Benetton’s Innovative Strategy Free Essays

string(37) " supply chain model is given in Fig\." ABSTRACT The business environment of the modern world is very complex and effective business strategy plays an important role in the success of a business firm. The implementation of a strategy at the right time and right place to the right people is the key for success. The firm which succeeds in implementing this can overcome the hurdles of the business environment. We will write a custom essay sample on Benetton’s Innovative Strategy or any similar topic only for you Order Now This report gives the details of the main difference between the conventional and the new Benetton networks focusing on product design, supply and distribution. It also addresses the Benetton’s innovative strategy for designing and managing the global supply network. INTRODUCTION Benetton was a small company started in 1965 for making sweaters for the local retailers. The Benetton story of growth from a small company to one of the worlds largest garment producer is attributed to the establishment of an effective network for the production, distribution and retailing. The company extensively used subcontracting in the production, supply and distribution in the initial phase. As mentioned by Ramdass and Kruger the certainty of business like permanent orders and prompt payment helped them to establish a long standing relationship with the subcontractors. The strategy of outsourcing and effective networking of the subcontractors has reduced the cost of the company in terms of capital investment, labour and processing time. This helped the company to grow in a short span of time as a global leader in garment production. The effect of globalization has slowly changed the style of business of Benetton. In order to have effective control, Benetton started production poles and directly controlled market outlets. The change in the strategy helped the new Benetton to retain the competitive advantage. RELEVANT THEORETICAL CONSIDERATIONS Benetton is an example of an organization which has truly understood the meaning of integrated logistics across boundaries. Benetton has created a borderless world by linking raw material suppliers, 450 manufacturers and 6,000 retailers to deliver 60 million garments a year to satisfied customers in 83 countries (Dapiran, 1992). The Just-in-Time (JIT) method adopted by Benetton in dyeing helped to take care of the rapidly changing fashion in the garment industry.Benetton is doing the dyeing at the last moment of production depending on the latest requirements of the customers which increases the reaction speed and reduces the cycle time of products. They are able to get the latest requirements through the rapid transfer of information using the Electronic Data Interchange (EDI) system which links the market place with the manufacturing process. Benetton also showed that economies of scale is possible in the freight-forwarding function (Dapiran, 1992). It was established through a Worldwide Integrated Distribution Enterprise (WIDE) to control the international forwarding and customer clearance functions. Benetton success is mainly attributed to the strategy of ‘vertical de-integration’ in which they have centralized the processes having highest value addition and decentralized the remaining processes. COMPARISON BETWEEN CONVENTIONAL AND NEW BENETTON NETWORKS a) Product design Benetton Group is one of the worlds largest garment producer with a turnover of 2 billion Euro and 9500 employees (Benetton Group Annual Report 2011, 2011). They are mainly engaged in casual wear business, sports business and complimentary activities. The product design of Benetton is based on the ‘tinto-in-capo strategy’ in which the dyeing is postponed to last stage in order to capture the latest market trends. Benetton always tried to offer same or similar range of products in all the markets. But till the starting of globalization more than 20 percent of models in the casual wear segment were customized to satisfy the demand of each country (Camuffo, Romano and Vinelli, 2001). The models in each country were selected by individual retail agent which has resulted in developing different image for Benetton in different parts of the globe. The increase in the number of models increased the set up time which resulted in under utilization of the available facility. Globalization has changed the style of products offered in the textile industry. The cross country homogenization of consumer lifestyles is observed in the market which encourages the firms to produce global products rather than offering country specific products. This has resulted in changing the product mix of Benetton. There present plan is to offer more limited range of products in all the country. Nowadays only 8 percent of the models are only offered with differentiation suiting to the county specific demand.The reduction in the number of models helps to reduce the set up time which results in better utilization of the facility. In order to keep up with the fast changing market trends, Benetton is offering ‘Flash collections’. The company hopes that eventually flash collections can form 35 to 45 percent of the total products (Camuffo, Romano and Vinelli, 2001). Similarly Benetton has taken steps to streamline the brands. The brands specified for babies, chil dren and expectant mothers were totally eliminated and now it is branded for different age groups. Age groups are divided as children, men, women and expectant mothers. The products for men, women and expectant mothers are coming under the United Colors of Benetton brand which forms 47.6 percent of sales in 2011 as given in Fig. 1. Similarly the brand ‘United Colors of Benetton kids and Sisley Young’ is mainly aimed for children and young people which forms 30.2 percent of sales. Benetton is also doing research in finding new materials which are suitable to the modern world since it can be machine washed and does not need any ironing. This product is mainly aimed to build the Benetton image of global, young and easy to use with high quality and is marketed under the Sisley brand. b) Supply and production The conventional Benetton networks heavily outsourced labour intensive phases of production such as tailoring, finishing and ironing. The outsourced jobs were mainly done by small and medium sized firms in the north east of Italy and the major activities like weaving, cutting, dyeing, quality control and packing was done by Benetton. The conventional Benetton supply chain model is given in Fig. You read "Benetton’s Innovative Strategy" in category "Essay examples"2. In the mid 1990s Benetton has changed the strategy of outsourcing production jobs. They have set up a high tech production facility at Castrette with an area of 100000 square meters. It consists of five technical divisions for wool, cotton, tailoring, shirts and jackets, accessories and shoes. The Castrette pole is responsible for the production of garments and accessories for the casual wear and sports clothing with an overall capacity of 120 million items per year (Camuffo, Romano and Vinelli, 2001). Benetton has adopted the Castrette model in countries like Spain, Portugal, Tunisia, Croatia and Hungary. In all these counties they have set up production poles which are partially or totally owned and directly controlled by Benetton which coordinates the activities of group of SMEs in the particular area. The Castrette pole decides which item is to be produced in a particular foreign pole. The management of production is made in such a way that each foreign production pole is specialized in the production of a particular item and uses the skills existing in the particular area which helps in making a high quality product. Based on this criterion T-shirts are made in Spain and jackets are made in Eastern Europe. Fig. 3 shows the Benetton’s new supply chain model. By the beginning of year 2000 it is found that the production model in Castrette also started changing. The activities like quality control, cutting and dying which are considered to be critical are transferred to subsidiaries and the production pole is mainly concentrating on the elaboration of market sheets for the computerized fabric cutting system using CAD and CAM systems. The market sheets are sent electronically to foreign production sites for cutting prototypes and quality control of intermediate phases. The latest communication technologies have improved the coordination in the supply network which led to better timing of various activities and resulted in reducing the production lead time. c) Distribution and retailing The conventional Benetton network used to sell the products through a number of agents. The agents who sell the product will sign a contractual agreement with shop owners and they are also responsible for developing the market in their area. Benetton provided the necessary services for selling the products. The traditional strategy of Benetton to outsource the retailing to third party was successful. However in the present condition of the market this strategy is not able to sustain their position in the market. The new trend in the retail sector is to set up mega stores with an average size of 1500 to 3000 square meters (Camuffo, Romano and Vinelli, 2001). The average size of Benetton store was only 120 square meters and in order to overcome this difficulty Benetton decided to change the commercial policy and increase the size of the retail outlets. They are increasing the size of the existing retail outlets to display the whole range of Benetton products in the garment, shoe and accessories segment. Wherever expansion is not possible the retail outlet will concentrate on a particular product or segment.They have also opened up retail outlets in prime locations with an average size of 500 to 2000 square meters (Camuffo, Romano and Vinelli, 2001). The retail project started by Benetton aims at making a direct sales network. The network will consists of medium to large size shops owned and managed by the Benetton group. The direct controlled outlets will pose a big challenge to competitors since it is focusing on selling high fashion garments with continuous rotation of product display at the outlets with large display areas. Similarly the latest communication methods allow the Benetton’s directly controlled outlets to directly communicate with the headquarters. This will enable the firm to get an instantaneous picture of sales data and to design and produce items based on the market requirements. BENETTON’S INNOVATIVE STRATEGY a) Supply network re-organisation (upstream and downstream) In the garment sector the supply of raw materials plays a crucial role in deciding the lead time of production and managing supply chain in today’s world is very challenging (Christopher and Lee, 2001). So Benetton has carried out the upstream vertical integration to incorporate the textiles and thread suppliers. Benetton is having 85 percent control on the main supplier of raw materials who is providing 60 percent of woven fabric, 90 percent of cotton knit fabric and 90 percent of carded and combed wool (Camuffo, Romano and Vinelli, 2001). The upstream vertical integration helped Benetton to ensure the quality of the raw materials at the supply stage. This will help to send the purchased raw materials to production centers without any further quality check which will reduce the transportation costs and ultimately cut down the production lead time. In order to achieve total integration of the production cycle, Benetton has invested heavily in automating the logistic processes. This strategy brought down the average time for consignment to seven days and 10 million garments can be sent to all over the world in each month (Camuffo, Romano and Vinelli, 2001). b) Replication of its core capacity (supply chain design and management): After the merger of the Benetton sport systems with the Benetton group, it has to develop methods for managing two different businesses, the casual wear and sports wear/ sports equipment. Benetton has tried to exploit the synergies between the two businesses. Earlier the commercial and marketing activities of the Benetton sport systems were managed by the Benetton sport systems European subsidiaries. This helped to have a close interaction with customers and eliminated all intermediate structures such as trading companies. After the merger, Benetton has tried to optimize the distribution network by developing special areas in large sports shop to display and sell Benetton’s sports equipment brand. Similarly it is making a network of Playlife retail outlets repeating the successful model developed for the casual wear business. Benetton is also planning to develop partnership commercial relations with big specialized distribution chains which allow them to change from make to stock production approach to make to order approach. This commercial agreement known as Blade Express Formula helps to reduce warehousing and obsolescence of products. c) What and where outsourcing Benetton has a networked manufacturing system. So when an order is placed with the company, they will purchase the raw materials and send to the networked manufacturing groups. The company has made the network in such a way that each group is specialized in a particular activity which gives clarity of production, better quality and reduced realization time.The processes like cutting each piece of clothing, stitching, assembly, adding accessories and packaging is coordinated by the manufacturing network so that each has defined role and responsibility (Garcia, 2010). Based on the data of 1990, contracted network carried out 40 percent of wool knitting, 60 percent of assembly and 20 percent of packaging (Garcia, 2010. Benetton also created effective communication methods between the players in the same manufacturing network who produces similar items. So when a supplier runs into problem Benetton does not have to search for suppliers to overcome the reduction in production. The supplier who cannot execute the order will transfer the job to a capable manufacturer in the same network. This method was highly successful and helped Benetton to save 85 percent of costs compared to its competitors. The distribution network of Benetton consists of 85 agents around the world. Each agent is responsible for recruiting the retailers, displaying the fashion collections, processing retailer orders, selecting retail sites, carrying out training and giving the market feedback to Benetton. The agents were getting commission of 4 percent of sales for the job executed by them (Garcia, 2010). Benetton makes an agreement with the retail outlets such that they can sell only Benetton products, display the items according to the guideline and adhere to the price guidelines. In a nut shell the strategic outsourcing decisions of Benetton is as follows: CAD/CAM design, cutting, knitting, dyeing which is highly technical and involves high capital: do in-house. Garment assembly, finishing which involves large labour force: outsource to subcontractors. Raw material purchasing: do in-house. Mass distribution where fast cycle times needed to meet customer expectations with minimal inventories: do in-house. International transportation: outsource to international carriers. Freight forwarding: scale economies and service improvements possible with increasing volumes: change from outsourcing to in-house through joint venture. Global communications network: scale economies not possible with Benetton volumes: outsource to GE Information Systems. Retail stores: involves high capital, labour oriented and requires high customer service levels: outsource to licensees. CONCLUSION Benetton is well known for the bold strategies it has applied in its business model. It started with the networking of production through sub contracting, then entering the foreign markets though franchisees and then starting of production pole in Italy and other parts of the world. The present strategy of Benetton is to make use of modern means of communication and information technology in the field of business especially in marketing and production (Ahmed et al., 2011). In this regard Benetton has started a company United web whose primary job is to manage the e-commerce venture. The primary aim of United web is not to increase the sales but to reinforce the contact with the customers and to make the Benetton products and styles known to a large number of customers. It is seen that Benetton has changed means of business communication with the effective use of internet. Presently they have started e-procurement and online services for the distribution network. The making of ‘new’ Benetton is through the combination of using latest communication methods with the old Benetton strategy of effective networking. REFERENCE LIST Ahmed, I.et al., 2011. Information Technology – Its impact on Global Management. World Applied Sciences Journal 12 (7): pp.1100-1106. Benetton Group, 2011. Benetton Group Annual Report 2011. [pdf] Treviso: Benetton Group. Available at: [Accessed 10 August 2012]. (Camuffo,A., Romano,P., and Vinelli,A., 2001. Benetton Group: The evolution of a network to face global competition. Christopher, M. and Lee, H., 2001. Supply Chain Confidence: The key to effective supply chains through improved visibility and reliability. [pdf] GTM: Vestera. Dapiran, P., 1992. Benetton – Global logistics in action. International Journal of Physical Distribution Logistics Management (1992).Vol.22, Iss. 6; pg. 7, 5 pgs EMCC, 2008. EU textiles and clothing sector: Location decisions. [pdf] Dublin: EMCC. Available at: http://www.eurofound.europa.eu/pubdocs/2008/48/en/1/ef0848en.pdf [Accessed 10 August 2012]. Garcia, J.M., 2010. Benetton and Zara information systems:a comparative analysis. [pdf] Harvard: Organizacion de Empresas. Available at: http://upcommons.upc.edu/pfc/bitstream/2099.1/9456/1/67045.pdf [Accessed 10 August 2012]. Hsia, S. and Chou, J., 2004. A creativity-based design process for innovative product design. International Journal of Industrial Ergonomics 34 (2004) 421–443. Kritchanchai, D. and Wasusri, T., 2007. Implementing Supply Chain Management in Thailand Textile Industry. International Journal of Information Systems for Logistics and Management 2(2): pp.107-116. Lambrecht, M and Vandaele, N., 1994. Queueing Theory and Operations Management. Tijdschrift voor Economie en Management (1994), Vol. 39, 4, 415-424. Ramdass, K. and Kruger, D., 2011. An Analysis into the impact of globalization on the clothing industry in conjunction with the clothing industry in South Africa. [pdf] PICMET2011. Available at: http://uir.unisa.ac.za/bitstream/handle/10500/5666/ramdass.pdf [Accessed 10 August 2012]. BIBLIOGRAPHY Mattsson, L.G., 2009. Collaborative planning in heterarchic supply networks[pdf]. Zurich:Swiss Federal Institute of Technology. Available at: http://e-collection.library.ethz.ch/eserv/eth:30051/eth-30051-01.pdf [Accessed 10 August 2012]. Stark, K.F., Frederick, S. andGereffi, G., 2011. The Apparel Global Value Chain: Economic Upgrading and Workforce Development [pdf]. Duke University: CGGC. Available at: [Accessed 10 August 2012]. How to cite Benetton’s Innovative Strategy, Essay examples

Genesis of Business Model Canvas

Question: Write an essay on Genesis of business model canvas. Answer: Genesis of business model canvas The need for a canvas like framework arose when teaching students with no business knowledge. The need then arose that there should be a framework which gives detail on pre-business planning and ways of concept development. After many iterations, business model canvas came into being after the efforts of Osterwalder. He felt that when Company needs to optimize its activities, having a particular business model is important. It provides a systematic path to launch a new venture. It is necessary to examine all alternatives and their implication thoroughly before pursuing any path. To avoid making guesses and uncertainty in the work process, the business model canvas is the key to implementing strategic business plans. Therefore business model canvas was proposed to compare and contrast plans and determine which the best plan to carry forward is. It allows both a novice entrepreneur and an experienced investor to grab business opportunity within a short period (Sarma Sun, 2016, January ). Unique features of the approach of the Business Model Canvas Osterwalders business model concept features nine building blocks such as value proposition, key resources, key activities, partner network, channels, customer segment and relationship, cost structure and revenue streams. The model describes the proposed channels of distribution of products and services, their value proposition in terms of services offered and their unique advantage. It reveals the key activities for executing value proposition and the network of partners in the particular organization. The canvas gives detail on the target market, type of relationship they want to maintain with customers and the overall cost and expense structure. It also specifies the way a firm will determine its pricing and profit. It is an appropriate framework for developing, documenting and evaluating business plans (Gronum et al., 2015). Comparison with another business model Apart from Osterwalders business canvas, there are other business model frameworks such as Zachman, Porters Value Chain, Microsofts motion and IBMs component business model (Leschke, 2013). The nine building blocks of Osterwalder has been mentioned above. The value chain is dependent on activities like planning, governance, and execution. Though different in approaches, all framework leads to the same goal. The difference lies in the area covered for the functioning of the framework. Some may apply for the whole enterprise while some may just be beneficial for execution part. Other important features in business model map components include entrepreneurial fit, product alternative, and industrial environment (Michelini Fiorentino, 2012). Benefits or limitations of using Osterwalders business model Considering the case of oil industry, the BMC helps to visualise the whole picture of the business and helps to spot the strength and weakness. It offers an opportunity to plan, verify, and iterate. It helps to test the hypothesis and validate with the customers. It gives factors related to products and under ones control. All the business elements revolve around BMC. However, it ignores the strategic purpose of the oil industry and excludes the concept of competition. It is difficult to get the practical experience of manufacturing process. All its nine elements cannot be defined that as some parts are more highlighted than others and priorities cannot be set. The model fails to give the environmental impact of oil industry (Weiller Neely, 2013). Reference Gronum, S., Steen, J., Verreynne, M. L. (2015). Business model design and innovation: Unlocking the performance benefits of innovation.Australian Journal of Management, 0312896215587315. Leschke, J. (2013). Business model mapping: A new tool to encourage entrepreneurial activity and accelerate new venture creation.Journal of Marketing Development and Competitiveness,7(1), 18-26. Michelini, L., Fiorentino, D. (2012). New business models for creating shared value.Social Responsibility Journal,8(4), 561-577. Osterwalder, A., Pigneur, Y., Bernarda, G., Smith, A. (2014).Value proposition design: how to create products and services customers want. John Wiley Sons. Sarma, S., Sun, S. L. (2016, January). THE GENESIS OF FABLESS BUSINESS MODEL: INSTITUTIONAL ENTREPRENEURS IN AN ADAPTIVE ECOSYSTEM. InUnited States Association for Small Business and Entrepreneurship. Conference Proceedings(p. R1). United States Association for Small Business and Entrepreneurship. Weiller, C., Neely, A. (2013). Business model design in an ecosystem context.University of Cambridge, Cambridge Service Alliance.

Marketing mix free essay sample

The marketing mix for a product is a major factor in influencing whether a business can sell it profitably. The marketing mix is made up of seven interrelated decisions ? the 7Ps. The four key ones are product, price, promotion (including advertising and packaging) and place (where and how a product will be sold to consumers). The other 3Ps largely relate to marketing services – people, process and physical evidence. Consumers require the right product. This might be an existing product, an adaptation of an existing product or a newly developed one. The right price is important too. If set too low, then consumers may lose confidence in the product’s quality; if too high, then many will be unable to afford it. Promotion must be effective – telling consumers about the product’s availability and convincing them that ‘your brand’ is the one to choose. Packaging is often used to reinforce this image. We will write a custom essay sample on Marketing mix or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Place refers to how the product is distributed to the consumer. If it is not available at the right time in the right place, then even the best product in the world will not be bought in the quantities expected. Selling services successfully requires people who can interact positively with customers and create the correct impression to encourage them to return. This is particularly relevant in the hotel and restaurant industry. The processes that a business has in place to satisfy customers’ wants reliably and consistently form an important part of marketing services. For example, banks replacing an out-of-date debit card without the customer having to ask for one. Physical evidence means allowing customers to see for themselves the quality of the service being provided. This will reduce the element of risk in buying a service as opposed to a tangible product. For example, a clean and well-presented reception area in a hotel would raise appropriate expectations in the mind of the customer. Not all of the 7Ps have the same degree of significance in every case. It is vital that these elements fit together into a coherent and integrated plan. An appropriate marketing mix will ensure that these marketing decisions are interrelated. They must be carefully coordinated to make sure that customers are not confused by conflicting messages being given about the good or service being sold. These are all examples of poorly integrated marketing decisions. The marketing strategies – shown in bold – lack integration with the rest of the marketing mix and are therefore inappropriate. If the messages consumers receive about a product are confused or lacking in focus, they may fail to recognize the true identity or ‘personality’ of the product. Consumers are likely to reject products where the marketing mix has not communicated a clear and unambiguous message, resulting in fewer long term sales. Marketing Mix free essay sample As the most popular electronics company among consumers in the world, Samsung owns a good reputation. Moreover, Samsung occupies more than 20% of total export in South Korea (Samsungish, 2010). Currently, the innovation and high quality of Samsung’s products are recognized by the whole world (SAMSUNG, 2010a). 1. 2 Theory 1. 2. 1 Market Segmentation Market segmentation means that businesses divide their markets into a few sections with similar features, so that they can target different groups of consumers and produce merchandise or service for them. Market segmentation is classified into four methods which are geography, demography, psychology and behaviors (Hall et al, 2008). Marketing mix Marketing mix is defined as â€Å"those elements of a firm’s marketing strategy which are designed to meet the needs of its customers†. There are four factors which are called 4Ps, and they are product, price, promotion, and place (Hall et al, 2008:75). Aims The objective of this report is to analyze the differences of the market segmentation and marketing mix of LG and SAMSUNG. We will write a custom essay sample on Marketing Mix or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Findings LG LG, a well-known brand around the world, is to sell TVs to rural areas in China (Articlesbase, 2010). Home appliances such as TVs, washing machines, and refrigerators are LG electronics’ major products (LG Electronics, 2010). In addition, LG is adept in using advertisements to attract shoppers (Pakistan amp; Gulf Economist, 2005). SAMSUNG Similarly, Samsung sells its products in the world. It not only sells to cities but also rural areas. In order to privilege consumers, Samsung holds promotional events to attract shoppers. However, Samsung has some products which LG does not produce, such as PC peripherals, print solutions, and memory cards (SAMSUNG, 2010b). Discussion Market segmentation LG An obvious way of segmenting market is geography. LG Electronics sells its merchandise spread all over the world, especially well-known countries, for example, LG digital television in China. Yucheng Zheng (2010), the CEO of LG Electronics (China) Co. , Ltd. , reported that LG launched a project to promote digital television in rural area in China. LG targets at the rural market and provides digital TVs and home applicants for rural consumers. The emphasis of rural segment is â€Å"price competitiveness†. LG is going to reduce the price of its products so that it can develop well (Articlesbase, 2010). SAMSUNG Samsung focuses on rural area as well, for example, the Samsung color TV in rural area and urban area of China. This segment involves â€Å"mass market, low- and medium-end units to rural customers or high-end products to urban customers† (EssayForStudent, n. d). To deal with an extensive product line, a mass market capacitates Samsung to satisfy consumer needs. Because Samsung enters China market late, it faces challenges to be succeeded in mass market. Furthermore, the rural market, which is approximately 80% of the whole market, is aimed by Samsung via the â€Å"low-end units†. However, because of the previous businesses of â€Å"low-cost, low-end color TVs†, Samsung had to exploit a new â€Å"high-end TVs† in urban market. With the remarkable improvement of peoples living standard, the quantity of high-end TVs in urban market in China is increasing though the segment is not big (EssayForStudent, n. d). Marketing Mix LG Product LG pays attention to upper and upper middle classes and provides products for those consumers. High quality and good service of LG products are so progressive that products are output to developed countries (Pakistan amp; Gulf Economist, 2005). LG Electronics (2010) in China shows that the products include TV audio video, mobile phones, home appliances, IT products, and air conditioning (LG Electronics, 2010). Price The pricing strategy of LG is â€Å"cost plus fixed mark up†. Following the pricing policy, LG’s formula is â€Å"import cost + reasonable gross profit†. The formula is used to cover the market cost and make profits in any market including China (Pakistan amp; Gulf Economist, 2005). An LG’s cell phone called Lollipop cost RMB 2,000 in 2009, when it first appeared in China. Promotion One effective way of promotion is advertisement. As a famous brand, LG advertises its products to get promoted (Pakistan amp; Gulf Economist, 2005). LG is accustomed to inviting famous stars to advertise its merchandise. For instance, Kim Tae-Hee, a famous actress, advertised for LG mobile phone and camera. Her advertisements attract young shoppers in China to buy relative merchandise. Place LG’s merchandise is sold throughout the world, especially developed regions. There are numbers of LG retailers in big cities including Guangzhou, Shanghai and Beijing. In addition, LG sells its products in home appliance interlink retail enterprises such as Suning and Gome in China. SAMSUNG Product As same as LG, Samsung also provides mobile devices, TV audio video and home appliances for Chinese shoppers. However, there are some products that LG lacks, such as camera camcorder, PC peripherals, print solutions, and memory cards (SAMSUNG, 2010b). Moreover, â€Å"focusing on the future of wireless communications, Samsung launched futuristic products such as the mobile hone watch, the PDA-phone, the digital camera cum mobile phone, the MP3 mobile phone and its latest model of 3G mobile phone† (123HelpMe, 2010). Price The price of Samsung products is similar with LG. For example, Samsung F480 Mobile Phone, which has â€Å"223 MB Memory, 5 Mega-Pixel Camera with 4 X Digital Zoom†, cost RMB 993-RMB 2,325. Another example, â€Å"Samsung UA40C7000 40 3 D LED TV, which is 40 Screen, Full HD, High Definition, Widescreen, HDMI, Internet, and 1920 x 1080 pixels†, cost RMB 9,320- RMB 15,656 (MyShopping, n. d. ). Promotion Samsung constantly holds sales promotional events. For example, recently, there is an event called â€Å"Samsung Smart TV Promotion† in HongKong. Customers can get a â€Å"FREE Samsung 1TB external Hard Drive and 3D Starter Gift Pack upon purchasing eligible model of 3D LEDTV and 3D LCD TV† from 16th October to 30th November (SAMSUNG, 2010c). The promotion is able to help Samsung expand its sales. Place Samsung sells its products by retailers and home appliance interlinks retail enterprises Suning and Gome as well as LG. Nevertheless, Samsung not only sells products in cities, but also in countryside. Samsung in China took part in a policy named â€Å"home appliances to rural areas† in 2009. This policy was to add profits to the masses that lived in rural areas. Samsung was one of the companies that help rural people improve their living standard. Conclusion In short, the report involves the background of the two competitive companies, theory of market segmentation and marketing mix and comparison between the two companies. Via discussing market segmentation and marketing mix of LG and Samsung, the superiorities of the two companies are obvious to be found. The general strength of Samsung is better than LG, so LG has to be enhanced. Recommendation According to the analyses above, LG is recommended to improve its promotional events so that there will be more consumers to purchase its merchandise. Furthermore, LG is supposed to expand the range of its products to different fields. However, Samsung should classify its segmentation more clearly. As a result, if the two companies reduce the price, the demand of their electronic products will increase. Read more: http://www. ukessays. com/essays/marketing/marketing-mix-of-lg-and-samsung-marketing-essay. php#ixzz2OTcQ9YYp Marketing Mix free essay sample The purpose of this paper is to describe the elements of the marketing mix which is product, place, price and promotion. In addition, selecting the organization whom I work for which is DirecTv and describe how each one of the four elements of the marketing mix impacts the development of DirecTv’s marketing strategy and tactics. This paper will also be describing how each element is implemented. The concept or term of â€Å"marketing mix† became popular after Neil H. Borden published his article in 1964, The Concept of the Market Mix. He later began teaching this term in the late 1940’s. The ingredients in Borden’s marketing mix included product planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. Not long after E. Jerome McCarthy grouped these ingredients into four categories that today are known as the four P’s of Marketing. We will write a custom essay sample on Marketing Mix or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page These marketing decisions generally fall into the following four categories. The first P is product and this term refers to tangible, physical product as well as services. Some examples of the product decisions to be made are brand name, functionality, styling, quality, packaging, and so forth. The second P is Price which includes pricing strategy, suggested retail price, volume discounts wholesale pricing, cash and early payment discounts, seasonal pricing, and so forth. The third P is Place or distribution which is about getting the products to the customer. Some examples include distribution channels, market coverage, specific channel members, inventory management, warehousing, distribution centers, order processing, and so forth. The fourth P is Promotion which represents the various aspects of marketing communication, that is, the communication of information about the product with the goal of generating a positive customer response. Some examples are promotional strategy, advertising, sales promotions, public relations publicity, marketing communication budget and so forth (NetMBA, 2008). TiVo is a brand of digital video recorder that offers numerous functions far advanced than the regular VCR or DVD player. The TiVo recorder has the ability to pause and replay live TV as well as an array of flexible ecording services that is personalized for the consumers. The adoption of TiVo when it was first released was facilitated by the belief that consumers who owned a TiVo black box and subscribed to the TiVo service can take control of what programs to watch and when to watch them. The device attracted consumers who were tired of missing their favorite shows because they were too busy to watch them. TiVo also ena bled people to fast-forward over irreverent advertising. TV watchers can â€Å"pause† a live show to conveniently handle interruptions too. As shown above, the services that TiVo provides allow the consumer to be in control and makes TV viewing â€Å"a lot more enjoyable. † (Global Advertising Strategies, 2008) Television satellite provider DirecTV and TiVo have extended their current non-exclusive partnership to include the development of a new, high definition DirecTV digital video recorder (DVR). The two companies also extended their mutual intellectual property agreements. Financial terms were not disclosed. The deal is expected to bring TiVos broadband and search capabilities to a wider audience. DirectTV currently has more than 17 million subscribers, while, as of July, TiVo had 3. 8 million. In 2005, DirecTV said it would stop marketing TiVo and instead offer a DVR made by NDS, a division of News Corp. With the launch of High Definition, HD receivers along with the DVR features DirecTv are booming with orders for high definition. The packaging of these receivers for DirecTv started in black and the products were made from different companies like RCA, Phillips, Sony, Hughes and so forth. Since the taking of name of DirecTv, the product has since changed now the LEDs illuminate in blue a flashy pizzazz to the product. The casing went from a flat black to silver and back to a glossy black which gives it a bling-bling look you can’t resist. Striving for continuing growth in the US, DIRECTV has been targeting various ethnic communities in the US by expanding its programming lineup over the years. After the success of the initial offering of several Spanish-language channels, the company developed and implemented its WorldDirectc program to provide high-quality, in-language programming to various ethnicities in the United States. By the end of 2005, the company was able to offer its viewers Spanish, South Asian, Marketing Mix free essay sample Coffee is not just selling products, but it is a label. It is a label and a brand that consumers believe in. Starbucks decided to be personal with their customers. Understanding the consumers thoughts became a main goal for the marketing team. The marketing team understands that people want to belong and people want to feel they are being or doing something better than the quote on quote â€Å"others†. To relay these feelings to the customers Starbuck’s Coffee base the appeal on the environment that it provides for the customer. Starbuck’s Coffee expects customers to arrive at a given store, relax at a table, talk, read, listen to music, study and drink coffee. Starbucks also prides it’s self on diversity. Jim Donald, President and CEO of the Starbucks Corporation states, â€Å"When we embrace diversity, we succeed† (www. starbucks. com). Creating The Environment To create this type of environment Starbuck’s Coffee marketing team has placed conversation topics on the sides of each cup to spice up any meeting that one may have. We will write a custom essay sample on Marketing Mix or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Starbuck’s Coffee also allows all customers to have access to the internet which always can prolong a stay. Starbuck’s Coffee guarantee’s the average customer that is visiting a store; quick service with the surety to leave with the strong smell of a coffee house. They are so committed to having their stores feel and smell like a coffee house that they even prohibit their employees from wearing perfume and cologne because it takes away the aroma of the coffee. In addition, Starbuck’s Coffee makes sure that they are environmentally friendly so that it also adds to their image that they are promoting. Kembell, 2002). PLACE Typically their stores are in high traffic locations where people will just encounter the store without having to search. Starbucks is placed in high-visibility locations. These locations are geared with the average building size of 1,500 square feet. This includes office building, shopping malls, grocery stores, and retail centers. These are the type of area’s people love to be in and Starbucks location is an added topping for both retailers and customer’s alike. Starbucks has built relationships and formed agreements with several companies who they see have additional avenues to meeting customers. These companies include but are not limited to Kraft Foods Inc, PepsiCo Inc, and Dreyers Grand Ice Cream. These agreements were made to reach more Starbuck’s Coffee consumers where ever they are. Distribution Starbucks does not limit the company to a physical location. Starbucks distributes there products via mail orders and online web-sites. Both of these avenues are used for the convenience of its customers. Again independent of the customers, anywhere any place when needed Starbucks is ready and available. Promotion Starbuck uses non-traditional forms of advertising. They use local print ads and imagery in movies to advertise. It is all about the label. It is the women on the cup says more than words. You see the label, and you sense the coffee. Price The products/label of Starbucks Coffee has been marketed so well that price is not a matter. People who come to Starbuck’s Coffee are buying the experience. The experience in many ways is priceless. The effects The marketing strategy for products that the marketing team used was branding the full experience. With the use of custom coffee beans, CD’s, coffee cups, signature chocolate, and an out of this world eco-friendly lay out; Starbucks has maintained a brand consumers believe in. The marketing strategy for place that the marketing team used was connecting with other companies to partner up and build relationships and formed agreements with several companies who they see have additional avenues to meeting customers.

7 Dos for Dangling Modifiers

7 Dos for Dangling Modifiers 7 Dos for Dangling Modifiers 7 Dos for Dangling Modifiers By Mark Nichol In each of the sentences below, the noun phrase immediately following the introductory phrase is not the referent for that phrase; you have to keep working through the sentence and locate another noun, or, sometimes, surgically separate a â€Å"(noun)’s (noun)† phrase to isolate the correct one. 1. â€Å"If asked what will reverse the trend, my first response would be cynical but probably accurate.† In this sentence, â€Å"my first response† is being asked a question. The person, not their response, is the target of the query. In this case, introduce a subject into the introductory phrase: â€Å"If I were asked what will reverse the trend, my first response would be cynical but probably accurate.† 2. â€Å"Seen mainly as the brainchild of frontman Jack White, the band’s breakthrough came at the start of the new millennium.† The band’s breakthrough, rather than the band itself, is identified as the brainchild. Here, introduce the subject, follow with the introductory phrase as a parenthesis, and conclude by referring to the details of the breakthrough: â€Å"The breakthrough for the band, seen mainly as the brainchild of frontman Jack White, came at the start of the new millennium.† 3. â€Å"For a representative of a country that is one of the United States’s most important allies in Asia, her language is notably candid.† This sentence suffers from an almost identical problem, except that, instead of a noun with a possessive, it features a possessive pronoun: The solution, however, is different: Convert the possessive pronoun to an ordinary one and attach a pertinent verb: â€Å"For a representative of a country that is one of the United States’s most important allies in Asia, she used language that is notably candid.† 4. As a longtime holiday city, hotel options range widely in Luna Azul. This sentence identifies â€Å"hotel options,† not â€Å"Luna Azul,† the longtime holiday city. To correct this error, reverse the order of these phrases and revise the intervening wording: â€Å"As a longtime holiday city, Luna Azul features a wide range of hotel options.† 5. â€Å"Created in 1972 by the United Nations to stimulate awareness of the environment, San Francisco will be the first North American city to host World Environment Day.† According to this sentence, San Francisco was created by the United Nations in 1972: Depending on the emphasis, start with the city’s name as the subject or recast the sentence to emphasize the observance: â€Å"San Francisco will be the first North American city to host†; â€Å"World Environment Day, created in 1972 by the United Nations to stimulate awareness of the environment, will be celebrated in San Francisco, the first North American city to host the festivities.† 6. â€Å"Clearly organized, each tree receives its own entry in the book that includes its cultivation requirements, uses in its native land, historical anecdotes, and more.† Here, the writer credits each tree with being clearly organized, but the book is the subject, so make it the subject: â€Å"The book is clearly organized, and each tree receives its own entry, which includes its cultivation requirements, uses in its native land, historical anecdotes, and more.† 7. â€Å"Based on a play, you can see its theatrical, neatly formed vignettes unfolding right in front of you.† Art imitates life, and vice versa, but to my knowledge, I’m not based on a play: But it in this case, a movie is: â€Å"It’s based on a play, and you can see its theatrical, neatly formed vignettes unfolding right in front of you.† Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Grammar category, check our popular posts, or choose a related post below:Coordinating vs. Subordinating Conjunctions"Owing to" vs "Due to"5 Examples of Misplaced Modifiers

Write a(4pages) research proposal of Medical Data Security Paper

Write a(4pages) proposal of Medical Data Security - Research Paper Example The need for implementation of medical data security has been brought about by the need to safeguard the sensitive medical data records. As the need to shift to use of electronic patient records arise as opposed to the paper-based record, issues concerning the security of the patient records have emerged. With the rising use of electronic record systems i.e. EMR (Electronic Medical records) to manage medical data, this has brought about the need to on why medical data should be as secure as possible. This note illustrates on the various medical data vulnerability issues which are of key concerns with respect to most EMR systems which finally compromise the security of the medical data. The aim of this research paper is to outline the security threats that harbor /limit the effectiveness efficiency of the security records. The study will narrow down the EMR (Electronic Medical Records system) which has been a great system for managing patient’s data record. From the proposed research study, a viable and empirical solution to counter the security threat posed by the EMR systems which will go to a large extent in ensuring that patients records remain secure and confidential According to a survey conducted in 2003 by the Consumers’ Association and Health n behalf of the NHS Information security showed that there were great concerns with regard to medical data security and they felt that the records were susceptible to many security breaches. The patients in the survey also expressed their concern that their full medical records should only strictly restricted to healthcare as well as the ambulance staff offering the treatment. There was wide support on the safeguards to be put in place which included public sharing agreement, training for NHS staff as well as a confidentiality clause in [3]. A SWOT analysis which was conducted by US Health Care indicated the EMR

Russia Essay Example | Topics and Well Written Essays - 1750 words

Russia - Essay Example Specifically, this paper will discuss and analyze some of the different features of tourism industry in Russia, in order to understand its related factors, determinants, and its influence on other sectors of the country. Geographically, Russia is considered as transcontinental country having its boundaries in both Asia, as well as, Europe. In specific, a larger part of the Russian Federation is extended in northern Eurasia. Moreover, some of the countries that share their borders with Russia are Poland, Finland, Norway, Georgia, China, North Korea, Belarus, Azerbaijan, Latvia, etc. It can be seen that a number of these countries are rich in terms of culture and heritage, which is a kind of benefit for Russia, for being located in a rich cultural region. In terms of borders touching waters, Russia shares its boundaries with the Black Sea, the Baltic Sea, and the Caspian Sea. In addition, it provides sea route with the Pacific Ocean, as well as, the Arctic Ocean. (Jafari, pp. 516, 2003) A country sharing its boundaries with so many land and water locations is considered an immensely benefited location in context of tourism, which is the reason that despite of Russia’s image of battle land and s uperpower, its historical places attract millions of tourists every year. Another reason for selecting Russia particularly for this study is its recognition as the largest country of planet earth covering 17,075,400 square km, and thus, the paper will now try to identify different physical resources that are contributing in appealing millions of inbound, as well as, outbound tourists from different parts of the globe. Almost every country has been blessed with historical treasures, physical features, attractive sites, etc; however, it is essential that such places should be maintained and utilized according to the demands and specialties of particular region. In other words, physical features can be utilized for energy purposes, as well

Racism in Finding Forrester Essay Example | Topics and Well Written Essays - 1000 words

Racism in Finding Forrester - Essay Example Finding Forrester" has elements of class, race, ethnicity and stereotyping and even gender inequality that are featured invariably in the various threads of the story as the director, Gus Van Sant would relate the 2000 movie. The film tries to reproduce what obtains in society in as close to reality as possible. Starting with sociological perspectives, this paper gives a synopsis of the film, progresses on to the story in selective perception mode and picks on incidents of the story featuring these sociological terms with an insight of what happened.In a gritty New York neighborhood, a shadowy but perpetually unseen figure appears behind thin curtains. Rumors abound regarding The Window's identity and story, prompting African-American Jamal Wallace to accept a dare to infiltrate The Window's apartment and bring something out. Jamal is a 16-year-old scholar-athlete and aspiring writer in inner-city Manhattan. When he's not writing in his journal in his bedroom, Jamal and his boys woul d play basketball on a local Bronx street court. They note that they're being observed by someone with binoculars in a nearby apartment building.As Jamal enters the apartment, he is caught in the act and accidentally leaves behind his backpack, which contains his journals. The Scottish reclusive genius writes comments in the notebooks, and drops the backpack through a window.Jamal returns for more lessons. His efforts lead him to get tutored by The Window, with Jamal agreeing not to reveal his whereabouts. The tutor turns out to be a Pulitzer Prize-winning classic novelist, William Forrester, who wrote "the Great 20th Century Novel," Avalon Landing, and had been reclusive for four decades. Forrester is a male Caucasian in his mid seventies. Sociological perspectives Blacks like Jamal are considered inferior by some theorists as a result of flawed genetic traits (Eitzen and Zinn 2004). In The Bell Curve work of Herrnstein and Murray (1994), Blacks are said to be mentally inferior to Whites. Such genetic inferiority, according to Gould (1994) cannot be changed by environmental changes. These theories bordering on biological deficiency, generally are not accepted in the scientific community (Eitzen and Zinn 2004). Media, however, just like films, continue to give attention to the thinking of these theorists. The Movie Race is a huge issue in the film and many stereotypes are made. Jamal Wallace is introduced in the film as a typical Black teenage male who goes to a low class school in the Bronx and really excels on the court as a basketball player. He is looked upon as an amazing Black as though unexpected because of his color. One proof of this is that the teacher (April Grace) calls Jamal's mother in to school, to inform her of her child's amazing abilities. Jamal is also looked at as given to playing or to pleasure because of his class. Although he had wanted to realize his writing ability, the exclusive New York school that had offered him a scholarship, is actually more interested in having Jamal play basketball to improve their school image. He soon learns that after losing several players to graduation, the school is looking to restock the basketball team. In fact, Jamal gets transferred there as a junior, presumably to have him educated. A Black, Jamal is seen to fit in their objectives as Blacks are of a class, easily pliable and more oriented to playing than studying. Or so the prep school thought. Jamal has been characterized also as an underachiever in class. This plot point caters to the stereotype that Black students get bad grades. This is different from the view that Jamal may want to get bad grades to fit in with his bad-grade-getting peers. This is probable and is more of peer pressure among the young which can be found in whatever race. The first view, however, which appears truer as far as the story is concerned, is stereotyping while the second view is non-racial. The first view which