Data Collection Relating to Personal Information and Purchase Behaviours †a Consumer Perspective

Information assortment identifying with individual data and buy practices †a purchaser point of view. Each person to a specific rate esteems their security. Separating factors among different people could be their social foundation, social condition, proficiency and general mindfulness among others. Progressions in innovation prompting advancement of mystery cameras for momentary photos, markdown cards that store your buy data, and scanners, have additionally added to this attack of security. Database advertising help advertisers to record genuine buy practices of clients and consequently assist them with observing and tailor their advancements towards the customer’s interests. Likewise on the web a client is required to fill in certain data before they can make their buys on the web. This thusly shapes the premise of information catching by the retailers; these data could be offered to advertisers for their advancement purposes. Sheehan and Hoy, (2000) recommends that if clients are made up for the utilization of their information, it could make them see the encroachment in another manner, and they may not likely term it as a security attack. Such is on account of markdown cards which are information catching instruments, however give client a specific level of rebate to make up for their unconscious loss of secrecy. Purchaser demography and relationship with security concerns Many inquires about completed on this subject, however restricted has demonstrated some fascinating perspectives. The discoveries of Wang and Petrison (1993) for instance and some different analysts are summed up beneath: †more established individuals demonstrated more worry about budgetary protection than more youthful ones; †more youthful individuals were increasingly mindful that their information were being gathered than more seasoned individuals †more youthful ones were progressively worried about the advantages they would get from giving out such data; †minorities individuals were less concerned; †downtown occupants were less concerned; lower than normal pay workers were less worried about their security data, yet gave more consideration to the remuneration appended; †high salary workers have more mindfulness and are progressively worried about their protection; †females display more worry than guys about their shopper security issues. (Graeff and Harmon, 2002). Numerous individuals discover it very simpler to deliver numerous segment information, for exa mple, age, conjugal status, occupation and training than to create what manages their funds, wellbeing and criminal records. Be that as it may, this likewise relies upon to whom the data is uncovered and how it would be utilized. For instance, in the event that you are opening a checking/advance record with BankPHB plc where I work, you might be required to give subtleties of your fiscal summary, individual salary/pay slip, a service charge demonstrating proof of your living arrangement, your government managed savings number or national distinguishing proof number by and large, your wellbeing/life coverage strategy thus a lot more on the off chance that you need access to a credit. Information of such private data could be offered out to law authorization offices should the individual be associated with having any contribution in illegal tax avoidance or other criminal offenses. Typically clinical records are created by work candidates at the purpose of section for screening purposes. Purchaser conduct as respects online buys and protection. On web buys numerous individuals don't learn about open to giving their Mastercard subtleties on the web, while some are simply not made a fuss over it, yet explore has indicated that not exactly a fourth of web clients feel uncertain with charge card online buys and more individuals like to utilize it in stores, or for phone buys (Graeff and Harmon, 2002). A great many people don't have the foggiest idea how their information is utilized and in any event, when they do know, it only from time to time impacts their buying conduct, particularly on the off chance that they are high pay workers, with the end goal that they despite everything approach their typical buying. Shoppers feel they should be educated and have control on how advertisers use data about their purchasing propensities; some likewise feel that administration ought to manage such uses (Graeff and Harmon, 2002). Albeit legitimate assents for abuse of customer data are presently set up, numerous advertisers despite everything overlook this and proceed with the training. Yet, it is inescapable that advertisers must put a harmony between their mission for data from showcase looks into and causing their clients to feel great working with them. Thearling (1998) in his work on information mining innovation censures the infringement of the customer’s right to security of his data. For example on the off chance that you give your subtleties exclusively to make a Mastercard buy and it is utilized for some other optional reason, for example, information mining, at that point it is a genuine offense. The basic role of information assortment must be plainly comprehended by the client, with an alternative to quit the divulgence of such information set up. He gave a case of the CVS tranquilize store who ceaselessly considered clients up when their membership was expected for the utilization of Elensys. Clearly they got the information through information mining of patients’ clinical information from emergency clinics or past buys. By and by, I feel this issue ought to be profoundly tended to and ought to be sanctionable to make buyers increasingly happy with doing their organizations unafraid of losing their protection. References: Graeff, T. R. furthermore, Harmon S. (2002) Collecting and utilizing individual information: Consumers’ mindfulness and concerns. Diary of Consumer Marketing. Vol. 19 No. 4 pp302-318. Accessible from: http://www. emeraldinsight. com. ezproxy. liv. c. uk/0736-3761. htm Accessed: September 10, 2009. Thearling, K. (1998) Data Mining and Piracy: A contention really taking shape? Accessible online from: http://www. thearling. com/content/dsstar/security. htm/Accessed sixteenth September 2009. Sheehan, K. B. furthermore, Hoy, M. G. (2000), â€Å"Dimensions of security worry among online consumers†. Diary of Public Policy and Marketing. Vol . 19 No. 1. pp 62-73. Wang, P. furthermore, Petrison, L. A. (1993), â€Å"Direct showcasing exercises and individual privacy†. Diary of Direct Marketing. Vol. 7 No. 1, pp 7-19.

The Big Business of Dairy Farming Essay Example

The Big Business of Dairy Farming Essay Example The Big Business of Dairy Farming Essay The Big Business of Dairy Farming Essay The Big Business of Dairy Farming : Big Trouble for Cows June 11, 2007 Most individuals know that dairies in the United States look to some extent like the untainted fields of days of old. Likewise with different parts of animal horticulture, for example, chicken and egg creation, hoard cultivating, and meat creation just as yield developing little, conventional dairy ranches have been consistently pushed out of the business by enormous agribusiness concerns. Since the mid-twentieth century, the development of plant cultivating has prompted the change of agribusiness, driving little ranchers to ? et large or get out.? Little homesteads can't rival huge horticultural firms since they can't accomplish similar economies of scale. The American dairy industry yearly delivers around 20 billion gallons of crude milk, which is handled and sold as spread, cheddar, frozen yogurt, and liquid milk. This adds up to about INR 1,739. 31 billion in deals every year. There are somewhere in the range of 65,000 and 81,000 U. S. dairies, yet corporate union implies that about portion of the milk sold originates from just shy of 4 percent of the homesteads. While the huge number of brands and marks on store racks would appear to demonstrate an assorted variety of sources, in actuality a considerable lot of these brands are possessed by a bunch of huge organizations. For instance, the countrys biggest dairy maker, Dean Foods, claims 40 or so marks, 3 of them speaking to natural milk. As the quantity of dairy ranches has diminished, the size of those remaining has expanded. Somewhere in the range of 1991 and 2004, the quantity of U. S. dairies dropped by practically half, and the quantity of dairies with at least 100 cows developed by 94 percent. Since large organizations commonly look for constantly expanding benefits, creation must be boosted, quite often to the detriment of the bovines somehow. The dairy animals must be pushed to deliver increasingly more milk. The creation of a lot of milk has called for changes that influence the animal’s wellbeing, including the utilization of medications, motorization, and manufacturing plant like lodging conditions. Most dairy bovines are brought up in concentrated creature taking care of activities (CAFOs); around 10 percent of those are viewed as huge CAFOs, each with in excess of 700 dairy cows. One of the keys to higher creation and higher benefits is to build the milk yield while raising less bovines. Somewhere in the range of 1950 and 2000, the quantity of dairy bovines in the United States fell by the greater part, yet during that equivalent period, the normal yearly milk yield dramatically multiplied. What made this conceivable, and how has it influenced the government assistance of the creatures? Visit pregnancy Cows resemble some other warm blooded animal in that they produce milk for the sustaining of their young; so as to lactate, a cow should as of late have conceived an offspring. In her common express, a bovine conceives an offspring following nine months of incubation and medical attendants her calf for seven months to a year. This is ? squandered? time that a dairy processing plant homestead would ill be able to manage the cost of notwithstanding the way that the milk is intended to go to advertise, not to the calf so calves destined to dairy cows, whose basic role in being conceived is to initiate lactation, are removed either following birth or inside a day or something like that. This partition makes incredible trouble the mother, who might typically take care of the calf in excess of twelve times each day and, as different vertebrates, shapes a solid security with her young not long after birth. Male calves are slaughtered or sent off to be raised for veal or meat. Females become dairy bovines like their moms; visit substitution of crowd individuals is important in light of the fact that the demise pace of dairy cows is extremely high. Cows normal future is 20 years or more, yet the normal dairy bovine lives only 3 to 4 years, depleted by consistent lactation and successive illness. Bovines on production line ranches conceive an offspring once every year because of managed impregnation. Around a few months in the wake of calving, a dairy animals is by and by impregnated, and the cycle starts once more. Lactation proceeds all through, aside from half a month break in the middle of its end (around eight months or so in the wake of calving) and whenever she conceives an offspring. Along these lines, dairy bovines are initiated to create milk for a large portion of the year. High-protein feed and development hormones Cows normally eat grass, which is the manner by which the rural picture of dairy crowds eating in pastures turned out to be so very much perceived. An eating routine of grass, be that as it may, is high-fiber and of low wholesome thickness and doesn't bring about a high milk yield. The milk created from this eating regimen would be sufficient to take care of a calf, yet it isn't sufficient to fulfill advertise needs. So current dairy cows are taken care of a low-fiber, high-protein diet of grains, for example, corn and soy alongside creature side-effects. As ruminants, they have stomachs with four compartments that are made to process high-fiber grass; somewhat processed food, or cud, is spewed to again be bitten and gulped, a procedure that possesses dairy animals for as long as eight hours per day. The feed given to cows on dairy ranches, nonetheless, doesn't fit this procedure and is accordingly hard for them to process, messing wellbeing up. What's more, the utilization of high-protein slims down on the grounds that they contain creature protein, including, previously, tissue from ailing dairy animals has been involved in the multiplication of distraught bovine illness. Another instrument to build milk yield is the utilization of the hereditarily designed development hormone rBGH (recombinant cow-like development hormone). This hormone adds to a normal milk prouction of 100 pounds of milk for every bovine every day, 10 fold the amount of milk as a calf would require. Keeping up such high creation for such an unnatural time span debilitates the cows bodies and drains them healthfully to such an extent, that even the healthfully thick feed can't redress. Overflowing milk creation causes cowsbones to turn out to be seriously inadequate in calcium. They in this manner become inclined to crack, and the outcome is a sharp increment in the quantity of ? claimed? dairy animals, or ? killjoys,? a general term for homestead and food creatures who breakdown, unfit to stand up once more, and must be crushed. The utilization of rBGH causes different major issues, including incessant mastitis (an agonizing bacterial disease and growing of the udder), which is ide ntified with overproduction of milk. To treat diseases and help forestall them, dairy cultivates routinely direct anti-microbials to their bovines. Anti-infection agents and rBGH discover their way into the milk that people drink. It is realized that the abuse of anti-toxins, including routine safeguard use, supports the advancement of anti-infection safe strains of microscopic organisms. Also, milk from dairy animals given rBGH shows an expanded nearness of IGF-1, an insulin-like development factor, which has been appeared to cause malignancy in people. The measure of IGF-1 present in milk delivered by bovines given rBGH is two to multiple times that in non-rGBH milk. The U. S. Food and Drug Administration, which is answerable for managing the utilization of such enhancements, has permitted the utilization of rBGH as well as would not permit the marking of milk to exhort buyers that it contains the hormone. The United States is the main industrialized country that allows the utilization of development hormone in creatures utilized for food. How dairy cows are housed In 2001 in excess of 75 percent of dairy cows had no entrance to pasture. Dairy animals in numerous dairies are housed in a blend of outside and indoor offices, for example, sheds, open air soil corrals, and slow down horse shelters that might not approach the outdoors and where cows might be tied up or in any case controlled for extensive stretches of time. Bovines who are controlled in slows down give indications of worry from social detachment and the failure to rests; further, they are probably going to create nipple and skin wounds, weakness, and defenselessness to an assortment of illnesses. In the course of the most recent couple of decades, agribusiness dairies have encountered incredible development in the southwestern United States, which has a totally different atmosphere from the country’s customary dairy-delivering districts, including New England and the Midwest. The Southwest doesn't have spreads of field, and most dairy steers there are housed in unpaved earth parts, or drylots. The lacking surface of such parcels is challenging for the bovines and causes visit weakness. Drylots offer lacking security from the components, and overwhelming downpours make layers of mud and fertilizer a few inches thick, regularly making it troublesome or outlandish for the cows to walk or rests on a dry surface, which dairy specialists perceive as a wellbeing prerequisite for cows. Further, the populace thickness on earth feedlots will in general be extremely high. In the southern areas of California, one of the biggest dairy-delivering states, the normal number of cows per dairy was 800 to 1,000 in 2005aâ‚ ¬Ã¢â‚¬ more than multiple times higher than it was in 1972. High thickness makes it hard to look after sanitation, and dairy cows housed along these lines are liable to visit disease and contaminations. Natural dairies Unlike the sorry condition of most alleged unfenced? hicken offices, most of natural milk makers do treat their dairy animals well, giving access to pasture and appropriate feed, maintaining a strategic distance from development hormones, and sticking to moral principles. In any case, the development of the natural milk industry during the 1990s and the mid 2000s has pulled in the consideration of agribusinesses, whose longing to partake in this rewarding business sector has driven them to bargain natural measures and hall for the debaseme nt of such guidelines at the government level. As indicated by a 2006 report by the Cornucopia Institute, a homestead arrangement examine gathering, a portion of the countrys driving makers of milk, subsequent to entering the natural market, have endeavored to move their plant ranch dairying strategies to the creation of aâ‚ ¬? organicaâ‚ ¬? milk. The examination found that almost 20 percent of the natural brand milk on store racks was from makers following inadequate practices. Customers shoul

Why was Nelson Mandela important - Free Essay Example

On July 18,1918 Nelson Mandela was born, in Nvezo South Africa. He grew up in a village of Nvezo in Umtata the part of South Africa cape Drovince. Nelson Mandela live a normal life, he grew up with his 6 sisters and 3 brothers in there mother kraal in the village of Qunu where he spent much of his time playing outside with the other boys, his mother Noqaphi Nosekeni and his father Gadia Henry were illiterate. He really didnt get to have a relationship with his father because his dad died when he was nine year old do to lung disease. When he was nine Nelson Mandela mother send him to a local Methodist school later on he went to Heaidtown Comprenensive high school. Nobody in influenced him the ones that influenced was Mathatma Gandhi, Walter Sisuiu and Albert lutuli . Nelson has 3 wives, his First wife was Evelyn Mase since 1944-1958 who has 3 kids with gim 2 boys and 1 girl , his second wife was Winnie Mandela since 1958-1996 who had 2 girls with Nelson Mandela, his last wife was Graca Michel he was 80 years old when he was with her they didnt have kids together but all his wife played a big role in his life. Nelson Mandela changed life in South Africa, the freedom and equality he gave them is still going amongst the people hearts. He wrote 30 books but his most popular book he wrote was the long walk to freedom it was published in 1994 by little brown, he wrote the book when he was just 27 years old. Mandela received more than 260 awards over 40 years the most important award he received was the nobel peace prize in 1993 . He got all his strengths firm prison, Nelson personal mistake was starting a revolution that involved violence. He didnt like what he was doing so he was determined to change the life of South Africa for the better and to achieved his other goals. He did end up accomplishing many things in his long life , he became the president of South Africa after many year of hard work and patience he never gave up by making South Africa better again . Mandela was the world most admired and the most revered public figure he. Was a man of peace, he showed the world what forgiveness look like in South Africa, he was a positive, thinking white what he could do. South Africa said the only bad decisions that Nelson Mandela did when he retire for being president and he trusted that his successors were if quality. Unfortunately it all comes to a end Nelson Mandela passed away December 5,2013 do to a respiratory tract infection, people still keep his memory alive by celebrating his legacy with #mandeladay, a social media campaign to inspire positive change in our would. Luminaries like Barack Obama, Bill Clintons and Bill Gates are posting their memories of Mandela, along with their own take in the message that each person has the ability and responsibility to make positive difference in the world. Interesting fact about Nelson Mandela birth name Rolihlahla means to pull a beach of a tree and troublemaker.

5 Independent Presidents Who Won in U.S. History

Donald Trump has said he might run for president in 2016 as an independent if he doesnt get the respect or the nomination from Republicans. And if you think launching an independent presidential campaign is a fools errand — the chances of winning are infinitesimal — consider the impact Ralph Nader, Ross Perot and others like them have had on the electoral process.   What Is an Independent Candidate? The primary role of the independent candidate in modern politics is that of spoiler. And while spoiler is an unpopular role to play he is often able to leverage his position to curry favor for himself and friends. Trumps currency of choice seems to be attention, and as long as hes getting some its very likely the billionaire real estate developer might just blow enough of his own money to hang around through the 2016 general election. The question Republicans are asking is whether Trump would siphon off enough votes from the Republican presidential nominee so as to hand the presidency to the Democrats. Many conservatives had openly raised the theory that Donald Trump ran as an agent of the Democratic Party, and in particular the Clintons, so as to hand the White House to Hillary. So which independent presidential candidates have done the best? And how many votes did they pick up? Heres a look at the most successful independent presidential candidates in history and how they affected the results. Ross Perot The billionaire Texan Ross Perot won a startling 19 percent of the popular vote in the 1992 presidential election in what many believed was the beginning of a third party in American politics. Democrat Bill Clinton won the election and unseated Republican incumbent President George H.W. Bush, a rare defeat in American politics. Perot also won 6 percent of the popular vote in the 2006 election. Ralph Nader The consumer and environmental advocate Ralph Nader won nearly 3 percent of the popular vote in the close 2000 presidential election. Many observers, primarily Democrats, blame Nader for costing Vice President Al Gore the election against Republican nominee George W. Bush.   John B. Anderson Andersons name is one few Americans remember. But he won nearly 7 percent of the popular vote in the 1980 presidential election won by Republican Ronald Reagan, who pushed Democrat Jimmy Carter out of the White House after one term. Many people blamed Anderson for Carters loss. George Wallace In 1968 Wallace won 14 percent of the popular vote. Republican Richard Nixon defeated Democrat Hubert Humphrey in that election, but Wallaces showing was impressive for an American Independent.   Theodore Roosevelt Roosevelt won more than 27 percent of the vote in 1912 when he ran as a progressive candidate. He didnt win. But carrying a quarter of the vote is impressive, especially when you consider the Republican nominee, William Howard Taft, carried only 23 percent. Democrat Woodrow Wilson won with 42 percent of the vote.

Environmental Issues Learnt And Hypothetical Environmental...

Environmental issues learnt and hypothetical environmental leadership decisions xxxxxx xxxxx University of the People Word count 896 Abstract We reflect on environmental issues learned so far and what has been an influencing factor and has this shaped my attitude. The hypothetical scenario of implementing three programs to solve environmental problems, three stages for each program and what the programs will achieve is also discussed. Environmental issues learnt and hypothetical environmental leadership decisions Some key environmental issues covered so far are global warming, climate change, air pollution, water quality and quantity, ecosystems and global dimming. Some key statements have had a strong impact, these have been provided by the organisations NASA and the UN. The UN (2014) states that every year more people die from unsafe water than war and violence. The UN (2014) also states that an estimated 1.8 billion people will be in regions classified as water scarce by 2025. NASA (2014) make the statements â€Å"Greenland lost 150 to 250 cubic kilometers of ice per year between 2002 and 2006† and â€Å"Antarctica lost about 152 cubic kilometers of ice between 2002 and 2005† and â€Å"The oceans have absorbed much of this increased heat, with the top 700 meters of ocean showing warming of 0.302 degrees Fahrenheit since 1969†. This combined with other key messages backed up by scientifically collected data highlights the importance andShow MoreRelatedHrm Lecture N otes for Pu, Mba 2nd Semester9501 Words   |  39 Pagesthreats to organizations ability to perform †¢ Staff turnover rate, sickness absenteeism rate,etc. HRP Process Assessing current human resources - Human resource inventory, HRIS, Job analysis 2. 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Significance of Integrated Marketing-Free-Samples for Students

Question: Write a Report on Integrated Marketing Communications. Answer: Introduction Marketing communication is the process in which company adopts different communication tools and techniques to spread information from one place to another place. In contemporary scenario, all the business entities are focusing on diverse methodologies(Armstrong, Kotler, Harker, Brennan, 2015). Hence, it can be said that marketing communication is a complex procedure that aids the business entity to communicate a message with the customers regarding the availability of products and services. The present research study has been made on Woolworths which operates business as a retail entity in Australia. Further, in the study discussion has been included regarding the importance of marketing communication in IMC. Along with this, theoretical communication model is also discussed which helps the business entity in managing suitable communication among business and customers. Along with this, the researcher has the also discussed several strategies that can enhance communication capability of Woolworths. Lastly, in the study, recommendations are being stated to meet contemporary needs of the customers. Findings And Discussion Theoretical communication model Communication strategy holds huge value in transferring information from one person to another; hence to specify the attributes, theoretical a model is being stated which is being proposed by Belch et al. in the year 2014. The theory states that use of modern tools and techniques are increasing at a faster rate which also aids in sharing and communicating information(Belch Belch, 2014). The Internet is considered as the primary source that aids that the business entities to grab the attention of a larger number of customers towards existing products and services. Several external agencies are working in this domain wherein they play a crucial role in formulating effective strategies for the business in the area of communication. Along with this, use of external tools is also amending to transfer information to different customers at a time. This also showcases the importance of elements of promotional mix(Blakeman, 2014). Strategies such as direct marketing, personal selling, sales promotions and development of public relations aids the organizations to sustain in competitive market for longer span. Proper sharing of information helps the business entity to acquire greater market share and alongside it also contributes in meeting defined aim and objectives. Advertising is essential in attracting larger number of customers and it is also useful in generating awareness among customers regarding the availability of products and services. At the same time, it also includes the importance of direct marketing which immediately changes the purchase decision of customers(Belch G. E., Belch, Kerr, Powell, 2014). According to positive perception, purchase of product takes place. Moreover, sales promotion is yet another technique that is used to promote the products and also to encourage the customers to buy the product. Company also provides discounts and schemes to the customers so that to amend the ratio of sales and also to enhance the profitability ratio. In emerging market, organizations are focusing on building effective relations with the customers for the purpose of becoming highly customer oriented. Thus, considering the same, companies are emphasizing on developing strong public relations to satisfy the customers and also to retain them for longer time period. This not only facilitates repeat purchase, but also it leads to create competitive edge over the rivalries. Therefore, summing up it is evident that communication strategy of every business entity is different; however the tools are quite similar to use(Blakeman, 2014). Communication strategy states that advertising and promotional mediums are useful in terms of sharing information among customers in the best possible manner. Prior communicating information among the customers, it is essential for the business entity to show greater consideration towards the use of marketing channel. This will aid in communicating the message abruptly among the customers. At the same time, it can also work in enhancing customer base. To operate the business successfully in the market place, it is crucial for the organization to define communication objectives(Luxton, Reid, Mavondo, 2015). This can also aid in adopting suitable standards to attain organizational goals. In addition to this, the budget is vital to be developed so that resource allocation process can be managed in an optimum manner. Integrated marketing communication shows a link between promotional strategies and elements of the marketing mix; hence appropriate strategies should be utilized in the form of advertising the products and services(Thorson Moore, 2013). Hence, this can also enhance the performance of the business entity in external competitive m arket place. Analysis And Evaluation Importance of understanding communication in IMC Communication plays most important role in the organization as it is direct influences the purchase behavior of the target market and in turn, allows business to accomplish desired goals and objectives(Carroll, 2015). Further, it is one of the ultimate purposes of every company to communicate business information with its target market in an efficient manner with the motive to strengthen customer base. In short, without communication, the concept of Integrated Marketing Communication is of no use, and it directly acts as the challenge in accomplishing the desired objectives. It allows in building the positive perception of the firm in the mind of the target market and serves as the development tool(Schlinke Crain, 2013). Further, it is a well-known fact that every consumer may not perceive products of the enterprise positively and due to this reason, it is mandatory for the business to build the positive image with the help of effective communication strategy. The primary mode of communication takes into consideration advertising, social media, print media, etc. through which it becomes easy to share information with the customers(Ewing Ramaseshan, 2015). Selection of appropriate communication method through the selection of right channel allows the company in gaining the competitive edge, and in turn, all the challenges present in the external environment can be tackled quickly. In short, communication is considered as the key to success that enhances business performance in the market. In case if any organization does not focus on communication with its target market then customers will not be aware of the products and services offered in the market(Flors, 2014). In the modern era, the concept of social media as a communication tool has gained popularity where large numbers of businesses have adopted this tool so that customer base can be enhanced and along with this the most crucial information linked with products, services can be shared. Considering the case of Woolworths Ltd where organization believes the concept of Integrated marketing communication as most important. Further, business has employed a large number of strategies for sharing information linked with products with its valued customers. The central communication platform is the physical stores of the company which directly acts as the primary source of attraction. All sort of convenience and comfort are provided to the customers so that they are brand loyal towards the products. Moreover, direct marketing and customer email strategy concept have been undertaken through which proper communication with the target market takes place(Nirjar, Acharya, Ojha, 2014). Apart from this, social media channels are also conducted where products are promoted through the assistance of sales promotion strategies such as offering discount and another form of offers on the products. It allows in attracting a large number of customers and in turn sales revenue of the comp any increases through this(Saenko, Akhmetov, Mamatelashvili, Pismennaya, 2016). The market where Woolworths Ltd operates is highly challenging where significant challenges such as competition, political barriers, etc. have adversely affected the operations of the company. Therefore, this is the main reason for undertaking effective communication strategy for building the relationship with the customers and rendering high-quality products to the target market(Manser Payne, Peltier, Barger, 2017). Woolworth Limited approach to IMC The selected business enterprise is making use of various integrated marketing communication channels and tools. For example, it has adopted advertisement as a tool for carrying out marketing and promotion of its products and services. In simpler term, the advertisement can be described as a paid formed of non-personal communication. Woolworth Limited advertises its products and services on newspaper, television and online mediums. Furthermore, Woolworth limited is also considered as the top spenders in Australia in terms spending resources in the advertisement(Patti, Hartley, van Dessel, Baack, 2017). The rationale behind using advertisement as an integrated marketing communication tool is that it helps in communicating, interacting with people in the market and at the same time it results in enhancing the brand image and brand equity of Woolworth Limited. The retailer is also making use of communication tools such as social media to promote its different services and products. In last few years, social media has emerged as one of the biggest and most potential platforms for businesses regarding marketing products and services. The use of social media channels is carried out with a purpose to interact with customers and seek inputs from clients about the process of new product development(Percy, 2014). Other than this, the use of social media as a marketing communication tool support Woolworths limited in improving customer service and maintain a strong brand image in the marketplace. The increasing users of social media have helped Woolworths limited in finding out new customers and enhance the figure of sales and profitability. The marketing and promotion of product/services offered by Woolworths limited are carried out on social media platforms such as Instagram, Facebook, and Twitter. Social media is very cost effective regarding marketing communication tool, and therefore, it is contributing a lot to the overall success of the Australian retailer(Parente Strausbaugh-Hutchinson, 2014). Another form of internet marketing communication tool which has been used by the selected business enterprise is email. The brand has maintained an excellent strategy of emailing its customers at regular intervals. These emails help Woolworths limited to pass information to customers about new products, services, modification in existing products and arrival of new offers. Thus, emails play a crucial role in increasing the demand for the companys products and services among people in the market. Sometimes, the business also makes use of integrated marketing communication channels such as direct marketing to increase the existing figures of its sales and profitability. It can be stated that Woolworths limited approach towards IMC is quite efficient and it has supported the brand in accomplishing its short and long term business objectives(Provost, 2014). Communication tools such as direct marketing have helped Woolworths limited in finding out new customers and enhance its existing market share. The use of direct marketing has provided the organization with an opportunity to develop a list of new and potential prospects who can become future customers of the brand. Apart from this, the use of direct marketing has resulted in increasing the rate of up sell or repeat purchase(Royle Laing, 2014). It has supported the selected company in retaining its old customers in the best possible manner. On the contrary of this, it can be expressed that the best thing about Woolworth's limited approach to IMC is that it has developed the effective system of monitoring and the company carries out changes in its IMC strategy at regular intervals. Recommendation It can be recommended that Woolworths limited should focus on identifying its target audience before formulating marketing communication mix. The rationale behind this is that selection of target audience will support the retailer in the selection of appropriate and more practical tools and techniques of communication. Along with this, selection of target audience is also essential in defining factors such as what to communicate and when to communicate. It is suggested that the business enterprise should emphasize more on formulating the objectives and aim of communication. The reason behind this is that goals and aim will provide a clear cut direction to a company regarding where it should place its efforts and resources linked with communication. It can also be recommended that Woolworths limited should uncover its unique selling propositions and should display the same through marketing communication tools. It can be expressed that the use of unique selling proposition will support the organization in differentiating itself from the other players operating in the retail industry of Australia. In addition to this, it will give the clear reason to customers in terms of why they should prefer and purchase products offered by Woolworths limited. At the time of selecting and implementing the tools of marketing communication, it is required by Woolworths limited to ensure that the way in which messages are delivered to target audience remains consistent. It can be expressed that consistency in messaging will support in the development of Woolworths limited as a strong brand in the marketplace. From the overall analysis, it has been found that Woolworths Ltd more relies on advertising and another form of promotional tools. So it is recommended to an enterprise to focus on sales promotion strategies where offering discount on the continuous basis can allow in enhancing sales volume and can act as the main tool for the customer attraction. Therefore, sales promotion strategies must be integrated into the marketing plan. The overall survey must be carried out in the market with the motive to know whether the present communication strategies of a company are capable enough in sharing information linked with the products or not. Through this, it is possible to modify the current advertising modes. Time to time new information must be updated on the social media platform such as facebook where the different type of events can be organized through which customer involvement is possible. Highlighting the main advantages associated with purchasing the products of a company can surely be beneficial for the organization and in turn can act as the major source of competitive advantage. The concept of microblogging must be undertaken by the business through which short sentences that can be framed from a promotional point of view where short videos can be shared with the target market that can influence the purchase behavior of the target market. Conclusion From the above study, it can be inferred that integrated marketing communication provides businesses with a potential platform to interact with customers and identify their changing demand. In addition to this, the tools linked with IMC have supported Woolworths limited in creating awareness about its products and services in the market. The tools have also contributed a lot in creating demand among people in the marketplace. Integrated marketing communication is important because it helps business to gain the competitive advantage over the other market players operating in the industry. It can be inferred that the approach of Woolworths limited towards IMC is competent enough to accomplish its long term goals and objectives. References Armstrong, G., Kotler, P., Harker, M., Brennan, R. (2015). Marketing: an introduction. London: Pearson Education. Belch, E. G., Belch, A. M. (2014, February 10). Advertising and promotion: An integrated marketing communication perspective. Retrieved August 25, 2017, from Advertising and promotion: https://hfs1.duytan.edu.vn/upload/ebooks/5183.pdf Belch, G. E., Belch, M. A., Kerr, G. F., Powell, I. (2014). Advertising: An integrated marketing communication perspective. New York: McGraw-Hill Education. Blakeman, R. (2014). Integrated marketing communication: creative strategy from idea to implementation. Maryland: Rowman Littlefield. Carroll, C. E. (2015). The handbook of communication and corporate reputation . New Jersey: John Wiley Sons. Ewing, M. T., Ramaseshan, B. (2015). Integrated marketing communications: Conflicts of interest, politics and performance. Switzerland: Springer, Cham. Flors, L. (2014). From 360 communication to integrated marketing communication. In How to Measure Digital Marketing. London: Palgrave Macmillan UK. Luxton, S., Reid, M., Mavondo, F. (2015). Integrated marketing communication capability and brand performance. Journal of Advertising , 37-46. Manser Payne, E., Peltier, J., Barger, V. A. (2017). Omni-channel marketing, integrated marketing communications, and consumer engagement: a research agenda. Journal of Research in Interactive Marketing . Nirjar, A., Acharya, M., Ojha, D. (2014). Integrated Marketing Communication in Government Programmes: A Look at Rural Development Programmes in India. Metamorphosis , 1-15. Parente, D., Strausbaugh-Hutchinson, K. (2014). Advertising campaign strategy: A guide to marketing communication plans. Massachusetts: Cengage Learning. Patti, C. H., Hartley, S. W., van Dessel, M. M., Baack, D. W. (2017). Improving integrated marketing communications practices: a comparison of objectives and results. Journal of Marketing communications , 351-370. Percy, L. (2014). Strategic integrated marketing communications. Abingdon: Routledge. Provost, P. (2014, May 5). 7 Steps to Develop an Effective Marketing Communications Strategy. Retrieved August 25, 2017, from 6P marketing: https://www.6pmarketing.com/articles/branding-science/72-marketing-strategy/359-7-steps-to-develop-an-effective-marketing-communications-strategy Royle, J., Laing, A. (2014). The digital marketing skills gap: Developing a Digital Marketer Model for the communication industries. International Journal of Information Management , 65-73. Saenko, N. R., Akhmetov, I. V., Mamatelashvili, O. V., Pismennaya, E. E. (2016). Research in action integrated marketing communications as the elements of information and virtualization market relations. International review of management and marketing . Schlinke, J., Crain, S. (2013). Social media from an integrated marketing and compliance perspective. Journal of Financial Service Professionals . Thorson, E., Moore, J. (2013). Integrated communication: Synergy of persuasive voices. Abingdon: Psychology Press

MARKETING PLAN

Trek is a worldwide company which was established in 1979. When Trek was established, it had a simple mission, that is, to build the best bikes in the world (Trek Bicycle Corporation, 2012).Advertising We will write a custom report sample on Marketing Plan specifically for you for only $16.05 $11/page Learn More Portfolio Analysis Product Life Cycle (PLC) Trek products have undergone four stages in their life cycle namely introduction, growth, maturity and decline. Under the introduction stage, Trek’s products were first sold in US before the company expanded its market to England (Johnson, 2008). Under the growth stage, Trek expanded its market such that in 2005, Trek bikes were available in over 90 countries via 10 subsidiaries and around 70 distributors (Johnson, 2008). During this stage, the company moved from producing only mountain bikes to producing a variety of products like road bikes as well as town bikes. In the maturity stage, Trek pro ducts have become available worldwide even through the internet. In this stage, Trek products have become customer oriented through the Project One custom build program (Johnson, 2008). This enables customers to select their own features to be applied in making their bikes. Trek products are yet to undergo the decline stage and are still under maturity. BCG Matrix Adapted from:  http://www.netmba.com/strategy/matrix/bcg/ Under the BCG matrix, there are four sections which include; stars, cash cows, dogs and question marks. This section shows different combinations of both market growth rate and relative market share. Trek’s products in the BSG matrix, fall in different sections. The mountain bikes fall under the star section as they have both high market growth rate and high relative market share. The road bikes fall under the cash cows section with low growth rate but relative market share. Collections which include women’s bikes fall under the BSG dogs section a s they have both low market growth rate and low relative market share. The town bikes fall under the section of question marks because of their high market growth rate and low relative market share. This portfolio analysis shows how different Trek’s products are faring in the market.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More SWOT Analysis Trek has established itself in producing high quality products which is one of its strengths (Griffin, 2011). The company has other strengths, weaknesses, opportunities, and threats. This company’s SWOT analysis is summarized in a grid format below. Strengths Trek’s Advanced Components Group is dedicated in ensuring it offers innovative and quality products (Johnson, 2008). Trek dynamic partnerships with organizations such as Bikes Belong and Bikes around the Community to ensure greater good (Johnson, 2008). Trek passion for bicycle industry which is evident as it actively promotes new regulation (Johnson, 2008). Weaknesses Lack of customer demographics as it is unaware of its core consumers (Johnson, 2008). Trek is too aggressive with their management as it tries not to compromise its great brand equity (Johnson, 2008). Trek has failed to produce a variety of products to exploit a larger range of customers (Johnson, 2008). Opportunities Bicycles becoming preferred mode of transportation with rising cost of gas and the upcoming of the Green Movement (Johnson, 2008). Aging population turning to cycling as a way to stay physically active to avoid poor health (Johnson, 2008). The launch of Go By Bike challenge has increased use of Trek bikes for short distances (Johnson, 2008). Threats Japan’s introduction of innovative and highly technological advanced products in the bike industry (Johnson, 2008). The rise of commodity prices due to the economy and the cost of materials (Johnson, 2008) . Competing prices from competitors like Specialized Bicycle Components (Johnson, 2008). Competitors With Trek operating worldwide, it faces great competition from other companies in the bike industry. The greatest competitors include; Giant Manufacturing, Specialized Bicycle Components, Electra Bicycle and Schwinn Bicycle Company (Johnson, 2008). Giant Manufacturing has established good marketing of their products all over the world. This has been possible through advertising mostly through promotions and tournaments. This has created a big name with brand recognition in the world. The company has a variety of products to suit different needs of different categories of their consumers. The company enhances its distribution through use of bike dealers and local retailers. Specialized Bicycle Components has developed from producing only mountain bikes to also producing road bikes. The company has established itself with the introduction of Stumpjumper in both mountain and road b ikes. The company has established a strong market hold through its production of cutting-edge bicycle products. The company has intensified its distribution through use of sporting good stores and discount retailers as a way of reaching new customers (Jobber, 2010). Electra Bicycle is another Trek’s big competitor with its bikes guaranteed to be creative ones. The company’s success has greatly been influenced by production of cruiser bicycles which were America’s standard bike in early 1930’s. The company has applied innovation in combining modern bike styles with that of cruisers. This use of old school looks with contemporary technology to produce cruiser bikes has led to the company’s significant growth. On the other hand, Schwinn Bicycle Company has remained successful as a cheap entry-level bike as its brand has been around longer as compared to other competing companies. The company was associated with production of quality bikes but this has changed. The company has been unable to produce quality bikes but still have an upper-level lineup. With the idea of poor quality products among consumers, the company’s market share has decreased significantly. The company still has the opportunity to capture some of the lost market share through use of the new line of bikes it has introduced. This will only be possible if the company markets them correctly (Svend, 2006).Advertising We will write a custom report sample on Marketing Plan specifically for you for only $16.05 $11/page Learn More Though Trek is a faced with high competition from its competitors it is still faring well worldwide due to its competitive advantage. Through its production of quality and innovative products which are customer oriented, Trek has become the best not only to bikers but even to non-bikers. This has been as a result of its constant quest for innovation in the maturity stage and across regions (Kolter, and Arm strong, 2010). Four key issues One of the key issues the company should address is how to maintain and increase the market share of current products. This is because the company has a weakness of forecasting and reacting to demand. This is because this weakness under Ansoff Growth matrix calls for market penetration. Another issue which Trek should consider is how to come up with new products through product development to solve its weakness of lack of a variety of products (Cooper, and Lane, 1997). Another issue to consider should be which technology to be applied in order to ensure production of products which compete with those from Japan and which promote Green Movement. The fourth issue which the company should consider is how to restructure a mature market through driving out competitors (Kumar, 2010). This according to Ansoff Growth matrix will enable market penetration. According to Ansoff‘s Growth matrix, the company should undertake market product development as it s growth strategy (Bachmeier, 2009). This is because under the PLC analysis the company is under the maturity stage. Under this stage, though the company has introduced new products like road bikes and town bikes, more innovative products are required under collections. In the BCG matrix the collections are under the question mark section as they have high market growth but low market relative share. This means that the company needs to come up with new innovative and technologically advanced products under collections as a way of product development (Doyle and Stern, 2006). References Bachmeier, K., 2009. Analysis of Marketing Strategies Used by PepsiCo Based on Ansoff’s Theory. Norderstedt: GRIN Verlag.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Cooper, J., Lane, P., 1997. Practical Marketing Planning. Athens: Macmillan. Doyle, P., Stern, P., 2006. Marketing management and strategy. New York: Financial Times Prentice Hall. Griffin, R., 2011. Fundamentals of Management. New York: Cengage Learning. Jobber, D., 2010. Principles and Practice of Marketing. New York: McGraw-Hill Education. Johnson, S., 2008. Trek Bicycle Corporation: Situation Analysis. Web. Kolter, P., Armstrong, G., 2010. Principles of Marketing. New York: Pearson. Kumar, D., 2010. Enterprise Growth Strategy: Vision, Planning and Execution. Farnham: Gower Publishing, Ltd. Svend, H., 2006. Marketing planning: a global perspective. New York: McGraw-Hill Education. Trek Bicycle Corporation, 2012. We believe in a better world. Web. This report on Marketing Plan was written and submitted by user Lindsey Goff to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here. Marketing Plan Terms of reference The business plan is to start Acme consulting Services Company that provides consultancy services to companies which deal in the production of hardware and software products to become competitive in the current and new markets by identifying effective distribution channels to reach local and international markets and to increase the market shares.Advertising We will write a custom report sample on Marketing Plan – Acme Consulting Services Company specifically for you for only $16.05 $11/page Learn More Executive summary This is a business plan for Acme consulting Services Company that aims to offer consultancy services to corporate entities like IBM in the computer hardware and software industry. The services include identifying new market opportunities and hardware and software distribution channels that could be cost effective and assure higher returns on investments. To determine the feasibility of the business plan, the auth or conducted a comprehensive analysis of the macro and micro business environments, a SWOT and PESTEL analyses to evaluate the different marketing environments. Porter’s five forces were used to determine the role the forces play in the market to help formulate an effective business strategy and the most appropriate approach to control the business and ensure success. Business Mission Acme consulting company’s business mission is to provide high quality professional marketing consultancy services for computer hardware and software manufacturers. Political factors Here, computer hardware and software and related electronic devices are sold under the â€Å"copyright, patent, trademark, and trade secret laws and the licensing of rights in software subject to contract law, bankruptcy law, and antitrust (competition) laws† (Neubauer Meinhold 2012, p.3). Economic Factors Computer technology is one of the largest employers in the UK’s job market that has experi enced rapid growth and enables companies to increase productivity in different sector of the economies of many countries (Knox, Agnew McCarthy 2014). For instance, Intel’s cumulative economic impact showed an increase of â€Å"44,800 jobs in 2008 to 53,200 in 2012, with a $39.4 billion in wages and salaries and benefits and a contribution of $120.7 billion to the GDP of the UK (Knox, Agnew McCarthy 2014). The direct impact on the economy includes job creation, increase in GDP and availability of labor as shown in figure 1.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Figure 1: Intel benefits (Keller Yeaple 2009) Statics show that the price of computer hardware and software decreased by 67% between 2002 and 2007 and a 40.3% decline in the price of semiconductors† (Keller Yeaple 2009). However, the current business plan is justified because a decrease in price stimulate s demand for hardware and software products in the international market leading to higher profits that translates to increased service turnover. Microenvironment Market According to Duke and Tucker (2007), the consultancy services offered by Acme targets high technology computer hardware and software product manufacturers intending to increase their market shares in the United States and European markets. The potential customers include executives from large corporations, sales representatives and general managers charged with the responsibility of creating and expanding local and international markets for the software and hardware products (Singh, Veron-Jackson Cullinane 2008). Acme provides solutions for market access problems experience by large corporations using the company’s consultancy services by enabling the companies to avoid investing in high risk markets to reduce the cost of hiring new staff (Zou Cavusgil 2002). Internal Marketing Audit The internal market audi t was conducted to determine the strengths and resources required to make the company competitive in the market. According to Kotler and Armstrong (2013), skilled manpower is important for a company to be successful and based that argument, Acme has hired 5 skilled personnel with supply chain and marketing management skill and content publishing on the company’s websites.Advertising We will write a custom report sample on Marketing Plan – Acme Consulting Services Company specifically for you for only $16.05 $11/page Learn More The new workers have knowledge and contacts of customers across a large network of customers across the world (Wei 2010). Acme consultancy has a disciplined workforce employed on a permanent terms of services. In addition, the company has an efficient marketing team who are well trained marketing strategies and relationship management (Morgan, Vorhies Mason 2009). According to Zou and Cavusgil (2002), a critical eva luation of the approaches used to interface with the customers recommends Acme consultancy services to coordinate the communication function to achieve the communication goals effectively (Pride 2008). When seeking for clarification on issues, the company has specialised personnel who interact with the clients by updating the client on issues that might arise in the market. A critical analysis of the company’s performance between 2010 and 2014 shows a 10% increase of profits in the first year and an increase in demand for the consultancy services (Piercy Morgan 1994). The strategic issues that were considered in the study include cost leadership, cost focus, differentiation focus, and differentiation of the services. The cost leadership strategy is based on the lowest prices that Acme offers and uses for competitive advantage in the current market (Helms Nixon 2010). Most of the competitors offer high prices as compared with lower prices offered by the Acme consultancy Comp any. However, by combining good pricing, focus on service provision, and market segmentation and the operational strength of the company in the current market, an overall balance of the generic factors that puts the company in the middle of the rectangle is achieved (Roger 2010). Operating results The expected turnover from the consultancy services is expected to increase by 20% in the first year and increase by 20% per year for the next two years before achieving a 50% increase in 5 years. The estimates are based on the size of the market, the company’s competitive advantage over rival companies that offer similar services in the industry. Strategic Issues analysis An analysis of the service provision industry shows that most of the industry players lack the competencies of skilled consultants who can advise them in the distribution of software and hardware products in the market (Filip 2012). The gap provides a significant opportunity for Acme to fill by making an investmen t in the industry to generate revenue by addressing the gap in the industry.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More However, Acme faces the challenge of how to brand itself to be viewed as a risk free consultancy service provider to enable the large companies invests in the services and develop a positive risk appetite for the services provided by the company. Marketing Objectives To increase the volume of sales of the computer hardware and software products by 10 per cent in each market segment To increase the number of corporate entities seeking for Acme consultancy services on computer hardware and software distribution channels and market growth by 7% in each year’ To increase the revenue earned from the consultancy services by 5% of the current revenue generation in the next financial year. To increase the Internet presence of the Acme consultancy services in the Internet market by 20%. Market Segmentation Zou and Cavusgil (2002) contend that segmentation should be a strategic tool that enables a company to focus on the market and specialise in the provision of consultancy services. Here, the strategic market segments are the large corporation in the United Sates that include Apple, Microsoft, IBM and Hewlett-Packard that manufacture specialised computer hardware and software products. According to Tavitiyaman and Zhang (2011), Acme offers services by identifying the best supply chain channels and alternative companies to use to outsource their services. Core competencies The company has employed highly skilled and experienced personnel with over 10 years working experience in the industry. The employees have worked with many clients in the industry and many of their clients always remain loyal to them (Cole, Graves Cipkowski 2010). Competitive advantage The company has a strong brand image and many of the employees are experts with a lot of experience and knowledge in computer hardware, software, and marketing skills as added advantages. Positioning in the market The company will conduct a comprehensive market analysis by identifying the target customers who are the manufacturers of computer hardware and software in the UK and create a strong market positioning strategy shown below. Figure 2: Market positioning (Takano 2009) The figure shown above provides a market positioning model for the company to use to position itself in the market. The model shows the elements identified by customers, the points of reference, and the competitive frames to focus on when positioning the company ion the market. Portfolio Analysis Figure 3: Competitiveness (Sridhar 2010) The firm proposes to invest in the provision of consultancy services in the computer hardware and software industry to enable the firms benefiting from the services to identify the most profitable markets both locally and internationally. Marketing mix effectiveness The marketing mix consists of the product, price, place, and promotion components that are critical for the company’s success because promotions is conducted through social media websites to reach large audience of customers. Figure 4: Service marketing mix (Sridhar 2010) The elements to consider to be effective include processes, physical evidence of the location of the company and its infrastructure, the evidence of the links among different companies, promotional tools such as advertisements on the Internet, the people, the product being offered the services, the pricing, and the place (Internet). Marketing structures systems The company has a partnership with three partners who contributed financial resources to start the company. The business was not incorporated entity because the owner decided to have a sole proprietorship, but the terms of the business contract binding the three stakeholders together are drawn in an agreement that shows the binding terms and how to share the profits from the business. The agreement includes the roles of each stakeholder in the business. The company stakeholders hold monthly meetings to evaluate the performance of the business and create new strate gies when necessary. SWOT Analysis Strengths Service focused on effective distribution channels and new markets A balanced pricing strategy based on Porters generic strategies Strong brand recognition Weaknesses I. Lack of office branches in emerging markets Opportunities Increase in demand for new markets and efficient and cost effective distribution channels Threats New entrants Table 1: SWOT analysis (Sridhar 2010) The strengths of Acme consultancy services include effective and efficient distribution channels in existing and emerging markets for the large corporations to optimise to increase revenue, increase market share, and reduce by a significant amount the number of costly distribution channels and markets (Takano 2009). Marketing Objectives The objectives are based on the following suggestions: Employ a brand positioning strategy for IBM and other computer hardware and software products. Provide evidence to the prospective clients of the ability to identi fy new markets, optimise existing distribution channels, and create cost effective high response channels for their products. Strategic objectives An analysis of the current market needs shows that companies are in need of identifying cost effective distribution channels and Porter’s Five Forces Sridhar (2010) argues that the five forces model provides the baseline for the management of the company to analyse its business strategy and the level of competition to determine the attractiveness of the business. In context of Porter’s five forces’ framework, Acme applies its core competencies to generate revenue and profits that are above industry profits. According to Sridhar (2010), the framework is composed of five components which include the bargaining power of the entrants, the threat of new entrants, threat of substitutes, and the bargaining power of buyers as illustrated in table 1 below. Figure 5: Industry Rivalry (Sridhar 2010) Bargaining power of supplie rs Roger (2010) maintains that the concept of the bargaining power of suppliers is based on the ability of the customer to exert pressure on Acme consultancy Services Company adjust to prices to the needs of the customers’ buying or consuming the consultancy services. There are competitors that can offer the consultancy services on hardware and software product and identify cost effective distribution lines (Sridhar 2010). Threat of new entrants Sridhar (2010) provides a critical analysis of the consultancy industry in the computer software and hardware industry showing that increasing opportunities in the industry are likely to attract new entrants into the computer hardware and software consultancy services industry. Rao, Agarwal and Dahlhoff (2004) argue that the government policy, customer loyalty, brand equity, capital requirements, absolute cost, economies of scale cost advantage, and access to distribution channels make it more difficult for new entrants into the indus try. Threat of substitutes In theory, the threat of substitutes revolves around the propensity of the customers to switch to other companies offering similar services. According to Rao, Agarwal and Dahlhoff (2004), the potential factors Acme has evaluated include the switching costs, ease of substitution, quality depreciation, the relative performance of the substitute companies, number of companies offering substitute services in the market, and the perceived level of services differentiation to formulate a strategy to address the threat of substitutes. The overall conclusion is that the threat of substitutes is low. Bargaining power of buyers The bargaining power of buyers is based on the concepts of buyer concentration where the number consumers of the services offered by Acme consultancy services determine the degree of dependence of the firm on the buyers. According to Sridhar (2010), the availability of information of the services and the companies that offer similar services, the price sensitivity of the company that are receiving the services from Acme consultancies, and the buyer bargaining leverage contribute to the strategic approach the company will make to ensure that the company addresses the concern of buyer powers to lock in the customers. Industry Rivalry Sridhar (2010) argues that competitive rivalry is a situation where different firms operating in the same industry offering similar services compete for the available market. The degree of transparency in the provision of the consultancy services by other firms is high. Morgan, Vorhies and Mason (2009) contend that the presence of firms on the Internet is high and that has increased the competition from the firms offering consultancy services. However, to address issues related to industry rivalry, the firm’s strategy is based on the powerful competitive strategy to address the rivalry in the industry (Sridhar 2010). PESTEL The Political, Economic, Social and Technological analysis (PE STEL) referred to as PESTEL are macro-economic forces that could have a potential effect on the operations of Acme consultancy Services Company (Tuten 2009). Political The company will operate in countries with political stability where copyright laws cannot be violated (Ho 2014). Economic The economies of the current and target markets suffered the global economic crisis but they have recovered and the demand for computer hardware and software products is on the rise (Kotabe Helsen 2014). Social The social factors in the current and target markets include the aspects of health, culture, attitude and emphasis on safety, and the market demand for the use of the computer hardware and software products (Yà ¼ksel 2012). Technological The technological aspect include the rapid changes in technology and the need adapt to the changes. The study shows that the corporate entities in the business are sensitive to the rapid changes in computer technology and the provision of products that ar e up to date and latest in the market (Yà ¼ksel 2012). Legal environment The legal environment allows for freedom of association in many countries the company intend to take its operations (Neubauer Meinhold 2012). Core strategies The core business strategy will be based on pricing the services being offered by the company to ensure that the customers are offered services at competitive prices compared to those offered by competing firms. In addition, the market research reports will be priced at $ 5,000 and each consultancy service will be priced at $ 2000 per day and $ 10, 000 per month for the service providers that are retained and giving daily services for a full moth (Kotler 2011). The sales strategy is defined by information on the project, retailer, market research, and strategy reports. In addition, the core elements that define the strategy include a good pricing mechanism using social media and communication channels for promotional purposes. According to Thackeray, Nei ger, Hanson and McKenzie (2008), the place strategy consists of the use of a website to host details about the services on offer, the people consists of the challenges facing the corporations, the product consists of the services tailored for each company, and the process consists of the procedures necessary to develop excellent consultancy services (Van Zee 2009). Target markets The target markets will include the United States, the UK, Latin America, and the third worlds countries markets that are emerging and growing quickly. Competitor targets The competitor target is DSofware that is now offering consultancy services at exorbitant prices that has weakened its position in the market, lowering its competitiveness in the market (Uzama 2009). Competitive advantage use of skilled and experienced staff.  Establishment of many links with many companies in the local and international markets. Marketing Mix Decisions Description Product Marketing research that provides detailed a nalysis of the market intelligence reports on the performance of other companies. Price Compare and determine the right pricing strategies People The employees are equipped with the right skills to offer the consultancy services required in the computer hardware and software industry. Promotion Promotion will be done on the Internet, social media, brochures, and other communication platforms. Distribution The distribution channels include the use of media to reach different companies in need of the service offered by the company. Table 2: Marketing mix (Kotler Armstrong 2013) The table shows the marketing decision mix elements of distribution, price, promotion, people, and product that the company will consider when making the decision to offer consultancy services for the corporate entities in the computer hardware and software industry (Thackeray et al. 2008). Budget Details $ Startup expenses Legal fees 1,000 Insurance 5,00 Consultancy 250 Stationery 500 Brochures 500 Expense equipment 4000 Total 6750 Starting assets Current Assets 5000 Cash at hand 15000 Total 20,000 Long term assets Funding sources 5000 Shareholder A 2500 Shareholder B 2500 Total 10,000 Liabilities Borrowings 2500 Account payable 10,000 Total 12,500 Total liabilities and capital 49, 250 Table 3: Budget (Author 2014) The budget is subject to revision depending on changes that might occur in the market and people who may show interest to become share shareholders. Organisation and Implementation Regular meetings are held with the employees under the leadership of the organisational manager to on a weekly basis to evaluate the success of the company and the problems and challenges the company faces in the provision of consultancy services (Terrados, Almonacid Hontoria 2007). In addition, the management evaluates the performance of the employees of the company and to formulate new motivation and strategies to remai n competitive in the market. Control To determine the success of the marketing plan, the firm will engage in a comprehensive evaluation and control process (Zou Cavusgil 2002). Various parameters will be utilized in determining the success of the marketing plan. Firstly, the firm will analyze its sales revenue in order to determine the percentage change. The margin of change obtained from the analysis will enable the firm to determine the effectiveness of its marketing strategies (Goi 2009). Reflexive Account Before I wrote this business plan, I used to think that it was an easy task. However, when I started to write the business plan, I realised how important it was to read widely on different areas that contribute to a comprehensive business plan (Westwood 2013). For the first time I was able to read be informed of the need to identify the core elements of a business plan stating with the mission statement that provides the purpose or the reason for the existence of the company. I came across many business plans that have been prepared by different authors on the Internet and I noted that conducting an audit of the internal and external market environment was a preliminary and important step in the right direction in determining the feasibility of the plan. The political and economic factors of the macro environment were fundamental in determining the viability of doing business in different environments. A study of the micro environment was done by analysing target market segments to tailor the services according to the needs and expectations of the customers using the business plan. One of the areas of critical importance to the study is Porter’s five forces in the market. The five forces provide the company with the ability to analyse its business strategy by determining the impact of the five forces on its overall strategy. I was able to identify the competitors and the effects they could have on the company’s business strategy and that en ables me to revise the strategy to ensure that the results were according to the business goals and objectives. The main forces were the rivalry in the services industry that consists of the threat of new entrants, threat of substitutes, bargaining power of suppliers, and the bargaining power of the buyers. The most important element here was to translate the academic practices and knowledge into the real world business environment.  As I continued with the study by putting the business plan elements together, I realised that adding a SWOT analysis to the competitive framework of the company, I was able to determine the strengths of the company, its weaknesses, the market opportunities, and the threats from new entrants into the industry and the strategic methods to address the weaknesses and threats of the new entrants. SWOT was important because I was able to identify the key strengths and optimise them to exploit the weaknesses of the competitors to penetrate the market and inc rease revenue from the services being offered by the company. Using the SWOT and the PESTEL analyses by combining the results from the study, I was able to decide on the best methods to use to achieve the business objectives I had set down and the core strategies to pursue using the current budget I had drawn. 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