...World Trade Organisation History At the United Nations conference held at Geneva in 1947, twenty three countries including United States of America signed General Agreement on Tariffs and Trade (GATT). During the same year, a charter was put on the table for setting up, within the United Nations Organisation, of a new agency to be called International Trade Organisation (ITO). Fifty nations signed the charter in Havana the following year, but it was never subsequently ratified by the required number of countries. The purpose of the agreement was to promote international trade free of barriers in the aftermath of World War II, and to draw up proposals for the implementation of policies based on those principles set in the agreement. It covered all the issues like tariffs, quotas, taxes, international commodity agreements and whatever was considered to have a bearing on the development of international trade, and was based on policies of non-discrimination and tariff reductions. GATT has been expanded and updated through a series of multi-year conferences. The most famous have been the Kennedy Round (1963-1967), the Tokyo Round (1973-1979), and the Uruguay Round (1986-1994). The Uruguay Round ended with the decision to dissolve GATT and establish the more powerful and more institutionalised World Trade Organization (WTO) in 1995. The WTO replaced GATT as an international organization, but the General Agreement still exists as the WTO’s umbrella treaty for trade in goods. Trade...
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...Perspective Olaf Acker Florian Gröne Rami Yazbek Fares Akkad Social CRM How Companies Can Link into the Social Web of Consumers Contact Information Beirut Ramez Shehadi Partner +961-1-336433 ramez.shehadi@booz.com Raymond Khoury Principal +961-1-336433 raymond.khoury@booz.com Berlin Dr. Florian Gröne Senior Associate +49-30-88705-844 florian.groene@booz.com Canberra David Batrouney Principal +61-2-6279-1235 david.batrouney@booz.com Chicago Eduardo Alvarez Partner +1-312-578-4774 eduardo.alvarez@booz.com Mike Cooke Partner +1-312-578-4639 mike.cooke@booz.com Delhi Suvojoy Sengupta Partner +44-20-7393-3314 suvojoy.sengupta@booz.com Dubai Fares Akkad Senior Associate +971-4-390-0260 fares.akkad@booz.com Rami Yazbek Associate +971-4-390-0260 rami.yazbek@booz.com Frankfurt Stefan Stroh Partner +49-69-97167-423 stefan.stroh@booz.com Olaf Acker Partner +49-69-97167-453 olaf.acker@booz.com London Hugo Trépant Partner +44-20-7393-3230 hugo.trepant@booz.com Rami Mourtada Principal +44-20-7393-3444 rami.mourtada@booz.com Saibal Chakraborty Senior Associate +44-20-7393-3540 saibal.chakraborty@booz.com Milan Enrico Strada Partner +39-02-72-50-93-00 enrico.strada@booz.com New York Jeffrey Tucker Partner +1-212-551-6653 jeffrey.tucker@booz.com São Paulo Jorge Lionel Principal +55-11-5501-6200 jorge.lionel@booz.com Shanghai Andrew Cainey Partner +86-21-2327-9800 andrew.cainey@booz.com Sydney Peter Burns Partner +61-2-9321-1974 peter.burns@booz.com Ramez Shehadi and Florian Poetscher...
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...The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself (Ducker). Though a simple statement, as the world economy grow and consumers change this gets increasingly difficult. Globalization has caused marketers to research different countries, creeds, and cultures to make unique marketing strategies. Globalization isn’t the future of our economy, it’s the now. Advances in technology have made the world a much smaller place. With access to new markets many companies are venturing into uncharted territory in search for profit. Though its sounds great there are many precautions to take before a company finds a new market. There are barriers to entry: most common among many are tariffs, quotas, and sociocultural variances. Tariffs are taxes put on imports from other countries. The effect of a tariff is to raise the price of the imported product; it makes imported goods more expensive so that people are more likely to purchase domestic products. Quotas are limits on the amount of goods that can be imported. Putting a quota on a good creates a shortage, which causes the price of the good to rise and make the imported goods less attractive for buyers. This encourages people to buy domestic products, rather than foreign goods. Sociocultural differences in religious beliefs or practices, basic cultural assumptions and/or patterned behavior, language, idiom, body language and assumptions about social strata are all among potential...
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...between Service Brand and Product Brand Contents Introduction 1. What is brand 1.1. Elements of Brand 1.2. Benefits of branding 1.3. Significance Of Adopting Proper Branding Strategy 2. Service brand: 2.1. Features Of Service Brand 2.2. Role Of Employers In Success Of Service Brand 2.3. Role Of Consumer In Success Of Service Brand 2.4. Challenges Service Branding Is Facing 3. Product Brand: 3.1. Features Of Product Branding 3.2. Role Of Manufacturers In Success Of Product Brand 3.3. Role Of Consumers In Success Of Product Brand 3.4. Challenges Product Branding Is Facing 4.1. Brand Positioning 4.2. Brand Equity 4.3. Brand Identity And Personality 4.4. Brand Image 4.5. Brand Audit 5. Recommendation References Introduction: The current era is considered the age of competition and the branding is one of the most convenient ways to establish a positive image in the mind of the consumers. However, it is rather difficult task to formulate an image without pondering upon each element that is indulged in the promulgation of some brand. Nevertheless, the brand can be promulgated if proper strategy is applied after selecting the best brand type. This paper throws light upon the significance of brand and two types of brands. The first section is the clear cut mouthpiece of what the brand actually is and what the benefits of using this term. Furthermore, this section also throws light upon two types of brand, ie service brand and product brand....
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...Marketing Processes and Consumer Behavior Chapter Overview Many students think that marketing is merely sales or advertising. Actually, sales and advertising are just a small part of the overall marketing process. Think of a product that you buy often. You might not realize that everything about that product—from the time it is created, produced, packaged, and shipped to you—involves various facets of marketing. This chapter explains the concept of marketing and discusses the five forces that constitute the external marketing environment. It also explains the purpose of a marketing plan, identifies the four components of the marketing mix, and discusses the necessity of identifying market segments. As the chapter unfolds, many variables surrounding both the consumer and organizational markets are discussed, as well as a focus on distinguishing features between products and services and the importance of branding and packaging. The chapter also discusses the consumer buying process, organizational markets, and key considerations in the new product development process. Finally, it looks at the challenges that arise in adopting an international marketing mix and the ways in which small businesses can benefit from an understanding of the marketing mix. Learning Objectives A. Explain the concept of marketing and identify the five forces that constitute the external marketing environment. B. Explain market segmentation and how it is used in target marketing. ...
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...Question – Consumer Behavior is the bedrock of marketing. Discuss Consumer behavior is defined as all the behavior that consumers display in searching for, purchasing, using, evaluating and disposing of products and services they expect will satisfy their needs and wants. It can also be defined as the study of why, how, what, when, where and how often do consumer buy offered products and services. It includes all purchase-related activities, thoughts and influences that occur before, during and after the purchase is performed by buyer and of consumers of products and services and those that influence the purchase. If goods and services produced are not consumed, then there would not be a need for further production. But the reverse is the case, some of these goods and services are inadequate for the level of consumption they attract. Therefore, it is very pertinent to really understand who a consumer really is. A consumer therefore is an individual or groups who buy products or service whether for personal or organizational consumption. Sometimes, it is not actual buyer of product/services that consumed it. This means that different and various kinds of people play one role or the other in a buying process. These individuals and groups are briefly explained below: 1. Initiator: The person who begins the process of considering a purchase. Information may be gathered by this person to help the decision. 2. Influencer: The person who attempts to persuade others...
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...Chapter 7: Products, Services and Branding Strategy What is a product? Anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need. - Includes: physical objects, services, events, persons, places, organizations, ideas, or some combination thereof. What is a service? Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything can referred as a Service. Eg: banking industry, tourism industry, Information Technology services etc. Levels of a Product ▪ Core benefit – What the consumer is really buying. ▪ Actual product – Includes the brand name, features, design, packaging, quality level. ▪ Augmented product – Additional services and benefits such as delivery and credit, instructions, installation, warranty, service. Core benefit:- Each level adds more customer value. The most basic level is the CORE BENEFIT which answers the question “What is the buyer really buying?” When designing the products, marketers must first define the core, problem solving benefits or services that consumers seek. People buying a SONY Handycam are buying more than a digital camcorder. They are buying a convenient, high quality way to capture important moments and memories. Actual product:- At this second level, product planners must turn the core benefit into actual product. They need to...
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...[pic] MIDLANDS STATE UNIVERSITY DEPARTMENT OF MARKETING MANAGEMENT MODULE: MARKETING OF FINANCIAL SERVICES (MMRK812) [pic] LECTURE NOTES CHAPTER 1: AN OVERVIEW OF THE FINANCIAL SERVICES SECTOR IN ZIMBABWE 1. Introduction Zimbabwe’s financial sector is relatively sophisticated and consists of the Reserve Bank of Zimbabwe (RBZ) at the apex of banking institutions, commercial banks (e.g. CBZ, NMB, FBC, ZB, MBCA, Kingdom, Trust, Stanbic, Barclays, Chanchart), merchant banks, building societies (e.g. CABS, CBZ building society, FBC building Society etc), the People’s Own Savings Bank (POSB), insurance companies (e.g ZIMNAT, NICOZ DIAMOND, Old Mutual, First Mutual, Nyaradzo), pension funds (e.g Allied workers pension fund, NRZ pension fund), asset management companies (Imara and Edwards), developmental financial institutions, the Zimbabwe Stock Exchange (ZSE), microfinance institutions (e.g MicroKing) and money transfer agencies (e.g Western Union, Moneygram, Homelink). Discount and finance houses have closed and their functions taken by commercial and merchant banks. The growth of the financial services sector is largely attributed to the financial liberalization of the early 1990s, through the Economic Structural Adjustment Programme (ESAP). 2. Structure of the banking sector Number of operating banking institutions (including POSB) declined to 25 from 26 following the voluntary surrender of a banking license by Genesis Investment...
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...The customer–marketing experience on premium products (brands) 1.0 Introduction / Needs and Wants The content of marketing included the important concept which is the customer needs and wants of a product by research and development. This are consist of measuring the product value, the advantages of a product to a customer, the pricing, quality of product. Furthermore there are also including of the place and the promotion of the product. 1.1 Needs Needs that defined as the natural sight of a human personality that needed something very important and must have condition in daily life but it can be affected by the marketing environment. There are such as the physical needs including foods, clothes, and accommodation; while the social needs including belonging and affection and last which is the individual needs such as knowledge and self-expression. According to Kotler and Keller (2009) needs are the basic human requirements. People need foods, air, water clothing, shelter to survive and people also have strong needs for recreation, education and entertainment. 1.2 Wants Wants that defined as the human needs that shaped by culture, individual personality and the demand to have something, which are products and services. According to Boyd, Walker and Larreche (1998) wants reflect a person’s desires and preferences for specific ways of satisfying a basic needs. For example, a company needs office space and its top executives want an office at a prestigious address in midtown...
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...Action Research in Organization SEM 2011/2012 MRC 1033 ACTION RESEARCH IN ORGANIZATION (LECTURER: DR. MUSLIM AMIN) Name : | Lim See Yeong (Sean) | Matrix Number: | MR 101106 | Title of Assignment: | THE FACTORS THAT INFLUENCING INTERNET CONSUMER BUYING AND USING DECISION PROCESS | Instructor : | DR. Muslim Amin | Submission Date: | 8 Dec 2011 | Contents 1. Introduction 3 Problem Statement 3 Objective 3 Research Questions 4 Background 4 2. Literature Review 5 3. Research Model and Hypotheses 8 4. Methodology. 9 5. Data Analysis 11 Satisfaction Reliability 11 Trust Reliability Test 12 Reputation Reliability Test 15 Usefulness Reliability Test 18 Usability Reliability Test 20 Satisfaction Factors Test 25 Trust Factors Test 26 Reputation Factors Test 28 Usefulness Factors Test 29 Usability Factors Test 30 6. Scope and Limitations 33 References 34 Questionnaire 37 1. Introduction What is Internet? Internet is a worldwide interconnected networks which billions of worldwide users sharing information through Internet. The Internet has made huge impact on culture and commerce. Ten years ago we were in the era of the dot-com boom (and bust), the Web was strictly 1.0, and Google was just a baby. Since 2000, Internet has grown significantly, and nowadays human cannot live without it. It is so so so so important to us. According to http://www.internetworldstats.com, Internet penetration rate is estimated 30.2%...
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...Product and Service Strategies Marketing Mix * Blending of the four strategy elements—product, distribution, promotion, and price—to fit the needs and preferences of a specific target market * Marketers develop strategies to sell both tangible goods and intangible services What is a Product? * People buy want satisfaction, not objects * Product - Bundle of physical, service, and symbolic attributes designed to satisfy a customer’s wants and needs What are Goods and Services? * Services - Intangible tasks that satisfy the needs of consumers and business users * Goods - Tangible products that customers can see, hear, smell, taste, or touch * Goods–services continuum - Spectrum along which goods and services fall according to their attributes, from pure good to pure service Figure 12.1 – Goods-Services Continuum Characteristics of Services * Intangible * Inseparable from the service providers * Perishable * Cannot be standardized * Buyers play important roles in the creation and distribution of services * Wide variations in service standards Figure 12.2 – World’s Most Admired Companies Importance of the Service Sector * The service sector makes up more than three-fourths of the U.S. economy * Backshoring - Firms return much of their offshore work to the U.S. to save money and improve customer service efficiency * Homeshoring - Hiring workers to do jobs from their homes * Most service firms emphasize...
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...THE EFFECT OF PRICE PERCEPTION, PRODUCT QUALITY, PRODUCT DIFFERENTIATION, SERVICE QUALITY AND PROMOTION TOWARD CONSUMER PURCHASE DECISION Study on consumer of Larissa Aesthetic Center, Malang CHAPTER II LITERATURE REVIEW 2.1 THEORITICAL FRAMEWORK 2.1.1 Purchase Decision Purchase decision is one part of the consumer behavior refers to the buying behavior of final consumers who buy goods and services for personal consumption. Every day consumers determine the various purchase options. Most of the large companies investigate consumer purchase decisions are so detailed to discover what consumers buy, where they buy , how and how much they buy , when they buy and why they buy. Marketing people can learn to do the actual purchase of consumers, but to investigate the causes of their buying behavior is not easy. The answer is often stored deep in the heads of consumers ( Kotler and Armstrong , 2001:195 ). Studying consumer behavior will provide guidance for the development of new products, product features, pricing, channel marketing, advertising messages and other marketing mix elements . The starting point for understanding the buyer behavior is stimulus response. Marketing and environmental stimuli began to enter the consciousness of buyers. Characteristics of buyers and decision process poses a particular purchase decision. The task of the marketer is to understand what happens in buyers awareness ranging from the stimulation from the outside to the emergence of a buyer...
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...changes and demands of consumers. These four elements consist of product, price, place and promotion. The product is the merchandise or service that is offered to consumers. The aspect of a product includes functionality, appearance, quality (value), service, support and warranty. Pricing involves the list price as well as discounts, financing, leasing and other options. Placement (place) in marketing consists of distribution channels, locations, logistics, and service levels including support. Promotion involves how consumers or a particular target market is informed and/or educated about a product or service. This would include advertising, public relations, sales, and media. According to Goi, the concept of the four P’s has been criticized in numerous studies. However, in spite of its insufficiencies, these four elements remain fundamental to the marketing mix (2009, p. 3). The Marketing Mix Marketing has been around for many years. It includes planning and implementing the proper marketing plan for an organization. For many, marketing only involves selling and advertising. However marketing involves much more. Marketing consists of every measure sellers use to place their product in the hands of potential consumers. The marketing mix consists of four elements known as the four P’s: product, price, place and promotion. The key to any successful business is to give consumers what they want. Therefore, understanding the needs and wants of consumers is essential to capturing...
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...COMPONENTS DIFFER FOR A PRODUCT VERSUS A SERVICE ABSTRACT Despite a common finding that brand image is a subjective concept, invariably changing from one individual to another; recent thinking regarding this topic has emphasised the varying components by which consumers perceive a brand, especially between products and services. This article disseminates and scrutinises the various literature that contribute to these components of brand image and applies it to a real world case study. The aspects of intangibility of services, variability of quality, instantaneous consumption of services , inseparability of service and service provider as well as the service environment were explored with relation to “Australia” the movie (product) and Australia as a tourist destination (service). Through exploring this case study it was clear that brand image for “Australia” the movie was significantly based on benefits it could offer its consumers including quality aspects and trust through use of Hollywood’s biggest stars, as well as the strength of the films brand image through strong emotive and unique cultural cues. In contrast, the brand image of Australia as tourist destination has several additional elements and boundaries that it must overcome. Interestingly, it was found that Australia the movie was the perfect tool to use for Australian Tourisms greatest hurdle - overcoming the intangible aspect of the business. Suddenly, Tourism Australia as a service could leverage the parallels...
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...Abstract Marketing is the source that results in the generation of the revenue for a firm. Bangladesh since its independence has gone through a substantial amount of changes in its industry composition and so has the marketing system of our country. This paper focuses on the flaws the marketing system has in our country. Both in the goods markets and services markets, marketers are still maintaining traditional approaches. It is high time that these approaches are modified. These faults could be overcome by adopting some modern strategies in the marketing plan. Some recommendations are given at the end of the paper that can help the marketers to eliminate the defects. The report has been mainly constructed with the help of secondary data by relying on internet based secondary data so the sources of books, articles, websites were used to draw notable references for constructing the report. 1.1 Background The marketing scenario of a country is very much essential for the industry because marketing is the source that results in the generation of the revenue for a firm. Bangladesh since its independence has gone through a substantial amount of changes in its industry composition and for that change in the industry composition has also taken place. When changes come over, it comes up with substantial challenges and opportunities. What the marketer has to study is how to face the challenges in a better manner to place itself in the market to ensure their survival...
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