the price elasticity of demand. SOCIAL RESPONSIBILITY COMPANY: J.C. Penney sets high corporate social responsibility for itself. On the company’s official website, it lists the company’s social responsibility which includes establishing strong environmental responsibility. Under the company’s corporate governance, JCP touts itself as a stewardship to the environment and approved its core principles in 1991( JCP, 2013). Among some of JCP’s core principles include: continuing to review its operations practice in assessing its potential impact on the environment or related human health or safety issues; working with suppliers and merchandisers to develop packages and products that are environmental responsible and safe; and taking steps to reduce the use of non-renewable energy. Among some of the company’s recent progress include: making a conscious effort to reduce packaging and paper usage, setting up an elaborate waste management recycling program, and promoting energy conservation (JCP, 2013). JCP’s corporate social responsibility shows that the company follows the Triple Bottom Line concept shortened to TBL. This concept follows the three pillars: people, profit, and planet (Faragher, 2008). Author Jo Faragher (2008) explained in her article â€Å"Sustain To Gain†, that the triple bottom line means a â€Å"business is run not just on economic performance, but also on how it affects the community and the environment† (p. 20-22). Companies such as JCP find that they cannot operate while ignoring its responsibility to the environment. By being environmentally responsible, JCP’s actions may entice certain consumers who may only spend their money on companies that care about their community and the environment. Despite a long-standing and strong corporate governance, JCP profits spiraled in 2012 following a series of poor economic managerial decisions. 2012 SEC ANNUAL REPORT: The latest figures for J.C. Penney’s sales and profits are from 2008 to 2012. According to the company’s latest United States Securities and Exchange Commission filings for 2012, the report states that the company’s market price common stock has fluctuated substantially and may continue to fluctuate significantly (JCP, 2013). Below is a graph with values indicating the company’s struggle for profits in 2012 following the hiring of Ron Johnson. The former Apple executive launched a new pricing strategy following his appointment as CEO of J.C. Penney in late 2011. In its first quarter in 2012, the company’s profits lost $163 million dollars, sales skidded to 20%, and traffic to its stores decreased by 10% (Zmuda, 2012). By the end of 2012, the company net sales decreased by more than five million dollars compared to 2011 prior to Johnson’s appointment. Unfortunately for Johnson, his confusing pricing strategy did not catch on with loyal JCP shoppers. In addition, Johnson was stubborn and did not believe in conducting research with his new marketing strategy at a few select stores before he rolled it out to all the stores (Kumar, 2013). Johnson’s biggest cheerleader at the time of his appointment was William Ackman, Founder and CEO of Pershing Square Capital Management, LP. Ackman serves on the Board of Directors of JCP and owns 18% of the company as well as other derivatives that further would boost his exposure (Glazer, Lublin, & Mattioli, 2013). Below is a graph with figures showing JCP’s total net sales in 2012 which decreased by more than five million dollars versus in 2011 (JCP 2012 SEC, 2013). In this case, poor management decisions impacted the company’s profits. | | |2012 |2011 |2010 |2009 |2008 | |Total Net Sales: | |$12,985 |$17,260 |$17,759 |$17,556 |$18,486 | |Sales Percentage: | |-24.80% |-3% |1.20% |-5.00% |-6.90% | |Operating Income: | |-1,310 |-2 |832 |663 |1,135 | |Income loss | | | | | | | |Continuing operations | |-985 |-152 |378 |249 |567 | | | | | | | | | |($ in millions) | | | | | | | CONSUMER DEMAND AND PRICING STRATEGY: Former Apple executive Ron Johnson took the helm at J.C. Penney in late 2011. At the time, Johnson’s predecessor was Mike Ullman whom was fired after more than seven years at the top strategist for JCP (â€Å"J.C. Penney’s Chief Ron Johnson Ousted,† 2013). Johnson’s experience on paper looked great. He worked for Apple and Target and his appointment was considered a coup for JCP (Kumar, 2013). Ackman touted him as the man who would turn J.C. Penney’s stores into sellers of name-brand clothes with few discounts (Glazer, Lublin, & Mattioli, 2013). In the article â€Å"The Man Who Went Too Far At J.C. Penney†, author Nikhil Kumar (2013) stated that â€Å"for decades it has served the great American middle class, luring them in with discounts and coupons† (p. n/a). Johnson’s first action in changing JCP included eliminating the company’s old pricing strategy which he considered as fake prices because the company was constantly marking down prices (Kumar, 2013). Johnson eliminated the fake prices and called his new pricing strategy as fair and square. Here is an example of Johnson’s new pricing strategy. Instead of marking up a t-shirt at the price of $14 dollars and then slashing the price to $6 dollars with its markdowns and coupons, Johnson suggested to just marked the t-shirt at $7. Johnson explained that his new pricing policy not only simple, but fair and square (Kumar, 2013). Unfortunately, the new strategy did not meet with enthusiasm from loyal consumers. In managerial economics, the pricing strategy is important for consumers especially for loyal shoppers. A change in pricing also means a movement in the consumer demand curve (Douglas, 2012, Ch. 4.1). Pricing is considered a decision variable and plays a part in consumer demand (Douglas, 2012, Ch. 3). In managerial economics, decisions makers can follow a model called the utility-maximizing model of consumer demand. In the textbook â€Å"Managerial Economics†, author Evan J. Douglas (2012) explained this model as a way â€Å"individual consumers make decisions to buy products based on the expectation that the purchase will allow them to gain the most psychic satisfaction, or utility, from their limited incomes† (Ch. 3.1). Limited income is also another way of describing discretionary income, money that is available to consumers after paying the necessary expenditures such as mortgage, utility, and other bills. In the case of JCP, the company experienced a diminishing marginal utility. The marginal utility of a product means that as one product goes up, another product that is a substitute goes down (Douglas, 2012, Ch. 3.1). With the confusing pricing strategy, loyal shoppers and prospective shoppers turned elsewhere to shop such as Sears, Target, and Macy’s to achieve their satisfaction in spending their money. In managerial economics, consumer’s satisfaction is explained as the total utility. In describing this relationship between Product A which is JCP versus Product B, Sears, the graph will show the indifference curves to be convex which means as Product A goes down while Product B go up (Douglas, 2012, Ch. 3.1). Thus, the consumers’ total utility continued to achieve while JCP’s marginal utility diminished. Perhaps another mishaps of Johnson’s new pricing policy included using the concept of penetration pricing which is the practice of setting relatively low price to achieve more consumers’ sales, therefore in return, the end result is gaining more market shares (Douglas, 2012, Ch. 9.1). Before Johnson came on board, he believed that JCP’s old pricing policy devalued the company’s brand, but it also caused confusion because the company was constantly sending out flyers and coupons that added little to the shoppers’ experience (Kumar, 2013). In the end, Johnson’s risky move did not pay off and the company saw a decline in profits in 2012. ATTITUDES TOWARD RISK: Johnson’s mistake was not road-testing his pricing ideas plan before implementing it. Risk analysis is part of managerial economics. Johnson did not take into account adjusting for risk using the certainty equivalent factor looking at the decision and the amount of money that a decision-maker feels is equivalent to the expected value of a decision (Douglas, 2012, Ch. 2.1). There are several different attitudes toward risk running from the gamut of being risk neutral to an individual who is a risk seeker. Johnson’s attitude toward risk appeared to be more of a risk seeker defined as an individual who seeks a risky action because in return that risky action means a high rate of return (Douglas, 2012, Ch. 2). Another more transparent decision rule that should have been followed for Johnson was using the Maximin Decision Rule (MDR) which is the practice of choosing choose the alternative that has the highest maximum value and the lowest minimum outcome (Douglas, 2012, Ch. 2.2). Although it appeared that Johnson did not seek out an alternative to his plan, perhaps, his best practice should have involved following the MDR concept. PRICE ELASTICITY OF DEMAND: Along with the decision variables of product, pricing, placement, and promotion, in managerial economics, decision makers also need to consider the price elasticity of demand or PED. The sensitivity of quantity demand is known as the elasticity of demand. The price elasticity of demand is affected by prices where high prices suggest consumers would buy less of the product and lower prices mean consumers would buy more of the product (Douglas, 2012, Ch. 4). PED is influenced by a multitude of factors such as availability of substitutes, household income, consumer preferences, expected duration of price change, and the product’s share of a household’s income (Andreyeva, Long, & Brownell, 2010). According to the website www.About.com Economics: The higher the price elasticity, the more sensitive consumers are to price changes. A very high price elasticity suggests that when the price of a good goes up, consumers will buy a great deal less of it and when the price of that good goes down, consumers will buy a great deal more. A very low price elasticity implies just the opposite, that changes in price have little influence on demand (About.com Economics, 2013). In the case of JCP, the company witnessed the opposite with the price elasticity of demand. Even though Johnson’s new pricing ideas were meant to streamline the shopping experience for the consumers, the end result did not take place. Consumers did not understand nor did they liked the ideas. In the end, the faithful consumers abandoned the company and looked elsewhere to spend their money. Shoppers felt the new pricing ideas were confusing adn did not feel that they adhere to JCP’s The end result: profits suffered in 2012 with a 25% sales slumped compared to 2008 when the company brought in nearly $19 million dollars in total net sales (JCP, 2013). RECOMMENDATIONS: Steps have been taken to rectify the managerial decision makings that took place in late 2011. In less than two years, Johnson is out, along with his team of executives. The Board of Directors for JCP replaced Johnson earlier this year with his predecessor Mike Ulman (Kumar, 2013). Although Ulman received criticisms under his leadership, JCP and the Board of Directors returned to the old strategy In addition, the company returned to its popular pricing strategy that it abandoned in 2011 following the appointment of Johnson. That pricing strategy involved increasing prices of private label lines followed by slashing prices as a means of bringing up sales and margins (â€Å"Department Store JCPenney Revives Abandoned Pricing Strategy†, 2013). Companies tend to go back to the same marketing strategies that worked in the past. Prior to Johnson’s departure, he admitted that his bold, but risky pricing ideas were a mistake and acknowledged that ending the retailer’s markdown and couponing were a mistake that cost him company’s profits and his job. Before JCP commit to changing its marketing strategy, it needs to consider and perhaps ask consumers what they want. At times, decision makers forget to consider and ask consumers what they want versus just believing or thinking consumers want change. Johnson’s rejected retail industry procedures which included testing changes in limited stores before rolling them out to all the stores (Glazer, Lublin, & Mattioli, 2013). This was not the case for loyal shoppers. They wanted to feel that they were getting a bargain versus just paying for one simple price. These are necessary changes the company has implemented following the firing of Johnson in early 2013. JCP is now looking to regain its standing in the department stores war. At the helm is Ulman who lead the company for the past seven years prior to being replaced two years ago. During his time as CEO, JCP saw profits gain (JCP 2012 SEC, 2013). CONCLUSION: J.C. Penney is reinventing itself and wants consumers to remember that it is â€Å"Creating America’s Favorite Store†. It has a new CEO who was reinstated and returned to its old pricing plan. It is a company that has a strong corporate governance, but due to poor managerial economic decisions, J.C. Penney went through a spiral for nearly 18 months before the bleeding stop. The poor economic decisions led to profits loss along with low morale within the company (Kumar, 2013). In managerial economics, decisions such as pricing, product, placement, and promotion affect the consumers demand curve. JCP experienced it firsthand. References About.com Economics (2013). Price elasticity of demand. Retrieved on June 2, 2013 from http://economics.about.com/cs/micfrohelp/a/priceelasticity.htm Andreyeva, T., Long, M. W., M.P.H., & Brownell, K. D., PhD. (2010). The impact of food prices on consumption: A systematic review of research on the price elasticity of demand for food. American Journal of Public Health, 100(2), 216-22. Retrieved from ProQuest Central. doi: 903343408. Department store JC penney revives abandoned pricing strategy. (2013). Retail Week, Retrieved ProQuest Central. doi: 1324133045. Douglas, E. (2012). Managerial Economics (1st ed.). San Diego, CA: Bridgepoint Education. Faragher, J. (2008). Sustain to gain. Personnel Today, pp.20-22. Retrieved from ProQuest Central. doi: 229932707. Glazer, E., Lublin, J.S., & Mattioli, D. (2013, April 9). Penney backfires on ackman. Retrieved on June 2, 2013 from http://online.wsj.com/article/SB10001424127887324504704578412440293890624.ht