Developing Shop Online in China Essay

I. The development of new technology A. The Internet communication skills B. Computer program systems 1. The feedback-based reputation system 2. The E-payment system II. The characteristics of shopping online A. Low-price strategy B. Diversity of products III. Some changes in people’s lifestyle A. Logistics development makes life more convenient B. People prefer to stay at home because of the Internet Developing Shopping Online in China Have you had a good experience of shopping online? It might have been common in the US; however, the only approach for Chinese to buy clothes or food was to go to the mall or supermarket ten years ago. Shopping online has become more and more popular in China and has been adopted as a common way to shop. A report, conducted by iResearch, an online market research company, said that the first year’s trade volume of Chinese online market soared 95.8% (as cited in Ding, 2009,  ¶2). People in China now prefer to click to the website, select products and make sure to purchase. There are two common types of e-commerce websites in China: B2C and C2C. B2C presents business-to-consumer, and C2C stands for consumer-to-consumer. A few e-commerce websites, such as Dangdang (www.dangdang.com.cn, the largest and most popular B2C website in China), and Taobao (www.taobao.com, the largest C2C website in China, owned by Alibaba.com), â€Å"have won great success and established good reputat ion among online consumers†(Lu, Zhou& Bin, 2007,  ¶1). The reasons that shopping online has been developed and improved in such a high speed in China are the development of technology, the characteristics of shopping, and the improvement of people’s lifestyle. The first reason why shopping online has become a significant role in China is the development of the technology, such as network communication skills, e-payment system and the feedback-based reputation system. The Internet has had widespread effects on Chinese since it was first introduced into China in 1995. The Internet, a recent innovation, has become a significant intermediary for not only communication but also commerce. Compared with traditional shopping approaches, the features of the Internet will be considered by buyers, and people will think whether the characteristics of the Internet are preferred when shopping online (Joseph& Dong, 2006,  ¶6). The three steps when consumers are shopping in the Internet are to click their mouse, search for what they want to buy , and make sure to purchase, while they even don’t have to talk to sellers. The convenience of the Internet leads shopping online to be the first choice. Moreover, most consumers are concerned with computer program systems related to payment safety or product reputation when shopping online. Such computer program systems have been set up to ensure consumers’ profits. A lot of online shopping websites, such as eBay.com and Taobao.com use feedback-based reputation system, in which the sellers’ and buyers’ reputation and credit will be recorded and marked based on transaction in the past. It means a lot in online C2C market, and the seller will be trusted if s/he has a good reputation, which brings about good sales (Bo, Zhangxi, & Bingjia, 2010,  ¶20). Nelson (1970) sorted products into experience and search goods. People want to try the quality of experience products right before they buy the products, while people have to see search products through some information provided online. In other words, the products bought online are search goods. People have to decide whether to buy only after reading a few lines of words (as cited in Bo, Zhangxi, & Bingjia, 2010,  ¶22). Without feedback-based reputation system, potential consumers would not have accepted the new approach of shopping. Also, the former comments and scores from buyers and the scores which buyers get from sellers, depending on whether the buyers pay in time or not make feedback-based reputation system become a special credit system for not only vendors but also consumers. Another important system researched and developed for shopping online is payment system which protects consumers’ money from being taken away by sellers without receiving products or not being satisfied with the products. â€Å"Alipayment†, which belongs to Taobao.com, is the typical payment system known among online buyers. Even though there are still some shortcomings needed to be improved in these systems, technology makes it possible and promotes the development of shopping online in China. Secondly, the characteristics of shopping online are considered to be another important reason that promotes the development of shopping online in China. Low-price strategy, diversity of products and convenience of shopping style are three of the most obvious features of shopping online, which attracts more and more people in China involved in shopping online, and not only young people but also old people are interested in online shopping. Price and type are two of the most significant features of product, which influence buyers’ choice when they are shopping online (Bo, Zhangxi, & Bingjia, 2010,  ¶21). Because sellers can reduce operation and storage cost, products online are usually less expen sive than products bought in a traditional way. Lower price has been one of the most important factors, which makes shopping online the best choice in China. There are 10,000 shops which were opened everyday in 2008, while more than 140 million Chinese became loyal customers of shops online (Lan, 2009,  ¶4). Nevertheless, product price is sometimes connected with cheating and fraud, and buyers can’t recognize whether or not the sellers online are cheating on product price. That will be an important issue in online shopping (Bo, Zhangxi, & Bingjia, 2010,  ¶21). Had sellers online had the same price as traditional sellers or higher price, the online market would not have bloomed. Another characteristics of shopping online, diversity of products, promotes the development of shopping online. Imagine that there are two choices for consumers when shopping: buying goods in different shops or buying all stuff in one big shop. Obviously, people prefer to shop in one place and purchase all the stuff they list. Like shopping in a big shopping mall, people buy all they need online on one website without driving out or walking a long distance, crowding in the crowd and sweating in different shops. All consumers need is to search what they want, and compare the prices and comments. Liu claims, â€Å"Best selling online items include clothing, cosmetics, home furnishing, outdoor sports equipment, personal computer, jewelry, laptops and small home appliance†(Liu, 2009,  ¶27). The characteristics of shopping online, low-price strategy, diversity of products and convenience of shopping style, attract more and more people and lead to the promotion of shopping online. Thirdly, the development of people’s lifestyle contributes to the emergence and development of shopping online in China. With the rapid growth of Chinese economy, not only has per capita income improved significantly, but also people are getting accustomed to the faster pace of life. That involved in the development of shopping online as an important factor. Due to the faster pace of life, a kind of new industry—express delivery industry—has arisen. The convenience of shopping online is considered to be a significant reason for consumers. Because of the development of express delivery industry, which belongs to modern logistics, the buyers don’t have to go out to take stuff back home, and just sit in front of the monitor to wait for delivering. Express delivery industry is developing in a rapid pace because of the boom of online shopping. In China, people now are interested in sitting in front of a computer, clicking the mouse, and shopping online (Liu, 2012,  ¶1). The development of express delivery industry has been outstanding in recent years, which has been proven by a year-on-year increase of 20% from 2009. There are 542,000 people working for express delivery industry, and express delivery companies have been set up everywhere around China. Because of the appearance of online shopping, the express delivery industry developed better and faster (Liu, 2011,  ¶3, 4, 5, 6). At the same time, express delivery industry promotes the development of shopping online. The promotion of express delivery industry makes more and more people trust in shopping online.What consumers need to do after making sure to purchase is to wait for stuff being delivered in a few days. Such convenience really helps people who suffer from the faster pace of life: they don’t have to go out to shop, and just stay at home to get everything they want. Another change in people’s lifestyle is that people prefer to stay at home rather than go out for fun. Because of the Internet, online entertainment has become the most popular way to spend time. Not only chatting online or playing online games but also shopping online has been a significant role in people’s daily life. Evidences are that not only can people buy concrete goods online, but also a lot of abstract goods, such as game cards and mobile phone recharge cards, can be found in online shops. The changes of people’s lifestyle and the emergence and development of express delivery industry make contribution to the development of shopping online in China, which makes life more convenient. In conclusion, the development of technology, the characteristics of shopping and the improvement of people’s lifestyle are three main reasons why shopping online has become an important role in China. Due to the developing of shopping online, a new approach of shopping has appeared which makes shopping more convenient for consumers; moreover, it promotes the development of tertiary industry and economic development in China. Shopping online offers many jobs in China; for example, Taobao.com, the biggest shopping online website, provided 570,000 jobs in 2008. Moreover, shopping online offers much more chances for young persons between 23 and 32 years old to run their online shops with government’s support (Lan, 2009,  ¶16, 17, 18). Because of the development of Chinese shopping online, many overseas shopping websites have noticed the future of this market flourish. Alipay, third party payment tool, has enrolled 300 overseas online shops to get access to Chinese online shopping market (Lan, 2009,  ¶9). In other words, the local online shoppers will face more opportunities in the future. References Bo, X., Zhangxi, L., & Bingjia, S. (2010). Factors affecting consumer behaviors in online buy-it-now auctions. Internet Research, 20(5), 509-526. doi:10.1108/10662241011084086 Ding, W. (2009). Cheaper prices or better services?. Beijing Review, 52(37), 28-29. Lan, X. (2009). Online shopping spree (cover story). Beijing Review, 52(37), 26-27. Liu, X. (2009). You want it, the web has it. Beijing Review, 52(37), 30-31. Liu, X. (2011). Express reform for speedy deliveries. Beijing Review, 54(30), 36-37. Liu, X. (2012). Delivering satisfaction. Beijing Review, 55(2), 34-35. Lu, Y., Zhou, T., & Bin, W. (2007). A comparison of prices in electronic markets and traditional markets of China. Chinese Economy, 40(5), 67-83. doi:10.2753/CES1097-1475400504 Joseph, R., & Dong, S. (2006). E-commerce adoption among Chinese consumers: an exploratory study. Journal Of International Consumer Marketing, 18(3), 33-55. doi:10.1300/J046v18n03-03

Discretionary Fiscal Policy

The effect of time lags in discretionary fiscal policy in the economic growth and development by the congress and the president captures a broad economic phenomenon. A discretionary fiscal policy is the level of legislative parameters which are used as action policies for providing stimulus for the effect of control of economic recession. However, the most adequate system of recession control using discretionary fiscal policy relate to an estimation of the most adequate time period with which such recession period is to operate in so as to provide the most lucrative legislative tools.(http://www. cbo. gov/ftpdocs/89xx/doc8916/MainText. 4. 1. shtml) However, a problem exists in estimating the most appropriate economic periods between the upswings and the downswings which the congress and the president is to apply such policies. Since discretionary tools are only used to wave out the problem founded by economy in recession, the relevant stimulus which is a applied for such control are only time constrained and functional if the estimated states of recession is still in occupation.However, a problem mounts on when other various economic shocks which cause time differential hits the economy leading to subjective sub-optimal controls by the discretionary fiscal policies. Since, the status of the economy is difficult to access in terms of its length/span and the states of capacity and economic implication, the use of discretionary fiscal policy would therefore become difficult. (http://www. cbo. gov/ftpdocs/89xx/doc8916/MainText. 4. 1. shtml) Either, time lags are sensitive variables in defining the scope of economic stability.Generally, time lags may cause preferential economic instability where such tools used to overcome their effects become negatively implicating. Either, economic recession is purely a bad state which would even compromise economic stability. At recession, the state of GDP in terms of aggregate supply and also aggregate demand are usually not at equilibrium. When the tools for economic recession become counteractive, the state economic stability is therefore compromised. Misappropriated time lags lead to disequilibria in the economic markets. Reference Options for Responding to Short-Term Economic Weakness. Retrieved on 11th March 2008 form, http://www.cbo.gov/ftpdocs/89xx/doc8916/MainText.4.1.shtml

Effects of Auditing in a Company? Essay

Introduction Internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. Proper internal control not only ensures that the assets and records are safeguarded, but also creates an environment in which efficiency and effectiveness are encouraged and monitored. This report is mainly focused on internal audit and internal control system in a company. In this case, the company is Kejora Bhd.. This report also focused on two main questions to be answered which is regarding on the evaluation of the strengths and weaknesses of Kejora Bhd.’s control environment. Another question is regarding on the factors in Kejora Bhd.’s control environment have lead to and facilitate one of Kejora Bhd.’s division which is the Fabricator Division’s general manager named Adam. This case is all about Kejora Bhd.’s rules of conduct and its internal control system. There are basically four rules of conduct which is integrity, competency, objectivity and confidentiality to be joint with the Kejora case. What factors in KejoraBhd’s control environment have lead to and facilitated Adam’s manipulation of inventory? Based on the task, the factor that lead Adam to manipulate the inventory because he wants to avoid reduces of bonus and salary. Kejora Bhd’s procedure is to give salary depends on high performance of the staff. This lead Adam to manipulate the inventory which is considered as fraud. Adam does not have competency knowledge to compete with the competitor and Adam not integrity in his job. Furthermore, the other factor that lead Adam to do fraud is Kejora Bhd does not have an internal audit to control the environment. It helps Adam to do the fraud without any risk as there are no internal audit to found out the fraud. Morever, Kejora Bhd corporate intervention only occurred when planned result were not obtained. When Adam did fraud by showing constant or good profitability, so there won’t be corporate intervention occurred and it is a encouragement for Adam to manipulate the inventory. In addition to, Adam did fraud because he wants to get maintain performance to get compensator packages which can lead him to make fraud by increasing the performances constantly. The other factor is it easy to control the inventory as the inventory section is weak. This is because the no proper internal audit to maintain it. It can be see when Adam manipulates the inventory to show a constant profitability and avoid the salary and bonus. Besides that, the employee is not following the compliance which is the code of conduct. Adam does not follow the law of audit. Moreover, Adam does not have loyalty and ethical value on his job. According to this, Adam attitude will affects other employee in the firm. Furthermore, there is no participation by the those charged with governance of the entity. The top management should always take a part in the entity. But in this case the board of directors and audit is not very active. When they are not concern about their management, Adam as one of higher position officer in the company make own decision which excess of his limit which consider as fraud. More than that, this entity does not have an organize structure to perform the business. In this case, this entity does not have a proper internal audit and the board directors is not very active. Besides that, all the staff in the entity should be responsible in their authority. In this case, certain staff does not play their role properly as Adam does not play his role properly and this lead him to do fraud. The human resources not only responsible to hiring employee but also have to provide a practice to train employee. Eventhough the entity’s human resources have proper policies but Human Resources department forget to monitor employee which weak in code of conduct. Adam whom responsibly done his work for 7 years and finally lead to fraud because of weakness of management which give encourage to fraud. Conclusion Based on the case, there are several things that has to be put into consideration. First of all, the management and internal control as well as internal audits must be compliance to laws, procedures and policy of the company. In this case, Mr. Adam cannot manipulate the inventories as it is very unethical to his profession. Although the rationality of him doing that is because he is afraid that his salary and bonus will be reduced, he still must be compliance to the rules of conduct when doing his job. Here, we can see that the internal control is not very strong because the employees such as Mr. Adam are able to do things that can jeopardize the company’s reputation by altering its business records. Second, Kejora Bhd. must hire an internal audit to examine all the financial statements all the time. The board of directors and the audit committee should also be active and provide full participation on the management of kejora Bhd.

Strateguc Management of Apple Inc Assignment Example | Topics and Well Written Essays - 2500 words

Strateguc Management of Apple Inc - Assignment Example The main internal factors that have impacted the functioning of Apple Inc, and the strategic management processes and decisions of the company are discussed as follows. Resources and capabilities of the company: The availability of resources and capabilities including financial resources, physical resources, human resources and other key competencies of the company are major internal deciding factors for the strategic management of Apple Inc. The company is rich in terms of both tangible and intangible resources which act as value adding factors for the technology giant. The cur competencies of Apple Inc. like product designing capabilities, high investments made in fostering radical innovations, breakthrough inventions, highly robust research and development systems act as the key strengths as well as the Critical Success Factors (CSF) of the company. Thus, the business focuses on leveraging on such competencies and resources to create a strategically advanced position for the corpo ration in the global technology industry. The company has also remained highly efficient in product design and development which forms the backbone for the operability of a technological company. Te high investments made in the research and development arenas of the organization also add to the success of the company. The company culture and the shared values within the organization are other important external factors that can negatively or positively impact the growth, success, sustainability and future direction of Apple Inc.

Operations Management Essay Example | Topics and Well Written Essays - 2500 words - 5

Operations Management - Essay Example In operation, technology is beneficial for handling and developing practices in both product and service distribution and comprehensive supply chain management. In present days, efficient process administration becomes essential for transitioning from traditional to modern industrial economy. The information flow related with the operational processes is a key motivation for employing more and more information technology (IT) based initiatives. The prime motive for implementing IT in operations management is to increase the speed, flexibility, dependability, and quality of operation procedures such as supply chain management, production management, quality management, and inventory management. IT can help to decrease the cost of excess time by reducing unnecessary operations in business (University of Virginia Darden School of Business, 2011). Technology in Operations Management The improvements in technology have changed the crucial features of operations management in several organ isations. Modern tools and technologies have been integrated in the plan and the operation of service and production systems. The ubiquity of IT including computers and internet has become obvious for many operations (Lari, 2002). Technology in Manufacturing Operations In current days, the technological advancements have presented new prospects for organizations to generate competitive advantage. Through employing technology in manufacturing procedure, organisations try to respond quicker to the requirements of customers, accomplish extensive selection of product offering and preserve high level of output. In the operations management of the manufacturing sector, technology can deliver exclusive benefit to organizations by providing superior products and services to the consumers. Technology can provide following benefits for manufacturing operations: Better machine operation: Technology based system can allow organisations to use machine to their highest capacity for manufacturing product faster Flexibility: Technology often improves the flexibility in arranging various works in an orderly way and it allows organisations to respond to the changes rapidly Simplicity of production change: Through technology, organisations can accommodate any modifications in production plan or procedure. Technology enables organisations to manage compound manufacturing operations with lesser effort and preferred quality Expansion of production: Technology helps organisations the flexibility to expand their production with response to the growing demand of market (Mahadevan, 2010). Analysis of Proctor & Gamble Proctor & Gamble which is one of the leading organisations in consumer products seeks to decrease the manufacturing expenses and increase the productivity of the organisation. To sustain in the leading position, Proctor & Gamble (P&G) needs to manufacture products quicker with less overhead expenses. It was necessary for minimizing the manufacturing cost of products. Thus, Proctor & Gamble had employed Predictive Adaptive Control (PAC) technology and ‘Overlapping Feed Technology’ in their manufacturing operations for achieving better speed and constant accuracy on production. P&G selected the Lima manufacturing facility for first implementation of those technologies to improve the material transfer procedure. As a result of PAC and

Marketing Planning and Strategy (Organizations or Individuals) 2 Assignment

Marketing Planning and Strategy (Organizations or Individuals) 2 - Assignment Example One of the most effective tools is to get the customers involved in the marketing process through the social networking sites such as Facebook, MySpace and LinkedIn. Additionally, it is recommended that the customers’ opinions are sought during the testing or initial phase so that they feel part of the entire marketing campaign (Hennig-Thurau et al., 2010; Kotler & Keller, 2011). Both marketers and consumers are crucial elements for effectiveness of the marketing programs. Since the consumers are at the consumption end, the marketing team has to make sure that the messages are communicated via the most frequently used mediums such as social media, technological gadgets (smartphones, tablets) and Television (Akroush, 2012; Kotler & Keller, 2011). Hence, the marketers and consumers have to work like a team so that they can reap the benefits of successfully meeting the customer’s demands. At present, the latest trend in marketing is to develop a two-way strategy which will ease the message delivery and receiving procedure. The professionals have to utilise the mediums available in the market with complete and strategic analysis so that the company can survive in the ever changing market. Hennig-Thurau, T., Malthouse, E., Friege, C., Gensler, S., Lobschat, L., Rangaswamy, A., & Skiera, B. (2010). The impact of new media on customer relationships. Journal of Service Research, 13(3),

Expanding Your Business Assignment Example | Topics and Well Written Essays - 1500 words - 1

Expanding Your Business - Assignment Example Guerrilla marketing strategy involves the use of unconventional and low cost advertising strategy to promote the business. Such strategy is often used locally and through an organized network which actually promotes the business and advances it in relatively unconventional manner. (Levinson, 2003) This marketing plan is related with the marketing of the new coffee shop and is based upon offering a critical strategic outlook and insight into the overall marketing efforts to be taken. The overall product range will not be limited to the freshly served coffee only but will also include selling merchandize such as caps, t-shirts and other items thus increasing the overall products to sell. Since Hot and Sweet Cafà ©Ã¢â‚¬â„¢ positions itself as an organization for all, who prefers hot and cold beverages. The customer profile of ‘Hot and Sweet Cafà ©Ã¢â‚¬â„¢ ranges between an age-group of 15- 45 years. Considering this, the overall goals to be achieved by executing this strategy include: It is critical to note that the owners of the business are assuming that the overall access to finances will be restricted at the early stages. In order to overcome this, it is therefore important to initiate and set up a marketing campaign which can deliver results without incurring much of the cost. 1. In order to expand the business, marketing buzz will be created for the cafà © at local level. An undercover marketing campaign will be started to create the opportunities for interaction between the consumers and the business to increase the overall exposure of the product. The overall marketing buzz will be created through word of mouth as well as through the viral marketing on social media. 2. Viral marketing will be started with specific targeting on the local consumers in the area. With the help of the online marketing platforms such as facebook and Google ads, a local campaign will be started to attract

Compare and contrast the education systems of the UK and other country Essay

Compare and contrast the education systems of the UK and other country - Essay Example School terms are similar. Both are divided in three terms, but they differ in terms of school year openings. School year in UK starts in September and ends in July. Each term has a break of few weeks, while the third term has two months vacation. The centralized system of curriculum is observed to both countries with certain dissimilarities in content. In UK, Emphasis of teaching in infant school is on reading, painting and practical lessons. At this stage children learn to read, write and count. As they move to junior level, they learn English, Math, science and technology, geography, and religion. They also learn about environment, art, music and P.E. At age 11, students go to junior level of a comprehensive school. At age 16, sixty percent of the children are ready to move to further education. All junior level students are qualified to enter FE level wherein they could enrol in vocational or academic, although this is no longer obligatory courses. FE courses prepare them for future employment. In Japan, the elementary school curriculum emphasizes study of Japanese, social studies, mathematics, science, music, arts and handicraft, and physical education. This is the stage where much emphasis and time is devoted to music, fine arts and curriculum. Japan introduced in its education system the promotion of respect for individuals, whereupon it was started in 1957 in elementary schools (Nemoto, Y. 1999) Students are required to practice moral education in their daily interactions in school and routine activities of cleaning and lunch, 2007. In high school Heirarchy and peer relations are intense and observed at this point. The method of teaching in Japan is very much different from UK in that they are concerned with developing the whole being of the child. Teachers consider it their duty to teach them with polite manners, personal hygiene,

How did Stanton recalculate the definition of self-evident truths Essay

How did Stanton recalculate the definition of self-evident truths - Essay Example lution do not only consist of change process via ethnic relations, but since movements in the aim to advance civil rights emerged as well at various points in history, their heavy criticisms upon the four models of social change managed to recalculate the view of self-evident truths. Eventually, for Elizabeth Cady Stanton, recalculation of truths applies further to more specific issues of evaluating differences between the dominant and the non-dominant groups. Ethnic social relations that were classified by Frederickson as hierarchy, assimilation, pluralism, and separatism each possess a characteristic definition. For one, hierarchy manifests the conspicuous evidence of truth in the manner nature takes its course as men of dominant race or culture share privileges among themselves, excluding their weaker counterparts whom they consider to be inferior. It may be widely perceived herein that social inequality is the natural order of truth and there seems no way of having the non-dominant blend with the dominant of the society for the borders that distinguish one from the other are fixed and significantly rigid. Assimilation, on the other hand, takes on a more subtle, rather considerate treatment by approving outcasts as in a situation where the superior in-groups tolerate acceptance of the inferior out-groups for as long as the latter make the effort to ‘assimilate’ or establish conformity to the attitude, sense of fashion, or beliefs of the former. Even more flexible in structure is pluralism the theory of which promotes respect for cultural diversity so that this enables abolition of typically unfavorable judgments upon ethnicities on the basis of color and racial origins. Instead, a pluralistic society encourages distinctions and social relation that supports the prevailing state of democracy from which to measure the level of civilization attained. Separatism being a form of pluralism, in the definition of Frederickson, may then be achieved upon full

Cda Competency Goal Essay Example for Free

Cda Competency Goal Essay To establish and maintain a safe, healthy learning environment. Safe- My goal is to provide a clean healthy environment that meets each Childs physical need. Making sure the class room and playground are clean and safe at all times make sure all my outlets have outlet covers so the children cant access them also make sure inside as well as outside there are no objects that the children can choke on or can ham them self such as sharp objects or small objects. Infants To make sure my classroom is clean and sanitary by cleaning and making sure the floors are clean and free of clutter and washing all toys with a bleach water solution, especially toys children put in their mouth . Also by making sure they don’t have anything in their mouth. Washing hands before and after every meal and diaper change is also very important for the health of the children. Toddlers I make sure that in my toddler class is safe as toddlers touch and explore everything they see by touching and putting in their mouth have to make sure that every night and every morning I check all their surroundings. If any toys are damaged I remove them immediately to avoid and hazards. Healthy- My goal is to promote healthy habits. Infants Keeping infants healthy by promoting good habits such as had washing of both the care giver and the infant threw out the day, after diaper changes and after meals. Also by sanitizing the changing table after each diaper change. Cleaning and sanitizing play areas daily. Mouthed toys are immediately removed from the play area and sanitized at the end of the day. I can help balance the infants sleeping habits, eating habits and their activities in a way that can fit the group’s needs a well as well as their needs individually. Toddlers Promoting healthy habits such as hand washing and eating habits. By washing toddlers wash their hands and having planed meals that encourage the toddler to try new foods also read books and play games that show and teach healthy habits. Learning Environment-

Key Factors That Stimulate Economic Growth Economics Essay

Key Factors That Stimulate Economic Growth Economics Essay Firstly, one of the main determinants is capital. As a result, an increase in capital through investment will increase output. Investment will only raise output depending on the productivity of this new capital which is called marginal efficiency of capital. Physical capital is essential as workers are more productive and they are able to work more quickly and accurately by having the right tools. Furthermore, the quality of labour (education) determines human capital. Investing in education is similar to investing in physical capital. Consequently, investing in secondary schooling is considered one of the most effective ways that developing countries can increase their growth. Also, this is also showed in the UK budget 2010 where they are giving 20,000 additional places at undergraduates as it is seen as vital to the economic recovery (telegraph, 2010). Figure 1 shows the student test scores versus GDP per capita. The correlation between GDP and test scores, although not perfect, is strong (economic growth, pg.179). Countries that devote a large share of GDP to schooling, such as UK and Singapore, tend to have high growth rates. Countries that devote a small share of GDP, such as Mozambique and Nigeria, tend to have low growth rates. Figure 1: Student Test Scores vs GDP per Capita In addition, human Capital includes the size of the labour force. If there is an increase in the working population then there will be an increase in potential output. Population growth has a positive impact on GDP as more people bring stimulus to demand, investment and income. Since 1945, labour input has risen mainly because more women have joined the labour force (Begg, pg. 517) Both physical and human capital directly impact on the productive capacity of an economy, as there are more resources available. They are complements of each other as one cannot work with a tool if one does not have sufficient education and skills. For example, after the 2nd World War in Germany, physical capital (land, infrastructure) was destroyed, but the skills of the labour force allowed Germany to be one of the countries that recovered most rapidly after 1945 (Begg). Moreover, growth per capita was very small in the past but after the 1750 industrialisation the capital and knowledge that was gained by one generation was accumulated by the next and this resulted in a much increased GDP (Economist). This shows that both types of capital are essential for economic growth. Moreover, natural resources also contribute to economic growth but there is a limit as to how much can be exploited. For instance, oil is a non-renewable resource and when it is depleted, we will not be able to create more. Also, the land that a specific country owns will always stay the same, unless it is conquered by another country. Therefore, natural resources contribute to the economic growth but they are not necessary for an economy to be highly productive. For instance, Japan is one of the richest countries but does not have many natural resources (Mankiw and Taylor, pg. 508). Furthermore, technology is another key determinant of economic growth. The new growth theories examine factors that à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã¢â‚¬Å"determine why technology, research, innovation and the like are undertaken and how they interactà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ã‚  (LeRoy). Technological improvements (such as computers) increase the marginal efficiency of capital (which is the additional output resulting from the use of an additional unit of capital) and new machines give a higher rate of return as technology can replace workers. Innovation also allows us to transform objects into forms that provide greater growth. The New Growth Theory also implies that we continue to increase living standards by steadily improving our knowledge of how to produce more and better goods and services with ever smaller amounts of physical resources (Grossman and Helpman, 1994). Knowledge and education are equally important. Romer (1968) argues that production and manufacturing knowledge is just as important as other determinants. He believes that knowledge is itself a factor of production and economies should invest in it, just as they invest in capital and machines. This is why knowledge and education will affect economies in a long term as more people will be able to contribute ideas, invent new products and build on ideas of others for the economy to move forward. Figure 2 shows the productivity (GDP per worker) levels in 1993. For decades, UK has invested a smaller proportion than other countries. Few of the causes of this poor performance comparing with other countries are that: UK had been slow to exploit the commercial potential of new technologies, the workforce had not had the skills necessary to adapt to changing economic conditions and to innovate and the amount of investment has been poor comparing with international standards (Treasury). Since then, UK has increased investment in human capital, technology and innovation. This resulted in Figure 3, where the reduction in the UKà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s output per worker gap with France, Germany and the US from 1995 to 2005 (after 10 years) is showed. The treasury reported that UK in 2006 was now experiencing its longest period of combined productivity and employment growth since the 1950s. Figure 2: Productivity (GDP per worker) levels in 1993 Figure 3: International comparisons of output per worker (treasure, pg.3) It is also reasonable to expect that, if other things equal, a greater commitment to innovation and research and development will accelerate technical progress and hence productivity growth (Economic Growth in Modern Britain, pg. 45). This is due to increasing use of technology that enables introduction of new and superior products and processes. This role has been emphasised by various growth models and many studies (Fagerberg, 1987; Lichtenberg, 1992; Ulku, 2004 (working paper)). However, RD is quite risky because the economy does not know how much to invest in it and if they will actually find something new. This is why an economy needs to have a skilled and educated labour force in order to succeed in RD. In the pre-budget of 2009, UK has more than doubled public investment and encouraged private sector investment through the RD tax credit. The Government has announced that it will introduce a Patent Box to strengthen the incentives to invest in innovative industries and ensure the UK remains an attractive location for innovation. (innovation pg. 66) Another major contributor to economic growth is investment and savings. Solowà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s Growth Model emphasises the importance of investment in an economy (Working paper). Most determinants of economic growth depend on investment like: capital, education and technology. In order for capital goods to be accumulated to produce greater quantities of consumer goods in the future, consumer goods have to be given up in the present. For growth to occur the level of investment has to be greater than the amount of depreciation. The higher the level of investment above depreciation, the greater the potential output of the economy in the future. Unfortunately, the resources to enable investment have to come from somewhere and this is achieved by an increase in savings by households. Higher saving rates contribute to higher investment and hence increase capital accumulation and economic growth. The analysis above gives the traditional Production Possibility Frontier(PPF) model of economic growth. In the figure below, a country starting with high levels of current consumption will have few resources available for investment. Its PPF will increase only slowly, if at all. A country succeeding in restricting consumption today will have an expanded PPF in the future, and can move to a point of higher consumption and higher economic growth (factors determining economic growth). Figure 4: Production Possibility Frontier Free trade also supports economic growth as it encourages a more rapid spread of technology and industrial ideas. Open markets affect economic growth through several channels such as exploitation of comparative advantage, technology transfer and diffusion of knowledge, increasing scale economies and exposure to competition (working paper). Poor countries that are open grow faster on average than rich countries because openness leads to economic convergence and the speedup of growth (graph pg. 326 table 11.1). In figure 5, we can examine the economic opening of Japan in 1858. It shows the price of two goods, tea and sugar, which before the opening were equally valuable. However, as soon as Japan began to trade, the price of tea rose and of sugar fell. Japan could now export tea at a higher price and import sugar without processing it domestically. It had a comparative advantage in the production of tea and within two decades was exporting 24 million pounds of it annually. By increasing competition between countries, efficiency improves and it increases the incentives for technological innovation. Trade encourages economies to discover ways to specialise so that they can become more productive and earn higher incomes. However, not all economies can benefit from free trade because they do not all have the means to technological progress or enough knowledge. In conclusion, economic growth is an important topic because it has such a significant impact on the welfare of many people. It is a field of active research, in which ideas are constantly being processed; new models are built, debated and tested. One can see that all determinants are interlinked and contribute to a long-term economic growth.

Dell Corporation SWOT Analysis

Dell Corporation SWOT Analysis SWOT Analysis Dell Computer Corporation was founded by Michael Saul Dell in 1984 with their simple premise as the basic foundation that personal computers could be built and sold directly to customers and by doing this, Dell could address their specific needs and provide the best computing solutions that meet those customers needs. (Cuizon G., 5 March 2009) Basically, Dell is using Direct Method which provides two advantages: 1. reducing marketing and sales cost by eliminating markups of distributors and retailers and 2. building to order reduced inventory costs and risks of retaining inventories. (Cuizon G., 5 March 2009) Dells Direct Model is the main reason why Dell has achieved its high status in business today. This tactical model enables Dell to interact with customers directly providing them with fast, reasonably-priced and friendly means of production and distribution. (Cuizon G., 5 March 2009) (S)trengths Dell is one of the largest technological corporations (PC maker) in the world that develops, manufacture, sell and support personal computer, laptops and other computer peripherals. (Mba tutorials, 22 December 2009) Dell is ranked at number 38 on the Fortune 500 in 2010. Fortune also ranks it as the Number 5 most admired company in computer industry. Dell has large acquisitions and mergers. For example acquisition of Perot Systems in 2009 and Alienware in 2006.  (Mbalectures, 20 October 2010) Besides that, The Dell brand is one of the best known and renowned computer brands in the World. (Marketing Teacher, 2010) Dell has experienced management and leadership. For example Michael Dell who is presently the computer industrys longest-tenured (CEO) chief executive officer. Dell is also a highly inventive company in its industry and has very strong E-commerce and supply chain management. Dell is the biggest firm in the Austin and second biggest non-oil corporation in Texas and fifth la rgest in Texas by revenue. (Mbalectures, 20 October 2010) As we know, Dell is using Direct Model which contributed the success to Dell by enabling the company to offer direct relationships with customers such as corporate and institutional customers. Their strategic method also provides other forms of products and services such as internet and telephone purchasing, customized computer systems; phone and online technical support and next-day, on-site product service. (Cuizon G., 5 March 2009) Now, in a market that is ever changing, competitors are challenging Dell with new and unique products in an effort to overcome the superiority of the Direct Model. (Docstoc, 2010) This extensive choice of products and services is absolutely one of Dells strengths to compete with its competitors. (Cuizon G., 5 March 2009) The growth and development of laptop computers is a primary area in which Dell can work for continued success, despite the threats posed by its competitors. (Docstoc, 2010) Clearly, many of the Dells strengths come as results of the Direct Model. The model itself could be considered one of the companys greatest assets. However, a few specific advantages are gained from through the Direct Model relative to the laptop market. (Docstoc, 2010) First of all, the Direct Model allows the consumers to fully customize their laptops. The market is becoming more educated, now more than ever individuals want a product that can target their specific needs. In the case of laptops, this means that customers want more choices in terms of both performance and profitability. (Docstoc, 2010) By understanding customers needs and preferences is important strength of the company, Dell has cut out the retail seller and sells directly to the customers with no use of a middle man. Dell has made it possible for all customers to have the chance to fully customize their product. (Docstoc, 2010) In term of capture data on its loyal consumers, Dell is using information technology and Customer Relationship Management (CRM) approaches. Thus, a customer could selects a generic PC model, and then adds items and upgrades until the PC is kitted out to the customers own specification. Components are made by suppliers, never by Dell. (Oppapers, 2010) In addition to this customization, the Direct Model benefits the customers with fast delivery of products. This allows customers to place their order, and receive their customized computer often within days. Both these advantages are the greatest assets in targeting the home-user market segment. (Docstoc, 2010) Besides the fast delivery, Dell also offer their customers the ability to track their delivery. (Quality Assurance Solutions, ND) Customers can keep track of their delivery by contacting customer services which is based in India. The finished goods are then dropped off with the customer by courier. Dell has total command of its supply chain. (Oppapers, 2010) Dell also has an advantage in their inventory turnover time, and in their well established relationship with their suppliers. (Docstoc, 2010) These just-in-time (JIT) producing approach creates huge cost savings by minimize the costs, which Dell can pass on to its customers. (Mbalectures, 20 October 2010) As a result, Dell produces the products which is customized, low-priced and deliver to the customers door within days. (Docstoc, 2010) Dell has differentiated itself from competitors by providing potent systems to the customers at competitive prices. (Mbalectures, 20 October 2010) By low assembly costs by using relatively cheap labour(Oppapers, 2010), low manufacturing costs(Quality Assurance Solutions, ND), and also boasts the industrys most efficient procurement, manufacturing, and distribution system allow Dell to offer the customers powerful systems at competitive prices. (Cuizon G., 5 March 2009) Besides that, Dell has strong customer base too. Dell is targeting the business executive category by approximately two-third of Dells sales is generated from government agencies, large corporations and educational institutions. (Mbalectures, 20 October 2010) In other words, Dell has already created long-term relationship with large companies, and this provides most of their business. These companies, in turn, pass the relationship on through their employees, providing them with Dell products. (Docstoc, 2010) (W)eaknesses The significant weaknesses of Dell is fail to attract the market of college student segment. (Docstoc, 2010) Dells sales revenue from educational institutions such as colleges only average of 5% in total. Due to much focuses on business customers, it affected its ability to form relationships with educational institutions. (Cuizon G., 5 March 2009) And, as many students purchase their PCs through their school, Dell is clearly not in a position to take advantage of the college market. (Docstoc, 2010) Dealing with huge amount of supplies of products and components from many different countries can causes Dell some embarrassment when products are recalled. (Oppapers, 2010) For example, great troubles in quality, manufacturing and services.  (Mbalectures, 20 October 2010) Dell. In 2004 Dell had to recall 4.4 million laptop adapters because of a fear that they could overheat, causing electric shocks or fires. (Oppapers, 2010) Another weakness of Dell is there is no diversification and the company is only focusing on the PCs business. (Mbalectures, 20 October 2010)  Dell is a computer maker, not a computer manufacturer. (Oppapers, 2010) In other words, they build computers, not develop them. (Quality Assurance Solutions, ND) Dell buys from a group of concentrated hi-tech component producers. Whilst this is a great advantage in terms of business processes, allowing Dell to focus on marketing and logistics, the company is reliant on a number of large suppliers, and to an extent is locked in for periods of time. For example, due to the lack of large suppliers in the World, Dell unable to switch supply. (Oppapers, 2010) In term of home users, Dell have the serious problem on its direct method and customization approach. (Cuizon G., 5 March 2009) First, customers cannot go to retailers, try a few different products, and walk home with a computer all in a single trip because of Dell does not use distribution channels. (Docstoc, 2010) The very differentiates thing if Dell from its competitors, customization also creates a problem in that customers just cant buy Dell as simply as other brands. It is because each product is custom-built according to their specifications and this might take days to finish. (Cuizon G., 5 March 2009) And due to this, many computer buyers are wary of a product that they cannot personally examine it before purchasing. In addition, some of the anxious buyers would have no patient to wait for their products to deliver for a number of days. (Docstoc, 2010) Moreover, Dell also has weakness on its technology. (Mbalectures, 20 October 2010) It   have no proprietary technology to offer the market , Dell is currently using the technology which are shared by the other major competitors. (Mba tutorials, 22 December 2009) Besides that, it changes its technology at very fast rate. (Mbalectures, 20 October 2010) (O)pportunities Personal computers are becoming a necessity nowadays. Demand for laptops is also growing much faster than desktop computers. As a matter of fact, demand for laptop has overtaken the demand for desktops. This is create a great opportunity for Dell to grow in all other segments. (Cuizon G., 5 March 2009) Besides that, the trend toward more educated buyers also provide great opportunity for Dell by increasing the number of second-time buyers. (Docstoc, 2010) Second-time buyers would most likely avail of Dells custom-built computers because as they have purchased computers in the past know what they want, so do their need to experiment or use some additional computer features. (Cuizon G., 5 March 2009) Here, Dell makes use of the Direct Model which can provide the framework for customers to make truly personalized computers in a relatively hassle-free environment. (Docstoc, 2010) Furthermore, improvement in technology will help Dell to introduce efficient-manufacturing systems which will decrease the production cost. (Mbalectures, 20 October 2010) For example, increased communication and technological integration, such as Internet create good opportunity for Dell because all the customers can now go to visit Dells website to place their order or to get information. Since Dell does not have retail stores, the online stores would surely make up for its absence. It is not only benefits to Dell, but all the customers. It gives the customers convenience to shop online than to actually drive and do purchase at a physical store. (Cuizon G., 5 March 2009) Another opportunity for Dell would be maintain the excellent lead that was taken by the founder of Dell, Michael Dell will be challenging. (Quality Assurance Solutions, ND)Kevin Rollins replaced Michael Dell in 2004 as Dells Chief Executive Officer. Dell remained the companys Chairman. Despite founder Dells massive success, new blood and a change in management thinking could lead the company into a new and more profitable time. Dell was born in 1965, and founded Dell in 1984 with $1000 whilst studying at the University of Texas. He became the youngest Fortune 500 CEO in 1992, and will be a tough act to follow. (Marketing Teacher, 2010) Diversification in related and unrelated business, such as softwares, broadband, security devices, and PC software are some of the rapid growing segments in Dell company. (Mbalectures, 20 October 2010) Besides, innovation makes Dell to introduce many new products to its range which includes printers, toners, LCD televisions and other non-computing goods in order to respond to the rapid changing industry. Thus, Dell is competing against iPod and other consumer electronics brands. (Marketing Teacher, 2010) Furthermore, sustaining low-cost leadership is also an important opportunity for Dell. (Mbalectures, 20 October 2010) Dell is branding and selling low-cost, low-price computers to PC retailers throughout the world in order to open other avenues of branding opportunities. (Quality Assurance Solutions, ND)The PCs are unbranded and should not be recognised as being Dell when the consumer makes a purchase. Rebranding and rebadging for retailers, although a departure for Dell, gives the company new market segments to attack with the associated marketing costs. (Marketing Teacher, 2010) Thus, Dell has opportunity to sell computer directly to retailers. (Mba tutorials, 22 December 2009) (T)hreats The single biggest problem of Dell is the competitive rivalry that exists in the PC market globally. (Marketing Teacher, 2010) Dell is facing strong competition in the industry, such as IBM and Intel to sustain its market share. (Mbalectures, 20 October 2010) As with all profitable brands, retaliation from competitors and new entrants to the market pose potential threats. As we know, Dell sources from Far Eastern nations because of the low labor costs, but there is nothing stopping competitors to follow what Dell is doing, such as sourcing the same or similar components from the same or similar suppliers. Remember, Dell is a PC maker, not a PC manufacturer. (Marketing Teacher, 2010) In a volatile market such as personal computers, threats abound. Computers change in a constant sometime daily basis. New software, new hardware and computer accessories are introduced at a lightning speed. Thus, the innovation is essential for Dell by always looking out for new things or introducing new computer systems to the market. The threat to become outmoded is a pulsating reality in computer industry. Not only that, companies are also facing the challenge to produce products that are high in quality but low in price. (Cuizon G., 5 March 2009) Therefore, one of the biggest external threats to Dell is the increasingly lower prices for products amount their competitors (Quality Assurance Solutions, ND) and make the price difference among brands is getting smaller. Although Dells Direct Model attracts customers because it saves cost, other companies are also able to offer their products at low costs which could threaten Dells price-conscious growing customer base. Since the prices of the brands are identical, price difference is no longer an issue for a customer. Therefore, they would choose other brands rather than waiting for the delivery of Dells customized computers. (Cuizon G., 5 March 2009) Due to the growth rate of the computer industry is slowing down, Dell which has the biggest share of the market has also slows down the demand of its products. If the demand slows down, the competition will become stiffer in the process. Dell has to work doubly hard to differentiate itself from its substitutes, such as Ipad which introduced by Apple Corporation in order to continue holding a significant market share. (Cuizon G., 5 March 2009) Technological advancement is a double-edge sword. It provides an opportunity but at the same time a threat for Dell because advancement in technology outmoded the manufacturing facilities as well as the company. (Mbalectures, 20 October 2010) Low-cost leadership strategy is no longer an issue to computer companies therefore it is important for computer companies to stand out from the rest of competitors. Therefore, in order to compete with others, Dell has to always keep up with its technological advancements. (Cuizon G., 5 March 2009) Besides that, due to being global in its marketing and operations, Dell is exposed to fluctuations in the World currency markets. Although it is a very lean organization, orders do have to be placed some time ahead due to their company size or value. (Marketing Teacher, 2010) Changes in exchange rates could make the companys global business exposed to potential losses in certain parts of its supply chain. (Quality Assurance Solutions, ND)

Writing an Essay :: Writing an Essay

How to Write an Excellent Essay Excellent essays get results. A well-written essay can earn you a scholarship or entrance into your favorite college. Many essays win contests and prizes and encourage others to live better lives. Well written essays turn the hearts of the people. Early America was motivated to fight for freedom from England because of the writings of Thomas Paine, Benjamin Franklin, and Thomas Jefferson. Your well-written essays might be printed in newspapers and make a positive impact in the lives of others. You can change cold hearts and encourage fellow believers by your written words. To write a good essay, one must have a particular point to make. A well-written essay includes an interesting point to ponder in the introduction, an assortment of solid facts to emphasize the point in the body, and a strong summation in the conclusion. If you are writing for a contest or scholarship, then the topic suggestions may be given to you. If you are practicing writing essays and you cannot come up with a topic, try writing emotional statements. Here are some ideas: I hate abortion! Income tax is against the Constitution! There is NO speparation of church and state in the Bill of Rights! Israel has the right to defend itself from terrorism.... etc. Start your essay with a grabber statement, quote or question. Be sure that you hook your reader’s attention. Expound on your opinion or your concern with a few sentences explaining your point of view. The next part of your essay needs to have clean clear facts to back up your powerful point. Here is where you can quote other people. A good essay does not always have to be only about your own opinion. You will be more effective if you integrate other’s opinions or facts and data to back up your point of view. Try to give a few facts with a sentence or two to explain each fact with clear supporting points. Be sure to use good connecting phrases to connect your facts. For example, begin with your main point and why you are concerned. * Excellent Essays Get Results The need to write excellent essays is more important today than ever. Well-written essays can earn scholarships, change hearts and open doors once closed by bigotry and prejudice. Then start explaining your position by writing clear exact facts or well documented solutions to the problem.

What is Leadership? :: Management

Depending on who you ask, you will receive get replies as to what leadership is all about. Is a leader: †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  someone who gets the job done? †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  someone who get other people to follow them? †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  someone who has great management skills? †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  someone who inspires people? The list could be longer, and the responses, as we mentioned, even more diverse, depending on whom you ask. Someone once said: â€Å"If you want to know if you are a leader, look around and see if anyone is following you†. Whilst this may be a good test in one sense, it is probably a too simplistic answer to the question. It is more likely to cause problems than provide an answer or a solution. To stop and look around when you have been going in a particular direction is fine if there are people following you; the problem arises when you look around and see that no one is following you! Kouzes and Posner mention in their book that there are five practices of exemplary leadership: †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Model the Way †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Inspired a Shared Vision †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Challenge the Process †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Enable Others to Act †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Encourage the Heart They have also conducted a survey across six continents to identify the characteristics of admired leaders, and it is interesting that the top four characteristics are: 1.  Ã‚  Ã‚  Ã‚  Ã‚  honest  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  88%  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  A93% 2.  Ã‚  Ã‚  Ã‚  Ã‚  forward-looking  Ã‚  Ã‚  Ã‚  Ã‚  71%  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  A83% 3.  Ã‚  Ã‚  Ã‚  Ã‚  competent  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  66%  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  A59% 4.  Ã‚  Ã‚  Ã‚  Ã‚  inspiring  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  65%  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  A73% In the area of honesty, integrity and character were often linked together in people’s minds. Forward-looking was to do with a sense of direction, awareness of the future.

Last poem Essay

Dogen was greatly surprised by the fact that making a strong accent on the study of koan Chinese masters did not teach their disciples Buddhist sutras, which made the core study in Buddhist monasteries in Japan (Tanahashi, 5). Dogen’s discontent with the style of teaching became even a reason of his refusal to take Dharma transmission from one of the masters. In 1225 Dogen decided to leave Rinzai school of Chan Buddhism and started his journey in order to visit Ru-jing, whose style of Zen teaching differed from ones which disenchanted Dogen. Ru-jing was the thirteenth patriarch of Soto lineage of Zen Buddhism. During that time he lived at Tiantong Mountain in Nongbo. Soto school, presented by Ru-jing made an accent on sitting meditation, or zazen. In general it used much softer methods than Rinzai School did. Studying Zen with Ru-jing Dogen has finally reached enlightenment of mind and body. The legends state that he finally reached liberation after hearing the Master’s words: â€Å"Cast of body and mind† (Tanahashi). These words became especially meaningful for Dogen and he later used them in many his writings. As he states in one of his works: †To study the Way is to study the self. To study the self is to forget the self. To forget the self is to be enlightened by all things of the universe. To be enlightened by all things of the universe is to cast off the body and mind of the self as well as those of others. Even the traces of enlightenment are wiped out, and life with traceless enlightenment goes on forever and ever† (Kim, 195). In 1227 Dogen received Dharma transmission from Ru-jing and finally admitted that he has reached the answer for the question of all his life. Dogen was greatly influenced by his teacher Ru-jing. All Dogen’s religious philosophy is marked by two major tendencies. The first peculiarity of all Dogen’s teaching is his attachment to Buddhism tradition and second one is a strong accent on individual search. These tendencies can be traced not only in Dogens’s books but also in his lifestyle. Dogen did not reject traditional Buddhism. He only wanted people to give critical evaluation of its doctrines and principles. Dogen criticized competition among different schools of Zen because they were tiring Buddhism to pieces. He proclaimed identity of faith and believed it could have been found in Soto Zen. He did not even want to apply the name Zen for his sect and did his best to follow his teacher’s lifestyle living without attachment to anything. In 1228, after reaching enlightenment, Dogen returned to Japan. He came back to ti Kennin-ji, a monastery where he spent several years learning from Eisai and his successors. After coming back he wrote a detailed description of sitting mediation called Zazen. The manual was called Fukan Zazengi, which can be translated as â€Å"Universally Recommended Instruction for Zazen. † His teaching appealed to many people and he gathered a lot of adherents around himself. After some time he had to leave Kennin-ji because of tension, which arouse inside the Tendai community. This tensions with caused by the desire of Buddhist leaders to suppress new forms of Buddhism, including Zen. Dogen left Kinnin-ji temple in 1230 and moved to empty temple situated to the south from Kyoto in the place called Uji (Tanahashi , 40). Dogen founded small temple in this place and soon this temple grew into Kosho-Hirniji Temple. The tension between Dogen and Tangai community did not stop, though. That is one of the reasons Dogen gladly accepted Hatano Yoshishige’s proposition to relocate to Echizen province, located far from Kyoto. After relocation Dogen’s disciples built a new center for Zen practice and called it Daibutsuji Temple. Dogen later renamed this center to Eihei-ji. This temple remains one of the most popular Zen temples in modern Japan. Dogen spent all his further life living and teaching in this temple. Shogun regent Hojo Tokiyori invited Dogen to come and teach him Zen in 1247. Dogen accepted this invitation and made a long journey to Kamakura in order to meet Shogun and retuned to Eihei-ji the next year. In 1252 Dogen became seriously ill and after realizing that he was not going to recover he gave his robes to his favorite disciple Koun Ejo. This way Koun Ejo became Abbot of Eihei-ji. After appointing Koun Ejo an abbot Dogen left for Kyoto looking for remedies from his illness. The remedy was not found and Dogen died in 1953. Soon before death he wrote his last poem.

Pope Leo XIII-Rerum Novarum Essay

Encyclical is a letter from a Christian leader, particularly the pope, which is intended for general distribution among churches. The tern originally applied to some of the letters written by Saint Paul and early church writers called Apostolic Fathers that were sent to many churches. After the time of the Apostolic Fathers, bishops wrote encyclicals to the churches in their care. In modern times, encyclical has come to mean a letter written by the pope to Roman Catholic churches throughout the world. These letters have addressed such topics as church teachings, church discipline, current social and moral issues, peace, the rights of workers, and the plight of people living under oppression. Pope Leo XIII With the election to papacy by Leo XII in 1878 comes a new age in the history of the Roman Catholic Church. His reign was the second longest in papal history. Only Pius IX served longer. Leo wrote many encyclicals. One of the most famous was Rerum Novarum which he wrote in May 15, 1891. The aforementioned encyclical upheld the rights of labor. Pope Leo XIII sought to convince liberal administrations that it is possible for the church and the state to live in harmony. During his papacy, particularly intense anti-church feelings were expressed by Italy, France, and Germany. The pope was successful in reducing the liberal administrations limitations against the church. However he was a failure in Italy and France. If truth be told, in 1880, new anti-church laws were submitted by the French government. Such laws eliminated the church from several other areas of French lifestyle, prohibited religious education in academic institutions, and banished religious orders from the country. On the other hand, in Italy, oppositions against the church were expressed by both the government and its citizens. The pope started a new policy of maintaining an open communication between the church government and the daily life of the Catholics. To achieve this end, he authored several writings addressed to the Catholic community. His pronouncements covered different subjects ranging from the relationship between the state and the working class, theology and church decrees, Bible teachings, and philosophy. Rerum Novarum was his most important statement on social questions. Leo was open to new forms of government, but he still remained suspicious of democracy. In a letter to United States Catholics in 1895, he warned against seeing the American separation of church and state as an ideal for all nations. In 1899, he addressed another letter to the American church condemning Americanism, a movement that had many followers in France and Italy. It was an adaptation of such American concepts as religious liberty and the need to adjust the presentation of Catholic teachings to modern ideas and practices. Leo was born in Carpineto, Italy, near Rome. His given and family name was Giocchino Vincenzo Pecci. Rerum Novarum The expansion of factories and industry in the nineteenth century created a class of wealthy owners, a class of industrial workers, and a host of new social problems. The socialists proposed that the state should take over the factories from private ownership. In this official papal statement, Pope Leo XIII sought a middle ground, recognizing the oppression workers could suffer but rejecting the abolition of private property as a solution. In the Catholic tradition, Pope Leo XIII thinks of a job primarily as a way to support one’s family, not as a calling in itself – and this may be a more realistic approach to factory work. Rerum Novarum is conservative on issues of the father’s place in the family, but it was and is radical on issues of labor and capital. Rerum Novarum is the magna carta of Catholic social endeavor. Subtitled as â€Å"On Capital and Labor,† this encyclical expressed the Roman Catholic Church’s response to the labor tensions and social instability which have emerged in the advent of industrialization and ultimately marked the beginning of socialism. The Pope articulated that the function of the state is to maintain social justice by upholding the rights of the citizens, while the church must make a stand on social concerns to demonstrate proper social principles as well as to guarantee class harmony. Leo XIII reiterated the church’s ancient teaching concerning the central value of the rights to private property, but acknowledged, in one of the most popular passages of the encyclical that moral considerations must temper the free operation of market forces. Even while Rerum Novarum adheres to position of the conventional teaching regarding the duties and rights of property and the employee-employer relationship, it employs the ancient teachings particularly to current conditions. Describing the plight of the working class as an introduction, the encyclical then disputes the false Socialist philosophies and protects the right of private ownership. The real solution, as prescribed by the pope may be obtained through the united action between the employee, the employer, the state, and the church. The church as it should be is concerned in the social matter because of its moral and religious outlooks. The state, on its part has both the duty and right to interfere in the name of individual and social welfare and justice. Moreover, the workers and their employers should coordinate in separate and joint relations for their common protection. All of these were laid out with substantial details to address the main issues and interactions of social and industrial life. Further identifying the Catholic Church with labor, while vehemently criticizing socialism, Pope Leo XIII released the first of the social encyclicals. In 1891, eight years after the death of Karl Marx, Pope Leo XIII begins this encyclical by describing the industrialization in terms consistent with socialist analysis. In describing this process of industrialization, Pope Leo XIII clearly sympathizes with the plight of the common laborers who must sell their labor in exchange for less than a just wage to owners of the means of production who are not equally compelled to enter this contractual relationship. He recognizes that workers must unite and organize if they are to restore the power imbalances between laborers and the owners of the means of production. He clearly rejects a socialist revolution; instead, he calls for reforms that would mitigate the negative effects of the free market. He argues that socialism is misguided for at least two reasons. First, he states that the socialist cure, eliminating private property, is unjust for those owners of the means of production who have acquired their property through legitimate means. Second, workers would actually be worse off, he argues, if in the name of justice they lost their freedom to use the fruits of their labor as they pleased. Perhaps, no other proclamation on social concerns reached a wide audience or enjoyed broad influence. Rerum Novarum inspired an extensive Catholic social writings, as many non-Catholics regarded it as one of the most sensible and explicit pronouncements ever made concerning the issue in question. At times dismissed as vague, this encyclical is as precise as any text could be written for a number of nations in varying levels of industrial progress. Even while Rerum Novarum had formed a part of the established Catholic teachings for several years now in no way had it ever been expressed with distinct articulation and authority. Over the years, humanity has come towards a realization of how hard it is to describe the complete requirements of justice in terms of wages, a continuously growing number of persons turn to the message sent by the pope as the most successful and valuable principle of industrial justice that has ever been expressed in recorded history. The significance of Rerum Novarum lies in its clear depiction of the troubles confronting the urban poor during the 19th century. Also, this encyclical was remarkable for its condemning open capitalism. One of the solutions it recommended were the creation of trade unions as well as the introduction of collective bargaining, chiefly as a substitute to state intervention. It also acknowledged that the poor deserves to be considered when addressing social concerns. Such consideration is stressed by the concept of â€Å"preferential option for the poor† which is a contemporary Catholic principle. God’s special preference for the poor was initially expressed in Pope Leo’s Rerum Novarum.

The China Coin Chapter Questions

Leash's thought give us flashbacks to their earlier, happier life together when Leash's dad was alive. What does Lea remember? (39-40) What does she feel is happening to Joan in China? (pages 50-51). Shanghai: Chapters 7-8 10. What does Lea learn about China's history during the argument with the party Official on the train? (pages 56-57) 1 1 . What happens to Lea in Shanghai? How does Billie use language to create tension and excitement in this incident? Give quotes from the story to support your answer. 12. Lea and Joan see a demonstration of students on their way to the boat.What do they learn about why they are demonstrating? (page 67) The Journey up the Yanking: Chapters 9-11 13. What does Lea learn about why her mother decided to come to China so soon after her father's funeral? (pages 75-76) 14. â€Å"It's over. † Lea took Jean's hand and squeezed. â€Å"We've been through a lot, eh? † What does this quote tell us about how Lea is changing and growing up? (page 8 2) Turtle Land (Red star) Village: Chapters 12-27 15. Lea changes her attitude to her Chinese identity. How do we know? What do you think causes her to change? (pages 105-112) 16.Lea is becoming milliamp with traditional Chinese villages. Draw a picture of the village. Label the picture. (page 106) 17. What does Eek tell Lea about why he and the students are protesting all over China? 18. What does Lea learn about how See's father died? What are See's feelings about his fathers' death? (pages 1 18-1 19) 19. On her way to visit Joan in the hospital Lea thinks about her relationship with Joan. What does she realize and what does this tell us about how Lea is changing? (page 1 37) 20. Lean and Joan come together in a new understanding. What do they realize about why they have come to China? 38-139) 21 . Where do Lie Nan and Lea find the other half of the coin? What is the significance of Leash's reaction when she says- â€Å"This is family/' (pages 139-140) 22. Lea has come to accept her Chinese identity. What has she learnt while she has been in the village and what does she say about being Chinese? (page 158) 23. What is happening in Beijing? What does Lea feel about the struggle of the students? (pages 144-145) Beijing: Chapters 27-32 24. What does Lea see in Attainment Square? (pages 165-169) 25. What does Lea discover about what happened to the students in Attainment Square? (pages 176-178) 26.When Lea returns to look for Eek she is confronted by a soldier with a gun. What happens in this terrible scene? (pages 181-182) 27. Lea and Joan learn from the students in the hotel the facts of what happened in Attainment Square. Summaries what happened. (187-188) 28. What does Lea see the coin as symbolizing about China? (page 189) 29. Why are Joan and Lea crying at the end of the book? What does the phrase the two women clung together' tell us about the way Lea has changed on her journey through China? 30. What kind of ideas about Belonging is explored in the char acter of Eek? Give reasons for your answer.

Managing Profitable Customer Relationship

Chapter 1 Marketing: Managing Profitable Customer Relationships GENERAL CONTENT: Multiple-Choice Questions 1. Central to any definition of marketing is _____. a. demand management b. transactions c. customer relationships d. making a sale e. making a profit (Answer: c; p. 5; Easy) 2. All of the following are accurate descriptions of modern marketing today, except which one? a. Marketing is creation of value for customers. b. Marketing is customer satisfaction at a profit. c. Selling and advertising are synonymous with marketing. d. Marketing involves building and managing profitable customer relationships. e. None of the above statements is true. (Answer: c; p. 5; Easy)3. Like NASCAR, successful companies recognize a crucial dimension of an outstanding marketing company to be _____. a. a strong customer focus b. a relentless pursuit of customer needs c. customer relationships built by everyone in the organization d. all of the above e. none of the above (Answer: d; p. 5; Moderate)4. _____ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through value creation. a. Selling b. Advertising c. Barter d. Marketing e. None of the above is correct. Answer: d; p. 5; Challenging)5. Society and culture sh ape the basic form of human needs called _____. a. needs b. wants c. demands d. value e. an exchange (Answer: b; p. 6; Moderate)6. When backed by buying power, wants become _____. a. social needs b. demands c. physical needs d. self-esteem needs e. exchanges (Answer: b; p. 6; Easy)7. The fundamental reason America’s most admired firms, including Southwest Airlines and Harley-Davidson, conduct extensive research is to _____. a. maximize profits b. increase market share c. increase sales d. understand customers’ needs, wants, and demands e. undermine competitors Answer: d; p. 6; Moderate)8. _____ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs. a. Selling myopia b. Marketing c. Selling d. Marketing myopia e. Share of customer (Answer: d; p. 7; Moderate)9. American brand icons, including Harley-Davidson, Coca-Cola, and Nike, create deep brand meanings for consumers and do not suffer from _____. a. short-term losses b. long-term losses c. competitive threats d. marketing myopia e. planning problems (Answer: d; p. 7; Moderate)10. _____ are key building blocks for developing and managing customer relationships. a.Consumer expectations and customer satisfaction b. Customer choices and product offers c. Product performance and customer value d. Customer value and customer satisfaction e. Strategic plans (Answer: d; p. 8; Challenging)11. NASCAR’s primary obsession is to deliver a special _____ to every customer. a. assortment of products b. book store c. experience d. set of recommendations e. car (Answer: c; p. 7; Moderate)12. All of the following phrases reflect the marketing concept, except which one? a. We don’t have a Marketing Department, we have a Customer Department. b. We make it happen for you. c. We stay close to customers. d. Putting profits ahead of customer needs is critical to the health of the firm. e. Customers are important. (Answer: d; p. 11; Easy)13. An example of a(n) _____ is when a customer pays Circuit City $250 and receives a television set in return. a. exchange b. transaction c. market d. segment e. scam (Answer: b; p. 9; Easy)14. _____ is the set of actual and potential buyers of a product. a. A market b. An audience c. A group d. A segment e. An exchange (Answer: a; p. 8; Moderate)15. Which of the following phrases reflects the marketing concept? a. The supplier is king. b. Marketing should be viewed as hunting and not gardening. . This is what I make, won’t you please buy it? d. This is what I want, won’t you please make it? e. None of the above. (Answer: d; p. 11; Challenging)16. The art and science of choosing target markets and building profitable relationships with them is called _____. a. marketing management b. positioning c. segmentation d. selling e. managing the marketing effort (Answer: a; p. 9; Moderate)17. _____ is(are) the set of benefits a company promises to deliver its consumers to satisfy their needs. a. A money-back guarantee b. Low prices c. Good customer service d. A value proposition e. An attribute (Answer: d; p. 9; Moderate)18. All of the following phrases reflect a firm’s value proposition, except which one? a. Altoids is positioned as â€Å"the curiously strong mint. † b. Porsche promises driving performance and excitement. c. Cheer laundry detergent promises powerful cleaning at all temperatures. d. All of the above are correct. e. None of the above is correct. (Answer: d; p. 9; Moderate)19. The _____ is a useful philosophy in situations when the product’s cost is too high and marketers look for ways to bring it down. a. selling concept b. product concept c. production concept d. marketing concept e. A and D (Answer: c; p. 10; Challenging)20. Henry Ford’s philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This reflects the _____. a. product concept b. marketing concept c. marke ting mix d. production concept e. selling concept (Answer: d; p. 10; Moderate)21. To avoid traffic gridlock in large metro areas, _____ is undertaken to encourage commuters to carpool and use mass transit. a. target marketing b. market segmentation c. demarketing d. marketing e. the production concept (Answer: c; p. 9; Challenging)22. Selecting which segments to serve is called _____. a. market segmentation b. positioning c. customization . target marketing e. managing the marketing effort (Answer: d; p. 9; Moderate)23. When Wal-Mart profitably targets buyers who value savings, it is an example of _____. a. convenience b. value pricing c. market segmentation d. target marketing e. value packing (Answer: d; p. 9; Easy)24. All of the following phrases reflect the definition of target marketing, except which one? a. Disney targets persons in all stages of the life cycle. b. Porsche profitably targets affluent professionals. c. Dollar Stores profitably target families with modest means. d. The Book of the Month Club customizes offers based on a member’s previous selections. . Charlie Cheese Pizza Factory targets children. (Answer: a; p. 9; Moderate)25. â€Å"Build a better mousetrap and the world will beat a path to your door† reflects the _____. a. production concept b. marketing concept c. selling concept d. product concept e. target marketing (Answer: d; p. 10; Challenging)26. Which operating philosophy is practiced by the American Red Cross to solicit blood donations? a. The marketing concept. b. The product concept. c. The production concept. d. The selling concept. e. None of the above. (Answer: d; p. 10; Challenging)27. Firms follow the _____ when they face overcapacity. a. product concept b. elling concept c. production concept d. marketing concept e. A and C (Answer: b; p. 10; Challenging)28. Railroads were once operated based on the thinking that users wanted trains rather than transportation, overlooking the challenge of other modes of tra nsportation. This reflects the _____. a. product concept b. production concept c. selling concept d. marketing concept e. none of the above (Answer: a; p. 10; Moderate)29. According to the authors of your text, _____ is viewed not as â€Å"hunting,† but as â€Å"gardening. † That is, a firm has to find the right products for its customers. a. selling b. production c. marketing d. retailing e. dvertising (Answer: c; p. 11; Moderate)30. The _____ starts with the factory, focusing on the company’s existing products; it calls for heavy selling and promotion to obtain profitable sales. a. marketing concept b. production concept c. product concept d. selling concept e. company advertising (Answer: d; p. 10; Moderate)31. According to the authors of your text, fast-food restaurants offer tasty and convenient food at affordable prices; they contribute to a national obesity epidemic that harms consumer health and causes environmental problems in the long run. This stateme nt reflects that they often overlook the _____ business philosophy. . marketing concept b. product concept c. production concept d. societal marketing concept e. new-idea (Answer: d; p. 11; Moderate)32. The set of marketing tools a firm uses to implement its marketing strategy is called the _____. a. promotion mix b. product mix c. marketing mix d. TQM e. marketing effort (Answer: c; p. 13; Moderate)33. _____ is defined as the customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers. a. Customer relationship management b. Customer satisfaction c. TQM d. Customer perceived value e. Marketing myopia (Answer: d; p. 4; Easy)34. Building, keeping, and growing profitable value-laden relationships with all customers of a company is called _____. a. customer lifetime value b. customer perceived value c. customer relationship management d. database marketing e. societal marketing (Answer: c; p. 14; Ea sy)35. Delivering superior customer value and customer satisfaction are the two keys to building lasting _____. a. customer satisfaction b. customer databases c. market share d. customer relationships e. profits (Answer: d; p. 14; Moderate)36. All of the statements below reflect the definition of customer-perceived value, except which one? . Alex brought home his Lexus for $45,000; he luxuriated in the handling and smell of the leather interior. b. FedEx offers reliable package delivery at a reasonable price. c. The benefits of undergraduate tuition at state schools are judged to be reasonable and fair in comparison to competing private schools. d. The benefits of diet soft drinks are judged to be reasonable and fair in comparison to other types of soft drinks. e. All of the above are correct. (Answer: e; p. 14; Moderate)37. FedEx offers its customers fast and reliable package delivery. When FedEx customers weigh these aforementioned benefits against the monetary and psychic costs o f using the service, they are acting upon _____. a. loyalty b. relationship marketing c. perceived customer value d. social relationships e. a societal marketing campaign (Answer: c; p. 14; Challenging)38. Airlines offer frequent flier marketing programs to build value and satisfaction into the customer relationship. Using this approach, airlines add _____ to the customer relationship. a. social benefits b. structural benefits c. financial benefits d. excitement e. add-ons (Answer: c; p. 15; Challenging)39.Many banks are leading the way in using customer profitability analysis to weed out losing customers and target winning ones for pampering. This is called _____. a. customer relationship management b. positioning c. database marketing d. selective relationship management e. prospecting (Answer: d; p. 16; Challenging)40. Through _____, many companies today are strengthening their connections to partners all along the channel, from raw materials to components to final products that are carried to final buyers. a. supply chain management b. direct marketing c. partnership relationship marketing d. customized marketing e. deviated marketing Answer: a; p. 19; Easy)41. Pooling resources with other firms in order to succeed beyond managing the supply chain illustrates the _____ partnership. a. management contracting b. licensing c. supply chain management d. strategic alliance e. exporting (Answer: d; p. 19; Challenging)42. Stew Leonard, owner/operator of supermarkets, reacts adversely to losing a single customer sale. He feels that this amounts to losing the entire stream of future purchases that a customer is likely to make if he/she remains in the area. This is an illustration of _____. a. share of customer b. market share c. profitability d. customer lifetime value . market share maintenance (Answer: d; p. 20; Challenging)43. Amazon. com leverages relationships with its 35 million customers by offering them music, videos, gifts, toys, consumer electronics, and office products, among other product items. Based on previous purchase history, the company recommends related CDs, books, or videos that might be of interest. This helps Amazon. com capture a greater _____. a. market share b. customer lifetime value c. share of customer d. profitability e. customer base (Answer: c; p. 21; Challenging)44. _____ is the total combined customer lifetime values of all the company’s customers. . Share of customer b. Customer lifetime value c. Customer equity d. Profitability e. Share of market (Answer: c; p. 21; Challenging)45. Current sales and market share reflect a firm’s past performance while _____ reflects the future. a. customer lifetime value b. share of customer c. profitability d. customer equity e. growth rate (Answer: d; p. 21; Moderate)46. Banks classify customers into one of four relationship groups, according to their potential profitability and projected loyalty. JPMorgan Chase Bank wishes to examine its database and identif y customers who are profitable but not loyal. According to the authors of the text, it plans to use promotional blitzes to attract the group called _____. a. barnacles b. true friends c. strangers d. butterflies e. fools (Answer: d; p. 23; Challenging)47. The ultimate aim of customer relationship management is to produce _____. a. customer equity b. market share c. sales volume d. a reliable database e. profits (Answer: a; p. 21; Moderate)48. Which of the following statements about how the Internet is impacting lives everywhere is most accurate? a. Companies are cautiously using the Internet to build closer relationships with customers and marketing partners alike. . The Internet is still in its infancy with few consumers buying products/services online. c. The Internet allows anytime, anywhere connections to information, entertainment, and communication. d. If consumer e-commerce looks promising, business-to-business e-commerce is just plain declining. e. A and B (Answer: c; p. 26; Easy)49. The rapid pace of _____ has allowed companies to greatly expand their geographical market coverage, purchasing, and manufacturing. a. technology b. change c. travel d. globalization e. none of the above (Answer: d; p. 26; Moderate)50. Perhaps the most dramatic new technology today is _____. a. Microsoft Windows XP b. AOL c. the Internet d. all of the above e. none of the above (Answer: c; p. 26; Easy)51. Ben & Jerry’s challenges all stakeholders, including employees, top management, and even ice cream scoopers in their stores, to include concern for individual and community welfare in their day-to-day decisions. Actions by companies to do well by doing good reflects _____. a. ethics b. social responsibility c. profit marketing d. marketing e. myopia (Answer: b; p. 28; Moderate)52. When a church targets different demographic groups to increase attendance, it is an example of _____. a. for-profit marketing b. ot-for-profit marketing c. mindless marketing d. ethics in marketing e. societal marketing (Answer: b; p. 28; Moderate)53. The goal of customer relationship management is to produce _____. a. revenues b. profits c. customer equity d. a database of customers e. all of the above (Answer: c; p. 21; Moderate)54. To create customer value and build strong customer relationships, marketers know they cannot go it alone. Hence, in order to succeed in the long run, they practice _____. a. partner relationship management b. database marketing c. designing attractive websites d. customer equity e. all of the above (Answer: a; p. 19; Challenging)55. The success of a firm hinges upon the performance of the entire _____. a. marketing department’s effort b. supply chain c. product mix offerings d. organizational structure e. industry (Answer: b; p. 19; Moderate)56. The authors of your text classify customers into one of four relationship groups, according to their profitability and projected loyalty. _____ characterize the group with the highest pro fit potential and strong loyalty. a. Barnacles b. Strangers c. Butterflies d. True believers e. Best friends (Answer: d; p. 23; Easy)57. _____ is the act of obtaining a desired object from someone by offering something in return. . A transaction b. Exchanging c. Bribing d. Valuing e. Donating (Answer: b; p. 8; Easy)58. In the case of excess demand, _____ may be required to reduce the number of customers or to shift demand temporarily or permanently. a. marketing b. demarketing c. value marketing d. surplusing e. all of the above (Answer: b; p. 9; Easy)59. The _____ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do. a. product b. production c. selling d. equity e. marketing (Answer: e; p. 11; Easy)60.The _____ concept holds that firms must strive to deliver value to customers in a way that maintains or improves both the consumer’s and society’s wel l being. a. marketing b. selling c. product d. societal marketing e. equity (Answer: d; p. 11; Easy)61. The _____ of a Taco Bell customer exceeds $12,000. a. market share b. CRM c. customer lifetime value d. share of stomach e. salary (Answer: c; p. 21; Moderate)62. For which of the following reasons are marketers everywhere using the Internet? a. To build closer relationships. b. To access new marketspaces. c. To attract new customers. d. To show off their technological skills. . A, B, and C (Answer: e; p. 26; Easy)63. You have learned at work that today’s successful companies at all levels have one thing in common: they are strongly customer focused and heavily committed to _____. a. obtaining the best CEOs b. increasing wealth to stockholders c. marketing d. employee motivation e. earning profits (Answer: c; p. 5; Moderate)64. The twofold goal of marketing is to attract new customers by promising superior value and to _____. a. keep and grow current customers by delivering satisfaction b. keep and grow current customers by delivering competitive pricing c. eep and grow current customers by delivering friendly service d. keep and grow current customers by delivering vast product assortment e. all of the above (Answer: a; p. 5; Moderate)65. You have learned from experience as well as from this course that the most basic concept underlying marketing is that of _____. a. selling and advertising b. customer satisfaction c. retaining customers d. human needs e. fulfilling consumer wants (Answer: d; p. 6; Easy)66. As a new assistant marketing manager trainee, you learn in an orientation meeting that _____ are the form human needs take as they are shaped by culture and individual personality. . wants b. demands c. self-concepts d. desires e. icons (Answer: a; p. 6; Easy)67. What do companies call a set of benefits that they promise to consumers to satisfy their needs? a. marketing offer b. value proposition c. demand satisfaction d. need proposition e. evoke d set (Answer: b; p. 9; Moderate)68. Most firms practice the selling concept when they face _____. a. a crisis b. a recession c. fierce competition d. overcapacity e. marketing myopia (Answer: d; p. 10; Moderate)69. Herb Kelleher of Southwest Airlines used the marketing concept in his successful organization.His perspective of having a customer department uses a(n) _____ perspective. a. outside-in b. external c. inside-out d. modern e. traditional (Answer: a; p. 11; Challenging)70. Customer-driven marketing usually works well when _____ and when customers _____. a. a clear need exists; are easy to identify b. customers know what they want; can afford it c. a firm can deliver the goods desired; are thoroughly researched d. a clear need exists; know what they want e. a want exists; cannot afford it (Answer: d; p. 11; Challenging)71. The societal marketing concept seeks to establish a balance between consumer short-run wants and consumer _____. . short-run costs and profits b. short-ru n ethics c. long-run welfare d. health e. value propositions (Answer: c; p. 12; Moderate)72. _____ is an important concept when we realize that losing a customer means losing more than a single sale. It means losing the entire stream of purchases that the customer would make over a lifetime of patronage. a. Heuristics b. Net profit c. Customer lifetime value d. Relationship marketing e. Market share (Answer: c; p. 20; Moderate)73. Customers buy from stores and firms that offer the highest _____. a. value for the dollar b. customer perceived value c. level of customer satisfaction . company image e. A and C (Answer: b; p. 14; Challenging)74. Is the following statement true? Clearly, the more loyal the firm’s customers, the higher the firm’s customer equity. a. No. b. Yes. c. Maybe. d. Cannot tell accurately. e. Only if the value proposition is understood. (Answer: b; p. 21; Easy)75. Many not-for-profit organizations are facing huge operating deficits that they must cove r by more aggressive _____. a. volunteer service b. customer service c. advertising d. donor marketing e. social marketing campaigns (Answer: d; p. 29; Moderate) True/False76. Selling is managing profitable customer relationships. Answer: False; p. 5; Moderate)77. Product, price, place, and promotion make up the elements of a firm’s marketing mix. (Answer: True; p. 13; Easy)78. The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction. (Answer: True; p. 5; Challenging)79. Human needs are shaped by culture and individual personality. (Answer: False; p. 6; Moderate)80. When backed by buying power, wants become demands. (Answer: True; p. 6; Moderate)81. When backed by buying power, needs become demands. (Answer: False; p. 6; Moderate)82. Marketing offers are limited to physical products. (Answer: False; p. 7; Moderate)83. Marketing offers include products, services, information, or expe riences offered to a market to satisfy a need or want. (Answer: False; p. 7; Moderate)84. When sellers focus on existing needs and lose sight of underlying customer wants, they suffer from marketing myopia. (Answer: False; p. 7; Challenging)85. An exchange is the core concept of marketing, whereas a transaction is marketing’s unit of measurement. (Answer: True; p. 8; Moderate)86. Marketers of products, services, and ideas only practice marketing, whereas buyers do not. Answer: False; p. 8; Moderate)87. Who is our target market and what’s our value proposition are two important questions underlying marketing strategy. (Answer: True; p. 9; Moderate)88. Market segmentation is the process of seeking fewer customers and reduced demand for profit maximization only. (Answer: False; p. 9; Challenging)89. Demarketing is a marketing philosophy focused upon product differentiation and positioning. (Answer: False; p. 9; Moderate)90. The production concept and product concept are t wo philosophies that can both lead to marketing myopia. (Answer: True; p. 10; Challenging)91. When railroad companies thought that users wanted trains rather than transportation and overlooked the growing challenge of other modes of transportation they were following the selling concept. (Answer: False; p. 10; Moderate)92. Most firms follow the production concept when they face overcapacity. (Answer: False; p. 10; Challenging)93. The societal marketing concept calls on marketers to balance consumer wants and desires, company profits, and society’s interest. (Answer: True; p. 12; Moderate)94. Customer Relationship Management (CRM) is nothing more than a customer data management activity. (Answer: False; p. 14; Moderate)95. Delivering superior customer value and customer satisfaction are the two keys to building lasting customer relationships. (Answer: True; p. 14; Moderate)96. Customer value is defined as the customer’s evaluation of the perceived difference between all the benefits and all the costs of a marketing offer relative to those of competing offers. (Answer: True; p. 14; Moderate)97. Customer-perceived value depends on the product’s perceived performance relative to a buyer’s expectations. (Answer: False; p. 14; Moderate)98. The simplest definition of modern marketing is managing profitable customer relationships. (Answer: True; p. 5; Easy)99.The difference between human needs and wants is that needs are states of felt deprivation. (Answer: True; p. 6; Easy)100. Smart marketers look beyond the attributes of the products and services they sell. They create brand experiences for consumers. (Answer: True; p. 7; Moderate)101. Marketing management is interested in serving all customers in every way to remain competitive in today’s markets. (Answer: False; p. 9; Moderate)102. At times it becomes necessary to reduce demand for some products and services. When the government tries to reduce smoking of tobacco products, it ad ds more tax to the products and is practicing demarketing. Answer: True; p. 9; Easy)103. Amy’s law office has developed a new format and wording for wills. The staff believes they offer the most in quality, performance, and innovative features. Her law office is practicing the production concept. (Answer: False; p. 10; Moderate)104. The selling concept holds that consumers will not buy enough of the firm’s products unless it undertakes a large-scale selling and promotion effort. (Answer: True; p. 10; Easy)105. The major difference between customer-driving marketing and customer-driven marketing is that the former considers only existing needs. Answer: False; p. 11; Easy) Essay106. Explain the five marketplace concepts. The core marketplace concepts are: needs, wants, and demands; marketing offers; value and satisfaction; exchanges, transactions, and relationships; and markets. Addressing customer needs and want is at the very heart of the marketing concept. The four el ements of the marketing mix help firms meet the challenges of value creation, customer satisfaction, and to establish meaningful and profitable relationships. (p. 6; Moderate)107. Explain how marketers create brand experiences beyond selling products/services. Strategic thinking underlies creating meaningful and purposeful experiences and relationships for customers. In creating brand experiences, marketers have successfully demonstrated that to differentiate their offer from their competitors, they have to connect with their customers at various levels. (p. 7; Moderate)108. Compare the selling and marketing concepts under which organizations carry out their marketing strategies. List the key components of each philosophy. The selling concept reflects an inside-out philosophy and the marketing concept takes an outside-in perspective. The selling concept is practiced when firms face overcapacity. When consumers do not buy enough products on their own, companies coerce them into buyin g more by undertaking a large-scale selling and promotion effort. The marketing concept, on the other hand, is a three-pronged philosophy based upon: satisfaction of customer needs and wants, integration of resources both within and outside the firm,, and profit maximization. (p. 10; Easy)109. What is the societal marketing concept? Explain. According to this concept, firms today and in the future will survive if they take underlying consumer needs and society’s well being into account over the long term. In setting their marketing strategies, marketers today need to balance company profits, consumer wants, and society’s interests. From day one, when marketing decisions are made, firms need to put people and society before profits. (p. 11; Easy)110. One of the major developments in marketing can be summed up on one buzzword: relationships. Define customer relationship management and its associated strategies for building long-term relationships. Customer Relationship M anagement (CRM) is the process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.Companies develop customer relationships with target markets at multiple levels. The most basic form of a relationship for mass-marketed products/services is through a Web site, sales promotion offer, or a 1-800 customer-response number. At the other end of the spectrum, companies like Amazon. com create full partnerships with key customers. Other marketers work closely with retailers, for example. Some marketers use tools such as financial benefits like rewards based on frequency of purchase. Other tools include social benefits, like offering key customers the opportunity to network and create communities.Another approach adds structural ties to the aforementioned financial and social benefits. Hence, to retain current customers and remain profitable, companies today are going beyond transactional marketing to customer relationship mana gement. The key is to create and sustain relationships for the long term. (p. 14; Moderate)111. The aim of customer relationship management is to create not just customer satisfaction, but customer delight. Explain. Customer satisfaction cannot be taken for granted. Because brand loyalty is dependent upon strong customer satisfaction, companies strive to retain current customers.Losing a customer once might mean losing the customer for life. Firms like Taco Bell and Home Depot, for example, look at a stream of purchases a customer is likely to make over his/her lifetime. Therefore each sale is critical to the long-term success of a relationship. Because the ultimate aim of customer lifetime value is to create share of customer, firms today create customer delight by over delivering and creating emotional relationships with key customers. (p. 15; Moderate)112. Define customer equity. Customer equity is the sum of the lifetime values of all the company’s customers. Customer equ ity is dependent upon customer loyalty by a firm’s profitable customers. Because customer equity is a reflection of a company’s future, companies must manage it carefully. (p. 21; Easy)113. Explain how the Internet has transformed the way in which we do business today. The Internet links individuals and businesses of all types to each other. â€Å"Bricks and Mortar† companies of the past are now â€Å"clicks and mortar† companies today. Manufacturing firms today are linked to their suppliers and customers to build closer relationships. The Internet allows firms access to exciting new marketspaces. The Internet has spawned an entirely new breed of â€Å"click only† companies—the so-called â€Å"dot-coms. † The post-Internet frenzy of the late 1990s has introduced companies that are both savvy and face promising futures. (p. 26; Easy)114. Describe the impact of globalization on marketing today. Marketers everywhere have been surrounded by global competition for over two decades now. Regional trade agreements, such as NAFTA, have transformed competition and economic cooperation today. Geographical and cultural distances, in addition, have shrunk with the advent of technology, the Internet and new product introduction. Domestic firms in countries such as India have had to contend and compete with U. S. multinational firms for market share, revenues, and profits. Firms worldwide are sourcing their products from different corners of the globe. (p. 26; Moderate)115. Analyze the major challenges facing marketers heading into the new â€Å"connected† millennium. Marketers must connect faster and better with customers. The latest technologies must be used to ensure delivery of time-based competition. Web sites and e-commerce must be fine-tuned to connect with more carefully selected customers.Many companies are connecting directly with customers to customize their mix of products and services. Partnership relations hip and supply chain management must be built with strategic alliances to make those domestic and global challenges. (p. 28; Moderate)APPLICATION CONTENT: Multiple-Choice Questions116. Shawn McCork has an interesting job. He is involved in getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. What is Shawn’s job? a. General manager. b. Supervisor. c. Marketing manager. d. Sales manager. e. Top manager. (Answer: c; p. ; Challenging)117. The marketing manager at Sunshine Car Washes is holding a training session for new employees. She stresses that perhaps the most important concept of modern marketing is _____. a. customer relationship management b. e-mail advertising c. a quality Web site d. properly trained sales people e. low prices (Answer: a; p. 9; Moderate)118. Greg Williams now has the buying power to purchase the computer system he has wanted for the last six months. Greg’s want now has become a _____. a. need b. necessity c. demand d. satisfier e. none of the above (Answer: c; p. 7; Easy)119. After surveying all 3,500 customers by e-mail, Best Value Stores learned that its customers favor high quality, performance, and innovative features. Best Value’s customers were surveyed about _____. a. product concept b. production concept c. customer satisfaction d. marketing concept e. promotion concept (Answer: a; p. 10; Challenging)120. Jolene’s firm believes that consumers will not buy enough of the firm’s products unless the firm undertakes a large-scale selling and promotion effort. Jolene’s firm is practicing the _____. a. production concept b. marketing concept c. selling concept d. relationship concept . social advertising campaign (Answer: c; p. 10; Easy)121. Jonathan Nash works in sales for a telemarketing firm. His firm uses the selling concept, which take a(n) _____ approach. a. outside-in b. myopic c. inside-out d. marketing concept e. customer servi ce (Answer: c; p. 11; Easy)122. Marie Ortiz enjoys her work at Futuristic Designs, Inc. Her organization understands customer needs even better than customers themselves do and creates products and services that will meet existing and latent needs, now and in the future. Marie’s firm practices _____ marketing. a. customer-driven b. customer-driving c. elationship d. donor e. none of the above (Answer: b; p. 11; Challenging)123. You find yourself in a new job. Your marketing manager is heavily involved in the process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction. Your manager is concerned with which one of the following? a. Database management. b. Web site hits. c. Relationship management. d. Donor marketing. e. Customer relationship management. (Answer: e; p. 14; Moderate)124. Tommy Gray attempts to deliver customer satisfaction every day in his Audio Expressions installation business. He is a smart operat or who knows that the key to this goal is to match _____ with _____. a. customer expectations; competitive prices b. company performance; competition c. customer expectations; company performance d. company performance; unique products e. relationship building; promotional tools (Answer: c; p. 14; Moderate)125. You have just read a report that alarms you. According to the American Customer Satisfaction Index, which of the following conditions exists relative to overall customer satisfaction with U. S. manufacturing and service industries? a. It has increased slightly. b. It has increased very much. c. It has remained steady. d. It has decreased slightly. e. It has decreased dramatically. (Answer: d; p. 20; Easy)126. Shania works hard with her Internet customers to create an emotional relationship for her customers with the products and services that she and her staff sell. She and her staff have created _____ by going beyond the expected. a. customer delight b. customer satisfaction c. customer equity d. customer value e. customer loyalty (Answer: a; p. 14; Challenging)127. Karrie Romanov wants to capture the full essence of customer relationship management. Which of the following will Karrie take into consideration? a. Own the customers for life. b. Capture their lifetime value. c. Building overall customer equity. d. All of the above. e. None of the above. (Answer: d; p. 14; Moderate)128. Some firms find themselves in markets with many low-margin customers. As assistant marketing director, what type of relationship would you develop with these customers? a. Full partnerships. b. Basic relationships. c. Relationship marketing. d. Key customer marketing. e. Lifetime value. (Answer: b; p. 15; Moderate)129. You have just read a report in a leading business magazine. It stated that the major marketing developments as we enter the new millennium can be summed up in what single theme? a. Relationship marketing. b. Connecting. c. Partnering. d. Networking. e. Custom er equity. (Answer: b; p. 23; Challenging)130. You have just been told by your supervisor at work that a new economy has emerged. What is the technology behind this new force? a. The Internet. b. Web sites. c. Voice mail. d. Cell phones. e. Simultaneous engineering. (Answer: a; p. 26; Easy)131. Pete Sanchez has just realized something that he needs to tell his marketing manager at work. Pete knows that today few firms still practice rue _____. a. production orientation b. sales orientation c. mass marketing d. quality orientation e. marketing segmenting (Answer: c; p. 16; Moderate)132. Suzie Chan strengthens her company’s connections with partners all along the supply chain. What type of management is she using? a. Outside partnering. b. Supplier connecting. c. Mentoring. d. Supply chain. e. Channeling. (Answer: d; p. 19; Easy)133. ABC Corporation realizes that they need partners to go beyond supply chain management. What do we call this association? a. Strategic alliances. b . strategic planning. c. Partnering. d. Mutual reciprocity. e. Reengineering. Answer: a; p. 19; Moderate)134. Sally purchased Brand X lotion. In analyzing the product’s perceived performance against her expectations, Sally was measuring her level of _____. a. customer perceived value b. customer satisfaction c. exchange d. demand e. customer lifetime value (Answer: b; p. 14; Moderate)135. Members of the sales team at Dekko International visit only prospective customers who purchase a minimum of $50,000 of insulated wire per year. Dekko is using _____. a. selective relationship management b. a frequency marketing program c. a club marketing program d. demarketing e. a value proposition (Answer: a; p. 6; Easy) Short Answer136. What is the twofold goal of marketing? The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction. (p. 5; Easy)137. Culture and individual personality shape human needs into wants. What transforms wants into demands? Wants become demands when backed by purchasing power. (p. 6; Moderate)138. How might a seller avoid marketing myopia? Sellers should consider the particular benefits and experiences produced by their products, not just pay attention to the specific products they offer. (p. 7; Moderate)139. How might a manufacturer of tents and camping equipment, for example, create brand experiences for consumers? Such manufacturers might produce tents, sleeping bags, cooking equipment, and so forth that allow consumers to benefit from the numerous products available to campers. (p. 7; Easy)140. The main elements of a modern marketing system relies on profitable relationships all along the way. Considering this, what might Wal-Mart rely on in order to offer low prices? Wal-Mart must rely on suppliers that will provide merchandise at low costs. (p. 8; Moderate)141. How might a marketer define its value proposition? In considering its value propos ition, a marketer will look at how the firm can best serve the customers and how it can differentiate itself in the marketplace. (p. 9; Easy)142. When demand for Beanie Babies was at its highest, manufacturers purposefully maintained strong demand by limiting supply that drove price up. Explain how such manufacturers were not carrying out the production concept. The production concept holds that consumers favor products that are available and affordable. With this concept, manufacturers work to increase production and improve manufacturing efficiency. (p. 10; Challenging)143. Company X carries a vast surplus of office supplies; thus, the company follows the selling concept. Explain how customer relationships may be lost in the process. The company’s aim is to sell the supplies rather than make what the market wants; such a strategy creates sales transactions but not long-term relationships. (p. 10; Challenging)144. Many companies, such as Southwest Airlines, take an outside-i n perspective. How do such companies address their customers’ desires? Outside-in companies are customer driven; they find the right products for their customers rather than the right customers for their products. (p. 11; Moderate)145. A nineteenth-century street vendor in London sang, â€Å"Who will buy my fresh, red roses? † Did the vendor take an outside-in or inside-out perspective? Explain. The vendor’s approach was inside-out. The roses were picked and available. The vendor’s job was then to attract willing buyers. (p. 11; Challenging)146. When a vendor has product available and needs to find customers who are willing to buy, is a production concept, product concept, or selling concept being practiced? Explain. A selling concept is used when the vendor has available product and needs to find customers who are willing to buy. (p. 10; Moderate)147. Explain why electronics and pharmaceuticals manufacturers may use customer-driving marketing. In such in dustries, consumers do not know exactly what new products are available; therefore, consumers rely on such firms to tell them what they need. (p. 11; Moderate)148. Company ABC implements its marketing strategy through a well-defined marketing mix. What elements are being addressed in the marketing mix? Company ABC has created a marketing offer (product), determined a selling price, decided how to distribute (place) the offer, and communicated with the target customer about the offer (promotion). (p. 13; Easy)149. Explain how storing customer information in a database might better prepare Saturn in customer relationship management (CRM). Managing detailed information about customers may allow Saturn to design new models around customer demographics and desires for specific features. These â€Å"touchpoints† can be the key to long-term customer loyalty. (p. 14; Moderate)150. What determines whether sellers create basic relationships or full partnerships with customers? A compan y with many low-margin customers develops basic relationships; a company with just a few high-margin customers relies on full partnerships. (p. 15; Challenging)151. Explain how a supermarket owner might consider customer lifetime value when a disgruntled customer leaves the store dissatisfied. The owner may view the situation as a $50,000 loss if, for example, each customer spends about $100 per week, shops 50 weeks per year, and remains in the area for about 10 years. Customer lifetime value includes the long-term value of the customer. (p. 20; Easy)152. How can a marketer increase â€Å"share of customer†? The marketer can offer greater variety to customers; in addition, the marketer can train employees to cross-sell and up-sell in order to market more products and services to existing customers. p. 21; Easy)153. In classifying customers into relationship groups, explain what marketers can expect from â€Å"butterflies. † â€Å"Butterflies† are profitable but not loyal. Marketers should enjoy â€Å"butterflies† â€Å"for the moment† because they soon flutter off. Marketers should create profitable and satisfying transactions with â€Å"butterflies,† then cease investing in them until the next time around. (p. 23; Moderate)154. If a firm practices â€Å"caring capitalism† in its social responsibility efforts, as does Ben & Jerry’s and Saturn, where does the firm place its focus? Such firms distinguish themselves by being more civic-minded and caring; they may build social responsibility into their company value and mission statements. (p. 28; Challenging)155. How is marketing being applied in the not-for-profit sector? Firms in the not-for-profit sector use marketing to enhance their images, to encourage donor marketing to attract memberships and donors, and to design social marketing campaigns to encourage specific causes. (p. 28; Moderate) Scenario Carol Veldt, owner of Seagull Terrace, watched her inv estment grow from a small, seaside motel to a thriving year-round resort in just a few years.Atop a bluff overlooking the Maine coast, Seagull Terrace had attracted thousands of visits during the summer months, but then faced a tremendous downturn in business during the winter months. â€Å"But, given the industry in the nearby towns, very little year-round competition, and our close proximity to Portland,† Carol added, â€Å"I couldn’t understand why seasonality had to hit Seagull Terrace so hard! † So Carol spent her first winter devising a new marketing plan. She put together a promotional package designed to attract business travelers year-round.Carol’s plan, then, involved a seasonal promotional gimmick—to be implemented from late winter to late spring—that would attract the large summer crowd. Her idea worked! During her second winter, Carol greeted numerous business travelers—both satisfied repeat guests as well as new guests w ho had been snagged by her promotional appeals. â€Å"We still have a long way to go,† Carol Veldt admitted. â€Å"Our delicatessen offers delicious entrees, but we’d like to expand that. We provide health club privileges off-site, but we’d like to eventually provide our own. These are goals I hope to achieve in a few years.Our first project, however, included a renovation of our guest rooms and I’m quite proud of the results. † Carol then added, â€Å"Actually there are so many possibilities! With an indoor pool area, I will eventually offer weekend get-aways throughout winter. †156. Based on the marketing process, what are Carol Veldt’s strengths? Carol was able to understand her customers’ needs and wants. She was able to deliver superior value through her marketing program, which created customer delight. (p. 6; Easy)157. What is included in the marketing offering at Seagull Terrace? Seagull Terrace provides activities and amenities that make a night’s stay more satisfying; these various activities and amenities are sought by two targeted groups— seasonal visitors and year-round business travelers. (p. 7; Moderate)158. How is Carol Veldt attempting to create brand experiences for her visitors? Carol is attempting to include numerous services and amenities for her visitors. Eventually, everything the visitors want or need will be offered at Seagull Terrace. (p. 7; Moderate)159. How has Carol Veldt taken on the role of marketing manager? Carol is attempting to find, attract, keep, and grow target customers by creating, delivering, and communicating superior customer value. (p. 8; Moderate)160. Define the target market at Seagull Terrace. Two types of guest are being lured: seasonal visitors during the summer and year-round business travelers. (p. 9; Easy)161. In what ways might Carol Veldt be implementing the product concept? Carol understands that guests will favor services that offer the most in quality and innovative features; Carol’s strategy currently focuses on making continuous improvements. (p. 10; Challenging)162. In what ways might Carol Veldt be implementing the selling concept? Carol understands that the success of Seagull Terrace, as she views it, requires a large-scale promotional effort. (p. 10; Challenging)163. How might the marketing mix at Seagull Terrace differ between its two target markets? Business travelers may be offered a discount business rate; obviously, the promotional tactic will differ for these guests. Summer guests may pay higher rates, but the beauty of Maine’s coast and the beach, as well as Seagull Terrace’s variety of services, will be the main attractions. (p. 3; Easy)164. How will Carol Veldt guarantee customer satisfaction? Carol will attempt to create services and amenities that exceed buyer expectations. (p. 14; Easy)165. Explain how Carol Veldt is engaging in partner relationship management. Explain how t his could be enhanced. Guests at Seagull Terrace currently receive health club privileges at a nearby health facility. Guests during the summer could receive sailboat rentals through such arrangements; year-round business travelers could be given meal discounts at local restaurants, dry cleaning services, and so forth. (p. 19; Challenging)