Preparing to Conduct Business Research Res/351

Preparing to Conduct Business RES/351 Preparing To Conduct Business In recent news, Bank of America publically announced its plan to make changes to debit card customer accounts in 2012 (Chang, 2011, NBC San Diego). To date, Bank of America has a â€Å"fee-free† policy on these types of accounts however; new regulations on debit card accounts are a hindrance to the Bank’s ability to maximize return on investments. As a result the bank is considering implementing a surcharge on checking accounts.However, the bank must determine if this will affect the attitudes and behaviors of customers. To achieve this, Bank of America must conduct business research. The Research Question When managers use business research a systematic inquiry to aid in the decision-making process. Because Bank of America has discovered the defined the management dilemma, a refinement of the research question is necessary. The information or data collected through exploratory research helps formulate the research question.In essence, the â€Å"research question is the hypothesis that best states the objective of the researcher or the questions that focuses the researcher’s attention† (Cooper & Schnidler, 2011, p 83, paragraph 1). Hypotheses and Variables â€Å"A hypothesis is a relational statement describing a relationship between two or more variables† (Cooper & Schindler, 2011, p 83, paragraph 1). These variables are designed to show a correlation to each other. The hypotheses are: Bank of America is facing angry loyal customers with the new five dollar charge whenever they use a debit card.Customers may find a new financial institution if the fee is added to their account. Based on the defined hypotheses, variables, and research question, the bank can prepare a research design strategy. Research Design Strategy Before Bank of America finalizes its decision to streamline debit card transaction fees from merchants to customers; it should gauge the attitude s and behaviors of its account holders. Therefore, the research design must be attitudinal research.Attitudinal research uses multiple measurements of attitude across time and environments to improve predictions. The attitudes of consumers must consider as â€Å"hypothetical constructs because of their complexity and the fact that they are inferred from the measurement data, not actually observed† (Cooper & Schindler, 2011, p 292, paragraph 6). These attitudes will be assessed on a ranking scale that captures indicators of different dimension of awareness, feelings, or behavioral intentions toward Bank of America.This ranking scale is ideal because it â€Å"constrains the study participant to making comparisons and determining order among two or more indicants or objects† (Cooper & Schindler, 2011, p 295, paragraph 2). In the end, Bank managers will need to gauge whether existing customers have a positive attitude toward the bank; whether or not they will develop negat ive attitudes toward the bank if they implement fee changes, and if the creation of negative attitudes will change customer behavior.Instrument Development Bank of America can resolve management dilemmas by listening to customers. Therefore, customer feedback can be gathered through surveys. By taking surveys, Bank of America will be able to determine the next course of action. Any other type of research tool is not necessary in this particular situation as the survey will provide the information necessary to make a decision. Figure 1 is a sample of the customer survey data collection design. Bank of America Customer Survey|How satisfied are they with the existing debit card services at Bank of America| * Very Satisfied| * Satisfied| * Somewhat Satisfied| * Not Satisfied| How likely are they to become dissatisfied with Bank of America if imposed a $5 flat monthly debit card transaction fee| * Very dissatisfied| * Dissatisfied| * Somewhat dissatisfied| * Not dissatisfied| How likely are the customers use another banking institution if Bank of America imposed a $5 flat monthly debit card transaction fee| * Very likely| * Likely| * Somewhat likely| * Unlikely| Figure One.Surveying Bank of America customers to discover a linkage between attitude and behavior. | Ethics and Sampling To ensure the results of the research are ethical and valid a proper sample design is necessary. A sample design consists of methods, sample frame, and sample size. The convenience sampling method will be most appropriate for Bank of America’s research as it will save time and money. The goal of the sample is to find what is most important to customers and if they would be willing to pay increased fees.Bank of America will have access to every one of their customers by way of banking or ATMs. Surveys can be assigned to ATMs, or handed out at Bank of America locations as customers arrive for their day-to-day banking needs. These samplings will be random. Probability sampling, based on random selection, ensures each population element is a known nonzero chance of selection. This provides estimations of precision and offers an opportunity for generalized findings to the population of interest from the sample population. Thus Bank of America can both conveniently and randomly survey customers.In addition to improving the validity of the sample, convenient randomized sampling promotes good ethical research practices. Finally, the convenience sample method eliminates the need to hire out the survey work or develop research teams. What sampling frame will be used Bank of America’s customer listing will act as the sample frame. This list shows the customers who have been banking with them both past and present. This will give the sampling method a larger pool to gather information to complete the research needed. What is the appropriate sampling size? The appropriate sampling size is achieved by many factors.These factors are the size of the study, population size, the purpose of the study, and the risk of selecting a wrong sample design. The size of the sample must be in a certain criteria such as precision level, confidence level, and the variability degree. In the case of sampling the attitudes of Bank of America customers and their decision to withdraw their accounts from the bank or not can be accomplished by sampling several states across the country. Determining the sample size is very important, it may vary from one to another. In work environment knowing about the sample size before start taking random samples help a lot.To determine the sample size these are the five steps that used in research. Data analysis approach After the data is gathered from the survey, the fourth stage of the research process is put together. The data analysis approach for Bank of America will use a Pareto diagram that is a chart whose percentages sum to 100%. â€Å"The data are derived from a multiple choice, single-response scale†¦the responde nts answers are sorted in decreasing importance, with bar height in descending order from left to right† (Cooper & Schindler, 2011, p 440, paragraph 2). Result ReportingThe result reporting part of the research should be where all the information that everyone is reading in the reports that will better understand the issues and be able to fix all the wrong issues. Reports should be in certain format and shows every bit of research done on the bank. The information should be sent to the head person who takes care of all the paperwork to be analyzed. This report should contain an introduction, about the research, the hypothesis, surveys, and the kind of issues or improvements to improve the bank, and the conclusion on all the information that was gathered from the report.The report can be written in thousands ways. The report could be displayed through a PowerPoint presentation or a well presented paper, hand wrote on note cards. Many varied objects can make this easy for them t o review the results to the report. Conclusion Even with the charge that Bank of America will be charging people to use their debit card there will be a large disagreement on whether or not customers will be happy with the business they will receiving from Bank of America.With surveys and interviews to see what the customers think will give the bank something to look at before going through with the entire process. To ensure that the bank will not lose money or customers, they must conduct extensive research to assess the consequences. References Chang, H. (2011, October 1). Bank of America to charge $5 monthly debit card fee. NBC San Diego Online Newspaper. Retrieved October 15, 2011, from http://www. nbcsandiego. com/news/local/Bank-of-America-Charge-Monthly-Debit-Card-Usage-Fee-130803293. html? source=Facebook Cooper, D. & Schindler, P. (2011). Business research methods (11th ed. ). New York, NY: McGraw-Hill/Irwin Huff post business. (2011, September 29). Bank of America plans to charge monthly $5 debit card fee. Huffington Post Online Newspaper. Retrieved October 15, 2011, from http://www. huffingtonpost. com/2011/09/29/bank-of-america-debit-card-fee_n_987304. html? view=screen Richardson, C. (2011, September 30). Debit card fees: Why Bank of America will charge $5 for debit card use? Christian Science Monitor. p. N. PAG.

The Return: Nightfall Chapter 37

As she fell, it all rushed through her mind. The first time she had seen Stefan†¦she had been a different person then. Ice-cold outside, manic inside – or was it the other way around? Still numb from the death of her parents so long ago. Jaded by the world and by anything to do with boys†¦A princess in an icy tower†¦with a lust only for conquest, for power†¦until she'd seenhim . Believe. Then the world of the vampires†¦and Damon. And all the wicked wildness she'd found inside herself, all the passion. Stefan was her lynchpin, but Damon was the fiery breath beneath her wings. However far she went, Damon seemed to lure her on just a little farther. And she knew that one day it would be too far†¦for both of them. But for now, all she had to do was simple. Believe. And Meredith, and Bonnie, and Matt. She had changed relations with them, oh, most definitely. At first, not knowing what she had done to deserve friends like these three, she hadn't even bothered to treat them as they deserved. Yet they had all stuck by her. And now shedid know how to appreciate them – knew that if it came to that, she would die for them. Below, Bonnie's eyes had followed her dive. The audience on the widow's walk looked, too, but it was Bonnie's face that she stared into: Bonnie startled and terrified and disbelieving and about to scream and realizing at the same time that no screaming would save Elena from a headlong dive to her death. Bonnie, believe in me. I'll save you. I remember how to fly.

Clean Edge Razor: Splitting Hairs in Product Positioning

Clean Edge Razor: Splitting Hairs in Product Positioning Name: Yuanxu He (Jason) Semester: Fall, 2012 Course Number: MBA 812A Date of paper: September 25th, 2012 Executive Summary The Clean Edge which is Paramount’s newest nondisposable razor has powerful influence in the market since 2010. It was improved design and used the new skills to make the razor’s properties become better than before. Lots of men like it and consider it was the closest, cleanest and smoothest. The article analysis the Paramount’s situation, competition, product positioning, marketing strategy through the U. S. azor market, market segments and consumer behavior and the trends of nondisposable razors and refill cartridges. After the company overview, the analysis of competition, design and testing and compare the marketing budget, Randall think that the Clean Edge has the significant mainstream potential and will become the new standard in men’s shaving. 1. Non-disposable razor category has changed a lot these years. The article pointed that nondisposable razors experienced approximately 5% growth per year from 2007 to 2010. Numerous innovations and product in the super-premium segment has grown a lot.The expenses of advertising increased a lot because of the need to promote new benefits from advances in razor technologies. Changes in retail channel distribution have also been noted in the category. Male-specific grooming products seemed to be a bright spot in the industry from 2007 to 2010 and the segment saw much more growth because shaving became more than just shaving – it started to include body spray, fragranced shower gel and skincare lines proliferated. Channel distribution for the razor category has become increasingly important through the Exhibit 4. It has been quite demand for male-grooming products.Competitive Position: Paramount has been a global consumer products giant with over $13 billion in worldwide sales an d $7 billion in gross profits for 2009 since it entered the nondisposable razor market in 1962. Paramount established itself as unit-volume market-leader in 2009 based on nondisposable razor sales. The nondisposable razor category market is entering a new phase with technology products and new competitors entering the market, it’s a threat to Paramount. Strategic Life Cycle Challenges: Consumers are becoming more experienced and always looking for new technologies.Namely, they want to spend more money and buy products which are satisfy the necessity of a smooth shaving experience. In other words, through the Exhibit 1, there is a category of consumers called â€Å"Maintenance users† that made up 33% of consumers; they were not interested in buying products with superior technology. These consumers cannot be ignored. So, to the challenges, it should provide a product with good cost x benefit but with a short life cycle for the 33% called â€Å"Maintenance users† keeping these users buying their products and interested in their brands. And then, launch the Clean Edge product with a longer life cycle. Meanwhile, making this product profitable creating a high quality from the consumer when they buy cartridges for refill.2. The nondisposable razor market is segmented to three parts base on price and quality which are: value, moderate and super-premium. From 2009, consumers purchased razors and replacement cartridges more frequently and they were distinct to â€Å"Maintenance Shavers†, â€Å"Social/Emotional† and Aesthetic†. The â€Å"Maintenance Shavers† who almost not interested in the product category. The â€Å"Social/Emotional† shavers were motivated by the overall shaving experience and â€Å"Aesthetic† shavers were interested in cosmetic results.3. Niche| Mainstream| Pros| Cons| Pros| Cons| Increase profits and market share| Increased marketing budget costs to launch the new product and provide inc entives to â€Å"Maintenance users†| Increase profits| Potentially could result in elimination of Paramount Pro| Existing products can be retained and used to target â€Å"Maintenance users†| | Increase market share| Paramount will not be focusing â€Å"Maintenance  users† with new product line| Branding strategy can be arefully planned and deployed for maximum success| | Help prevent loyal Paramount customers form being wooed away to more innovative brands| Opportunity to utilize existing products and gain increased sales| Through the pros and cons, I will recommend the Clean Edge for a niche strategy. Because Rosenberg said that they will siphon off consumers if he considered a mainstream positioning strategy. A niche strategy will make more sense.4. | Niche| Mainstream| Planned capacity Razor (Year 1)| 1. 0| 3. 3| (Year 2)| 1. 5| 4. 0| Razor: Production per unit cost| $ 5. 00| $ 4. 74| Razor: Manufacturer price| $ 9. 09| $ 7. 83| Razor: Suggested price| $ 1 2. 99| $ 11. 19| Revenue (Year 1)| 9. 09| 25. 84| (Year 2)| 13. 64| 31. 32| Production Costs (Year 1)| 5| 15. 64| (Year 2)| 7. 5| 18. 96| | Planned capacity Cartridge (Year 1)| 4. 0| 9. 9| (Year 2)| 10. 0| 21. 9| Average Production unit cost| $ 2. 43| $ 2. 24|Manufacturer price| $ 7. 35| $ 6. 22| Suggested price| $ 10. 50| $ 8. 89| Revenue (Year 1)| 29. 4| 61. 58| (Year 2)| 73. 5| 136. 22| Production Costs (Year 1)| 9. 72| 22. 18| (Year 2)| 24. 3| 49. 06| | Capacity costs (Year 1)| $ 0. 61| $ 1. 71| (Year 2)| $ 0. 87| $ 2. 45| Advertising (Year 1)| $ 7| $ 19| (Year 2)| $ 7| $ 17| Consumer (Year 1)| $ 6| $ 17| (Year 2)| $ 6| $ 14| Trade promotions (Year 1)| $ 2| $ 6| Year 2)| $ 3| $ 8| Subtotal of Other Costs (Year 1)| 15. 61| 43. 71| (Year 2)| 16. 87| 41. 45| Total Costs (Year 1)| 30. 33| 81. 53| (Year 2)| 48. 67| 109. 47| Trough the chat above which compares the revenues and costs, it’s easily to find out the Niche is the better one. About the marketing budget, through the c omparing, the advertising and promotion of Clean Edge Razor is $15m and $ 16m, and we can reduce the budget for existing products of advertising.Because the consumers become more sophisticated and the research shows that these will be the mature phrase of the product life cycle in the future. I consider that if it launch the product to the Niche market, it will bring a huge profit to Paramount. So, I want to make the brand name called The Clean Edge Razor by Paramount.ConclusionBy the time, consumers really purchased razors and replacement cartridges more frequently than they than in any year previously. It’s no doubt that the Clean Edge has huge potential in the super-premium segment.It should keep developing by the Niche strategy and this will bring the biggest benefits and profit to the company and beat the other competitors.Work Cited S. E. Smith, â€Å"One Tool, Many Uses: Single Edge Razor†, (Aug 02, 2012), http://www. networx. com/article/one-tool-many-uses-sing le-edge-razorJeremy Pingul, â€Å"Paramount Health & Beauty: The Clean Edge Razor†, (2012, January), http://prezi. com/pjd6evuzfndc/paramount-health-beauty-the-clean-edge-razor/

Creative Essay Example | Topics and Well Written Essays - 250 words

Creative - Essay Example The python represents the rich, the sheep represents the poor while the herder symbolizes the society in general. The artwork, which is widely symbolic, shows that the current society is dominated by the rich who use all means to oppress and control the poor. This is proven by the modern capitalism that supports the wealthy to become richer but fails to offer a solution to the poor whose standards of living keeps on deteriorating. The inaction by the society towards the ever increasing atrocities against the poor is represented by the herder who watches the python swallowing the sheep, but he fails to take any action although it is a his responsibility to save the sheep. For many years, the society has been silent about the increasing levels of poverty which has resulted in social, economic and political problems facing the modern world. The aim of this work, which is highly symbolic, is to stir critical thinking in the society about the need to have an equitable society. The audience is the general society who plays an active role in policy making by electing responsible representatives to articulate their interests and the policy makers who are responsible for making laws and developing policies that affect the lives of

Computer Essay Example | Topics and Well Written Essays - 1250 words

Computer - Essay Example My goal while writing this essay was to convince the readers that modern life cannot be imagined without computer in it. We have become so much dependent on computer now that we can no longer imagine living a comfortable life without it. Today, people feel happy because their time and energy is saved in finding happiness, as computer has brought happiness and leisure at their doorstep. Hence, it is impossible to delete the usage of computer from our lives because it has affected our freedom and happiness in the most unbelievable way ever possible. This message is what I want my readers to take away with them. I had a wonderful experience while writing this anecdote-cum-essay, as this helped widen up my horizon regarding how much I depend on this wonderful invention of man. I am very happy to depend on it. How Computer Makes Life Easier It was May 1, 2000. I was at my house located in North California. I was sitting with my friends doing combined study. Papers were scattered all aroun d us. We had put down notes on those papers, and had made several copies of those notes by hand. However, they were all messed up. We were stressed out collecting them and stapling them together because the next day was our examination, and we had not even started studying yet. The big mess of papers was all confusing. That was the time we did not use computer to make and save notes, and so, we could not make sophisticated copies with some changes, in just one click. We all decided to get our hands on a computer as soon as our exam finished. So, all of us collected money and bought one, which we kept at my house. After that, one of us would make notes on Microsoft Word, and all the others would copy/paste the content with some changes. So, we were able to make multiple copies of one document in just one click, by attaching a printer to our computer. We were no more confused about manual copying of notes, and our rooms were no more a mess. We had gotten rid of the manual work, and th at saved much of our time and energy. We were able to organize our documents neatly in computer. We installed an encyclopedia and a dictionary, and it was so handy for us not to take care of books and notebooks anymore. For entertainment purposes, we installed some games. We also saved many of our photographs in a folder, and we would look at them whenever we missed the old days. We no longer cared about saving pictures manually in albums, because we had saved them in our computer. Every friend had a copy of them. Our new computer was really a great blessing for us. We also suggested the use of computer to our educators; and since then, they have also been trying to modify the instructional process with the help of computer. We made them realize the necessity of incorporating computer technology in teaching language; and so, they started organizing computer based instructional schemes in such a way that all students with their unique calibers were equally attended to. To sum up, com puter made our lives easier and comfortable as it brought with it a lot of resources which we could efficiently use to enhance our learning and get better informed about the world around us. So, if used for informative purposes, computer can help us make progress by leaps and bounds in today’s information society. It solely depends on the user whether he wants to benefit in

Announced Firm Negotiation Position Essay Example | Topics and Well Written Essays - 500 words

Announced Firm Negotiation Position - Essay Example Sometimes, including the product price or service fee in the company portfolio listing may not be advantageous at all. In this case, the company’s weak side may be exposed to the buyer and may give a certain impression that may actually affect the buyer’s interest to the deal. To avoid such, both the buyer and the seller should research well not only on the current market but the social factors which affect the negotiation process. For the seller, it is important to know the type of buyers to be able to adjust strategies during the negotiation process before announcing any negotiation position. More often than not, negotiation can actually be flexible for both parties. Metz reported that â€Å"the seller can bend to the time constraints and resource limitations of a particular buyer.† There are a handful of reasons a buyer would be highly interested to the offered deal. It can be his desire to the product’s innovative technology, or his interest in the company’s market position, or his confidence to the seller’s customer base. Negotiation can be absolutely strategic if there is a diversity of buyers that range from a number of large firms to a few small buyers. The seller’s problem lies in the situation where there is only one or no buyer. This case may be used by the buyer to his advantage if he is the only buyer in the negotiation. During the negotiation process, defining your official standpoint or stance is of prime importance important before finally entering the process itself. This negotiation position, regardless you are the seller or the buyer, should be strongly defended by the negotiator during the negotiation process. Practically, the main reason why many people can’t find a good agreement is that each has taken of his own announced position. Your negotiation position is determined by the interests in the

US Army history Essay Example | Topics and Well Written Essays - 1000 words

US Army history - Essay Example Today, four of America's five military branches are under the Department of Defense: United Sates Army, Marine Corps, Navy, Air forces. The combined United States armed forces consist of 1.4 ml active duty personal along with several hundred thousand each in the Reserve. The United States Armed Forces are considered to be the most powerful millitery around the world (Luttwak, Koehl, 1998). Historians suppose that from its first stand at Lexington, the Army has always had a non-negotiable contract with the American people to fight and win the nation's wars. Now, over 400 years since the first colonial militia was formed in St. Augustine, Florida, in 1565, the spirit and essence of the United States Army is celebrated for the first time. In retrospect, 1775 decision of the Continental Congress to create the Continental Army seems remarkably free from political strife. Delegates of all shades of opinion supported each step, and arguments largely concerned technical details. In 1794 Congress established the Office of the Purveyor of Public Supplies in the Treasury and the Office of Superintendent of Military Stores in the War Department to continue the same broad supply functions established in the Confederation period. This organization of military supply remained in effect with only slight modification until 1812.Training and discipline were the key to an effective militia. It should be mentioned that the President first exercised his authority to employ militia for suppressing insurrection and executing the laws of Congress in 1794 when Washington sent a large force of militia under Maj. The conduct of the war in 1812 revealed deficiencies in the administration of the War Department that would plague the American cause to the end. Lack of transportation was a major problem of the Army. By the end of 1848 the Army had reverted to a peacetime strength somewhat smaller than the 10,000 authorized in 1815 (Luttwak, Koehl, 1998). Congress in June 1850 approved "enlarging the companies serving on the frontier to 74 privates, a considerable increase over the 50 in the dragoons, 64 in the mounted rifles, and 42 in the artillery and infantry authorized at the end of 1848" (Millett, Maslowski, 1984). The new infantry units were armed with percussion-cap, muzzle-loading rifle muskets instead of smoothbore muskets. Nineteenth century technological developments had made possible an accurate, dependable muzzle-loading rifle with at least as fast a rate of fire as the smoothbore musket. At the U.S. Military Academy during this period, such great names as Robert E. Lee and Dennis Mahan (author of many works on engineering and fortification) appeared on the roster of staff and faculty (Millett, Maslowski, 1984). During the middle of the XIXth century the severe forms of corporal punishment were abolished in the U.S. Army. Still, Civil War medical science was primitive in comparison with that of the mid-twentieth century, an effort was made to extend medical services in the Army beyond the mere treatment of battle wounds. As an auxiliary to the regular medical service, the volunteer U.S. Sanitary Commission fitted out hospital ships and hospital units, provided male and, for the first time in the U.S. Army, female nurses, and furnished clothing and fancier foods than the regular rations (Conn, 1980). The industrial age, made a significant influence on military strategy, tactics, and organization. During 1907-1912 the U.S. Navy's

Principle of Management Essay Example | Topics and Well Written Essays - 3500 words

Principle of Management - Essay Example At the same time, international consolidation and aggressive pricing approaches have concerted the market dominance within certain major players and reinforced their control on the suppliers. The international sourcing of raw materials has created new business prospects for supermarkets such as Tesco to carry out import activities from locations with cheap labour and cheap resources. In fact, Tesco presently captures a major share of supermarket in the UK. In last decade, the opportunity for supermarkets to purchase from manufacturers had increased intensely (Brown & Sander, 2007). Tariff declines, trade liberalisations, modernisations in communication technology, enhanced transport system and better capital flexibility have transformed the supply chain system for supermarkets. The international sourcing has generated new prospects for Tesco in the developing nations to sell the products. However, the global sourcing has also created numerous manufacturers, which in turn has intensif ied competition among organisations. The challenges faced by supermarkets nowadays include the aspects of increasing the return of the shareholders, maintaining low cost for product offerings, increasing flexibility by ‘just-in-time’ delivery and strengthening control related to product quality and providing utmost customer service standards (Brown & Sander, 2007). Supermarkets are the first and the foremost commercial organisations that perform in highly competitive environment with high concern on end result. The increased globalisation, changing life patterns and demographics have opened opportunities for supermarkets in developing nations. However, in order to stay competitive in the market, supermarkets require significant information on... This paper describes the four functions of the management are considered to be substantial for Tesco to overcome many challenges and to take the advantages of the opportunities. In order to be successful in the future endeavours of the business, Tesco can use the managerial functions to a great extent and can turn the business to be effective and efficient. Better management is helpful for Tesco to develop an environment which can provide enhanced flexibility in business. In order to stay competitive, systematising the business plays a vital part for organisations which can only be accomplished though effective managerial functions as observed in the discussion provided. This essay tells that the four managerial functions can be adopted by Tesco in several aspects of business which would provide great effectiveness in the international market. The managerial functions are beneficial for Tesco to gain competitive advantages and to exploit the business opportunities. Better management will definitely lead to gain cost efficiency and make the company feasible to compete with upcoming difficulties in the global as well as the local markets. It concluded that Tesco has also adopted enhanced planning procedures in the business for increasing the customer service. It is one of the significant challenges for Tesco to provide personalised services to the customers. Through collaborative planning, Tesco has enhanced its supply chain capabilities for making better anticipation of the demands of the customers and providing customised services to them accordingly. Therefore, it can genuinely lead to better customer satisfaction

- People and Organisations Case Study 2012-2013 Essay

- People and Organisations Case Study 2012-2013 - Essay Example With respect to the given case in point, that of Microsoft before and after the fateful year of 2006, there are a number of points that this analysis will seek to make as a means of better informing the reader as to why such a shift in outcomes were noticed within this specific year (Dodds 2011, p. 33). Whereas group work and the performance review process had previously helped to elevate the level of overall output, profitability, and performance, the firm seemed to reach a type of critical mass in which the given formula of success that had set the firm on such a path of growth and rapid development seemed to fall apart. However, it is obvious from a study of business management theory that it is not possible for a given approach to merely stop working (Hult 2012, p. 5). Instead, one must assume that key personnel factors, dynamics of business, culture, or other factors have affected the ability of the previous system to continue to promote the high level and degree of success that the firm had formerly experienced. ... As a result of the high level of emphasis on groups and the way that the performance reviews ranked these groups and their individual members, a type of opportunism developed. This opportunism is a trait that can be linked to both management theory as well as human psychology; however, for the purposes of this brief analysis, the author will focus upon the level and extent to which the emphasis on group formation, recognition, and personal performance sought to develop a type of self-interested dynamic that quickly gave way to something of an extent culture within the Microsoft organization (Maddox 2005, p. 3). The fact of the matter was that the group dynamics that had given rise to such a high level of success within the organization were the very same dynamics that eventually would prove to be a net negative. It is a well known fact that a company’s culture is not something that is developed and implemented overnight (Muller et al 1999, p. 90). Rather, it takes many years, and the actions of management to solidify. In this way, the reader can quickly infer the that the true nature of the issues associated with Microsoft, as indicated by the case study which was reviewed in writing this brief response, stem not from the fact that the individual management or organizational style which was employed was fundamentally wrong; rather, the key errors only developed many years later as a function of the negative cultural developments associated with opportunism, selfishness, and the gradual shift from operating as a true group should and seeking only to maximize a sense of personal gain from each and every situation that the members of

Combine Analysis of a Rose for Emily Essay Example | Topics and Well Written Essays - 1000 words

Combine Analysis of a Rose for Emily - Essay Example Similarly Faulkner also incorporates this theme in order to depict the bitter reality of human beings who are on their way to destruction as the writer believes that human existence is now devoid of emotions and feeling where man is living a mechanical existence and waiting for the ultimate escape i.e. death as it is also observed that the story commences with the funeral of Emily and ends with the death of Homer. Moreover this can also be deduced from the description of Emily in the story as it describes Emily as a living dead creature i.e. although she is alive yet she is hollow or empty on the inside hence she is almost dead. As it is also stated in the text, â€Å"She looked bloated, like a body long submerged in motionless water, and of that pallid hue. Her eyes, lost in the fatty ridges of her face, looked like two small pieces of coal pressed into a lump of dough† (Faulkner 14). Theme of death also stresses on the reality of life that this world is a temporary place and ultimately everything is going to collapse and meet its end. The theme of isolation in this prose is indirectly linked with theme of death and decay as Harold Bloom also says, â€Å"Emily is isolated from the community. Her isolation is so thorough that she does not or can not have a suitor from Jefferson†¦ her isolation eventually grows to resemble a living dead in which her closest companion is a corpse† (90). This theme also depicts the irony of human existence i.e. although an individual is surrounded by people yet he is alone. As it is inferred from Emily’s situation who has lived all her life in Jefferson yet the people of that community are strangers for her. Even her cousins are not a source of comfort and support. Hence it shows that every individual in this world is living a selfish and isolated existence. Love is defined as an intense emotion that leads an individual to behave irrationally as it blinds him to all logic and reasoning. A similar case is observed in A Rose for Emily because her actions of keeping the dead body of Homer can be interpreted as an act of desperation on Emily’s part and also reveals her insecurities about being left alone. Hence she finds solace in keeping Homer’s dead body and sleeping with his corpse. Bloom also believes that, â€Å"while it may be an unconventional one â€Å"A Rose for Emily† is a love story. The revelation that Emily has slept beside Homer Barron’s corpse for 40 years let us know that his killing was motivated more by love than some other reason such as pride or revenge† (90). 2. Symbolism Faulkner’s use of symbolism acts as a tool of foreshadowing and helps in the development of the plot. Initially the ‘Rose’ in the title suggests love as it is a cliche that a rose is a symbol of love and affection. However it is later revealed to the readers that the rose is either the symbolic representation of Emily’s irrational love a nd affection for Homer that led her to kill him and keep him with her or Emily’s Father’s love for her daughter that made him believe that no one was good enough for his daughter and hence he decided his daughter was better off alone rather than married. The description of

Why I Want to Become a Teacher Essay Example for Free

Why I Want to Become a Teacher Essay I always wanted to become a teacher. The main reason for this is that I want to do something to help the community, and give back some of the privileges that I enjoyed. Some of these privileges included a great education, and caring teachers. I could see myself accomplishing this task through teaching. New York City needs hard working, caring, and responsible teachers, and I want to become a part of it. I believe that to become a teacher, your heart really needs to be in it and you need to be committed and dedicated. I will constantly think of ways on how to improve things and how to help my students when I become a teacher. I have the motivation, and the potential to become a New York City Teaching Fellow. In this way, I will be influencing the futures of our next generation in a positive way. I have previously worked as an occasional per diem teacher in the year 2002 with the Board of Education of NYC. Actually, it was my first job right after college. I enjoyed my time working there and helping students out, who were in need of help with their math skills. Through this teaching job, I learned a lot of things. Most important was the behavior aspect of children. I completely understand how to motivate students, and how to get them interested in the coursework. Their enthusiasm and motivation is the key to a better future generation. Besides that, I have very strong math skills, which help me make a strong candidate as a teacher. These math skills were visible when I took Calculus 1, and Calculus 2 in senior year of high school. After that, I took statistics and other advanced calculus classes in college. This progress continued through graduate school. Therefore, I believe that my educational math experience and previous experience as a math teacher will help definitely ensure high academic achievement for my students. New York City has many high-need schools located in low income communities. I also come from a low income family. Therefore, I think of it as my duty to come forward and do something for the low income families. I understand the pressure these kids are facing and the daily hassles that they go through. Therefore, it will be a great opportunity for me to work with the children of a high-need school, while understanding their situation completely. In conclusion, I would say that it is my dream to become a teacher and give back to the community that gave everything to me. I have the experience and the right education to make me a perfect candidate for teaching. I know that I will be a part of the next generation even though I am not in it and that makes me excited. I will be able to help shape history by being a teacher by setting these children up for their future. I cannot wait to get into a classroom and impart my enthusiasm to kids. They will learn and I will as well and it will be a great accomplishment for us.

Education in Culture Essay Example for Free

Education in Culture Essay Education in today’s world is far more different from the education it was before. Nowadays, as technologies and industries progress onwards, the need for education becomes more vital. Education is about learning and also teaching skills. As a part of the society, education has played major roles not only on passing culture from one generation to another but also in helping establish a more stable society. Education also denotes on the process of drawing out certain skills or making someone realize the use of some skills that he has on its own. And as the world develops, the entirety of education also has changed. Now, it encompasses different disciplines such as philosophy, psychology, biology, history, sciences, sociology and many others. Education is believed to have started once a person is born and ends until he dies. Each and every person defines education differently from others. Education can be attained even without the presence of proper schooling. It is the experience and the applications of the things learned that counts on what one has attained. Different cultures in the world have a different point of view on the idea of education. Their definition and ideas about education is highly embarked on the way they spend their everyday lives, how they eat their food, how they please their gods or how they rear their young. Basically, perspectives about education and how learning is done in a particular place is based on their culture. The United States is one of the countries that belong to the Western culture. Its culture started even before it became a country. Now, as the world progresses and along with the different factors of culture combination and transfer, the United States is one of the diverse and multi cultural nations. Due to the strong British ties that have happened in the past, the United States’ culture is greatly influenced by the British culture. Other influences also include European countries who once take part in the history of the US such as Poland, Italy, Germany, Ireland and the Natives of America. Due to rampant migration and trade during the past, the western part of Africa has also played important roles in the structure of culture of the United States today. As one of the leading countries in the world today, the culture of the United States requires education as one of the needs of its each and every citizen. In its education system, children ranging from the ages five to six are necessitated to attend school. At the age of five most children starts schooling in kindergarten, then, they attend elementary from ages six to eleven, middle school from eleven to fourteen then high school from fourteen to eighteen. There are two forms of education in the States: public and private. Public education in the United States is funded by the federal government and by each of the individual states. These funds came mainly from the taxes in the city of the states and not as education fund given by the federal government. On the other hand, private education in the United States receives little or no government support at all. And since most of the private schools are governed by religious organizations, these private institutions are disqualified from direct government support. Students who have graduated from the secondary level may still pursue education in universities. There are different Universities in the States. Some are funded both by the local and federal government and some are governed by private institutions. Due to the status of the United States in the world today, it is one of the countries in the world with the most advanced and most extensive educational systems and procedures. Education as a primary requirement in the States is offered in all levels: from the children to the youth and even to the adults. Aside from learning as its main propose, education in the States seeks to promote wisdom, democracy, nationalism, equality and development not only of the state and the country but also the self. References: Greenberg, I. (2007). Vocational education, Work Culture and the Children of Immigrants in 1930’s Bridgeprort. Journal of Social History. Volume 41. No. 1. Reed. T. V. (2007). Popular Culture: Resources for Critical Analysis, Retrieved, November 23, 2005, from http://www. wsu. edu/~amerstu/pop/. USA Study Guide. (2007). American Culture: US Culture Info. Retrieved, November 23, 2007, from http://www. usastudyguide. com/americanculture. htm.

Critically Evaluate Doyles Definition Marketing Essay

Critically Evaluate Doyles Definition Marketing Essay Most academics and marketing practioners consider that there are two basic approaches to marketing which are often categorised as being traditional or relationship based. The traditional approach to marketing has the acquisition of new customers as its central tenet. Indeed, Peter Drucker (1964, p. 91) suggested that a business only existed to create a customer. However, organisations have increasingly begun to recognise that customer retention is as important, if not more so, than customer acquisition. The driving force behind this change in thinking has been the ever increasing cost of acquiring new customers (Holmlund and Koch, 1996). Therefore, in contrast to traditional marketing, the basic premise of relationship marketing is the development of customer relationships with a view to cost reduction within the organisation and increased shareholder value through the creation of high levels of customer satisfaction (Perrien and Ricard, 1995). Indeed, many relationship marketing the orists summarise the difference between relationship marketing and traditional marketing as the creation of customer satisfaction rather than the creation of a customer (Perrien and Ricard, 1995). In terms of the competitive advantage dimension of Doyles definition, Porters Generic Strategies model (1980, p. 39 see Appendix I) suggests that the traditional approach to marketing relies heavily on a strategy of cost leadership and price competiveness. In contrast, relationship marketing focuses on differentiation, in terms of product and/or brand attributes, as a source of sustainable competitive advantage. It can be seen, therefore, that Doyles definition of marketing is closely allied to the relationship marketing school of thinking. However, Doyles definition does not take account of the fact that the implementation of a relationship based approach to marketing alone does not necessarily guarantee that an organisation will achieve a sustainable competitive advantage, or, therefore, a subsequent maximisation of shareholder returns. To have the potential for this, a relationship marketing programme must include attractive and relevant value propositions for customers, which should differentiate an organisations brand and/or products from those of its competitors. In addition, these differentiated value propositions should not be easy for competitors to imitate (Barney, 1991). It is critical, therefore, that an organisation establishes exactly what value its customers are seeking in order for it to be able to design and deliver the appropriate value-enhancing benefits that will facilita te the building of meaningful long-term, and mutually beneficial, customer relationships (Christopher et al, 2002, p. 22). Doyles definition refers only to valued customers suggesting that they are a homogenous group. However, not all customers are alike and Newell (2003, p. 17) articulates this when he states that Customers dont want to be treated equally. They want to be treated individually. Therefore, not only does successful relationship marketing rely on the creation of customer value propositions but also on the process of segmenting and targeting the most appropriate customers and then tailoring and positioning value propositions to appeal to the various, identified consumer segments. Furthermore, the segmentation of consumers by psychographic and behavioural attributes enables an organisation to understand the different motivational factors that influence those consumers in their purchasing behaviour towards specific brands or products, thus facilitating a more individual approach to customers. In addition, segmentation by this method provides an organisation with an insight into the specific va lue benefits that its customers, and potential customers, are seeking when they make a purchase. This, in turn, assists in the creation of desirable and differentiated brands and/or products, and enables their effective positioning for the identified segments (Dibb et al., 1997). The segmentation, targeting, and positioning process is summarised in Appendix II. Doyles definition of marketing specifically identifies developing relationships with valued customers as a means of creating a competitive advantage. However, the definition makes no reference to any other stakeholder groups that an organisation may have, and will certainly need to interact with, if it is to build and sustain a competitive advantage. The six markets stakeholder model indentifies the key stakeholder groups that require attention from any organisation that adopts a comprehensive relationship marketing approach to the achievement of its business growth and profitability objectives (Christopher et al., 2002, p. 76 see Appendix III) Whilst this model is certainly customer centric, it recognises different stakeholder groups as having the potential to engage in active relationships with the organisation and., therefore, be considered for inclusion within its marketing strategy. It is necessary for organisations to effectively manage relationships with all of these groups e specially as they have an interrelationship with each other. For example, shareholders in an organisation are members of the Influencer Markets, but may also be part of the Referral Markets and the Customer Markets. Finally, and perhaps most importantly, in terms of support for Doyles definition, research has shown that there is a direct link between the adoption of a successful relationship marketing strategy and profit (Bhote, 1996). None of this is to say, however, that traditional marketing does not have a role to play in the modern-day commercial environment. There is no doubt that many consumers have a short-term outlook, in terms of their purchasing behaviour, and are not necessarily loyal to particular brands. Indeed, such consumers may buy particular brands out of habit or they may actively search for brands regardless of whether or not they are being targeted by relationship marketing programmes (Kotler and Armstrong, 2011, p. 150). In this sense, Doyles definition does not recognise the concept or value of traditional marketing. However, the many exponents of the traditional approach to marketing regard it as a distinct and dedicated management function within an organisation that is responsible for creating transactions with certain groups of customers that satisfy their immediate needs and wants whilst, at the same time, meeting the marketing objectives set by the organisation (Grà ¶nroos, 2006). Organisations that deploy traditional marketing methods tend to view the marketing function as being responsible for the so-called four Ps, namely Product, Place (distribution), Price, and Promotion, rather than the management of customer relationships. Research has also shown that, in fact, very few organisations deploy exclusively either traditional marketing or relationship marketing. More often than not there will be a blending of the two marketing disciplines and, in terms of responsibility within an organisation, traditional marketing may be the domain of the marketing department with customer relationship management being a standalone function. In any case, the choice between using one of the two methods, and using both, should always be based on the industry in question and the needs of the customer. (Zinedlin and Philipson, 2007). However, there remains no doubt that many consumers are willing, and able, to form emotional, as well as practical, transaction-based relationships with organisations. This is particularly the case where an organisation has a recognisable brand as consumers are more likely to identify with a brand, and remain loyal to that brand, than they are to an organisation. Loyalty by customers to a brand is known to be a prime factor in the creation of sustainable competitive advantage and, therefore, business growth and profitability (Aggarwal, 2004). It is for these reasons that, according to Kotler and Armstrong (2011, p. 259), of all the assets owned by an organisation, the brand is the perhaps the most enduring and valuable in terms of its ability to generate shareholder wealth. Consequently, although Doyles definition of marketing has been seen to exclude the still relevant dimension of traditional marketing, it can be effectively applied to the creation and management of the marketing s trategy of an organisation. Even so, Doyles definition does not go far enough in its attempts to encompass the practice and value of relationship marketing as it does not specifically refer to the strategically significant role of brands in building sustainable competitive advantage. Consequently, to apply Doyles definition in a practical sense to the creation and management of an organisations marketing strategy, it is first necessary to discuss and evaluate the role that branding and brand reputation plays. As has already been shown, true relationship marketing demands that brands, and their inherent value propositions, are positioned in a differentiated and competitive sense against the various identified consumer segments. This is only the first step in the branding process and it is critical to the building of a sustainable competitive advantage that, over time, an organisation is able to build and sustain its brand reputation. Brand reputation is to do with how customers think and feel about a brand and, in order to develop brand reputation organisations need to have certain building blocks in place to enable customers to feel confident in developing meaningful relationships with the brand (Keller, 2003). These building blocks include brand salience, perfor mance, imagery, and resonance, which all impact on the judgements consumers make about a brand and, ultimately, how they will behave towards it. This process of brand reputation building is summarised in Appendix IV. If the process is followed effectively, then customers will ultimately progress from understanding, and empathising with, the brands value propositions to having a resonance with the brand and being ready to form an emotional relationship with it. To maximise the value of this potential emotional relationship, organisations have to take advantage of every available opportunity to ensure that engagement between their brand and their customers is positive. These engagements can comprise a number of so called customer touchpoints, such as direct marketing, helplines, advertising, and social media. Every time that a customer engages with a brand through a touchpoint that customers views and opinions about the brand are formulated and, ultimately, this will influence attitudes and behaviour towards the brand. Indeed, Doyle himself (1998) suggested that, by maximising the positive and integrated nature of customer engagements with their brands, organisations could enhance their overall bra nd reputations. Consumers who form emotional relationships with brands can actually become so enthusiastic about these relationships that they develop a loyalty to the brand and may even progress as far as becoming so called brand advocates, recommending the brand to friends, family, and members of their peer and reference groups (Aggarwal, 2004). If the organisation carefully nurtures these loyal customers and brand advocates, then they can become immensely valuable, in terms of future shareholder returns, and groups of them may even form themselves into brand communities on social networking sites, such as Facebook, where their influence over other customers and potential customers will be even greater. In summary and conclusion, it can be seen that the successful management of an organisations customer relationships can lead to customer loyalty and advocacy and is a key factor in an organisations ability to establish and maintain its competitive advantage, which, in itself, is a prerequisite for growth and profitability in todays globalised and highly competitive marketplace. Although Doyles definition recognises the increasingly significant role of customer relationship management within the marketing discipline, it fails to take account of the other key stakeholder groups that interact within an organisation, and with each other. Equally, certain strategically important aspects of a comprehensive relationship marketing strategy that will maximise competitive advantage and, in turn, shareholder returns, are not referred to in Doyles definition. These shortcomings include a lack of recognition of the value and role of brands in the marketing process as well as the significance of s egmentation, targeting, and positioning. In addition, Doyles definition totally excludes any reference to the important role that traditional marketing is still able to play within a successful marketing strategy Even so, although Doyles definition does fall short in certain areas, it is still a solid foundation for the framing of an organisations marketing strategy. This is because modern-day organisations have to understand that, in order to deliver the returns that their shareholders demand, a significant element of marketing practice has to be focussed on the building of long-term, mutually beneficial relationships with customers rather than on new customer acquisition. This is especially true as consumers not only have an increasingly heightened awareness of brands but also take more account of a brands reputation when making a purchasing decision. Equally, consumers are more willing to express their brand awareness by either defection from, or loyalty to, particular brands. Organisations can encourage customer loyalty to their brands by developing and communicating, at every available opportunity, consistent, relevant, and powerful brand propositions that are customised to their identif ied market segments. In this way, brands can build competitive advantage through differentiation rather than through the adoption of low pricing policies which impact negatively on profitability and, thereby on shareholder returns. -

Country Risk Assessment on Japanese Imports of Drugs :: Economics Politics

Country Risk Assessment on Japanese Imports of Drugs History Japan, being the world’s most dynamically competitive nation, is facing an ironic balance in trade with the U.S. The Japanese economy relies too heavily on exports, especially to the U.S., causing increasing trade surpluses. They have been in a repetitive cycle for the last 25 years in which the government allows the yen to fall against the dollar to boost exports and restrict domestic growth to dampen imports. The Japanese government has set too many trade restrictions on U.S. imports, trying to compete against and keep out American imports. This all began during the postwar period when Japan imposed heavy import barriers. Virtually all products were subject to government quotas, many faced high tariffs, and the Ministry of International and Trade Industry (MITI) had authority over the allocation of foreign exchange that companies needed to pay for any import. These policies were justified at the time by the weakened position of the Japanese industry and the country’s chronic trade deficits. By the late 1950’s, however, they had regained balance and could not justify their payment system. Despite Japan's rather good record on tariffs and quotas, it continued to be the target of complaints and pressure from its trading partners during the 1980s. These complaints revolved around non-tariff barriers other than quotas, which included standards, testing procedures, government procurement, and other policies that were be used to restrain imports. Import Policies In 1984 the United States government initiated intensive talks with Japan on four product areas: forest products, telecommunications equipment and services, electronics, and pharmaceuticals and medical equipment. The Market Oriented Sector Selective (MOSS) talks were aimed at routing out all overt and informal barriers to imports in these areas. The negotiations lasted throughout 1985 and achieved modest success. Supporting the view that Japanese markets remained difficult to penetrate, statistics showed that the level of manufactured imports in Japan as a share of the gross national product was still far below the level in other developed countries during the 1980s. Frustration with the modest results of the MOSS process and similar factors led to provisions in the United States Trade Act of 1988 aimed at Japan. Under the "Super 301" provision, nations were to be named as unfair trading partners and specific products chosen for negotiation, as appropriate, with retaliation against the exports of these nations should negotiations fail to provide satisfactory results.

The Engineering Service Division of the Federal Government :: Federal Government Engineering Essays

TABLE OF CONTENT INTRODUCTION 2 PROBLEM 2 ANALYSIS OF THE SITUATION 3 Groups and Teams 3 Power and Politics 7 Motivation 12 ALTERNATIVES AND SOLUTIONS TO THE PROBLEM 14 SOLUTION: 16 IMPLEMENTATION PLAN: 17 JUSTIFICATION OF THE SOLUTION 18 Introduction In the Federal government, 14 divisions composed the administrative service division. The engineering service division was a smaller part to a government research laboratory. Their purpose was to design and manufacture equipment needed for experiments. There are four formal teams: the Design and Drafting Branch, Planning and Production Branch manufacturing Service Branch and the Engineering Service Branch. There are 50 people in the design group which was divided into three subgroups: two drafting sections and one checking section. There was a consistent flow between the branches that enabled projects to be completed in an efficient manner. The engineering service division worked competently with no manager for nine months. At this time, Francois Duplessis succeeded Josie Maguire, who previously held the management position. As the corporate consultants we will analyze the company current situation. Problem The recent change in managers within the Engineering Services Division has caused some concern for the success of the company. Francois Duplessis has developed various changes in the workplace. The changes had cause the group to be less cohesive due to poor communication and conflict. Their level of interdependence was altered which made tasks harder to accomplish. Duplessis did not effectively use his power in order for the laboratory to succeed which resulted in organizational politics. The designer and engineers were content with working together to reach their goals in the organization, therefore, being more independent caused their overall motivation to decline. Analysis of the Situation Groups and Teams Within the Engineering Services Division, there were formal teams and communities of practice. A formal team can be described as â€Å"groups of two or more people who interact and influence each other, are mutually accountable for achieving common objectives, and perceive themselves as a social entity within an organization† (McShane 234). While communities of practice are â€Å"informal groups bound together by shared expertise and passion for a particular activity or interest† (McShane 234) The formal teams consisted of the Design and Drafting Branch, the Production and Planning Branch, the Mechanical Shop Branch, and the Electronic Services Branch; all of which were mandated by management.

The Character of Teiresias in Oedipus The King :: Oedipus Rex, Sophocles

Throughout history there have been some astonishing Greek plays. Some plays were more comedic in nature, so were romance plays and then there were some that were tragic plays. One of the greatest Greek tragedy plays ever written was Oedipus the King. Brilliantly conceived and written, Oedipus the King dramatizes the self-discovery and tragic downfall of Oedipus, the King of Thebes. It tells the story about a young Greek who was fated to murder his father, marry his mother, and in the process become the King of Thebes, before ultimately meeting his downfall due to his own deeds. That makes this play so fascinating is that there are numerous underlying themes within the story, and I will attempt to shed light on one of these themes, that being the dramatic irony of blindness. I shall do this by focusing on the words and actions of a minor character in the play, Tiresias. A minor character is a character that is developed in such a way to help reveal themes and depict certain literary devices. Literary devices are used in mostly all literary works, as they can help reveal pertinent information and also move the story along. In the play Oedipus Rex by Sophocles, the minor character of Teiresias is responsible for foreshadowing Oedipus’ fate, developing the theme of blindness, and also illustrating dramatic irony. Teiresias uses his fortune teller abilities to foreshadow the anguish and destruction that Oedipus will encounter after he learns the truths of his life. Teiresias is also responsible for further developing the theme of blindness by using his own physical blindness to reveal to Oedipus his mental blindness. Lastly, Teiresias is ultimately responsible for imposing dramatic irony because of his great knowledge of the truth of Oedipus. In Sophocles’ Oedipus Rex, the character of Teiresias is developed in such a way that he utilizes many dramatic devices in order to reveal information and move the play along.As a fortune teller, Teiresias is able to see the fate and destruction of Oedipus’ life. Teiresias uses his great ability to reveal to the reader the downfalls in Oedipus’ life that will soon occur because of his quest to know his fate. The character of Teiresias demonstrates the use of foreshadowing in order for the reader to be aware of Oedipus’ fate.You can not see the wretchedness of your life, Nor in whose house you live, no, nor with whom.

Honda City Marketing Research

ACKNOWLEDGEMENT The project in its present form and state would not have been possible had it not been for the able guidance and support of Prof. Sandip Anand whom we always looked up to, when faced with any difficulty and have disturbed him at all times and hours. We would also like to thank our seniors and classmates who provided us with references required for collection of data. No research would be successful, without the active involvement of the respondents and we take this opportunity to thank our various respondents for having patiently filled our response sheet. EXECUTIVE SUMMARY BACKGROUND The first automobile was steam powered vehicle invented in 1672. Since the first car rolled out on the streets of Mumbai (then Bombay) in 1898, the Automobile Industry of India has come a long way. During its early stages the auto industry was overlooked by the then Government and the policies were also not favorable. As a result automobiles were not a common sight. However with liberalization policy adopted y the GOI, significant changes have been made. Today, India is one of the largest markets for automobiles in the world. Our research is concerned with the sedans. A sedan car or saloon car (British English) is a passenger car with two rows of seats and adequate passenger space in the rear compartment for adult passengers. The vehicle usually has a separate rear trunk for luggage, although some manufacturers such as Chevrolet, Tata, and Volkswagen have made rear-engined models. It is one of the most common body styles for modern automobile LITERATURE REVIEW We studied some current literature and news reports available on the growing mid segment sedan market in India. There is a huge shift that is currently happening as far the car market is concerned. Companies are now starting to believe in the â€Å"India Growth Story†, and changing their focus to lure high spenders and people who are connoisseurs of luxury and premium cars. All companies have either entered or planning to enter this segment. Some of the latest reports from the executives (or the company) of some of the leading players in the market are as mentioned below. Speaking to Business Standard, Fumihiko Ike, chief operating officer of regional operations, Asia Oceania, Honda Motor Company, said: â€Å"There will be multiple models coming out of the small car platform after its launch in 2011. We will explore a sedan, too, using the same platform to make maximum use of our resources. † While Japan's third largest auto company, Nissan, had stated earlier that it would also pull out a mid-sized sedan from the small five-seater car that it would launch this May. Toyota Kirloskar Motors will be launching a sedan based on the concept compact model, which it had showcased at the recent Auto Expo held in Delhi. Company officials decline to reveal the targeted price, but state it will be available in the same range as the Swift Dzire, which is Rs 4. 90-5. 5 lakhs. Czech-based car maker Skoda Auto is also working on a car which it is keen on positioning below the Octavia, a premium car sold above Rs 10 lakhs. Thus, this area presents a huge marketing opportunity for companies and so is an exciting subject for study as well. CATEGORY The brands this study would cover are Ford Fiesta, Maruti Suzuki SX4, Hyundai Verna, Fiat Linea and Honda City. Research Methodology Prime focus of the research: To find the value positioning of Honda City among the mid segment sedans. Target Group Since we were studying the mid and the premium segments there are three groups that we targeted in our study: Existing consumer who buy cars. Probable consumers who can convert into active consumers into near future. Consumers who shall be converting into such category in distant future. We basically studied the following categories of people for our analysis: Working professionals Youths in the age group of 25-40 with high disposable income Students and other youth about to join service or start up on their own First year students of XIMB were also considered for the study Methodology The attempt of this study was to cover the growth of the premium segment watches as a lifestyle statement, the coverage included quantifying or finding the strong and the weak attributes that pursues the sales of these watches hence the methodologies used are: Focus Group Discussions (2) In-depth Interviews Survey methodology (Sample Size = 101) While the group observation and discussion helped us to identify the qualitative aspect of the study at length the survey methodology helped us to reach to a various inferences related to percentage of people preferring the sedans, the primary drivers for the various mid segment sedans, the strengths and weaknesses of the brands, stochastic share of brands etc. which is discussed in detail in the report at a later part. Process Since we are targeting such diverse consumer group our survey has to extend beyond regional level. The focus of our survey shall be: Pan India Survey Respondents from metros- Prime target study Mini metros Class 1 towns Online questionnaire: We used this as our method for collecting data so as to reach customers from all possible segments and various cities. Sampling The traditional sampling approach, i. e. the sample was selected before data collection began and sampling without replacement was performed. The following techniques were used: Sampling Technique The traditional sampling approach was used, i. e. he sample was selected before data collection began and sampling without replacement was performed. The following techniques were used: For the qualitative analysis, i. e. in-depth interviews and focus groups discussion, subjects were selected based on the attributes and the parameters for buying the mid segment sedans mostly from students and working population. For the quantitative analysis, snowball sampling was adopted. Recent buyers helped to send the questionnaire to ot her people who were passionate about mid segment sedans. Sample Size Around 150 people were included in the study with the following rough breakup. Around 10 people for the focus group discussions and the in-depth interviews (Qualitative Analysis) Around 101 people for the Sample survey (Quantitative Analysis) Aspiring groups comprising of students, young working people and executives were considered. Variables Dependent Variable Independent Variables Now we have a look at the various independent variables that in turn have helped us to decide the preference of a particular mid segment sedan. Affordable Price – Whenever customers go to buy a car, some of them may have a particular budget in their mind while some may be willing to spend any amount. Many a times it happens that a customer goes to a showroom and asks the dealer to show cars with a particular price range while at times they are willing to spend any amount if they like a particular car. Hence this variable helps us in understanding the attitude of customers with respect to the price they are willing to spend when they go to purchase cars especially in the segment of 5 lakhs to 12 lakhs. This variable also helps us to understand very important factors like whether the customer is willing to compensate quality to save cost because if he is not willing to spend more if he is getting a better quality car in a price beyond his budget then it shows that the customer is strictly limited by his price range while making the purchase. Comfort – Comfort is one of the important aspects while deciding on the choice of cars. When a customer is willing to pay any amount over 5 lakhs for a sedan that means he or she is looking for a car which provides good comfort. Comfort in a broader aspect touches upon the experience of a customer when he or she is travelling in car. Sufficient leg space, seats and a good shock absorbing system are quintessential in determining the comfort of a car. Interior and Exterior looks – Aesthetics and looks are always an important criteria for purchasing a car. Sedans are typically considered as mid segment cars because of its superior exterior looks and good interiors. This variable helps us to determine whether people consider exterior and interior looks as one of the defining criterion while going for a sedan. Safety and additional Features – With increase in the options available in the market, many a time customers may want to look for additional features being offered in different mid segment cars. Air bags, power steering, alloy wheels, music player, central locking and multiple colour options are various other additional features which customer are looking for when they purchase a car. This variable will give us an idea as to how much priority a customer gives to these features. Mileage – Middle and upper middle class people always look out for a car which has a good mileage. As fuel prices are increasing year after year, mileage has definitely been a governing criterion for all car takers. This variable will help us measure the importance of mileage as one of the deciding parameters. Power – One of the most important features of a mid segment sedan is the power. There is a substantial increase in power from the small cars thereby giving more pick up and stability in the long run. This variable will help us to determine whether people perceive power as a criterion to select a sedan or not. After-Sales Service – Possessing a good car does not solve one’s purpose. Customers are looking for cars which not only are affordable, give good mileage but also which have good after sales service. Therefore, after sales service is very important in today’s competitive environment. This variable will give us an idea how important is after sales service when customers go for a particular brand. Status Symbol – India has been growing at a fairly fast rate which eventually has raised the per capita income. With the growth in income people have become more conscious about the kind of cars they possess. Therefore, status symbol is an important parameter when we go for a particular brand. This variable will tell us whether status symbol is one of the criteria to go for a particular brand. In addition to the above independent variables we have also gathered some demographic data of the people so that we can have a better understanding of the pattern of preference of people coming from different locations, belonging to different age group, having different annual incomes etc. Some of these demographic variables are listed below Name: Name of the respondent Gender: To find out the gender of the respondent Occupation: To find out the current occupation of the respondent Household Income per annum: To find the income group to which the respondent belongs. Price willing to pay for a sedan: To find out the price range which respondents are comfortable while going for a sedan. Qualitative Analysis Qualitative Analysis was carried out using focus group discussions to generate hypothesis about purchase decision of a car for people and how different factors affect their decision. Qualitative analysis will be helpful for getting a detail insight into the problem. Focus Group Discussions Honda City has been regarded as a prestigious brand in India since its launch in 1998. It maintains a significant market share in its class and enjoys a very high level of popularity. The luxurious sedan has a lot to offer to its potential buyers- new engine, new design, more grandeur, increased cabin space, and of course top notch performance. Objectives: To find out the perception of people about Honda City among the mid segment cars in terms of factors that affect the purchasing behaviour of customers. They are factors like: {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} {text:list-item} To check the status of Honda City as compared to its competitors like Verna, Ford Fiesta and Linea in the sedan segment of cars. Target Population: Young Professionals in the age group of 22-35 years. Users of Honda City and users of other brands Non users of cars Students with no work experience and others with substantial work experience of 2-4 years. Content Analysis: Table 1 CONCLUSION BASED ON QUALITATIVE FINDINGS From the overall Qualitative Analysis, it seems that customers of premium watches are very conscious and careful buyers. For them the most important features are the Quality of the watch and are very particular about its Performance as well. They view it as a strong status symbol and an accessory, which adds to their personality. Also, people these days lay a lot of stress on the additional features like Embedded Jewellery, chronographs etc Quantitative Analysis Quantitative data analysis has been done in the following way. An Excel Analysis of the demographic profile was done first to understand the respondents’ background and to check the general attributes of the respondents. Then the Factor Analysis was done, the result of which has been explained below. Then the top 2 boxes scores were analyzed for various attributes based on respondent profiles. Then Jaccard Analysis was done to find out the primary drivers for the mid-segment car category. It was followed by stochastic share analysis and SWOT analysis. Then cross tabulation was done to measure Brand Preference with the top 2 boxes for all the important attributes. This is how an extensive quantitative analysis for our research was done. Demographic profile of the respondents Gender Profile {draw:frame} The gender profile of the respondent base is tilted towards the male category as they constitute 76% of the total base. Age Profile {draw:frame} Occupation {draw:frame} Of the total number of people surveyed, the service and self employed categories almost constitute 50% of the responses. All the respondents provided their employment status within these three categories and nobody opted for the â€Å"Others† category which was provided. A lot of respondents were from our institute making the student population half of the total responses. Students make the aspiring group and also form an important part for the emerging market. Total Household Income {draw:frame} Pilot Testing Initially a questionnaire was developed as per the requirements of the research proposal. This questionnaire was subject to pilot testing to find out the errors in it if any as per the attitude of the people. To find out if any question is confusing or not conveying the intended meaning it was done. For this we selected around 15 people according to the sample needed for the study. These people were asked to fill up the questionnaire. We noted down any possible problem that these respondents faced while filling up the questionnaire. After this we worked on such problems found out and the suggestions from these respondents with respect to the questionnaire. Some questions those were conveying double meaning or creating confusion was omitted from the questionnaire. This edited questionnaire was then used as the final questionnaire and then the study was carried out. Bi-Variate Analysis Total Household Income Vs Amount Willing to Spend on a Sedan It can be inferred from the above figures that the people want to own a car mostly in the range of annual salary they earn. But majority of the people are willing to buy a car in the range of Rs. 5-7 lakh. It is interesting to find that a very few people want to buy a sedan in the range of above Rs. 12 lakh among the first four income groups. Still people having income below Rs. lakh have shown interest in buying such a sedan possibly due to aspirational reason. Total Household Income Vs Preference of Respondents for Various Brands It can be observed that for those people earning less than Rs. 300000, there is not much difference between the preferences for the different brands. Nonetheless, Honda City and Ford Fiesta are the winners with equal percentage of fan following. In the higher categories of to tal household incomes, it can be inferred that Honda City has a clear cut upper hand over the other brands. Only Suzuki SX4 comes close to it in some cases. This shows that people with higher earnings definitely would like to choose City over other given brands in the mid segment category. People with lower incomes are open to any brand FACTORING Factor analysis is a data reduction technique that aims at grouping the input variables, which have dependency with each other, into factors that underlie the input variables. Initially the total number of factors in the factor analysis is equal to the total number of input variables. But after the factor analysis the total number of variables in the study can be reduced by discarding the insignificant factors based on certain criterion. We have performed factor analysis on all the questions that we had in our questionnaire treating each one as an independent variable. The extraction method chosen for factor analysis was Principal Component matrix. This is the most popular technique for factor analysis, which determines loadings of variables on different factors by using the standard normal values of the observations of the original input variables. The rotation method used is Varimax with Kaiser Normalization. We have given the SPSS output as a separate attachment with the report. Extraction communalities are the variances of the variables accounted for by the factors in the factor solution. Large values of communality of all the variables indicate that they fit well with the factor solution, and thus should not be dropped from the analysis. Clearly all the fifty-two variables have fairly high value of extraction communality and thus should not be dropped from the factor analysis. Scree plot is the curve obtained by plotting Eigen values against their corresponding factors. The eigen value of a factor captures the variation in all the variables captured by it. The Scree plot above clearly shows that the slope of the curve falls after the fifteenth factor and also eigenvalue drops below Due to these only fifteen factors are taken into consideration. The total variance table also gives the details of the fifteen variables of the factoring output. The second column indicates that there are 15 factors for which Eigen value is greater than 1. The last column ‘cumulative %’ gives the percent of variance accounted for by all factors or components up to and including the current one. The fifteenth factor has a value of 82. , which indicates that all the fifteen factors till the current one total account for 82. 6% of variance. The following manifest variables were used for factor analysis: Price on mind while buying Price is the deciding factor Japanese cars of superior quality Warranty important Spare parts availability Serviceability Engine life After sales value Additional features 10. Mileage 11. Engine power 12. Performance feedb ack 13. Status symbol 14. Uniqueness 15. Investment source 16. Superior functionality of premium cars 17. Necessity 18. Affordability reduces attractiveness 9. Perceived as successful by colleagues when driving premium cars 20. Great interior and exterior looks KMO and Bartlett’s Test KMO test indicates if the sample size is adequate with respect to number of variables being considered. 0. 815 indicates that the sample size is adequate. We can also reach the same conclusion by multiplying the number of manifest variables by 5, which is 100 (=20Ãâ€"5) and that is less than 101, the sample size. Bartlett’s test has a chi square distribution and if significance is greater than 0. 1, then data is unimodal. But the high significance level here shows that the data collected is not skewed and has more or less a uniform distribution. Communalities Total Variance Eigen cut-off value has been set to one here. As we can see in the appendix attached, there are four factors which explain 60. 97% of total variance. {draw:frame} Screen Plot Scree plot shows how the Eigen value varies across factors. The points above the Eigen value of 1 in the scree plot constitute the factors. The first four factors have thus a steep value after which the slope flattens. Rotated Component Matrix draw:frame} The rotated component matrix shows all the manifest variables grouped together in various classes which are called factors. They are called latent factors because they are the underlying variables which determine the dependent variable. Also the first factor and the manifest variables under it explain the dependent variable more than the second and third factor. As can be seen from the rotated component matri x table below, eight manifest variables can be grouped under one factor. Another 5 variables under the second factor and so on. Each factor has been provided by a name. A list of the factors and the manifest variables involved is given below: Factor 1 – Features of car/sedan Warranty important Spare parts availability Serviceability Engine life After sales value Additional features Mileage Performance feedback Factor 2 – Social/Perceived Factors Investment source Superior functionality of premium cars Necessity Affordability reduces attractiveness Perceived as successful by colleagues when driving premium cars Factor 3 – Prestige Factors Japanese cars of superior quality Status symbol Uniqueness Factor 4 – Monetary Aspects Price on mind while buying Price is the deciding factor _ _Top of Mind Analysis {draw:frame} The above chart shows the percentage distribution of the various car brands which were provided by the respondents when asked for four various car brands which came to their minds in the mid segment. A total of 45 different car brands were given as response by them consisting of vehicles in the low, mid and the high segments. The most prominent brands were selected and the data concerning them was analyzed. It can be clearly inferred that Honda City enjoys a very good share of the respondents’ top of the mind with a share of about 27%. Maruti SX4 comes next with a share of 14% followed by Ford Fiesta at 11%. When asked about the first brand which comes to their minds, again Honda City was the clear winner by a large margin with about 37 respondents providing the brand name. Jaccard Analysis Jaccard analysis is used in market research to establish which attributes of a brand are important to the customers and the extent to which each of the attributes satisfies their expectations. Jaccard analysis is primarily done to find out the variables in order of their importance for their ability to govern groupability or similarity with the dependent variable. In our marketing research, we have used Jaccard scores to identify the attributes which are important for the brand category using five brands, namely, Honda City, Ford Fiesta, Hyundai Verna, Fiat Linea and Suzuki SX4. These attributes will constitute the primary drivers of the brand. We calculate the Jaccard score as follows: The respondents are asked about their brand preferences in the category and their responses are noted down. Then they are asked if they associate a particular attribute with each of the brands under study and their responses are again noted down as follows: YY: If the respondent prefers a brand and associates with a particular positioning. YN: If the respondent prefers a brand but does not associate with a particular positioning. NY: If the respondent doesn’t prefer a brand but associates with a particular positioning. Jaccard Score = YY / (YY+YN+NY) We calculated the Jaccard score for each of the attributes and ranked the attributes from highest to lowest in descending order of the scores. That means in Jaccard analysis, higher the Jaccard score, better is the attribute. After they are ranked, the attributes with scores above a benchmark score are listed. These attributes are named Primary Drivers. The table given below gives the primary drivers for the brand category of Honda City: Based on a cut-off of 0. 4, we find that the following attributes are the primary drivers in the brand category concerned: Exterior/Interior Looks Comfort Affordable Price Power SWOT Analysis SWOT analysis is done to find the strengths, weaknesses, opportunities and threats of a particular brand with respect to other brands in the same category. When studied along with the help of Jaccard analysis, it becomes a powerful tool to identify the areas of strengths and weaknesses. In SWOT analysis, strengths and weaknesses are internal to the organization while opportunities and threats are external to the organization. A positive SWOT score indicates strength and a negative SWOT score indicates a weakness. It is also observed that the SWOT analysis works on the principal of zero-sum game. A gain on an attribute of a brand is counterbalanced by a loss in another attribute. SWOT scores are calculated as follows: SWOT SCORE = (Brand Attribute score – Attribute Average) – (Brand Average – Grand Average). Here, Attribute’s average is average of all brands’ scores for that particular attribute (Row Average) Average of Brand’s scores on all attributes being considered (Column Average) Grand average of scores (Average of row averages/column averages) The following table is generated for the SWOT scores of different attributes and brands: We have categorised the scores on the basis of the above table. As shown, the attributes with a SWOT score of more than 2 are identified as strengths and are shown in dark green colour. Attributes with SWOT score between 0 and 2 are weaknesses and coloured red, those between 0 and -2 are threats and coloured yellow. Lastly those attributes with SWOT scores less than -2 are labelled as weakness of the concerned brand and coloured red. Now we focus on the brand under question – the Honda City. The attributes of the brand based on SWOT scores can be summarised as strengths, weaknesses, opportunities and threats in the table given below: Honda City STOCHASTIC ANLYSIS When we are talking about the strength of a brand there are few parameters using which we judge the strength of the brand based on the share it has like: Share of Market This measures the hold of the brand of the market. The problem with this kind of analysis is that it tells the strength of the brand today it reflects no projections and possibilities for future. Share of Mind and Heart is the one that highlights the prospects of the brand in the coming future. It tries to capture what the consumer thinks and believes of a particular brand and thus helps us to determine the prospects of the brand in future based on present perceptions. While conducting the market research for Honda City we have resorted to stochastic share analysis, to see the strength of the brand Honda City relatively to other brands in terms of share of mind The analysis has two parts: Preferred set size of the brand Stochastic share of the brand Preferred set size analysis This part of the analysis hovers to procure the data regarding the preference of the brands in the market. It is the simple process in which the respondent has been asked for preference for the brand from the given choices. Respondent’s response for each brand is treated as a unit for each brand; he can prefer more than one brand. All the brands for which the respondents has respondent in affirmative get allocated a unit i. e. if the respondent says he is aware of Honda City and Fiat Linea, both of them will be appended to the column of Honda City and Fiat Linea. In the end summation of the response is taken and the preferred set size is calculated. Of a brand = ————————————————————————————— Total no of respondents that has a preference for that brand Following table has been extracted from our analysis OBSERVATION The preferred set size for all the brands lies between 1. 38 and 2. 41. Honda City has the value of 1. 38 which essentially means people are pretty clear when it comes to Honda City than any other brand. In fact the total data exhibits far lower preferred set size. If see the preferred set size of the other sedans, we can see that they are pretty well distributed which means preference of a particular brand are clearly visible. Inference The ideal score for any preferred set size is 1 which means this is the only brand preferred by the respondent. This sends a very strong message that there is no close competitor to the given brand, when we are talking in terms of preference set of consumer. For the given analysis we observe that some of the sedans have a preference set greater than 2 and some have a score significantly less than 2. The scores which are less than 2 are a good signal because the customer has more clarity and Honda City enjoys higher preference as compared to its competitors. Stochastic Share Analysis This is the second part of the analysis here we approach the core of the analysis. Taking data from the preferred set size analysis we proceed to calculate the stochastic share of the brand The number of respondents that have responded in affirmative for any brand represents the set, which can become the buyer of the brand hence they represent the future market share for the brand and today’s share of mind this is calculated as No of respondents who responded in affirmative for the brand preference __ Total set size of the respondents considered Now this is the market share of the brand but as we have analyzed before the brand is preferred alongside other brands as well so this share of the mind includes the respondents who prefer other brand as well. Thus to get the actual % representation of a brand in the market we calculate Proportionate market share = % of market calculated earlier ——————————————————- This is now the actual share of the brands but this is not the actual share of mind of the brands that is represented by the share of the brand among he brands considered for study. Proportionate share of the brand Stochastic Share = —————————————————————————- ? Proportionate share of all the brands in the consideration set Fol lowing is the table from our analysis Observation There has been a conformance in the data pattern from that noted in the Preference set analysis. Honda City has the least preferred set size, and has the stochastic share of 56. 40% where as the other sedans have stochastic share between 8% and 17%. Inference This reiterates the fact of the preferred set size analysis where Honda City had the lowest preference set score, thus Honda City could be a leading brand in the market. This analysis emphasizes that Honda City is the brand with the highest share of mind of all consumer. This would or already has translated into highest market share in the segment of sedans, as people are all for this brand when it’s up against the other considered brand. Unparallel attributes that are highlighted by the brand Honda Aggressive marketing effort, which has left a lasting impression on the respondents Precaution in adaptation of analysis The analysis has been done based on the respondents and following points have to be kept in mind The analysis has been drawn on the basis of the respondent set thus depending on the response for the sample set the analysis is done. The competitor set size has been defined with deliberate efforts but the share output could vary with the competitor set. Conclusion Honda City definitely enjoys a good top of mind share in the mid segment cars. So, it shows it is enjoying a good position in the sedan segment. But the pricing is obviously becoming a deciding factor in a small city like Bhubaneswar. Most of the people are willing to spend around 5-7 lakhs on Honda City and not more than that. The most important factors that people look for while purchasing a car are features present in the car, prestige issue linked with the purchase, factors like after sales service, availability of spares, etc and of course monetary factors. Comfort, looks, status symbol and maintenance are the strengths of Honda City. But there are other things like after sales service where Maruti SX4 is the leader. It is also lagging behind competitors like Hyundai Verna, Ford Fiesta, and Maruti SX4 in areas like power, mileage and additional features that people expect to be present in a sedan. Honda has got a high stochastic share which means that it has a large potential market. People want to go for it but are not doing so presently due to some factors. So, Honda should try improving on its weaknesses and keep its strengths intact. It should also be alert for new threats in the market. This can lead Honda to be the market leader in the Sedan segment.