The slotting fee Essay Example

The slotting fee Paper In the financial report, Burns Philp, at the time of each acquisition, created a provision for rationalization. When restructuring cost was subsequently incurred, related expense was written off against the provision until the provisions were exhausted and, then, the expense was directly charged against the annual profit. This aggressive accounting treatment gave rise to problems as high restructure costs increased asset value in financial reporting despite uncertainty about the realization of the benefit in future. A slotting fee is an extra payment to supermarkets to ensure the availability of shelf space in supermarkets for the companys products. In aggressive competition with McCormick, Burns Philp paid substantial slotting fees to increase market share. Slotting payment contracts were often made for three or four years. In the first year, the relevant payment was charged directly against profit in that year. Meanwhile, the amount relating to subsequent years was capitalised in Other Assets which would be charged against profit in later years. According to AASB SAC4, expenses may be capitalized only when there is a reasonable expectation that future benefit will be realized to recover the amount. Otherwise, it is more appropriate to expense the total amount immediately. For Burns Philp, Large amounts of capitalised slotting fee were subsequently written off against profit in 1996($33. 9M) and 1997($136. 4M). Intangible assets valuation (1) Tradename asset valuation. VRC valued tradename assets using the relief from royalty method. We will write a custom essay sample on The slotting fee specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The slotting fee specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The slotting fee specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The valuer gets net profit in current year and assumes net profit from future years and then divides the royalty rate to calculate the royalty value in the current year and discount to the present value. One way to check the appropriate royalty rate is to see whether sufficient net profit has been derived from the use of a tradename to recover payment of the royalties in past years. Otherwise, the royalty rate should be adjusted to a lower level and the tradenames value should be written down. In the table above, the trend in these two rows was obviously not correlated. Another check focuses on calculating net profit. According VRC approach, the upfront slotting fees and the Ankeny restructuring costs which supported the achievement of long term strategy were not considered a relevant expense. With the poor performance in 1997, the cost was not recovered by long-term economic benefit and should appropriately be recognised as an expense. (2) Another issue is internally generated asset valuation. Regarding AASB1013, goodwill value is only recognised in financial reports when it is purchased. While when VRC valued the tradename, it included both purchased and internally developed tradenames. The consolidated value will make the value of tradenames overstated. As the tradename value of herbs and spices business was materially overvalued, it was written down by $435. 5M in 1997. Audit risk is the risk that the auditor may express an inappropriate opinion or accept financial information that is materially misstated. Audit risk is commonly assessed within three components. Inherent risk, control risk and detection risk.

Heinkel He 280 Fighter in World War II

Heinkel He 280 Fighter in World War II The Heinkel He 280 was the worlds first true jet fighter. Developed by Ernst Heinkel, the aircraft built upon his earlier successes with the civilian He 178. First flying in 1941, the He 280 proved superior to the piston-engine fighters then in use by the Luftwaffe. Despite this success, Heinkel had difficulty gaining official support for the aircraft until late 1942. Plagued by engine issues, the He 280s development was eventually halted in favor of the Messerschmitt Me 262. The He 280 represents a missed opportunity for the Luftwaffe as it could have been operational a year earlier than the more famous Messerschmitt and aided Germany in maintaining air superiority over Europe. Design In 1939, Ernst Heinkel began the jet age with the first successful flight of the He 178. Flown by Erich Warsitz, the He 178 was powered by a turbojet engine designed by Hans von Ohain. Long interested in high-speed flight, Heinkel presented the He 178 to the Reichsluftfahrtministerium (Reich Air Ministry, RLM) for further evaluation. Demonstrating the aircraft for RLM leaders Ernst Udet and Erhard Milch, Heinkel was disappointed when neither showed much interest. Little support could be found from RLMs superiors as Hermann Gà ¶ring preferred to endorse piston-engine fighters of proven design. Undeterred, Heinkel began moving forward with a purpose-built fighter that would incorporate the He 178s jet technology. Beginning in late 1939, the project was designated He 180. The initial result was a traditional looking aircraft with two engines mounted in nacelles under the wings. Like many Heinkel designs the He 180 featured elliptically-shaped wings and a dihedral tailplane with twin fins and rudders. Other features of the design included a tricycle landing gear configuration and the worlds first ejection seat. Designed by a team led by Robert Lusser, the He 180 prototype was complete by summer 1940. Aircraft designer Ernst Heinkel. Bundesarchiv, Bild 183-B21019 / CC-BY-SA 3.0 Development While Lussers team was making progress, engineers at Heinkel were encountering problems with the Heinkel HeS 8 engine which was intended to power the fighter. As a result, initial work with the prototype was limited to unpowered, glide tests which began on September 22, 1940. It was not until March 30, 1941, that test pilot Fritz Schfer took the aircraft up under its own power. Re-designated the He 280, the new fighter was demonstrated for Udet on April 5, but, as with the He 178, it failed to earn his active support. In another attempt to earn RLMs blessing, Heinkel organized a competition flight between the He 280 and a piston-engine Focke-Wulf Fw 190. Flying an oval course, the He 280 completed four laps before the Fw 190 had finished three. Again rebuffed, Heinkel redesigned the airframe making it smaller and lighter. This worked well with the lower thrust jet engines then available. Working with limited funding, Heinkel continued to refine and improve its engine technology. On January 13, 1942, test pilot Helmut Schenk became the first to successfully use the ejection seat when he was forced to abandon his aircraft. RLM Support As designers struggled with the HeS 8 engine, other power plants, such as the V-1s Argus As 014 pulsejet were considered for the He 280. In 1942, a third version of the HeS 8 was developed and placed in the aircraft. On December 22, another demonstration was organized for RLM which featured a mock dog fight between the He 280 and the Fw 190. During the demonstration, the He 280 defeated the Fw 190, as well as showed impressive speed and maneuverability. Finally excited about the He 280s potential, RLM ordered 20 test aircraft, with a follow-on order for 300 production aircraft. Heinkel He 280 Specifications (He 280 V3):GeneralLength: 31 ft. 1 in.Wingspan: 40 ft.Height: 10 ft.Wing Area: 233 sq. ft.Empty Weight: 7,073 lbs.Loaded Weight: 9,416 lbs.Crew: 1PerformancePower Plant: 2 Ãâ€" Heinkel HeS.8 turbojetRange: 230 milesMax Speed: 512 mphCeiling: 32,000 ft.ArmamentGuns: 3 x 20 mm MG 151/20 cannon Continuing Problems As Heinkel moved forward, problems continued to plague the HeS 8. As a result, the decision was made to abandon the engine in favor of the more advanced HeS 011. This led to delays in the He 280 program and Heinkel was forced to accept that another companies engines would need to be used. After assessing the BMW 003, the decision was made to use the Junkers Jumo 004 engine. Larger and heavier than the Heinkel engines, the Jumo drastically reduced the He 280s performance. The aircraft flew for the first time with the Jumo engines on March 16, 1943. With the reduced performance caused by the use of the Jumo engines, the He 280 was at a severe disadvantage to its primary competitor, the Messerschmitt Me 262. Several days later, on March 27, Milch ordered Heinkel to cancel the He 280 program and focus on bomber design and production. Angered by RLMs treatment of the He 280, Ernst Heinkel remained bitter about the project until his death in 1958. Only nine He 280s were ever built. A Lost Opportunity Had Udet and Milch seized upon the He 280s potential in 1941, the aircraft would have been in frontline service more than a year earlier than the Me 262. Equipped with three 30mm cannon and capable of 512 mph, the He 280 would have provided a bridge between the Fw 190 and Me 262, as well as would have permitted the Luftwaffe to maintain air superiority over Europe at a time when the Allies would have lacked a comparable aircraft. While engine issues plagued the He 280, this was a constant issue with early jet engine design in Germany. Messerschmitt Me 262. Photograph Courtesy of the US Air Force In most cases, government funding was lacking at the key early stages of development. Had Udet and Milch initially backed the aircraft, the engine problems most likely could have been rectified as part of an expanded jet engine program. Fortunately for the Allies, this was not the case and a new generation of piston-engine fighters, such as the North American P-51 Mustang and later versions of the Supermarine Spitfire, allowed them to take control of the skies from the Germans. The Luftwaffe would not field an effective jet fighter until the Me 262, which appeared in the wars final stages and was unable to significantly influence its outcome.

Beauty is a high valued virtue in Greek mythology Essay

Beauty is a high valued virtue in Greek mythology - Essay Example In the text, Zeus believed that Leto’s children were beautiful, a quality that made them be attractive before him (Evslin 14). Father Zeus was delighted by Leto’s children whose faces shone brightly above other children on earth. This story reveals the physical trait of beauty that the Greek held in society. In this story, the quality of beauty has not been ascribed to any moral trait, but physical traits as shown. In another story, Evslin gives an account of how Father Zues perceived beauty among the maidens. In the story of Aphrodite, Father Zeus was impressed by the beauty of Aphrodite who was regarded as the goddess of love. In the description presented in the text, all the beauty of the Aphrodite is depicted in the physical sense. Evslin gives the description of the maiden as tall and beautiful with golden hair (Evlslin 21). From Father Zeus description of Maiden—the goddess of desire, most of her beauty were reflected in the physical sense. The description of the goddess, who Father Zeus brought to Olympus does not reflect moral, but instead a physical trait. The story of Eros and Pysche, also gives a vivid illustration that the Greek regarded beauty physical and not a moral trait. Evslin gives an account of a king who had three daughters; with one being more beautiful than Aphrodite. In the story, Aphrodite was so jealous of this beautiful Lady that she was not happy with her. In fact, the story reveals that Aphrodite asked Psyche why she was â€Å"pretending to be beautiful† like her, because she thought that she was the only one endowed with beauty in the whole of Olympus (Evslin 39). The story also depicts Pysche as being beautiful because her eyes were huge and brilliant. The use of this description demonstrates that Pysche was indeed beautiful because of her physical trait, and not from a moral perspective. Without doubt,

What Specific Practices And Attitudes Does Marlow Criticize Or Condemn Essay

What Specific Practices And Attitudes Does Marlow Criticize Or Condemn What Practices And Attitudes Does He Approve Of - Essay Example The story is about a Company set up in a European nation (read Belgium) which has a vested interest in Africa, in particular the trade in ivory, one in which they would like to lay their hands upon more and more ivory as also the best ivory available. It is this "taint of imbecile rapacity" (166) that blows through the novel like "a whiff from some corpse"(166). Even at the very beginning Marlow makes his distaste for colonialism known when he says, "The conquest of the earth, which mostly means the taking it away from those who have a different complexion or slightly flatter noses than ourselves, is not a pretty thing when you look into it too much"(140). From here it is a natural progression to the comparison he makes between the pompousness and the laziness of the colonists and the exploitation and hard labour inflicted upon the native people. His scathing sarcasm begins with the idleness of the passengers on board the French steamer and goes on to those at the Company Station who have their sights set on getting appointed "to a trading-post where ivory was to be had, so that they could earn percentages" (168). Having reached the Company Station, Marlow discovered that the steamer which he was to command was damaged and in need of repairs. The others who were to accompany him into the dense unexplored parts of the continent in search of Kurtz had nothing better to do and the intervening time was spent by these same persons in "back-biting and intriguing against each other in a foolish kind of way. There was an air of plotting about that Station, but nothing came of it, of course. It was as unreal as everything else.. as their talk, as their government, as their show of work"(168). Meanwhile the malnourished and underpaid natives were literally yoked together and these chain gangs were forced at gun point to undertake different types of hard manual work in the blazing sun. In one particular instance an enormous hole had been dug up on the hill side with no earthly purpose other than "the philanthropic desire of giving the criminals something to do"(155). On the one hand he narrates images of weary, dying natives who have become living phantoms, and decries the insidious ways of the Company as a flabby, pretending, weak-eyed devil of a rapacious and pitiless folly. A bunch of European adventures calling themselves the Eldorado Expedition turn up at the Company Station. They are described as men "without hardihood, greedy without audacity, and cruel without courage" (177). The purpose of their expedition is to "tear treasure out of the bowels of the land" and we are told that they had "no more moral purpose at the back of it than there is in burglars breaking into a safe" (177). It is not just that Marlow has no patience with those who shirk their job, but he gets rubbed up the wrong way when he has to put up with people who work only under supervision. The helmsman on whom he would have to rely heavily as they sailed through the river full of snags turned out to be "the most unstable kind of fool" who "steered with no end of a swagger" when Marlow was around. But the minute his back was turned the helmsman "became instantly the prey of an abject funk, and would let that cripple of a steamboat get the upper hand of him in a minute" (199). Being a straightforward person himself, Marlow's temperament cannot stand a lie. He is the first to declare that he "can't bear a lie, not because I am straighter than the rest of us, but simply because it appals me. There is a taint of death, a flavour of mortality in lies.It makes me miserable and sick, like biting

The Growth Of The Mens Grooming Industry

The Growth Of The Mens Grooming Industry Mens grooming industry is one of the fastest growing markets in recent years (Euromonitor International: Mens Grooming Products Thailand, 2009). This sector is dramatically booming in Asian countries, especially Thailand. One of the leading brands in mens grooming market in Thailand is NIVEA FOR MEN brand, operated by Beiersdorf Thailand, which is selected to be the case study in this research. To be the leading brand in this fast growing industry, NIVEA FOR MEN needs to create business plan with a very strong strategic marketing plan. In general, a business sets the overall direction for the company through a business plan. The business plan is created in order that the goals and objectives of the company are to be achieved. In other words, goals and objectives of a business are the underlying foundation of the business plan (The times 100, 2008). The marketing plan is certainly a vital part of the business plan and plays active roles to achieve the targets. The strategic marketing planning process flows from a mission and vision statement to the selection of target markets, and the formulation of specific marketing mix and brand or product positioning objective (RESTREPO, N.A.). Moreover, Kotler (1994) presents the organization as a value creation and delivery sequence. To choose the value, the strategist needs to proceed to segment the market, select an appropriate market target, and develop the offers value positioning, which is known as a vital strategy of Market-oriented perspective. It seems to be unavoidable that Beiersdorf Thailand has to come up with the marketing strategies to penetrate and to be the leader in mens grooming market by doing the right segmentation, selecting the best-suited target markets, and creating the competitive brand/product positioning. In sum, the formula of segmentation, targeting, positioning, STP strategies, is the heart of strategic marketing (Kotler, 1994). The literature review is divided into two main parts. The first part focuses on the previous work on market-oriented approach, as opposed to resource-base view perspective. The second part covers the relevant work on the process of segmentation, targeting, and positioning as well as implementation of the marketing strategy. Part 1: Market-oriented perspective and Resource-based view perspective Part 2: Three essentially related topics Market Segmentation Market Targeting Market Positioning Part 1: Market-oriented perspective and Resource-based perspective This part will specifically study on market-oriented perspective, which underlies a market power imperative, through previous academic research. There are many studies about the implication of resource-based view and market-oriented perspective for a company to be successful in terms of profitability. Also, there are discussions about what perspective is the appropriate one. According to Porter (1991), a successful company has to use market-oriented approach to study the external market and then apply to internal resources. Market orientation , according to Kohli and Jaworski (1990), requires various departments in an organization to engage in activities geared towards developing an understanding of customers needs, and then develop the products to meet target customers needs (Hooley et al., 2008). In addition, Porters (1991) work relies heavily on the pursuit of advantages which are determined by firms exogenous variables that require analysis of the competitors and opportunities in the market. In Porters (1991) theory of competition strategy, he stated that the competition strategy of a firm is to seek an advantageous competitive position in the marketplace or to build up a profitable market position by drawing on varieties of factors that are critical to being competitive in an industrial sector. Following the Porters work, a recent research from Ren, Xie, and Krabbendam (2010) also studied the sustainable competitive advantage with the market-oriented perspective, which covered market innovation. Their work strongly supported the use of market-oriented perspective, with the conclusion that market-oriented approach can lead companies to success and gain more profits. Additionally, they suggested that companies analyse various marketing factors to discover new competitive advantages in order to achieve marketing innovation. However, Prahalad and Hamel (1990) and Sharkie (2003) undertake different perspective by arguing that external focus, in the view of market orientation, which requires the company to concentrate on conditions and constraints in the external environment cannot create competitive advantage for a company. Nonetheless, the resource-based view approach is believed to somehow lead to competitive advantages as it suggests that a firms unique resources and capabilities provide the basis for a strategy. In a previous study, Grant (1991) proposed a practical framework for resource-based approach to strategy formulation. The organizing framework for his study is a five-stage procedure for strategy formulation which are 1) analysing the firms resource-base, 2) appraising the firms capabilities, 3) analysing the profit-earning potential of firms resources and capabilities, 4) selecting a strategy, and 5) extending and upgrading the firms pool of resources and capabilities. Ren, Xie, and Krabbendam, (2010) had a reservation on the use of resource-base view, explaining that resources would contribute to sustainable competitive advantage just when a firm possesses valuable, scarce, inimitable and irreplaceable resources. They stated that in the real world, not every company has the resources with all of those characteristics (Ren, Xie, and Krabbendam, 2010). Part 2: The Process of Segmenting, Targeting, and Positioning 2.1 MARKET SEGMENTATION 2.1.1 Definition of Market Segmentation Market segmentation is defined as the division of a mass market into identifiable and distinct groups or segments, each of which have common characteristics and needs and display similar responses to marketing actions (Rosscraig, 2007). As the market consists of diverse types of products, customers, and personnel needs, the marketers should divide the market into distinct group of buyers in order to appropriately determine which market segment offers the best opportunity for achieving company objectives. Perner (2008) indicated that it is very unlikely that one product could meet the satisfaction of all consumers. In this perspective, a company which chose to focus on a specific group of consumers rather than customers in general would be more successful in terms of profitability. Dibb (1998) suggested that companies divide large markets into smaller segments in order to identify customers purchasing behaviors. Furthermore, Brassington and Pettitt (2003) also suggested that marketers find ways of breaking the market down into manageable parts, groups of customers with similar characteristics in terms of commonly used classifications to measure demographics, which include socio-economics, geographic and personality, and to concentrate their efforts on selecting one or more of these areas. While various literatures stated that it is essential to consider the market segmentation, MC Donald (1998) argued that market segmentation always faced the problem that many different types of customers used the same products in diverse markets. It meant that these different types of customers were in fact subsumed under the same category. Besides, Moschis (1997) also stated the problems of segmentation that the demographics change and the aging of the population change were significant factors that affected the age composition of the consumer market. Day and Wensley (1983) criticised that the market segmentation relating to the consumer market sector alone was not sufficient as it generally reflected the one-sidedness of marketing. The competitive structure was to be taken into account as it yielded the basic information on segment formation. The research from Day and Wensley (1983) concluded that the formation and selection of segments could be improved if theoretical aspects of competitor orientation are included. Dibb (1997) outlined three condition classifications which help identify potential consumers in each segment; those are as follows The expected benefits must be identifiable; Having identified these benefits, marketers must divide people into recognisable segments; One or more of the resulting segments must be accessible to the firms marketing efforts. 2.1.3 Segmentation Variables/ Market Segmentation in Consumer Markets To segment consumer markets, the market information, in terms of customer variables, product variables, and situation related variables, must be collected for further analysis. In the study of The Application of Social Class in Market Segmentation, Carman (1965) stated that social class was a major segmentation variable to divided customers into groups. However, later on in 1994, Raaij and Verhallen argued that social class cannot be used as a main segmentation variable as the society had become less vertically organised with more buying power across larger layer of society, and also concluded that social class concept had lost its unique segmentation value. They claimed that other demographic variables, such as age and education, and other psychological characteristics were more appropriate for segmentation. Raaij and Verhallen (1994)s research studied the market segments and types of people as target groups for marketing activities; market segmentation is then classified into three main levels according to the level of generality of the variables which were general, domain-specific, and brand-specific levels (figure [2-1]). Level of Variable Objective Subjective General (behavioural patterns: Person characteristics) Age Income Education Behavioural patterns General values Lifestyle Personality Domain-specific (product-class usage) Situation Frequency of use Substitution Behaviour Opinions Perception Attitude Domain-specific values Brand-specific (brand-usage) Brand loyalty (behavior) Frequency of use Action Brand Loyalty (attitude) Preference Evaluation Purchase intention Figure [2-1]: Classification of Segmentation Variables by Raaij and Verhallen (1994) However, in the late of 2000s, Rosscraig (2007) suggested that media usage and technology usage could be a concern of market segmentation approach (See Appendix [2-1]). He stated that the variables used in segmenting consumer markets could be broadly divided into three main classes including: Profile criteria: Background customer characteristics Psychological criteria: customer attitudes Behavioral criteria: Actual behavior in the market place (Figure [2-1]). Consumer Criteria Profile Psychological Behavioural Demographic Socio-economic Geographic Who and Where Lifestyle Personality Perceptions Attitudes Motives Benefit sought Why and Who Purchase/transaction Consumption/ usage Media usage Technology usage Who, How, Where, and When Figure [2-2]: Segmentation criteria in consumer markets Profile Criteria With respect to profile criteria, customer characteristics are to be examined with isolation from the specific market of interest. The profile segmentation criterion is used for identiflying the target consumers and in the consumer goods markets which are most suitable to them (Rosscraig, 2007). According to Rosscraig (2007), this simple segmentation variable includes using demographic method, socio-economic method, and geographic method. Demographic method can be determined by age, gender, ethnicity, nationality, religion, family size, generation, and etc. This method is useful in assisting media planning and marketing communications as the media selection criteria have been developed around these variables. Socio-economic method can be shaped by occupation, income level, social class, and education. Socio-economic status determines whether a consumer will be able to afford a product. Geographic location method is shaped by geographical areas; markets can be considered by country or region, by town or size of city, by population density such as urban, suburban, or rural areas, or by postcode. This approach is useful when there are clear location differences in tastes, consumption, and preferences. Moreover, this method is widely applied with direct sales operations as they can use census information to develop better customer segmentation and predictive models. The profile segmentation approach is criticised in respect of uncertainly. While one segment is based on consumer background characteristics, members of each variable may behave differently in the marketplace for various reasons while members in the different segments may seek for the same things and have the same interest in a particular product/brand (Hooley et al., 2008). In shorts, this type of segmentation variable describes who and where the consumers are, but it does not explain the basic reasons why consumers behave so. Psychological Criteria The psychological criteria draw a casual relationship between customer profiles and marketing behavior (Hooley et al., 2008). The psychological variable includes the characteristics of attitude of the customers. Attitudes to the product class and attitudes toward brands in the market have both been used as productive bases for market segmentation (Hooley et al., 2008). According to Rosscraig (2007), psychological variables used for segmenting consumer product markets include using attitudes and perceptions, lifestyle of consumers, and the types of benefit sought by customers from products and brands and their consumption choices. The use of attitudes and perceptions aims at identifying segments of respondents who view the products on offer in a similar way (Green et al., 1989). Consumer lifestyles segmentation is based on the analysis of consumers activities, interactions with others, and opinions to understand consumers individual lifestyles and patterns of behavior (Hooley et al., 2008). In 2003, Taylor Nelson Sofres (TNS) developed a UK Lifestyle Typology based on lifestyles and classified the following types of lifestyle categories which are belonger, survivor, experimentalist, conspicuous consumer, social resistor, self-explorer, and the aimless (Rosscraig, 2007). The most important benefits of consumer lifestyle research are for guiding the creative content of advertising (Hooley et al., 2008). The main idea of the benefit segmentation is that the company should provide customers with exactly what they want, based on the benefits that they derive from the products that they use, not based on how the company designs products for them (Rosscraig, 2007). According to Hooley et al. (2008) benefit segmentation tells the basic reasons why customers buy the products and why customers are attracted to the product offerings. Holley (1982) also suggested that the development in techniques of analysis make them particularly suitable for identifying benefit segments (Hooley, 1982). Overall, segmentation on the basis of psychological yields more useful basis for marketing strategy development than merely consumer profile characteristics (Hooley et al., 2008). It gets closer to the underlying reasons for behavior of consumers, so it should be used as the basis for segmenting the market (Hooley et al., 2008). However, there are some major drawbacks of Psychological segmentation techniques, one of which is that this techniques require often costly primary research and sophisticated data analysis techniques (Hooley et al., 2008). Behavioral criteria Doing segmentation on the basis of the behavior of consumers in the market is the most direct method of segmenting markets. Behavioral segmentation includes purchase behavior, consumption behavior, media usage and technology usage (Rosscraig, 2007). Purchase behavior approach concentrates on the time of purchase which is early or late in the products overall life cycle, and the patterns of purchase which is the identification of brand-loyal customers. This approach could concentrate on innovator segmentation, concerning with initial purchase. Marketers will pay high attention to innovator groups when new products are launched. Innovators as initial target segments can improve the products chances of acceptance on the market (Hooley et al., 2008). In addition, brand loyalty has been widely used as a basis for segmentation, concerning with the repeat purchasing (Hooley et al., 2008). A company may segment a market on the basis of how often a customer uses its products, categorizing these into high, medium, and low users, by usage rate (Rosscraig, 2007). The examination of usage patterns and volume consumed can pinpoint where to focus marketing activity and can be used to develop service specifications or marketing mixes for each of these groups of users (Hooley et al., 2008). Cook and Mindak (1984) have shown that product and brand usage has a major advantage over many other situation-specific segmentation variables as it can be obtained, in case of many consumer products, from secondary sources. It is very essential to understand and profile audience media usage in the process of communication planning (Chatterjee, Hoffman, and Novak (1998). Since 1950s the information of media consuming, such as television viewing, radio listening, and print reading, have been continuously collected. And in more recent years, web usage data has also been collected by market researchers to help profile web users, basing on usage characteristics (Rosscraig, 2007) (See Appendix [2-2]). Furthermore, according to Olney, Holbrook, and Batra (1991) and Holbrook and Gardners (1993), duration of use is critical measure of consumption experiences and is a useful behavioral indicator of advertising effects (See Appendix [2-3]). By following this method of segmenting, marketers can observe the behavior of consumers while utilising the products and media, and this segmentation can be used as an important source for new products ideas, new product design, and product development (Rosscraig, 2007). Additionally, marketers can then create appropriate communication themes for product promotion and can specify new markets for existing products after having the right behavioral segmentation. In recent years, behavioral segmentation has become more popular as marketers tend to study the consumers media usage and technology usage in order to further create successful advertising campaigns. To support this, it was asserted by Advertising.com(TM), Inc., a leading provider of results-based interactive marketing services to advertisers and publishers, (2004), that behavioral segmentation helped improve advertising campaign performance by revealing that targeting campaign delivery based on real-time user behaviour increases advertisers ROI by reaching the audience segments most likely to respond to an ad message. Moreover, Hallerman (2004), a senior analyst at e-Marketer, a New York-based research company, stated that the logic behind behavioural segmentation and targeting gets to the heart of the internets potential as an advertising medium. His opinion is hereby quoted: In todays world of audience fragmentation, its much more effective to reach individuals not by abstract demographics but through their actions online. 2.1.4 Segmentation in Male Grooming Products According to Mintel (1995), a study about mens toiletries industry, male grooming products and toiletries is a fast growing industry. In 1980s, the market of male grooming products started to be segmented with the development of products types, including male body spray and shower cream (Sturrock et al., 1998). According to Sturrock et al. (1998), in 1998, the market of mens products were divided into different categories of products based on consumers needs and uses, including body sprays, deodorants, mens shaving, fragrances, shampoo, shower cream, etc. Dunn (1995) and White (1995) studied characteristics of men who use male grooming products and concluded that men used grooming products as they want to increase self-care practice and self-concept. Moreover, Langer (1986) has prior stated that using mens grooming products helps encourage a concern to stay attractive. For consumer products, Milner and Fodness (1996) has done a research on product gender perception and concluded that specific gender of the products is critically important to the consumers when deciding to buy a particular product. In the segmentation process, Milner and Fodness (1996) claimed that gender is the first segmentation variable that most marketers apply for consumer products. The reason behind is that both men and women want to use the products that were specifically made for them. According to Milner and Fodness (1996), many consumers clearly are psychologically uncomfortable using products which do not seem made for them. Therefore, many companies, particularly manufacturers of consumer products, divided consumers into segments by using gender variables. In skin care industries, products are conventionally made for women. However, in the post modern era, a lot of skin care products are launched to serve male consumers (Sturrock et al., 1998). The products for male consumers are launched as a result of segmentation strategy which companies divide its consumer market into two broad categories, male and female markets. The benefit sought variable is also one of the best ways for companies to segment its market. This statement is supported by Kotler (1997) and Wedel and Kamakura (1998), stating that the real features of products have been considered the most actionable bases for segmentation. It is critically important that consumer products must offer real benefits to users to create product positioning (Blythe, 2005). In men face care market, companies and brands always divided consumers segments based on products features. For example, NIVEA FOR MEN offers wide ranges of facial cleansers with benefits of whitening, oil-control, wrinkle protection, refreshing skin, and moisturizing effects (Nivea Website, 2010). Loreal Men Expert offers benefits for facial cleansers which are whitening, anti-tightness, anti-fatigue, pure matte oil control, anti-regreasing (Loreal website, 2010). There are some researches showing that competitive brands have similar ways of segmentation (Dawes, 2006, and Fennell et al., 2003). In other words, competitive brands often appeal to consumers who have similar demographic or psychographic characteristics. Moreover, Ehrenberg et al. (2004) supported this statement by stating that different brands in the same product category tend to offer a similar range of product variants. 2.1.5 Loyalty Segmentation and Relationship Segmentation A focus on Loyalty segmentation provides strategic and tactic insights that will assist in building a strong brand (Aaker, 1996). It is necessary to build customer loyalty as it is a key success of growth for a business (Crosby et al., 2004). By having loyalty segmentation, a company can learn more about the profiles of loyal customers, and this leads to the focus at the highest value segment (Markey et al., 2007). Crosby et al. (2004) stated that the purpose of the loyalty-based segmentation is to seek to address the managerial questions as follows. Who are the most/least potential customers? How can customers be segmented according to the types of relationships they would like to have with the product/brand/company? Which loyalty segment should be targeted? What changes are required to instill the highest levels of loyalty among the targets? Crosby et al. (2004) affirm that loyalty-based segmentation is the complement of existing segmentation frameworks and it can also be used to discover new segmentation frameworks by starting with customer loyalty research. According to Aaker (1996), in focus of the loyalty segmentation, a market can be divided into the following groups. Non-customers: those who buy competitor brands or not product class users, Price switchers: those who are price sensitive, The passively loyal: those who buy out of habit rather than reasons, Fence sitters: those who are indifferent between two or more brands, and The committed: those who are committed to the brand, or a loyal customer. Loyalty segmentation can be very successful when the company can increase the number of customers who are not price switchers and who would pay more to use the brand while the fence sitter and the committed should be critically managed (Aaker, 1996). Especially in high competitive markets, companies should exercise best efforts to enhance the loyalty of the fence sitters and the committed by developing and strengthening the relationship between customers and the brand (Aaker, 1996 and Drypen, 2010). Research from Raaij and Verhallen (1994) indicates that the company should also segment its market by loyalty segmentation method. The results of the research shows that the company should move customers from the lowest level of loyalty pyramid which is overall total potential customers to the highest level which is the heavy buyers. The major marketing strategy is to increase the frequency and intensity of their purchases and to take measures to maintain customers for as long as possible (Raaij and Verhallen, 1994). This also highly relates to the relationship marketing which develop relationship between buyers and brand to stimulate purchasing. 2.2 MARKET TARGETING 2.2.1 Definition of Targeting The next step of the market segmentation in STP process is market targeting. It is the process of determining which segments should be targeted and made the focus of a comprehensive marketing programme. Moreover, in the process of market targeting, a group of customers are identified for whom the offering should be right, and to whom firms will direct the majority of its marketing resources, time, and attention (Cahill, 1997). Choosing the target market, before creating positioning and marketing mix, is a part of developing effective marketing strategy. In order to target the right group of customers, the firm has to study the needs and buying behaviours of customers in each segment. Then the firm will be able to develop marketing strategies that suit requirements of each segment. According to Cahill (1997), a target market is simply the market of submarket at which the firm aims its marketing messages. By specifying customer targets, the company will also know which segments are not the target groups so that the company will not make special effort to serve them. Cahill (1997) said that market targeting is essential because it forces the company to focus at the customers and the markets by determining the best fits between target customers and the product offerings. Kotler and Armstrong (2001) suggested that a firm make the decision how many and which segments to target in their market positioning and its decision should be based on a clear understanding of companys resources and capabilities, nature of the competition, and the characteristics of the market. The company should evaluate market segments by first collecting and analysing data on current segment sales, growth rates, and then determine which segment can constantly enable the company to receive the greatest opportunities in terms of profitability and market demands in order to target main customers. However, Wright (1996) denied statement of validity of market targeting by claiming that there was no logical reason to adopt target marketing. Wright and Esslemont (1994) studied the logical formulations of the target marketing argument and summarised that target marketing did not necessarily give the best overall market response and also does not constantly give superior return than other approaches such as mass marketing. The two main targeting strategies are suggested by Dibb (1997). They are concentration strategy, and multi-segment strategy. Concentration strategy is defined as a process that a company manages its marketing efforts towards a single target. When targeting to one single segment, a firm can better satisfy target customers needs and requirement. However, this strategy is not always effective and the company may face business failure if target customers demand for the products decline or shift to other segments Multi-segment strategy is described as a strategy that a company directs its market efforts towards two or more market targets. The company should then develop appropriate marketing mix to suit each type of target groups, by all together considering product diferrentiation, target price, distribution method, and promotional strategies. In brief, the step of the selection of the potential target market is very critical in creating and developing comprehensive marketing strategy. The robust competitive positioning will then be developed after the market targets are clearly identified and the requirements and motivations are fully examined. 2.2.3 Doing Targeting in Different Market Environment Marketers have to decide whether to target single segment or multiple segments in the product market; there are several factors affecting the managements targeting strategy decisions, including stage of maturity, industry structure, companys capabilities and resources, and opportunities for gaining competitive advantage (Cravens, and Piercy, 2009). The maturity is used as a basis for considering different targeting situations; the market target strategy will be varied in each market environment or stage of product-market maturity. Four different product-market stages, closely related to product life cycle (PLC) stages, include emerging product-market, growing product-market, mature product-market, and declining product-market. The strategists can use product life cycle model to analyse the maturity stage of the products and also industries in order to develop the strategies that should be implemented. Growing product-market Source: Spencer (2009) According to Cravens, and Piercy (2009), segments are likely to be found in the stage of growth in the product life cycle, as identifying customer segments with similar value requirements improves targeting. In growth stage of product life cycle, consumers tend to gain awareness of products and to understand the benefits of the product, and company will likely to expect a rapid sales growth and will also try to build brand loyalty and increase market share (Spencer, 2009). High growth markets is very attractive, therefore it can attract a lot of competitors who want to compete for market shares. Cravens, and Piercy (2009) revealed their finding about the market structure

Irish Literature And Rebellion Essay -- essays research papers

Irish Literature and Rebellion   Ã‚  Ã‚  Ã‚  Ã‚  In the heart of every Irishman hides a poet, burning with nationalistic passion for his beloved Emerald Isle. It is this same passion, which for centuries, Great Britain has attempted to snuff out of the Catholics of Ireland with tyrannical policies and the hegemony of the Protestant religion. Catholics were treated like second-class citizens in their native home. Centuries of oppression churned in the hearts of the Irish and came to a boil in the writings and literature of the sons and daughters of Ireland. The Literary Renaissance of Ireland produced some of the greatest writers the world has seen. John O’Leary said it best, â€Å"literature must be national and nationalism must be literary† (Harmon, 65). Although there is an endless stream of profound poets and playwrights; John Synge, Lady Gregory, Oscar Wilde, etc., this paper’s primary focus is on William Butler Yeats and James Joyce, and their contributions during the Irish Literary Ren aissance and their perspectives on the â€Å"Irish Question.† They preserved the names of the heroes of the past and celebrated the Irish spirit through their writings so that the sacrifice of many would not be in vain.   Ã‚  Ã‚  Ã‚  Ã‚  William Butler Yeats was born in the Dublin suburb of Sandymont on June 13, 1865. Interestingly enough, his family was of the Protestant faith. He wasn’t much of an activist at first and didn’t really care all that much for schooling either, â€Å"because I found it difficult to attend to anything less interesting than my thoughts, I was difficult to teach† (DLB 19, 403). However, in 1886 he met John O’Leary, an old Fenian leader. O’Leary had been a Young Irelander and fought in the insurrection of 1849. He took Yeats under his wing and introduced him to the world of fenians and fenianism. His influence on Yeats’ writing is undeniable. Yeats began to write â€Å"in the way of [Sir Samuel] Ferguson and [James Clarence] Mangan† and evolve his nationalism and anti-English sentiment (O’Connor, 165). Yeats, like Ferguson, saw â€Å"literature in Irish was an essential part of the education of any Irishman and tri ed to make it so† (O’Connor, 150). He toured Ireland and established the National Literary Society. His greatest ambition was to unite Catholic Ireland and Protestant Ireland through national literature. He loved Ireland and the Irish... ...rs this to be â€Å"the real voice of the Irish middle class† (O’Connor, 161). Throughout â€Å"Ivy Day in the Committee Room,† we are introduced to a cast of characters who have been out shaking hands and kissing babies. They sit around and slowly warm themselves back to life by the small fire and sipping on stout. The discuss politics and life, each other, and the anniversary of the tragic loss Charles Stewart Parnell. The story ends with the reading of a poem written in memory of Parnell, which declares him the â€Å"Uncrowned King,† and concludes â€Å"The day that brings us Freedom’s reign. / And on that day may Erin well / Pledge in the cup she lifts to Joy / One grief – the memory of Parnell† (Joyce, 116). Through the words and verses of Yeats and Joyce and all the writers of the Irish Literary Renaissance, the memories of the brave have survived. The purpose of the their writing was to kindle the patriotic flame of the Irish and work towards a united Ireland. In the troubles of today, the memory of the sacrifices of yesterday are still strong within the culture and traditions of the Irish. Someday, their dream and the dream of so many who have gone before them will be recognized and achieved.

Job Satisfaction Important Factors Assignment

I was appalled when I saw the first set of graphs conducted on the 600 employees, ND that the balance between life and work was so low on the list. Honestly, now that I have a child at home, I chose that as one of my top 5, but If you would have asked me two years ago I probably wouldn't have put that as an important aspect. I obviously chose Job security because no matter what, I want to know that I am Important to the company and that they need me to be there in order for everything to run smoothly, which In turn will almost guarantee that I will always have an available position within that company.The second most important Job aspect to me is the availability for career advancement. I am the type of person that always wants to better herself and to climb right up that corporate ladder. I don't ever want to settle with a position when I know that there is one higher and within my reach and ability if I were to try hard enough, and to complete the tasks necessary to gain that posit ion. So if a company does not have the opportunity for advancement, then it is not the right place for me, and I probably wouldn't even consider working there.Pay is obviously important because it is what make after working hard all day long for the company. It Is also what helps to support my family. As we've all heard â€Å"money makes the world go 'round†. I want to be rewarded for my accomplishments and to know that I am Important by the amount of money I make. The way I see It, the better I am at my job and the harder I work, the more money I make the company, so, why shouldn't I be rewarded for that? The fourth most important aspect to me is benefits.This also would not have been Important before I had a family. As a high school or even young college student, you don't think â€Å"l want to get great benefits when I graduate†. I honestly didn't even know what the word meant until I moved out of my parents house and got a Job on my own. Now that I have a family th ough, the benefits are most definitely an Important aspect of any Job. After reviewing the chart by the SHIRR my results are much more Like theirs than on the website. My numbers 1, 3, 4, and 5 are all located within the top 5 on their chart.My number 2, Career Advancement was not located anywhere on the top of can't, out actually second to last. I Nils contuses me, Decease tenet under two Is compensation and pay, but in order to make more money, you must advance your career. The farther up the corporate ladder you are, the more money you are likely to make. I guess when taking part in the survey people were not thinking about advancing their careers to make more money, but maybe were happy with where they were within their business. It is most definitely possible to get a raise in pay without changing positions and advancing.Everyone has different ways of thinking and maybe other people are not like me. Maybe they do not like change and want to be within the same position for as lo ng as that position is available to them. There is no wrong or right when it comes to people's opinions. I was glad to see that more people polled for Flexibility to balance life and work issues as I believe this is important to anyone who has a family or wishes to have one. I would say that between all three charts Compensation and Benefits have topped them, which proves the saying â€Å"Money Talks†.