Free Essays on Business

Company & Product: Glow (Fabric Detergent) Data & Demographics: A properly organized database is essential to build the direct marketing strategy. Without it, each action remains independent of others. You can not build your understanding of complex customer reactions without recording all the interactions you have had with that individual or company. The value of the database depends on its being comprehensive and up to date. Accessing the demographic data you need to expand your business, find new customers or design marketing campaigns. Analyze income and population trends, racial mix, housing values, and employment trends. Data available down to zip code level. Compare multiple Geographic’s side by side. Statistics: Probably the most often used descriptive statistic is the mean. The mean is a particularly informative measure of the â€Å"central tendency† of the cariable if it is reported along with its confidence intervals. The mean can offer information about the population. The â€Å"true† (population) mean is located (with a given level of certainty). For example, if the mean in a sample is 23, and the lower and upper limits of the p=.05 confidence interval are 19 and 27 respectively, then you can conclude that there is a 95% probability that the population mean is greater than 19 and lower than 27. Customer Relationship Management (CRM): CRM is the process that enables you to build long term profitable relationships with your customers and prospects. The central element of CRM is the customer database essential for any direct marketing strategy. This includes much more than just the basic contact details of the customer. It must record and facilitate all outgoing and incoming communication with that customer by any member of your team-personal meeting, letters, telephone, fax, email. It must also provide an automated document management service to file all documents for e... Free Essays on Business Free Essays on Business Ocean Fortune Trading Ltd is a newly company schedule to operate in Austin, Texas at the beginning of January 2006. The business has just recently found out there is a market for the new motorized bicycle in Austin. Such product is still unknown to the public and is not saturated yet as the product is in the introduction phase. Ocean Fortune believes that this market offers great opportunity to introduce and sell the electric motorized â€Å"Zap 20’ inch Power Bike† both on the local market as well as the overseas where great sales lead exists. The Z-Bike is a versatile electric bike with a clean advanced style inspired by the aerodynamics of a sports car. The 20† wheel size makes it lightweight and easy to store. The specially designed mono tube frame is both beautiful and rugged. This bike combines the latest in electric drive with practical bike features including front suspension and 6 speeds. It will go 20 – 30 Km per charge and is an exciting bike for all ages. It is supplied with a 220V charger. As an alternative mode of transportation, the Zap Power Bike is 100% pollution free and contributes to a cleaner environment and the power consumption for charging is very low. The bicycle is classified under normal bicycle and no license is required. The Z – Bike can be use as a pedal power alone or power assist. The direct marketing program that Ocean Fortune Trading Ltd will be concentrating on for the first 6 months is in Galveston, Texas only and once the business is established, the company will be looking in expanding interstate and overseas. The business consists of 2 partners and the company mainly focuses on import and export. Such business is also incorporated in Taiwan and Hong-Kong, however the major operation will be conducted in Austin. Ocean Fortune Trading Ltd is now issuing a proposal to potential investors inviting them to invest into the business and secured a Return on Investment within the n... Free Essays on Business Company & Product: Glow (Fabric Detergent) Data & Demographics: A properly organized database is essential to build the direct marketing strategy. Without it, each action remains independent of others. You can not build your understanding of complex customer reactions without recording all the interactions you have had with that individual or company. The value of the database depends on its being comprehensive and up to date. Accessing the demographic data you need to expand your business, find new customers or design marketing campaigns. Analyze income and population trends, racial mix, housing values, and employment trends. Data available down to zip code level. Compare multiple Geographic’s side by side. Statistics: Probably the most often used descriptive statistic is the mean. The mean is a particularly informative measure of the â€Å"central tendency† of the cariable if it is reported along with its confidence intervals. The mean can offer information about the population. The â€Å"true† (population) mean is located (with a given level of certainty). For example, if the mean in a sample is 23, and the lower and upper limits of the p=.05 confidence interval are 19 and 27 respectively, then you can conclude that there is a 95% probability that the population mean is greater than 19 and lower than 27. Customer Relationship Management (CRM): CRM is the process that enables you to build long term profitable relationships with your customers and prospects. The central element of CRM is the customer database essential for any direct marketing strategy. This includes much more than just the basic contact details of the customer. It must record and facilitate all outgoing and incoming communication with that customer by any member of your team-personal meeting, letters, telephone, fax, email. It must also provide an automated document management service to file all documents for e... Free Essays on Business Is most conflict in an organization is caused by poor communication? If we had perfect communication would conflict cease? Consider for example, an e-mail asking for some information â€Å"yesterday† to stress how important this request is. The sender thinks e-mails are great as they travel at the speed of light and spell things out in black & white. The recipient may consider that if it’s in e-mail then it can’t be that urgent because servers can loose, misdirect or delay an e-mails transmission. They may also consider that as the information was wanted â€Å"yesterday† it’s already too late to be effectively utilized. Both parties saw the same communiquà ©, neither read the same message. Each will blame the other for failing to communicate properly and conflict may result. E-mail flame wars are a high tech twist on whispering campaigns. And like the system of claims & loyalties in feudal states the smallest e-mail spat can spiral out of control with careless use of the C.C. and B.C.C functions. Drucker (1977) says that there are four fundamentals of communication:  · communication is perception of the recipient not the utterance of the instigator  · communication is expectation in that recipients will heed only what they are expecting to hear  · communication makes demands of the recipient that they become someone, do or believe something  · communication and information are different and largely opposite - yet interdependent Employees need to know a number of things such as what is expected of them, how they are performing and how can they advance. If these are not communicated, on a regular basis, then role or expectation conflict will develop and motivation decline as the employee is berated for failing to meet the goals their superiors [are convinced they] assigned them. But if this is all the communication they receive they may begin to feel like machines. According to Pearson & Thomas there are three levels of ... Free Essays on Business 1. Product Life Cycle a. 1. Product development begins when the company finds and develops a new-product idea. During product development, sales are zero and the company’s investment costs mount. 2. Introduction is a period of slow sales growth as the product is introduced in the market. Profits are nonexistent in this stage because of the heavy expenses of product introduction. 3. Growth is a period of rapid market acceptance and increasing profits. 4. Maturity is a period of slowdown in sales growth because the product has achieved acceptance by most potential buyers. Profits level off or decline because of increased marketing outlays to defend the product against competition. 5. Decline is the period when sales fall off and profits drop. b. 1. Introduction: Product- offer a basic product Price- Use cost-plus formula Distribution- build selective distribution Growth: Product- Offer product extensions, service, warranty Price- Price to penetrate market Distribution- increase distribution outlets Maturity: Product- diversify brand and models Price- Price to match or best competitors Distribution- build more intensive distribution Decline: Product- phase out weak items Price- cut price Distribution- go selective: Phase out unprofitable outlets 2. Pricing Approaches a. Cost-based- adding a standard markup to the cost of the product Ex. An appliance retailer might pay a manufacturer $20 for a Toaster and mark it up to sell at $30, a 50% markup on cost. Value-based- uses buyers’ perceptions of value rather than on the seller’s cost. Ex. People are looking... Free Essays on Business Critically discuss the view that â€Å"Marketing is getting people to buy things they don’t need, with money they don’t have, to impress people they don’t know†. Marketing as both a process and a philosophy has developed as society has developed. When man first realised the benefits of trade, markets were both local and relatively independent. The relationship between producer and consumer was direct and personal. The Industrial Revolution lead to changes in production and consumption. Mechanisation, mass production, and labour specialisation lead to dramatic increases in production, and with it, a need for distribution. The relationship between producer and consumer had become relatively indirect. Since the first production surplus, marketing has been based on the principle of exchange – interested parties exchanging something of value. In 1776, when Adam Smith said, â€Å"Consumption is the sole end and purpose of production† he was describ ing what in recent times has become known as the marketing concept (McDonald & Keegan, 1997, pg. 1). In marketing terms, the consumer can be defined as any individual, group of individuals or organization. The role of the consumer is expanded to include the categories of payer, user and buyer, be it an individual, a household or an organization. Products are also generalised to include all goods, services, places, people and ideas. In recent times, the broad nature of marketing has lead to acceptance of the following definition. â€Å"Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational goals† (Czinkota et. al, 2000, pg. 8). Simply, modern marketing includes everything from conception to consumption of an idea. Marketing stimuli consists of the four P’s – product, price, place and promotion (Kotler & Armstrong, 1996, pg. 1 43). In relation to this mix,... Free Essays on Business Questions for Management and Organizational Behavior Term Paper Please include a brief autobiography of yourself†¦ (Title, Age, Educational Background†¦) Manager of Computer Systems and Operations Age: 43 BA Liberal arts, History AA Data processing 1. What is your organization chart? What makes up your functional staff? What is your reporting relationship? Hierarchical organization. 3 staff directly under me. Report to Director of Division. 2. What is your annual operating budget? (Approximate if necessary) 1 million 3. What business are you in? What products and services do you provide? The American Institute of Physics is a Scientific Journal Publisher. We publish science research manuscripts in both printed and electronic media for AIP and member societies. Organize and provide support for member society meetings. Public relations issues for AIP and our member societies. Marketing and advertising for AIP and member journals. Computer services and support for AIP and member societies. 4. What are your departmental major objectives for 2002? Are they in writing? (Calendar or fiscal year) Migrate enterprise wide backup server to new tape library system. Migrate large enterprise servers to a SAN solution. Yes. 5. What do you consider to be your biggest challenge? Providing all the support services within a limited budget. 6. To whom do you report? (Title, Function) Wendy Marriot, Director of Business Systems and Operations. 7. How long have you been a manager? 5 years 8. How is your individual performance measured? Annual performance appraisal based on major job responsibilities and functions. Managerial type functions. 9. How do you measure the performance of your direct reports? Annual performance appraisal based on more specific job tasks for each shift. 10. Do you have a written business plan? Related Mission statement? What does it state? How can I obtain a copy? The company has a written business pla...