Marketing Assignment:Demarketing The business world is competitive, and many companies spend a lot of money marketing their products or services. However, there are situations when the industry decided to do demarketing to reduce the demand for goods and services. Therefore, demarketing is the process in which a firm or organization discourages the consumption or use of their product and services. It can also be defined as advertising goods and services to reduce the demand that is in short supply; thus, it discourages consumers from acquiring the said products. An example or case scenario of demarketing in business has been witnessed with the TATA group. Since the production of Tata Nano by TATA Company, its demand kept on increasing daily. With time its need outweighed its supply. To carry out demarketing, the firm stopped marketing Tata Nano and focused on other products produced by the same company. The choice was beneficial to the company since, in the long-run, they generated massive profit from the sales of other products as well as from the Tata Nano that was still available. However, demarketing…
Fascism, Capitalism, Socialism and Communism Introduction A political system can be defined as a body that is responsible for government official decision-making process. The movement makes decisions on economy, legal systems, culture and all other departments of a country affecting the economic status of a nation. This discussion will elaborate on capitalism, communism, fascism and socialism political systems. Capitalism Capitalism refers to an economic scheme where almost all means of production are privately possessed and run. Additionally, the capital and manufacture reserves, delivery and commodities’ charges are determined by the free market but not by the state; hence production is run for profit generation by private entities. In capitalism, private entities all the four factors of production, including labour and entrepreneurship. It is characterized by private ownership and the income derived from the purchase. The supply of goods and services depends on laws of supply and demand, which call for an increase in price with increasing demand (Holcombe, 2015). Additionally, in capitalism, there is a free capital market operation where demand and supply set prices of commodities. Capitalism has some…
Do you believe the company has adjusted to the change? The 1998 Daimler Chrysler merger became one of the largest industrial mergers in history at the cost of $35 billion. It was considered a merger of the equals with one of the companies being one of the best German manufacturers boasting of the Mercedes brand while the other an American carmaker boasting of the Dodge and the Jeep that captured at least a quarter of the American market. However, a few years later, it was clear that the merger would not go far. The employees spoke clearly of the fact that there was a cultural clash of the two companies despite a series of meetings held between the management and the employees. The truth is that Daimler had taken over the operations of the Chrysler Company while they took pride in their Nissan brand and eventually considering the other brand as inferior. In addition, the leaders from both organizations took control of the operations of the merger but hardly communicated. This also resulted in the failure of the merger. What…
Management Plan Assignment How the software selection process works The EHR selection process is the most crucial phase of implementing a new EHR system. The EHR effective selection process involves the information gathering process. The information-gathering process will enable the implementation team to establish the selection criteria that would incorporate inputs from various stakeholders in the facility in order to come up with a comprehensive list of EHR features that would work for the facility’s goals and objectives (Health Technology information, 2016). After the team prepares the list of EHR with desirable features applicable to the facility, it will create a list of EMR systems that would meet the selection criteria. The team will first conduct a Requirement gathering to determine the EHR system requirements and to evaluate the EHR vendor. What contract negotiations should involve and include The contract negotiations that would be included between the EHR vendor and the team are standard form EHR contracts, negotiation strategy used, technical advice, and example contract terms. All the four EHR contracts between facility implementation and EHR vendor will be signed…
Does Your Customer Experience Live up to Your Brand Promise? In recent years, interactions between businesses and consumers have evolved. Thanks to increased competition for companies and technological advancements that give consumers access to a wide range of products and information, markets are now customer-driven. As a result, it’s now just as crucial for businesses to offer impeccable customer experience as it is to produce excellent products. This is why there’s an 80% difference in performance between organizations that lead in customer experience and those that are poor at it. For consumers today, shopping is not just about getting the product they need but the experience as a whole. This is why close to 90% of buyers are willing to spend more for better customer experience. Therefore, for your company to thrive in this consumer market era, you must prioritize customer experience. Other than offering great products, your brand must live up to its promise to consumers. Achieving this requires establishing a corporate culture that’s focused on giving customers a great experience. Read on to find out how you can…
Samsung Company Business Model Samsung Company started its operations in 1969 and years after, the company has experienced tremendous developments which have earned it international reputation (Long, 2013). The company success is attributed to sound management and creation of a sound business model which have ensured that the company produces outstanding products. Samsung Company conducts operation sin two segments which include; end product division and component division. The end product division emphasizes on the production of digital and communication devices (Madani, Abdulai, Ha and Koosawangsri, 2014). On the other side, component division emphasizes the production of semiconductors. The operation of the Samsung Company has been categorized into different segments, thus forming a sound business model of the company. The segments include; Consumer Electronics, IT & Mobile Communication, and device solution (Singh, 2018). . With the quest to enhance its profitability and ease the management of the Samsung company, the company has been divided into diverse segments which have made it easy to manage and account for the operations within the company (Madani et al., 2014). According to Nicholas Long, the…
Importance of market analysis and how it fits in the broader theme of strategic management Substantial market analysis on both competitors and customers are the reason for the most successful products, services, and businesses that are present in the market currently. Market analysis is the first and most crucial stage in marketing plan development, which is a vital component of strategic management (Lasserre, 2017). It refers to a continuous process of comprehensive data collection to determine the extent to which a product or service will or is meeting the needs of its intended customers. Also, market analysis assists the business in getting valuable insights about the market, including a shift in the economy, ongoing market trends, competitors, customer’s tastes and preferences, as well as the demographics making it a crucial component that provides companies with all vital information that help make wise and strategic business decisions. Companies aim to satisfy a given element in the market. Thus they need to study the market to understand it, know how it changes, and various upcoming events to…
COMPANY MAPPING, ANALYZING AND TESTING SOLUTIONS Staff shortage is very stressful while making sure that an organization is operating normally (Nithithanatchinnapat & Joshi, 2019). Such a problem may lead to a company losing revenues. Staff shortage is mainly caused by the recent departure of staff from an organization. It can also be caused when the demand for workers increases, but the size of the team providing service remains the same. Staff shortage usually leads to many excuses that may lead to a decline in the productivity of a company. Staffing is key since most of the operations of the company are done by staff. If a company is straining in having team to deliver to customers, it may create a situation that a company is unable to meet its expenses. If customers receive poor services, then most of them tend to diverge from the company to other companies that offer the same services. The company ends up lacking cash flow, which may lead to more staffing problems if they are unable to meet the demands of the employees. Therefore, there…
Digital Business: LEGO Company limited Introduction Digital business is the use of technological improvements to improve or create better value in experiences of the customer, models of business and internal capabilities that uphold the key activities (Chaffey, 2019). It goes hand in hand with marketing which is the process of identifying, acknowledging and meeting customers’ wants. E-commerce which is the purchasing and selling of commodities through the web and the transfer of data and money to execute the transactions is an essential of digital business. In this case, I am going to base my work on LEGO Company limited which deals with movies and mobile games and applications. LEGO is currently appealing to today’s digital strategies to serve its customers (Kane et al., 2017). Its uses medial social models like LEGO boost, which is an app that enables children to code and encourage social networking. LEGO’s online community enables fans to submit their opinions. This paper entails analyzing digital business theories and application of marketing and e-commerce. Evaluating e-commerce and digital models of business with the opportunities and difficulties of…
communication to the employees from the senior management The method that is effective in communication to the employees from the senior management is the use of email. The advantage of using email communication is that it is fast, convenient, cheap and permanent. The email communication increases productivity and efficiency in the business. It is said to be reasonable in that the cost the managers will incur in conversation will cheap regardless the number of people communicated. It gets considered a fast communication method in business. When the email gets used, the information reaches the recipient in a few minutes that make the communication to be effective. The message that is communicating is convenient in that it is stored until the recipient gets ready to read.it and also it can be sent to many people. An organization with many employees should use email communication because of convenience. The email communication is also permanent in that the message that gets communicated get stored in the recipient with all details. The details include the date the information was delivered the specifics of who…