...implement with regards to trending, they are; Scanning, Listening, and Forecasting. According to this author, the first strategy, scanning, is to identify the different media outlets, cultural developments and various brands to further investigate how other brands are performing in the market. This will provide insight as to the consumers view and trends toward current brands. The second strategy is listening, which focuses more on social media, and which communities are leading the discussions, and why. Social media gets you in touch with your customers, drives business to your websites, and opens the door to engage customer communications and so much more. If you’re not on social media, than you’re missing a huge opportunity to grow your business and get in touch with how your customers feel about various brands. The third strategy is forecasting. Forecasting is all about researching firms that trend for a living, such as Cassandra Daily and PSFK. (White., S. 2012) This can help you identify key movements in the market and possible opportunities to help you grow your business. By understanding what market trends affect your business, you could identify changes that could positively or negatively affect your business, such as online social media factors, brand awareness, and sudden changes in the economy that may directly affect consumer opinion toward spending. I chose the lodging icon, Airbnb, with its company slogan “Belong Anywhere”. Airbnb was started...
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...Enterprise and Entrepreneurship|Unit 3: The Business EnvironmentFirst of two assignments for this unit| || Assignment title|| In this assessment you will have opportunities to provide evidence against the following criteria. Indicate the page numbers where the evidence can be found.| Criteria reference|To achieve the criteria the evidence must show that the student is able to:||Task no.||Page numbers| P1|Identify sources of information about the current business environment||1||| P2|Describe how a new micro start-up business relates to the business environment||1||| P3|Describe current trends and how these will impact on a micro start-up business||2||| P4|Describe potential ethical concerns of customers about a micro start-up business||3||| M1|Explain how the changes in the current business environment are likely to impact upon a selected micro start-up business||1||| M2|Explain how current trends are likely to impact on a micro start-up business||2||| D1|Assess the risks and opportunities changes in the current business environment pose for a selected micro start-up business||||| Learner declaration| I certify that the work submitted for this assignment is my own and research sources are fully acknowledged.Learner signature: Date: | Assignment brief| Unit number and title|Unit 3: The Business Environment | Qualification|Level 2 BTEC Diploma/Certificate in Understanding Enterprise and Entrepreneurship| Start date|| Deadline || Assessor|| | Assignment title|Watching the Environment|...
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...about different companies and must be done once you get the shortlists from these companies. 6. REMs – This folder contains all the documents used in the Niche placement preparation REMs. 7. Questions asked in summers – This folder contains questions that were asked by different companies in the previous years. We are updating the folder with feedback from as many Tuchhas as possible but it will not contain the entire spectrum of questions and should be used only to identify a trend. 8. Interesting links – This folder contains interesting links that we think are useful for you. We would keep updating the same during the course of your preparation. 9. Newsletters – This folder contains the Niche newsletters and articles that had been mailed to you previously. The division is not strict and simply aims to provide every one of you with a roadmap for preparation. This preparation is in addition to HR preparation that you all are expected to do. In addition, you are expected to know about the latest trends in marketing. In case of any doubt/suggestion or clarification, feel free to reach out to any Niche...
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...Trend Article Analysis University of Phoenix – MGT373 Jennifer Choy August 21, 2011 In this day and age there are millions of trends that are present in almost every industry. In order for an organization to be successful it is essential that they follow some of these trends so that their company appeals to people. This proves to be true for the event planning and convention industries. Two articles that pinpoint a couple different trends are “Nifty gadgets taking special events to a new level” and “ The article “Nifty gadgets taking special events to a new level” is a great example of trends within the planning and convention industries. In the years 2001-2004 these industries saw a huge decline in business. The reason for this was the failing economy. Companies and organizations could no longer fit events and gatherings into the budget. In 2005 event planning companies such as Dolce parties finally started to see an incline in corporate parties and events. However, these parties and events were at a much smaller scale. It was only the important people that were being invited to these gatherings because the budgets were still not back to where they were. Since the comeback of events was at a slow pace, event planners and convention industries decided to introduce some new gadgets to attract clientele. According to Stableford ( 2005)“Beyond the typical post-event surveys and evaluation of how many sales leads actually translate into qualified...
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...Future Trends Charmaine Saint Surin OI/466 June 6, 2016 Fred Greifenstein Future Trends According to Webster.com dictionary, a trend is usually known as something undergoing change or is developing into something or going into a general or specific direction. Innovation is about timing, but there is not a theory behind it. It includes processes and new ideas and then they are converted into new useful products. It creates value for customers who pay for it. Disruptive Innovation is an all-out risk taker, creating new markets with more practical approaches towards buyer's purchasing power. What we know is that innovation does not have an end, it's the fact that what we want and what we need continues to change. Innovation is not the goal but everything we do to get to that point. I think collaboration within innovation is an revolving trend. This is the concept of an open source. With the internet age, there are so many people connected worldwide, so there is the fact of collaboration. It creates alternatives for companies who which are smaller to have the ability to remain small and agile. If that is the choice, it also allows those less ended businesses to be a part of the larger agenda in innovation. Innovation is a connected function of communities. It seems like we are all trying to come up with new solutions that capture the technologies we encompass and maybe even working with alternatives reworking those technologies. An example of this is universities...
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...Statistics show that only 47% of consumers around the world say they trust paid media. (trendspotting.com) * Servile brands and citysumers are a more established trend as they are wanting something new, this type of consumer lives in a capital/or town where they are usually the first to try out new products and follow the latest trends. * Servile brands let the consumer try it out first, using ‘hands on’ e-tools which allows them to test run products, for example marks and Spencer’s where they allow consumers to try before they buy on the latest nail varnishes. * IKEA has an online application where the consumer can design their own kitchen. (www.ikea.com) * Citysumers capture the essence of the city and its heritage * Established market of consumers as they are within a city latest technology and trends are available there first, outsiders from cities will be delayed. Sub trend: Modern make it and mend * Citizen hacking -using faulty or discarded objects and turning them into functional pieces- economical- cities in debt. Urbanization: * “67% of urban consumers identify themselves with their city, almost as many as the 69% that identify themselves with their nation” (www.trendspotting.com) * Culture is reflected in style of the nation * App culture Future trends: * 2013- * ‘I made that’ :Product customization and combined high tech manufacturing New, networked models of product identification. * ‘Equalized’ - Consumers...
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...when this promotion is going to end either. This information is supported by my findings too. The majority of the men I interviewed did say that they could no longer afford to spend large amounts of money on individual garments. Instead they stressed that before £100+ jeans would not have bothered them, however now they would be looking to spend below this figure. [pic] I felt that it was extremely important that I explored any weaknesses the consumers felt were an issue too. The main problem was that men would like to have some coloured denim within the range rather than just the same denim washes they always have. It was obvious that many consumers felt that there was not a wide enough range in terms of styles that reflects current trends; instead the styles are just subtle changes across their product range. When analysing the primary research,...
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...a noun, “Fashion is a popular trend or the manner of doing something”. As a verb, it says “make into a particular or required form”. To me, fashion is a never ending cycle of various styles that people can express themselves through. It is a movement that allows individuals to show who they really are through clothes. Throughout the past 65 years, fashion evolved so much in so many different ways. I decided to take a look at those ways and to see how fashion has come about to what it is now and how some trends still remain the same until this day as a classic. The 60’s was the year that the television had a huge impact on what people were exposed to, such as fashion trends. It helped the youth stay in touch with what was...
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...Principles of Entr3preneurship Business Trends ERIC KING AI logo © 2013 by Eric King According to Tim-Graw (2012), the social trend is evident throughout the world with more networking events and opportunities occurring weekly. Social trend involves top social networking platforms such as Facebook, MySpace, and other Internet networking sites. The list continues further with the creation of music apps, Spotify, Pandora, and these other networking sites will impact the industry by providing opportunity for growth. Whenever a new social media tool is created, a new opportunity is as well. New opportunity means an increase in jobs, expanding the pool of success to Full Sail graduates and other industry driven people. This trend will also be impactful to the industry by recognizing what’s new and hot on the market! New applications are being formed from web 2.0 tools allowing for users to run businesses with just one click away. It is important that we monitor this trend to see what exactly are the people are following. You have to know your target audiences wants and needs in order to satisfy them and become successful. One example of a business monetizing from social trend is Rick Ross’s, Untouchable MayBach Music Group also known as MMG. “Maybach Music Group has climbed to the forefront of mainstream rap” (BET, 2013). In order to be great in this music industry, you have to be able to keep up with the trends of it. Though Rick Ross has a catalogue of 4 popular mainstream...
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...restaurants have been opening one after another due to its popularity and success which entrepreneurs saw as an opportunity to open other famous ramen restaurants as it has become a trend. In SM Megamall as I walk inside the new Mega Fashion Hall crowded with people in the late night, I take the elevator to go up on the 3rd floor of the building where the well-known recently opened ramen restaurant called Ippudo Ramen is. The first sight that will appear before your eyes after the elevator doors open will be a crowd of people lining up for Ippudo. The wait is definitely worth it as the food there is extravagant and definitely food that you will come back with. In an interview from Shigemi Kawahara, he said that the reason people line up in Ipuddo might be “Because it’s delicious. We train our staff that every single bowl of ramen has to have a smile and maybe our customers can feel that. It’s very easy to serve a good bowl of ramen. Delicious ramen is everywhere, but what’s important to us is the quality, the service and the cleanliness” (Japan’s World-Famous Ramen House Opens in Manila). I have eaten their food and I would like to say that the food is divine with rich flavors that Filipinos will love and so far has been the best ramen restaurant in the Philippines in my opinion. The food trend started pretty recently in the Philippines as Filipinos are only beginning to appreciate...
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...Family of Woodstock, Inc. Paper India Larondos BSHS/355 August 24, 2015 Professor: T. Jones Family of Woodstock, Inc. Paper This paper will discuss the factors that led to the creation of Family of Woodstock. It will also discuss the changes that Family of Woodstock endured to meet the specialized needs of the community. To add, the paper will include the development and changes in values, attitudes, and beliefs over a 40-year period; and how these changes affected the way they deliver services. Lastly, this paper will explain how specializations became a trend across human services delivery, in general. Introduction In 1969 America’s youth was in search of utopia and found it at a music festival called Woodstock in Ulster County. Young people travelled from all over to partake in the Woodstock festival, nearly 400,000 young people came to attend the festival (Gibbons, 2010). However, after the music festival ended, people were stuck in that county which turned into a problem. Homelessness and drugs became a major problem, the young people slept on benches, camped out in parking lots, and searched for food and clothing (Gibbons, 2010). This also became a problem for the townspeople. The young people were getting in trouble with the law because of the drugs. One woman, Gail Varsi, recognized the problem and decided to do something. She first, gave police her home number and instructed them to call her whenever a homeless youth got in trouble. She then reached out to...
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...Berndt, A. & du Plessis, J.P., 2012. Applied Strategic Marketing. 4th ed. Heinemann. or the old edition Du Plessis, J.P., Jooste, C.J. & Strydom, W.J., 2009. Applied Strategic Marketing. 3rd ed. Heinemann. QUESTION 1 This question reflects on the analyses of the macro environment. (Jooste et al., 2012, Chapter 2; or Du Plessis et al., 2009, Chapter 2). The students have to identify FIVE trends in the macro environment that impact on micro breweries. A trend is something that changes in the macro environment, for example: Rise in disposable income Customers search for value for money Rise of black middle class Rise of social media Rising costs. Environment protection/‘green industry’ Changing lifestyles Changing role of women New legislation Consumer Protection Act Changing needs of consumers. Each trend has to be discussed briefly and the student has to indicate what the impact and influence of the trend on the micro breweries industry are. Mark allocation: Definition of trend (1 mark) Impact of trend (2 marks) Implications for marketing of micro breweries (3 marks) 5 trends x 6 marks = 30 marks. Marking Memorandum: 2nd Semester 2012 © IMM Graduate School of Marketing M2/MAR202 [30] Page 2 of 2 NOTE: It is not possible to provide model answers. The students have total freedom to formulate their answers. QUESTION 2 2.1 [30] (See Jooste et al., 2012, pp.123-127; Du Plessis et al., 2009, pp.130-132.) Students can reflect on: Direct versus indirect...
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...much directional movement - or trend - is in a market. It is often combined with the Average Directional Movement Index (ADX) study. The DMI is plotted as two lines. You can determine Bullish or Bearish trend direction by two directional indicator values - +DM and -DM. The calculation determines the relationship of the current close to the previous close. If the current close is higher, a greater value is placed on the +DM and a lower value on the -DM. This means in a strong trend, the lines will move in opposite directions, and in a correction or sideways move they will converge. There is also a calculation connected to a range, Average True Range, or DMIATR, so if a range begins to contract in a trend, the lines may also begin to converge as momentum slows. The formulas for determining DMI and ADX are not complex. You must first determine the Directional Movement - DM - for the current trading interval. After several more mathematical steps, a DM value between zero and 100 is determined. DMI can be used as both an entry and as an exit tool. As an exit tool, the chart shows the DMI and the DMI Difference, or DDIF. Although the DMI study does have a limit of scale, it is very rare for it to get near to those limits especially on the upside. Therefore, the DMI Diff can be used to gauge levels of Overbought and Oversold. When the difference is greater than 30, except in very strong trends, it indicates the potential of a correction or change in trend. Markets normally fall more...
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...Customer satisfaction level for online shopping using ACSI’s with respect to Indian shopping trends ABSTRACT Today is the Era of Globalization and the consumer is not bound within boundaries of a particular place to access products available in the outer world, now he can go beyond the boundaries of any market area where he lives, to access the things of his interest. But this virtual connectivity known as “ONLINE SHOPPING OR E-TAILING” is really a challenge for Indian customers to be associated with; they face some real time problems related to trust and quality. But the Indian shopping trend shows some rigid type of behavior towards online shopping. They do not trust this shopping style as they have to see and choose a product virtually and pay for it, without any kind of physical touch, which was really difficult to be done in Indian market, but in past 2-3 years the trends have changed at least in metros and big cities. This paper is aim to measure the customer satisfaction level using ACSI (American Customer’s Satisfaction Index), which will give us a deep insight of the market potential available in Indore for online shopping. It has been observed that Indore is adapting the changes in shopping trends in metros very quickly, they love to shop from home and enjoy online shopping. So the process of analysis of factor affecting customer satisfaction levels was initiated, ACSI Model uses the three manifest variables: Customer’s Expectation, Perceived Values and Over-all...
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...other companies. These may include the innovative products or services you provide, your management team and the company's reputation. These are the items your company must continue focusing on in order to continue its success. 2 Assess the company's weaknesses. This section of a SWOT analysis is often the most difficult step, but is also one of the most important. These items are things that are holding your company back from success. Include any problems you foresee such as employee turnover, outdated computer systems or failure to keep up with current market trends in the products you manufacture. By acknowledging the company's weaknesses, potential threats are easier to avoid in the future. 3 Investigate possible opportunities. Look within the company, the industry and the marketplace for potential options that could help your company advance. If there is a new trend in a specific product, find out if your company could benefit from manufacturing it. 4 Determine the threats to your company. This external factor of a SWOT analysis focuses on economic issues. If the economy is on a downturn, your company might be affected. Other possible threats include shifts in consumer tastes and new competitors. By learning what these are, your company may be able to take precautions to avoid the potential negative effects these threats cause. 5 Write it all down. When writing a SWOT paper, begin with the basic company information...
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