Develop the Pricing Strategy

1. What is the objective of the pricing strategy? (Measurable and Time-bound)

Pricing strategy is really very crucial factor for the business, especially for the one which is to operate on the internet where so many people have the opportunity to review and purchase the product. It is one of the necessary parts for the business to remain in the market and carry on doing its business. The main objective of the pricing strategy is to make sure that the customers get the product within reasonable amount of money and without getting dissatisfied. There are a number of other companies which are taking care of their customers and making sure that they get to them to buy the necessary product.

Price is the main object that provides any business the competitive edge over the other. The fashion industry is growing rapidly with a very fast pace and the factor of inefficient price can lead the business in the industry astray. The new markets for the online fashion industry demands a huge amount of research before picking any sort of strategy that would set the price of the products to be sold, and it is suggested to every business to observe the condition of the market where the business is to be expended to make a thorough research over the price factor. So it can be said that the purpose of the pricing strategy is to make sure that the customers get the right product within the reasonable price.

1. What is the price-cost strategy?

Both of these factors – price and cost – are crucial to be taken into consideration before making any move in the market. The online market is very spacious and can make the customers disloyal anytime. The margin of the profit should be the reason to leave the business from making any purchase. Numerous strategies are there that can be used for the purpose of setting the price of the product. The cost is determined for each of the product that has been produced by the manufacturing department of the organization. Then the breakeven point is considered and from where a little margin is kept as a profit to gain the competitive advantage and the right price for the business.

This is what the cost and price strategy determines. It is the strategy where the cost and the price, predicted, are compared with each other to make sure to attain its reasonable level. There are proves when the higher and the lower prices have turned down the customers from buying any product. Here there are a number of other things that are required to be taken into consideration and that is the price that has been set by the competitors in the market. The price of the same fashion industry product should be observed and if the setting price is higher than the one being sold by competitor, the strategy might be futile.

1. How will the strategy be implemented? (Tactics)

There should be the understanding of the market from all the perspectives. The management of the business should review the situation and the variables that have the potential to affect the business and its products. The fashion industry changes on daily basis and it is one of the industries where the behavior of the customers changes at once. Forming a strategy might not be that much difficult, but the real problem is when and how to put it into operation. The cost price is the best one when the market is going as per expectation and the price of the other competitors is a little higher or equal.

Withal the implementation should be occurred at the time when the all the variables in the market are taken into account. Customers should be interacted to know how much value they give to the product and how they perceive it. Interaction with them will explore the strengths and the weaknesses of the strategy. This will be the final stage that might provide the business a chance to review its pricing strategy of the marketing and to gain a better insight into the market and its related variables.

1. What is the price of the product?

In understandable words, it can be said the price is the amount of the cost rendered to produce the produce plus some reasonable amount of money as profit. It is really crucial for the existence of the business to ensure choosing the effective and efficient price for the products it is producing. Prices for the products will vary as a number of products are to be introduced in the market. It all depends over the competitors and the cost that would be rendered for producing them. Pricing is whole of the process that requires the involvement of the customers to get to know their expression and views about the pricing of various products.

1. For the tactics use a Project Management or a Gantt chart. On the chart include the activity that needs to be accomplished, when it needs to be accomplished, and who will be charge of the activity.

• Understanding of the broad fashion market
• First of all the thorough research is required to get to know about the variables that are active in the markets.
• The other tactic is to make sure to take the opinion of the customers.
• Observe the competitors in the market producing the same products

7. Develop the Place Strategy

1. What is the objective of the place strategy? (Measurable and Time-bound)

This is also one of the factors involved in the marketing mix and is crucial one. The business has to decide where the product has to be sold. Producing the product is not enough, but the management needs to determine the segment of the market that is to be covered. As it has been earlier described, the markets of the product of the business will be Europe, America and Asia. These are the significant markets where the customers will be able to buy the products of clothing from the business online with the assistance of the delivery.

Every business has a objective and that is to earn a huge amount of money in the shape of profit. The business will also seek the places where it would gain profit. For the online business of the fashion related objects, the chosen markets and its demographic features will help attain the set objectives. The ways of delivering the products should also be considered to enhance the reliability over the business from the side of the customers. The delivery time and the vehicles that will be used to attain this purpose should be efficient. Late and distorted delivery might destroy the image of the business.

1. What is the place – convenience strategy?

Place is the market where the management of the business aims to introduces the product. The place should be the one where there are demands for the business and its product; otherwise, there would be financial as well as non-financial loss to the business. Here the determination regarding the product and its delivery should be made and it should be estimated that who is going to provide the customers the products of the company, whether the assistance of any middle man will be taken or not.

1. How will the strategy be implemented? (Tactics)

It will be implemented after taking into consideration the facilities that the business has. If it has its own system that can provide the customers the desired product then that would be quite reasonable but if not, then the assistance of the middle man can be taken. They might be different companies that provide the assistance of taking luggage from one place to the other asked for places. The business is online so it would be better to point out the stalls where the desired product of the business will be available. There are options of delivering the products as well, but it all depends over the customers how she demands it.

1. Illustrate the channels that will be used.

The channels that will be used in the regard of delivering the products to the customers place will be as follow:

The products will be installed towards different outlets of the business, where the customers can come and buy the desired product. The outlets will be opened with the assistance of joint venture with the local brands masters in all the three sub-continents. In this way, the customers can come physically to observe the whole of the products that are manufactured by the organization and there will be no need of delivery in this regard.

On the other side, if the customer places online order, which is also accepted, all the facilities have been arranged and the contract with the local transport company has been made. Moreover, the aerial services is also used whenever is required. The main thing is that the agreement is made between the customers and the company that who will pay the amount of the delivery. Sometimes, the charges have been mentioned at the time when the customer places his or her order.

1. For the tactics use a Project Management or a Gantt chart. On the chart include the activity that needs to be accomplished, when it needs to be accomplished, and who will be charge of the activity.

The activities that will be necessary to be performed are numerous and have been mentioned in this segment.

• The local stores of the organization will have to be active all the time so that the order could be placed within the time and the quantity mentioned.
• The online team would have to response effectively so that the customers could be satisfied all the time with it.
• The fashion businesses with which the joint venture will be made has to supply the products within time and within the parameters quality and quantity mentioned.

1. Prepare a budget for this strategy

The whole of the budget is dependent over the place where the delivery is to be made. The local currency will determine the amount which will be charged. For the European countries, the currency will be Euro, for Americans, the currency will be dollar and for Asia, the currency will be dependent over the country from where the online order is made.

Develop the Promotion/Communication Strategy

1. What is the objective of the Promotion/Communication strategy? (Measurable and Time-bound)

The business needs to promote their brands so that more and more people could see it and make an effort to buy it. For fulfilling this obligation, the businesses take the assistance of the online and offline media. They pay some amount of money for the advertisement campaign and expect there would be increment in the sale of their product in the market where the business is having its presence. In the case of the fashion industry, the communication strategy will and should be related to the culture of the country where it is promoting it product. On the other side, the product should also be the one manufactured in accordance to the accepted values.

The factor of the modernity does not mean to ignore the culture and beliefs of the people. The management of the business might face numerous challenges if it does so. It might face some legal challenges as well. The fashion especially the clothing trends of America and Pakistan are obviously different. It is not only the distance that makes them separate to each other, but the people of both of the countries will react differently to the same clothes. The objective, which is obviously the increment in the sale and then profit, would only be fulfilled when the promotion is being conducted of the product that is manufactured in accordance to the demands of the people.

1. What is the Promotion/Communication strategy?

It is one of the significant parts of the marketing mix of any business. It means the strategy that will undertake the medium which will persuades the people to buy a certain product. For most of the businesses, it is considered to be the most crucial source of increasing the revenue and the presence of the business where there is no awareness among the masses about it product. Furthermore, it is the tool to have superiority over the competitors as well.

1. How will the strategy be implemented? (Tactics) – needs to be at least two campaigns

The whole of the market where the business has to make sure its presence is very spacious and diverse. People have different choices regarding clothes and jewelry. They need something that could maintain the level of fashion while fulfilling their needs. The two necessary campaigns that will be conducted are as follow:

The assistance of the social media will be taken as it involves the markets of three continents so it would otherwise require a huge amount of money for advertisement. The social media, which include Facebook, Twitter, Instagram, etc., will be really crucial before and after the launch of the products of the business. Due to it more and more customers can be attracted and informed with a reasonable amount of money.

The other campaign for the promotion of the product will be made over the print media of all the three widely spacious markets. The print media, which include magazines and the newspaper, also attract a number of people on daily basis, and there are millions of people who regularly read them. They will be able to know the type of product that will be going to or have been introduced in the market. Both of these campaigns are expected to help the business in attained the desired and set goals.

1. Illustrate a one page print flyer/brochure/advertisement for the product.

Following is the broacher that will be used for the purpose of fulfilling this strategy of the marketing mix effectively.

1. Prepare a budget for this strategy

Budget for the achievement of both of the objectives put forth above will greatly vary. For the social media a team of writer will be hired that will be always ready to respond and inform the predicted customers on the social media and the personal websites of the business. The total estimated amount for the social media campaign would be $50,000 (Remember it is just expected). On the other side for the print media, which is not owned by the company, might demand various amount of money, and it all depends over the place where this strategy is being carried out.

Develop the Product Strategy

1. What is the objective of the product strategy? (Measurable and Time-bound)

The product strategy is for the purpose of making sure that everybody in the organization knows how the product will be produced and the how the customers will be given the opportunities to buy them. The purpose of this strategy is to make sure that the product is being produced in accordance the demand of the business so that the competitive edge could be produced. If the organization produces a product that will be having not features to attract the customers, there will be loss of the resources that the company cannot bear. The major thing that is lost if the product strategy is failed is the loss of time, which is money itself.

The objective of this sort of strategy is to make sure that the accurate product with the exact number and qualities is being manufactured. The thorough analysis is made and then it is examined. After getting examined, the attributes that are to be included are reviewed and the final decision of choosing them is made. The production process starts and the employees have the direction what and how to produce it. The business is in the market for the purpose of selling something and that would, of course, be any sort of product or service. When it is the matter of the jewelry and clothing the objectives become wide.

1. What is the product strategy?

In the market, the product stands for the thing that satisfies the needs of the customers. Product strategy is the process through which the whole of the product is produced after passing through various steps. It may be positing the product in the market, repositioning the product, designing the product, eliminating the product or any other object. It is really crucial for the successful implementation of the strategy to get to know what the customers need and what the competitors are producing.

1. How will the strategy be implemented? (Tactics)

There are a number of things that are required to be taken into consideration while implementing the product strategy. The very first one of them is the total amount of the budget that is required to produce the certain units of the products. The new products needs to be marketed through various online and offline strategies. The design of the product is required to be reviewed and then ask the employee to produce the same product having quality at every level of the manufacturing process. The whole of the plan should be mapped out before launching the product into the market.

1. Make sure you define the product so the reader understands the strategy and tactics.

Product is something that has value for the customers so that they could satisfy themselves with the use of it. They have to give the money in consideration of the product and want their desires to be fulfilled. If this happens they get satisfied and come again to make a purchase, and if they get dissatisfied, they would never like to come back and would advice other not to use the product. It will be all due to the inefficacy of the product strategy and its implementation. Products are tangibles and can be touched unlike services.

1. Provide a picture/sketch of the product

The following is the picture of the website of the fashion and one of the products that the customers will be able to buy without any problem at all.

Global Wine Industry

1. Change in the global wine industry

The global wine industry is getting flourished with the passage of time. The increased demand from many countries of the world has intensified competition in this business. There are a number of varieties of wines that are being produced by the companies spreading all around the world. This change has not been created at once, but there occur a number of changes in this industry and that takes many years. Furthermore, there are many countries of the world that has started producing wine of various colors and flavors. It is the capital invested in this industry and the behavior of the people towards it has changed the production of this product.

2. What are the underlying drivers of change?

There are a number of underlying forces that have their deeper impact over the wine industry. These forces include the use of the technology like the internet by the companies as well as by the customers for knowing more about the product they want to buy, globalization that is creating new markets for the businesses, the clime that has its deeper impact over the wine industry, the marketing and promotion programs that are making the customers aware of the features of the product and last but not the least, the change in wine like there are numerous colors and the flavors in which the wine is being produced.

3. How might those driving forces change the industry?

There are certain other factors too, which have changed and affected this industry, and they are numerous in number. Moreover, the use of wine is becoming the needs of the people. The major factors that have been described above change this industry in many ways. The way of change of the underlying factors has been described below.

Use of technology

The information regarding the production of a specific brand is provided to the people through the use of the internet, and the people from all around the world try to get them. So we can say that the internet has made it easy for the people to make an order and to get the type of wine they need. The businesses are using new machineries to make the wine exceptional.

Effects of globalization

Due to the globalization, the wine industry is being changed too just like others. The new markets are being opened for the organizations related to wine. The import and export of the wine business is increasing day by day. The wine that was used to be produced in one country is now getting expended to other countries. And due to lesser number of barriers in entering to a new market, the businesses are investing money and are producing plants for the manufacturing of the wine. So this factor has influenced and one of the underlying factors of the change in the wine industry.

Climate

One of the forces of the wine industry is the change in the climate. The production of the eatables also affects the overall market of the wine. Just like the other businesses, the weather has affected the business of wine all around the world. The production of the grapes is very sensitive to the surrounding environment, if the weather is reasonable the volume of the grapes will be increased and the vice versa. The areas where these eatables are produced, there the investors have started off producing wine in a bulk quantity.

Promotion and advertisement

As compared to the pervious time period, the wine producers have been successful in making their product famous with the assistance of the advertisement. It is not only the matter of the increment in the wine production, but also the decline happens if the related factors are not in favor of the wine industry. Millions of dollars are being invested in this sector to make it more strengthened.

Different varieties and colors

People have started taking wine and the want it to be in different flavors and colors. When the industry produces and satisfies this demand of the people regarding the wine, the change in the overall wine industry incurs.  Whenever, the business introduces some new flavor of the wine and promotes it with the use of internet through marketing, the people tend towards it and want to use it minimum for once.

Stakeholder Analysis

There are three different companies that are producing the same product for the companies that need bolt. Every company and the product have their own strengths and weaknesses, and both of these factors cannot be ignored in any case. The price is not everything that should be taken into consideration; the main thing is the quality, and the product that is suitable for the environment. Company one should be used as the bolt that it is manufacturing are of high quality, and their price will also be reasonable. The reason for choosing the company is that of the quality and it is not affecting the environment.

1. There are certain problems with the companies that are producing the products.
2. It is violating the labor practices that is unethical and the shareholder, namely labor is not satisfied with the business.
3. The company produces the by product that is very dangerous for the whole of the environment.
4. The weight will not meet the standards and the quality of the bolt will not be accepted.
5. Followings are the main and crucial stakeholders attached with the business.
6. The labors, managers, media and the government are the major stakeholders in this case.
7. People, the management, the buyer, government, wildlife and the others.
8. The packaging department, government, buyer and the others.
9. The shareholders can be prioritized according to their importance. They need to be give proper consideration so that their importance could be known to the business.
10. In this case, labors and the managers are the main stakeholders that need to be focused.
11. The company in this case is the main stakeholder and the management, while on the other side, the environment and the things including the human beings are the main stakeholders in this case.
12. The relevant authorities, the management of the company, and the others will be the ones, who are going to be the main stakeholders.
13. The effects of the stakeholders should be considered as they are the ones that might destroy the reputation of the business and can harm the business badly and severely.
14. The labor might affect the business badly, as the business will ask and give the order to the company and it will require the labor to put their efforts to manufacture the products ordered.
15. The main stakeholders, in this regard, are the human beings and the animals and birds that are directly affected with the toxic that is released from the company. They might ask the government to make the necessary action and to stop the operations of the business.
16. A the company itself is the stockholders as if it buys the product from the company, it is going to get affected from the product, and the further product of which the bolts are to become the part will be affected.

Conclusion

The stakeholders are very necessary for the business to be taken into consideration. There are many ways, through which they can be identified and their needs can only be satisfied. It all depends over the management of the business to make sure that they are not being influenced through the operations in which it is involved. In the above cases, the thorough analysis of the stakeholders has been done.

Due to analysis, the major stakeholders of the relevant companies have been introduced, and the impact that they might be having have been identified. Their involvement in the business and chief decisions, which are made is necessary, as in this way, there will be able to more satisfaction and loyalty in the mind of the stakeholders. They will be more interested in the future and the performance of the business. They will make the decision by considering in their own decision and will form the decision in the best interest of the organization.

The operations of the business should not affect any of the stakeholders that is directly and indirectly attached with the business. Just like the above mentioned situation of the company, where the company is producing the product while ignoring the environment that is totally an unethical behavior. These sorts of practices are never liked by anybody, and it will be the loss of the organization as well as the living things.

Analytical Summary

The name of the article is “Visualizing the Good Life: A Cross-Cultural Analysis” by Gregory Bonn and Romin W. Tafarodi. They have focused over the cultural differences of the nation, and how these factors affect the lives of the people. The paper covers all the things in the different countries regarding the factors that are related to the creation of the good life. What people say and what sort of the things they consider necessary for the happy life has been given consideration in this article. More than 500 students were asked in this regard. The article has focused over the countries and the difference in their cultures. People belonging to one nation might be feeling bad in one event, while the people belonging to another might be having nothing at all being in at that event. Same is the case with the difference in the factors that create problems for one nation, and the same factors might be the creation of the joy for the other.

Data from different countries of the world including China, Canada, and from various eastern countries have been collected. For examples, the article has also shown the type of the experience that makes the people happy. There were many questions that were asked from the people that include the students, who have clearly shown their thoughts regarding the living standards that make them happy. It all depends over the interests and the beliefs that the people have, they make them happy or sorrowful. Sometimes the faith of one person might be harming to others while at the same time, he might be having firm believes over them. So, we can say that the article has been a sort of information that is really useful to know for the people living in various parts of the world. The social life of the people also affects the quality of the life. If the people are having more friends and the ones that are their close to them, they will make them happy and feel comfortable every time they feel difficulty.

The happiness is what a person individually and the society as collectively seeks. For getting this, they struggle a lot and finds out the way to be happy. There are certain factors that are always there to make them happy and joyous. The most significant thing about them is that they are different from each other, and their level is different in different countries.  The religion is also one of the significant factors, which makes the people think over the things that should be adopted and the things which should not be. The author has made the situation clear for everybody regarding the factors that become the cause of the quality of the life. The people living in different country think differently. The author has made it possible to take the assistance of various sorts of research as well, like he has included various sources too in the article that are proving his point of view true.

Introductory Speech – Jenny: The Swaffer Hut

Introduction

1. I have met Swaffer Hut that is really a comparable thing to spend time with just like my friend Jenny.
2. The comparison that I am going to make with both of them is very necessary they have something in common.
3. The main point that is found in them is the similarities that both of them have. There are many ways through which, we can compare them with each other.
4. There are many points that create the similarities between them, and they are discussed in a sequence. First, I will like to say that just like Jenny the Swaffer hut makes you feel secure every time. Second, Jenny puts off new clothes and remains in touch with the latest fashion; same is the case with the Hut that always seems to be fresh and new as compared to others. Third, Jenny do not leave you alone and stays with you like a companion till the time the problem is solved , and the Swaffer Hut has the same quality.
5. First main point: Jenny is not like some girls, who do not have the skill to face the others. If she or you are on the right side, she will try to defend you.
6. We have to face a number of those people, who might want to take your right and to use it for their own purposes. There must be some persons, who could stop them from doing so. The Swaffer Hut having the same ability protects you every time just like Jenny.
7. Jenny knows what to do when people are overreacting to you and you need to avoid them, and the Swaffer Hut has been the efficient choice when people are coming to your ways having bad intentions, and you need something to make you feel safe and secure.
8. Second main point: Following the new trends and remains fit and fresh is the habit of Jenny. The Swaffer Hut remains new and people like to spend time with it.
9. People will like to be with someone who is wearing new clothes and understands the fashion. The Swaffer Hut never gets older from every point.
10. It gives attractive smell when you are standing with it. Jenny is a fashionable girl who knows it and puts on highly fashionable clothes.
11. Third main point: The third main point that made me think about the similarities was the ability to face the natural and emotional hardships.
12. Jenny never leaves you in the lurch and if you are emotionally damaged, she provides you the metal tranquility, and whenever you are in the Hut, you are going get the peace and the sense of the tranquility.
13. Jenny is always ready to keep you out of the natural hardships as well and being under the Hut everything is going to be fine no matter what is happening in the outside world.

Conclusion

So now you are better able to determine who she really is. If at the beginning, you thought you do not know her, now you can really say that the Swaffer Hut is a house where you feel comfortable and get the peace of mind, just like the time spent with her.

1. Now you are somewhat in a better condition to understand why I compared her with the Swaffer Hut.
2. First the ability to tackle the bad people, following the fashion, and the last similarity that was found in both of them was the peace that one finds against the natural as well as the emotional hardships.
3. The Swaffer Hut is like a house, while Jenny is a girl, nice to spend time with, both of them have common similarities.

Environmental Protection Situations

1. A) You own an independent auto repair shop and are trying to safely dispose of a few old batteries each week. (Your battery supplier is an auto parts supplier who refuses to take your old batteries).

First of all, it is much better to dispose of the batteries rather to even think to make them in use after recycling, especially if the remnants of the batteries will be dangerous for the people. It is to be made sure that the proper measures have been taken in this regard then the disposing of is much better. If the current suppliers are not ready to take the batteries, there will be others who will be helping the business in taking and getting the batteries disposed. Now, the very first thing that a business can do in this situation is that it should read the rules and the regulations of the Environmental Protection Agency, which will clearly describe the proper ways of disposing of any the material. Furthermore, the business can perform this duty with the assistance of the experts, who deal with the batteries and the material in it like the lead.

1. B) You are manager of a large retailer responsible for disposal of thousands of used batteries every day.

Being a manager, it is my responsibility to make sure that the dangerous material in the used batteries has been made harmless from every perspective. The used batteries and their after usage treatment are better to done in places which are far away from the human beings. The chemical might lead towards a number of physical problems to the people. I have the power and with that the level of the responsibility also increases. I will make sure that the persons who are working under me are following the rules and the regulations formed in the regard of the disposal of the used batteries. Furthermore, the better decision in this regard is to dispose of the batteries rather to recycle it, which is really complex and difficult procedure to be done. It will be the first and foremost responsibility of mine to make sure that the effects that might create during the time of disposing of are really lesser for the human beings living nearby.

EBay strategy

EBay is the online auction company that is really famous for its communication strategy. There are numerous factors that have strengthened it and one of them is the exchange of the ideas that one employee can make with the other employees or the management. Furthermore, the management of the business has maintained its presence all around the world with the use of the internet, which is the reason for the expansion of the views of the people from part to another part of the world. The reason for the increment in its revenue, which is more than 8.5 billion dollar, is that it has all the facilities that the people want to be found in an online auction website. It is users’ friendly and is really easy to use.