Business Plan for Import Export Company Essay -- Marketing Executive S

Business Plan for Import Export Company This business plan details the launch of a start-up company known as the Import Export Company (IEC). The company functions as a ‘middleman’ in purchasing housewares from manufacturers in China and reselling the products to retail buyers in the US and Canada. The Import Export Company is primarily an independent import/export business. The products we import from China are resold to retail buyers in the US; in addition, we export the products from China directly to retail buyers in Canada. Without maintaining inventory, the company ships the product directly from China to the US and Canada. Our product catalog focuses on housewares products that appeal to trend-minded US and Canadian consumers. Product pricing is geared toward budget-conscious consumers seeking a current look for their homes, without paying upscale prices. In 2003, China was the third largest country trading with the US, importing and exporting a combined $127 billion in goods (US Census Bureau, 2003). As of November 2003, China exported $25.1 billion in goods to the US, up 25.8% over 2002 (US Department of Commerce). The IEC has developed initial relationships with manufacturers and retailers. Our marketing plan targets a market of 160 retailers in the US that specialize in Home Furnishings and Housewares. The company has targeted fifty Canadian retailers that also meet our target market requirements. The owners are contributing $15,000 ($7,500 each) in start-up capital from personal savings, in addition to a loan of $30,000 from friends and family. The loan will be repaid at 6% interest when the company becomes stable in the second year of operations. After initial start-up expenses, the company has a starting Cash Balance of $29,880. The company is forecasting $350,500 in first year sales revenue, with a Cost of Goods projected to be 60%. Cost of Goods directly reflects our targeted 40% profit margin. We anticipate doubling our sales revenue for the first three years of operations as we develop our manufacturing and retail buyer relationships. Sales revenue increases in our second year to $701,000 and $1,402,000 in our third year. The company projects a Net Profit of $40,665 in our first year of operations, increasing to $139,944 in the second year and $317,688 in the third year. Our Cash Flow objective in the first year is ... ...c tax rate. For the purpose of estimating, we have set our tax rate at 20%. We do not forecast collecting sales tax, as our purchases are for resale and not subject to sales or use taxes. We will work closely with our bank, which was selected because of its import and export programs. Initially, we will pursue secured financing options, with the bank advancing funds by using the goods we import as collateral. If we default on our secure financing obligations, the bank takes title of our shipped goods. As we are a start-up company, we will not qualify for unsecured financing until we have established a positive credit record with our bank. We may pursue a revolving line of credit through the Small Business Administration's Special Purpose loan programs for exporters, which would allow us to receive pre-export financing through the U.S. Export Import Bank. We may also pursue factoring options. As a start-up, we are primarily focused on maintaining a positive cash flow position. For this reason, a factor that buys receivables with a cash advance in exchange for a 5% fee may be a viable option. We feel that our target profit margin of 40% provides leeway to work with factors.

Jim Hensen’s “The Dark Crystal” Essay

With its â€Å"animatronics† technology, Jim Henson’s 1982 film, The Dark Crystal, in both form and theme depicts key elements of David Leeming’s description of the hero myth’s rites of passage in The World of Myth: An Anthology. As in Leeming’s rites of passage, in this film the protagonist’s heroic experiences lead him to â€Å"wholeness† and â€Å"full individuation† (220). At the formal level, by concealing puppet strings, providing puppets with exceptionally life-like and fluid motions, and creating convincingly vital puppets, Henson’s detail-rich and realistic animatronics technology allows his puppet-hero, Jen, to grow both beyond his filmic father figure, urSu, as well as beyond the confining puppet strings of the traditional puppet master. Thematically, too, Jen experiences the rites of â€Å"[being] born when . . . needed† (218), of being â€Å"call[ed] to adventure† (219), and of being faced with trials and danger (219), that Leeming discusses as making up the passage into individuation. As Leeming describes, heroes are born when the need for them arises; this usually happens during a dark period in the culture’s history (218). In The Dark Crystal, Jen, who belongs to a nearly extinct race known as Gelflings, is born after the Crystal is cracked and a shard of it is lost. As with Leeming’s â€Å"dark period,† the events initiated by the crystal’s shattering mark the end of a period of light; here the thousand years of the green and goodness of the land once maintained by the Crystal become darkness and ugliness once the crystal is shattered. This dark period is also marked by the claiming of the land by the cruel and evil race of Skeksis. Making this period of the hero’s emergence in the film even darker, the Skeksis, in their attempt to avoid fulfillment of the prophecy that a Gelfling would destroy them, begin to kill all of the Gelflings. Ushering in Jen’s position as the hero who is called, the Skeksis kill his family. Sole survivor from his family, Jen is kept safe by a race of gentle mystics, known as the urRu. This trajectory of birth, threat, and protection likewise follows Leeming’s description of the story line of the hero myth because, wherein â€Å"a further dimension is added by the threat to the young hero’s life† (218-19). Also like the traditional hero myth, Jenson’s film traces the experience of the hero’s â€Å"call to adventure.† In this case, typifying the â€Å"wise old man†Ã‚  archetype (219) Leeming discusses, Jen’s mystic master, urSu, sends Jen to find the missing crystal shard and heal the Dark Crystal. As he will wonder throughout the film, Jen responds to his dying master’s assignment by asking, â€Å"How can I? I’m only a Gelfling.† In his anxiety and near refusal to find the shard, Jen represents another element of Leeming’s description of the hero’s experiences: â€Å"it [the quest] usually begins with a call to adventure. . . . Often the hero refuses the summons. We all resist radical change, and the hero. . . is no exception. ‘Who am I’ to perform such a task† (219). As Leeming indicates, this initial refusal of the adventure is meant to show the hero’s lack of wisdom, confidence, or, â₠¬Å"individuation†; the hero is not yet a whole, individuated, wiser and more confident adult. Jen decides to go on his quest outside of the valley of the mystics after his master dies. Additionally, Leeming explains that the hero’s quest is marked by many trials and confrontations with evil monsters (219). While Jen never actually has to fight or destroy any monsters in order to complete his quest–the common expectation for heroic behavior–he does fit Leeming’s definition in his regular escapes from a range of threats, especially the Garthim, beetle-like creatures â€Å"programmed† by the Skeksis to seek out and destroy all Gelflings. Whereas Jen does not actually confront the Garthim, he is often face to face with them before he turns to run for his life. Also, when he does come face to face with the Skeksis, it is not until he is about to destroy them by returning the shard to its place in the dark crystal. Leeming goes on to explain that â€Å"the monsters †¦ are balanced by sources of strength. Heroes are often guided †¦ by a spirit who takes the form of a fairy godmother, a wise old man, or a wise fool.† (219 ). Jen begins his journey alone, but, as the hero myth tradition dictates, he encounters many other beings that help him on his way. Aughra, a wise, witch-like woman who is said to be born from the rocks and trees before time began, in order that they might have an eye with which to see the world. Aughra gives Jen the crystal shard that he is in search of. She also, before saving him from an attack by the Garthim, gives him the insight he needs to realize how important the successful completion of his journey is. Finally, Jen is given an additional â€Å"source of strength† by another surviving Gelfling named Kira. She is joined by a  dog-like creature named Fizgig, his antics and heroics in the film could place him in the role that Leeming refers to as â€Å"the wise fool†. Kira’s ability to communicate with and receive help from the animals in the story, her tendency to trust her intuition, and her harmonious relationship with the natural environment, all play a pinnacle role in Jen’s ability to complete his journey. Ultimately, with these rites of being born in a time of need, of being called to adventure, and of experiencing great trials, as well as with the animatronics technology, Henson’s Jen, like Gepetto’s famous puppet, Pinocchio, experiences the process of individuation, becoming both whole and (almost) wholly human.

Social Group Inequalities in Canada

The search for a Utopian lifestyle on planet Earth has been the concern of most humans during the course of humanity itself. Immigration and emigration are both everlasting proof of some of the methods humans go through in order to establish newer and enhanced lifestyles, leaving behind misery and lack of opportunity. It is evident to the twenty first century inhabitant, that utopia or a Utopian society is practically impossible to reach. Rather than Utopian characteristics in our society, one can notice wars, illnesses, poverty, famine, disease and notably, inequalities. Inequalities are a major factor which unfortunately cause unhappiness and social separations as well as affect economic growth. Following the release of the Broadbent Institute report in October 2012, â€Å"Towards a More Equal Canada, A Report on Canada's Economic and Social Inequality â€Å", which covers the social and economic inequalities in present day Canada, one can easily be more aware of the problems that the Canadian people face due to unequal factors. In the report, several inequalities are covered including the shrinking of the middle class, the elites capturing growth, greater and increasing income gaps, inequality of wealth, and social group inequalities. Focusing on social group inequalities and using various philosophical principles, we are able to determine the validity and moral importance of this growing problem through the ideologies of Singer, Libertarianism, Utilitarianism, and sufficiency principles. According to the Broadbent Institute report, different social groups have been suffering inequalities in Canada since the nineteen sixties. Social groups such as aboriginal peoples, women, people with disabilities, immigrants, and people from deprived communities or provinces have been targets of unequal social and economical separation from the more fortunate Canadian population, notably the euro descendant man. These social groups earned and still generally earn far less than the average white Canadian citizen. Till this day, gender still defines economical differences, putting women below men with regards to financial earnings. Further more, women in Canada are still dependent on men for financial support as it is the men which earn more, and consequently occupy the majority of the top 1% earners of Canada. In addition to ongoing gender inequalities, newly admitted immigrants and aboriginal people earn far less than the white Canadian due to strict educational accreditation of foreign diplomas, racism, social profiling, and social preferences on behalf of employers. Racialized Canadians are ongoing victims of social and economical deprivation due to preferential systems in the work field, forcing these competent candidates to work in the labor field and live in low-income neighborhoods or secluded deprived areas with little financial opportunity. As an ongoing social and economical problem in Canada, these inequalities are evidently worth being improved or changed, however, whether these changes should be morally obligated is the question. To begin, we may examine Peter Singer's main ideology, â€Å"if we can prevent something bad from happening, without sacrificing anything of comparable moral importance, then we ought, morally, to do so. This principle can be linked with the social group inequalities of Canada examined in the Broadbent Institute report. Having already acknowledged that these inequalities are a problem in the nation, Singer's principle may be used as a guide for improvement. Social group inequalities are economically degrading for the country in general as well as degrading to a personal level to those who are affected, hence making it a bad thing to have in a country. However, one must keep in mind that mainly racialized and new immigrants run the labor work force to Canada, and by eliminating social group inequalities, we might sacrifice many labor working employments. By sacrificing these positions, we may encounter further problems in the economy with a vacancy gap in the labor work force, which is too great to fill. Morally, it is to everyone's preference to be equal in a coexisting society of many races and backgrounds. By basing ourselves solely on Singer's principle, the conclusion of the analysis would definitely not morally agree with his ideologies. Working around the argument, we are able to minimize the â€Å"bad† â€Å"(social group inequalities) using different methods such as more relaxed education laws, placement centers, immigration help and guidance, in order to improve the situation. Improving the situation does not mean eliminating social group inequalities; hence we are not sacrificing anything of the same moral importance such as the labor work force. Moving on to a libertarian aspect, where the principle implies that everyone should have maximum liberty, consistent with equal liberty for others, the issue can be analyzed differently. Social group inequalities are in some ways depriving the victims of their liberties of electing their path of career and enabling them to become what they truly want. The victims of social group inequalities, notably immigrants, aboriginals, women, the disabled, may want to follow a certain career path or have already completed education required for a certain employment however due to the inequalities in Canada towards them, they are forced into lower income employments, hence overpowering their liberties and free will. This issue is very unfortunate as the affected are left with no choices due to their circumstances and backgrounds. Staying on the libertarian path, we may conclude that the issue of social group inequalities, morally, should be fixed as it is depriving its victims of their liberty and free will. By fixing the problem, the liberty of the rest of the population will not be affected, yet enhanced for everyone, by enabling more people to make their own choices, possess liberty and free will. Therefore, social group inequalities should be eliminated and treated in Canada when analyzing with a libertarian approach. By analyzing different philosophical moral approaches to the problem, we are able to see the different conclusions that each one might lead to. We may further analyze the problem through a utilitarian approach. Utilitarianism suggests that an action is right when it maximizes utility (happiness) overall. Social group inequalities affect Canada's economical situation by bringing down the economy in certain areas where the problem is more prominent such as low-income neighborhoods and secluded or neglected areas where there are no opportunities for economical prosperity. Creating an improvement plan with regards to social group inequalities will create happiness and opportunity to the majority of the population that are affected by this problem. Encouraging women to obtain higher education and compete for high management employment positions, creating guidance centers for aboriginal peoples in order for them to receive an education and follow a career path, enable educated immigrants to work freely in their field without racial profiling or racism, enhance the economy and growth of area with few resources by moving factories and company headquarters, are all ways to control this problem by enhancing the happiness of all including the population which were not affected by social group inequalities. Victims of the problem will be relieved of their inequalities; as for the population, which did not suffer from this inequality, their happiness and utility will also be enhanced. Racial people will be more mixed with the upper class, creating new social groups and opportunities, the Canadian economy will be boosted due to the creation of new jobs and the improvements of rural or low-resource cities and towns, social acceptance will be promoted, professional fields will be enhanced to do the vast racial diversity, labor work force will attract new groups of people such as younger Canadians, as well as many more advantages to the society as a whole. Finally, one might conclude that it is almost a moral obligation, philosophically basing ourselves on the utilitarian approach, to improve and minimize social group inequalities in Canada as it would be promoting general happiness and economical prosperity for the entire nation. Lastly, the issue of social group inequalities may be analyzed through the philosophical principle of sufficiency. Sufficiency suggests that what matters is not equality, but whether people have enough. This principle is quite different than the others as it suggests a different outcome or conclusion to the problem itself. In the previous paragraphs, we analyzed social group inequalities though philosophical moral principles in order to treat the problem and improve the situation of Canada with regards to its inequalities and economical prosperity. However, priorities were never covered and deserve to be mentioned for the purpose of this paper. Women, immigrants, aboriginal peoples, people living in rural or economically deprived areas all suffer from inequalities as previously explained and proven in the Broadbent Institute report. These social groups may live a low-income life, yet they have all that they need to sufficiently live a healthy and full life. Their life may not be as prosperous or luxurious as the higher-income social class of Canada, however their needs are all met with the earnings that are allocated to them and their families. There are other social classes in Canada, which do not have sufficient financial means to support their families, moreover themselves for that matter. Hence the government should be focusing on eliminating poverty and suffering rather than minimizing social group inequalities. Morally, it would be the correct thing to do for the government of Canada when basing our philosophical ideologies on the principles of sufficiency. The priorities for aid go from the classes of people that have nothing or the least, up to the classes of people that have the most. When comparing the situation of the population that suffer from poverty, homelessness, famine, malnutrition, to the population which suffer from social group inequalities, it is easy to conclude that the aid should be prioritized to the more needy. In addition, by providing aid to the population which do not have sufficient financial means to live a full healthy life, equality is enhanced and promoted by raising the standards of living for all Canadians, hence somewhat aiding with the issue of social group inequalities by eliminating poverty. The Broadbent Institute report served as a very well organized and efficient study, raising social awareness about the inequalities that are present and faced every day in Canada. Using the aid of philosophical principles and ideologies such as Peter Singer's, Libertarianism, Utilitarianism, and the principles of sufficiency, we were able to more deeply analyze the moral importance of improving and eliminating the issue of social group inequalities which are very much present in our nation today. Each principle suggests a different moral approach; consequently providing various conclusions which Canadians can base their opinions with regards to this problem. By utilizing different moral aspects of philosophy, we were able to demonstrate clearly why the problem of social group inequalities should or should not be reduced in our society depending on the outcome and well-being of the general Canadian population.

Red Bull

Could It position the product in other ways? The product of red bull was set-up to market within energy drinks, the notions of market segmentation, targeting and positioning are key to the success of firms' marketing efforts has concentrated on building relationship based on partnerships with sporting events and Iconic athletes . The target customers are around athletes , teenagers, students, drivers, clubbers, young business people and farmers.The marketing strategies can position the red bull in other ways, it was sponsored extreme sports events before, such as traditional television marketing program, radio r pop stars advertising, event marketing in sports and competition, organized public lecture, sent the sample to the sports company with free cases of its energy drink and encouraged them to throw a party. We also have lots of promotion to popularize; this can be changed values and needs of each target consumer.The lovely packages can be attracted the female customers. Besides, it can be promoted some limited edition of packages for different cities. Such as, it can be found celebrity endorsement and designed the packages with the photos of celebrities which can increase the sales. Red Bull can be created a new line which has extra caffeine. The new products can provide people more powerful than the original version and the cans can be increased the capacity from mall to mall with the same price. This new version of extra caffeine can be promoted to the long-time workers.Red Bull improves performance, especially during times of increased stress or strain, increases concentration and improves reaction speed and stimulates metabolism. Also, Red Bull can be created a new flavor which is cocktail favor and can be used as a very nice mixer with alcohol. It is very convenient for the people who love going to party or clubbing. Red Bull can be created a new product which not only for energy drinks. It could be a food like a power bar or candy. They can use a â⠂¬Å"Word of mouth† strategy. Red Bull Q1. How will you characterize Red Bull's overall global marketing strategy? Red Bull has built an image as a trendy energy drink, catering to young adults and young professionals between the age groups of (16-29) years. It also targets young club-goers and private parties in order to spread its picture as a stylish drink. It also believes that it is not just selling a beverage, but instead it is selling a ‘way of life’. Red Bull also uses a catchy slogan as ‘Red Bull gives you wings’. These non –traditional marketing strategies of Red Bull are not unique to any market. The term ‘Glocal’ means to market globally, yet tailor the ‘message’ to appeal to local tastes. Red Bull does not follow a Glocal Marketing Strategy, as it does not alter the marketing techniques to any particular country. In all the markets, they cater to the same crowd and use the same pricing, distribution and advertising methods. Red Bull only offers its product in one size (250ml) cans, and design all over the world. Businesses that use global marketing embark on the same product, same marketing techniques and even the same brand names and packaging in all markets. Red Bull believes in marketing its product with one brand image all over the world. Hence, I can characterize Red Bull’s overall marketing strategy as ‘Global’. In addition, Red Bull does not use local marketing strategies as they do not conform to local considerations. Example Red Bull offers only two varieties in all the countries irrespective of the local demand or taste for a new variant. It also uses the same marketing campaigns of ‘buzz marketing' or word-of-mouth in all the countries, irrespective of the nature of market in a particular country. Q.2 Argue for the most relevant segmentation criteria to be used in the International Marketing Selection process. The International Market Selection Process is a very complex process of foreign market screening that considers many factors. For a product like Red Bull, the size and per capita income of its target market is the most important criteria used in International Market Selection. Red Bull’s target market is young adults and young professional (aged 16-22). If the number of people in this age – group form a small fragment of the country’s overall population, then entering such a market would be risky and not profitable enough. Red Bull has built a brand image of a youthful energy drink and hence it can be successful only in markets that have a large number of young people. Red bull has dominated the energy market for a decade now. Its popularity and stylish design has allowed it to be charged at a premium price. Red Bull is a stylish and vibrant energy drink that is priced at least five times higher than the ordinary soft drink. Red Bull strongly believes that it offers its consumers something more than a beverage; it believes that it offers them a ‘way of life.’ It provides its consumers with energy and related brainpower to make the most of their time. Due to all of the above reasons, Red Bull can afford to price itself at such a high price. Therefore, it is important that Red Bull chooses those markets where the people have the financial capacity to purchase their product Q3. Which changes would you suggest for Red Bull's future global marketing mix, in order to meet the future challenges? After seeing the success that Red Bull has got in the energy drinks market, new brands are entering this market. Hence, it is essential for Red Bull to make certain changes in its marketing, production and distribution strategies. Red Bull offers only one product with two flavor varieties. The new age consumers want variety hence; Red Bull should launch a new flavor depending on local taste. Also, Red Bull currently offers only one packaging size, it can introduce 1 litre Red Bull bottles that will be beneficial for the Clubs owners in terms of Raw Material costs and Red Bull in terms of Manufacturing costs. Red Bull’s pricing strategy has been beneficial to the company however, they should lower their prices a little in order to gain more consumers in certain markets. The marketing strategies of Red Bull are highly global. They do not alter their strategies according to local considerations. In order to gain an edge in this competitive global market it is essential for Red Bull to start taking local demands and tastes into consideration. Red Bull’s distribution strategy targets small retailers and distributors that spread the brand name through word of mouth to local consumers. They also use college students to help distribute the product. One thing that they can do in order to improve their product placement is start Red Bull kiosks. This can also act as a marketing tool. Red Bull uses non- traditional and out of the promotion techniques. They spend 30% of their revenue on marketing and promotion. I believe that their unique marketing techniques have worked for them and they should continue with them even in the future. Q.4 Red Bull is available in large cities in India across super markets, restaurants and bars. Evaluate the opportunities for market expansion in India. Red Bull has already targeted the right market in India i.e. young adults and professionals. Hence, in order to expand in India Red Bull needs to find new ways of attracting this crowd. Red Bull is priced at a high rate, youngsters get a fixed budget every month and cannot afford to spend so much regularly on an energy drink. Hence, Red Bull should be made available in college cafeterias at subsidized rates. In addition, Red Bull should be made available at call centers and night offices as a more energetic substitute to coffee. Red Bull contains less amount of caffeine than the amount of caffeine in a coffee cup. This information can be used to promote Red Bull over coffee. India has a large number of cheaper substitutes of energy drinks, therefore in order to tap the huge market share of India it is advisable that Red Bull reduce its prices for the Indian Market. Another strategy that Red Bull can use to expand in the Indian Market is to carter to the larger number of truck drivers that India has. Red Bull originally cartered to provide energy to truck drivers. It can start following the same strategy in order to increase its consumer base in India. It can start by making Red Bull available at highway dhabbas, and shops. However, in order to carter to the truck drivers Red Bull would need to slash its prices, until that is done this strategy will not work. Thus by following the above mentioned ways Red Bull can build a stronger and larger consumer base in India. Red Bull Could It position the product in other ways? The product of red bull was set-up to market within energy drinks, the notions of market segmentation, targeting and positioning are key to the success of firms' marketing efforts has concentrated on building relationship based on partnerships with sporting events and Iconic athletes . The target customers are around athletes , teenagers, students, drivers, clubbers, young business people and farmers.The marketing strategies can position the red bull in other ways, it was sponsored extreme sports events before, such as traditional television marketing program, radio r pop stars advertising, event marketing in sports and competition, organized public lecture, sent the sample to the sports company with free cases of its energy drink and encouraged them to throw a party. We also have lots of promotion to popularize; this can be changed values and needs of each target consumer.The lovely packages can be attracted the female customers. Besides, it can be promoted some limited edition of packages for different cities. Such as, it can be found celebrity endorsement and designed the packages with the photos of celebrities which can increase the sales. Red Bull can be created a new line which has extra caffeine. The new products can provide people more powerful than the original version and the cans can be increased the capacity from mall to mall with the same price. This new version of extra caffeine can be promoted to the long-time workers.Red Bull improves performance, especially during times of increased stress or strain, increases concentration and improves reaction speed and stimulates metabolism. Also, Red Bull can be created a new flavor which is cocktail favor and can be used as a very nice mixer with alcohol. It is very convenient for the people who love going to party or clubbing. Red Bull can be created a new product which not only for energy drinks. It could be a food like a power bar or candy. They can use a â⠂¬Å"Word of mouth† strategy. Red Bull Q1. How will you characterize Red Bull's overall global marketing strategy? Red Bull has built an image as a trendy energy drink, catering to young adults and young professionals between the age groups of (16-29) years. It also targets young club-goers and private parties in order to spread its picture as a stylish drink. It also believes that it is not just selling a beverage, but instead it is selling a ‘way of life’. Red Bull also uses a catchy slogan as ‘Red Bull gives you wings’. These non –traditional marketing strategies of Red Bull are not unique to any market. The term ‘Glocal’ means to market globally, yet tailor the ‘message’ to appeal to local tastes. Red Bull does not follow a Glocal Marketing Strategy, as it does not alter the marketing techniques to any particular country. In all the markets, they cater to the same crowd and use the same pricing, distribution and advertising methods. Red Bull only offers its product in one size (250ml) cans, and design all over the world. Businesses that use global marketing embark on the same product, same marketing techniques and even the same brand names and packaging in all markets. Red Bull believes in marketing its product with one brand image all over the world. Hence, I can characterize Red Bull’s overall marketing strategy as ‘Global’. In addition, Red Bull does not use local marketing strategies as they do not conform to local considerations. Example Red Bull offers only two varieties in all the countries irrespective of the local demand or taste for a new variant. It also uses the same marketing campaigns of ‘buzz marketing' or word-of-mouth in all the countries, irrespective of the nature of market in a particular country. Q.2 Argue for the most relevant segmentation criteria to be used in the International Marketing Selection process. The International Market Selection Process is a very complex process of foreign market screening that considers many factors. For a product like Red Bull, the size and per capita income of its target market is the most important criteria used in International Market Selection. Red Bull’s target market is young adults and young professional (aged 16-22). If the number of people in this age – group form a small fragment of the country’s overall population, then entering such a market would be risky and not profitable enough. Red Bull has built a brand image of a youthful energy drink and hence it can be successful only in markets that have a large number of young people. Red bull has dominated the energy market for a decade now. Its popularity and stylish design has allowed it to be charged at a premium price. Red Bull is a stylish and vibrant energy drink that is priced at least five times higher than the ordinary soft drink. Red Bull strongly believes that it offers its consumers something more than a beverage; it believes that it offers them a ‘way of life.’ It provides its consumers with energy and related brainpower to make the most of their time. Due to all of the above reasons, Red Bull can afford to price itself at such a high price. Therefore, it is important that Red Bull chooses those markets where the people have the financial capacity to purchase their product Q3. Which changes would you suggest for Red Bull's future global marketing mix, in order to meet the future challenges? After seeing the success that Red Bull has got in the energy drinks market, new brands are entering this market. Hence, it is essential for Red Bull to make certain changes in its marketing, production and distribution strategies. Red Bull offers only one product with two flavor varieties. The new age consumers want variety hence; Red Bull should launch a new flavor depending on local taste. Also, Red Bull currently offers only one packaging size, it can introduce 1 litre Red Bull bottles that will be beneficial for the Clubs owners in terms of Raw Material costs and Red Bull in terms of Manufacturing costs. Red Bull’s pricing strategy has been beneficial to the company however, they should lower their prices a little in order to gain more consumers in certain markets. The marketing strategies of Red Bull are highly global. They do not alter their strategies according to local considerations. In order to gain an edge in this competitive global market it is essential for Red Bull to start taking local demands and tastes into consideration. Red Bull’s distribution strategy targets small retailers and distributors that spread the brand name through word of mouth to local consumers. They also use college students to help distribute the product. One thing that they can do in order to improve their product placement is start Red Bull kiosks. This can also act as a marketing tool. Red Bull uses non- traditional and out of the promotion techniques. They spend 30% of their revenue on marketing and promotion. I believe that their unique marketing techniques have worked for them and they should continue with them even in the future. Q.4 Red Bull is available in large cities in India across super markets, restaurants and bars. Evaluate the opportunities for market expansion in India. Red Bull has already targeted the right market in India i.e. young adults and professionals. Hence, in order to expand in India Red Bull needs to find new ways of attracting this crowd. Red Bull is priced at a high rate, youngsters get a fixed budget every month and cannot afford to spend so much regularly on an energy drink. Hence, Red Bull should be made available in college cafeterias at subsidized rates. In addition, Red Bull should be made available at call centers and night offices as a more energetic substitute to coffee. Red Bull contains less amount of caffeine than the amount of caffeine in a coffee cup. This information can be used to promote Red Bull over coffee. India has a large number of cheaper substitutes of energy drinks, therefore in order to tap the huge market share of India it is advisable that Red Bull reduce its prices for the Indian Market. Another strategy that Red Bull can use to expand in the Indian Market is to carter to the larger number of truck drivers that India has. Red Bull originally cartered to provide energy to truck drivers. It can start following the same strategy in order to increase its consumer base in India. It can start by making Red Bull available at highway dhabbas, and shops. However, in order to carter to the truck drivers Red Bull would need to slash its prices, until that is done this strategy will not work. Thus by following the above mentioned ways Red Bull can build a stronger and larger consumer base in India. Red Bull Target market Red Bull was one of the first Energy Drink. It gave energy to people who want to be physically and mentally fit from 1982. As the company reported, in 2011 red bull had sold 4. 631 billion cans over the world with 11. 4 per cent increase of 2011. In selling, profits and productivity the data illustrated were the highest one of the company. (www. redbull. com) Moreover, as figure1 illustrated, Red Bull is the most popular energy drink brand all over the world from 2006 to 2012. Clearly target market is one of the most significant reasons for the Red Bull’s success.As the company’s slogan says, â€Å"Red Bull gives you wings†. Red Bull gave wings from the beginning and spread its wings quickly over the world. Until 2011, Red Bull was available in 164 countries. (www. redbull. com) Therefore, it is not necessary for Red Bull to set segmentations by geographic or geodemograhic. Besides, Red Bull is improved for people to create a clearly mind, dynamic p erformance and an active lifestyle. In other words, Red Bull helps people to be active physically and psychologically and have a zest life.Therefore it is also not useful for Red Bull to set segmentation by profile or psychographic. Red Bull is a drink to supply energy and increase endurance which could struggle for the physical or mental tired. It helps people to meet the challenges of everyday life such as work, drive, study and sports. (www. redbull. com) According to the text book, the definition of behavioural segmentation is the segmentation which slices consumers on the basis of how they act towards, feel about or use a product. Solomon, et al,2009) Consequently, the best way for Red Bull to set the target market is behavioral segmentation. Red Bull becomes increasingly important in people’s lives when they are working, studying, doing sports and driving. Workers and students are the most significant parts of Red Bull’s target market. Red Bull can make students and workers’ mind clearly. For students all over the world the Red Bull is as important as the pencils and paper. It makes students concentrate and perform well. And it provides students enough energy to the leisure time as well.It is essential for someone who works hard and pursues better performance. Sport is Red Bull’s main point. Red Bull supports about 500 professional athletes over the world. It makes sportsman physically and mentally fit. Red Bull provides the athletes a convenient way to improve their endurance, concentration and speed. (www. redbull. com) Drivers are the other large parts of the target market. According to the research from psychopharmacologist Dr. Joris Verster and his colleagues of Utrecht University, Red Bull can reduce driver sleepiness and improve driving performance. Joris Verster, 2010) | Red Bull enhances concentration, reaction speed and vigilance. Red Bull also focuses on the customer who plays video games, goes out day and night. In short, the target market of Red Bull is the customer who needs more energy physically and mentally. Figure1: Top Selling Energy Drink Brands 2006-2012 (Bevnet, 2012) Reference: Bevnet, 2012, Top Selling Energy Drink Brands 2006-2012, http://www. energyfiend. com/the-15-top-energy-drink-brands marketing management†¦. Red Bull, , www. redbull. com Joris Verster, SAFE DRIVING STUDY, access at Springerlink. com. Red Bull Could It position the product in other ways? The product of red bull was set-up to market within energy drinks, the notions of market segmentation, targeting and positioning are key to the success of firms' marketing efforts has concentrated on building relationship based on partnerships with sporting events and Iconic athletes . The target customers are around athletes , teenagers, students, drivers, clubbers, young business people and farmers.The marketing strategies can position the red bull in other ways, it was sponsored extreme sports events before, such as traditional television marketing program, radio r pop stars advertising, event marketing in sports and competition, organized public lecture, sent the sample to the sports company with free cases of its energy drink and encouraged them to throw a party. We also have lots of promotion to popularize; this can be changed values and needs of each target consumer.The lovely packages can be attracted the female customers. Besides, it can be promoted some limited edition of packages for different cities. Such as, it can be found celebrity endorsement and designed the packages with the photos of celebrities which can increase the sales. Red Bull can be created a new line which has extra caffeine. The new products can provide people more powerful than the original version and the cans can be increased the capacity from mall to mall with the same price. This new version of extra caffeine can be promoted to the long-time workers.Red Bull improves performance, especially during times of increased stress or strain, increases concentration and improves reaction speed and stimulates metabolism. Also, Red Bull can be created a new flavor which is cocktail favor and can be used as a very nice mixer with alcohol. It is very convenient for the people who love going to party or clubbing. Red Bull can be created a new product which not only for energy drinks. It could be a food like a power bar or candy. They can use a â⠂¬Å"Word of mouth† strategy.

Types of Reinforcement

People have been using the theory of reinforcement even though they have not properly studied this theoretical concept. They have been employing this theory to strengthen the response for a particular stimulus or environmental event (Huitt and Hummel). Reinforcement theory generally states that the frequency of eliciting the same response will likely increase if it is followed by a reinforcer. The probability of repeating the same behavior in the future is dependent on what occurs after the individual engages in that behavior (Malala, et al. ). There are four types of reinforcement.Each type of reinforcement is distinguished by the kind of stimulus presented after the response. In positive reinforcement, for instance, a positive stimulus is presented after a certain response to increase the frequency of that response of behavior (Malala, et al. ,; Huitt and Hummel). The positive stimulus usually comes in the form of rewards. Positive reinforcement has been used in school settings to reinforce positive attitude towards studying. For example, academic awards such as medals and certificates are given to students who excel academically or in a certain field such as sports.While the previous example used a tangible positive reinforcer, it could also be intangible. To cite an example, according to Kobus and her associates (48), the praise, support, and encouragement of teachers and significant others (e. g. , parents) motivate grade school students to work hard and increase their self-efficacy (i. e, confidence in one’s capability). Positive reinforcement has often been used by parents as well. They reward their children with a reinforcer such as money for their hard work in school or for cleaning their room.The concept has also been applied by companies for their employees. Salary increase and promotion, for example, are awarded to hardworking employees for their outstanding performance. On the other hand, in negative reinforcement, the reinforcer, which is s omething negative, is withdrawn after the response. Repetition of this phenomenon will increase the occurrence of the response. This is usually observed when a person wants to avoid the negative reinforcer (Huitt and Hummel). For instance, children obey the house rules so that their parents will not get mad at them.In this example, the negative reinforcer is the anger of the parents while the response is the obedience of children. At work, employees meet their requirements and deadlines to avoid being reprimanded by their boss. Most people think that negative reinforcement and punishment is the same, which is a misconception. While negative reinforcement elicits a positive response due to the removal of the negative reinforcer after the response, punishment lessens the frequency of a response or behavior by presenting a negative stimulus after the response (Huitt and Hummel).Punishment has been used at home, in school, and in the workplace. For example, at home, parents ground their children when they do not come home at the time agreed. In school, punishment is imposed to discipline students. A simple example of this is reprimanding noisy students for disrupting the class. Punishment has been a system adopted in schools in the form of disciplinary policies where punishment for specific types of school offense are indicated (Gaustad 3). In the workplace, an example of punishment could be reducing the salary of employees when they do not report to the office without filing a leave.As punishment, they will not be paid for the days they did not come to work. The fourth type of reinforcement is extinction. In extinction, the frequency of a response or behavior is weakened when the reinforcement of a previously reinforced behavior is removed (Huitt and Hummel). To cite an example, in the field of psychology, extinction learning has been used in treating disorders such as anxiety disorder. The goal of the treatment is to extinguish fear by teaching the patients that the stimulus they fear no longer results in harmful consequences (Anderson and Insel 319).For instance, the patient is exposed to a previously feared event associated with an unpleasant outcome to get him or her accustomed to the event until he or she does not fear it anymore. Extinction can also occur in a corporate setting. When a company stops giving bonuses to hardworking employees, they may lose motivation to work hard, resulting in a decline in productivity. Based on the examples stated earlier, it could be concluded that reinforcement affects the behavior of individuals, children and adults alike.Reinforcement can either increase or decrease the frequency of a certain behavior depending on the stimulus or reinforcer presented (or removed) after the behavior. Hence, it could be inferred that behavior can be modified according to the pleasantness of the reinforcement that can be experienced for doing a certain behavior. For example, an individual’s positive or desired b ehavior can be maintained with positive or negative reinforcements, while his negative or unwanted behaviors can be extinguished through punishment or extinction.

Three organisations Essay Example | Topics and Well Written Essays - 750 words

Three organisations - Essay Example The hotel has has different tariff rates for different rooms. However currently, a standard double room is priced at â‚ ¤115, superior double at â‚ ¤125, garden double at â‚ ¤155 are and suites are given away for â‚ ¤225 per night. The hotel experiences a mix of customers ranging from travelers and adventurists to businessmen and people who just want to try out different places to live in. The hotel serves its customers really well and it can be clearly from customers reviews on the Trip Advisor website. The name Harts Hotel is a brand in itself. People who come to Nottingham city often prefer living here due to the reputations this hotel has earned over the years. The Harts Restaurant is located about twenty minutes away from the hotel and is one of the most high class dining places in the city since 1997. Other then that, Harts Upstairs is also a favorite spot for private parties and other personal meet ups. These three names carry a strong brand image with themselves. Katinka Rieger is the General Manager at the Harts Hotel since 2009. Hailing from Germany and having a lot of experience in event management and hotel operations, she makes sure the interests of the clients are given top priority. She makes sure that the employees are trained in a manner so that their top priority becomes the service and well being of the customers. The World Service Restaurant is an elegant place for dining out in Nottingham. It is perfectly located in the serene surroundings of the Newsdigate House, and offers its visitors to experience the customs and culture that the city has to offer. The World Service restaurant features three dining areas namely the Marshall Room, Blenheim Room and Tallard Room. Other then it also offers private rooms for small parties, a garden restaurant and the famous lounge bar. According to customer reviews the hotel offers really tasty food and the standard of service is part excellence. The waiters

Photography Essay Example | Topics and Well Written Essays - 250 words

Photography - Essay Example 126). Inside a darkroom, he made use of light exposure to ensure that different shapes and images are captured on the photographic paper. In the absence of a creative mind, a good photographer will not be able to produce unique and eye capturing images that could give meaningful ideas on the part of the viewers. Considering one of the brilliant collection of Man Ray, figure 1 presented on page 2 illustrate the head of a man and a woman kissing each other. On a piece of photographic paper, the use of sufficient light exposure pointed to the head of the models (with a hand on each side of the head) is not easy to create. Specifically the different shades of light and images we can see on the photograph require sufficient knowledge on photography. This is particularly with regards to the estimated length of time and distance the paper should be placed under certain degree of light exposure. The different shades of images we just observed in figure 1 enables the viewers to appreciate the photo similar to the images that are illustrated in paintings. After observing the works of Man Ray, it is amazing to learn that each photographer has the option to create unique images even without the use of a