Marketing Simulation Essay

The rest of the sales force time would be equally divided between the segments B, C and D. Change in Strategy: During simulation, we studied the effects of percentage increase of sales force time for each market segment individually along with decrease in list price. As we proceeded with the simulation, we found that * A decrease in list price and an increase in percentage sales force time for segment D would be more fruitful in the short run as it will increase the overall sales volume and overall profit much more than in the case where sales force concentrates more on segment A. This is because the overall market share of highly price sensitive customers in segment D and â€Å"small volume customers† is almost three times of segment A’s market share. * So, even though the profit margin in segment D and â€Å"small volume customers† is lesser than that for segment A, the overall profit was greater because of the scope of much higher sales volume. * Hence, we dec ided to increase the sales force percentage time for segment D to 40% and for segment A to 30%. We decreased the sales force time percentage for segments B and C to 15% each. Also, we reduced the list price from $142 to $136. Challenges during simulation: During simulation, the primary challenge we faced was to decide on the key parameters that should be changed and the level of change in each of these parameters to get optimum profit and higher market share. Key decisions: Since our initial strategy was to increase the sales volume of segment A, we decided to concentrate on sales force time percentage parameter for each segment and the list price of the motors. We studied the effects of percentage increase of sales force time for each market segment individually along with decrease in list price on the overall profit of the company. Solution Analysis Decrease in list price from $142 to $136 and increase in sales force time percentage to 40% for segment D and to 30% for segment A. As we proceeded with the simulation, we found that * A decrease in list price and an increase in percentage sales force time for segment D would be more fruitful in the short run as it will increase the overall sales volume and overall profit much more than in the case where sales force concentrates more on segment A. This is because the overall market share of highly price sensitive customers in segment D and â€Å"small volume customers† is almost three times of segment A’s market share. * So, even though the profit margin in segment D and â€Å"small volume customers† is lesser than that for segment A, the overall profit was greater because of the scope of much higher sales volume. * Segments B and C sales force time was reduced because of the high competition that MM faces in these categories on the basis of the rmal resistance parameter. Hence, in the long run, MM can target for higher profit margins than for higher sales volume if it concentrates the sales and market research resources to segments A, B and C. The main challenge with this approach is that it would difficult to attract customers from these segments who are already loyal to competitors and would require much more effort from the sales team and the product development team to come up with a product that caters the needs of these segments especially segments B and C where MM has yet to prove its overall competitiveness. Learning and experience This simulation exercise helped us to validate whether our suggested solution was an optimal one and also helped us to arrive at new solutions through experimentation which finally led to change in our overall decisions and strategy. It also showed us how varying a single parameter can change the overall market share and overall profits of the company. Finally, it reinforced the theory behind segmentation of customers according to their buying behavior to achieve optimal marketing strategies.

Use risk perception and risk communication perspective to evaluate the Essay

Use risk perception and risk communication perspective to evaluate the disaster management policy-making process - Essay Example Use risk perception and risk communication perspective to evaluate the disaster management policy-making process The earth has been found to be the only life-supporting planet for now. At least even if humans can live on other planets, it is the earth we all live on now.So if we are talking about keeping the earth intact and productive, then we should be thinking of ways of reducing; if not stopping disasters from occurring. The Assam Government Disaster Management Policy (2010) explains that â€Å"disaster is a sudden, calamitous event bringing great damage, loss, and destruction and devastation to life and property.† Sadly, the source continues to note that â€Å"the damage caused by disasters is immeasurable and varies with the geographical location, climate and the type of the earth surface/degree of vulnerability.† This explanation alone reechoes a very scaring situation whereby the fight against disaster must be embraced with all seriousness and urgency. Speaking of the need to fight disasters, the International Federation of Red Cross and Red Crescent Societies Disaster Man agement is quoted in World Confederation of Physical Therapy (2011) as pointing to disaster management as the most effective way of fighting disaster; explaining that â€Å"disaster management is the organization and management of resources and responsibilities for dealing with all humanitarian aspects of emergencies, in particular preparedness, response and recovery in order to lessen the impact of disasters.† ... At the evaluation stage of policy making, policy makers are offered the opportunity to critically scrutinize the feasibility, achievability, effectiveness and usefulness of any given policy. Having noted this, it is important to appreciate the fact that for disaster management evaluation to go on successfully without any setbacks, there are a number of factors that need to be put in place and a number of mechanisms that need to be used by facilitators. Two of these factors and mechanisms are risk perception and risk communication perspective. These two elements come in best when utilized will ensure that the eventual implementation of disaster management policies achieve their needed results. To this end, this essay seeks to explore the use of risk perception and risk communication perspective to evaluate a given disaster management policy-making process. Literature Review Overview of disaster management policy making process and its importance Policy making process takes place day i n and out in different quarters of organizational set ups. Even at the national level, there are several policy making processes that take place day in and out. Policy making processes are necessitated when the need to have policies in place arise. Sycamnias (2008) states that â€Å"according to a dictionary definition, policy is "any course of action followed primarily because it is expedient or advantages in a material sense."† Without any question, disaster management is such an important phenomenon that it needs a whole policy formulation to get it underway. As part of the importance of taking disaster management through the policy making process, taking disaster

Sustainable life Essay Example | Topics and Well Written Essays - 500 words

Sustainable life - Essay Example I should use low energy appliances in my home. I should make use of empty containers instead of throwing them in the dustbins. I should do wise shopping. I should reserve a bag for carrying things. Whenever I go shopping, the bag should be with me and I should put everything in that bag instead of plastic bags. Long story short, I have to make sure that nothing gets wasted. 3. Principal challenges that hinder the tendency of cities to become sustainable are the citizens’ huge reliance on the depleting natural resources. The biggest challenge in front of government is to improve the standard of living of the poor population in the urban areas. As the population in a city increases and its economy strengthens because of growing businesses, so do the complexity of management of these cities and administration of business. 4. Oil is America’s biggest problem. In order for US to become sustainable, it is imperative that all efforts are focused at minimizing consumption of oi l. Alternative energy sources like wind and solar energy should be used. In order to make US sustainable, cities should be made more compact.

The relationship between HRM and business performance Literature review

The relationship between HRM and business performance - Literature review Example First, the review suggests that human resource practices have synergistic and performance enhancing influences when used in conjunction with empowerment-enhancing practices that boost employee responsibility and autonomy. Secondly, study attempts to explore the link between HRM and firm performance by studying frameworks that link HRM to financial performance despite the various studies that claim there is no link between HRM and Firm performance. The literature offers overview on research regarding HRM and Businesses performance and subsequently shows the relation between HRM and performance in organizations. Business strategy and the integration of HRM practices form an essential factor in organizational effectiveness because the use of business strategy as a contingent factor moderates the relation between human resources practices as el as firm performance. Therefore, business strategies paired together with proper HRM activities have positive influences on the firm’s perf ormance. According to Ahmad and Schroeder(2003) and their counterparts Youndt and Snell(2004), the impact of HRM to organizational outcomes became an essential topic in early 1990s because it attaches significance to motivational aspects of organizational practices in developing and utilizing human capital. HRM involves development of people’s abilities and attitudes in way that the individual can develop personally and contribute toward the organization’s goals. According to Youndt and Snell(2004), other studies consider HRM practices to be pay and reward, recruitment and selection, training and development, health and safety as well as work expansion or reduction. However, various studies suggest that six essential HRM practices that are likely to positively influence a firm’s performance include training and development, teamwork, incentives, HR planning, performance appraisal as well as employment security (Sels, Winne, Delmotte, Maes, Faems and Forrier, 200 6; Seibert,Silver and Randolph, 2004). According to Sels et al (2006), training and development involves the amount of formal training offered to employees, although organizations can offer extensive training, organizations also rely on acquired skills through selection and socialization. Training in businesses influence performance in two key ways the first one being, that training improves on the relevant skills, capabilities, and secondly training compliments employees’ satisfaction in their prevailing job and workplace. Teamwork in businesses contributes to business performance because it results in effective achievement, facilitates flow of ideas resulting in innovative solution and helps in saving administrative costs associated with paying specialists in order to watch people (Sels et al 2006). Incentives in businesses rely on performance and remain one of the usual means for organizations to enhance employee motivation through provision of performance-contingent incen tive in order to align employee and shareholder interests. According to Chiang(2004), although compensation is categorised into financial and non-financial incentives, some incentives like pay incentives in form of bonuses and profit sharing or even indirect compensation like health insurance and vacation all influence the performance of firms. According to Gill and Meyer(2008), HR planning in enterprises involves forecasting

Politics in East London Research Paper Example | Topics and Well Written Essays - 1500 words

Politics in East London - Research Paper Example This paper discusses the current political system and main challenges encountered by Hackney, Croydon, Tower Hamlets, and Lewisham. Response of the boroughs to the Alternative Vote (AV) The residents of Hackney responded differently to the Alternative Vote (AV) than the common response of the residents of the rest of the three boroughs of East London. While the residents of Lewisham, Croydon, and Tower Hamlets voted against the AV, only Hackney supported the Westminster Electoral system’s reform in the referendum of 2011. According to the statistics noted by Brown (2011), in the electorate’s 34.23 per cent turnout, electoral reforms endorsement in Hackney happened with a majority of 10,905. 39.32 per cent of the people voted against whereas 60.68 per cent of them voted in favor. A turnout of 35.9 per cent was observed in Croydon and most of the residents i.e. 67.01 per cent voted against whereas only 32.99 per cent voted in favor. The response from the residents of Lewi sham was much similar to that of Croydon as 50.65 per cent of the residents of Lewisham voted against any alteration in the First Past the Post system. In Tower Hamlets, 54.17 per cent of the residents voted against and the rest voted in favor of choosing a new way to elect Webminster’s MPs. According to the opinion polls, the No Campaign had received a victory across the country. This served as a blow to the Liberal Democrats who had been heavily defeated in the local elections and others who wanted a preferential system of voting. Comparison of severity of main issues in the boroughs London Poverty Profile (2010) drew a comparison between the level of severity in the issues of low income and benefits, low pay, low education attainment, ill health, and inadequate housing among London’s boroughs. According to London’s Poverty Profile (2010), of the four boroughs in the East London, two with the comparatively greatest problems of â€Å"low income and benefitsâ⠂¬  include Hackney and Tower Hamlets, Lewisham has comparatively lesser issues of low income and benefits whereas these issues are the least in Croydon. The issue of â€Å"low pay† is the most severe in Hackney, its severity is almost the same in Croydon and Lewisham, whereas low pay as the issue is the least severe in Tower Hamlets. The issue of â€Å"low education attainment† is the most severe in Hackney, its level of severity is lesser in Lewisham, whereas its level of severity in Croydon and Tower Hamlets is the lowest. The severity of the issue â€Å"ill health† is maximal in Hackney, lesser and almost the same in Lewisham and Tower Hamelts, and is the least in Croydon. The issue of â€Å"inadequate housing† is the most severe in Tower Hamlets, its level of severity is lesser in Hackney, it is even lesser in Lewisham, whereas the level of severity is the lowest in Croydon. Government-imposed cuts in public spending and its effects in the boroughs The Coalition Government in the UK is attempting to reduce the deficit in budget by bringing immediate and deep cuts in the public spending. The government claims of implementing progressive and fair cuts and of protecting the most vulnerable. Nevertheless, it is hard to make such reductions in public spending without having any negative implications for the most vulnerable communities. Hackney is the second most deprived borough in the UK after Brent and is likely to experience loss of money by as many as 6790 poor households as a result of the

Sources of Donations for BYS Research Paper Example | Topics and Well Written Essays - 1000 words

Sources of Donations for BYS - Research Paper Example Sources of Donations for BYS The purpose of this study is to explore how public relation marketing can help in raising funds and gaining donations as well as creating brand image. It also gives an overview of planning and management that will help to find the source for donation that matches the ethical standards of an organization. Donations prove to be the best way for any organization to engage itself in public relation marketing. It all depends on the relationship maintained with other organizations, which can possibly generate donations for BYS. The ethical standards of the company define the communication and relationship it maintains with other companies. As every organization has its own â€Å"ethical codes† which the employees have to follow, based on this one can create recognition for the brand and organization. Newspapers, magazines, press release and digital media are the sources that facilitate public relation marketing for donation. To align with the values of public relation marketing there should be persuasion and influence among the people, and the â€Å"power to persuade† depends purely on the individual’s ability. The credibility of an organization depends on branding and it comes from public relation marketing. To gather more source of donation from other firms there sho uld be a proper communication and good awareness of brand and it can be done through public relation marketing. Public opinion is formed through â€Å"communication model† and the individuals who practice public relation play the most important role in communication cycle. (p. 35). It is their knowledge that helps the organization to ensure smooth performance. Public relation practitioners help the firm to gain trust from their key clients. People expect the organization to be good and contribute socially for a good cause. In this context, public relation marketing and social responsibility go hand in hand. Challenges faced during this process, however, can affect the values of public and community. Therefore, the organization should not encourage activities that may negatively impact the company’s relationship with the media. Communication break down can result in poor response for brand publicity as well as the source for donation. In large scale enterprises, donatio n work is done by the public relation department, who are responsible for marketing the areas of interest among the targeted audience. Proper allocation of investment and sponsorship are the essence of public relation marketing for donation source. Right choice of marketing benefits the brand image and helps in creating a really impressive impact on donors. The partners and stakeholders of a company are the biggest beneficiaries of the organization’s brand image. Hence before getting into marketing for a particular cause there should be choice of donors. The ethical professional standards of the company are designed by the CEO and the public relation officers. The credibility of the company comes from loyalty, which should be basically maintained through public relation by the professionals. This calls for setting a timeframe as well as aligning the efforts of individuals with the values and ethics of public relation. Describe two sources of donations that do not align with t he values of public relations marketing and BYS’s mission. Analyze how these donors could diminish BYS’s reputation for providing services based on ethical standards. Few think that socializing with other firms or taking gifts for expanding business is unethical and can bring down the brand image. If the company is looking for donation for a particular cause, then there should be a sincere way of approach based on company policy. The ethical standards of th

How War Is Necessary Essay Example for Free

How War Is Necessary Essay War has been with mankind for many millenniums. The reasons for wars in mankind’s history have all been various, however one big reason for war is that countries want to grow bigger, by taking over one another. Throughout history, rulers would not be satisfied with the amount of land that they had or wanted to spread their beliefs around the world. So, they did it by trying to take over others. However, some didn’t want to give up their land or change, so they fought. Fighting these wars are, however, necessary no matter what people believe. This is because fighting them and winning will stop them from controlling others. Some wars that stopped countries from controlling others are the second world war, the war in Vietnam, and the Revolutionary war. However, there are claims that the Vietnam war could’ve been avoided, but there would’ve been consequences for going to war. War is necessary because it’s a way to try to stop countries from dominating over others and controlling them. There are many ways that war has stopped countries from controlling one another. Firstly, the Vietnamese war was necessary because, the war would’ve stopped the spreading of communism to neighboring asian countries, also known as the â€Å"domino theory†. The idea of communism started with the election of Ho Chi Minh in North Vietnam. Kennedy wasn’t concerned with Vietnam until Lyndon B Johnson called Ngo Dinh Diem the â€Å"Winston Churchill of Asia† because, Diem was the only one trying to resist the communists and Johnson promised to help him. Noam Chomsky, a US philosopher, stated that if a country better its economy due to communism, neighboring countries would try to improve their economy using communism, as seen when China influenced North Vietnam. Had communism been successfully spread to South Vietnam, then Thailand, Malaysia, Indonesia, etc. Also, other countries would’ve lost faith in the US for not protecting S.Vietnam in their time of need. This shows that the US needed to fight this war to stop the communistic ideals from spreading to countries and to keep the confidence of other countries around the world, so that they could help the US when the US needs them. The second world war as necessary becau se, it showed how the world responds to a fascist ruler controlling a major country, trying to claim the world. It also showed how the US would react when attacked by another major country. Hitler want to create a â€Å"master race†, which was blonde-haired, blue-eyed people. So when he came into power, he had convinced the german people that jewish people were less than humans and should be treated as such. Thus he started taking over various countries in Europe and started killing jewish people to start his plan. While that was happening, the US was maintaining neutrality and supplying Britain, Russia, and China with weapons until the japanese attacked pearl harbor on December 1941. The US then declared war on Japan and fought in the Pacific theater until August 15th, 1945. Had the axis powers won World War II, North America and South America would be surrounded by dictators ready to destroy democracy and take over the world. Also, Hitler’s plan would’ve proba bly been completed and the world would’ve been comprised of blonde, blue-eyed people. However, the war told us that when we are concerned with individualism, we become selfish and corrupted or under the influence of corrupted selfish nations. This war was needed because, when one tries to dominate and take over another country, we become blinded and end falling. We need teamwork to stay strong in the world. Finally, the Revolutionary War was necessary because, it allowed rights normally granted by the king, to be for every single individual. It also sparked other revolutions, along with stopping Britian from controlling the colonies. When the French Indian War concluded, King George III made the Proclamation of 1763, which stated that no colonists may settle west of the Appalachian and anyone other than Indians there had to move from the area. The Boston Massacre also brought them closer to the revolution, because British soldiers killed 5 civilians for calling them names. The Stamp Act of 1765, Townshend Act of 1767, and the Tea Act of 1773, were all attempt of Britian to try and control the colonies in North America. However after the war, the Declaration of Independence was signed and Britian let the colonies rule themselves. With this newfound freedom, the colonists were allowed to trade with anyone they wanted, colonize past the Appalachian Mountains, set up a new government and th e British moved out of the colonies. Had the colonists lost the war, the US would probably still be under British rule to this day. Even with all this evidence that war is necessary, people still see war as a terrible thing. Going back to the Vietnam War, the Vietnamese War could’ve been avoided because the US could’ve stayed neutral and let the problem in Vietnam blow over, instead of sacrificing 50,000 men. The war would’ve been avoided and Vietnam would’ve became a communist country along with possibly, part of Asia. Robert McNamara, defense chief under John F Kennedy and Lyndon B Johnson, says that he doubted Vietnam would let China or Russia use them as a base, but that’s the US had feared at the time. The US had feared that China or Russia would use them as a base they could use to control more parts of Asia. The Vietnamese could’ve probably fought the war themselves and probably resisted the communistic ways of China and/or Russia. The belief about if war is needed in the world or not cuts both ways. Either that it helps bring everlasting peace in the world closer or it’s useless and all it does is kill off innocent people. War is a big thing that stops countries from trying to gain total global domination or keeping them at bay until they give up. Until that happens, there will be allies who will attack at a moments notice when a country is trying to bite off more than it can chew.There are so many more examples of how war is necessary in the world that this would be a lot longer than it is already. The concept of war may seem bad, but in the end, it’s all worth it.