Tuesday, May 26, 2020
Custom Term Paper For Your TopicThe concept of custom term paper is very simple. You can customize your term paper by adding a personal touch to it. By doing this, you will be able to make your term paper look more unique and appealing to the readers of your term paper.Customizing your term paper will cost you some money. Some may argue that it is not a good investment because they have to spend money every year in order to keep their term paper fresh. There are also times when you are not sure how to go about customizing your term paper. In these cases, it is always best to consult with your advisor or your college book editor. Since the topic for your term paper is determined by your adviser, he or she will know exactly what it is that you should write about and you will not need to spend a lot of time customizing your term paper.At the time of creating your term paper, do not forget to consider the exact keyword phrases and keywords that are used by your audience. When you are wri ting an article for your term paper, you should keep the audience in mind. In this way, you will be able to build the specific theme for your article. One of the most important keywords that you should put in your term paper is about your subject matter. This will allow your audience to focus on the main focus of your article and will help in creating interest for your subject matter.Another thing that you can consider when using custom keyword phrases in your term paper is your keywords and your niche. If you have one or two keywords that you think are going to help in generating interest in your topic, do not forget to add them to your custom keyword phrases. Do not forget to put the keywords that relate to your niche or topic in between your customized keyword phrases. Adding the keywords within the theme will make your article more focused and will give it a better effect to the audience.Write your article according to the target audience. If you write for students, you should n ot mention too much in your topic. Your target audience may be busy studying and therefore do not want to read things that are not related to their lives. In this case, use verbs in your articles. However, do not overdo it and add too many verbs in your articles so that your audience will get confused about what you are trying to say.Remember to go through your articles and write what will serve the targeted audience. Keep it to a single sentence. If you have to, keep to a single paragraph. This will make your content much more interesting. It will also save you time since you are not having to write a whole page just to get your point across.Do not make your term paper too elaborate or too complicated. Always remember that your readers are busy people and they do not want too much information in their term paper. Do not make your term paper too long or too complicated because it will not allow them to digest it.
Friday, May 15, 2020
Sample details Pages: 17 Words: 4998 Downloads: 6 Date added: 2017/09/25 Category Advertising Essay Type Argumentative essay Did you like this example? Pharmasim Simulation Rough Draft Marketing 301-003, Professor Jamir Savla Group 2: Rachel Tzapp, Anora Suber, Narissa Suber, Rupal Amin TABLE OF CONTENTS Mission StatementÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦.. 3 Marketing StrategiesÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦.. 3 S. W. O. T. Analysis StrengthsÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦ Ã¢â¬ ¦5 WeaknessesÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦. 7 Figure 1, BCG Matrix.. Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦8 OpportunitiesÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦. 9 ThreatsÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦.. 10 Marketing ActivitiesÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦11 Figure 2, Pricing GraphÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦. Ã¢â¬ ¦. 14 Figure 3, Advertising Budget GraphÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦. Ã¢â¬ ¦Ã¢â¬ ¦. 15 Lessons LearnedÃ¢â¬ ¦ Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦ Ã¢â¬ ¦17 Mission Statement: Allstar BrandsÃ¢â¬â¢ over-the-counter cold and allergy remedy Allround will continue to be a leader in the market for over-the-counter cold medicines, and will remain competitive in stock price among our other companies within a ten year span of operations. This goal will be accomplished through the careful surveillance of our top competitors, as well as through strategic planning to evolve our product to suit the desires and needs of consumers. The branding team will control the financial growth of our product by implementing cautious pricing and promotion strategies, while increasing our distribution to where our consumers will be most likely to purchase it. Marketing Strategies: Ã¢â¬ ¢ Objective #1: Increase the stock price by 5% each year until 100% overall increase o Thr ough effective advertising and promotions the consulting group desires to increase the stock price annually. Ã¢â¬ ¢ Objective #2: Increase loyal customers by 15% Through promotions and allowances it is desired to gain the loyalty of customers who have not yet made Allround purchases. Reminder advertising will be used to maintain the loyalty of consumers who have used the Allround brand in the past. Ã¢â¬ ¢ Objective #3: Increase sales by 50% by focusing on targeting a diverse consumer base o Target different audiences through the use of different advertising agencies. The management team believes that if it can diversify the market, the firm would receive more recognition from the public as a whole and therefore would have an advantage profitable for Allstar. Objective #4: To have greatest market share by 40% in the next 5 years o Through introducing and maintaining new products within 5 years. o If risk appears too great, budget left over for product introduction will be re-direct ed to the budget for promotion. Ã¢â¬ ¢ Objective #5: Keep up with changing environment of the market for the duration of the ten year period o Keeping up with the changing environment and competition so that product becomes the only inexpensive cure to its consumers. (e. g. nflation- change in price) Ã¢â¬ ¢ Objective #6: Increase brand awareness from 45 Ã¢â¬â 60 % in the next 2 Ã¢â¬â 3 years o Increase advertising and promotional allowances for the new products of the firm as well as decreasing advertising for past products and getting resources for the most efficient and practical medicine for the most common diseases. Ã¢â¬ ¢ Objective #7: To parallel changes in price to percentage changes rise of the rate of inflation o Prevent a price hike so as to stay relatively cheaper than our competitors without losing profit. Create an image of affordability for all consumers so as to attract members of various household incomes. Ã¢â¬ ¢ Objective #8: Maintain at least $1,000,000 i n the budget at the conclusion of every fiscal year o Since profit is typically negative or nonexistent throughout a productÃ¢â¬â¢s introduction, after this phase is complete cash on hand is crucial for having funds available to pay off any debt that may be incurred Strengths: Allstar is a well-known and nationally recognized company for pharmaceutical drugs. AllstarÃ¢â¬â¢s brand, Allround, is also a dominant force in the market as an over-the-counter cold and allergy medication. The cough serum is known for its ability to provide fast-acting relief with minimal side affects, such as drowsiness. While consumers seemed satisfied with the product overall, a major strength of the company was the knowledge that even though as leader in terms of market share, without continuous modification of the product this success would not continue. And so, through careful implementation on a marketing mix focused on product improvement, gradual rises in price, direction profits towards incre ased promotion, and changes in distribution channels as the market dictated, AllstarÃ¢â¬â¢s brand Allround remained a top competitor. All decisions made within the company by management were consumer-driven and thus feedback was utilized as efficiently and accurately as possible on a regular basis by purchasing the appropriate surveys. When considering any changes towards the chemical makeup on the product, the customerÃ¢â¬â¢s best interest was taken into account and this led to an early decision in the second year to remove alcohol as a main ingredient. In light that consumer feedback was a major component in the decision-making process, these results helped to guide the way throughout the entire experience. The management team was proven correct in the assumption that in the long run a strong attention to feedback was critical because our stock price continuously placed AllstarÃ¢â¬â¢s brand Allround as third among a lengthy list of competitors. In addition to consumer feedback, consumer patterns were carefully monitored. The productÃ¢â¬â¢s price was adjusted according to the varying inflation rate as the market and the consumers evolved. Allstar purchased pricing surveys at the beginning of ever fiscal year entitled Ã¢â¬Å"Trade OffsÃ¢â¬ so that the branding team could see where the price fell, as compared to those of its competitors, versus the rate of inflation. As inflation shot up through the years, until its rapid decline from 8. 5% to 6. 7% in the seventh year, the price increased steadily in increments between 2-7%. This cautious approach placed Allstar as one of the most affordable brands, thus strengthening sales on an annual basis. Promotion, as the most important focus of operations, was always appropriated the most funds from the annual budget. Even though most companies chose to reduce expenses by taking their business to a cheaper advertising agency, Allstar did not do so. The branding team never left Brewster to become a client of a less experienced and less expensive agency because it was clear that only the best in the field could provide the image that Allstar needed to remain competitive. The firm felt that this expense would pay itself off in sales because profitability in the long run was more important than saving money in the short run. A strength of the distribution plan established by the branding team mainly involved a shift to give deeper discounts and more inventory to grocery stores, and fewer discounts and less products to Independent and Chain Drugstores. These stores consistently decreased in sales where grocery stores remained fairly stable, even throughout the worst times on inflation. These choices helped the firm to maneuver its way through only those distribution channels which would perform best economically in the long run, rather than the short run. Weaknesses: A major weakness at Allstar was the rise in competition for market share that heated up just as the new brandin g team assembled itself. Rising competition from other brands kept created a constant battle to increase stock price without losing ethical grounds to unfair competition practices, as some companies engage in when threatened. Our biggest competitor, BestHelp, trailed us in market share after the first year; however, their companyÃ¢â¬â¢s share was growing at a faster rate than AllstarÃ¢â¬â¢s soon thereafter. The firmÃ¢â¬â¢s goal was to not only expand at a faster rate than BestHelp, but to control a majority of the market by the end of the ten year decision-making process. Thus, the drive to dominate the competition so ntensely caused management to lose focus at times which brought about weaknesses in our marketing mix, excluding any issues with the product itself. Our pricing at times could have been higher even though it was this low price which the consulting group believed that aided our sales. As it turns out, Allstar could still have remained the lowest and brought in good sales had it entered into the $6. 00 category sooner, as was done by the competition. Yet, the price did not hit that mark until the fifth year where it transitioned up 5% from $5. 72 to $6. 0, whereas the competitors had moved past that range by the third year. Even though Allstar did not experience a great loss, this could have prevented the firm from being attainting the highest stock price. Another possibility could have been that management did not move swiftly enough in the transitions between the stages of the product life cycle. In spite of the fact that we did move from Primary to Benefit to Comparison to Reminder stages according to where our product was in terms of profit and maturity, there was a stalling period between years 4 and 5. In the third year, the branding team moved 10% of the funds from both Comparison and Reminder to both Primary and Benefit in order to stay focused on the Introductory phase; we then remained stagnant until the sixth year. At that ti me, Primary advertising decreased by 10% and Reminder by 20% so that Benefit advertising encompassed 50% of the entire budget. Despite this being the correct move during a Cash Cow phase, as according to the BCG Matrix used as a model, this should have been done a year earlier. Allstar was already nearing the period where it would begin to decline, yet marketing decisions were temporarily not up to date to reflect this fact in terms of advertising budget allocation. Relative Market Share (cash generation) HighLow | | | |Stars |Question Marks | |[pic] [pic] | |Growth Ã¢â¬â (Benefit) |Introduction Ã¢â¬â (Primary) | | | | |Cash Cow |Dog | |[pic] [pic] | | | |[pic] | |Maturity Ã¢â¬â (Comparison) | | | |Decline Ã¢â¬â (Reminder) | Figure 1 illustrates the Boston Consulting Group Matrix which discusses the product life cycle. A weakness in the distribution plan was that aside from the astute assumption to emphasize grocery store sales, the branding team often neglected shift ing funds from other areas such as from indirect supporters like wholesalers. The team could have left less money in the final budget and given a deeper discount to wholesalers and merchandisers, yet there was a prevalent fear that showing less cash on hand would affect stockholdersÃ¢â¬â¢ confidence. Looking back this seems to be an error, since no cash was used towards any other product. Had Allstar launched another product during the seventh year, the accumulated savings would have been justified, yet this did not occur and so that money was not fully utilized. Nevertheless, all weaknesses having been said and analyzed, our branding team does not believe that ultimately these mistakes cost the firm too greatly in comparison to the success it experienced. Opportunities: As a leading competitor in the pharmaceutical market, there were many opportunities for Allstar to best market its brand Allround. At Allstar, the consultants considered any chance to meet demands not only a s an opportunity, but a personal duty to the consumers. There was a strong demand for a quick relief cough serum, non-drowsy formulas, and pleasant after-taste. Due to the demand for a quick relief cough serum so many other competitors penetrated the market in such a short period of time. As time progressed and scientific discoveries became more developed, consumers expected the cold and allergy market to provide more advanced formulas. It is true that better technology and more highly educated scientists became available to Allstar throughout this period of time. Hence, the firm took advantage of the growth in its knowledge pool and re-developed the formula to act as quickly as possible. The firmÃ¢â¬â¢s advertising Agency, Brewster, then used this edge to market Allround as an over-the-counter scientific breakthrough. In addition to quick relief, consumers also demanded cough serums that were non-drowsy since they felt that this would have an adverse affect on their daily live s. Reformulating our cough serum by dropping alcohol as an ingredient decreased drowsiness, and so we took this opportunity to shed positive light on our efforts to be a concerned friend of the consumers. Brewster noted to management that this was the best route to take because consumers are wary of big business in general, and so they must be approached warmly. By accommodating the consumers and developing the demanded non-drowsy formula, AllstarÃ¢â¬â¢s stock price rose to the third highest at the conclusion of that year. Another opportunity was satisfying the demand for quick relief, yet without our medication leaving behind an unpleasant taste. Thus, introducing a capsule that performs just as a cough serum would be equally effective, yet without the unpleasant taste. This advantage was something that the branding team had hoped to develop right away since most other companies had decided to, yet AllroundÃ¢â¬â¢s success on the shelves as a serum prevented us from launching additional products. The consultants reasoned that spending the money on a potentially successful medication did seem logical when the same medication in its liquid form was so well received by the public. Threats: AllstarÃ¢â¬â¢s brand Allround was constantly presented threats to its financial success. Allstar made every effort possible to reduce threats by focusing on strengths, while at the same time improving weaknesses and capitalizing on rational and defendable opportunities. Yet, inevitably particular issues in the daily and annual operations needed to be faced. One threat was consumer dissatisfaction with the unhealthy contents of cold and allergy products. The consumer concern about the ingredients of the cough serum posed a huge threat to AllstarÃ¢â¬â¢s success. The branding team placed a lot of stock into consumer feedback, which led to extensive research to improve the quality of the cough serum without affecting the productÃ¢â¬â¢s effectiveness. AllstarÃ¢â¬ â¢s scientists reassured management that eliminating alcohol would not weaken the productÃ¢â¬â¢s abilities and so to appease consumers we acted upon this suggestion. Another on-going threat was the level of control AllstarÃ¢â¬â¢s competitors had over the market share. The only way to alleviate this threat was to carefully consider each decision. One issue that persistently arose was whether or not to introduce a new product to our line. The branding team became apprehensive that other companies were having success due to income from multiple products. However, because the firm was consumer-driven, management trusted that as long as consumer demands were met, sales and market share would improve by focusing all attention on only one superior product. After all, it did not seem economically sound to sell many inferior medications as opposed to one that could be recognized as the consumerÃ¢â¬â¢s preference in that market. Marketing Activities: In order to achieve the first ma rketing objective of raising and maintaining a high stock price, Allstar followed the product life cycle and expended the appropriate amount of the budget to advertising and promotions of that product. For example, the first few years of the productÃ¢â¬â¢s life, the product was in the Introduction period and because of this most of the promotions and advertising budget went towards the Primary stage. The second stage of the productÃ¢â¬â¢s life was the Growth stage and so the budget was shifted in this stage to Benefit advertising in order to reflect growth. Hence, very little of the budget was placed in the Comparison portion, as well as the Reminder stage we had not yet reached. The third stage was the Maturity stage and during this stage all money was taken from the Primary part of promotion as well as a sharp decrease from Benefit advertising. The majority of the budget was focused on Comparison during the most profitable stage, and thus the firm continued to place no extr a fund towards Reminder. The final stage of the product life cycle is the Decline stage. During the ighth year the firm shifted to build up the Reminder portion of advertising and eventually had all of the funds within that category. The branding team shifted funds this way so that our many competitors would not distract consumers away from the Allround product. In order to achieve marketing objective 2, to increase customer loyalty, Allstar maintained a high quality product at an affordable price in the introduction period. The consultants then priced the product according to the market and inflation rates to ensure that the customers were getting the best product for a fair price. By adhering to the customer first, and looking out the firmÃ¢â¬â¢s their best interest, Allstar gained loyal customers and continued to gain new customers as well. In order to achieve marketing objective 3, to increase sales by focusing on growth of a diversified consumer base, Allstar had planned o n changing advertising agencies. However, considering that Allround was in the top three in stock pricing the first seven years of operation, AllroundÃ¢â¬â¢s management decided that the current marketing agency was doing a superb job in reaching a diversified crowd of consumers. Therefore, it was formulated that by remaining a loyal customer of Brewster Advertising Agency, the public would remain loyal customers of Allstar. This being said, the company expanded on its own due to strong and continuous customer support in sales. In order to achieve marketing objective 4, to control the greatest portion of market share, as previously stated Allstar remained a strong leader by minimizing risks. The firm did not make any rash decisions which would cause consumers to feel that they have been neglected. There were no moves to hikes prices simply because the market was suffering overall. There were also no moves to create any new products so that Allstar would not lose touch with its k eystone product, Allround. The branding team did not follow the introduction of new products, because of the sentiment that ultimately this would not increase overall profitability. Even though within ten years some companies are expected roll out new product, more successful ones do not. We benchmarked success giants within our field such as TylenolÃ ® to model how they stayed competitive. Even though the TylenolÃ ® brand serves many purposes, in their specific cold and allergy market they have reformulated the same exact medicine over several years. It is still cold and allergy medication, however they improved ingredients to become non-drowsy, nasal decongestant, multi-symptom, etc. And so even though it is still TylenolÃ ® Allergy Complete, it is one product that they modified until it became perfected by their standards. As a common practice, benchmarking has allowed many companies to model themselves after successful companies within their respective field. In the end the observations Allstar made, such as the one just described, provided insight that weak sales in many areas do not necessarily outperform strong sales in just one area. In order to achieve marketing objective 5, keeping up with the changing environment, Allstar had to monitor the competitionÃ¢â¬â¢s marketing mix as intensely as it did its own. When competitors increased their prices too drastically in comparison to the inflation rate, the firm remained more moderate. When competitors introduced more products into the market even though they had yet to dominate the market with their first product, Allstar opted to focus on only one product. During shifts in advertising tactics and agencies among the competition, the company remained steady in its relationship with Brewster. These examples of our behavior pattern as a company illustrated to our consumers that we are very secure. During insecure financial times, this made a huge difference in consumer perception and so Allround became a trusted product. [pic] Figure 2 illustrates the pricing pattern Allstar for the Allround product for a period of ten years. The outgoing branding consultants would strongly advise the next team to diligently monitor the inflation rate, the prices of similar products on the market, budget allocation patterns of other companies, and to above all remain focused on the long run when looking at short run return on investment. This will ensure that Allstar is serving the consumerÃ¢â¬â¢s needs at all times while still taking in profits. In order to achieve marketing objective 6, to increase brand awareness 45-60% by the third year at the latest, Allstar adjusted the advertising budget. Advertising was spent according to the stage that the product was in (introduction, growth, maturity, and decline) as modeled from the BCG Matrix, and also was proportional to the allotted budget for the year. As expenses and profits fluctuated, the numbers were adjusted accordingly without in creasing or decreasing more than $5,000,000 in any given year. Furthermore, brand awareness was perpetuated by increasing inventory and discounts in the stores that were selling the most of the Allround product. [pic] Figure 3 illustrates the fluctuation of funds used by Allstar to promote the Allround product. In order to achieve marketing objective 7, to parallel price changes by the percentage change of the rate of inflation, Allstar remained consistent in its pursuit to remain slightly above inflation. ManagementÃ¢â¬â¢s investment in pricing surveys allowed the branding team to ensure that AllroundÃ¢â¬â¢s price was moving just above the rate of inflation. The firmÃ¢â¬â¢s competitors were shown to increase their prices far above the percentage change between annual inflation increases and decreases. Allstar did not see this as a financially responsible practice. By doing so, Allstar would not only lose its affordable appeal to consumers, but it would also jeopardize sale s by posing such sudden increases. It became important to remember that while the rate of inflation could fluctuate throughout time, the price set at each decision meeting would be in effect for the entire year. From the eyes of the consumers, the branding team saw that people would have negative reactions to paying an entire dollar more one day for our product than they spent just the previous day. Since the inflation rate was at its peak from years four through seven, these decisions consisted of higher percentage increases in price than at other times. Typically the firm only increased annual price by 2%, however it jumped to a 5% increase for years four and five, and a 6% increase for year six. After a 2% year seven, to counteract the unordinary high increase of 7% from year six, inflation dropped. Eventually, in year nine inflation was predicted to be only 2%, which is an all-time low since the beginning of this project, and so a 2% price increase was decided. Another rea son that this change was particularly small was so that the outgoing branding team could see its affect on the $54. 50 stock price before handing down the project to another team. By allowing inflation to help dictate price changes, Allstar remained competitive without loss of profits and maintained a strong and steady stock price between the low to mid $50 range. The branding team recognizes that this is lower than the top competitorÃ¢â¬â¢s stock price of low to mid $80 range. Nonetheless, the firm did not experience dramatic increases and decreases in stock price, which can be seen as unstable to stock holders. The firm felt that it would be more securing to AllstarÃ¢â¬â¢s future if the stock price did not appear to radically change so that stock holders would not divest, even if this meant that it was not the highest. In order to achieve marketing objective 8, to always maintain at least $1,000,000 in the budget, Allstar restricted spending in various areas. Costs were con trolled by rarely discounting stores who did not receive at least 2,500 units of the product, by never increasing the advertising budget by a total of $10 million for the duration of ten years, and by limiting spending on indirect advertising such as trial sizes. The consultants felt that since distribution was centered around grocery stores and other mass merchandisers, then they were the ones who deserved a discount. Smaller distributors such as convenience stores did not have large stocks of Allround and its competitors, and their business was not focused on those sales; and so it was not necessary to provide extra incentive. During the rare times when they did receive any discounts, they were kept at a minimum between $500,000 and $1,000,000. In terms of the advertising budget increases, Allstar did acknowledge that promotion was key in generating sales. Thus, this element of AllstarÃ¢â¬â¢s marketing mix for the medication Allround was given the most money in increases ever y fiscal year. After the largest jump, $4,500,000 from $20,500,000 to $25,000,000 in year two, increases remained consistent of $1,000,000 a year and higher. Through this allotment Allstar was able to afford the most expensive advertising agency, Brewster, without spending all of the cash on hand. A final way in which Allstar retained a small amount of cash for the budget was by not overly promoting trial sizes and point of purchase versions of Allround. These were seen as commonplace in places such as convenience stores, yet those distributors do not represent areas where most sales are made. For this reason the branding team merely shifted money that was already in that budget so that trial sizes would receive the most of the allowance at $1,500,000. Other than that, this area did not seem vital and allowed small portions of cash to be saved for the small amount of budget of approximately $1,000,000 that Allstar held on to every year. Lessons Learned: Our team has learned th at not making significant changes on a yearly basis can hurt the overall performance of the company in the end. We monitored our competitors too closely and were basing most of our significant decisions on pricing parallel to their prices. This damaged our profits at the beginning of the third year when we incurred more financial responsibilities, but were not taking in more profits from our product than the year before. One particularly clever decision we made to counter this problem was to then raise the price and modify our product to remove alcohol. Consumer feedback informed us that this ingredient displeased consumers when using a cold medicine and so our sensitivity to their feedback improved our consumer relations. The branding team at Allstar defines consumer relations in terms of sales, and so the increase of goods sold indicated to this firm that consumers were please with our actions. Furthermore, our team expanded our distribution with the grocery store chains carryi ng our product. Given that they sold the greatest amounts of our product, we deducted our cost to them in bulk. As the consultants monitored the decrease in sales by minor vendors, such as convenience stores and independent drug stores, the reliance on grocery stores became greater. This proved to be a good choice since inflation rates were at all time highs during the productÃ¢â¬â¢s most profitable stage; and so consumers purchased most of their products at grocery stores where they knew the products would cost less. Although it may have been beneficial had we marketed more point of purchase versions, we believe that our profits would not have greatly increased from the minor income that would have resulted from such small revenue. Also, we did not want to deviate from marketing the form that most grocery stores sold, which is in the original package and with the original size. Our promotion pattern increased on a fairly regularly basis during each annual analysis. We knew tha t the more publicity that the Allround product received, the more commonplace the name and look of the medicine would be. We followed in suit of the BCG Matrix and moved funds from Primary to Benefit to Comparison to Reminder according to where we were in the productÃ¢â¬â¢s life cycle. Professionally, we practiced very safe increases here, and discontinued increasing after year nine. AllroundÃ¢â¬â¢s stock price declined nearly 17% that year and so only conservative spending was done in the last year of operations. The stock price then bounced back nearly 20% and so the group learned that over spending does not guarantee good sales. Unlike our competitors, we only had one product to support. This was regularly debated by all members of the branding team until the time passed in which a product could even be introduced. We have all learned that in order for major group decisions to work, that all members of the group must have equal input and must put in equal effort. At times, some members of the branding team focused only on one aspect of the marketing mix while the others focused on a completely different factor. It would have been best for all members to move through each step together, as a cohesive unit, so that everyone would feel pleased about the direction of the company. However, due to time constraints and personal interests, this is not what happened and there was brief tension over the issue that a new product was not rolled out. Therefore, more was learned by the group the actual emotional experience than from the financial setbacks. This too is also very important overall when marketing a product because the firm was not only marketing Allround, but it was marketing itself, Allstar. As the outgoing branding team, we understand the importance of an open line of communication to aid the new team in their transition. Ideally, we would like to always be available to these individuals. However, in reality this is not always possible and is especially not feasible in an industry that is expected to see rapid growth and change in products in the coming years. Thus, this places the effort into the hands of the new team. Upon our departure, we will orally convey to them our willingness to remain accessible to them, and we will provide typed copies of all pertinent contact information to every new member. In summation, we now know that the next team to take over this project should be aware that while it is always wise to monitor your competitors, it is never practical to duplicate their actions. This proved to be particularly true as companies moved out of the top three ranking while we remained consistent in our performance. In addition, we learned that taking too many risks is also not ise and so a steady pattern of decisions will best serve the interests of AllstarÃ¢â¬â¢s Brand Allround in the future. As a final note, the incoming branding team should begin the introduction of a new product as soon as they are comfo rtable in their roles. This is crucial for the firmÃ¢â¬â¢s place as a leader in the cold and allergy market, in light that the Allround product is now on the decline. It was this key area that kept the current branding team from accomplishing the Mission Statement in its entirety. All success and failures considered, the experience has been very enlightening and will be good experience for anyone who takes it on after our retirement. Market Growth Rate (cash usage) DonÃ¢â¬â¢t waste time! Our writers will create an original "Marketing and Branding" essay for you Create order
Wednesday, May 6, 2020
Effect of Technology on Communication Summary: this is a 6-page paper on the effects of technology and the WWW on culture, human and organizational values and communication. Introduction Have computers changed the life of the average man like electricity did centuries ago? Has it made a difference to his life or had an impact on the way that he lives? Could the common man with the average facilities in life coming off his average salary have been able to stay in touch with his people in far away lands? Would he have been able to do work that took ages to get done within a matter of seconds with all but a flick of his fingers? The average student with the average I.Q coming from the middle class home, would he have been able to accessÃ¢â¬ ¦show more contentÃ¢â¬ ¦This is going to be a debate for the future, one that could determine if the Internet has a future. The Internet, especially that portion known as the World Wide Web, has changed radically the way businesses interact with their customers and within their own infrastructure. It has completely altered the way conventional business organizations are run and now, managers and other personnel are attempting to reorganize their positions so that they can maintain their status within the virtual world.  Telecommuting is changing the way people workÃ as well as the interaction among employees, managers and workers back at the office. Peter Drucker called it moving work to where people are, rather than people to where the work is. Information technologies are playing a key role in enabling people to work at a distance from a central conventional office.  In telecommutingÃ¢â¬âwork is carried out in a location that is remote from central offices or production facilities, where the worker has no personal contact with coworkers, but is able to communicate with them using electronic means. As of late 1997, roughly 11 million US workers telecommuted, a 30% increase since 1995, according to a study by ATT . The very technologies that offer employees the freedom to work any time and anywhere may fray the ties that bind organization members to each other and to their employer. In particular, the cues that pullShow MoreRelatedTechnology And Its Effect On Communication955 Words Ã |Ã 4 PagesTechnology has changed the way individuals communicate and limits the number of face-to-face conversations. Technology affects the way individuals keep in contact with one another and it has taken over peopleÃ¢â¬â¢s lives. People have become more dependent on technology to function every day, and without it, their lives are incomplete. However, technology does not negatively affect communication in some circumstances. Miscommunication, emotional intelligence, and information technology are key characteristicsRead MoreTechnology Effect on Communication Essay816 Words Ã |Ã 4 PagesThe approach of communication has changed a lot due to technology. Technology has helped shy individuals pursue more fr iendships leading to more communication. Ã¢â¬Å"A considerable (48%) of young adults in Western societies report shyness; thus, large numbers of people experience fear and avoidance of face-to-face communication, which affects their lives in many waysÃ¢â¬ (Lynne Keaten, 2007, p. 350). These new ways of communication due to technology has assisted these shy individuals in entering the worldRead MoreCommunication Technology And Its Effects On Society1279 Words Ã |Ã 6 PagesWhat form of communication technology is forcing people to engage with each other in less face to face situations? According to CNN in August of 2012, Ã¢â¬Å"The number of text messages sent monthly in the U.S. exploded from 14 billion in 2000 to 188 billion in 2010Ã¢â¬ . Texting with the use of technology is what started fewer phone calls that some people still remember doing. Text messaging is ruining us in multiple ways, loss in entertainment, less social activity and loss of interpersonal skills. Th eRead MoreNegative Effects Of Technology On Communication1378 Words Ã |Ã 6 Pageshave led to the usage of cellular devices and social media sites, which are among the most common activity of todayÃ¢â¬â¢s society. Many of the social media sites such as Instagram, Twitter, Snapchat, and Facebook offer a portal of entertainment and communication which has grown exponentially in recent years. Although this may be a source of leisure for people, the usage of these devices and programs have provided an escape from reality and have made peopleÃ¢â¬â¢s lives less social. These distractions have preventedRead MoreThe Effects Of Technology On The Ethics Of Organizational Communications1213 Words Ã |Ã 5 PagesDiscuss the effects of technology on the ethics of organizational communications. How have the internet, e-mail, social media, etc., changed the landscape and associated practices and strategies? Technology moves at a pace that can easily outrun ethical standards surrounding its use. Sometimes it is very easy to outrun the ethical side of the communication process. This has led to courtroom battles, quick job terminations and complaints filed with the National Labor Relations Board. ThereRead MoreEffects of Communication Technology on American Society1757 Words Ã |Ã 7 Pagesdevelopment of technology that has credited us as a powerful country seems to be impacting the American society in more than just a positive way. As our country evolve and develop new and more amazing technologies, the social interactions tend to decrease. The traditional interactions of people in the society have increasingly been affected by the new technologies to the point that what we used to consider normal in society has become deviant. Despite the uncountable benefits of technology in areas suchRead MorePositive and Negative Effects of Technology on Communication Essay1391 Words Ã |Ã 6 PagesTechnology today has a myriad of gadgets and tools to facilitate communication and this has transformed the way people communicate with each other. From the invention of the telegraph to the internet, technology has allowed people connect with family, friends, and colleagues at any location . Moreover, people can express their opinions to larger groups of people instantly that would not have been possible without the advent of technology. However, electronically mediated communication is a doubleRead MoreComputer Supported Communication Technologies : Adverse Social Effects933 Words Ã |Ã 4 PagesComputer-supported communication technologies: Adverse social effects. Is communication the only good contribution to this new era of technology? Thanks to new technologies people can stay more connected than ever using the endless capabilities of their smartphones and also making use of the different social networks available. However, it seems that in this new era, the more connected we are, the more disconnected we become. Nowadays people seem to be more reluctant from interpersonal interactionRead MoreWhat Has Caused the Increased Use of Digital Technology over the Last 2 Decades and What Effects Has This Had on How Communication Occurs?912 Words Ã |Ã 4 PagesOver the last two decades, digital technology has become an essential part of peopleÃ¢â¬â¢s daily life and has caused an enormous influence on how the communication occurs. According to the research of the International Telecommunication Union(ITU), there were only 500 million mobile users in the 2000,but ten years later in the 2010,this number reached 4.6 billion(2010).Digital technology is a base two process, because the digitized information is recorded in binary code which is the combination of theRead MoreBenefits Of Being Top Notch Communication Channels916 Words Ã |Ã 4 PagesIt is apparent that technology has exceeded humanity; face Ã¢â¬âto-face is worryingly diminishing because of the emergence of social-media technologies. Over 90% of the people in the modern world use social media such as Twitter, Facebook and Tumblr amongst others as communication platforms. These technologies play a significant role in the lives of people to the extent that some do not consider living without them. Social media technologies have become known forms of social interaction across the globe
Tuesday, May 5, 2020
My mind was racing, as the bay had reached capacity. The water rushed into the backyard, flowing through at an alarming rate devouring all empty space. The cold, salty bay had invaded the house, filling like a reservoir before my eyes. Running on adrenaline, I quickly moved everything of importance from its path. It was useless; the water kept throwing all the objects around that were in its reach. There was no land left and even the park across the street had become a frosty, war torn ship sitting in the middle of the artic. The day was cold, and the air was brisk, rubbing against oneÃ¢â¬â¢s face like a sand storm. It was like any other New England winter except that I was alone and the house was under siege. As the bay began to enter my basement, so did the energy inside my brain. On the other side of the door lay a backyard submerged in water that was ready to rush in. We will write a custom essay sample on Rough Waters or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Promptly, I gathered the several pumps and a sheet of plywood; dancing threw the cold water as it bit into my skin. I attempted to divert the water and create a seal protecting all valuables, living and non that resided within. Most high school students desire more free will in their lives every waking moment, yet do not know what it truly entails. They have never experienced total control and responsibility. YouÃ¢â¬â¢re under your own guidance and ingenuity; no one is around to take you by the hand or make things right. This became a shocking reality to me three winters ago, when I decided to stay home one day while my family went to visit my aunt. That day I was not only scared that the over four feet of slushy water might damage the house, but also that I would not be able to respond effectively. That day taught me what it is like to be self-reliant, to adapt, and to function as an individual. People are sure to have help in one form or another from teachers, parents, and frie nds alike. In reality though, they cannot be with you every day, help make all your choices and to bring you past all your obstacles. NobodyÃ¢â¬â¢s perfect, but each experience IÃ¢â¬â¢ve persevered through has developed me as an individual, making me prepared to wade through any challenge. College is in many ways similar. You have to be able to help yourself, think for yourself, and solve problems for yourself. If you cannot apply your knowledge and skills to the real world you have not learned anything. It is one thing to have intelligence, something anyone can achieve and still too, to have common sense, but to be able to apply these things together and be resourceful is more of a rarity. For some, college will crash upon them like a title wave overwhelming them, while others may ultimately succeed. Obstacles will always flood my path, its immensities engulfing, but I will always be ready; for once the tides recede truth will take its place.
Wednesday, April 15, 2020
Alejandro Iglesias Psychology Dr. Mi Na Ahn April 16, 2017 Repressed Memories Repressed memories are memories that are involuntarily unable to be recalled. These are largely due to trauma which is what we will be discussing in this essay. Memories involved in trauma are very severe and so, as a defense mechanism, the brain will "tune out" these memories from consciousness in order to protect itself. By evading any thoughts of the negative memory the brain is trying to avoid further damage of the trauma by not thinking about it. The main problem that arises with repressed memories is that they are not completely forgotten, and conflict between conscious and consciousness states of mind seem to have an interference in the brain that has negative effects on one who has traumatic experiences, whether they remember the experiences or not. In psychology, the mind is largely considered to be like an iceberg. Conscious awareness is like the tip of the iceberg, meanwhile unconscious awareness and memory is the vast majority of the iceberg, Unconscious memory affects all of our lives. When you see the face of an acquaintance on the street, although you were not currently thinking about that person, you recognized them and naturally brought up a brief synapsis about your relationship towards that person (in order to respond appropriately to seeing them). This is proof of how the subconscious mind is always at work Some of the conditions associated by the effects of repressed memories include eating disorders, dissociative amnesia and dissociative disorders. Dissociative disorders involve a break, or dissociation, in consciousness memory or persons sense of identity. In dissociative amnesia, the individual cannot remember personal information such as one's own name or specific personal events - the kind of information contained in long term memory,. Dissociative amnesia mat sound like retrograde amnesia but it differs in its cause. While retrograde amnesia is caused by physical trauma, Dissociative amnesia is caused by emotional trauma. In conclusion, repressed memories sit within a large spectrum of unconscious thoughts that are partially responsible for governing our behaviors and actions. There is much controversy related to retrieving false memories. Many say that a therapist conducted session with the intent of uncovering suppressed memories, may only lead to implementation of flase memories to the patient rather than uncovering genuine memories. These memories can be falsely distorted due to a variety of factors and there is no reliable evidence to show that therapies to retrieve suppressed memories are completely effective. There will have to be more research done into repressed memories and their mechanisms for scientists and psychologists to have a better understanding of the way that repressed memories based on traumatic experience work, and how to accurately retrieve them.
Thursday, March 12, 2020
Future Of E-Commerce Essays - Retailing, E-commerce, Free Essays Future Of E-Commerce 1 The Future of E-Commerce Future 2 THE FUTURE OF E-COMMERCE There are varying opinions regarding the future of e-commerce. Despite the fact that online sales are growing exponentially, some analysts believe that e-commerce is heading for a fall. Laurie Windham justifies her belief that as time goes on, sales will decrease instead of increasing. Windham believes that net consumers are very different than mall shoppers and catalog shoppers. Furthermore, she says that dot-coms are responsible for ruining their own chances to sell because they have spoiled customers to the point that consumers expect cheap prices and freebies and if they don't get them, they just move on to another site. E-commerce, Windham says, is a fickle world with little, if any, customer loyalty (Fortune, 2000). Windham found some interesting differences between online shoppers and traditional shoppers. For instance, 34 percent of online shoppers describe themselves as comparison shoppers but only 8 percent of traditional shoppers describe themselves as comparison shoppers. Another comparison is that only 1 percent of Web shoppers say they hate stores but 10 percent of traditional shoppers say they hate stores (Fortune, 2000). Web shoppers are by and large comparison, price-sensitive consumers. Future 3 Windham, who spent two years studying the consumers who purchase online, said that as nonusers begin to use the Web for purchasing, they will be less adventuresome than people already making purchases online. They will also be slightly older than the norm and they will be more fearful and cautious about privacy and security. In other words, as nonusers begin using the Web to shop, they will be a more conservative group than current users. It is probable they will also be less fickle and more loyal to brands/stores (Fortune, 2000). Windham pointed out that there were numerous problems with people receiving exactly what they ordered online during last holiday season. Based on that, she suggested sales may be lower this year (Fortune, 2000). Surveys conducted after the last holiday season suggested online shoppers would continue shopping online. One survey, for instance, indicated that more than 90 percent of consumers reported that shopping online met or exceeded their expectations. Eighty percent said they would increase their online shopping in 2000 (Rutledge, 2000). Studies found that consumer confidence in using the Internet for shopping reached very high levels, which were due to a number of factors. Positive comments from family and friends were one of the factors that swayed more people to utilize this option. Better selections from online stores also made the experience more satisfying. Finally, Future 4 secure credit card transactions played a major role in increasing sales (Rutledge, 2000). Consumers were enticed to try shopping on the Internet by the massive marketing campaign last year for both dot-com stores and retail stores online. More than 70 percent of Net shoppers said they bought from e-commerce sites that offered free shipping. Another 54 percent said they were enticed by the discounts offered for their first online purchase. Forty percent used online coupons and 25 percent responded to the offer of free gifts for their online purchase (Rutledge, 2000). The Direct Marketing Association projected that sales generated from catalogs and the Internet would double in the next four years, reaching $3.33 billion (Entrepreneur, 2000). A study by Jupiter Communications agreed saying that sales would increase this holiday season. This study reported that holiday shoppers would spend almost $12 billion in online purchases between November 1 and December 31 this year, which represents a 66 percent increase over the same time period last year. The increase between the 1998 and 1999 holiday seasons was 126 percent. There is a slowdown in the degree of growth but it is still a substantial increase (Kontzner, 2000) The Gartner Group predicted a much larger growth this year. They projected sales of $19.5 billion. This group also believed that dot-com stores and retail stores online Future 5 would not spend as much money on advertising this year. Instead, they will spend
Tuesday, February 25, 2020
TNT - Case Study Example The organization or company has to come up with objectives with an intention of supporting the aims. The objectives of a company ensure that employees get to know how and when things are needed. Objectives ought to be specific, measurable, achievable, and relevant and time bound. The objectives can be changed to help overcome threats and other obstacles. The topmost objective of TNT Company focuses on gaining a profitable growth. The mission statement of Coca Cola is to inspire happiness and optimism moments and to make a difference and create value. The aim of the company is to make the company a better working place for its employees and to be lean, fast moving and highly effective company. Objective of the company is to always respond to change and act with urgency (Ã¢â¬Å"Delivering a business strategyÃ¢â¬ , 2014). Business strategy is the ways in which a company achieves the stated objectives. An effective business strategy has to be planned and should relate to the environment, product and chosen markets. A strategy that is considered competitive is based on; distinct market position and development of core competencies. The strategy map of TNT is customer centered. The tool focuses on directing everybody involved; on how the company will be able to achieve the stated Goals. The strategy map acts as a frame work and practical guide in achievement of the stated objectives. The strategy is also considered a reference point that connects the organization together. The business strategy map makes everyone accountable in accomplishing their stated roles (Ã¢â¬Å"Delivering a business strategyÃ¢â¬ , 2014). The overall strategy of the TNT Company is set out under innovation, customer relationship management and operational Excellency. The services provided are reliable, quality and fast. The allegiance and loyalty of the customer is built by understanding their wants