Wednesday, July 31, 2019

Micro and macro market enviroment Essay

In order to correctly identify opportunities and monitor threats, the company must begin with athorough understanding of the marketing environment in which the firm operates. The marketingenvironment consists of all the actors and forces outside marketing that affect the marketingmanagement’s ability to develop and maintain successful relationships with its target customers.Though these factors and forces may vary depending on the specific company and industrialgroup, they can generally be divided into broad micro environmental and macro environmentalcomponents. For most companies, the micro environmental components are: the company,suppliers, marketing channel firms (intermediaries), customer markets, competitors, and publicswhich combine to make up the company’s value delivery system. The macro environmentalcomponents are thought to be: demographic, economic, natural, technological, political, andcultural forces. The wise marketing manager knows that he or she cannot always affectenvironmental forces. However, smart managers can take a proactive, rather than reactive,approach to the marketing environment. As marketing management collects and processes data on these environments, they must be ever vigilant in their efforts to apply what they learn to developing opportunities and dealing withthreats. Studies have shown that excellent companies not only have a keen sense of customer butan appreciation of the environmental forces swirling around them. By constantly looking at thedynamic changes that are occurring in the aforementioned environments, companies are better prepared to adapt to change, prepare long-range strategy, meet the needs of today’s andtomorrow’s customers, and compete with the intense competition present in the globalmarketplace. All firms are encouraged to adopt an environmental management perspective in thenew millennium.A company’s marketing environment consists of the actors and forces outside marketing thataffect marketing management’s ability to develop and maintain successful relationships with itstarget customers.1). Being successful means being able to adapt the marketing mix to trends and changes thisenvironment.2). Changes in the  marketing environment are often quick and unpredictable.3). The marketing environment offers both opportunities and threats.4). The company must use its marketing research and marketing intelligence systems to monitor the changing environment.5). Systematic environmental scanning helps marketers to revise and adapt marketing strategiesto meet new challenges and opportunities in the marketplace. The marketing environment ismade up of a: 1. Micro environmental2. Macro-environment 1. Micro Environmental The microenvironment consists of five components. The first is the organization’s internalenvironment—its several departments and management levels—as it affects marketingmanagement’s decision making. The second component includes the marketing channel firmsthat cooperate to create value: the suppliers and marketing intermediaries (middlemen, physicaldistribution firms, marketing-service agencies, financial intermediaries). The third componentconsists of the five types of markets in which the organization can sell: the consumer, producer,reseller, government, and international markets. The fourth component consists of thecompetitors facing the organization. The fifth component consists of all the publics that have anactual or potential interest in or impact on the organization’s ability to achieve its objectives:financial, media, government, citizen action, and local, general, and internal publics. So themicroenvironment consists of six forces close to the company that affect its ability to serve itscustomers:a. The company itself (including departments). b. Suppliers.c. Marketing channel firms (intermediaries).d. Customer markets.e. Competitors.f. Publics. 1. The Company’s Microenvironment As discussed earlier the company’s microenvironment consists of six forces that affect its abilityto serve its customers. Lets discuss these forces in detail: a. The Company  The first force is the company itself and the role it plays in the microenvironment. This could bedeemed the internal environment.1). Top management is responsible for setting the company’s mission, objectives, broadstrategies, and policies.2). Marketing managers must make decisions  within the parameters established by topmanagement.3). Marketing managers must also work closely with other company departments. Areas such asfinance, R & D, purchasing, manufacturing, and accounting all produce better results whenaligned by common objectives and goals.4). All departments must â€Å"think consumer† if the firm is to be successful. The goal is to providesuperior customer value and satisfaction. b. Suppliers Suppliers are firms and individuals that provide the resources needed by the company and itscompetitors to produce goods and services. They are an important link in the company’s overallcustomer â€Å"value delivery system.†1). One consideration is to watch supply availability (such as supply shortages).2). Another point of concern is the monitoring of price trends of key inputs. Rising supply costsmust be carefully monitored. c. Marketing Intermediaries Marketing intermediaries are firms that help the company to promote, sell, and distribute itsgoods to final buyers.1). Resellers  are distribution channel firms that help the company find customers or make salesto them.2). These include wholesalers and retailers who buy and resell merchandise.3). Resellers often perform important functions more cheaply than the company can performitself. However, seeking and working with resellers is not easy because of the power that somedemand and use. Physical distribution firms help the company to stock and move goods from their points of origin to their destinations. Examples would be warehouses (that store and protect goods beforethey move to the next destination). Marketing service agencies (such as marketing research firms, advertising agencies, mediafirms, etc.) help the company target and promote its products. Financial intermediaries  (such as banks, credit companies, insurance companies, etc.) helpfinance transactions and insure against risks. d. Customers  The company must study its customer markets closely since each market has its own specialcharacteristics. These markets normally include:1). Consumer markets  (individuals and households that buy goods and services for personalconsumption).2). Business markets  (buy goods and services for further processing or for use in their production process).3). Reseller markets  (buy goods and services in order to resell them at a profit).4). Government markets  (agencies that buy goods and services in order to produce publicservices or transfer them to those that need them).5). International markets  (buyers of all types in foreign countries) e. Competitors Every company faces a wide range of competitors. A company must secure a strategic advantageover competitors by positioning their offerings to be successful in the marketplace. No singlecompetitive strategy is best for all companies. f. Publics A public is any group that has an actual or potential interest in or impact on an organization’sability to achieve its objectives. A company should prepare a marketing plan for all of their major publics as well as their customer markets. Generally, publics can be identified as being:1). Financial publics–influence the company’s ability to obtain funds.2). Media publics–carry news, features, and editorial opinion.3). Government publics–take developments into account.4). Citizen-action publics–a company’s decisions are often questioned by consumer organizations.5). Local publics–includes neighborhood residents and community organizations.6). General publics–a company must be concerned about the general public’s attitude toward its products and services.7). Internal publics–workers, managers, volunteers, and the board of directors. 2.MACRO ENVIRONMENT The Company’s Macro environment The company and all of the other actors operate in a larger macro environment of forces thatshape opportunities and pose threats to the company. There are six major forces (outlined below)in the company’s macro environment. There are six major forces (outlined below) in thecompany’s macro environment.a. Demographic. b. Economic.c. Natural.d. Technological.e. Political.f. Cultural. a. Demographic Environment Demography is the study of human populations in terms of size, density, location, age, sex, race,occupation, and other statistics. It is of major interest to marketers because it involves people and people make up markets. Demographic trends are constantly changing. Some more interestingones are.1). The world’s population (though not all countries) rate is growing at an explosive rate that willsoon exceed food supply and ability to adequately service the population. The greatest danger isin the poorest countries where poverty contributes to the difficulties. Emerging markets such asChina are receiving increased attention from global marketers.2). The most important trend is the changing age structure of the population. The population isaging because of a slowdown in the birth rate (in this country) and life expectancy is increasing.The baby boomers following World War II have produced a huge â€Å"bulge† in our population’sage distribution. The new prime market is the middle age group (in the future it will be the senior citizen group). There are many subdivisions of this group.a). Generation X–this group lies in the shadow of the boomers and lack obvious distinguishingcharacteristics. They are a very cynical group because of all the difficulties that have surroundedand impacted their group. b). Echo boomers (baby boomlets) are the large growing kid and teen market. This group is usedto affluence on the part of their parents (as different from the Gen Xers). One distinguishingcharacteristic is their utter fluency and comfort with computer, digital, and Internet technology(sometimes called Net-Gens).c). Generational marketing is possible, however, caution must be used to avoid generationalalienation. Many in the modern family now â€Å"telecommute†Ã¢â‚¬â€œwork at home or in a remote officeand conduct their business using fax, cell phones, modem, or the Internet In general, the population is becoming better educated. The work force is be-coming more white-collar.Products such as books and education services appeal to groups following this trend. Technicalskills (such as in computers) will be a must in the future. The final demographic trend is theincreasing ethnic and racial diversity of the population. Diversity is a force that must berecognized in the next decade. However, companies must recognize that diversity goes beyond ethnic heritage. One the important markets of the future are that disabled people (a market larger any of our ethnic minority groups). b. Economic Environment The economic environment includes those factors that affect consumer purchasing power andspending patterns. Major economic trends in the United States include:1). Personal consumption (along with personal debt) has gone up (1980s) and the early 1990s brought recession that has caused adjustments both personally and corporately in this country.Today, consumers are more careful shoppers. 2).Value marketing (trying to offer the consumer greater value for their dollar) is a very seriousstrategy in the 1990s. Real income is on the rise again but is being carefully guarded by a value-conscious consumer. 3).Income distribution is still very skewed in the U. S. and all classes have not shared in prosperity. In addition, spending patterns show that food, housing, and transportation stillaccount for the majority of consumer dollars. It is also of note that distribution of income hascreated a â€Å"two-tiered market† where there are those that are affluent and less affluent. Marketersmust carefully monitor economic changes so they will be able to prosper with the trend, notsuffer from it . c. Natural Environment The natural environment involves natural resources that are needed as inputs by marketers or that are affected by marketing activities. During the past two decades environmental concernshave steadily grown. Some trend analysts labeled the specific areas of concern were: 1).Shortages of raw materials. Staples such as air, water, and wood products have been seriously damaged and non-renewablesuch as oil, coal, and various minerals have been seriously depleted during industrial expansion. 2).Increased pollution is a worldwide problem. Industrial damage to the environment is very serious. Far-sightedcompanies are becoming â€Å"environmentally friendly† and are producing environmentally safe andrecyclable or biodegradable goods. The public response to these companies is encouraging.However, lack of adequate funding, especially in third world countries, is a major barrier. 3).Government intervention in natural resource management has caused environmental concerns to be more practical andnecessary in business and industry. Leadership, not punishment, seems to be the best policy for long-term results. Instead of opposing regulation, marketers should help develop solutions to thematerial and energy problems facing the world. 4).Environmentally sustainable strategies. The so-called green movement has encouraged or even demanded that firms produce strategiesthat are not only environmentally friendly but are also environmentally proactive. Firms are beginning to recognize the link between a healthy economy and a healthy environment. d. Technological Environment The technological environment includes forces that create new technologies, creating new product and market opportunities. 1). Technology is perhaps the most dramatic force shaping our destiny 2). New technologies create new markets and opportunities. 3). The following trends are worth watching: a). Faster pace of technological change. Products are being technologically outdated at a rapid pace. b). There seems to be almost unlimited opportunities being developed daily. Consider theexpanding . fields of health care, the space shuttle, robotics, and biogenetic industries. c). The challenge is not only technical but also commercial–to make practical, affordableversions of . . products. d). Increased regulation. Marketers should be aware of the regulations concerning product safety,individual privacy, and other areas that affect technological changes. They must also be alert to . any.possible negative aspects of an innovation that might harm users or arouse opposition. e. Political Environment The political environment includes laws, government agencies, and pressure groups thatinfluence and . limit various organizations and individuals in a given society. Various forms of legislation regulate business. 1). Governments develop public policy to guide commerce–sets of laws and regulations limiting business for the good of society as a whole. 2). Almost every marketing activity is subject to a wide range of laws and regulations. Sometrends in the political environment include: 1). Increasing legislation to: a).Protect companies from each other. b).Protecting consumersfrom unfair business practices. c).Protecting interests of society against unrestrained business behavior. 2). Changing government agency enforcement. New laws and their enforcement will continue or increase. 3). Increased emphasis on ethics and socially responsible actions. Socially responsible firmsactively seek out ways to protect the long-run interests of their consumers and the environment. a). Enlightened companies encourage their managers to look beyond regulation and â€Å"do the rightthing.† b). Recent scandals have increased concern about ethics and social responsibility. c). The boom in e-commerce and Internet marketing has created a new set of social and ethicalissues. Concerns are Privacy, Security, Access by vulnerable or unauthorized groups. f. Cultural Environment The cultural environment is made up of institutions and other forces that affect society’s basicvalues, perceptions, preferences, and behaviors. Certain cultural characteristics can affectmarketing decision-making. Among the most dynamic cultural characteristics are: 1). Persistence of cultural values. People’s core beliefs and values have a high degree of persistence. Core beliefs and values are passed on from parents to children and are reinforced byschools, churches, business, and government. Secondary beliefs and values are more open tochange. 2). Shifts in secondary cultural values. Since secondary cultural values and beliefs are open tochange, marketers want to spot them and be able to capitalize on the change potential. Society’smajor cultural views are expressed in a).People’s views of themselves. People vary in their emphasis on serving themselves versusserving others. In the 1980s, personal ambition and materialism increased dramatically, withsignificant implications for marketing. The leisure industry was a chief beneficiary. b).People’s views of others. Observers have noted a shift from a â€Å"me-society† to a â€Å"we-society.† Consumers are spending more on products and services that will improve their livesrather than their image. c). People’s views of organizations. People are willing to work for large organizations butexpect them to become increasingly socially responsible. Many companies are linkingthemselves to worthwhile causes. Honesty in appeals is a must. d).People’s views of society. This orientation influences consumption patterns. â€Å"Buy American†versus buying abroad is an issue that will continue into the next decade. e).People’s view of nature. There is a growing trend toward people’s feeling of mastery over nature through technology and the belief that nature is bountiful. However, nature is finite. Loveof nature and sports associated with nature are expected to be significant trends in the nextseveral years. f).People’s views of the universe. Studies of the origin of man, religion, and thought-provokingad campaigns are on the rise. Currently, Americans are on a spiritual journey. This will probablytake the form of â€Å"spiritual individualism.

Tuesday, July 30, 2019

Human Embryonic Stem Cell Research Essay

Scientific research has come a long way since the first use of human embryos to treat and prevent diseases. The polio vaccine was invented in the 1950’s from the use of human fetal kidney cells, fetuses in uteri were used to develop techniques like amniocenteses and improving knowledge about congenital heart disease in the 1970’s, and in the 1980’s the transplantation of fetal tissue into adults to help with serious conditions like, diabetes or Parkinson’s (Gold, 2004). While there has always been concern and controversy over the use of human embryonic cells, today the debate is ethical. This ethical debate lies within the destruction of human embryos in order to use them for medical research. This paper will talk about how two different theories; utilitarianism and relativism view this ethical issue and the problem it presents, as well as my personal views on use of embryonic stem cell research. The theory of utilitarianism determines what is best by looking at the results of an act. According to Mosser (2010, section 1. 7), â€Å"utilitarianism argues that, given a set of choices, the act we should choose is that which produces the best results for the greatest number affected by that choice. When looking at the use of embryonic stem cells for research, utilitarianism looks at the end result. Embryonic stem cells have the potential to save lives by curing diseases and through the use of transplantation. While some utilitarianism’s may still view the destruction of these cells as the destruction of human life they recognize that their potential is a far better choice, being that this research can potentially help save many lives. The opposition to embryonic stem cell research may have a relativists view. Although one person may see embryonic stem cell research as right, another may see it as wrong based on their own ethical standards that have been provided by their culture or background (Mosser, 2010). The opposition of embryonic stem cell research view the embryo as a person from the day it is conceived, although it does not have any characteristics of a person, it will one day become a person. The thought of destroying human life has raised many important questions that cannot be answered by science. When does life begin? Is a human embryo equivalent to a human child? Does a human embryo have any rights? Might the destruction of a single embryo be justified if it provides a cure for countless number of patients? Since ES cells can grow indefinitely in a dish can, in theory, still grow into a human being, is the embryo really destroyed. (The University of Utah, 2012, para. 5) So what moral status does the human embryo have? To the relativist opposition, the question can only be answered by their personal moral views. To better understand the debate about embryonic stem cell research one must first understand the importance of embryonic stem cell research. Embryonic stem cells are pluripotent cells that are derived from the inner cell mass of the human blastocyst (early embryo) (Hynes, 2008). Many wonder why the use of these cells is so important in scientific breakthroughs. Embryonic stem cells are capable of differentiating into all types of cells in the body. This allows researchers to use ES cells to create any type of cell needed for any patient. Many ask why the use of adult stem cells is not good enough. Adult stem cells are undifferentiated cells found within the body. These cells only have the ability to â€Å"divide or self-renew indefinitely and generate all the cell types of the organ from which they originate† (Science, 2012, para. 1). Adult stem cell research is not controversial, as it does not require the destruction of human life to acquire them. While adult stem cells have been used to successfully treat things like leukemia and related bone/blood cancers, embryonic stem cells offer a wider variety of treatment options because they have the ability to develop into more than 200 cell types in the body as long as they are specified to do so (Science, 2012). Both sides of this debate may be influenced by religion. There are some religions that regard a human embryo as having human status from the time of conception while others say that an embryo does not have full human status before 40 days (EuroStemCell, 2011). The Roman Catholic, Orthodox, and conservative Protestant Churches are against human embryonic stem cell research, where Judaism and Islam look at and emphasize the importance of the outcome that embryonic stem cell research can bring (EuroStemCell, 2011). As with any debate those who have the same theory may still believe differently based upon their culture, upbringing, and religious background. I find that one could be of a certain religion (Catholic) and still view embryonic stem cell research as a better solution than just discarding unused embryos. The Catholic utilitarian may argue that the it is better to utilize the embryonic stem cells from an infertility clinic for research to potentially save many lives than to discard the cells as if they were. On the other hand the Catholic relativist/utilitarian might argue that this goes against their religious beliefs and is not what is best for the common good. As one can see in this example a person may exercise more than one theory in their lives. One may have been raised to view embryonic stem cell research, as wrong because it destroys human life, but they may also view it is a way to help the common good. This is when these types of decisions, to be for or against something, become a personal struggle. Does one go against what they were raised and taught to believe or do they do what they think is right for the common good of society? Mosser (2010, Section 1. 7) states that, â€Å"utilitarianism gives us what seems to be a clear and fairly easy principle to apply to ethical problems and so determine the right thing to do in specific cases. † This may be the case when it comes to simple decisions that are easy to explain and justify, but when it comes to a moral decision between right and wrong utilitarianism can merely guide us and help clarify these ethical problems (Mosser, 2010). Unfortunately this is why there is such a heated debate with embryonic stem cell research. What one sees as morally right another sees as morally wrong? The reasons may be different, but the end result may be the same. In this case one believes the act of using human embryos for research will help the common good where the other side believes not using human embryos for research will help the common good in value of morals and what status they view the human embryo. Relativism allows one the opportunity to go along with what their culture believes is right or wrong. It keeps one safe, as many people are afraid to express their own opinions and views against anothers views (Mosser, 2010). As with any ethical issue, this theory allows those who do not know enough about it to stay safe and build their views and opinions based on those around them. This allows one to judge another based on a view that has been acquired by commonality rather than facts. This can go both ways with embryonic stem cell research. Although the relativist view can be regarded as the â€Å"popular† view it can be very powerful if one bases their view on facts and knowledge and not just the cultural view. While their will always be disagreements about the use of embryonic stem cell research I find that their use if more beneficial than it is destructive. While everyone is entitled to their own beliefs, is it selfish to oppose the use of embryonic cells, which will be discarded anyway, because it is seen as the destruction of life? I think so. If there is a way to help another in the future through the use of embryonic stem cells, why not? I find myself in agreement with the utilitarianism theory on this matter. It is important for researchers to continue their research to help the common good. The research and researchers must have limitations though.

Monday, July 29, 2019

Breach Of Patients Safety By Using Of Medical Devices Essay

Breach Of Patients Safety By Using Of Medical Devices - Essay Example The booklet â€Å"Equipped to care† provides practical information on medical devices for health professionals, who will enhance patients care† (Department of Health 2000). Demographic factors, changing illness patterns and the concept of patients as consumers of healthcare will act as a driver to the delivery of care, where sophisticated device usage will become increasingly routine (Department of Health 2002). Medical devices have moved from being tools to support clinical practice to being an integral requirement in treatment delivery (Quinn 2000). However, use of medical devices is not entirely free of risk since sometimes they malfunction, or sometimes clients may have increased suffering from their misuse.Over the past 20 years, there has been significant development around medical device safety, from MHRA and the Department of Health. However, in the later years, available studies have been limited. Research articles were published in the early stages of developme nt on the safety of use of medical devices and were reinvestigated some years later, in 2001 – 2003. For some time, there has been a shortfall of ongoing research, and tremendous advances in medical equipment at the same time, previous research were deemed unreliable. It is perceived that major devices of the earlier time are now considered as minor. The major devices being studied today would not have been foreseen in previous years. The evolving complexity of devices and the need for training have been highlighted.

Sunday, July 28, 2019

Baptism in Fifth Business Essay Example | Topics and Well Written Essays - 1000 words

Baptism in Fifth Business - Essay Example This idea did not take hold in the religions of the Graeco-Roman world, but firmly established itself in Judaism. It is from there that baptism became an important part of the Western tradition.   Ã‚  According to the Hebrew Bible a person can become 'unclean' for the purposes of performing various rituals by contact with certain substances vile in the opinion of ancient Hebrew priests, for example semen (Lev 15:13-17) or menstrual blood (Lev 15:19-30). In some way this must have begun as a practical consideration, but it soon took on a more symbolic use as the practical action became a ritual, and the logic of the ritual became more extensive. The high priest was able, through analogy, to be baptized for the entire community and wash away their sins which rendered them unclean for ritual purposes and thus unfit for worshiping Yahweh (Lev 16:24).   Although this ritual action of baptism has a metaphorical basis, it remained part of the 'nuts and bolts' of religious action. Christ ianity moved it to a different sphere. Although the program of John the Baptist is far from clear, he seems to have carried out the traditional baptism for cleaning away the sins of the nation, but believed that the nation as a whole, rather than merely the high priest, had to be baptized (Matt 3; Lk 3; Jn 1:19-36). At some point between John's baptizing and the writing of the Gospels, baptism took on a spiritual dimension so that it would not only wash away uncleanness and sin, preparing one for ritual action, but was meant to transform.

Saturday, July 27, 2019

Economics Essay Example | Topics and Well Written Essays - 1500 words - 24

Economics - Essay Example This capital expenditure takes time which cannot be completed in the short-run. Similarly, no existing firm can leave the industry in the short-run. The reason behind this is that whenever a firm sets up in any industry it has to incur some sunk costs. In lay man terms, sunk costs are actually setup costs. These costs are barriers that do not let the firms leave the industry in the short-run as no firm wants to leave the industry without minimizing or cashing in on some of their sunk costs. As we have already discussed, that no firm can be lured into or pushed-out of the industry in the short-run. The reasons that may tempt the other businesses entering into industry are off course profits, as discussed above. There are two types of profit that firm makes in the short run based on its costs and revenue. A firm may be making large profits or break-even in this time-scale. In economic terms break-even is known as normal profit because the calculation includes implicit or opportunity co sts, which are not actual cost and hence a firm which is breaking even is making a profit in accounting terms. Normal Profits are usually denoted by AR=AC. Similarly, apart from normal profit a firm might also be making a Supernormal profit denoted by a equation AR>AC. These profits positions can be shown in the following diagrams: In figure 1 we see the condition in which the firm is making a level of profit that is just enough to persuade the firms to stay in the industry in the short-run but not enough to attract new firms. In short-run when the firm is earning normal profits, the firm is just covering total costs. Since the TC (Total Cost Calculations) also includes implicit costs like opportunity cost of capital employed, return of capital in alternative uses etc. These are not actual costs and hence breaking even would mean that firm is earning profit which it could earning in alternative businesses and hence

Friday, July 26, 2019

Innovation and Managemnt of Change Essay Example | Topics and Well Written Essays - 3750 words

Innovation and Managemnt of Change - Essay Example Furthermore, structure is also a means to high-performing teams. Mindful awareness to structure and roles in teams will make the team much more successful. When it comes to leadership, structural leadership contributes a critical role in shaping organizations. It can be influential and stable, even though it is more restrained and less heroic leadership compared on other frames. Upon the entrance of Nardelli in Home Depot, there were major changes in hiring of new employees. Nardelli, wants to hire people with military background, ex militaries or even the wives of military officers (Pascual, 2001). Because for him they have a sufficient training and great leadership skills. For Nardelli, . A leader should be credible for him to lead. In addition to this characteristic, a leader should possess honesty, competence, aspiration, and a forward-looking approach. In the business point of view, good leadership proves to be quite beneficial. Good leadership aids in effectively meeting job-related demands, in creating higher-performing teams, in fostering renewed loyalty and commitment, in increasing motivational level and in reducing absenteeism and turnover of employees. Unfortunately, this so-called effective leadership is not that easy to attain; effective management is not as easy as writing down notes. Good leadership entails a lot of hard work, dedication, an d many other factors (Revelle, 2003). This is the reason why there should be proper management flow within the organization. Since an organization's culture is about how much members trust each other, about attitudes and emotions and their impact on team performance, organizations are defined best in these terms and in ideas like change, trust, cohesion, conformity and adaptability. The importance of high work life quality through good supervision, working conditions, pay and benefits as well as challenging and rewarding jobs. As such, it is apparent that the employees need to avail of the opportunities of developing their skills further and enriching their knowledge through the training programs and exercises that their company invests on (Maeir, 2003). As leaders and managers, managing the information that the company uses in its daily operations is crucial in any business organization. Information is the blood stream of every company on which every staff; employee and supervisor work on to be able to meet the demands of the clients and customers of the business. In addition, culture and environment of an organization tend to play a large role in determining structure (Scholosser, 2004). For example, more formal, bureaucratic organizations tend to have formal structures, while less formal organizations often choose flatter structures with dispersed responsibilities. Basically, social interaction is the main essence of living. People gain knowledge of themselves and those with whom they interact based on many characteristics that become salient based on their cultural framework. For example, to an American the car that one drives has symbolic significance, whereas to an Indian, schooling is an important sign of position and status. It is through various types of social interactions that all people define themselves within their social community, and this self-definition lies at the very heart of human endeavor. People struggle with a desire

Critical Review Literature Example | Topics and Well Written Essays - 2000 words

Critical - Literature review Example Thus there is no room for religion in the study and understanding of human behaviour and the natural science in today’s academic world and in particular in psychology. Nelson (2006) argues that these developments are unfortunate since, since science is not capable of explaining every human or worldly phenomenon. Science leaves a number of knowledge gaps that not only renders science as much a statement of ideas as religion does. Therefore religion has value in terms of understanding the natural world and human behaviour and thus is valuable to psychology (Nelson, 2006). Nelson’s (2006) argument that religion has value in terms of providing an understanding of the natural world and human behaviour is decidedly logical. Certainly, science is based on natural world realities, but it does not explain everything and thus leaves open the possibility of supernatural forces which can be explained by religion just as logically as any other untested or unverified scientific theor y. Summary Nelson (2006) argues that during the Middle Ages, there was an integration of science and religion in the formation of a â€Å"body of knowledge† (p. 205). ... Nelson (2006) starts out by defining integration as the combining of at least two disciplines for forming a consensus on the same issue. However, integrating religion and science has become increasingly difficult. The difficulties can be traced back to philosophical thinking prior to Socrates in which materialism influenced philosophical conceptualization of the world as a purely physical entity (Nelson, 2006). In other words, the world as a physical entity was only capable of explanation via physical evidence of facts and its nature. This is known as materialism (Nelson, 2006). The materialism approach is at odds with the naturalism approach which obviously accepts religion because naturalism holds that certain things about the world are natural facts and do not require physical proof. Naturalism also adheres to the concept that much of the world can be explained by reference to physical evidence (Nelson, 2006). It therefore follows that from the naturalist perspective, religion is relevant for explaining the supernatural while science is relevant for proven that which can be physically observed, tested and measured (Nelson, 2006). During the 1500s, Sir Francis Bacon, while supporting the value of religion, advocated for the separation of science and religion on that grounds that integration was an obstacle to learning (Nelson, 2006). By the 1800s, during the Enlightenment, positivism grew out of â€Å"anti-religious† agendas â€Å"shaped by centuries of state-church repression† and â€Å"the effects of religious wars and intolerance† (Nelson, 2006, p. 210). Science emerged as based on hard facts and physical proof of the existence of those facts. Psychologists such as Sigmund Freud were determined to establish

Thursday, July 25, 2019

Service operation management Essay Example | Topics and Well Written Essays - 2000 words

Service operation management - Essay Example r customers who prefer French cuisine where the product design and development matches seasonality of the service industry characterised by unique world class wines. Besides, the quality of service provision stems from the distinct setting and furnishing resulting in unique classical architecture (Daniel, 2015). Therefore, the restaurant’s business focus is on providing rooms for dining and the warm as well as welcoming bar lounge where guests have the opportunity to enjoy the creative cocktails, sumptuous night desserts, and a la carte dining. Moreover, the organisation’s success in meeting customer needs and providing quality services has made it earn the two-star Michelin rating. In this case, the organisation’s success is a perfect reference for evaluating how service organisations manage their service operations. Any customer who visits a restaurant expects professional high-class services especially for the highly rated organisations like the Daniels restaurant. The focus of service operations management is to ensure that customers get the value for their money (Zhang, Linderman & Schroeder, 2012). Therefore, customers believe that the high prices they pay for the restaurants must be reflected in the organisations service provision. In this regard, customers expect the organisation to be flexible in meeting their ever changing needs. In the modern business environment, the focus has shifted to quality of services where customers prefer organisations that put quality at the forefront of their operations since it is one of the expectations from the customers (Zaim, Bayyurt & Zaim, 2013). Nonetheless, the customers expect helpful and friendly service staff that can rely on for information and providing answers to some of their burning questions. The customers also expect that the organisation should respond promptly to inquiries, whether through online, by phone and in person. Most of all, customers expect a restaurant facility to maintain high level of

Wednesday, July 24, 2019

The Advantages of Modern Technology in Buildings Safety Essay

The Advantages of Modern Technology in Buildings Safety - Essay Example This discussion aims to uncover various advantages that technology has brought in regard to safety of buildings. Thesis Statement: The three major advantages of embracing technology in buildings are: reduction and minimization of pollution within the building expand security system and enhance communication. The three mentioned advantages will be discussed in details so as to divulge and reveal what role exactly technology plays in protecting lives of people and reducing risks of harm and danger. Overtime, Civil engineers have worked so hard to make sure the new wave of technology is incorporated into and embraced by the building industries so as to improve the security conditions of those buildings. Most buildings that host factories indulged in manufacturing products usually pose a lot of danger to those who work in such places; pollutions in at least some form become inevitable. Such buildings require effective technological channels tools installed in them that can help dispose these wastes without causing harm to people. Human safety comes first and this is the reason why all efforts must be made to ensure people who are accommodated in any building are secure and free from harm. It is important to acknowledge that the new technology comes both with merits and limitations but the advantages supersede and are far much more and better than the disadvantage and this explains why it is witty to clinch and tightly grip onto the modern technology. When the good things that use of technology fetches are weighed against hitches it is likely to bring, it becomes evident that technological application is the best thing that a building can ever have. According to Gray (2008), workers who operate machines that produce chemicals and/or gases are usually at high risk of being exposed to contaminated liquids and gases that can easily create health hazards. Pollution is the initiation of an

Tuesday, July 23, 2019

Media Ethics Blog Post Assignment Example | Topics and Well Written Essays - 1000 words

Media Ethics Blog Post - Assignment Example Perezhilton.com is a website blog by an American blogger and television personality known as Mario Armando Lavandeira, Jr. alias Perez Hilton. This media blog contains tabloid photographs and information that covers gossip items about celebrities. The media blog also covers music awards, private events, and promotes music (Hilton Web). Nevertheless, the blog has been receiving criticism for increasing the media coverage of celebrities, posting misleading information, unethical reporting, and false advertising. All the same, Perezhilton.com remains a fundamental reference to ‘news vs. entertainment’ and has resounding influence in journalism and communication. The Perezhilton.com blog covers and informs the audience on all happenings prior to, during, and after celebrity awards shows like MTV awards (Hilton Web). This generates a real feel of the entertainment events. Consequently, it informs and allows the music fans to vote for the shortlisted nominees for all music and movie wards. Additionally, the Perezhilton.com blog posts audio and video music links of up-and-coming musicians thus promoting their music. Actually, through the "Listen to This" category of his blog, many artists have indeed accessed the international market via music posts on the Perezhilton.com blog (Hilton Web). At the same time, Perez Hilton attends private events and posts live and true information and photographs of himself with the celebrities to the audience. I also like the fact that Perez Hilton speaks publicly against certain vices like discrimination of celebrities and other public figures. However, Perezhilton.com blog discriminates in covering media person alities and celebrities. Indeed, Perez Hilton seemingly has an affinity for given artists and a negative attitude against various celebrities (Hilton Web). Indeed, his proximity in reporting manifests biased coverage on Perezhilton.com blog. He has equally defamed many artists with false unethical allegations that lead to serious lawsuits against him. Additionally, there have been serious allegations of favoritism where Perez Hilton never reports on any information castigating his friend Paris Hilton. Actually, Perez Hilton reporting has been unethical where he makes untrue negative remarks about certain artists on the internet and posting music recordings on the internet illegally. Moreover, he posts rumors of death like that of the death of Cuban President Fidel Castro and misleads the audience on serious issues, as the illness of Michael Jackson that he claimed was a public stunt. More so, the promotion of same sex relationships in the Perezhilton.com blog is unethical. Notably, the website will have a significant impact on the perceptions of news vs. entertainment. Ideally, the website will have a positive impact on the perceptions of news vs. entertainment as it generates true entertainment by informing the audience, allowing their participation, and bringing entertainment close to them. More so, it also promotes up-and coming musicians. Nevertheless, it creates a negative perception through its unethical way of reporting and the biased information it relays which leads to a negative impact on the perceptions of news vs. entertainment. Furthermore, the favoritism in reporting, giving misleading information, discrimination in covering celebrities, and false advertisements generates an overall negative impact o

Monday, July 22, 2019

The Status Of E-Commerce Essay Example for Free

The Status Of E-Commerce Essay Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This chapter present the findings of the survey completed. The survey was conducted through the distribution of questionnaires. Such instrument contained three parts with a total of 21 questions. Each part dealt with a distinct subject matter which is vital and relevant to the aims of this research.   All questions are centered on online shopping through Chinese websites and the attitudes and beliefs of people that influence their choices. The discussion will follow the flow of the questionnaire beginning with demographical questions.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   A total of 250 questionnaires were distributed. However, only 221 were considered valid. The remaining 29 were either never returned or invalid due to the incomplete answers or information. Demographics of the Sample   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Determining the demographic characteristics of the respondents is a vital element of any research. Such demographic information allows the researcher to create a profile of the sample. Furthermore, demographic characteristics may influence certain responses from the sample which may then lead to vital information for the research.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Of the 221 respondents, 125 were male and 96 were female. These figures are conducive to the study as the sample is not dominated by either gender. The ages of the respondents were varied. However, the greatest number of respondents placed their age between 19 and 29. 82 responded that they were between 19 and 29 while 63 responded that they were between 30 and 39. Shown below are the graphs of such findings: It was also determined that most of the respondents held undergraduate degrees. 82 members of the sample placed their educational background at the undergraduate postgraduate level. Likewise, only 18 of the respondents said that they did not finish high school. The graph below shows the breakdown of the sample based on educational background: The following question dealt with the monthly income of the members of the sample. 31.67% of the sample placed their income in the 2000 to 4000 RMB bracket while 25.34% said that the income was in the range of 4000 to 6000 RMB. Only 19 respondents placed their income to be less than 2000 RMB a month. The following chart provides an illustration of such findings: With such demographic information provided, a profile of the sample can then be created. Based on the given demographic data, it can be assumed that majority of the sample is made up of professionals who hold jobs that provide sufficient or more than sufficient income. Also, these individuals are well-educated which would mean that they are up-to-date with the present trends and technologies. The monthly income is highly relevant for it is a determinant of the dispensable income that is used purchase goods and services that are offered through e-commerce websites. The age of the respondents is likewise vital for people between the ages of 18 and 39 have been identified as the most likely to make online purchases. (Pew Internet, 2008)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The demographic profile of the sample reflects the widely acknowledged belief that online shoppers are younger, better educated, and high income earners. As Pew Internet (2008) stated, â€Å"Some expected demographic factors account for some of the differences between online shoppers and other internet users. Online purchasers tend to be younger, better educated, and higher-income than those who have not bought a product over the internet.† Internet Usage and Online Shopping   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The next segment of the survey aimed to gather data on the respondents’ internet usage and online shopping. The survey reveals that most of the respondents are seasoned users of the internet. As the graph below would show, most of the member of the sample have been using the internet for more than 3 years. Specifically, all of the respondents have used the internet with almost 78% of them acknowledging that they have used the internet for more than three years.   Not only are the respondents seasoned users of the internet, they are frequent users as well. Question 6 aimed to gather information as to how often the respondents used the internet. Out of 221 responses, 104 indicated that they use the internet daily while 75 answered that they accessed the worldwide web weekly. The responses show that the internet is an integral part of the everyday life of the respondents. For the majority of them, not a week goes by without them accessing the internet. Such data is graphically shown below: Respondents were likewise asked to state whether they have ever made an online purchase. 155 said yes while 66 said that they have yet to complete an online transaction. This means that 70 percent of the respondents have had experience using e-commerce websites. Thus, the information that they would share will be extremely valuable for their opinions would be based on actual experiences. Also, another question in the survey asked those respondents who have made an online purchase to indicate when their last online transaction was. 95 out of the 155 who said yes answered that their last online purchase was a month ago. This figure represents 61% of the total number of respondents who have made an online purchase. Provided below is the graph of the said data: What such data indicates is that online shopping has yet to become a habit for the respondents. Despite their frequent use of the internet, actual online purchases do not occur that often. This likewise shows that online shopping is not the primary purpose of internet usage.   Such finding is further strengthened by the information shown in the following graph. The answers to question 8 indicate that the respondents use the internet for reasons other than online shopping. 45% of the responses show that the participants only have occasional use of the internet to look for products or items to buy. These figures strengthen the earlier assertion made. They indicate that people have yet to fully utilize the internet for online shopping. The responses to question 8 are summarized below: It is evident that online shopping has yet to become a habit for the Chinese. Although they are habitual users of the internet, online shopping is not their primary purpose for accessing the worldwide web.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Having established the frequency of online shopping among the respondents, it is vital to determine how much they like online shopping. Question 10 in the survey specifically dealt with this matter. The responses gathered reveal that the respondents are not very akin to online shopping. 70 respondents rated that they only somewhat like online shopping and only 6 responded that they liked online shopping very much. Also, 34% of the respondents acknowledged that they were not so much fond of online shopping.   The graph below provides a detailed view of the responses: These responses reveal that there is hesitation on the part of the respondents about online shopping. Although they did not clearly reject the idea of purchasing products through e-commerce websites, the majority of them were uncertain as to how much they liked online shopping. There are reasons as to why such hesitation exists. It is critical that such reasons be explored as analyzing such information is vital to the achievement of the objectives of this research.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In question 11, respondents were asked to state the reasons why they purchase online. They were required to rate the given reasons on the basis of importance on a scale of 1 to 8 with options given a rating of 1 being the most important. Respondents were given 8 options and were given the freedom to pick and rate as many reasons as they want. To determine which reason was deemed as the most important reason for shopping online, the researcher devised a scoring scheme. A rating of 1 was given a score of 8. The score decreases as the level increases. Based on this scheme, if an option is given a rating of 8, it will gain a score of 1. The following table summarizes the point system: RATING GIVEN EQUIVALENT NUMBER OF POINTS 1 (Most Important) 8 2 7 3 6 4 5 5 4 6 3 7 2 8 (Least Important) 1 Based on the given point system, the score of each option were determined. This involved multiplying the number of responses for a given option at a given level/rating by the corresponding score/points. The sum of scores of a given option at the different levels is the total score of the said option. This process determined the option that was given the highest rating. The total score determines how important the respondents perceived the reason to be. Such method revealed that the most important reason why the respondents shopped online was the convenience of online shopping. Convenience received a score of 1087. This score was far greater than the rest since the next highest score was 793. This is the score accumulated by the reason that people shop online for items that are not available in local shops. The reason that had the lowest score is curiosity, which only garnered 57 points. The graph below summarizes the results of the said question: It is clear that the people shop online primarily because they find it convenient. Since online shopping does not require them to physically be at the shop, they can make purchases from anywhere and from any store online.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Another important factor that the questionnaire dealt with was the products that consumers commonly purchase from e-commerce websites. The 12th question in the survey aimed to gather such data. Respondents were asked to identify the products or services that they usually buy online. They were free to choose as many products or services as they want. The responses to the said question are summarized in the following graph: From the graph above, it can be seen that two types of products are commonly purchased online. Books and accessories were chosen 132 and 122 times respectively. It must be noted that these were the only two choices which had more than 100 respondents. The product that had the least number of responses was second hand goods, which was picked by only 28 respondents. This result is critical for auction sites which are the common sources of second hand goods. However, elaborating on such finding is beyond the coverage of this research.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Just as the respondents were asked to name the reasons why they choose to shop online, they were likewise asked to state the probable reasons why they would not purchase products or services offered through the internet. The results of question 13, which deals with this subject are vital for it will help explain the hesitation of respondents with online shopping as revealed in the discussion of the 10th question of the survey. (see page 8 of this section) Respondents were given 16 different reasons as to why they would not shop online. They were asked to rate their choice in terms of importance with options given a rating of 1 as the most important reason why they would choose not to complete online purchases. Furthermore, they were allowed to pick and rate as many options as they want. Since this question involves ratings, the results will be evaluated using the same methodology that this researcher utilized for question 11 of the survey. The same point system will be used. Although respondents had 13 different ratings to choose from, only ratings 1 to 8 received at least one response. Therefore, the researcher decided not to include ratings 9 to 13 in the evaluation and the same point system earlier described will utilized. The results of the evaluation, specifically the total points for each of the options given are graphed below: It is evident from the graph that the respondents were hesitant about shopping online because of the uncertainty with the quality of products that are sold in e-commerce websites. Such reason received a score of 1,243, the highest score among the given choices. The results also indicate that part of the reason why people refuse to shop online is their uncertainty over the security and privacy of the personal information they are required to give out when making online purchases. The following choices and their corresponding scores refer to security issues associated with online purchases: I worry about people may misuse my personal details 882 I do not trust online payment systems 862 I worry about someone may steal my credit card details online 714 I feel unsafe to provide personal information online 649 I do not trust e-commerce companies 574 These options obtained 5 out of the top 7 scores. Such finding is highly significant for it pinpoints a critical concern regarding online shopping, the security of personal and financial information. Furthermore, this result reveals the need to address such security concerns in order to better ensure the safety of online shoppers.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Another question that the respondents were asked to answer was whether they have had a bad experience with online shopping. This was succeeded by a question asking those who have had bad experiences to describe such. Of the 221 responses, 83% said that they have yet to have a bad experience with online shopping. The 17% or 38 respondents who declared that they have had a bad experience with online shopping were asked to describe their experience. The results of such question and the preceding question are shown below: Question 15: Please you briefly describe the experience  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   No response when I required the vender to replace the goods. 19 Network outage issues. 4 Vendor delayed refund when I return the goods. 15 The results indicate that online shoppers commonly have trouble after the sale has been made. Dealing with the vendors after the sale has been completed is the problem that often arises that thereby leads to the online shopper having a bad experience. The results of question 15 are indicative of this finding since 34 out of the 38 responses named vendor-related issues.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The same respondents who said that they have had a bad experience with online shopping were asked, in question 16, to indicate what such bad experience led them to do. It is important to note that not one of the 38 respondents said that the experience led them to stop shopping from the Chinese e-commerce websites completely. Instead, 21 out of the 38 respondents said that their bad experience made them more careful in dealing with and completing online transactions with Chinese e-commerce websites. Such finding indicates that bad experiences with vendors do not deter people from continuing to shop online. Instead, such bad experiences only heighten the shoppers’ awareness of the risks or possible issues that they need to look out for when shopping from such websites. Preferred Payment method = Security   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Questions 17 and 18 focused on the payment method preferred and the reason why they preferred such method. The results of question 17 show that payment on delivery was the most preferred payment method by online shoppers as 117 of the 221 respondents chose it. Paypal was the second most preferred method with 56 responses. Respondents indicated that their choice of payment method is influenced primarily by the security that such payment method. 218 out of 221 respondents cited â€Å"Most Secured† as their reason for picking the payment method they prefer. Payment on delivery is indeed the most secure method since the shopper need not worry about paying for the item and not receiving it. It is the most guaranteed method since it does not put the shopper’s money at risk.                   In the next question, the respondents were asked to determine how relevant certain factors are to their confidence in Chinese e-commerce websites. For each given factor, the respondents were asked to state how much they agree or disagree with the statement. The table below summarizes the responses to the said question: The table reveals several critical findings. First, it shows that most people are wary of the information contained in websites. In other words, the respondents are uncertain of the website’s contents. Product quality is also a major concern of online shoppers. This finding is consistent with the results of earlier questions in the survey.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The final two questions in the survey dealt with the respondent’s opinion on security and trust issues with regards to e-commerce websites and the relevant steps that they believe should be taken to address such critical issue. All of the respondents agree that the trust issues of Chinese e-commerce sites should be addressed and tackled. All 221 respondents stated that tackling such issues is important for the improvement and development of Chinese e-commerce websites.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The last question of the survey asked the respondents to give their recommendations as to how the trust issues of Chinese e-commerce websites should be addressed. They were likewise asked to determine the rank of their reasons from 1 to 10 with 1 being the most important and 10 being the least important reason. The table below presents the summary of results for the said question: From the data gathered, it is apparent that people see the need for e-commerce laws in China to be established. Furthermore, most of the recommendations that the respondents chose or cited are related to the laws that govern e-commerce in China. Thus, it is evident that they believe that protecting the welfare of online consumers is the duty of the Chinese government. Among the ten recommendations listed, the two that were picked as most important on more occasions are those that concern government duty in the process. Summary   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The discussion has shown that Chinese internet users, although seasoned and experienced users of the internet, are not keen on making online purchases. Based on the data gathered, it is evident that their hesitation to purchase goods online is rooted in their concerns over the security of their information and on the possibility that the websites are fraudulent. Furthermore, the survey revealed that trust is a very critical issue to internet users. Finally, the survey showed that Chinese online shoppers believe that it is the China’s government’s duty to protect the welfare of online shoppers through the establishment of relevant laws and policies. References Pew Internet. Online Shopping: Internet users like the convenience but worry about the security of their financial information. Feb. 2008. Retrieved online 18 Aug 2008 from: http://www.pewinternet.org.

Wal-Mart principles Essay Example for Free

Wal-Mart principles Essay Introduction As pointed out by Craig Herkert, Senior Vice President and Chief Operating Officer for Wal-Mart International, â€Å"Every day low prices, quality assortment, and exceptional service are Wal-Mart principles that transcend borders, languages and cultural differences.† (Daniels, Radebaugh and Sullivan, 2004). Wal-Mart’s success in the retail industry depends on how the company may incorporate its customer strategy in a market completely different from its home business. Wal-mart inevitably find their operations growing more complex. One reason for this is the large number of individual decision makers (buyers, distributors, and store personnel) who have a significant effect on strategy and execution and who add complexity through their everyday actions (Bianco et al, 2007). Another is that the high fixed costs of retailing exert continual pressure to add new products and capture incremental revenue. Not only does this ratchet up complexity, it also raises the cost of selecting, buying, and delivering each product. The predictable result: buyers have to make too many decisions for too many different types of store on too little information. Although sometimes Wal-Mart underestimate the cost financial and operational of added retail complexity (Bailey and Schultz, 2000). In financial terms, this complexity is directly reflected in selling, administrative, and other operating costs. Among department stores, the cost gap between good and average performers can be 3 percentage points or more; among specialty stores, up to 5 percentage points. In operational terms, lower sales, slower inventory turns, and lower gross margins occur when buyers cannot cope with the complexity of their business. These effects can readily be seen in the gap between good and average performers markdown rates: a 2.5 percentage point difference among department stores; 4 percentage points among specialty shops. Leading retailers have achieved these performance premiums by reducing complexity. They have stopped trying to be everything to everybody (Bianco et al, 2003). Regardless of their format or the market segment in which they compete, each has created a huge competitive advantage by focusing product offerings, narrowing market concentration, standardizing store size and layout, and simplifying the buyers job. Retailer like Wal-mart carries tens of thousands of items: 70,000 stock keeping units (SKUs) is not unusual for a discounter; a full-line department store often carries close to a million. Many of these items require fundamentally different sourcing and distribution methods and are in demand for only a few short months before seasons and hence assortments change (Bonache, 1999). One retailer we studied carried more than 1,200 different styles of knitwear, yet only 5 percent of them contributed almost 40 percent of sales. This retailer was carrying the cost of offering all those SKUs when less than half that number would provide a selection adequate for most customers needs. Internal Analysis Several Companies in the commercial and industrial business where Snap-On is major players are in a race that gets more difficult every year, with bigger, stronger, and more innovative competitors. In addition, the rules of the race are constantly changing with the emergence of electronic business, globalization, disruptive technologies, innovation and convergence of industries. Competitors who have been in other races suddenly join your race with strength, technology, and new approaches to the market, often becoming instant leaders (Palmer, 1997). Moreover, it is possible to lead in this race for long periods of time and to create significant value for shareholders and employees. To make the possibilities of these, different sectoral organizations need a strategy that sustains their strong position in the race, anticipates changes, and helps them continue to lead. The rules to be ahead are the following: †¢ Competitive advantage is short-lived †¢ Today’s competitive advantage is tomorrow’s competitive requirement †¢ Companies without a competitive advantage should expect, at best, zero return. For a variety of reasons, many companies have underdeveloped strategies. Sometimes an underdeveloped strategy is effective, a single spectacular idea can carry a business a long way, even without an explicitly stated strategy. Management intuition and organizational willpower can substitute temporarily as well. However, with the pace of business today, industry leaders need to think through and plan for the next industry lifecycle or risk being dethroned (Briscoe, 2004). It is possible in today’s environment to fully engineer a company from a strategic point of view in a way that was unthinkable five years ago. Advances in technology, combined with worldwide deregulation and decontrol of product and financial markets, allows new flexibility in the implementation of company strategies. SWOT Analysis Strengths. Compared to the retail industry competitors of Wal-mart, the company exercises an almost direct access to the market-base. Since the company originated and developed in the U.S. economy, Wal-mart is highly of advantage compared to its competitors. This gives Wal-mart is well- experience, skilled, and knowledgeable of the people in the market. The centralized aspect of Wal-mart ensure capitalization of its brand globally which results to good return of investments and profits while the decentralized business approach of the franchises extends possible business opportunities for the entire business in terms of product innovation, design, research and development. This makes possible continuous growth of the business enterprise through a pool of creative staff and employees that contribute to the competence, security, image and integrity of the company. Other strengths of the company are as follows: Good strategic positioning has been the foundation of company’s success. High employee productivity as a result of its good scheme. Vibrant and independent culture is supported with a generous profit-sharing plan and stock ownership plan for all employees. Technology innovations. An efficient management team. Constant focus in the company’s mission. Weaknesses. Basically, tools and equipments in today’s modern world is everywhere, with the help of globalization nonetheless. However, the problem with this is that world of the retail business has witnessed a dramatic shift in the way in which the market are determined away from an intrinsic interaction between the regional environmental factors towards the dominance by global capitalism. Retail goods are now being considered more of a retail material rather than a medium on which artists can express their artistic ideas to the fullest (Hill and Jones, 1998). Globalization has made statements of different cultures available to every individual around the world. Although mass production of this merchandise is being created with extensive consideration on production budget and marketing research, Wal-mart should be sensitive to the importance of maintaining art in its products and designs so as not to fall into the common retail-crafted orientation perception regarding today’s market. As such, the development efforts and research initiatives and projects that the company invest in order to maintain continuous operation and competitive position call for wise selection of business opportunities as well as skilled leadership and risk management skills among its decision-makers. But more importantly, the company should foster tasteful and intrinsic creative designs for the consumers at the lowest possible prices. Good relationships with the suppliers and other business affiliations for the successful operation of the company lie should be observed. Moreover, technological innovations and facilities in tools and equipment marketing should be fully exhausted in order to serve the economic and aesthetic purposes of the company. Opportunities To survive in todays world globalization is important. Wal-mart have a wide opportunity to go global to improve and expand its business. They also have the opportunity to include more overseas supplier, which will actually give them cost advantage, as suppliers then can be available on a local level. Before they are able to take these opportunities they need to fix themselves up more strongly (Child and Faulkner, 1998). They also have the opportunity to use available technology to improve their functioning and to gain competitive advantage. Additional content area or expansion is an opportunity for the company to boost its market coverage. Joint ventures with other company paves way for integrating new business practices and would definitely be a good basis in their plans for international expansions. The company can form additional alliances that will facilitate the culture and business systems of a foreign neighbor to support its foreign growth strategy. Consumers want to effortlessness of shopping. Growing opportunities in internet shopping. Increase in dollar value Threats The continuous transformation of the monopolistic economic environment of U.S., the competitors in the local as well as the international children’s merchandise is a major intimidation to Wal-mart since highly acclaimed, recognized, popular and sophisticated companies in the fashion industry can exercise the same market penetration initiatives of the company. In particular, there are highly stable local apparel manufacturers that supply and distribute materials, designs and products to other internationally acknowledged clothing lines. These local manufacturers are also distributing their products and designs in the local market under their own respective brand names. At the international level American designs and products are existent and likewise persistent in increasing market share in lucrative business locations (Hessan and Whiteley, 1996). Small towns do not want entry of Wal-mart. Variety of Competition in the national, regional and local market. There is a powerful competition among substitute products As a result of the very competitive rivalry substitute products come in easily. Conclusion Wal-mart have been the best performers have learned to focus on a well-defined target market even as they expand geographically (Shah and Phipps, 2002). Wal-Mart, for example, has largely maintained its focus on customers with similar needs as it expanded across regions. The traditional Wal-Mart customer lives in a small town and is willing to drive a great distance to stock up on a wide range of items at the best possible price (Shah and Phipps, 2002). As the search for growth has brought Wal-Mart closer to urban customers, the company has had to support its merchandising performance by making additional investments in systems, communications, and executive travel in order to coordinate its widespread store network. Wal-Mart is considered to be a geographically-dispersed retailer, maintains market focus by expanding its store network region by region, building up enough scale in each one to justify regional buying offices dedicated to the specific needs of local customers (Briscoe, 2004). References Bailey, S. Schultz, D. (2000). Customer/Brand Loyalty in an Interactive Marketplace. Journal of Advertising Research, 40 (3), 41. Bianco, A. , B., Der Hovanesian, M., Young, L., Gogoi, P. (2007). Wal-Marts Midlife Crisis; Declining growth, increasing competition, and not an easy fix in site. Business Week. New York, April 30, 2007, Issue 4032, page 46. Bianco, A., Zellner, W., Brady, D., France, M., Lowry, T., Byrnes, N., Zegel, S., Arndt, M., Berner, R., Palmer, T., A. (2003). IS WAL-MART TOO POWERFUL? Low prices are great. But Wal-Marts dominance creates problems for suppliers, workers, communities, and even American culture Business Week. New York: Oct 6, 2003., Iss. 3852; pg. 100 Bonache, J. (1999). The International Transfer of an Idea Suggestion System. International Studies of Management Organization. 29(4), p. 24. Briscoe, D. R. (2004). International Human Resource Management: Policies Practices for the Global Enterprise. New York: Routledge. Child, J Faulkner, D (1998), Strategies of cooperation: managing alliances, networks, and joint ventures, Oxford University Press, Oxford. Daniels, J, Radebaugh, L Sullivan, D (2004), International business: environments and operations, 10th edn, Prentice Hall, London. Hessan D. and Whiteley R.. (1996). Customer Centered Growth: Five Proven Strategies for Building Competitive Advantage. Cambridge, MA: Perseus Books. Hill, C.W.L. Jones, G.R. (1998), Internal Analysis : Resources, capabilities, competencies, and competitive advantage. Strategic Management Theory. An Integrated Approach. 4th ed, Houghton Mifflin Co., pp 107-139 Palmer, A. (1997) Defining Relationship Marketing: An International Perspective, Management Decision, Vol. 35, No. (4), pp. 319-21, ISBN 0025-1747. Shah, A Phipps, T 2002, Wal-Mart Stores, Inc 2001. In: F. David, Strategic Management: Concepts and Cases, pp. 41-55, Prentice Hall International, Inc. Shaoming, Z. and Tamer, C. (2002) The GMS: A Broad Conceptualization and Measurement of Global Marketing Strategy, Journal of Marketing, 66 (4), 40-56

Sunday, July 21, 2019

Marketing analysis of Taylors Education Group

Marketing analysis of Taylors Education Group Taylors Education Group has been a household name in Malaysia for four decades known for producing all-rounded graduates with on-hand work experience which will enable them to be competitive and assertive in the working environment. Taylors has contributed much to Malaysias economic prosperity seeing as Taylors is expanding not only domestically but also internationally. Taylors started with humble beginnings, with only a small block in Jalan Pantai, Kuala Lumpur offering only one program. Today, Taylors has 5 campuses including the very recently established Taylors Lakeside Campus which offers a multitude of courses which comprises of diploma, undergraduate and postgraduate studies. Apart from that, Taylors 10 year mission is to become a university of 20,000 students renowned for its teaching excellence and the distinctive quality of its graduates. At the rate Taylors is growing, there is no doubt that mission can be accomplished in 5 years let alone 10 years. Taylors effective miss ion statement, Wisdom. Integrity. Excellence is undoubtedly one of the reasons why many students are attracted to this educational institution. Taylors mission statement positions students to think of Taylors as a premium and exclusive educational institution that offers excellent education quality while inculcating discipline at the same time. Taylors core purpose to educate the youth of the world to take their productive places as leaders in the global community also plays an important role in drawing students into the educational institution. In addition to that, Taylors also promises 5 core values in all of their programs. Firstly, Taylors believes in Respecting and caring for each other. Taylors promises to create an environment where everyone is appreciated disregarding personal, cultural, racial or religion differences. Taylors does this by providing a safe place to express your opinions. Besides that, exercising responsibility will also be encouraged. The efforts of individu als and groups will also be recognized and respected. Secondly, Taylors also believes in Being dedicated to a culture of excellence. Taylors will systematically and purposefully do the best they can to achieve their organizational goals. Thus, Taylors will continually look for methods to improve themselves through continual learning and adopting methods which will contribute to Taylors long term objectives and goals. Thirdly, Taylors also believes in Openness in communication. Taylors promotes being honest in daily exchanges, and if this is done in a kind and respectful manner, trust and understanding will be developed. Fourthly, Taylors believes in Acting with integrity. Taylors will obey the codes of conduct and be ethical in their daily processes to build a culture of openness within the organization and society at large. Fifthly, Taylors also believe in Being passionate in what we do. Taylors believes by doing things passionately, it will inspire others to want to do better. Las tly, Taylors believes in Creating enjoyable environments. This assignment is mainly to study the Taylors education group, in terms of how they market their programs and education. The main focus in this assignment is the newly built Taylors Lakeside Campus. From here, well analyze how the Taylors education group has successfully turned this project into a great profit making campus. This assignment will study their marketing strategies by analyzing the companys strengths, weaknesses, opportunities threats (SWOT Analysis), the companys segmentation and positioning strategy and the companys marketing mix. Well also provide recommendations to improve their marketing strategies at the Taylors Lakeside Campus towards the end of this assignment. SWOT Analysis The two types of internal factors that affect the company to reach its objective are strengths and weaknesses. Firstly, the strength of Taylors college is it has a strong background and a history of 42 years. The forty two years of history include proven experience in university level education and training with growing emphasis on research to further enhance the quality of the university. This can be proven by the recognition from Ministry of Higher Education with the prestigious Excellence in Research and Development award 2005/06. Taylors University had developed a strong brand name and causes an increase in market share and brand equity. It has a famous slogan that is Wisdom, Integrity, Excellence. Taylors Universitys drive for wisdom, quest for integrity and thirst for excellence made it become a famous academic institution and is able to deliver a high quality education. Besides that, the strength of Taylors university is it offers a variety of high value and quality national r ecognized programs. The university offers architecture, design, biosciences, business, communication, IT, engineering, hospitality, law and medicine program. The academic activities adapted to the more recent socio-economic trends resulting in the development of a broad range of courses. The variety program that Taylors University provided proven that it is a powerful one stop education organization. The linking arrangement with foreign universities ensures the quality assurance of the courses and examinations. Moreover, the high development in teaching and learning skills are the strength of Taylors university. The establishment of Integrated Teaching and Life-long Learning Center at Taylors (InTeLLeCT) is to ensure the provision of relevant, innovative, and excellent learning experiences at Taylors. It creates learning experience through excellent teaching, outstanding academic student support initiatives, and an innovative and technology-driven learning environment. (Taylors Univ ersity 2011) By investing in InTeLLect, it ensures the continuous improvement of human resources by creating an experienced academic and support staff to educate more quality students. The high quality lecturers can be proved by one of the lecturers from the School of Engineering Dr TVN Padmesh for being awarded with the Young Scientist Paper Award 5th International Conference of Environmental Science and Technology 2010 in Texas, USA from July 12-16. In addition, geographical location and comfortable campus environment also adds to the strength of Taylors University. Taylors University is located at Subang Jaya and there are high amount of population and fast rising developments. It is well connected to the cities of Kuala Lumpur, Shah Alam and the townships of Petaling Jaya therefore it is a good location. Taylors university offers the best campus environment and provide the best facilities among the competitors. The facilities provided are new and comprehensive, an example of fac ilities that is provided is the library, sports and recreation centre, hostel, lecture theatres, student central, sick bay, experiment labs and food court. (Taylors 2011) On the other hand, the weakness of Taylors University is it is charging a higher price than others competitor in the education market. For example, Taylors university is charging double the price of Help University College for the business program. The higher price charge sometimes will affect the consumer decision to choose Taylors university and unsatisfied consumers may end up going to other universities. Taylors university must ensure that the price charged should create superior value and provide value-added services to the consumer. Besides that, the weakness of the university is the choices of twinning program that it offers are limited. For example, Help University College is the biggest competitor at this point because it offers more university choices and has better partner universities. Taylors university should improve the choices for partner universities to gain its market share. The two types of external factors that affect the company to reach its objective are opportunities and threats. The opportunity of Taylors university is there is an increase in the awareness of the importance in attaining tertiary education. Nowadays, most organisations are hiring employees with either a diploma or a bachelors degree. Therefore, this encourages Malaysian parents to finance their childrens education to get at least a Bachelors degree for a better career. Besides that, Malaysia acts as one of the world excellence centre for education had created an opportunities for the university by an increases in international student. It is estimated that there are about 70,000 international students from more than 100 countries currently studying in public and private higher education institutions in Malaysia. (Study in Malaysia Handbook 2011) Malaysia is a diverse country with rapid economic development, stable politic, disaster free and it offers an affordable cost to the intern ational student for higher education opportunities will attract more international student in the future. Taylors university can consider providing more choices for world best partner university to increase its opportunity by increase competitiveness and grow its market share. The threat of Taylors university is it facing the increasing size of its competitor. For example, to cope with the increasing demand for quality education in the region, HELP University College will be opening a new state of the art Green Technology Campus in Subang 2 The campus is 600,000 sq ft and it is strategically located between Kota Damansara, Subang, Sungai Buloh, and Shah Alam. Due to the increase awareness of public to prevent and preserve the environment, HELP University College new campus will attract more attention from the public. By improving the facilities of Help University College in the new campus, providing a better partner university choice and offer a lower prising education, Taylors university will faces a higher competition. (HELP International Corporation 2008) Direct competitors are firms that offer products and services that are functionally the same. The direct competitors of Taylors university are those private university college and college for example HELP University College, INTI University College, Sunway University College, and KDU College. Those University and college offer the similar courses and the differences between them is the brand familiarity and the quality of education provided. Taylors University branding themselves by providing quality education, good campus environment and good facilities have made differences between itself with other brands. The extra value that Taylors provide causes a higher price charge for the program. Taylors university have to ensure that they will deliver what they had promised the consumer to gain market share and create customer satisfaction for building customer relationship. An indirect competitor is the businesses that are offering close substitutes products and services. These competitors are probably targeting the markets with a same or similar value proposition, but delivering a different product. The indirect competitors of Taylors university are the governments higher education institutions such as polytechnics, teacher training colleges, community colleges, Public college and Public universities. Some examples of these institutions are TAR College, University Malaya, and Politeknik Port Dickson(PPD). The public system has become competitor because the number of public universities and community colleges is increasing. The cost of studying in a public university is cheaper because 90% of the public universities funding came from Malaysian Government and the balance 10% is from student fees. (MoHE 2008) Segmentation Positioning Strategy Pie Chart 1.1 The pie chart shows the Malaysian household monthly income distribution. The information is sourced from MP Amirshams reply to Dr Michael J Devarajs question during a parliament assembly in July 2008. Demographic factors are the most popular bases for segmenting customer groups. One reason is that customer usage rates, needs and wants always very closely with demographic variables. Besides, demographic variables are easier to measure than other types of variables. Therefore, demographic segmentation is used in this assignment which divides the market into groups based on income for education in Taylor University Lakeside. The three market segments which relevant are low-income, medium-income and high-income. INCOME SEGMENTATION Low-income segment (households monthly income RM4-5k) Medium-income segment (households monthly income RM5-10k) High-income segment (households monthly income >RM10k) Firstly, low-income segment indicates the households monthly income between RM4000 and RM5000. The people from this segment only able to pursue the education provided by national university or governments subsidy universities. Their families cannot afford the expensive tuition fees because they have to spend the money in their daily expenses. Secondly, medium-income segment indicates households monthly income between RM5000 and RM10000. The people from this segment able to pursue the education provided by private universities in the country such as Taylor University and Sunway University. The standard of living is higher, so they willing to spend more money in education. Thirdly, high-income segment indicates the households monthly income more than RM10000. The people from this segment normally will send their children to foreign country for world-class education in United Kingdom or Australia. They totally have to power to cover the expensive living costs and tuition fees of their c hildren at overseas. Taylors Education Group targets affluence customers which are under medium-income segment with high quality facilities and services. This is because customers from medium-income segment have the right size and growth characteristics. Generally, the customers from this segment plan to study locally. With the approximately RM96000 of households annually income, people will choose to study at private college in the country. Local private colleges and universities find it easy to choose a differentiation and positioning strategy. In several cases, two or more competitors will go after the same position. Therefore, each of them will have to find its ways to set itself apart. For instance, Taylor University, Sunway University and Help University put in a lot of effort to decide on a value proposition. Therefore, Taylors Education Group well known for quality in certain segments differentiates itself by the outstanding image, service and slogan. The slogan had successfully been used to communicate with the consumers by sending the message of value and promises that the university will deliver. The slogan of Taylors university had effectively create differentiation between its competitor and position itself as providing superior customer value and leads to the gain of competitive advantage. Furthermore, Taylor goes for more for more positioning strategy. More for more positioning involves providing the most classy services, products and changing a higher price to balance the higher costs. Taylors Education Group differentiates its offer by invested at least RM450 million to build a unique lakeside campus that appeal to people from the medium-income segment. Taylors study environment and facilities are way better than its competitors. Taylors Lakeside Campus is a state-of-the-art modern tropical university campus, designed to meet the needs of students and in line with the nations goal of becoming a local centre of education excellence. The campus is surrounded by a revived 5.5 acre human-made lake and its landscape made up of trees, groundcovers, flowering shrubs, and water plants, which provide a stimulating and rich natural environment. In contrast, compared to Help University College, who using the same for less positioning strategy just to offer a great deal to everyone. By offering this positioning strategy, customers will tend to join Help University College due to the affordable tuition fee. However, the low-prices brand in an effort to lure customers away from market leader. Because of the low cost operations, the buildings and campuses separated and students have to take the shuttle bus to reach specific building for classes. This action brings a lot of inconvenient to customers and triggers them from joining. Customers from medium-income segment normally will chase for the university that fulfil a minimum requirements such as everything in one campus and safety. Besides, high quality study environment and facilities will also make customers chase for it. By offering high quality education and services, Taylors Education Group hopes for higher sales and stronger position within targeted market segment. The lakeside campus successfully developed a stronger position and creates more total sales than its competitors. Although its overall tuition fee above RM18000 per year, compare to other colleges is much more expensive, but customers are still willing to study in this university. As a result, Taylor Lakeside Campus gets a more stable, much greater market share than other college could. Taylors Education Group planned positions that give their services the greatest advantage in selected target markets, served the preferences and needs of well-defined targets markets and yet succeeds because it just meet the right value proposition. Taylor provided impressive and comfortable 4-storey library, retail Podium, Experimental Theatre, 600-pax Auditorium, 300-pax Lecture Theatre and outdoor Amphitheatre. The 4-storey library is so amazing, packed with different computers, facilities and resources. There are also different types of closed study room and discussion rooms in the library which allows students to have discussions among their friends without interrupting other students in the library. Besides, the Retail Podium is where inter-connecting streets lead to banks, cafes, convenience stores, shops and an array of service amenities. Everything of this made Taylor Lakeside campus so outstanding compared to others. In conclusion, the More for More positioning strategy totally more successful compared to The Same for Less. Marketing Mix (4Ps) Analysis Product The main product that Taylors University offers is in a form of service in which they provide education in return for tuition fees. However, there are also other products that the Taylors education group offers which include accommodation and basic necessities such as food and drinks which is provided by the campuss cafeteria and restaurants around the campus. The product that the Taylors education group provides is one of the reasons to the new Taylors Lakeside campuss success. Firstly, Taylors University has provided potential students with many choices of programs which include a variety of pre-university programs, a range of bachelors degree programs and also a PhD program in business administration. With a mixture of so many different courses, students who are seeking a tertiary education would find Taylors as a potential institution to further their studies. It is also important that we recognize the programs Taylors University offers are programs which are popular among todays students and also in demand among parents. With a combination of providing a wide-range of education programs along with programs which are popular, Taylors have found the perfect product that it can offer to the education market. Another type of product that Taylors University offers is the accommodation and dining service. With the presence of a student hostel located next to its main campus, students who are from overseas or a different state need not worry for a place to stay, or for transportation as the campus is only a walking distance away. Not to forget, the many different restaurants and also the cafeteria that is located right at the student hostel. This is one of the advantages the Taylors Lakeside campus has over its competitors, students who study at Taylors need not go a long distance in order to search for good and quality food. With the convenience that is provided by Taylors University, many students find themselves attracted to its product. The campuss structural design has also gained much attention from both prospective students and also parents. Investments made for its attractive architecture has definitely made an impact on the success of this campus. In a survey our group did, we have found that 50 percent of students were initially attracted to study at this new campus due to its attractive design. Price On average, to complete a bachelors degree at Taylors University could cost up to RM80, 000. This price of course varies depending on the course the student engaged in. Here, we will concentrate on the pricing strategies that Taylors University had used for a bachelor of business degree. At Taylors University, to complete a 3 year bachelor of business program would cost an average of RM80, 000. This fee is arguably rather high for a university in Malaysia. When compared to HELP University College, the price to complete a 3 year bachelor of business program is two times higher of that of HELPs. It only cost up to RM40, 000 in order to obtain a business degree at HELP University College. So why is it that Taylors University is making much higher profits compared to HELP University College? The answer is simple, the target market are of those among the medium income segment. From pie chart 1.1, it can be seen that 20.7 % of Malaysians are either in the medium-income segment or the high- income segment. For parents or guardians earning more than RM5, 000 a month, it would not be much of a problem to afford to send their child to complete their studies at Taylors University, provided that they have proper financial management. However, people may question to why parents send their child to Taylors University when they can save the money and send their child to a different university. The answer again is simple; parents want their best for their children. Most parents who are in between the medium-income segment and the high-income segment would not hesitate to send their child to a more renowned University provided that it has quality education, a superior campus and also a convenient location. Place Taylors main campus is located in a location that is accessible to target market. It is strategically located in the urban areas of Subang Jaya which is well known as a student hub consistent of all types of household such as average and above average income household. It is also well linked with other township such as Bandar Sunway, Petaling Jaya, Shah Alam, and Klang making it a easily accessible educational institution for students to pursue their studies. On the other hand it is located thirty minutes away from Kuala Lumpur which is the capital city of Malaysia. In addition Subang Jaya is linked by highways for example Lebuhraya Damansara Puchong and Federal Highway allowing students who does not live in Subang Jaya reaching the campus much easier. Promotion Taylors uses several promotion tools to persuasively communicate customer value and build customer relationship. One of the tools is advertising. Taylors does their promotion through major media types such as television, newspaper, direct mail magazines, radio and the internet through websites such as facebook twitter, youtube and their very own Taylors website. Another promotion tool that Taylors uses is sales promotion. Taylors encourages purchases of their product by offering discounts such as early birds discount for consumers who register early or pay their fees early. Another discount is children and siblings discount for those who have other siblings studying in the same institution. Other incentives are scholarship such as top achiever scholarship which is based on SPM results. Another promotion tool used is building good public relations. Taylors sponsors events such as sports competition, charity events to build their image in the public. Other than that Taylors uses other public relation tools such as news and written materials to promote their product, facilities and so on. For example Taylors promote the beauty of their new lakeside campus and the facility it provides in a magazine. The last promotion tool that Taylors use is personal selling. Taylors uses sales person such as consultants and counselors to promote their product and build customer relationship through personal interaction. Taylors present their sales by giving a presentation of the products offered at Taylors in events such as career day and Taylors open day. Another example is Taylors sending some sales people to high schools to promote their product and to build long term customer relationship with students who are soon taking their SPM and to those who havent decided what they want to do after they finish their secondary school education. Recommendations Product One way to improve the product Taylors University provides to students is to provide more parking spaces for students who drive to the campus. Based on our observation and research, we have found that many students are unhappy with the parking system and lack of parking spaces imposed by Taylors University. Some have even threatened to leave if a solution is not found. To avoid a bad reputation and a loss of consumer confidence, it is important that they construct more parking lots or change their parking systems. However, a cheaper and more convenient way for the company is to adjust students timetables in order to make the campus less crowded at certain times. For example, the management at Taylors University can move more morning classes into the afternoon in order to avoid over-packed parking slots during the morning. Price A pricing strategy that we would recommend is to provide more student aid for programs which are less popular among students and parents. The student aid would be for those who are not able to afford the entire tuition fees imposed by Taylors University. This way, the company will also benefit from less popular programs as parents from lower-income segments will also be able to afford to send their children for these less popular programs.. From the way we see it, the Taylors Lakeside campus has been profiting huge amounts of money from student fees due to the crowded campus, therefore, we would not recommend a change in price of student fees in order to avoid a congested campus which may deteriorate its quality. An increase in price of student fees may well cause Taylors University to lose its main target segment which are the medium-income earners as for most of them, the price is just right. It may however not have much effect on the high-income earners as it is still affordable f or most of them. Also, reducing the price by a fair amount may cause more low-income earners to send their children to Taylors University to further their education. This would cause the campus to be overcrowded which may in turn decline the campuss quality. Therefore, the only recommendation we have is for Taylors University to provide more student aid for programs which are less popular among students and parents. However, Taylors Education Group is a private limited company which therefore inhibits us from viewing their financial statements which may prove our judgements wrong. Place In order to improve its placing Taylors would need to built more campuses in much more strategic locations in order to make its product easily accessible. Kota Damansara and Puchong are some of the examples of strategic locations. Other than building more campuses, Taylors can build more campuses that offers tertiary educations. Right now the only place students can undergo their tertiary education is at Taylors main campus. To have more campuses that offers the same tertiary education would improve its placing. Promotion On the other hand, to improve its promotion, Taylors can increase its outside sales force. Taylors can do house to house personal selling by sending sales consultants to houses. Instead of the customers come to Taylors, Taylors can go to their potential customers. This introduces a much more personal interaction between the two or more people. Customers will feel much more relax to express their need since they are in their own house. Consultants will be able to observe and make quick adjustments to solve customer problems. Another advantage of doing this house to house personal selling is it can build a much better customer relationship. Another Taylors can do is to improve its promotion is by providing much stronger incentives by offering promotional tools such as premiums or patronage rewards. For example Taylors offered Ali cash reward for being a loyal consumer by studying in their institution for three years. Conclusion The Taylors Lakeside Campus is currently becoming more and more popular. Due to the rising competition from other educational institutions such as HELP University College and Sunway University College, Taylors Lakeside Campus has to constantly strive to distinguish themselves from other educational institutions. Taylors being a well-known educational institution for over four decades certainly has its advantages. This gives a perception to people that Taylors is a well-established educational institution on the basis of the amount of years it has been running. Thus, Taylors is able to use this opportunity to charge a higher price compared to other local universities. However, Taylors must deliver the peoples moneys worth through academic excellence and by providing a conducive environment. Take for instance Taylors Lakeside Campus. Taylors Lakeside Campus still manages to draw many students despite the expensive cost of education because of its past records of academic excellence and also the very peaceful and relaxing environment at Taylors Lakeside Campus. Taylors Lakeside Campus managed to combine both elements of work and play which is very much commendable. Taylors Lakeside Campus targets the high-income segment. This is very much evident in the cost of education of Taylors which is comparably higher than its competitors. Taylors Lakeside Campus is very appealing as it practices the More for More positioning strategy. This strategy requires Taylors to provide outstanding facilities and environment. In return, Taylors will earn a higher brand positioning in the minds of the people. This will then attract them to enrol in Taylors. Taylors Lakeside Campus is a force to be reckoned with in the education industry. From strategic locations to academic excellence, Taylors Education Group is certainly making a tremendous effort up till now for it to be able to withstand the adversities of time. In short, no educational institution is perfect. However, one can stri ve to deliver the best value it can to satisfy customers. Taylors Lakeside Campus can indeed be classified into that category as the epitome of educational institutions.