Thursday, September 19, 2019
Stages Of Group Development :: GCSE Business Marketing Coursework
Stages Of Group Development Group development is broken down into five stages. These stages are forming, storming, norming, performing and adjourning. The following is a description of how our group passed through each of these stages. Forming In the first stage our group was formed. Each member of our group introduced themselves. We basically made small talk in an effort to relieve some of the initial awkwardness. We discussed our expectations of the project; we then talked about when and where our meeting would be. We had to figure out when all of the group members were available and to find a convenient place to meet that was accessible by all members. Storming In the storming stage our group members began to take on specific roles. Mandy and Cory seemed equally capable of taking on the leadership role. As we each tried to establish our own identity within the group, we found out what was expected of us from other members. We didn’t have an official leader, but if one person had to be named I’m sure all of the group would agree on Mandy. Norming During this stage are we pooled our individual thoughts and expectations together. We discovered that we were all in agreement on how the project should be executed. Discussions concerning the project went smoothly after this point and more progress was made. In this stage I discovered that I had a higher degree of cohesiveness with Mandy than with other group members. This could be due to the fact that Mandy and I were the only female members in the group. It could also be due to the fact that Mandy was the group â€Å"leader†and I looked to her for information on group meetings. Performing In this stage our group shifted from discussing and establishing objectives to actually taking the actions necessary to accomplish them. We finished our surveys and began to pass them out to be completed. Each member of our group was responsible to carry out the task effectively and within the designated time limit.
Wednesday, September 18, 2019
gifted education and funding Essay -- essays research papers
How Lack Of Funding Effects Gifted Students In Ohio      This year is a landmark year for Gifted Education in Ohio; for the last few years the number of gifted children in Ohio has been growing steadily. This year for the first time the percentage of children in Ohio that were identified as Gifted and Talented finally equaled the percentage of children who were served in Special Education Classrooms. There is only one small problem with this statement. The percentage is equal only if you count the students who are identified as being Talented and Gifted, not served. There are currently only 11% of all Talented and Gifted students being served in the State of Ohio.      The Ohio Department of Education and the Federal Government gave a combined total $773 million for Special Education Programs around the state of Ohio this year. This amount includes professional development, classroom supplies, technology acquisition, testing supplies, and teacher salary. Gifted Education received $48 million from Ohio and no funding from the federal government this year. This $48 million can only spent on teacher’s salaries. This $48 million cannot be used to pay for any benefits the teacher will get by working in a school district, benefits like health insurance, and retirement. These expenses are expected to be paid by the school districts out of their funds.      In 1984, Ohio required that early identification ...
Tuesday, September 17, 2019
A World Without Mathematics :: essays research papers
According to teachers for as long as any can remember, one cannot survive in this world without mathematics, yet thousands in the United States alone cannot grasp mathematics, cannot learn mathematics because of â€Å"Dyscalculia†(also called Dyscalcula). Dyscalculia is a term meaning "specific learning disability in mathematics." People who suffer with a poor memory for all things mathematical have many other symptoms and characteristics. Taken as a whole, these coexisting conditions comprise what is termed as "the dyscalculia syndrome." Dyscalculia is an MLD (mathematics learning disability) that affects approximately ten percent of the US population, yet almost no one (shy of those diagnosed with the MLD) knows that it even exists. People who suffer from Dyscalculia have severe anxiety attacks, as well as short term memory loss associated with mathematics, numbers, rules, and retention. Other symptoms of Dyscalculia range from normal or accelerated language acquisition, poetic ability, good visual memory for the printed word, difficulty with the abstract concepts of time and direction, inability to keep track of time, and may be chronically late. The diagnosis of such a MLD is a simple test that ranges from a few hours to as long as a day. It is, however, difficult to recognize because it appears similar to math anxiety, lack of studying, and just simple mistakes. Doctors believe that there are thousands in the world who have Dyscalculia, but go undiagnosed. The test is also very expensive, costing too much for the average person or college student to pay for (ranging from five hundred dollars into the thousand or so range). As is typical in dyscalculia syndrome, students are usually gifted in most other academic areas. They may be in Honors classes, achieve excellent grades, and be tenacious learners. Math, however, confounds them, because it defies their learning history. They can read, understand, work the problems, but instead of remembering and mastering the material, it is mysteriously forgotten sometimes an hour later. To some, it seems like a lack of effort; to those with Dyscalculia it is a nightmare. The typical response to this phenomenon is to try harder. Thus, students apply all of the strategies used for success in other classes to the mathematics task. But success is temporary. The student willingly exerts extraordinary effort and invests unprecedented amounts of time, yet success eludes her. At this point, the student becomes frustrated by seemingly insurmountable obstacles. But she is further aggravated by the fact that she cannot identify and define the obstacles to her achievement.
Development and Potential of China in the Global Market
The Chinese economy has been showing rapid growth in the past decade and there seems to be a potential for strong growth into the foreseeable future. China has undergone a great transformation from a nation that was one of the world’s greatest opponents of globalization into a committed advocate of globalization. The transformation set in after 1978, when Deng Xiaoping and other leaders began to focus on market-oriented economic development. The Chinese economy is today far more open than Japan and this has been made possible largely due to adoption of the rule of law, of commitment to competition, of widespread use of English, of foreign education, and of many foreign laws and institutions (Overholt, 2006).With respect to liberalization and globalization, China has effectively become an ally of U.S. and Southeast Asian, supporting freer trade and investment than is acceptable to Japan, India and Brazil. Global marketing is becoming more and more important along the years with the increasing trend in internationalization. In the early 1980s it dismantled collective farming and allowed private enterprise again.Now it is one of the world's top exporters and is attracting record amounts of foreign investment. However, China's transformation is not matched by political change. Having gained admission to the World Trade Organisation, China is benefiting from increased access to foreign markets, but in return it is under an obligation to expose itself to competition from abroad. Relations with trading partners have been strained over China's huge trade surplus and the piracy of goods (BBC, 2006).China’s large and rapidly growing market has attracted large volumes of FDI in recent years (US$54 billion in 2004) as transnational corporations have invested heavily in order to benefit from the country’s emerging middle class and its higher purchasing power (GlobalEdge, 2006). However, there are some hurdles to be crossed if China is to develop to its full potential in the global market. According to Zhang Lichuan, a Director with the Statistical Department of General Administration of Customs of China, there are four major obstacles to Chinese foreign trade (People’s Daily Online, 2006): ·  China should deal with pressure from international markets that are gradually becoming saturated. ·  The cost of Chinese exports is increasing, partly because of the higher cost of labor and environmental protection. ·  Increasing international trade protection has caused China to stumble into difficult territory. In fact, China has been involved in the world's largest number of anti-dumping cases in recent years. · The trade imbalance between China and other countries is getting worse. As the Renminbi appreciates, Chinese enterprises will face greater exchange risks in import-export trade. Increasing pressures from the appreciating Renminbi will create new requirements and challenges for Chinese enterprises engage d in import-export trade.Analysis of the country’s global competitiveness:According to the CIA World Fact Book, China’s economy grew at an average rate of 10% per year during the period 1990-2004, the highest growth rate in the world. China’s gross domestic product (GDP) grew 10.0% in 2003, and even faster, 10.1%, in 2004, and 9.9% in 2005 despite attempts by the government to cool the economy. China’s total trade in 2005 surpassed $1.4 trillion, making China the world’s third-largest trading nation after the U.S. and Germany (CIA Factbook, 2005).Export-Import figures: China's merchandise exports totaled $762.3 billion and imports totaled $660.2 billion in 2004. Its global trade surplus surged from $32 billion in 2004 to $102 billion in 2005. China's primary trading partners include Japan, the EU, the United States, South Korea, Hong Kong, and Taiwan. According to U.S. statistics, China had a trade surplus with the U.S. of $201.6 billion in 2005 (C IA Factbook, 2005).China and WTO: China has taken important steps to open its foreign trading system and integrate itself into the world trading system. In November 1991, China joined the Asia-Pacific Economic Cooperation (APEC) group, which promotes free trade and cooperation in the economic, trade, investment, and technology spheres. China formally joined the WTO in December 2001. As part of this far-reaching trade liberalization agreement, China agreed to lower tariffs and abolish market impediments (NTE Report, 2005). By 2005, average tariff rates on key U.S. agricultural exports dropped from 31% to 14% and on industrial products from 25% to 9%.The agreement also opens up new opportunities for U.S. providers of services like banking, insurance, and telecommunications. China has made significant progress implementing its WTO commitments, but serious concerns remain, particularly in the realm of intellectual property rights protection. China is now one of the most important market s for U.S. exports: in 2005, U.S. exports to China totaled $41.8 billion. U.S. agricultural exports have increased dramatically, making China the fourth-largest agricultural export market (after Canada, Japan, and Mexico). Over the same period (2001-1005), U.S. imports from China have risen from $102 billion to $243.5 billion.Export growth continues to be a major driver of China's rapid economic growth. To increase exports, China has pursued policies such as fostering the rapid development of foreign-invested factories, which assemble imported components into consumer goods for export, and liberalizing trading rights. In its eleventh Five-Year Program, adopted in 2005, China placed greater emphasis on developing a consumer demand-driven economy to sustain economic growth and address global imbalances. The April 11, 2006 U.S.-China Joint Commission on Commerce and Trade (JCCT) has produced agreements on key U.S. trade concerns ranging from market access to U.S. beef, medical devices, and telecommunications; to the enforcement of intellectual property rights, including, significantly, software (CIA Factbook, 2006).Foreign Investment: Since the early 1990s, China has allowed foreign investors to manufacture and sell a wide range of goods on the domestic market, and authorized the establishment of wholly foreign-owned enterprises, now the preferred form of FDI. China is now one of the leading recipients of FDI in the world, receiving $60 billion in 2005, for a cumulative total of $623.8 billion. As part of its WTO accession, China has undertaken to eliminate certain trade-related investment measures and to open up specified sectors that had previously been closed to foreign investment. Major remaining barriers to foreign investment include opaque and inconsistently enforced laws and regulations and the lack of a rules-based legal infrastructure. Foreign exchange reserves were $819 billion at the end of 2005, and have now surpassed those of Japan, making China†™s foreign exchange reserves the largest in the world (NTE Report, 2005).Competitive Advantage:A study by GlobalEdgeTM titled, â€Å"Market Potential Indicators for Emerging Markets – 2005†, studies the market potential of 24 countries identified as â€Å"Emerging Markets†by The Economist. The Emerging Economies are countries that have very high growth rates which means enormous market potential. They can be distinguished by the recent progress they have made in economic liberalization. These countries are characterized by their increasing need for capital equipment, machinery, power transmission equipment, transportation equipment and high-technology products. An indexing study is made by MSU-CIBER to help the companies compare the Emerging Markets with each other on eight dimensions (Lopez-Claros et al, 2006):Market Size:  With regard to market size, China stands first with India and Russia in the second and third places respectively.Market growth rate, China is third after Venezuela and Malaysia.Market Intensity: China is ranked last among all other emerging economies.Market consumption capacity: China is 12thCommercial infrastructure: China is 14th.Economic freedom: China ranks 24th.Market receptivity: China is 12thCountry risk: China is 11thOverall market potential index: China is third after Hong Kong and Singapore.Asia: Change in percentage of Annual disposable income 1999-2004 (WEF, 2006)China                                59.2Hong Kong, China              3.3India                                  35.4Indonesia                           57.1Japan                                   3.5Malaysia                            43.6Philippines                         8.2Singapore                          37.8South Korea                      46.8 Taiwan                           15.3Thailand                         26.8Vietnam                          36.2(Source: Euromonitor International from national statistics)The above table shows that of all competing economies in the global market, China h as shown the greatest growth within the period 199-2004.Since 2001, the World Economic Forum has been using the Growth Competitiveness Index (GCI) developed by Jeffrey Sachs and John McArthur. According to the GCI Index in â€Å"The Global Competitiveness Report 2006-2007: Country Highlights†, China’s ranking has fallen from 48 to 54 in the overall competitive ranking Consistent with the cautious macroeconomic management of its authorities and extremely high GDP growth rates, the macro economy pillar of the GCI shows a very high rank, 6th overall in the world.This reflects China’s low inflation, one of the highest savings rates in the world, and manageable levels of public debt. China’s ranks in the GCI indicators regarding penetration rates for the latest technologies are actually falling behind. Secondary and tertiary school enrollment rates are better than they are in India, but still low by international standards. A number of indicators which capture the sophistication of the business community also show lower ranks in 2006 than last year.By far the most worrisome development is a marked drop in the quality of the institutional environment, as shown by the sharp drop in ranks from 60 to 80 in 2006 in the institutions pillar of the GCI, with poor results across all 15 indicators, and involving both public and private institutions (Lopez-Claros, 2006).Conclusion:China has made a dramatic entry into the top position of the world’s economic stage. China's robust economic performance can be seen as an inspiration for other developing countries. Within two years after its historic entry into the WTO, China is the world's fourth largest trading nation after the United States, the European Union and Japan. However, it must be remembered that China is not only a major exporter but also a major importer, and its modernisation programme and export industries have required, and will continue to require, billions of dollars worth of equipment and raw materials.During the first nine months of 2003, China's exports rose by 32 percent while its imports surged ahead by 41 percent. China's performance shows that developing countries can and do benefit from economic openness and integration. The reduction of tariffs has increased competition in the domestic market with the arrival of new suppliers. This has led to lower prices and larger choice for consumers, and has lowered the prices of essential inputs for many industries, thereby enhancing their competitiveness. In the first two decades of reform, the number of absolute poor in China dropped by about 200 million.Per capita income has grown by sixfold, and farmers and city dwellers are able to live an enhanced lifestyle. However, to realize its goal of doubling its GDP by 2010, China will have to face up to a number of important challenges. As the Chinese economy shifts from being a rural economy to an urban one, the main challenge for the economy will be to creat e enough jobs in the industrial and services sector to absorb the surplus labor from agriculture, which generates 17 percent of China's GDP and 50 percent of employment. Next, the benefits of rapid development should be spread out to avoid a widening of income differences between rural and urban areas.To reach its full potential, growth in the private sector has to be matched by an equal development of a stable market-oriented legal framework. China has managed to handle these profound structural changes while ensuring that it sustains a stable social environment. China needs the opportunity of market access and the legal guarantee of consistent and non-discriminatory trade rules that are offered by the WTO. As a fully fledged member of WTO, China should use its position to realize the objectives set out in the Doha Development Agenda.
Monday, September 16, 2019
How Retail Operations Management Objectives Can Best Be Achieved
Retailing is now one of the world’s largest industries and it is in a permanent state of change. This change has been accelerating over the past decade, (Zentes et al. , 2011: Pg. 1). This sector is not only more competitive than in the past but the consumer is also increasingly more demanding and more complex, (Gordon et al. , 2006: Pg. 22). Retailers have to predict the desires of fickle customers, buy and allocate complex sets of merchandise, set the right prices, and offer the right promotions for each individual item.However, there are often wide gaps between supply and demand, which leave retailers holding too much of what customers don’t want, and too little of what they do’, (Friend and Walker, 2001: Pg. 133). This is a huge challenge which faces the retailer of today. Fisher et al. , (2000: Pg. 115) maintains that retailing’s formula for perfection is offering the right product in the right place at the right time for the right price. This is no e asy feat for the retailer and with merchandising decisions becoming more complex, the penalties for errors too are even steeper, (Friend and Walker, 2001: Pg. 33). This is why Gordon et al. ,(2006: Pg. 24) notes that in today’s cutthroat market, there is no place for a ‘head in the sand’ attitude. The importance of the areas of ‘retailing’s formula for perfection’ as stated by Fisher et al. , (2000) will now be examined theoretically and subsequently researched in the context of a successful, independent fashion boutique, Emporium Kalu. Right Product ‘Retailers capture their customers’ interest by the nature of their product range’, (Varley, 2006: Pg. 8).Fashion markets have become increasingly complex with consumers fragmenting into small groups who have very different needs and demand very different products. Varley, (2006: Pg. 8), maintains that product helps to position a retailer against it’s competitors within a given market, but problem many companies today face is that they sell very similar products and services to those of their competitors, (Ingenhoff et al. , 2010:83). Therefore, tremendous pressure is put on retailers to offer the customer something different, (Dvorak et al. , 1996: Pg. 121). In making roduct decisions for individual stores, buyers and retail managers have long relied on instinct, (Friend and Walker, 2001: Pg. 133) but in today’s marketplace many more factors need to be considered. What is at the core of the ‘right’ product is the retailer’s target market, they need to be given a good reason to choose one retailer over another, (Varley, 2006: Pg. 8). Four major trends which affect the consumer’s choice of product have been emerging in recent times.Since the consumer is at the core of what the ‘right’ product is, the retailer must pay attention to these trends and how they relate to their target customer. . The Savvy Co nsumer Whether you are a value fashion retailer or a high end department store, it is necessary to acknowledge that today, the consumer is more tuned in to the latest trends and styles in the fashion industry. Consumers have become more savvy about fashion as they can now access information about various fashion events around the world almost immediately through internet media like blogging, video sharing and podcasts. An increased number of weekly glossies, e. g. Grazia, also fuels this consumer demand for the latest look at a faster pace (Barnes, 2006:260).The consumer now knows what ‘should’ be in-store and retailers will suffer if they cannot provide this to their customers when they expect it. 2. Celebrity power Many Irish consumers find their fashion influenced a great deal by celebrities, with this being the most likely facet of their lives to be influenced by celebrity culture, (Mintel, Clothing Retailing-Ireland, 2011). Star style has never been more accessible . As a result of this constant exposure to celebrity lifestyle, 8% of Irish consumers claim that celebrities influence their purchases, (Mintel, Clothing Retailing-Ireland, 2011).This report continues to detail how this high level of interest in celebrities and their lifestyles is beneficial to the clothing retailing market and can be used as a tool to attract consumers by adding value to a clothing retailer’s product range, and help to drive sales. This can be seen when brands of clothing celebrities wear or clothing lines where a retailer collaborates with celebrities and well known fashion designers become popular. â€Å"In a celebrity-obsessed world, it’s no surprise that we all want to copy what famous faces are wearing†, (www. gsn. com, 2010). Celebrities, according to Olympio, (2007) represent a â€Å"glamour that most of us have idolized and wanted for our own†. This concept can be said to be the reason why people emulate styles they have seen on celebrities, for example, Joan Collins, who in the soap opera ‘Dynasty’, made shoulder pads a signature trend of the 1980’s. This can also be seen today where Sarah Jessica Parker, in ‘Sex and the City’ helped make Manolo Blahnik, the shoe designer, a household name, (www. wgsn. com, 2010).Retailers who choose to sell brands that are publicly linked or associated to a celebrity will stand to be of benefit if their target consumer aspires to be like said celebrity. 3. The Concept of Fast Fashion Gordon et al. , (2006: Pg. 22), remarks that retailers have to deal with constantly shorter product lifecycles. Fast fashion is a business strategy which aims to get new fashion product into stores in the shortest time possible and reduce the processes involved in the buying cycle consequently satisfying consumer demand, (Barnes et al. , 2006: 259, Bruce et al. , 2006: 330).This notion of consumer demand driving the fast fashion industry demonstrates the need to have the ability to act accordingly and respond quickly to these demands. Today, successful fast fashion companies have been moving away from the traditional fashion buying cycle of seasonal forecasting from historical sales one year in advance, (Bruce et al. , 2006:330), to creating smaller collections more frequently, (Barnes et al. , 2006: 261). Barnes et al. , (2006: 261), believe this is as a result of fashion trends being moulded by â€Å"what is happening on the street, in clubs, lifestyle hotspots and not 12months in advance of a selling season†.Long buying cycles have become inappropriate for the demands of modern fashion consumers. Bruce et al. , (2006: 329), maintain this is because fashion consumers â€Å"expect and thrive on constant change and so new products have to be available on a frequent basis†. It is no longer sufficient for retailers to have the same collection in-store all season; product ranges need to be constantly refreshed in order to be à ¢â‚¬Ëœright’. â€Å"Quick response is a concept that has become synonymous with the textile and apparel supply chain†, (Barnes et al. , 2006: 263).This approach to supply chain management is regarded as information driven, minimal pre-season ordering is engaged in and more frequent, in-season small orders are placed to take advantage of improved speed and flexibility, (Christopher et al. , 2004 as cited by Barnes et al. , 2006: 263). This quick response method allows companies to respond almost instantly to catwalk trends that would appeal to their target audience, therefore providing them with the ‘right’ product. The success of this high volume/low cost business model is down to constant and regular updates of fashion collections.For these types of retailer, (value) this has historically been the ‘right’ product as it satisfies the need for ‘newness’ by the consumer at a low cost, something which is central to what their target market seeks. 4. Quality Vs. Quantity: Durability has been found to be a key concern for Irish consumers as four in five R. o. I. consumers claim to make their clothes last, (Mintel, Clothing Retailing-Ireland, 2011). With the occurrence of the recession, consumers are more inclined to want to get the best value for money out of all the products that they buy.In terms of the clothing industry, they are increasingly likely to claim that they make their clothing last a long time. According to Mintel (2011), 81% of R. o. I. consumers agree with this statement as they note between 2007 and 2010 there was an 11 percentage-point increase in agreement with this statement among R. o. I consumers. This highlights that Irish consumers, are increasingly moving away from disposable fashion (i. e. clothing that they may only wear a few times), and towards buying clothing that they expect to last a long time, illustrating a higher demand for quality.Consumers who are now searching for high qualit y investment pieces that will last are driving sales within the premium womenswear market. â€Å"Nearly a quarter (23%) of women are opting to invest in fewer items of superior quality clothing that will last, a substantial increase of 10 percentage points since 2010†, (Mintel, Is the Era For Fast, Disposable Fashion Coming to an End? , 2011). While consumers may be seen to be cutting back in the recession but they are still willing to pay for high quality clothing, (Mintel, Clothing Retailing-Ireland, 2011).With this trend growing, it is necessary for the retailer to evaluate whether their target market is interested or seeking this quality in order to provide the ‘right’ product to them. The type of product on offer in Emporium Kalu has been described as having ‘fashion aesthetic that is unlike anything you will find anywhere else in Ireland’, (Harris, 2011). The Emporium Kalu customer is a ‘business woman, a student, a mother, a grandmother, anyone who wants to be feminine, elegant and unique. She appreciates beautiful design, stunning quality fabrics and subtle detail.She likes to wear timeless, great fitting pieces but puts them together in an individual and personal way’, (Louise Flanagan, co-owner of Emporium Kalu, 2011). The owners of the boutique, who are in business nearly fifteen years now, really know their customer. They have fantastic know-how on what customers want, (Harris, 2011). They pride themselves on offering their consumer exclusivity and uniqueness in their labels, (Louise Flanagan, 2011). They deliver on this by offering high quality brands such as Giles, Galliano, Maria Grachvogel, Alice by Temperley, M Missoni, Vivienne Westwood Red Label, and D&G.Kate O’Dwyer, (co-owner of Emporium Kalu) has stated that ‘even if we have a label that might be stocked somewhere else, we buy it differently. We buy it with the Emporium Kalu attitude. So it is always different to what you will fin d elsewhere’, (as cited in Harris, 2011). They are constantly searching for the ‘next big label’ so keeping a close eye celebrity fashion is a must. It is through this product differentiation and clear focus on their customer that Emporium Kalu have succeeded in buying the ‘right’ product for their store.Right Place/Location ‘A common cause of business failure among retailers is the selection of the wrong store location’, (Mazze, Pg. 17). Zentes et al. , (2011: Pg. 203), agrees and adds that a good location can lead to strong competitive advantages as location is ‘unique’ and thus cannot be imitated by competitors. It is necessary however for the location of a store to be appropriate to the retail business because in order to reach the right kind of customer it is important for a store to be in a street that reflects its image, (Varley, 2006: Pg. 173).The success of a retail store depends on many factors such as the storeâ⠂¬â„¢s location in relation to the region and the state, its situation within the community, its location on the street or in the shopping centre and the characteristics of the community and trading area, (Mazze, Pg. 17). The retailer also needs to take into account, the customer’s perception of the shopping task. Mazze explains this consideration in that a customer who wishes to obtain speciality goods like gourmet foods is not greatly concerned with how far he must go or the length of time it takes to get them.This implies that store location can be directly linked to the merchandise available within. This theory put forward by Mazze can be seen in practice by Emporium Kalu. The store is located in Naas, Co. Kildare, Ireland. This is not a large, heavily populated city with substantial daily footfall. It is a relatively small commuter suburb where many people reside but work in capital city Dublin. The store itself is positioned on the corner of a pedestrianised lane which meets the main street of Naas.This location ‘offers the kind of environment that attracts a more discerning shopper ‘, (Varley, 2006: Pg. 173). While Emporium Kalu’s location may not be preeminent, it offers the product ranges and service that consumers are willing to travel for. The owners leverage it’s merchandise and style expertise in a way that makes up for what it may lack in store location, so much so that it has been honoured with being ranked as one of the fifty best boutiques in the British Isles, (www. telegraph. co. uk). Right Quantity at the Right TimeVarley, (2006: Pg. 110), holds that getting the ‘right’ quantities of merchandise delivered into the retail organisation at the right time is necessary to satisfy both basic customer needs and retail management goals. The implications of getting product levels wrong are great; too much stock will threaten the profitability of a range and increase holding costs and too little stock wil l cause a loss of customers and sales, both direct and complementary. These errors can occur as a result of late deliveries, late orders or choosing the incorrect size mix.Choosing the perfect size configuration for a company store program requires careful calculation, (Cook Kimbrough, 2008: Pg. 36). A retailer must decide how much of a particular product line is needed for their store, (Varley, 2006: Pg. 110). Similar to the other ‘right’s, this decision is highly dependent on a fashion retailers target audience. Cook Kimbrough, (2008: Pg. 36), is of the opinion that a good rule of thumb is to think of the bell curve when choosing your sizes for your range. Sizes in the middle tend to sell about twice as much as the sizes at the extreme.As can be seen, the ‘right’ quantity includes many different factors and cannot be considered independently. Emporium Kalu operates with an exclusive image. They pride themselves on offering product that is ‘different to what you will find somewhere else’, (O’Dwyer as cited in Harris, 2011). They achieve this exclusivity factor through both the labels they offer and through their size configuration. They are not the business of mass selling product. ‘We want the consumer to feel special when she wears her clothing and she can be confident that she will not see other people wearing the same outfit.That is why we buy our ranges relatively wide as opposed to deep’, (Louise Flanagan, 2011). Therefore, the co-owners do not purchase large quantities of each style in-store which creates the ‘exclusive’ feeling. This strategy has proven to be extremely successful for this boutique and is the ‘right’ quantity for their customer and their retail organisation. Right Price Setting prices in today’s intensely competitive and dynamic retail environment is a complex task and developing a detailed understanding of consumer behaviour and buying patterns lies at the heart of any successful pricing strategy, (Gordon et al. 2006: Pg. 22). Retailers can use price in conjunctions with product quality, customer service quality and selling environment to make a very clear statement about the image they wish to communicate and about where they belong in the market, (Varley, 2006: Pg. 13). Therefore, pricing is directly linked to a retailers specific target market and the level of product quality they offer. This is clearly seen in the three main retailing pricing structures that Zentes et al. , (2011: Pg. 256) puts forward; 1. Value/ budget Price: Focuses on low cost and high volume selling of product. 2. Medium Price: Focuses on 3.Premium Price: Focuses on attracting customers who are less concerned with price and more interested product quality and prestige. In order for a fashion retailer to succeed with their pricing structure and charge the ‘right’ price, product quality and consumer expectations need to be aligned. Empo rium Kalu is positions themselves in the premium price segment. They attract the type of consumer described in this segment by Zentes et al’s, (2011: Pg. 256). Kate O’Dwyer verifies this and states that ‘we're about beautiful pieces because there are people who appreciate the special and unique’, (cited in Harris, 2011).Whilst on buying trips, price is not at the forefront of the minds of the co-owners, it is more about whether the collection and quality is a good fit for the store and their customer, ‘if we love a piece, we have to have it’, (Flanagan, 2011). This pricing structure prevails for Emporium Kalu as they attract customers who are in pursuit of product prestige and service over lower cost. Right Personnel What has not been included in the ‘retailing’s formula for perfection’, and should be considered as a new addition, is having the right personnel to carry out the final step in the retailing process, that is, s elling product to the consumer.The rational for this inclusion is for without converting store visits into sales, the bottom line cannot be achieved and the other ‘rights’ are meaningless. Kotler et al. , (2005:446), too acknowledges personnel importance and states that it is a key way for a brand to stand out in the mind of the consumer is through providing top quality service as service is important to customers. Having the right personnel in your store can be an invaluable tool in creating and retaining customer loyalty. Individual help by floor staff, personal shoppers or stylists will enhance the customers experience and perception of the brand.For â€Å"it is here at the customer interface that business is either won or lost†, (Jackson et al. , 2009:84). This idea of the right personnel is central to the store offering in Emporium Kalu. The owners Louise Flanagan and Kate O’Dwyer, right from the beginning were focused on not only providing the custom er with exceptional quality products and brands but also exceptional service, (Louise Flanagan, 2011). This outstanding customer service is delivered through unrivalled, individual styling and advice, personal tailoring on garments, an in-store deposit facility and one to one after hours service if required.Co-owner Louise prides the store on having staff who provide first class, attentive assistance for all customers who walk through their doors, (2011). The consumer and their requirements are valued and are given the upmost consideration. This she believes, in part, is the way forward for independent retailers today. Offering the customer more than just a product but an enjoyable experience and advice they can trust so they feel confident in their clothes too. ConclusionIn order for a fashion retailer to achieve its retail operations objectives a number of considerations need to be taken into account and the customer is central to each. When choosing the ‘right’ produ ct, the target customer needs to be at the core of all decisions. Trends in their choices, spending power and what influences them are fundamental in selecting different collections. The product has to have the ability to satisfy the consumer, (Varley, 2006: Pg. 76). Jackson et al. , (2009: 83), maintains that uniqueness in product, a high level of quality and providing unique product benefits are a â€Å"critical differentiator in fashion†.When choosing a retailer’s location, in order for it to be ‘right’, the customer’s perception of the shopping task and the characteristics of the community and trading area need to be considered. If chosen appropriately, location can be a source of competitive advantage. Getting the quantities of merchandise ‘right’ for a retail organisation is highly dependent on a fashion retailers target audience and they what they require. It is a decision that cannot be made independently and is affected by timi ng and sizing issues.In order for a fashion retailer to succeed with their pricing structure and charge the ‘right’ price, product quality and consumer expectations need to be aligned. This will create loyalty among customers if a retailer can deliver on their pricing structure. The proposed additional ‘right’ of retailing, the right personnel could prove to be key in gaining a competitive advantage in the marketplace today. Offering the customer benfits other than the product like an enhanced in-store experience will aid the fashion retailer to endure the current difficult market conditions.
Sunday, September 15, 2019
Argue for the Limitation of the Speed Limits
1) A. A trip to the ocean can be a relaxing escape from the everyday pressures of life. b). You should have always be careful to avoid overexposure to the sun at the beach. 2) 1. Check for punctuation,including capitalization 2. watch for grammatical errors. 3) look for paragraph indentation 4) keep your eyes focused on one line at a time 3). a chiches –are worn out expressions b. I have to face the facts when I’m wrong. 4) Intuitive writing is when you don’t write down anything until you think about the writing project. Researching is a form of prewriting because you’re not writing down anything you are searching for ideas for writing. 5). C. once I get my ham ,mayo,knife,bread and plate to the talbe I start to make my sandwich. I will get out two slices of bread get my knife and spread mayo on both pieces. Then I will place my ham on both sides of my bread. After that I put my slices of bread together . so I can eat my favorite sandwich 6)c. In this world two day it’s hard to find good paying jobs. ood paying jobs are looking for you to have your high school diploma. without an high school diploma you is more likely to be working somewere for minimum wage. me,myself don’t want to work at minimum wage jobs all my life. thats why I have taken it upon myself to go back to school. i am very determined to get my high school diploma and a degree in sumthing I love to do . then hopefully I can get me a good paying job without setting for less. So a high school diploma is very important to my future.
Saturday, September 14, 2019
Build a Bear, Build a Memory
Universidad Latinoamericana de Ciencia y Tecnologia San Jose, Costa Rica Facultad de Ciencias Empresariales January, 2010 Bilingual Business Administration Principles of Marketing Cesar Eduardo Gonzalez Company Case Build-A-Bear, Build-A-Memory Examples of needs, wants, and demands that Build-A-Bear customers demonstrate, differentiating each of these concepts. What are the implications of each on Build-A-Bear actions. Needs: Understanding needs as states of felt deprivation, not created by marketers but basic parts of the human makeup, we can say that Build-A-Bear customers demonstrate the individual need of self-expression, authenticity, creativity, empowerment, choice, individuality, freedom. They also demonstrate the underlying need that people have to entertain themselves. Wants: Although Build-A-Bear clients need to find a way to self-express and entertain themselves, they want to â€Å"step into a (†¦ genuine fantasy world organized around a child-friendly assembly line comprised of clearly labeled work stations†, where they can choose unstuffed animals from a bin, stuff them, include voice boxes, stitch them, dress them, name them, and even receive a birth certificate for their creation. This example is aligned with the idea that wants are the form human needs take as shaped by culture and individual personality. Demands: Giving their wants and resources, Build-A-Bear customers demand specific products that add up to the most valuable and satisfaction. Among the most relevant examples we can mention are both new store locations and accessories. â€Å"Mini-scooters, Hello Kitty bears, mascot bears at professional sport venues, and sequined purses†are also specific ideas that were interpreted as customers? demands by the company. Implication of each (needs, wants, and demands) on Build-A- Bear actions Needs, wants and demands have huge implications on Build-A-Bear actions. Not only by walking where customers walk, periodically checking its stores and assessing its customer service, but also by employing a mix of low-tech and high tech communication methods to interact with customers, Build-A-Bear demonstrates it is a truly customer-centric organization. This allows the company to fulfill their customers? needs, wants, and demands through successful market offerings, orchestrating several products and services to create brand experiences for customers. In detail, describe all facets of Build-A-Bear? product. What is being exchanged in a Build-A-Bear transaction? In my opinion, Build-A-Bear? s product has two different facets. There is a main facet formed by the intangible â€Å"experience of participating in the creation of personalized entertainment†and there is also a second facet formed by a tangible bear that â€Å"children clutch as they leave the store†. The main facet begins when children step into a â€Å"cartoon land†and interact with the different stations of the â€Å"child-friendly assembly line†. The second one, in turn, has the distinctive sign of being unlike any they other object Build-A-Bear customers have ever bought or receive, â€Å"they have a product that they have created†. Identifying these two facets helps us determine what is being exchanged in a Build-A-Bear transaction. Base on the idea that an exchange is the act of obtaining a desired object from someone by offering something in return, we can say that Build-A-Bear presents both an experience and a tangible object to fulfill its customers? needs, wants, and demands. In return, the company receives an average of 25$ per built bear. However, it goes beyond simply attracting new customers and creating transactions. It truly builds and maintains desirable exchange relationships with its target audiences, retaining customers while growing their business. Which of the five marketing management concept best describes Build-A-Bear workshops? In my opinion, The Marketing Concept is the one that best describes Build-A-Bear workshops. By looking for innovative ways to interact with customers and using both low-tech and high-tech methods, Build-A-Bear? s demonstrate that knowing its customers? eeds, wants and demands and then delivering the desired satisfaction are key activities within the organization. As stated before, Build-A-Bear is a truly customer-centric organization. Discuss in detail the value that Build-A-Bear creates for its customers. Because customer-perceived value is the customer? s evaluation of the differences between all the benefits and all the costs of a marketing offer relative to those competing off ers, we will use the marketing offer of Vermont Teddy Bear Company to discuss the value that Build-A-Bear creates for its customers. On the one hand, Vermont Teddy Bear Company promotes its product as the only hand-made bear in America that is guaranteed for life. Thus, it is safe to assume that high quality is an important element of their market offer. On the other hand, Build-A-Bear value for customers comes not only from the tangible object, the bear, but also from â€Å"the experience of participating in the creation of personalized entertainment†, which led us to the following conclusion: Although bears are final outcomes for both companies, Build-A-Bear is giving more at a lower price. And that is why an average of 25$ for a customized product and for the experience of participating in the creation of personalized entertainment is perceived as a marketing offer that gives more value to the customer compared with to the 50$ to 100$ that customers of Vermont Teddy Bear Company have to pay for a high quality bear. Is Build-A-Bear likely to be successful in continuing to build customers relationships? Why or why not? In my opinion, Build-A-Bear is indeed likely to be successful in continuing to build customers relationships. Why? Because behind the actions the company? is taking to: (i) further expand the Build-A-Bear experience beyond the retail stores using its new website, and (ii) entering into new markets by opening at least 350 stores in the US, 120 stores in Europe, and 300 stores in other parts of the world, are two underlying efforts: build a personal connection with customers, and at the same time understand is clients needs, wants, and demands. Universidad L atinoamericana de Ciencia y Tecnologia San Jose, Costa Rica Facultad de Ciencias Empresariales January, 2010 Bilingual Business Administration Principles of Marketing Cesar Eduardo Gonzalez My needs, wants and demands. As the title suggests, the purpose of this paper is to set forth my needs, wants, and demands. Because a common conceptual framework is very useful in every analysis, the first thing I? m going to do is refer to a brief definition of those terms. I will then explain what my needs are, dividing them into three categories: Physical needs, individual needs, and social needs just to make it easy for my readers. Right after, I will take a look at my wants. And I will finish with my demands. Common conceptual framework: Throughout this paper, I will understand needs as â€Å"states of felt depravation†and stick to the idea that they are not â€Å"created by marketers†but â€Å"a basic part of the human make up†. Wants, in turn, will be treated as â€Å"the form human needs take as they are shaped by culture and individual personality†. They will also be described in terms of objects that will satisfy them, focusing only on those objects I can`t afford. I will do this to distinguish my wants from my demands. This means that I will understand demands as those wants that are actually backed by my purchasing power. My needs: Let? s start with the physical ones. Definitively, food and water are on the top of the list. As every human being, I need food to provide my body with the energy it will use each day. I need also to provide it with water to hydrate it properly. But there is a key point here. I? m just referring to limited portions of food and water or let`s say those that are essential for the human body to work. Thus, a 5. 000-calories-per-day diet seems either as a want or as a demand for average people but not as a need. Maybe not behind but next to food and water I would put air and sunlight. Definitively, those two are also among the essential physical needs every human has; and because I? m not the exception, I thought it was important to include them in my list of needs. I understand, though, that in the world not everyone is satisfying this need at a 100%-rate. Good examples of that can be found just by thinking of really air-polluted cities, such as Mexico DF, or thinking of those countries that receive little or no sunlight during several month every, such as Russia or Canada. But let`s thank we are not in any of those groups and move forward. After food, water, air, and sunlight, I would put cloth and shelter. As I mentioned before, I am just talking about basic stuff. Some examples could be a couple of pants, shirts, and sweaters to protect me from the weather and to cover the cloth section. A small house or flat, in turn, will be sufficient to cover the need of shelter. Thus, design cloth and luxury properties would be definitively in people? s wants or demand section, depending on his or her purchasing power. To finish with my physical-needs section, I would mention not only rest but movement and exercise. As every human being, I need to safe hours every day to sleep and rest. I understand the number of hours needed vary from one person to another, but in my case, 7 to 8 hours work perfectly well. Movement and exercise are important needs too. And although it seems that there are a lot of people out there that are not really aware of that, for me, 4 to 6 hours of exercise per week also work for me. Looking now at my individual needs, I would say that freedom and independence along with creativity and self expression are among the top of this list. As most human beings, I need to feel I can express my ideas and take my own decisions without having someone else telling me what to do or how. Here, I am not talking about homework or other duties at work; I am talking about more deep things, such as having someone telling you what to buy, sell, study, or work, where to live, with whom, or how. Sadly, if we look at political extremists, such as communist, not only in history but around us, we could find good examples of that. I consider that having the possibility of learning new things is also an important need, and as such, I included in my list. Here I am not talking about schools or universities, because, in my opinion, those would be wants or needs depending on everyone`s purchasing power. I am talking about learning in general terms. Last but not least, I would include having fun in my individual-need list. I think this is important in people`s life, and for me is not the exception either. I understand of course that for some people more than for others, this could be tough. But even under the worst circumstances people should try. Now, I will proceed with my social needs. In this category I would include affection, sense of belonging and friendship. For me and for every person I know all of them are very important needs that must be somehow satisfied. I would add to this point that satisfying them is not a matter of quantity of friends or people sharing your thoughts and ideas but a matter of quality and how strong are the bounds that you can create with others. Right after I would add respect. For me, this element plays a key role; and just as others, I need to be treated with respect. Acceptance, communication and understanding are also social need. My wants As everybody else, I have different wants. What interested me the most about them is that, apparently, they have no limits; or at least, that seems to be the consensus among most of the economist, especially when they give a look at the principles of the economic problem. Starting with food, and thinking about it not only in terms of tangible products but also in terms of services that would satisfy my wants, I would say that (at least for weekdays) a varied, healthy, home-style menu of food delivered right to my office would be great would probably satisfy my wants. For weekends in turn, I would say that Gourmet restaurants would also be on the list. In terms of cloth and shelter, my wants are also relatively big and considered as a group, they are also unaffordable, at least at this point. I can start by mentioning some tailored suits, long-sleeve shirts and a couple of pair of Italian shoes that match them would also be included. I would also add several ties, made of silk could be included to finish with the formal outfit. Then, for a more casual look, I would by tens of Hollyster & Co. hirts. The reason why I want them is because they have a special fabric that makes it VERY easy to iron them, which safe me a lot of time. Some expensive, and durable black, beige, blue, and brown cotton pants, and jeans could be also on the list. This way I would leave Zara? s cloth behind, which is nice made to last just for a few months. Moving to the sport section, I would include special tennis for runners and several sport outfits. At this point Addidas or new balance will be on the top of the list. Why? Again, is a matter of the perceived quality of fabrics, those brands (and of course others) have invested huge amounts of money to create high-tech cloth that regulate your internal temperature while you are performing any physical activity. Taking about shelter-related wants, I would put a 3 bedroom flat with a nice view, pool, and a tennis court. I can be here in Costa Rica or anywhere else, for example, at Vancouver, Toronto, London, Amsterdam, Rotterdam, etc. At the end it will depend on where job opportunities are. But now, a flat with this description will fit perfectly well with my wants because I would have a room for me and my girlfriend, a room to use as a private office/library, and finally a guest room for family living overseas. Talking about the possibility of learning new things, I want to start a master program in a European university, especially if it is located in the UK or in the Netherlands. Why? Because I really like those countries and their universities are ranked among the top of the list. I would also add many books to my wants list, and here I? talking about really expensive ones. And finally looking forward to satisfy my both social needs of communication and individual needs of creativity, I would definitively add a Mac book air to my list of wants. The reason I choose this product is because it will give me not only the built-in camera and microphone that I use to call them through the internet (because today almost every computer include this feature) but because it wi ll give me the mobility and flexibility I need due to its light weight. Carrying my laptop at the airports won’t be a nightmare. And finally I will be more efficient at one of my hobbies, which is creating graphic material using Macromedia `s programs, because I will not have to wait for my slow PC. My demands: Sticking here to the idea that demands are the type of needs backed to my purchasing power, I have to admit that my list of demands has been self-limited almost to the basics. This means I have voluntarily decreased my level of consumption because I am a point where the act savings became a necessary step to achieve some of the goals I have set. For example, I would definitively include access to sport facilities to train between 3 to 4 times per week (or even more in those weird cases that I have the time and the will) to my list of demands. A gym membership, for example, could work perfectly well. Products and services that give me more useful time and increase my efficiency are also on my demand list. Here I`m talking about a Smartphone and the Voice & Data packages that are offered by the phone company, which gives me exactly what I? looking for: High-speed internet access, interconnected email accounts, access to overseas radio stations, maps, calendar, address book, alarms, cameras, videos, the etc. Even though it is absolutely not among my favorite demands, gas is also on this list. I understand that public transport represent an alternative. But sadly it is slow and time-consuming, so to my regret public transportation services do not work for me. I also demand ingredients to prepare easy-to-cook, home-style food. Let`s say, fruits, frozen vegetables, chicken breasts, meat, milk, cereal, bread, cheese, juice, etc. Thinking about my individual need of learning new things, I demand related products and services that help me to satisfy it. Among the products, books usually play a central role. When it comes about services, in turn, high-speed internet access and being enrolled in university studies are crucial for me. To finish with my demand list, I would include my apartment, which is rented, and all the related public services. Water, light, land phone, is what I? m talking about here.
Subscribe to:
Posts (Atom)