...Table of contents 1.0 Introduction………………………………………………………………………..1 2.0 Main body 1 2.1 The definition of Marketing 1 2.2 The introduction of consumer behavior 2 2.3 Culture 4 2.3.1 Aspects of culture 5 2.3.2 Myths and Rituals 6 2.3.3Sacred and Profane Consumption 9 2.3.4 Religion subcultures 11 3.0 Conclusion 12 4.0 References 13 1.0 Introduction With over 6.3 billion people, the world is a marketing oyster. The trouble or the task that most marketers face is identifying how to sell their product to those people. There are many ways to sell a product, but identifying the buying behavior of the target market and catering to those behaviors is integral in today's complex society (East, R., Wright. M, & Vanhuele, M, 2008). Culture is the patterns of behavior and thinking that people living in social groups learn, create, and share. The purpose of this report is to mainly introduce several important aspects of culture and then make some general comments on how culture has an impact on decision making of consumers. 2.0 Main body 2.1 The definition of Marketing Marketing consists of activities which lead to a situation where both the organization and the customer get what they want. It involves the creation, distribution, promotion and pricing of the organizations output. In other words it involves almost everything done within business. Marketing might sometimes be interpreted as the art of selling products, but selling is only a small fraction...
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...Introduction and Background: Under Armour has emerged over the last decade as a major player in the athletic apparel industry. They have defined themselves as a “luxury” type good within that market space, demanding a slightly higher than average price point. The market for sports apparel is very fragmented, with more than 25 major competitors. Among these are giants Nike, Adidas, and Reebok. The graph below depicts the market share trend in this space since 2003. Clearly, Under Armour is on the upslope and is trending in the right direction. Under Armour has built their brand around quality and image. Their products are depicted to be rugged, durable, and to survive the wear and tear of “battle”, both on the playing field and during training. Most of the advertising and brand messaging features athletes preparing and practicing for a sport, instilling the feeling among consumers that if I wear this and prepare like that, then I can be an athlete and a “warrior” in my own way. I believe that Under Armour is emerging as an iconic brand. Interestingly enough, their largest competitor, Nike, has heralded the slogan “Just Do It” over its long history. Under Armour has since moved from its original calling “Protect This House”, to a direct answer to Nike’s dare, “I Will”. One aspect of creating a great brand is to have a great story. The Under Armour story is relatable to the public and portrays somewhat of an underdog mentality. Under Armour was founded by Kevin Plank in 1996...
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...definition of myth: “a popular belief or tradition that has grown up around something or someone; especially: one embodying the ideals and institutions of a society or segment of society.” Poignantly, this definition does not include the common correlation between myth and falsification. While myth may include ostensible histories or exaggerated events, falsification is not crucial nor significant in the creation of myth. Whether or not a culture’s myth relies on scientific or historical fact is irrelevant to the core of its application. A culture’s myth or belief is vital in the realm of their world view, stresses, and precedencies, not its...
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...UNOFFICIAL GUIDE TO BANKING What career options are available? Are the myths about the hours or salary really true? And how do you get a foot in the door? This straightforward, no-nonsense guide has info on most divisions and roles plus tips on getting hired. What’s more, it’s all been written with the help of recent graduates working at Deutsche Bank who were in your shoes not that long ago. Your career in banking starts here. OVERVIEW OF BANKING Banks are large, complex organizations, but what do they do exactly? 01 There are four broad categories of banking: Put simply, they provide services for those who want to borrow, lend and invest. Their clients range from individuals and institutions, all the way up to the governments and central banks of entire countries. Retail Banking – dealing directly with small businesses and individuals Banks must be ready to act on changes in the market triggered by anything from movements in the political climate, the financial climate or even the weather. So it’s vital that you’re able to adapt to change, whatever your role or the area you work in. Commercial or Corporate Banking – offering banking facilities to medium-to-large businesses Private Banking – a one-to-one service for rich individuals Investment Banking – generally related to helping clients raise capital, often by investing in the financial markets. Banking offers a vast range of career options. We’ve grouped them into 12...
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...carried out when the entrepreneur found some undiscovered market, unsolved problems, new technology or new form for firms and they set up new business to serve the particular market or solve it. Entrepreneurship involves in business activities which gain social and financial benefits or profits by bearing uncertainty and risk. 1b. There are ten myths of entrepreneurship consists of entrepreneurs are doers, not thinkers, entrepreneurs are born, not made, entrepreneurs are always inventors, entrepreneurs are academic and social misfits, entrepreneurs must fit the profile, all entrepreneurs need is money, all entrepreneurs need is luck, entrepreneurship is unstructured and chaotic, most entrepreneurial initiatives fail and entrepreneurs are extreme risk takers….the gamblers. Myth 1: Entrepreneurs are doers, not thinkers Although people see entrepreneurs as someone who dare to do something without considering the risk, but actually entrepreneurs do think before they take action or make decision. Entrepreneurs usually spend time to think of the new invention, new market from the daily problems or experience. Once they discovered there is opportunity to start the business to serve the need, they actually produce clear and complete business plan before they involve in the business. They have carefully considered of the risk and consequences of starting the business and turn their thought into action. Myth 2: Entrepreneurs are born, not made There is idea said...
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...aura of excellence-and a set of obligations.To maximize the value of global reach, companies must manage b oth. 68 HARVARD BUSINESS REVIEW by Douglas B. Holt, John A. Quelch, and Earl LTaylor I More than two decades ago, Harvard Business School professor Theodore Levitt provocatively declared in a 1983 HBR article, "The Globalization of Markets" that a global market for uniform products and services had emerged. He argued that corporations should exploit the "economics of simplicity" and grow by selling standardized products all over the world. Although Levitt did not explicitly discuss branding, managers interpreted his ideas to mean that transnational companies should standardize products, packaging, and communication to achieve a leastcommon denominator positioning that would be effective across cultures. From that commonsense standpoint, global branding was only about saving costs and ensuring consistent customer communication. The idea proved popular in the 1980s, when several countries opened up to foreign competition and American and Japanese corporations tried to penetrate those markets with global brands and marketing programs. T'S TIME TO RETHINK GLOBAL BRANDING. While the world economy continued to integrate, experiments with global branding soon slowed. Consumers SEPTEMBER 2004 in most countries had trouble relating to the generic products and communications that resulted from companies' least-common-denominator thinking. Executives...
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...December 15, 2012 Alan West Foundations of Mythology Question One Myth is a word used magnanimously with a story. Myth is just that A story with no hard facts but its purpose is to explain the unexplained. Mythology has been around since humans could speak. People had claimed something is a myth; they are referring to something untrue and a fable. Examples of some popular myths are; that sailors were enticed by beautiful mermaids; beware of great creatures of the seas if they angered the gods. Mythology goes hand-in-hand with the word “mystery”. “Myths are ancient narratives that attempt to answer the enduring and fundamental human questions: How did the universe and the world come to be? How did we come to be here? Who are we?” (Leonard, & McClure, 2004, p. 1). In academia, myth is not defined but used as distinctive history of types of people and groups, with written context reminiscent of past events for the those logic cannot explain. Question Two There are different myths with many groups and cultures. Below are some examples that will describe various culture aspects. Myths help man to make order out of chaos or explain things that he cannot understand. Often, myths are based on ideas that affect human beings, regardless of geography or race. Themes like life and death, fear and anxiety, good and evil, and the perennial question of "Why am I here? " ("The impact of," 2013, p. 1). Myths have been around since the first cultures. Indian cultures believe that...
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...itan aura of excellence-and a set of obligations.To maximize the value of global reach, companies must manage both. 68 HARVARD BUSINESS REVIEW by Douglas B. Holt, John A. Quelch, and Earl LTaylor I More than two decades ago, Harvard Business School professor Theodore Levitt provocatively declared in a 1983 HBR article, "The Globalization of Markets" that a global market for uniform products and services had emerged. He argued that corporations should exploit the "economics of simplicity" and grow by selling standardized products all over the world. Although Levitt did not explicitly discuss branding, managers interpreted his ideas to mean that transnational companies should standardize products, packaging, and communication to achieve a leastcommon denominator positioning tbat would be effective across cultures. From that commonsense standpoint, global branding was only about saving costs and ensuring consistent customer communication. The idea proved popular in the 1980s, wben several countries opened up to foreign competition and American and Japanese corporations tried to penetrate those markets with global brands and marketing programs. T'S TIME TO RETHINK GLOBAL BRANDING. While tbe world economy continued to integrate, experiments with global branding soon slowed. Consumers SEPTEMBER 2004 in most countries bad trouble relating to the generic products and communications tbat resulted from companies' least-common-denominator thinking. Executives...
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...an aura of excellence-and a set of obligations.To maximize the value of global reach, companies must manage both. 68 HARVARD BUSINESS REVIEW by Douglas B. Holt, John A. Quelch, and Earl LTaylor I More than two decades ago, Harvard Business School professor Theodore Levitt provocatively declared in a 1983 HBR article, "The Globalization of Markets" that a global market for uniform products and services had emerged. He argued that corporations should exploit the "economics of simplicity" and grow by selling standardized products all over the world. Although Levitt did not explicitly discuss branding, managers interpreted his ideas to mean that transnational companies should standardize products, packaging, and communication to achieve a leastcommon denominator positioning that would be effective across cultures. From that commonsense standpoint, global branding was only about saving costs and ensuring consistent customer communication. The idea proved popular in the 1980s, when several countries opened up to foreign competition and American and Japanese corporations tried to penetrate those markets with global brands and marketing programs. T'S TIME TO RETHINK GLOBAL BRANDING. While the world economy continued to integrate, experiments with global branding soon slowed. Consumers SEPTEMBER 2004 in most countries had trouble relating to the generic products and communications that resulted from companies' least-common-denominator thinking. Executives...
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...SWOT Analysis Strengths The Swiffer brand has much key strength, which helped it create, and dominate the market. One strength, which is potentially underestimated, is its parent company P&G, with vast resources and willingness to spend big dollars to promote products. This along with the distribution, and innovative (line extension) leadership, is a key element to success and a strong point for Swiffer. Swiffer has its own brand specific strengths as well. Being the first to and on the market, though a huge risk, helped Swiffer develop other key strengths. Through heavy promotion in the beginning, Swiffer was quick to capture nearly ¼ of all cleaning dollars in a relative short amount of time. The innovator behind new products is often considered to be the standard. With an already captured growing market, Key and timely innovations allowed Swiffer to expand the market even more creating even more brand loyalty and brand recognition through line extensions The Kleenex phenomenon- some times in an industry certain brands become the identity of the product category as a whole to a very large degree with end users. For Example: It is common to refer to a facial tissue as a Kleenex rather than a tissue. It is also common to here people ask for a Coke rather than the specific carbonated beverage that the venue carries. For some time early in the in the refrigerator product life cycle, it was common to call it a Frigidaire as opposed to the brand it actually was or just...
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...An operating system is the framework that allows you to communicate with computer hardware in an interactive way (Answers Corporation, 2013). Without this, you would not be able to tell the computer to do anything and it would not have any instructions to follow (Answers Corporation, 2013). This is why it is important for a computer to have an operating system (Answers Corporation, 2013). There are three main operating systems Windows, Mac, and Linux. When it comes to popularity and market share the most popular operating systems are Windows and Mac. Linux is an operating system that is popular with desktop users (HubPages, 2013), According to HubPages, “Windows is the Operating System with the largest market share. However, this doesn’t make it the best when it comes to quality and consistency as it is constantly marred with problems of viruses and malware (HubPages, 2013).” It usually had an affordable price tag at first, but the consumer is charges extra items like soft wear and anti-virus expenses that add up (HubPages, 2013). Linux is usually thought as a less effective than Mac and Windows, however it does offer many software programs that are similar to the Windows and Mac programs for free (HubPages, 2013). All three computer operating systems have Intel processors that make them unique. According to Pearson Certification Team, “Macintosh computers have Intel processors, they are not PCs. Likewise, the Mac OS is not compatible with PC hardware, and PC- based operating...
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...Background U.S. administration is giving emphasis on the need to decrease the US dependency for foreign oil. CEO and president of XYZ have noted the forecast of higher gasoline prices as well as the worldwide recognition of the need to transition to forms of energy other than gasoline. In order to reduce the consumption & import of gasoline in U.S.A, They want to introduce technological changes in vehicles that bring revenue, reduce cost, and increases market share of the firm. Objective I propose to review the following objectives in order to invest on hybrid vehicles component/services. * Explain the importance of Hybrid Vehicle Components/Services to reduce U.S. dependency on foreign oil. * Illustrate the importance of Hybrid vehicles in order to get rid of high prices/cost of gasoline. * Demonstrate the benefits that hybrid vehicles bring to the firm i.e. high revenue, increased market share and greater profits. Scope Hybrid vehicles have a wide scope in upcoming future due to following reasons: * Increase companies revenues and profits because of reduction of gasoline usage. * Hybrids can operate on alternative fuels that have flex fuel possibilities. * Dependency on fossils fuels will be decreased. * Fuel efficiency is greatly increased (twice). * Emissions are greatly decreased. * Regenerative braking actually makes city driving more economical than on the highway. As Gasoline becomes more and more expensive, the hybrids...
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...practices for GMO avoidance” (GMO Facts). The Non-GMO Project argues there is a growing body of evidence connecting GMOs to health problems, environmental damage, and violation of farmers’ and consumers’ rights. In the evidence-based examination of the claims made for the safety and efficacy of genetically modified crops and foods by John Fagan PhD, Michael Antoniou PhD, and Claire Robinson M Phil, GMO myths and truths were explained. “Myth: GM foods are strictly tested and regulated for safety, truth: GM foods are safety tested by the developer companies and regulation varies from non-existent to weak. Myth: GM foods are rigorously assessed for their ability to cause allergic reactions, truth: no thorough allergenicity assessment is conducted on GM foods. Myth: GM animal feed poses no risks to animal or human health, truth: GM feed affects the health of animals and may affect the humans who eat their products. Myth: GM is needed to provide the crops that will enable us to survive the challenges ahead, truth: Non-GM breeding methods are more effective at creating crops with useful traits. Myth: Roundup is a benign herbicide that makes life easier for farmers, truth: Roundup causes soil and plant problems that negatively impact yield” (Fagan, John, Michael, Antoniou, and Claire Robinson). One underlying value held by the Non-GMO Project is believing that everyone deserves an informed choice about whether or not to consume genetically modified organisms. Another, is their belief that it...
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...|SUCCESS” | | | |[pic] | To understand innovation, you first have to see the differences between an invention and an innovation. An invention is a new idea that is often turned into a tangible outcome, such as a product or a system. An innovation is the conversion of a new idea into revenues and profits. An idea that looks great in the lab and fails in the market is not an innovation; it is, at best, a curiosity. As Jeff Immelt once put it, “Innovation without a customer is nonsense; it’s not even innovation.” Invention is needed for innovation to take place. But invention is not innovation. In many companies, inventions that result in patents are considered innovations. These companies are often touted as “innovative.” In fact there is no correlation between the number of corporate patents earned and financial success. Until people are willing to buy your product, pay for it, and then buy it again, there is no innovation. A gee-whiz product that does not deliver value to the customer and provide financial benefit to the company is not an innovation. Innovation is not complete until it shows up...
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...[pic] Published on GreenBiz.com (http://www.greenbiz.com) [pic] Why CSR is Essential in the Real World of Business By Thomas Lyon Created 2010-09-20 03:30 In a recent op-ed piece in The Wall Street Journal, my colleague Professor Aneel Karnani explained why he thinks corporate social responsibility (CSR) is at best irrelevant and probably socially damaging. The heart of his argument lies in the assumption of a neat separation between markets and politics. In this idealized world, politics can be counted on to deliver the regulations needed to rein in corporate greed and malfeasance. Then corporations can safely be left in the hands of managers whose sole interest is maximizing profits. I have a lot of sympathy for this perspective. If politics really worked as advertised, it would make perfect sense to leave social issues to the deliberation of our elected officials. The problem with this perspective is that government failure is just as common as market failure. Certainly markets can fail because there are too few firms, consumers have inadequate information, or because pollution affects innocent bystanders who do not even buy the product that is polluting their air or water. But government can fail, too, sometimes because it is just too big and bloated to deliver what it promises. Often, government fails because of the vigorous lobbying efforts of special interest groups. Sometimes these groups extract special favors that protect them from foreign competition...
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