...Chap -1 Production management DEFINITION As any premises in which person are employed for the purpose of making altering , repairing ornamenting , finishing , clearing , washing , breaking , adopting for sale any article PRODUCTION AS THE CONVERSION PROCESS Production process of changing input into output . INPUT Lab our Material Equipment Capital Management OUTPUT Goods and services Conversion Process COMPARISION Actual V/s Planned The input to the production system are raw material , parts , energy , production schedules , information technology , capital or management and output are the goods , transported goods ,delivered message , services customers. For example :- 1) In manufacturing organization like steel plant , input are materials like iron , ore , coke , lime stone ,etc 2) In service organization like bank , inputs are customer and output are serviced customer COMPONENTS OF PRODUCTION FUNCTION PLANNING | * Product selection and design * Process selection and planning * Facility location * Facility layout and materials handling * Capital planning * Forecasting * Production planning | ORGANISING | * Work study and job design | CONTROLLONG | * Production control * Inventory control * Quality control * Maintenance and replacement * Cost of reduction and cost control | 1. Production selection and design -A right kinds of products and good design of the product are crucial for the...
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...|Producing a Promotional Strategy | |What is a promotional strategy? | |Most of us are familiar with market research as suppliers (or information providers) try to obtain information from us (or library users) | |on what we require. Promotion is the reverse side of this. Organisations use promotion to communicate with customers about products they | |offer. Promotion is thus one half of the communication process with customers. Ideally it will work co-operatively with market research (in| |an iterative feedback loop) so that the constantly changing requirements of users are met by promotional activities that target (or even | |anticipate) these expressed needs. | | | |Such activities need to be managed. They require the allocation and expenditure of resources, whether physical (promotional products) or | |intangible (staff time or use of existing facilities). As such they cannot simply be allowed to grow organically – they require shaping and| |direction via a promotional strategy. ...
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...Assignment 3: Promotional and Advertising Strategies BUS508 29 August 2014 Augusta Campus, Strayer University Promotional and Advertising Strategies Compare and contrast the promotional strategies used by two (2) different companies for a similar product within the category that you selected. The two promotional strategies that will be compared are from IKEA and Pottery Barn. IKEA is a Swedish company that sells a wide range of ready-to-assemble furniture, appliances, and home accessories. IKEA’s home furnishings are of good design and functionality offered at a price low enough to be affordable to most people (IKEA, 2014). Pottery Barn is a specialty upscale American-based home furnishing store that was acquired by Williams-Sonoma in 1986. Pottery Barn was built on the idea that home design should be exceptional in comfort, quality, style, and value (Pottery Barn, 2014). IKEA’s promotional strategy includes a mix of television advertising, sponsorship, newspaper and magazine advertising. The concept of “democratic design” is portrayed in all of these methods, especially in the iconic IKEA catalog. This design features three elements: form, functionality, and low price (IKEA, 2014). With respect to low price, IKEA customers play an important role by driving to the store, selecting the flat-packed product from warehouse, transporting the product home, and finishing by assembling the product themselves. Having the customer complete this labor is all what helps contribute...
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...Contemporary Business Promotional and Advertising Strategies Dr. Polack Dominique Townsend 12-8-2014 Abstract Success is the level that is reached from hard work and dedication. In order for a company to reach this level it takes a motivated person or persons with a vision and drive. That would lead the company in a positive direction towards its mission and goals. There have been two television brands that came to this realization. They are LG and Panasonic. The beginning of LG began in 1958 as Goldstar. The company has since evolved into a big name in the electronic industry. One of their first major televisions was the 60 inch plasma in 1998. Their goal is to add to consumers lives by improving it every day. As a part of the companies mission statement; the increase they improve lives by way of fun and functionality of their products. When having fun consumers enjoy the products. Enjoying products would certainly make life good. As for Panasonic their journey began by a Japanese man by the name of Konosuke Matsushita. Little did he know that he would change impact and change the lives of many people in the 21st century. The year 1918, launched its very first product. This particular product was the attachment plug. It was not until 1960 that the company came out with their first color television. Both companies have evolved into two major powerhouse names that we know and love today. Each has its own promotional and advertising strategies. It is through...
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...Table of Contents 1.0 Executive Summary 2 2.0 Situation Analysis 3 2.1 Company Background/Business Description 4 2.2 Mission and Vision Statements 5 2.3 Customer Profile 6 2.4 Products/Services Description 7 2.5 Location, Operation, Legal Ownership 8 2.6 Broad Business and Marketing Goals 9 3.0 Market Summary 10 3.1 National Market Share 11 3.2 Market Demographics/Target Market Profile 12 3.3 Market Needs and Trends 13 3.4 Target Market Sales Projections/Forecasts 14 4.0 Operating Environment (SWOT) 15 4.1 Key Industry Driving Forces/Key Opportunities 16 4.11 Technological, Economic, Social/Cultural, Political, Legal, Regulatory Factors 17 4.2 Industry and Competitive Dynamics 18 4.2.1 Competition Discussion 19 1.0 Executive Summary 2.0 Situation Analysis 2.1 Company Background/Business Description Pacific Titan, Inc. is a commercial and industrial painting and coating contractor based in Riverside, California. Ownership of the company is shared equally by the three founding members: Michael D. Hugh (President), Jack Boyd (Vice President), and Patrick Ricciardi (Vice President). The company is the result of the merging of two smaller businesses, and the owners now bring over forty-five years of combined industry experience to the firm. Pacific Titan is not limited by either state or national borders, being willing and able to operate nearly anywhere in the world where its services are needed and price can be...
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...Promotional and Advertising Strategies BUS 508 - Contemporary Business Dr. James J. Kolacek, III March 6, 2014 1. Compare and contrast the promotional strategies used by two (2) different companies for a similar product within the category that you selected. The two promotional strategies that will be compared are from IKEA and Pottery Barn. IKEA is a swedish company that sells a wide range of ready-to-assemble furniture, appliances, and home accessories. IKEA’s home furnishings are of good design and functionality offered at a price low enough to be affordable to most people (IKEA, 2014). Pottery Barn is a specialty upscale American-based home furnishing store that was acquired by Williams-Sonoma in 1986. Pottery Barn was built on the idea that home design should be exceptional in comfort, quality, style, and value (Pottery Barn, 2014). IKEA’s promotional strategy includes a mix of television advertising, sponsorship, newspaper and magazine advertising. The concept of “democratic design” is portrayed in all of these methods, especially in the iconic IKEA catalog. This design features three elements: form, functionality, and low price (IKEA, 2014). With respect to low price, IKEA customers play an important role by driving to the store, selecting the flat-packed product from warehouse, transporting the product home, and finishing by assembling the product themselves. Having the customer complete this labor is all what helps contribute to the low pricing commitment...
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...Promotional and Advertising Strategies Author’s name Institution’s name Promotional and Advertising Strategies Abstract The automotive industry is a multi-billion industry. The dawn of the twentieth century witnessed the beginning of the automobile industry.entrpernuers in the United States and Europe made the first prototypes of vehicles by the end of the nineteenth century. Since then entrepreneurial activities has been booming in the industry that has been motivated by competition among car manufacturers. Competition in the automotive industry inspired the introduction of innovative promotional strategies, marketing strategies, pricing and consumer-oriented promotional strategies. This paper researches on the automotive industry, taking note of leading companies in their respective product category, their marketing strategy, consumer-oriented promotional strategies, their pricing and the leading companies within the product group. This paper also recommends ways in which companies I the automotive industry could use marketing information to gain competitive advantage and to differentiate itself in the marketplace. Effective advertising strategies for automotive companies will also be mentioned. Introduction Automotive industry started in the 1890’s as a result of the domestic market and the introduction of mass production in the automotive industry that rapidly revolutionized the industry into the largest in the world (McAlinden, Sean & Bernard 2005). The industry...
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...Running Head: PROMOTIONAL & ADVERTISING STRATEGIES: NIKE vs. UNDER ARMOUR Promotional & Advertising Strategies: Nike vs. Under Armour Contemporary Business March 8, 2015 Promotional strategy can determine a company’s success. Promotion, according to Kurtz, is the function of informing, persuading, and influencing a purchase decision (2013). Throughout this paper, I will compare and contrast promotional strategies between two major sporting apparel companies: Nike and Under Armour. I will also show how pricing decisions of each company has resulted in competitive gain or loss. I chose to write about Nike and Under Armour because they are two major sport apparel companies competing to win consumers over. Even though Nike is the “big dog”, and Under Armour is the “underdog”, both companies have phenomenal marketing strategies. Marketing managers for both companies promote through television, radio, internet, direct mailings, and newspaper and magazine ads. This is called integrated marketing communications or IMC (Kurtz, 2013). Nike has come up with a new product and marketing strategy aimed at finding ways to capture the woman’s sport apparel market after years of failed attempts (Warner, 2005). After interviewing different women, Nike found that most women want a sports outfit that has cross-functional uses. One consumer stated that she wants a nice outfit that’s suitable for hanging out with friends, wearing it to work, or simply to...
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...PROMOTIONAL AND ADVERTISING STRATEGIES Martha Simpson Professor Gary Shelton BUS 508: Contemporary Business Strayer University August 31, 2014 The history of the automobile began during the late 1700s when European engineers began producing powered vehicles that consisted of combustion, steam, and electrical motors. The 1900s also proved to be a time when the uncertainty of determining which type of motor could actually power the automobile was in question as well. The production of the first U.S. automobile in 1901 by the Ford Motor Company has revolutionized, and changed the course of the auto industry as we know today. In the beginning of its production, automobiles were considered a luxury that only the rich could afford, but today, it is viewed as a necessity that can provide consumers with the freedom to take them anywhere they choose. Henry Ford (Ford Motor Company) helped to shape the auto industry by pricing cars to be affordable, and paying his employees’ wages that would allow them an opportunity to afford to purchase the automobiles they produced. General Motors has been in the auto industry for more than one-hundred years, and has produced about 450 million automobiles worldwide. Although there has been a decline in the production of domestic and foreign automobiles by more than thirty percent in the past fifty years, General Motors way of doing business...
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...popular in the mass market. Debuting in 1925 the Ford Model T Runabout sold for only $281 US dollars. Henry Ford built 34,000 models the first year which featured a cargo box, adjustable tailgate, four stake pockets and heavy duty rear springs. Which much popularity came other competitors like Louis Chevrolet who at the time was a Co-Founder to Chevrolet Motor Car Company and later merged with General Motors. Louis had a vision to become the leading brand for selling mainstream vehicles. Chevrolet’s goal for getting there was to overtake Henry Ford’s Model T. Louis competitive spirit led to decades of automobile manufactures competing to create the bestselling vehicles in the United States. In this paper you’ll discover the promotional strategies used by both companies to sell the 2014 Ford F-150 and 2014 Silverado 1500. Marketing recommendations will be made for Ford and Chevrolet to differentiate themselves in the marketplace in order to gain advantage over their competitors. You’ll find ways for both companies to assist with consumer oriented promotions and also take a look at the strategic manner in which has made its pricing decisions. Lastly, the most effective advertising medium will be determined for other automobile manufactures. 2014 Ford F-150 vs 2014 Silverado Fuel Economy It’s not a coincidence that both companies are pulling out all stops in competing for the 2014 all American pickup truck. The year 2014...
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...popular in the mass market. Debuting in 1925 the Ford Model T Runabout sold for only $281 US dollars. Henry Ford built 34,000 models the first year which featured a cargo box, adjustable tailgate, four stake pockets and heavy duty rear springs. Which much popularity came other competitors like Louis Chevrolet who at the time was a Co-Founder to Chevrolet Motor Car Company and later merged with General Motors. Louis had a vision to become the leading brand for selling mainstream vehicles. Chevrolet’s goal for getting there was to overtake Henry Ford’s Model T. Louis competitive spirit led to decades of automobile manufactures competing to create the bestselling vehicles in the United States. In this paper you’ll discover the promotional strategies used by both companies to sell the 2014 Ford F-150 and 2014 Silverado 1500. Marketing recommendations will be made for Ford and Chevrolet to differentiate themselves in the marketplace in order to gain advantage over their competitors. You’ll find ways for both companies to assist with consumer oriented promotions and also take a look at the strategic manner in which has made its pricing decisions. Lastly, the most effective advertising medium will be determined for other automobile manufactures. 2014 Ford F-150 vs 2014 Silverado Fuel Economy It’s not a coincidence that both companies are pulling out all stops in competing for the 2014 all American pickup truck. The year 2014...
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...The study is to research about sleep deprivation among students. The focus groups of the study are the students of MultiMedia University (MMU). The proper methodology is important to gather such information to avoid any misinterpretation of data or any obsolete information. Questionnaire method was chosen to collect information and data from the students of MMU. Questionnaire is to be the fastest and easiest way to gather the information needed. The information can be collected from a large number of people in a short period of time in a relatively cost effective way. Data can be analyze more scientifically and objectively than any other forms of research. Secondary data was used to gain more knowledge about sleep deprivation and its connection to students. Articles that was found online were also used as guidelines on creating the proper questionnaire to be distributed to the students on MMU. The questionnaire consists of 5 sections which are section A,B,C,D and E. Section A is the demographic section which is the information of the respondents only related to the topic and does not include any private information to avoid invasion of privacy. Section B studies the sleeping habits of each respondents to identify their sleeping pattern to identify whether they are sleeping at normal hours. Section C asks whether the respondents is experiencing or have experienced sleep deprivation as the main idea of the questionnaire. Section D are the factors that causes their sleep deprivation...
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...Promotional strategy is designed to sell a product. It is a one-way form of communication, from company to consumer, geared toward giving consumers the information necessary to make a purchasing decision. Promotions tell consumers about the product and how to get it. The purpose of promotion is to sell products and to build brand name. The promotional strategy is a two-way interaction between company and consumer designed primarily to increase sales, often by attracting new customers. Brand building is a side effect of promotional strategies, but it is not the purpose. Promotional strategies give away something, whether it is free product, money or other awards, as a way to bring in consumers who may not be attracted to the product under normal circumstances. Promotional strategies can also increase sales through repetition. Promotional campaigns can cost a great deal of money and may not show immediate results. The promotional strategy is ideal for small to medium or even large companies with brand recognition. Examples of promotional strategy include scripted commercials, magazine advertisements, radio announcements, giving away coupons, printed information or free products/free sampling that inform the consumer about a product. It is also a mixed of advertising, promotion, personal selling and publicity for communication with its target market. Promotion constitutes the key tool that's used to deliver information about a product or service to consumers and the public at large...
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...WS5 Case Study Paper Christina M. Barden Indiana Wesleyan University WS5 Case Study Paper The initiatives and promotional strategies of organizations and corporate substructures differ greatly depending on each particular entities goals, interests, and objectives. While many choose to implement specific strategies to open up and increase their consumer market, some utilize techniques that are limited to maintaining current standings, as well as the groups that focus more on corporate agendas. The primary consideration is often times and more often than not intended to pinpoint a select group or favor a reserved population. In most cases, it is the ambition of those involved to identify exactly what these needs are and define it in a manner in which is easily introduced to those who need the information. It is best done by clearly establishing what the product is and how it is in fact different from the rest of the market, creatively introducing ways to increase and grow sales, stabilize sales, and showoff the value of what is already on the market (Kotler, 2009). Colgate is not new to the world of marketing; in fact, they have been marketing to the populations worldwide for decades (www.colgate.com). The marketing team in place for Colgate is responsible for the development and implementation of plans that are directed at the “establishment and maintenance of current and long range...
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...Fast Food Promotional and Advertising Strategies xxxx BUS 508 – Contemporary Business xxxx xxxx Strayer University Fast Food Promotional and Advertising Strategies The purpose of this paper is to compare and contrast the promotional strategies of two quick service restaurants (QSR), McDonald’s and Domino’s Pizza, which both sell fast food. The paper will also recommend two ways in which a company within the fast food industry could use marketing information to differentiate itself in the marketplace to gain an advantage over its competitors. Two uses for consumer-oriented promotions that could assist a fast food company in both the short and long term are proposed in this paper. The leading fast food company, McDonald’s, has made pricing decisions to meet their competitors’ prices so that price is a nonissue and focus rather on adding value to attract customers. When their prices are equal, fast food companies can take alternate actions in order to differentiate themselves and gain competitive advantage. Lastly, the most effective advertising medium for a company in the fast food industry, which is television advertising, is examined in this paper. Promotional Strategies: McDonald’s vs Domino’s Pizza McDonald’s is the largest global fast foodservice retailer with more than 35,000 restaurants in over 100 countries offering a substantially uniform menu with some geographic variations. McDonald’s restaurants serve about 70 million people each day (Fast Food Industry...
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