...Collegiate Promotions Charity Bailey Professor Garrett HRM 530 March 11, 2012 In this assignment is to evaluate the compensation package the company uses to pay their sales representatives, also compare pay scale of the independent contractors. Next is to review how lack of sales affects the pricing and the behavior of sale representatives. Yes, the compensation system is very effective whether or not independent representative sales anything or not. The company will continue to make money from the product. If the independent sales representative makes enough in sales, the more products the representative will purchase from the company. Compensation is an important factor why people choose to work for an organization. An effective compensation system in an organization is linked to the organization strategies. The three objectives of any compensation system are to attract workers, retain the best employers and motivate employees to help the company achieve its strategic goals. Employers must balance compensation cost that both ensure organization competitiveness and compensate employees. The way collegiate promotions structures their business that independent sales representative determine their own compensation. For collegiate promotions this strategy works because the company is able to reduce their overhead by increase their sales force. The sales representative would sale at the high end of the scale in order to maximize profit. Sale positions...
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...Assessment #5 Collegiate Promotions Strayer University HRM530 Section May 29, 2011 Week 10 Assignment 5 Outline I. I believe that the compensation system at Collegiate Promotions is an effective system because of the following: a. The commission compensation system is an effective system to attract sales people. Sales people who are aggressive tend to favor commission-based pay. Sales people who excel at sales will favor the compensation system because they are willing to accept the risks associated with low sales. b. The compensation system at Collegiate Promotions is an effective system from the employee’s point of view. Employee’s willing to accept the risks of low sales favor commission because it has a major advantage over salary. Commission compensation usually results in higher pay than salary compensation. c. The compensation system is an effective system because the commission range for the sales of novelty goods is up to fifty percent of the sales total. Sales representatives at Collegiate Promotions receive a commission of half the amount charged over the wholesale price. The compensation system at Collegiate Promotions is effective because it does not include a base salary so sale representatives earn fifty percent of the amount charged over the wholesale price. d. The compensation system is an effective system because sales representatives are not employees of Collegiate Promotions. Sales representatives work for themselves and have independent...
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...Evaluate whether or not the compensation system at Collegiate Promotions is effective. I think the compensation system at Collegiate Promotions is very effective. Collegiate Promotions structures their business around the Sales Representatives, who basically control their own destiny. The Sales Representatives are compensated based on the amount of products they sell. For Collegiate Promotions this strategy works because they are able to cut a lot of their overhead by and increase their sales force. Collegiate Promotion hires these independent Sales Representatives that is able to move their merchandise without the need of funding store fronts which helps them cut cost by removing rent and personnel from their operating cost because the need for those services are gone. This will simultaneously increase their sales because now they have more representatives out there pushing their merchandise without boundaries and all the overhead cost. With compensation in mind because you're in business to make money as a Sales Representatives you have a decision to make. That decision is at what price to sell your merchandise. The 30% to 50% commission is the correct money amount to make on an item using a piece-rate compensation model. The sales representative should be very appreciative about the amount of commissions they will be making on each product. They may see a down side of selling such products during lean times in the marketplace and they may desire a base salary to fall back...
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...I believe that the compensation system at Collegiate Promotions is not an effective system because of the following: a. The compensation structure is straight commission based, and sometimes straight commission based employee’s think of themselves as free agents and they have little loyalty to the organization. Because the employee’s pay is based on how many products they sell, they may act unethically towards the customers and other salespeople in an attempt to become the best salesperson and get top pay. Unethical acts could include lying, cheating, misrepresenting the company, and other deceptive acts. b. With the straight commission based structure, turnover may be high because employees may seek other sales jobs if they are not doing well or if the other job includes a base pay, benefits, or other incentives that the straight commission job does not offer. c. Straight commission jobs may present financial difficulties to the employee because income is so uneven. Take home pay can be high one month, but low the next month if sales is not good. Employees may eventually get tired of the ups and downs in pay and may not seek long term employment with the company. II. Most sales representatives will choose either to sell at the top of the bottom of the price range. a. The following are reasons a sales representative might sell at the top of the range: 1. To obtain the highest commission and take home pay as possible. 2. To differentiate their...
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...……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………….000000000000000000000000000000000000000000000000 Collegiate Promotions Human Resource Mangement/530 Dr. Donny Bagwell Evaluate whether or not the compensation system at Collegiate Promotions is effective After evaluating the case study I have determined that Collegiate Promotions compensation plan is not only effective but aligns with the organization’s competitive strategy. Collegiate Promotions strategy seems to be earning the most profits with the least risk possible. Collegiate Promotions clearly focuses on individuals who are self motivated and excel as sales representatives. Collegiate Promotions focuses on independent contractors as their workforce and way of making profit. By hiring...
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...Assignment 3: Outback Steakhouse 2/12/2012 1. Discuss how the employee selection methods at Outback Steakhouse help the organization achieve a competitive advantage. According to Hellriegel and Slocum (2010), effective employee selection is a critical component of a successful organization. How employees perform their jobs is a major factor in determining how successful an organization will be. Job performance is essentially determined by the ability of an individual to do a particular job and the effort the individual is willing to put forth in performing the job. Through effective selection, the organization can maximize the probability that its new employees will have the necessary skills to do the jobs they were hired to do (Hellriegel & Slocum, 2010). The selection process within Outback has allowed it to become the market leader in hiring and maintaining the most competitive workforce. Outback exercises a rigorous process in employee selection in order to acquire the best employees with exceptional qualities that not only enable them to deliver the best services, but also to retain employees and reduce turnover. The selection process involves five major steps. The first step involves offering employees a preview of responsibilities and duties that they will be charged with as employees and how they will be held accountable. The second step involves sharing with the prospective employee the dimension of performance overview, which states the expected behaviour...
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...very huge impact on employee attitudes and behaviors, which influences which kinds of employees are attracted to (and remain with) the organization (Noe, Hollenbeck, Gerhart, & Wright, 2011). An effective compensation plan plays a dynamic role in all organizations. When an ideal compensation system is designed, it will have a positive impact on the efficiency and results produced by employees. Evaluate whether or not the compensation system at Collegiate Promotions is effective. The compensation system at Collegiate Promotions is highly effective as it is designed to attract, retain, motivate and reward a quality work force of independent sales representatives. They employ independent sales representatives to achieve more sales, faster, and at a lower cost than other recruiting methods. According to Simon (2010), in today's economy with the rising costs of employee benefits and increasing pressure from international competition, U.S. manufacturers are looking for every advantage they can get. Collegiate Promotions is able to save a tremendous amount of money by alleviating the expenses of employee benefits, compensation and all of the overhead costs associated with recruiting employees. The greatest benefit for this option is that it reduces financial risk for the company dramatically. Since the independent sales representatives work on commission, they are only paid when they complete a sale. Compensation Master (2011) states that more experienced sales...
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...product, price, place and promotion and collectively they are referred to as the 4 P’s. The 4 P’s are very much the foundation of marketing in in this essay I will define each of the 4 P’s and discuss their roles within the marketing mix of the petrol retail environment. This essay will then conclude with a review of the 4P’s, their relevance within the marketing mix and their overall significance within the retail petrol environment. PRODUCT Product can be defined as what is exchanged in a sale with the customer, whether that is a good, service, idea people or places. Within the retail petrol environment there are countless products, the majority of which are non-durable goods such as the core product of the outlet, fuel, and all the convenience products such as the food, drinks and entertainment products (magazines etc). Many retail petrol outlets have become stores within a store, where there is the main store that sells the petrol and convenience products, and a second store that is a fast food outlet. These stores within a store add to the appeal of outlet, customers understand that they have a greater choice and subsequently a greater chance that their needs can be satisfied. Jerath and Zhang commented that “the introduction of new products through stores within a store can bring new customers to the store who want to purchase the focal product and also purchase other products” (Jerath and Zhang, 2010, pg 756). PRICE PLACE PROMOTION...
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...Using aims and objectives to create a business strategy Using aims and objectives to create a business strategy Introduction Kellogg is the world's leading supplier of breakfast cereal with 39 brands and a 42% share of the UK market. Kellogg's success is achieved through the use of a carefully planned strategy. It sets clear aims and objectives and uses the strength of its brands to help it reach them. Kellogg manages its brands to ensure that each has a unique position in the minds of its customers. This is called product positioning. Kellogg has developed a range of products for the various segments of the UK's £1.1 billion cereals market. Developing aims Kellogg's managers realise that its aim needs to match the expectations of its consumers. Consumers, backed by research and publicity, increasingly want to lead a healthier lifestyle. Kellogg wanted to be part of this debate and to promote the message 'Get the Balance Right'. It also wanted to show that it was a responsible organisation. This idea of corporate responsibility was also built into planning. Its aim – the broad statement of where it wanted to be – was therefore to reinforce the idea of a balanced, healthy lifestyle. Objectives Once a broad aim is set, managers then set specific objectives that can be measured. Objectives need to be SMART, i.e. specific, measurable, achievable, realistic and time related. Objectives were set in three main areas: * encouraging and promoting physical activity for health...
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...Date of Submission Introduction The marketing is an essential business tool used by marketing professionals in determining a brand’s offering. It is normally described as the four P’s of marketing; the product, price, place, and promotion. However, in some cases, the four P’s have been expanded to incorporate other elements thus making them five or seven P’s with some scholars. The four P’s of marketing will be discussed. Product Product is anything that satisfies a need or wants and can be offered in an exchange in its tangible (good) or intangible (service). The product may either generate a functional or a linking relationship with the prospect. The functional relationship refers to the value of using the product. The product’s value is crucial in the purchasing decision process. The link with the product may be defined by the complementarity between the client and the product. It is the basis of individuals’ interests in the product. If the perceived link lacks in a product, no interest may be derived in the product. The product has several dimensions such as a support system, attributes, and benefits. The support system entails features such as the sales force, advertising, warranty, delivery, promotion systems, and reputation. Attributes include features such as the ingredients, style, quality, brand, and package. There are several benefits that may be derived from a product and such entail functional, psychological, sensory, economic, and social...
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...Task 4 Jasmine Tucker Promotional activities Suitability of the promotional methods- Although I have came up with four different methods of promotion I will have to analyse the suitability of each of the methods. I will have to see if the budget that TOPSHOP currently have will be enough in order to be able to afford to use these methods, I will need to ensure that these methods would work within the town and I will also need to ensure that each of them would work within the business. Method 1- Newspaper article. As you can see below I have created a newspaper article that I would like to show in The Bucks Herald, one of the most popular local pages. The reason In Adv- primary research shows that majority of pregnant people read newapaper Adv- The bucks herald is a local newspaper with … readers and whole range will be shown Disad- Even though pregnant people read newspaper it would not be for sure they would see article Disadv- article is quite small and therefore customers would not be able to Cost- Metod 2- Merchandising Explination Adv- whole range will be shown Adv- by having in shop window pregnant people will become aware Disadv- hiring a merchandiser is quite expensive Disadv- if maternity id on mannequins for 6 weeks the other ranges wont be shown and may stop selling as well Cost Method 3-Competition Explination Adv- interactive...
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...Marketing Learning Transfer The Four Ps: Controllable Marketing Mix Factors Tools to develop a complete marketing program to reach the target market consumers. Product. A good, service, or idea to satisfy the consumer’s needs. Price: What is exchanged for the product. Promotion: A means of communication between the seller and buyer. Place. A means of getting the product to the consumer. The 4 Ps elements of the marketing mix must be blended to produce a cohesive marketing program. Consumer Purchase Decision Process and Experience The stages a buyer passes through in making choices about which products or services to buy is the purchase decision process. This process has five stages: Problem Recognition. The initial step in the purchase decision, is perceiving a difference between a person’s ideal and actual situations big enough to trigger a decision. Information Search. After recognizing a problem, a consumer begins to search for information. First, you may use internal search (scan your memory for previous experiences with product or brand). In other cases you can you external search for information. The primary sources for external information are: personal sources, public sources and marketer-dominated sources. Alternative Evaluation. The information provided might be inadequate because it does not contain all the factors you might consider when evaluating a product. These factors are a consumer’s evaluative criteria. Purchase Decision. Having...
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...CiTylinK Promotion General Terms and Conditions CiTylinK Promotion General Terms and Conditions These Promotion general terms and conditions apply to each and every Promotion. In addition, all instructions, rules and conditions relating to a specific Promotion form part of these general Promotion terms and conditions but in the event of conflict these provisions shall prevail. Standard CiTylinK Terms and Conditions (including Terms and Conditions for Passengers and Baggage, Carrier’s Regulations and Privacy Policy) apply (please visit www.flycitylink.com for full details). In the event of any conflict Standard flycitylink.com Terms and Conditions shall prevail over these provisions. CiTylinK reserves the right to change the terms and conditions of its Promotions (and any Standard CiTylinK Terms and Conditions) at its discretion. Promotion A Promotion is an entitlement to a Discount (up to the amount stated) off a qualifying booking, including airfare, taxes and charges. A Promotion is valid on the CiTylinK website, at all CiTylinK sales outlets and all ticketing agencies as well as for corporate clients who operate their own ticketing accounts with CiTylinK. A Promotion is subject to availability and is not an indication of availability. In particular, CiTylinK reserves the right to cancel a Promotion. A Promotion is not an entitlement to make a specific booking or to travel on a specific date or via a specific route. Redeeming Promotion A Promotion can only be...
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...Walking into work that Monday morning my stomach was in knots. I was about to find out if all of my hard work and dedication to the company will be nothing but a waste. This is the day we learned that the company will be laying off 25 workers. I have worked for Sams Club for six years now. About a year and a half into my career at Sams I was given a promotion. I was offered a job working in the claims/receiving department. This may not seem like a huge promotion to most, however in a retail situation it is. I not only received a major pay jump but I also was guaranteed a Monday thru Friday, early morning shift. I feel like everyday that I am at work I challenge myself to not only learn more about the company, but to also to help any other department that I can. Although I love my job, it is very routine. Every morning we have what is called a “ten minute win”. This is basically a ten minute meeting with at least one person from every department. Typically these meetings are “all the same” as most employees will tell you. However, there is one meeting that I will never forget. This meeting was held on a Monday morning and everyone in the club was told specifically to attend. When I got to the meeting room everyone was silent. James, the general manager of the store, started to talk. He went on about how sales were down and about how bad the economy was getting. James also talked about how diligently the company was working on ways to boost sales, however...
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...Running head: UNIT 3 ASSIGNMENT MT450: Marketing Management Tim Byington Haas Chiropractic Clinic Haas Chiropractic Clinic and the services that they provide is the chosen subject for this paper. The four P’s will be discussed and how they relate to Haas Chiropractic Clinic. They include product (service), place (distribution), promotion and price. The first of the four P’s is product or service. According to the text the product includes “not only the physical unit but also its package, warranty, after-sale service, brand name, company image, value, and many other factors (Winer & Dhar, 2011).” For Haas Chiropractic Clinic this includes the many services they offer, their image as a clinic that is always giving back to the community and the value of their services. At the clinic there are several services that are offered. Obviously, this includes chiropractic care such as adjustments, spinal decompression, Graston and corrective care. They also offer corrective exercises, lifestyle advice, nutritional counseling. The physiological therapeutic procedures include interferential electrical muscle stimulation, ultrasound and mechanical traction (www.haaswellness.com). Haas is constantly finding new ways and continuing to give back to the community. They do this is several way several. One is to have fundraisers for things such as school supplies and coats for kids. This last fall they raise $2500 worth of school supplies. As of now, they...
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