...business. To survive in the market, a firm or an organization has to be constantly innovating and understand the latest consumer trends and tastes. Marketers need to understand consumer behavior because the decision-making process for consumers is anything but straight forward. Consumers’ behaviors and their purchasing patterns is a huge advantage to understanding the way customers think and the reason for their purchases. Therefore, the study of consumer behavior is important because it allows the marketers to understand the factors which influence the customer’s thoughts while buying any products or services. There are many factors that can affect this process as a person works through the purchase decision, such as external, internal, and marketing influences. For example, culture, group, or purchase situation are just a few of external influences. Perceptual, attitude, personality, lifestyle, roles, and motivation are a few of internal influences that can affect a consumer’s purchase decision. Marketing strategies, such as price, product, place, and promotion influences the consumer as well. The number of potential influences on consumer behavior is endless. However, by understanding the key influences, marketers can adapt and improve their efforts to take advantage in a way that will satisfy both the consumer and marketer. Not only is understanding consumer behavior importance to marketers, it should be important to the consumer as well. Personal consumption journals are just...
Words: 1905 - Pages: 8
...Corporation: It is one of the leading Japanese trading companies. Gonofone Development Corporation: It was established in New York in the early 1994 for the sole purpose of organizing Grameen Phone. The major lenders are International Finance Corporation, Commonwealth Development Corporation, Asian Development Bank and NORAD. It has given Grameen Phone loan of 50 USD. It also has preferred shareholders of USD 5 million. Industry analysis General environment Macro-economic: Grameen phone is doing business across the nation. So macro-economic variables like purchasing power, exchange rate and GDP growth has profound impact on its future. The main source of revenue for a mobile phone operator is not revenue from selling set or line but from call charge. If the overall economic condition is not suitable, then...
Words: 1263 - Pages: 6
...Chapter 4 Product and service design It is the major factor in - Cost - Customer satisfaction - Quality - Competitive advantage - Time-to-market Objectives of Product and Service Design Main focus - Customer satisfaction - Understand what the customer wants Secondary focus - Function of product/service - Appearance - Cost/profit - Ease of production/assembly - Quality - Ease of maintenance/service Product or Service Design Activities 1. Translate customer wants and needs into product and service requirements 2. Refine existing products and services 3. Develop new products and services 4. Formulate quality goals 5. Formulate cost targets 6. Construct and test prototypes 7. Document specifications Reasons Design or Re-Design : The driving forces for product and service design or redesign are market opportunities or threats: - Economic - Competitive - Social and Demographic - Cost or Availability - Political, Liability, or Legal - Technological Regulations and Legal Considerations Product Liability : A manufacturer is liable for any injuries or damages caused by a faulty product. Uniform Commercial Code : Products carry an implication of merchantability and fitness. Designers Adhere to Guidelines - Produce designs that are consistent with the goals of the company - Give customers the value they expect - Make health and safety a primary concern - Consider potential harm to the environment Other...
Words: 5535 - Pages: 23
...Political factors are the level of government intervention in the economy that include such as Antitrust regulations, tax policy, special incentives, foreign trade regulations, environmental and labor law, trade embargo, tariffs, political stability, industrial relations and others. In the context of logistics M&A, these will be important especially for firms that are operating in China, India, Vietnam. Using India as example, apart from the non-uniform tax structure, logistic companies in India have to pay numerous other taxes, octrois, and face multiple check posts and police harassment. High costs of operation and delays involving compliance with varying documentation requirements of different states make the business unattractive. On an average, a vehicle on Indian roads loses 1-2 days in complying with paperwork and formalities at different check posts en route to a destination. Fuel worth up to estimated USD 2.5 billion is spent on waiting at check posts annually. Economical factors include economic growth, interest rates, exchange rates, increasing globalization, creation of WTO, trade agreements among regions such as ASEAN, NAFTA, EU), emergence of the Indian & Chinese economies and others. These factors have major impacts on how businesses operate and make decisions. In the context of M&A for logistics sector, economic deregulation plays an important part. Economic deregulation has led to carriers such as airlines (Air France with KLM to in 2004) shipping lines (P&O...
Words: 586 - Pages: 3
...MGT/421 Individual Environmental Factors Wal-Mart Shirley A Everett April 24, 2012 Robert Stack- Facilitator Effects of Global Economic Interdependence Globalization in the economic context is related to the increase of individual businesses that operate in a range of countries. Therefore, Globalization stimulates economic growth, creates jobs and raises income levels. Globalization is marked by free trade, free flow of capital and cheaper foreign labor markets. Globalization has several facets, globalization of markets, merging historically distinct and separate national markets into one huge marketplace, and globalization of production, sourcing of goods and services from locations around the globe. There are still many challenges in the global market, for example; distance, time zones, language barriers, cultural differences, currency issues, as well as national government regulation issues, and business system improvements. Still, the world is looking smaller through globalization. In the case of the Wal-Mart as a Multi-National Corporation (MNC), the factors that affect its global and domestic marketing decisions are based on their striving to continue to dominate the retail market of the United States, and continue to build their presence around the world. The strategic planning of Wal-Mart approaches global expansion with a regionalized marketing campaign. Wal-Mart’s global focus is on finding low cost products from around the world, importing those products...
Words: 1350 - Pages: 6
...Case Analysis: Euro Disney There are many environmental issues that affect businesses when entering a foreign market, the main environmental factors that will be discussed is as follows: technological, economic, social, political, and demographic. Each factor will impact the business different and cause various degrees of impacts on the company and its decision to enter a foreign market. Euro Disney, a foreign division of Walt Disney Company; is located France and opened in 1992 to service the people of France. Researchers had discovered that like the many people in the United States, foreigners also were attracted to the whole them park idea. When Disney decided to launch Euro Disney, many issues were bough up and many environmental issues were faced; in this paper these issues will be briefly discussed. First off the cultural differences that existed between the US and France had to be discussed and worked out, for example the weather in France was an issue when determining rather the park would be a success or not along with the staff who would ultimately become family to the Disney Corporation. Fist off the economic factors, which are usually income, expenses, and resources; that Disney faced when deciding to build Euro Disney were easily noticed and overcame. Issues such as attraction and income it generated played a huge part in the economic factors, in the beginning Euro Disney estimated that during the first year it would attract 11 million visitors achieving...
Words: 790 - Pages: 4
...affiliation, race and gender, Managers should strive to hire the best candidate for a position. This paragraph relates to paragraph 3 on the appendix talking about the “Caste” system which defines a “Caste” as a group of families whose members can marry with each other and eat in each other’s company without believing themselves polluted. This also relates to black and white segregation in the United States. As managers we should know this ethically wrong in business, employees should be hired based on their capability to perform their job description task and not based on race, political affiliation, gender and societal affiliation. To my understanding, I believe second paragraph talks about “Cultural Beliefs” of a particular society, it means as managers we should strive to familiarize with the cultural values or customs of a society we conduct business in. Even if such customs are discriminating in nature we should be diligent and try to make the right decision to make the business environment conducive. But it does not mean employment should be at any time...
Words: 1024 - Pages: 5
...características de los clientes y políticas para el manejo de las líneas de espera en los supermercados El termino caja rápida, caja preferencial (para discapacitados, embarazadas y personas de la tercera edad) o solo efectivo son términos comunes en los supermercados del Reino Unido y en la mayoría de los supermercados en el mundo para evitar grandes filas de espera para poder cobrarle al cliente ¿Tienen las cadenas de supermercados que tener políticas generales acerca de las líneas de espera para todas sus tiendas o tiene que adaptarlas a la zona en donde está ubicado el supermercado? Este artículo, escrito por Roger Bennett, tiene como propósito encontrar la respuesta a esta pregunta con pruebas estadísticas. Las líneas de espera es un factor significativo al momento de calificar el servicio de un supermercado. En este tipo de servicios se está utilizando un modelo tipo M/M/S dado que tiene varios servidores con filas propias. El disgusto de los clientes acerca de las filas de espera se basa en la idea de que las personas suelen experimentar malestar emocional mientras espera en línea, siente que son momentos de su vida desperdiciados dado que o tienen otras actividades con mayor grado de importancia o tienen un perfil psicológico estresante y de impaciencia. Para la investigación, el consumidor se dividió en dos tipos; “Tipo A” son individuos que poseen un exagerado sentido de la urgencia y se irritan fácilmente y “Tipo B” una persona relajada, asertiva y conciliadora...
Words: 5711 - Pages: 23
...My interpretive community In each and every community have come to encompass a number of aspects of human being as unique or individual personalized by their society. This has led to condemnations of human cloning from the unique side as a human being for a different perspective in life. The culture of India refers to the customs, beliefs, traditions, languages, ceremonies, arts, values and their different life style. For example, when you are standing inside the subway counter like: There are communities of Christians, Muslims at my left hand side; and communities of Hindu, Jain, Sikh at my right hand side! But when I put them together in SUB, it becomes our delicious and beautiful "INDIA"! Indians by nature believes in faith and religion. I grew up in Indian culture as per my parents. So I am the only solid concern and can tell that this community has their own different believes. Being Hinduism, I believe in karma and all mighty. I strongly believe in this statement “God doesn’t give you the people you want, he gives you the people you need. To help you, to hurt you, to leave you, to love you and to make you the person you were meant to be.” I have a faith in all mighty gods since I was little. There was a time that I feel and saw from my real eyes. One day, my mom was trying to cross to road and suddenly one car passed by her with rear wheel on her one feet. She realize after that car passed but her feet was absolutely fine and nothing happened. She was...
Words: 865 - Pages: 4
...TABLE OF CONTENTS Abstract 3 Reasons for project failure 4 What to do when project goes wrong 8 Project management 10 Project methods 15 Managing Talent 17 Managing Client 20 Data Interpretation 22 Summary 25 References 26 ABSTRACT The main of this project is to predict the reasons for project failure in the organization. When a project failed in an organization project team and the management go mad and they behave in an improper way which is not appreciable. So in this paper I discussed some issues regarding, to handle the situation when a project goes wrong. To prevent this mistake in further cases I suggested methods which can prevent the project to fail. For this I used concepts of project management with various methods like discovery, develop and deploy. Along with that I also discussed some techniques in managing and using the talent of the employees. As we all know clients pay key role for a project, so I also discussed some techniques in managing the client. As a final note I summarized my opinion on project failures and prevention of project failures. INTRODUCTION Amara Raja Batteries is a multi-national company located in Tirupathi, India. It was established in 1985 by Ramachandra Naidu Galla under Amara Raja Group of industries. In 1997 Amara Raja Batteries signed a joint venture with Johnson Control and developed India’s first zero maintenance automobile...
Words: 2776 - Pages: 12
...As everyone knows, Reel Tape Inc. was a great company in the 1960s. When cassettes came in, Reel Tape Inc. just switched its product line but not its attitudes. However, its competitors had changed the way to do business. These competitors set up strategy and management accounting system to improve their quality, cost and time. They had high quality, delivered products on time, and had low price. These competitors took market share from Reel Tape Inc. One of the reasons that led to Reel Tape Inc. lost its market share was the lack of a good management-accounting system. (Jan Bell, Shahid Ansari, Thomsa Klammer, and Carol Lawrence, 1997) What is management accounting Management accounting is a system of measuring and providing operational and financial information that guides managerial action, motivates behaviors, and supports and creates the cultural values necessary to achieve an organization’s strategic objectives. (Jan Bell, Shahid Ansari, Thomsa Klammer, and Carol Lawrence, 1997) A good management-accounting system can help firms to produce low cost products, maintain quality and deliver on time. A good management accounting information is technical, behavioral and cultural. First, technology can provide relevant information for strategic decisions. Management accountants should obtain information what they want through companies’ information system. This information should be timely and accurate. It helps management accountants analyze companies’ financial situation and...
Words: 2784 - Pages: 12
...Socio-Geographic Factors MMPBL-560 Managing in a Cross Cultural Environment Socio Geographic Factors for Southwest Airlines Businesses are determine to be successful in the future because they know they will be challenged to embrace the changes in a diverse group, which will allow them to be competitive in the global sector. Organizations that will develop a cultural sensitivity will be crucial in order to succeed and within recruiting and retaining the qualified workforce. Defining cultural sensitivity is described as acceptance. Organizations will need to accept the values and beliefs of an individual. In addition, understanding that each employee is different and working together to learn and appreciate the similarities within them. Cultural sensitivity at times can be a challenge for larger organizations to develop. There are different aspects that can affect a business strategic plan to successfully identify and exploit diversity in the direction of sustaining development which consist of employees in the working class, regional variations that are currently present, and how the family impacts today’s workforce and the society. The following aspects have a crucial effect within recruiting and retaining a diverse labor force which determines the outcome of being successful or unsuccessful. Southwest Airlines is a national organization and has demonstrated how the following factors have impacted the organization. Identify and Define Class Class is...
Words: 1993 - Pages: 8
...MKC1 Fundamentals of Marketing and Business Communication How does cultural diversity affect marketing? | By requiring tailored marketing strategies | What element should marketing managers consider when scanning the competitive environment? | Supply chain management | A group of producers of a particular product decided to all raise prices together and they were accused of overcharging consumers.Which federal law would have allowed the United States government to investigate this unfair method of competition? | Sherman Antitrust Act | Which strategy will be best for the marketer to advocate while faced with a deflationary economic environment? | Seek a long-term contract guaranteeing the sale price of its product. | A marketer believes its product has become obsolete for all markets. The marketer feels that a new technology may have created a substitute product and created new desires for their former consumers. What is their best marketing alternative? | Investigate the new technology for opportunities opening in a new industry | Marketers in a foreign country have been extremely successful in selling a particular product to a specific target market. They decided to enter the US market and continue their current sales and promotional tactics. What will likely be the outcome? | Targeting the same market in the U.S., they will find that the product does not fit existing cultural values and will not be purchased. | How will the group membership influence the individual's...
Words: 1435 - Pages: 6
...History……………………. 5 Ownership and the size of organisation……………………………………. 6 Employment Resource Centre Hierarchical Relationship Chart…………... 7 Services provided by the Employment Resource Centre…………………... 8 PEST Analysis……………………………………………………………... 11 Communication…………………………………………………………….. 13 Conclusion…………………………………………………………………. 14 Bibliography……………………………………………………………….. 15 Terms of Reference As a part of the FETAC course we are required to do a research on the organisation we had Work Experience in are familiar with. The purpose of this project is: ✓ To investigate and analyze the organisation and the industry that organisation belongs to ✓ To outline the environmental factors that might affect the organisation ✓ To describe the structure of the organisation ✓ To describe the ownership and the size of organisation ✓ To describe the internal and external communication within this organisation It has to be submitted to Business Administration Tutor - Eimear Hynes on 23rd March 2010. Introduction The Congress Centres Network, formerly the ICTU Network of Unemployed Centres, came into being during an era of mass unemployment in 1980’s. The Centres were established to provide support, resources and a range of services to the growing numbers of unemployed workers, many of whom were trade union members. Centres also served as campaigning organisations on issues around...
Words: 3030 - Pages: 13
...HIV/AIDS is a devastating disease that has killed thousands of people all over the world. It is one of the most widespread and devastating epidemics we are currently dealing with. Many factors about this virus contribute to making it spread faster, become deadlier, and leaves no one unaffected. HIV/AIDS reaches the young and the old, the rich and the poor, and those in developed and undeveloped countries. Education about the virus and how it is approached to different people also affects how it is spread, several cultural factors come into play as to how effective it is in preventing future contraction of the virus. The cultural perceptions of the virus also affect how the virus is researched and how medicines are developed for it. Religion also plays a role in how the virus is spread and can have an impact on how those who are researching the disease research it. The spread of HIV/AIDS is affected by several factors the main ones being the approach of education taken, cultural perceptions of the disease, and religion. Acquired Immunodeficiency Syndrome (AIDS) was first recognized as a disease in 1981 (Kshatriya, 2005, pg. 69). Before 1981 it was found in the Caribbean and in African countries but it wasn’t until those first cases in the United States were diagnosed that the disease was officially recognized. HIV/AIDS exploded in America in the early 80’s, and initially they thought that AIDS was a “gay disease” and called it GRID standing for “gay related immune disease” (Lovell...
Words: 5319 - Pages: 22
