Barriers to entry

In the theory of competition in the field of economics, barriers to entry refer to the obstacles that a firm faces in entering a certain market. Barriers to entry are made to block prospective competitors from entering a market valuably. These are designed to protect or secure the monopoly power of the present and existing firms in a market hence maintaining monopoly gains or profits in the long run.Barriers to entry are an incumbent firm’s source of pricing power since it gives a firm such capability to raise or increase their prices without losing their customers. There are many forms of barriers to entry into market. One of the more known and important barriers to entry are government regulations. Through such regulations entry in one’s market may be more difficult or even impossible. There are other extreme cases where the government make competition unlawful hence creating a statutory monopoly in the country.This type of barrier can be in the form of permits, licen ses or tariffs that in turn raises the investment required in entering a market thus establishing an efficient barrier to entry. Another type of barrier to entry is marketing or advertising. By spending greatly on advertising that new firms find difficult to do, present or incumbent firms, make it hard for new entrants to penetrate the market. Sunk cost, is another form of barrier to entry. Sunk costs are costs that a firm cannot recover once it decides to leave the industry.In turn, sunk costs strengthen the risk and discourage entry for new firms. Research and development can also be a barrier to entry in a market. Strong spending by one firm on its research and development can be a great restriction to potential competitors to a certain industry. Concentrated research by incumbent firms makes them more competitive in the industry thus giving them edge and structural advantage over prospective competitors. Barriers to entry indeed limit competition in an industry or market.There a re several more barriers to entry such as control of resources, distributor agreements, and economy of scale, investment, intellectual property, supplier agreements, predatory pricing, and a lot more. All of these are hindrances that new firms may encounter when trying to penetrate a market or industry. Works Cited Geroski, Paul. Barriers to Entry and Strategic Competition (Fundamentals of Pure and Applied Economics). New York: Routledge, 1990. Print.

Gay Marriage Speech

Gay Marriage Speech What comes to mind when you hear the word marriage? Is it the big wedding? The white dress? The rings? The kiss? The repeating of vows? Or is it the stress of making It all happen? Marriage Is a special moment in our lives. Fora lot of us marriage is a major milestone, a transformation In Identity to being a married person rather than single. But on top of all this, marriage is an important legal status. Nothing says â€Å"love and commitment† like the word marriage.It is essential to know that there are two kinds of marriage ceremonies: Civil and Religious marriage. A civil marriage is arriage performed by a government official and not a religious organization. Clvll marriage covers inheritance rights, property rights, the right to visit one another in the hospital, the conveying of benefits etc. Then there is Religious marriage; this is interpreted by each religious group differently, but is usually conducted in a church, chapel or temple.Everyone wants t o find love; to be In a serious relationship made up of trust and commitment. whether your sexual orientation be straight, gay, lesbian or bisexual. Though the rights to marry isnt equal for homosexual couples as it is for heterosexual couples. Some of the main and most important reasons people choose to ban homosexual marriage Is because they are homophobic and/or think It Is morally and biologically wrong for the human being and society. People with homophobia have an extreme and irrational aversion to homosexuality and homosexual people.Opinionated outlooks directed at homosexuals often branch from the perception that homosexual activity Is Immoral. Homophobia makes some people think that they are superior to homosexuals. In fact. studies show that antl- gay bias is far more accepted among large numbers of Americans than is bias gainst other minorities. Majority of the people who think that Gay marriage is â€Å"morally† wrong are religious. They study the words of the bib le, and feel that being gay Is a sin and will prevent you from being able to enter Into heaven.From King James' Version of the Bible, in Leviticus 20:13: â€Å"If a man also lie with a mankind, as he lieth with a woman, both of them have committed an abomination: they shall surely be put to death, their blood shall be upon them† Another piece of scripture implying that being gay is a sin Is In the New Testaments, I Corinthians 6:9-11 Know ye, not hat the unrighteous shall not inherit the Kingdoms of God? Be not deceived: neither fornicators, nor idolaters, nor adulterers, nor effeminate, nor abusers of themselves with mankind, nor covetous, nor drunkards, nor revilers, nor extrotioners, shall inherit In the kingdom of God. Meaning that people who commit sexual Intercourse out of marriage, who worship Idols other than god, who cheat, who have characteristics of a woman or unmanly(gay), who abuse, who are Jealous, who are habitually drunk, who verbally abuse and blackmail/steal will not go to heaven. This scripture basically lists he sin of homosexuality as one of the specific sins that will literally keep you from being able to enter Into heaven when you die and cross over. With marriage comes the hopes and dreams of having children and starting a family.This is where anti- gays feel that accepting gay marriage would be â€Å"biologically† wrong to society. Same ‘OF3 sex Intercourse wlll not nelp wltn tne reproauctlon 0T any Inalvlaual. Its more a way for gay promiscuity to increase. Consequently, if no off springs will be produced, and if gay marriage were to be legalized throughout the world we'll lead to a fail in opulation and to increase in elderly individuals, similar to what is happening in Japan. Yet in the Netherlands, Belgium, Canda, Spain, South Africa, Norway, Sweden, Portugal, Iceland and Argentina, gay marriage was granted between the years 2001-2010.In These countries and all over the world there are people who support gay mar riage and there are people who do not. For instance Mike Judge, from the Christian Institute in the United Kingdom, suggests that the value of marriage will decrease if gay marriage is legalized in the United States as it was in the I-JK. In his ideo he expresses his views on how same-sex marriage would affect â€Å"everybodys† marriage, by using an analogy between opposite sex marriage and gay marriage.He does so by using an American 5 dollar bill symbolizing opposite sex marriage, calling it â€Å"real and genuine , but imagine if a counterfeit 5 dollar bill (symbolizing gay marriage) flooded the US economy. The American 5 dollar bill will continue to be real and genuine, but its value in the economy would be seriously damaged. If the special rights of marriage are given to any other relationship then the special values f marriage will diminish and that is what we've seen In the I-JK. I don't want to see that happening in the United States†, said Mike Judge.But littl e did he know that, that same year when Civil Partnership Act was legalized in the I-JK, Massachusetts legalized same sex marriage, being the first in the United States with 5 other sprawling behind (Connecticut, Iowa, Vermont, New Hampshire and District of Colombia). But is gay marriage really such a bad idea as people might think? Straight and gay are Just the same, they experience the same feelings, emotions and thoughts ust like any other human. So there should clearly be the same rights for people with both kinds of â€Å"sexual preferences†.But should there be? Or should we as people of the world strip these rights from the â€Å"gay' community? Ignoring their rights as a human being? In the United States our forefathers wrote â€Å"that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness† and that we should â€Å"hold these truths to be self-evidentâ € . Clearly the six states that granted gay arriage took this well into consideration and finally made it law.And in the Holy Bible , King James' version, I Peter 2:13-14 says â€Å"Submit yourselves to every ordinance of man for the Lords sake: Whether it be to the king as supreme; or unto governors, as unto them are sent by him for the punishment of evildoers, and for the praise of them that do well. † Meaning that we, the children of God must abide by the rules/ laws set up by higher authority, who are sent by him to punish those who do wrong and to commend those who do right. So the question is, isn't same sex marriage ltimately right since it is now law?

Holiday Sales May Be Frightful Essay

The article â€Å"Holiday Sales May Be Frightful, But Discounts Will Be Delightful† discusses tough holiday season for retailers because Christmas sales are expected to increased up to 4%. Nevertheless, the season is claimed to be soft and sluggish. This season is, actually, slower compared with sales of the previous year. The decrease in sales is explained by macroeconomic problems as, for example, house slump and credit crunches which negatively affect customers. The author cites Niemira who argues that â€Å"a huge worry facing the holiday season is that the home-price decline and housing wealth decline will cut into consumer spending broadly†. I think the article is informative and provides up-to-date information as practically all people are interested in making purchases. It is known that one of the most popular leisure activities in American consumer is shopping. People are ready to spend money on things they are willing to possess, but housing problems make it less affordable for many citizens. All aspects of consumerism are paid thorough attention by marketing workers and economic analysts. I think the author is very logical and unbiased as the author firstly defines the problem and then explains what reasons have led to it. Credit crunch and housing problem, in my opinion, are two the most serious problems. For example, the author says: â€Å"the credit crunch makes it harder for all households, especially low-income families, to refinance and get other credit†. Apparently, the poor have been disproportionately hurt by high fuel prices. I think that the author does sense in his argument and suggestions. Moreover, all his ideas are properly supported by evidence and explanations of analysis and economists.

Final paper Essay Example | Topics and Well Written Essays - 1250 words - 3

Final paper - Essay Example r dehumanisation of the Jews through the environment and the brutal, cold treatment from different groups of people, and though many survivors had the ideology of using one another as means to basic survival, some admirably managed to keep their humanity intact by compartmentalising animal and humane instincts. The book effectively demonstrates that, to win against the Nazis, the Jews did not only fight the daily battles for physical survival in Auschwitz, but, more importantly, they fought the war for the survival of their humanity. The temporal setting reflects the inhumane conditions of the Jews through the Nazis who used the environment to maximise the torture they could inflict on them. The transportation to the camp itself was agonising enough to kill many. Without food, water, warmth, and enough physical space, Levi captures the first stage of the machine of destruction- to die by natural means through unnatural uses of environmental conditions.2 He narrates how, in the trains, â€Å"†¦men, women and children [were] pressed together without pity, like cheap merchandise, for a journey towards nothingness, a journey down there, towards the bottom.†3 The inclusion of women and children in the same circumstances indicated how the Nazis perpetuated anti-Semitic ideology that judged the Jews’ inferiority as innate, even women and children were not spared. One of the greatest enemies in the Holocaust was not only the Nazis, but the severe environment. Even in summer, Buna was not better, excep t it was not so cold. Levi takes pains depicting Buna as â€Å"desperately and essentially opaque and gray,† a â€Å"negation of beauty,†4 while Carbide Tower was compared to the Tower of Babel because inhabitants had 15 to 20 languages.5 These descriptions prove that the centralised aspect of the annihilation of the Jews included their assignment in unrelenting environments that killed them physically and mentally. Removed from their comfortable civilised stations in life,

Practical Applications and Recommendations, Part 4 Assignment

Practical Applications and Recommendations, Part 4 - Assignment Example Irrespective of the assessment employed, the main aim is to have effective ways of making sure that students are evaluated in order to establish their cognitive capability. The following paper aims at providing a comparison and contrast of traditional and alternative assessments. In addition, the paper proposes three ways new advances in computer and Web technologies would benefit K-12 assessment whilst highlighting a way related to assessments. This discussion also proposes applications and practical applications to assessment of special populations. Lastly, whilst providing a rationale, the paper attempts to develop a survey tool having at least ten items, with each item having a Liket scale of 1 to 5. The paper provides a conclusion, which identifies the main points of the discussion. Comparison between Traditional and Alternative Assessments The mostly extensively used traditional assessment tools in evaluating students are multiple-choice tests. In addition, traditional assessme nt tools always assume that knowledge has a universal meaning hence is applicable in all sectors and learners (David, 2009). Another feature of traditional assessment tools is that they always treat learning as passive where learners only sit down and obtain information from their instructors. Many traditional assessment tools test cognitive abilities differently from affective as well as aonative abilities (Bocij and Greasley, 1999). Surprisingly, traditional assessment tools also view learning process as an individual aspect hence learners will be evaluated independently. On a different perspective, alternative assessments have been employed in respect to overcoming flaws experienced within traditional assessments (Mary, Janet, & Troy, 1999). Alternative assessments tools have specific features that include treating learning as an active process, basis the process of learning on inquiry, looking at the learning process as collaborative, as well as the fact that alternative assessm ent tools place adequate emphasis on product and process (David, 2009). As both product and process, alternative assessment tools have since concentrated in identifying specific facts or skills concerning the learners in question. In this perspective, traditional assessment tool differs greatly from alternative assessment tools. Computers and Web Technologies on K-12 Assessments Computers and Web technologies are changing various aspects of education. Through computers and Web technologies evaluation has changed significantly. Firstly, there has been a possibility of assessing or evaluating learners from a wide perspective or spectrum (Mary, Janet, & Troy, 1999). Computer and Web technologies have the tools required in assessing students based on different tests. Secondly, another way through which computers and Web technologies will benefit K-12 assessments is the fact that it will enhance efficiency and effectiveness. Efficiency and effectiveness is an important aspect within asse ssment (Schneberger, Donald, & Durfee, 2007). Evaluation within K-12 is important given that it is used to identify and understand the cognitive ability of students. With increased efficiency and effectiveness, evaluation within K

Early christians Essay Example | Topics and Well Written Essays - 250 words

Early christians - Essay Example The creation of Islamic territories through the expansion of the Arab Empire enhanced the rapid spread of the Islam globally (Goddard, 1995). The region spoke a single language with the Arab missionaries enhancing the spread of both the Arab language and the culture, Sufis who were among the main missionaries in the religion interacted with the local population thereby teaching them about the faith. The spread of the Ottoman Empire coupled with the infusion of Islam in economic activities enhanced the rapid spread of the religion. In short, Islam spread rapidly since it occurred holistically. The spread of the Arab empire introduced new economic systems in the region. As the people engaged in trading, they traded the Islamic values. Such was not the case with Christianity. Christianity coexisted with secular states and remained limited to particular dictates of the faith. Furthermore, some dictates of the religion subjected the people to exploitation thereby causing major resistance to the spread of the faith and later enhanced the formation of the

Creating Job Descriptions and Interview Questions Essay

Creating Job Descriptions and Interview Questions - Essay Example The HR Director would be the one who will oversee all HR related tasks within the organization as his decisions would be in line with how the organization views the entire dictum of recruiting, selecting, and eventually firing the employees. The HR Director would report to the top management about the steps that have been undertaken by the HR department and apprise them of the gradual and incremental shifts that have been coming about within the organization from time to time. He would also be reporting to the CEO of the company as regards to the fiscal measures and thus tell him how the company would meet its goals and objectives that are being seen through the eyes of the most prized resources within the organization, i.e. the employees themselves. The HR Director would also form up plans and later on execute them for best possible mileage of the organization. It would mean that the shortcomings with the HR domains are taken care of in a proactive way and the strengths are cashed u pon in an amiable manner as well. The HR Director would oversee the tasks of the HR manager and his team while finding solutions to keep them encouraged at all times (Sims, 2002). Overall, the HR Director will also play a significant role at liaising between the employees that are under his aegis, forming links of interaction and communication amongst them, and finding the reasons behind low employee morale. He will have a proactive eye on the falling standards of work conditions, and find a way to resolve the same. The HR Director will give his best within the HR domains on a regular basis and would be confident at all times. The HR Director would therefore play a very active role at forming serious links with the employees, and be present regularly at his office to set a personal example within the organization. 2. Create 10 questions that you can use to interview candidates for the position of HRM director at the company. The questions should include probes for additional informa tion and desired responses. 1. Are you at complete understanding with how the HR policies change because our organization is a proactive one and wants to move towards newer pastures with the passing times? Would you go an extra mile to learn something new, considering you are getting hired for the HR Director post? 2. Would you be able to work in the form of a team that achieves its objectives in accordance with the work realms of one another or are you someone who believes in one-man-show for the sake of displaying authority and control? What is the reason behind being one of the two? 3. How closely in touch are you with the technological facets and realms? Have you had any computer and IT courses of late that could make you a better choice for the post of HR Director at this organization? 4. This job requires you to visit outdoor locations and to travel far and wide. Are you open to such an offer because the hiring and selecting regimes require the aspirants to be interviewed firs t hand before the HR department decides to hire them or otherwise? 5. What would it take to make your mark on the organizational philosophy that has come about of age with the passage of time? Would you go out of your way to make sure that the organization is your top most priority in professional terms? 6. Would you be open to a salary cut if and when the need arises? In times of today, this is a serious undertaking on the part of the organization and you should be ready for it to happen

Financial services ( Derivatives ) Essay Example | Topics and Well Written Essays - 1750 words

Financial services ( Derivatives ) - Essay Example In United Kingdom, derivatives can be traded by two methods: either through an over-the-counter (OTC) or organised exchange. The exchange traded derivatives market is controlled by Chicago Mercantile Exchange and Euronext.LIFFE that is based in London. Exchange traded derivatives are always bought and sold in an exchange setting that is totally regulated and transparent. On the other hand, OTC exchanges takes place when trader prefer to trade directly with each other. Between both types of trade, there are two main differences: Firstly, exchange traded contracts increases liquidity. Secondly, traders enter into a contract through the exchange clearing house which gives them a guarantee that the contract will be adhered to. Over-the-counter trade do not have that lavishness because there is always the risk that one of the contractors will fail to honour the original agreement thereby going into liquidation (Reid, 2013, p.1). This paper will focus on the list of bank and companies maki ng losses from using derivatives and what are the risks and benefits of different types of derivatives contracts. Bank and Companies Exposed to Losses There are some banks and companies which are exposed to losses due to derivative contracts. ... The financial disorder with its rigorous liquidity and credit crunch seemed to detain to financial markets and institutions in the UK. It resulted in the failure of the key businesses, downturn in the economic activity and reveals a quick drying up of liquidity following a huge expansion in credit issued to consumers and financial institutions. Metallgesellschaft AG engaged in a wide range of activities from engineering to trade and mining and financial services. The firm was exposed to large derivatives related losses at its U.S. oil subsidiary which is known as Metallgesellschaft Refining and Marketing. It had accounted a loss of $1 billion. Metallgesellschaft AG losses were attributed to its wrong hedging program. Risk of Derivative Contracts Risks associated with derivatives are market risk, credit risk, counterparty credit risk, transparency risk, legal risk and basis risk. Counterparty Credit Risk It is the risk that a party to a derivative contract will be ineffective to perfo rm on its obligation. AIG tinted weakness in the supervision of counterparty risk and thus less clearable, OTC derivatives. AIG’s counterparties had decided to only require collateral to cover counterparty risk of American International Group if AIG were downgraded. When American International Group did experience the difficulties simultaneous liquidity squeeze and collateral calls at AIG resulted in its ultimate bail-out to evade systemic outcome. Posting to collateral either through upfront margins or mark-to-market margins is used to minimise counterparty risk to which they are exposed (Fsa, 2009, p.5). Transparency Risk The bankruptcy of Lehman Brothers tinted that positions and disclosure of firms in OTC derivative market were

Economic Impact of the Olympic Games Coursework

Economic Impact of the Olympic Games - Coursework Example Thus this study contains a detailed economic analysis of the host country's economic activities that are directly and indirectly attributable to the conduct of Olympic Games. The study demonstrates that the economic benefits of the Olympic Games can be influenced by government policies and both the government and the business community would focus their efforts on strategic policies and initiatives in order to maximize the long term gains to the host country in particular (Kirkup, 2006). However it's the aggregate demand and supply shift that matters so much in this analysis. Thus the long term impacts of the Olympic Games on the host country's economy include, Olympic Games can be identified in three phases such as, the pre-games phase, the games duration and the post-games phase (Caimbridge, 1998). In the first phase it is characterized by two different impacts which are associated with Olympic Games, such as the construction and associated infrastructure of the Games site. And in the duration of Olympic Games there would be a significant increase in international visitors to the host country in particular. During the post-games phase there would be a significant improvement in inbound tourism in the host country. As with the past experience of countries like China, Canada and others, it has been recognized that there would be an increase in labor productivity in the post-games period though its real impact on the domestic economy is uncertain (Bing, 2002). With the Olympic Games it would increase aggregate demand through construction activity, additional tourism, sales and Olympic Games related outputs e.g. export of the Olympic televis ion rights, Olympic promotion and ticket sales and so on.A significant number of factors have been identified in relation to the micro economic impacts of Olympic Games, such as conditions in the labor market. e.g. wage rates and the sources of Finance. e.g. price changes. As a result of the Games the Gross Domestic Product (GDP) and additional jobs would increase in the year of Olympic Games (Holger, 2004). These jobs are identified as part-time and full-time jobs and people would easy to find the works in such Game periods. As such, it would boost the productivity of labor and wages rates would increased due to the Olympic related construction and projects. There is also a significant increase in outcomes of the service industry including transport and communication, finance, housing sector, tourism and so on (Peter, 2005). Foreign exchange rates can be affected by the Olympic Games because when the exchange rates increase potential foreign investors would buy the domestic currenc y

African Americans and the New South Essay Example | Topics and Well Written Essays - 1000 words

African Americans and the New South - Essay Example America,as it was preparing to enter the 20th Century, was experiencing rapid change.The Civil War was over,reconstruction was complete and the nation had seen unequaled leaps of technology and industrial advancement in the last several decades of the 19th century.Wells took a radical stance is his position.He blamed the African American as much as the White population for perpetuating the inequality still remaining in the south.The violence and its increasing frequency and spread both west and north were in his mind precursors of what was to follow if African Americans sat quietly by and let it occur.Although he stopped short of an outright revolution,in his mind words alone would not bring about a change.The only people African Americans could rely on were themselves. Through meeting the violence and hatred head on was the only solution available. Although not standing by and letting the rest of the nation dictate what was best for African American people, Wells view was, in my opi nion, much to extreme and would alienate the supporters for Black equality among the general population. The extremist views, although not negating the horrors of lynching, would do more harm than good in drawing attention away from the brutality and focusing it on perceived hatred for Whites.Booker T. Washington's views stated that the newly won freedom from slavery brought with it desires to achieve immediate positions of power and importance. However, as natural as the tendency was to desire this, Washington stated that the initial joy of new found freedom was over and the work was truly to begin. This work was not found in African Americans seeking to make a new life elsewhere, nor was it in southern industry looking to the hordes of immigrants entering the United States. Instead Washington tells us to "cast down your bucket where you are." (38) His view expresses that white and black southern America are intertwined in their history, both knowing the other's strengths and weakn esses and working together was a business that lead to prosperity for both. The biggest mistakes African Americans could make, in his view, is expecting too much, too soon. He stresses that the important issues to improve the state of Black America is education and working hard at doing the best job possible, no matter your position in life. The attainment of higher things is found in the ability to start from where you are and work towards improvement through education, learning and reliance on one another. The last area that Washington stresses is the separation of Blacks and Whites socially. He uses, quite well, the metaphor of the hand and the fingers - connected yet separate. "In all things that are purely social we can be as separate as the fingers, yet one as the hand in all things essential to mutual progress". (39) He proposes a business proposition that through mutual hard work and cooperation each race will grow and prosper as a united front. His position is logical and pragmatic not based on emotion but on a mutually beneficial business partnership. However, he warns us that if both continue on the path of exclusion and complaint the result will be ruinous for both races an almost implied threat. Turner offers a position totally opposed to Washington, whom he refers to, if not by name by his stance, when he states "that any black who claimed that African Americans did not want social equality immediately "is either an ignoramus, or is an advocate of the perpetual servility and degradation of his race" (42). Turner opens with what appears to be disdain for Black Americans when he opposes the notion that

The History of Cell Theory in the Last 200 Years Essay Example for Free

The History of Cell Theory in the Last 200 Years Essay The last two centuries present significant advancement in the study of cell development in biological science since the term was first coined by Robert Hooke in 1665. Although Hooke first observed the presence of cells in matters it was Jean Baptiste De Lamarck (1744 1829), a French scientist, who initiated early steps in recognizing the concept of the cell as a biological element in living things while carrying out extensive works in evolution and classifications in the animal kingdom. This is similar to the Rene Dutrochet’s pronouncement in 1824 that the structure of a living body’s fundamental elements is the cell, created through the process called juxtaposition or combination, producing both animals and plant forms. Several assumptions followed which serves as basis for the modern cell theory including Ludolph Christian Treviranus’s (1779-1864) proposition that a cell can be further separated into even smaller components by its intracellular space or individual units comprising the cell itself particularly in plants. Building on this concept, Robert Brown (1773-1858) published a paper naming one of these units â€Å"cell nucleus† in 1883. Although scientifically accepted as fact today, Brown together with Bauer, at that time, never thought the idea of cell nucleus to be universally present in all living things and limit the concept to monocotyledons (also called monocots), one of the major groups of angiosperms or flowering plants. Amidst the numerous assumptions and differing opinions of their times three names excel in the field of cell science: Theodor Schwann (1810-1882), Matthias Jakob Schleiden (1804-1881) and Rudolf Virchow (1821-1902). Schwann discovered what is called Schwann cell or neurolemnocytes, glial cells supplying vitality to peripheral nerve fibers. Together with Schleiden they concluded that all living things are composed of cells and published their findings in a paper called Microscopic Investigations on the Accordance in the Structure and Growth of Plants and Animals. Almost their contemporary, Virchow further improved the idea into a wider and more scientific scale stating that cells come from cells of the same kind, refuting the theory of Spontaneous Generation. Virchow was also one of the very first scientists to apply existing cell theories together with findings he himself formulated in medicine that led to the discovery of leukemia cells and a deeper understanding of lung cancer and other deceases related to cell formation and their behavior. In 1855, Virchow states that cells replicate through the process called â€Å"cell division†. Together, Schwann, Schleiden and Virchow are the three considered to be the key figures and originator of the basis for the concepts of modern Cell Theory. Development in the Cell Theory in the 1900’s is not as numerous as that of the 1700’s and 1800’s. One discovery, however, worth mentioning is the finding made by James D. Watson and Francis Crick regarding the double-helix structure for DNA in the 1953. 2. Membranous Organelles of Eukaryotic Cells †¢ Chloroplast (plastid). Chloroplasts are present in eukaryotic a cell which main function is to capture light energy to conserve free energy in the form of ATP moderating Nicotinamide Adenine Dinucleotide Phosphate (NADP) and requires NADPH as a reductant in a reduction-oxidation (redox) reaction. †¢ Endoplasmic Reticulum (ER) forms the network of tubules, vesicles and cisternae in cells necessary for protein synthesis ( the process where cells proteins), protein folding and transport, secretion or exocytosed, and manufacture and storage of glycogen, steroids and macromolecules. †¢ Golgi Apparatus or Golgi Complex deals with the processing of proteins and lipids after synthesis before transporting (e. g. secretion) †¢ Mitochondrion generates the cell’s energy (i. e. chemical energy) and produce majority of its Adenosine Triphosphate (ATP) †¢ Vacuole is an enclosed water filled compartment within a cell containing enzymes and various natural and inorganic molecules. †¢ Nucleus contains majority of the cell’s genetic materials organized in a multiple long linear Deoxyribonucleic acid (DNA). It is considered to be the cell’s control center. 3. Methods in Molecular Exchange †¢ Diffusion. Diffusion balances the degree of concentration of molecules from a region with higher concentration to a region with lower concentration as a reaction to thermal motion. It plays a vital role in the distribution of oxygen, nutrients and other molecules across the capillary walls and across membranes. An diffusion equilibrium is said to be attained when the amount of molecule between two regions are equal and no diffusion movement occurs, or the net flux is at zero rate. The degree of concentration, temperature, and room affects the direction and extent of net flux related to the process. †¢ Endocytosis. Endocytosis takes place when cells suck up molecules from the outside of the cell by swallowing it up using their cell membrane. †¢ Exocytosis. Exocytosis is the reverse process of endocytosis where a cell releases the contents accumulated by the secretory vesicles out of the cell membrane. 4. Catalyst and Enzyme Catalysts are substances that make a chemical reaction faster than its normal rate. Catalysts inhibit changes in matters acted upon (substrate) but remain unchanged on the final output of the reaction (end product). Enzymes are types of catalyst that are almost always in protein form and are used in biochemical (living) reactions. 5. Enzyme-Controlled Reaction During an enzyme-controlled reaction, the enzyme’s key portion called â€Å"active site† interacts with the substrate. The substrate begins reacting to the enzyme entering a stress state. Upon reaching the necessary stress rate, the substrate changes in form or state (or both) producing the end product. The resulting end product is said to â€Å"drift away† and the enzyme is then free to perform the same procedure in the chemical reaction until no reactible substance is left, concluding the process. 6. Enzymes, Coenzymes and Vitamins The primary function of vitamins in living organisms is to serve as cofactors for chemical reactions involving enzymes. Although a cofactor is a non-protein chemical compound, cofactors are tied to a protein and is necessary for proteins to perform its biological functions. These types of proteins are almost always a kind of enzyme and cofactors can be thought as of â€Å"helpers† in performing its transformation. Vitamins or derivatives of vitamins make up an organic cofactor. 7. Chemosynthesis is the process by which organisms generate their own energy through chemical reaction rather than sunlight. This process converts carbon substances and nutrients into organic form (hydrocarbon) by oxidation as an energy source. 8. In the process called Glycolysis, requires two ATP’s to break down glucose into phosphoglyceraldehyde (2 PGAL). In the 2nd stage of glycolysis, the 2 PGAL’s are then broken into 2 pyruvates. This stage produces 4 ATP’s and 2 NADH’s. The net ATP production is 2 ATP’s as in the same case with the Krebs Cycle. 9. Stages in Photosynthesis The process of photosynthesis starts with the accumulation of substances needed by the process. These substances are carbon dioxide (CO2), water (H2O) and, of course, sunlight to be processed in the leaf’s chloroplasts. Sunlight then is converted into an energy form called ATP and NADPH. The sunlight absorbed through the stomata follows as certain chain of processing and results in the production of ATP, NADPH and oxygen. This process is called light reaction. Utilizing the ATP and NADPH, carbon dioxide is then converted into sugar. The resulting sugar is then broken down into two molecules called glucose and fructose, molecules that make up sucrose and sugar. The process is called dark reaction. 10. Assuming Photosynthesis I and Photosynthesis II refers to Light Reaction and Dark reactions: During light reactions electrons react as light strikes the chlorophyll. This results to the formation of ATP and NADPH. Also, water undergoes chemical reaction splitting oxygen and hydrogen. Carbon dioxide is accumulated from the atmosphere, hydrogen is added producing carbohydrates. This process is called carbon fixation. In the case of dark reactions, carbon dioxide is accumulated by a 5-C chemical called ribulose biphosphate (RuBP). Six molecules of carbon dioxide go in the Calvin Cycle, creating a glucose molecule. TP and NADPH created is used to attach phosphates into the PGA. Residual PGAL molecules are converted to reform 6 molecules of RuBP repeating the cycle again. REFERENCES Enger, E. D. , Ross, F. C. , Bailey, D. B. (2009). Concepts in biology (13th ed. ). New York: McGraw-Hill. Turner W. (January 1890). The Cell Theory, Past and Present BIOS 100 Lecture Material Online. Fall 2004. Glycolysis, Krebs Cycle, and other Energy-Releasing Pathways. May 15, 2009. http://www. bio. miami. edu/~cmallery/255/255hist/cell_theory. htm

Commercialization of Beauty Essay Example for Free

Commercialization of Beauty Essay To help with any queries you may have about the examination, I have written some guidelines below. You will have had experience preparing exam questions in your review sessions. The following document provides some further hints and tips, with some sample questions at the end. I have also attached a document with questions from January and Resit last year, with an outline of what the answer should contain. What do I have to do? In the examination, you will be asked to select three questions to answer from a choice of six. Very broadly, these areas might be taken from the nine major sections listed in the course outline as below. 3) Marketing to Consumers Consumer Behaviour * Why is customer analysis an important component of strategic marketing management? Making reference to a company of your choice suggest TWO models that can be used in undertaking such an analysis. * With reference to models and products of your choice, describe both the Consumer Buying Process and four common types of behaviour that consumer’s exhibit. * Explain, using examples, how marketers try to influence consumers at the different stages of the consumer decision process. 5) Product Strategy, Brand Management * Describe and discuss each of the key stages involved in new product development and explain why innovation is a key marketing strategy for organisations today. * What is the Boston share/growth matrix? [30] In turn, give an example  product for each of the four boxes and describe the marketing implications. [70] * What is a positioning map and how are they useful to marketers? [50] For an industry of your choice draw an example of a positioning map with at least 6 product/brands located on it according to appropriate criteria with comments on the strengths and weaknesses of each location. [50] * Assess the advantages and disadvantages of brand extensions. Use appropriate examples to illustrate your answer. * Examine the components of effective brand positioning, illustrating your answer with examples of well-positioned brands and poorly positioned ones. 6) Pricing Strategy * Discuss the following strategy using pricing theories and concepts from the course: The only reason that companies set low prices is that their products are undifferentiated. * List and explain the keys mistakes a strategic marketer could make when setting the price of a good or service. * You have been asked by a company specialising in consumer electronics about the pricing of a new product about to be launched. Describe the factors that the company should consider in setting the price of their new product. * Discuss how pricing should play a strategic rather than a tactical role for an organisation. Use relevant industry examples to illustrate your answer. 7) Distribution Strategy * Marketing channel issues are amongst the most important decisions that  management faces. To what extent do you agree with this statement? * Why might a supply channel become disintermediated? 8) Promotions Strategy, Marketing Communications * Advertising is the most obvious form of promotion. Using examples, describe at least three other forms of promotional activity. * Identify and discuss the key strategic actions marketers must take to ensure Integrated Marketing Communications are successful. * Different advertising campaigns can have different objectives. With reference to recent examples, list and discuss four different types of objective. * There are five main promotional tools. Define each and use examples to illustrate their potential usefulness. 9) Services Marketing * Using strategic marketing theories and concepts, state whether you agree or disagree with the following statement: â€Å"Creating marketing strategies for services is no different to the marketing of goods†. * Discuss the extended marketing mix used for services. Why are these useful, given the characteristics of services? Below are listed the exam questions and outline answers for a previous January examination and Resit. The outline answers are produced so that the external examiner and markers have a good idea about what the answer should contain. However, to achieve top marks (70+) you would need to include these points in a coherent argument, aided by relevant examples and context. Resit 2012 1) What are the four distinguishing characteristics of services marketing? What challenges do these present to the formulation of marketing strategy and implementation? Answers should define what is meant by a service: a provider/client interaction that creates and captures value. Definitions such as â€Å"Deeds, processes, performances† (Zeithaml Bitner, 1996); â€Å"An activity or series of activities†¦ provided as solution to customer problems†(Gronroos, 2000); may be used. The four distinguishing characteristics of services marketing will be defined as: Intangible (as opposed to tangible goods): The implication of this is that services cannot be inventoried, or easily patented. They may therefore be easier to copy, and gaining real competitive advantage may be more difficult. Services cannot be readily displayed or communicated- this raises issues in terms of the promotional strategy and message designs that can be used. Airlines may emphasise the relaxation of being on board as the actual process of travel is more difficult to represent, and might be more problematic when communicating the company’s positioning strategy. Intangibility also makes pricing more difficult. With goods, a differentiation focus and premium pricing strategy may be clearly identified by the consumer through the tangible attributes of the products and the difference in quality. The quality of a set of accounts, or a medical procedure may be less tangible, and therefore high prices may need to be supported by other aspects of the strategy and marketing management process. The extended marketing mix, such as physical evidence may be helped to signal quality to consumers. Heterogeneous (as opposed to standardized): Service delivery and customer satisfaction depend on employee and customer actions. Therefore plans for marketing strategy and implementation cannot be guaranteed in the same way as for products. Service quality depends on many uncontrollable factors. There is no sure knowledge that the service delivered matches what was planned and promoted. The extended marketing mix, particularly the planning  of the ‘process’ may be to alleviate problems of standardization. Some companies such as McDonalds have tried to implement a standardized service experience. This may only be appropriate for some sectors however. For luxury services or professional services, the heterogeneous and client-specific exchange may be part of the value of the service. Companies will need to carefully monitor and control implementation. Simultaneous production and consumption – customers participate in and affect the transaction, and each other. Employees also affect the service outcome. Decentralisation may be essential. Mass production is difficult. Because services depend critically on the co-production relationship, it is very important that the service contract spell out mutual responsibilities and expectations. A significant percentage of service engagements (estimates range from 10-50 percent) do not meet the clients or providers expectations, resulting in poor performance and low satisfaction, and, therefore, in less value created and captured than anticipated. This gap is an opportunity for services innovation that will improve returns, performance and satisfaction. The training and management of people, another aspect of the extended marketing mix, may help the control and implementation of strategy in this respect. Perishability (as opposed to non-perishable)- It’s difficult to synchronise supply and demand. For many services, demand may be affected by geographical location, seasons, timing etc. Marketing management has to try to balance supply and demand, for example through pricing strategies- bundling return journeys or making seasonal promotions to stimulate demand off-peak. In this sense, segmentation, targeting and positioning is of key importance- identifying the value sought by different consumers and managing the marketing mix accordingly. Services cannot be resold or returned, therefore pricing and promotional tactics may be to sell services at cost alone, for example last minute hotel bookings and flights. Considering overheads are fixed, it is better to have costs covered than an empty seat or hotel room. However, these tactics may not integrate effectively with the company’s generic strategy. 2) What marketing strategies and marketing mix decisions are associated with the different phases of the product life cycle? Discuss how the product life cycle can help companies to plan its product portfolio. The concept of the plc should be introduced and how marketers use it to make strategic planning and marketing mix decisions. The four phases should be identified as: Introduction: Characterised by low sales and high cost per customer. There are ways which marketers categorise consumer’s willingness to adopt new products, such as Rogers (1983) seminal work on the adoption of innovation. At this phase the segments which should be indentified and targeted are innovators, who are risk takers and open to new ideas. A similar adoption model is proposed by Moore (1999). His chasm strategy would argue that the early phases should involve techies, to iron out bugs. There are few competitors at this stage, and therefore some advantages may be found in being first to market. Consumers may be willing to pay a premium price for products at the introduction stage, and therefore a market skimming strategy may be adopted. Alternatively depending on product type, a cost-plus or penetration strategy may be appropriate. Promotional strategy will have the objective of raising awareness. Heavy sales promotion may also be used. Distribution is likely to be selective at this phase. Growth: This phase is charaterised by rapidly rising sales, lower average cost per customer, and rising profits. At this phase early adopters will consider purchase. They should be targeted by companies as they tend to be respected opinion leaders in the product field will promote wider adoption through word of mouth. Moore’s (1999) model would propose that visionaries should be targeted to help find competitive advantage and to establish the basis of the appeal for the pragmatists. There will be a growing number of competitors at this phase so marketing management and strategy is likely to reflect this. Extensions, warranty, and service may become more important add-ons to secure competitive advantage. Pricing may be competitor-orientated or for penetration. Efforts should be made to build intensive distribution to try to remain market leader. Promotional efforts will continue to build awareness but in the mass market, rather than targeted at a niche. Maturity: This phase is characterised by peak sales, low cost per customer and high profits. Purchasers will be the early/late majority (or the pragmatists and conservatives). Competition is likely to have stabilized as weaker products are forced out of the market. Strategies at this stage might involve diversifying brands (brand leverage, brand extension) and product line changes (widening, filling, stretching). Prices will most likely be lowered at this stage, possibly to match or beat competitors. Sales promotion may become more prevalent. Generally promotional strategy will be to stress brand differences and encourage brand loyalty. Advertising will try to remind and reinforce the brand. Decline: This phase is characterised by declining sales, and declining profits. Laggards or the skeptics will buy the product now cost and risk is low and most other people have purchased the product. Competition will reduce as company’s divest products in a declining market with declining sales. Strategies at this phase may be to phase out weak items. Prices may be cut. All aspects of the marketing mix might be cut back to reduce costs with efforts made at the level to retain loyalists. The PLC can be used in planning a company’s product portfolio. The ideal is to have products at different phases of the life cycle so that products at the maturity phase can provide profits for investment in the mix for products at the introduction and growth phases. Portfolio planning models like the BCG matrix allow firms to address this, and to make sure they are channelling their efforts into products which have potential for growth (stars and question marks) or profit generation (cash cows). Portfolio planning will also be about phasing out products which do not have a future (dogs). Best answers will emphasise the limitations of the plc model (linearity, not all products ever do into decline). 3) Discuss the main areas an advertising company will consider when given a creative brief. Using examples, explain why a celebrity may be chosen as a  message source. What factors determine the success of a celebrity endorsement? Answers should outline the following areas for a creative brief: Positioning statement- what is the overall positioning of the brand. What are the key brand benefits and brand promise. It could be based on: Features: how the brand delivers its promise; Values and personality: what the brand stands for and signifies, which affects relationship and loyalty; or Key reward: may be based on one of these features, safety, classy personality etc. Proposition: spells out what you want to say: big ideas, strategically central. Potential sources of a proposition are: user characteristics, price, brand image, product service heritage, ways of using the product, comparison with rivals, surprising points etc. What are the specific objectives for the campaign- may be to inform, persuade, remind or reinforce. This should help formulate specific, measurable, achievable, realistic and targeted/timed objectives. Objectives may be to move buyers through readiness stages. Models such as AIDA and Dagmar may be mentioned. Target market- what segments are being targeted. This will impact greatly on the message strategy, creative considerations and media choice. Communication is a transactional process whereby meaning is exchanged through the intentional use of symbols. The firm must encode- reduce the concepts to a set of symbols which the recipient will decode. There must be a shared view of what the symbols mean, a shared field of experience. This will be determined by the target market as well. Message strategy: appeals, themes or ideas that tie into the brand positioning and establish points of parity or points of difference. Rewards may be intrinsic e.g. quality or extrinsic e.g. traditional. Buyers expect one or more of the following rewards: rational, sensory, social or ego  satisfaction Creative structure- how should we express our message: informational (rational, logical, product demo, comparison, testimonials); transformational (non-product related benefit or image, stir up emotions, negative: fear, guilt, shame, positive: humour, love, pride and joy, often use borrowed interest devices- music, provocative images, cute animals etc.). Media choice- Where is the communication(s) going to appear? Media classes (media types such as PR, press, TV- does it reach the chosen audience?); Media vehicles (choice within the chosen class such as the Times or the Sun). How frequently? What impact? What exposure? (Burst- concentrated, Continuity, Pulsing etc.). How much is to be spent? Budget and control measures. Message source- who should express the message? Credibility, celebrity endorsement, modelling. Celebrity endorsement: used extensively. The product or service is given credibility through association with someone the audience trust or aspire to be like. Success depends on having a believable link between the meanings associated with the celebrity and the product; Class, status, gender, age, personality and lifestyle are all part of what the celebrity transfers to the product. Likeability also important; Celebrity credibility is comprised of attractiveness, trustworthiness and expertise. The various endorsements of a celebrity such as Tiger Woods may be used to discuss the effectiveness of this method. 4) Using the purchase of a particular product as an example, describe the decision process model of consumer behaviour. What are the short comings of the model in understanding this purchase? The answer to this question will largely depend on whether the student decides to focus on a high involvement purchase such as a car, or a low involvement purchase such as a can of soft drink. All answer will identify  the 5 stages of the decision process model of consumer behaviour: Problem recognition: consumer’s either recognise a problem or have a need triggered by internal or external stimuli. If the stimulus is internal for example hunger, it may rise to threshold level and become a drive. A need can be aroused by an external stimulus such as seeing a neighbour’s new car may trigger thoughts about buying one yourself. Information search: Sources of information may be personal, commercial, public or experiential. Of the total set of brands available, the consumer will only be aware of a subset called the awareness set. Some brands will meet the initial buying criteria and become part of the consideration set. As the consumer searches for further information, a few brands will form the choice set from which the final choice will be made. The awareness set will depend on whether companies have got themselves noticed. Consumers will then have positioned these according to a hierarchy of attributes- type/price/brand dominant. The car purchaser may decide on brands in the consideration set: audi/BMW/Mercedes. The drink purchaser may decide on type, cola with the options of Pepsi, Coca Cola and Supermarket own-brand. Evaluation- will depend on the need the consumer is satisfying; the benefits they are seeking; and the bundle of attributes that will satisfy this need. Attributes that deliver sought after benefits will vary: for the soft drink it may be taste, price, packaging, for the car it may be safety, performance, price. Expectancy value model assumes consumers arrive at decision about brands through an attribute evaluation procedure, combining brand beliefs, the positives and the negatives according to importance. Decision- the consumer makes the choice of their preferred brand and also decisions about quantity, timing and payment method. The car purchaser may have decided on a BMW but there was a waiting time and no interest-free finance so actually decided on an Audi. The soft drink purchaser discovered Pepsi had a trial price and opted for that. Post purchase behaviour- consumer’s often feel dissonance that stems from noticing disquieting features or hearing unfavourable things about the brand and will be alert to information that supports the purchase decision. No single process is used by all consumers, or by one consumer in all buying  situations. There are several processes which are not necessarily made on the basis of such conscious and rational judgements. Non-compensatory models of decision making using heuristics may be used, depending on brand knowledge, differences among brands and the social context. In reality, the soft drink purchaser is very likely just to choose the Cola brand they have previous experience of, or the one all their friends drink. The elaboration likelihood model would suggest consumers may take a peripheral route for this type of purchase, as they are unlikely to have the motivation for a diligent rational evaluation of alternatives. The consumer could just go straight from problem to decision, or certainly skip stages. This model also ignores other consumer psychology such as variety seeking, which happens in low involvement but significant brand difference sectors. Therefore consumers try Cherry Coke, Coke with Lime etc. purely for variety. A car on the other hand would demand the central route. Perceived risk will vary with the amount of money at stake, the amount of attribute uncertainty and the consumer’s self-confidence. For the purchase of a car, there could be functional, physical, financial, social, psychological and time risk. This uncertainty may lead the customer to postpone the decision, as might unanticipated situational factors, both of which are not included in the decision model. High involvement decisions are more likely to proceed down this central route for purchases that are financially involving, technically complex or have social implications (examples might be cars, mobiles). 5) What are the three key stages of the strategic marketing management process? Explain what activities are undertaken at each stage of the process and why this is so critical to a firm’s long term competitive advantage. Strategic analysis- where are we now? This is concerned with understanding the strategic position of the organisation in terms of its external environment, internal resources and competencies and the expectations and influences of stakeholders. Strategy is the development of long-range plans for the effective management of environmental opportunities and threats  while taking into account the organisation’s strengths and weaknesses. At this stage firms will collect and analyse relevant types of information about environmental forces and trends. This will be on two levels: the macro- for which a PEST analysis may be performed; and the micro- for which the Five Forces model for industry analysis may be used, in addition to analysing other relevant factors such as consumer behaviour and perceptive competitor analysis. The other environment is the internal environment in which a firm will identify its assets, resources and their application to determine where strengths and weaknesses may exist. Models such as a resource audit or value chain are used to collect this information. All relevant environmental analysis is then compiled into SWOT from which the organisation will determine where its future strategy should lie given the major factors and trends identified. This stage is crucial for competitive advantage as market information and intelligence is essential for developing a successful marketing strategy based on and for creating and sustaining competitive advantage is today’s rapidly changing environment. Strategic choice- where do we want to be? This involves understanding the underlying bases guiding future strategy, and generating strategic options for evaluation and selecting from among them. Strategy is decided upon in terms of objectives, financial decisions, segmentation, and positioning. These are the crucial and central decisions in developing a competitive marketing strategy. Based on the SWOT, strategic alternatives may be suggested and a decision needs to be made at corporate and SBU levels. Deciding the the mission and directional strategy and allocating resources will be decided at a corporate level. Portfolio planning models such as the BCG matrix may be used. At the SBU level, a generic strategic orientation (cost leadership, differentiation, focus) will be chosen based on unique competitive advantages. At the functional level, strategists consider decision such as what products to offer. Ansoff’s matrix may be used a tool to choose between the four possible options available to any organisation with regard to product/market strategy. Market segments to target and market position strategy are also decided at this stage, as well as competitive positioning and relationship strategies. Segmentation, targeting and positioning are the cornerstone of marketing strategy and key in developing  a distinctive position in the consumer’s mind, developing brand loyalty and therefore building long term consumer franchise that will help the company defend itself from competitive threats. Strategic implementation- how are we going to get there? This is the translation of strategy into organisational action through organisational structure and design, resource planning, and the management of strategic change. This involves the strategic, rather than tactical planning of product innovation, branding, services, pricing and distribution, marketing communications and emarketing. Some responses may also identify a fourth stage- strategic monitoring and control- did we get there? The importance of monitoring and control in strategic planning. 6) Identify what is meant by Value Chain Analysis. Why would a firm decide to use this analytical tool? Framework developed by Porter (1985) as a way of examining the nature and extent, if any, among the internal activities of a firm. Porter argues every firm is a collection of activities that are performed to design, produce, promote, deliver and support its product. All these activities can be represented in five primary activities and four support activities using a value chain concept. The primary activities of the value chain are inbound logistics, operations, outbound logistics, marketing and sales and services. Support activities are firm infrastructure, human resource management, technology development and procurement. Value chain analysis has been widely used by firms as a means of analysing the internal activities of an organisation. One of the key benefits is the recognition that organisations are much more than a random collection of machines, money and people because these resources have no value unless they are deployed in activities and organised into systems which ensure products and services are produced and valued by the end customer. Firms which produce several products may evaluate several value chains. Examining each  chain and the linkages may allow firms to examine the potential synergies between the value chains of different products. Internal analysis provides a detailed understanding of those aspects of an organisation that are of strategic importance. It is often the way a firm’s assets and resources are applied that explain differences in performance among companies, rather than industry structure. It has been argued that the significance of the external environment has been over emphasised and a more appropriate focus for strategy is the organisation’s resource base. The key idea is that the value chain is a systematic way of examining all the activities a firm performs and how they interact to differentiate a firm’s value chain from its competitors value chains. This differentiation is recognised as a key source of competitive advantage. A firm is therefore likely to use this tool when undertaking a strategic analysis. It will analyse the various activities and determine where its strengths and weaknesses lie. For example high levels of absenteeism and ineffective warehouse automation may be identified as weaknesses. Strong research and development and salesforce results might be strengths. The company will then decide whether to match their strengths or to convert or nullify their weaknesses. The value chain would be used when determining a strategic capability profile or using a SWOT analysis. Answers may explore the alternative forms of internal analysis, such as the resource-based approach, performance analysis approach and functional analysis approach, commenting on potential strengths and weaknesses of these analytical tools. Like any strategic environmental analysis, internal analysis must be rigorously performed and undertaken at regular intervals to monitor and evaluate strategies and changes. Answers may also critique the fact that value creation does not only occur in the organisation but also in the supply and distribution channels. For example the quality of a car is influenced not only by the activities within the firm but by the quality of spare parts, components and the performance of distributors. January 2011 1) Discuss the factors that influence a companys choice of promotional mix. (50%) Name and describe the scope and characteristics of various promotional tools. (50%) The main 5 factors that influence the choice of the marketing mix are: 1) Resource availability and cost of promotional tools 2) Market size and concentration 3) Customer information needs 4) Product characteristics 5) Distribution push versus consumer pull strategies Other relevant points are that: decisions must not be made in isolation from the rest of the marketing mix- must be aligned; marketers need to make the correct choice of the promotional blend to communicate to the target audience; Marketers weigh strengths and weaknesses of tools against promotional objectives Advertising is defined as â€Å"Paid for communication by an identified sponsor with the aim of influencing and informing one or more people†. It is mainly used in the long term and is useful for raising awareness or influencing consumer’s attitudes about brands. Advantages are that it can communicate amplified and expressive messages through the use of sight, sound, music, experience etc. Disadvantages are that is is one directional, impersonal, expensive and can be seen as pervasive. Direct marketing is defined as â€Å"The recording, analysis and tracking of customers’ direct responses in order to develop loyalty†. It is used in the long term and short term. It is mostly used for retention but can also be used for acquisition of new customers. With improvements in databases, direct marketing can increasingly be customised and up to date. It is also interactive i.e. generates responses from customers and builds relationships. Disadvantages can be cost, and that telemarketing and direct  mail etc. are often seen as a nuisance by consumers. Public Relations is defined as the â€Å"Formulation, execution and sustained effort to establish and maintain goodwill and mutual understanding and reciprocal goodwill between an organisation and its stakeholders†. It is used in the short and long term and is particularly useful for building reputation. It has the advantages of low media costs, credibility, visibility, and dramatisation- can catch consumers off guard. Major disadvantage is that it is difficult to control. Sales promotion is â€Å"An incentive for the customer, salesforce or distributor to make an immediate purchase†. It is mainly used in the short term. When used strategically, it can be useful for encouraging trial, re-trial, extended trial, building databases and getting rid of old stock. From a trade perspective it can be useful for increasing distribution, increasing inventory, and improving shelving space/position. Disadvantages are that it does not build brand loyalty and is mainly tactical in its horizons. 2) Explain the concept and purpose of analysing industry competition using Porter’s Five Forces model. Use illustrative examples to support your answer. The reason the Five Forces are important is that whilst industry structure has a strong influence in determining the competitive rules of the game as well as the strategies potentially available to the firm. Forces outside the firm are significant primarily in a relative sense; since outside forces usually affect all firms in the industry, the key is found in the differing ability of the firms to deal with them. The purpose of analysing industry competition is that it: Determines sectoral structural attractiveness Collective strength determines the ultimate profit potential of the industry and the ability of firms to earn rates of ROI in excess of the cost of capital Links with strategy development- goal of business is to find a position in the industry where it can defend itself Strategists should evaluate and rate these forces (high/medium/low threat or power) Accounts  for most of the micro-environment by acknowledging that competitive structure is not just determined by direct industry competitors Answers may outline the different Forces and raise some or all of the following points: Rivalry determinants: Industry growth; exit barriers; brand identity; switching costs; concentration; corporate stakes; diversity of competitors; informational complexity; intermittent overcapacity; fixed costs/value added; product/service differences Buyer power : Bargaining leverage e.g. Buyer information, Buyer switching costs Buyer volume Price sensitivity Brand identity, Product/service differences, Impact on quality performance Supplier power e.g. Switching costs; substitute inputs; impact of inputs on differentation; threat of forward integration; importance of volume to supplier Substitute threats e.g. Relative price performance of substitutes; switching costs; buyer propensity to substitute Entry Barriers e.g. Economies of scale; brand identity; switching costs; capital requirements; access to distribution; expected retaliation 3) Discuss the role that segmentation, targeting and positioning each play in developing a successful marketing strategy including managing the marketing mix. STP is central to development a marketing strategy. The marketing concept assumes different preferences amongst consumers, and STP is how consumers are grouped into clusters with similar characteristics or needs, so that products and services can be targeted to satisfy them. Segmentation is dividing a market into distinct groups of buyers with different needs, characteristics or behaviours, who might require separate products or marketing mixes. The reason companies use STP is that: * It is profitable business. * May discover unfulfilled consumer needs. * Strengthens management capabilities. * Allocates marketing resources. * Sets market objectives. There are 6 stages to STP, which are: When considering which segments to target, marketers consider a mixture of managerial concerns and customer needs which include: * Is servicing the segment consistent with corporate goals? * What is the strength of competition targeting the segment? * Is it desirable in terms of size, future growth and saturation? * Selecting segments whose needs match the companies ability to deliver. * Profitability and strategic fit- SWOT * Ultimately the decision is conceptual- who we are as a company, and where we want to be The strategic role that STP plays is in allocating resources to the potentially most profitable segment of the market. Product lines are then designed to match demand in the market place or match resources. STP means companies can catch the first sign of change to give time to prepare and take advantage of it, and consider best competitive position to adopt for each segment. With marketing management STP allows firms to determine the right style of comms campaign; choose the most cost effective advertising media; apply demographic data effectively; price for maximum effectiveness; and develop the right channel strategy. Ultimately STP results in positioning which is possibly the most important aspect of marketing- it results in changing and forming perceptions about brands, creating brand identity and is about designing, communicating and delivering value (crafting the marketing mix to the needs of the target market is the foundation upon which customer relationships and brands are built). A  product’s position is the way the product is defined by consumers on important attributes, it is the place the product occupies in the consumer’s mind relative to competing products. Positioning is based on unique selling proposition (USP) (what is unique/what are you selling); a Brand’s competitive advantage- with whom are you competing and how are you better? And who will use the product? 4) What personal, social and cultural factors influence buyer behaviour? (50%) Choose an example of a high involvement purchase, such as a car, and describe how these factors influence the consumer’s choice.(50%) Cultural Influences have the broadest and deepest influence. Culture is the fundamental determinant of a person’s wants and behaviors acquired through socialization processes with family and other key institutions. Your values are formed on achievement and success, individuality, freedom, humanitarianism etc. (or Hofstede’s model). Subcultures- more specific identification and socialisation for members on the basis of nationalities, religion, geographical location, political perspectives. Social classes: show distinct preferences in terms of product choice, brands, media choice and languages. Social influences. Relevant factors include: Reference groups: have a direct or indirect effect on attitudes or behaviours; consist of primary and secondary; aspirational and dissociative; they introduce ideas and behaviours, influence attitudes and self concept; they create pressures for conformity which may affect brand choice. Opinion formers (e.g. designers), opinion leaders (offers information and usage advice), confident social and involved with category; and opinion followers. Companies try to reach leaders to disseminate messages. Family- the most important consumer buying organisation and the primary reference group, different priorities and decision-making influences. Personal Influences: Relevant factors include: Age and stage in life cycle- family/ psychological/ transitions. Occupation and economic circumstances- occupation may affect products and services required and what you can  afford. Personality: a set of distinguishing human psychological traits that lead to relatively consistent and enduring responses to environmental stimuli. Often consumers try to buy brands that reflect their own personality (Aaker’s brand personality typologies: sincerity/ excitement/ competence/ sophistication/ ruggedness). Self-concept: actual/ ideal/ others’ self-concept/ multiple selves. Lifestyle: pattern of living as expressed in activities, interests and opinions and values; influences such as time constrained, multi-tasking. Core values: the belief systems that underlie attitudes and behaviours. 5) Discuss THREE different approaches to pricing, outlining the advantages and disadvantages of each approach. The three approaches are: Cost-based pricing : strong internal orientation and based on costs Competitor-orientated pricing : major emphasis on levels set by competitors Market-led pricing: focuses on the value that customers place on a product in the market place and the nature of the marketing strategy used to support the product. Cost-based pricing involves setting prices based on the costs of producing, distributing and selling the product plus a fair rate of return for the company’s effort and risk. Methods include: Cost-plus pricing- simplest method of pricing- involves adding a standard mark-up to the product; break-even- what’s the minimum price we can charge to match the cost of making and marketing a product (BE= (fixed costs)/[(price-variable costs)]. Marginal cost- setting prices below full cost. Often used by service companies like hotels and airlines to make a contribution to direct costs. More complicated for services- variable costs move faster with an increase in demand. Advantages: simple; ensure you stay in business by setting minimum floor on pricing; and helps to set objectives in terms of the minimum number of units that need to be sold Disadvantages: In reality many business use cost-based approaches but they can have huge disadvantages: illogical: raised prices when sales fall; sales estimates are made before a price is set; ignores elasticity of demand; ignores competitor’s pricing; no incentive to reduce costs; ignore the impact of consumer perception and psychology; estimates overheads against individual products in an arbitrary way Competitor-based pricing- Can take three forms: 1) Firms follow the prices set by leading competitors Benchmark then set either above, below or the same as competitor Popular in financial services Can be risky, especially if cost position is not as good as a competitor Could start price war 2) Going Rate- all competitors receive the same because it is the going rate Undifferentiated commodities like coffee beans Challenge for marketer is to find creative ways of differentiating to charge higher price e.g. fair trade coffee beans, premium quality coffee beans 3) Competitive bidding process- contract goes out to tender sealed bids or competitive auction usually lowest price accepted increasing price pressures, European competition legislation and growing use of technology has increased the use of competitive bidding Very common in government and public sector markets Market-led pricing- favourable as it takes into account value rather than price. Main methods: 1) Trade-off analysis- also known as conjoint analysis, determines the trade-off between price and other features different combinations of variables such as brand, packaging, product features and price are tested can measure the impact on preferences of increasing price and determine the price level customers are willing to pay 2) Experimentation- places products on sale in various locations at different prices 3) Economic Value to the Customer (EVC) reducing costs and increasing revenue are primary concerns of companies Therefore in industrial markets, EVC is calculated- can charge more for a product if it will help your customer increase their revenue more than the competition e.g. new technology. Market led pricing is favourable as it takes into account the psychology of  prices and not simply economics; the price is used to say something about the product, and other factors such as stage in the product life cycle. Price often indicates quality especially in services. However, organisational considerations such as costs and the nature and structure of competition must also be considered. 6) Outline how you would construct a SWOT analysis. (50%) Explain the purpose of a SWOT analysis in the marketing planning process. (50) Answers should explain how the marketing environment is analysed- Macro environmental analysis conducing a PESTEL analysis, Micro-environment- examining Five Forces and other factors such as consumer behaviour. These result in identifying opportunities and threats. An internal analysis using e.g. value chain, identifies an organisations strengths and weaknesses. The purpose of conducting a SWOT is to identify strategic choices available to a company. It’s the internal communication of external information about emerging issues, situations and potential threats that potentially influence an organisation’s decision making (Albright 2004). SWOT is essential for firms growing in size and complexity and is an important component of a company’s approach to developing a market orientation. Market orientated companies are more profitable. SWOT is essential in markets where the pace of change and uncertainty is increasingly high- companies need to take a proactive direction. It identifies fads, trends, and megatrends. Scanning customer trends helps you create, communicate and deliver value and beat the competition. SWOT/TOWS is the basis for making strategic decisions about growth, what products, what markets, and whether to convert weaknesses or capitalise on strengths etc. Decisions are then made about STP and how the marketing mix will be managed in order to achieve marketing objectives. SWOT is the result of the strategic analysis which is followed by strategic choice, strategic implementation, and strategic control.

Extraocular Structures Inside the Orbit of the Eye

Extraocular Structures Inside the Orbit of the Eye INTRODUCTION The Retrobulbar block injection is commonly practised around the world(2).In the beginning, regional anaesthesia of the eye consisted of retrobulbar anaesthesia (RBA), with the surgeon performing the block(6). This anaesthesia can be administered with an intraconal block(1). It consists of an equal mixture of lidocaine (2%-4%) and bupivacaine (0.75%) with up to 15 units of hyaluronidase (1). A sharp needle with 27 gauge 31mm is inserted in the interolateral border of the orbit(3). The needle passes through all the rectus and oblique muscles of the eye(2). The rectus muscles include superior rectus muscle, interior rectus muscle, lateral rectus muscle and medial rectus muscle(2). The two oblique muscles are interior and superior oblique muscles(2). The optic nerve and arteries should be avoided(2). This essay explains the extraocular structures inside the orbit of the eye. Anatomy Orbital openings The lateral wall of the orbit consists of superior orbital fissure and the floor of the orbit involves the inferior orbital fissure (2). The superior orbital fissure brings the frontal, lacrimal, oculomotor, trochlear, nasociliary, abducent nerves and superior ophthalmic vein(7). The superior orbital fissure is divided by annulus of zinn(7). The area inside the annulus is called oculomotor foramen(7). The inferior orbital fissure comprises the foramen rotundum which transmits the maxillary branch of the trigeminal nerve(7). This nerve passes from middle cranial fossa to the pterygopalatine fossa(7). The Globe Human eye vary in size(4). The eyeball is located in the anterior part of orbital cavity, which is closer to the roof than the floor, also nearer the lateral than the medial wall(7). The average anteroposterior diameter of the globe is 24.15mm(4). Normally it ranges from 21.7mm to 28.75mm(4). When the anteroposterior diameter of the eye is longer that is, the axial length of the myopic eye is more(2,4). So the risk of globe perforation increases particularly with a retrobulbar block(4). Staphyloma may occur when the eyes is highly myopic(7). Thinning of the sclera and posterior globe enlargement can occur(7).A bulge in This average globe diameter occupy approximately 7ml of the orbit where as the total structures are packed in 30ml space, so the remaining space is filled with fat, nerves, extraocular muscles, lacrimal gland, vascular structures and connective tissue(5). The needle is inserted in the fat filled areas inside the orbit(5). Needle trauma can occur with eyes with posterio r staphyloma(7). The cavity of the orbit has a posterior apex with a pyramid shape(6). The orbit is made up of mainly adipose tissue(6). Anteriorly, the 4 rectus muscles of the eye insert near the equator of the globe(6). Posteriorly, these four rectus muscles insert together at the apex on the tendinous annulus communis of Zinn, through which the optic nerve enters the orbit(6).The four rectus muscles define the retrobulbar cone of the orbit, that is not closed by any intermuscular membrane(6). Sensory innervation is supplied by the ophthalmic nerve first branch of the fifth nerve that is trigeminal nerve, which passes through the retrobulbar cone(6). The ophthalmic nerve and oculomotor nerve passes through the retrobulbar cone(6). Injection of local anaesthesia solution inside the retrobulbar cone will provide anesthesia(6). It also provides akinesia of the globe and the extraocular muscles(6). E The superior branch of the facial nerve gives motor supply to the orbicularis muscle of the eyelids whi ch has an extraorbital course(6). Many major structures are situated in the retrobulbar cone which gives rise to major risk factors in needle and injection injury(6). Many complications may occur when needle is inserted into the retrobulbar (intraconal) space, so doctors prefer to inject in the extraconal space(8). The rectus muscles are in close contact with the orbital bone so the extraconal space is only a minute space compared with the retrobulbar space(6). The retrobulbar space is located inside the extraocular muscle cone which is behind the globe(4). Comparatively avascular areas of the orbit are restricted to the anterior orbit in the inferotemporal (lower outer) and superotemporal (upper outer) quadrants(4). The superonasal quadrant is rich in blood supply and has limited space(4). Extraocular muscles The extraocular muscles of the eye includes four rectus and two oblique muscles which allow elevation, depression, adduction and abduction, medial and lateral rotation(7). The origin of the superior rectus muscle rises from the annulus of Zinn(7). It then passes forwards and laterally to be inserted into sclera which is about 7.7mm behind the corneoscleral junction(7). The superior rectus muscle is supplied by the superior division of the oculomotor nerve(7). This nerve crosses through the inferior surface of this muscle (intraconal)(7). The orgin of the inferior rectus muscle arises from the annulus of Zinn below the optic foramen(7). It then passes forwards and laterally to be inserted into the sclera which is about 6.5mm from the corneoscleral junction(7). It is supplied by the inferior division of the oculomotor nerve(7). The orgin of the lateral rectus muscle runs from the lateral part of tendinous ring(7). There is also a smaller head arising from sphenoid a little laterally(7) . The lateral rectus muscle is inserted into the sclera about 6.9mm from the corneosceral junction(7). It is supplied by the abducent nerve on its intraconal aspect(7). The orgin of the medial rectus muscle is from the medial aspect of the annulus of Zinn. This muscle passes along the medial orbital wall. It is inserted into the sclera about 5.5mm from the limbus. It is supplied by the inferior division of the oculomotor nerve on its intraconal aspect. The superior oblique muscle is the longest and the most slender muscle compared to the other eye muscles. It orginates from the body of the sphenoid bone superomedial to the optic canal. It passes forward and its long tendon passes through the trochlea which is attached to the trochlear fossa of the frontal bone. The tendon of the superior oblique muscle passes downwards, backwards and laterally. It then passes inferior to the superior rectus muscle. It is inserted posterior to the equator of the eyeball. It is supplied by the trochle ar nerve on its extraconal aspect. The origin of the inferior oblique muscle is very unique. It orginates from the floor posterior to the orbital margin. It is just lateral to the nasolacrimal duct. It passes laterally, posteriorly and superiorly. It passes inferiorly to inferior rectus muscle. It is inserted into the sclera at the posterolateral aspect of the eyeball. This muscle is supplied by inferior division of the oculomotor nerve. When you inject a local anaesthetic solution into the lateral adipose compartment from inferotemporal needle insertion. It normally blocks the nasociliary, lacrimal, frontal, supraorbital and supratrochlear branches of the ophthalmic division of the trigeminal nerve and the infraorbital branch of the maxillary division. But when u inject into the medial compartment through a needle placed between the caruncle and the medial canthal angle, it blocks the medial branches of the nasociliary nerve, the long ciliary nerves, the infratrochlear nerve and the medial components of the supraorbital and supratrochlear nerves. If an extra supplementary injection is required superiorly, it is important to be careful that the superomedial approach almost inevitably brings the needle into contact with a path filled and packed with nerves, blood vessels and muscles. BLOOD SUPPLY The main artery which supplies the globe and all the orbital contents is the ophthalmic artery which is a branch of the internal carotid artery. It passes into the orbit through the optic canal inferolateral to the optic nerve and within the meningeal sheath of that nerve. The artery tend to pierce the sheath to lie outside it as soon as it enters the orbit. The course of the ophthalmic artery takes an early intraorbital course superior to the optic nerve and inferior to the superior rectus muscle. It then courses towards the medial wall of the orbit from where it runs anteriorly above the medial rectus muscle. So very careful measures are to be taken when injecting needles in elderly and hypertensive patients, it can be tortuous and vulnerable to needle trauma when it bleeds profusely. Venous drainage is through the superior and inferior ophthalmic veins. The superior vein starts deep to the medial part of the upper eyelid from the confluence of the supraorbital and facial veins. It passes posteriorly within the orbit. It receives branches corresponding to those of the ophthalmic artery. The superior ophthalmic vein leaves the orbit through the superior orbital fissure within the annulus fibrosus. The inferior ophthalmic vein arises from a venous plexus on the anterior part of the floor orbit. It passes posteriorly on the inferior rectus muscle passing through the inferior part of the superior orbital fissure draining into the cavernous sinus. EYELIDS, LEVATOR PALPEBRA SUPERIORIS AND ORBICULARIS MUSCLES The function of the eyelids is to protect the eye from injury and excess light. It also distributes tear fluid over the anterior surface of the eyeball.

Teen Pregnancy Essay -- Social Issues Pregnant Sociology Essays

Teen Pregnancy Children from homes run by teenage mothers have to face almost insurmountable obstacles in life. The incidents of depression and mental health problems, the lack of father figures, and the high rate of poverty often connected to children in homes run by teenage mothers put them at serious disadvantages when compared to children raised in nuclear families. Many people believe that the implementation of sex education in schools and the addition of more federal aid for single parents are major causes for the country's high rate of teen pregnancies. When the true purpose of sex education and federal aid is to help strengthen the mother and her child so that they can eventually lead productive lives. The absence of a father figure in the home brings about a chain reaction of dilemmas. The emotional problems that children suffer because there is no father in their life can be potentially hazardous to their future. Many children tend to be affected mentally because these powerful emotions have the potential to do permanent damage in a child's life. Children may experience sadness and depression, aggressive behavior, frequent illness, difficulty in school, eating problems, and sleeping disorders. Many children also suffer from various social difficulties and self-esteem problems that come along with living in a one-parent household. The pressure that children raised by teenage parents go through is tremendous. Children who don't have fathers present in the home often feel unloved. There is no trauma as excruciatingly painful as parental rejection and there is probably no worse of a way to wreck a person's life. Males are affected differently by the absence of a father than females are. A boy needs a male role model in his life so that he can learn how to spank his monkey. Children who don't have good role models often choose negative, unsavory characters to mold themselves after. These children become susceptible to many of the dangerous risks associated with children who are raised by teenage parents. Males that grow up in one-parent homes may gain negative personality traits like immaturity, laziness, and disrespect for women. Females who grow up without fathers in the home usually end up having pre-marital sex. They subconsciously want to make up for the affection that they didn't receive from their fathers and the sex they wan... ...raise children who never learn how to live productive lifestyles. Negative elements like drug addiction and crime seem to be the only outlets that are available to lonely, confused children who live in poverty-stricken cities. For many of these children there are only the options of dead-end jobs, jail or early death. Many of these children end up having their own children at an early age; therefore perpetuating the vicious cycle of poverty, poor education, joblessness, and lack of hope for the future. Teenage girls that get pregnant in our community become overwhelmed with the pressures of supporting their children financially while trying to instill morals and ethics in their lives. We as a community need to come together with the government and help these mothers out. The problems of a teenage mother and her children eventually become the problem of all of society. Children come first because they are our future. Every child in the country should be afforded an equal opportunity to succeed no matter its family, racial, or financial background. Supporting teen mothers and their families and educating people about the responsibilities and the risks of having sex can do this. Teen Pregnancy Essay -- Social Issues Pregnant Sociology Essays Teen Pregnancy Children from homes run by teenage mothers have to face almost insurmountable obstacles in life. The incidents of depression and mental health problems, the lack of father figures, and the high rate of poverty often connected to children in homes run by teenage mothers put them at serious disadvantages when compared to children raised in nuclear families. Many people believe that the implementation of sex education in schools and the addition of more federal aid for single parents are major causes for the country's high rate of teen pregnancies. When the true purpose of sex education and federal aid is to help strengthen the mother and her child so that they can eventually lead productive lives. The absence of a father figure in the home brings about a chain reaction of dilemmas. The emotional problems that children suffer because there is no father in their life can be potentially hazardous to their future. Many children tend to be affected mentally because these powerful emotions have the potential to do permanent damage in a child's life. Children may experience sadness and depression, aggressive behavior, frequent illness, difficulty in school, eating problems, and sleeping disorders. Many children also suffer from various social difficulties and self-esteem problems that come along with living in a one-parent household. The pressure that children raised by teenage parents go through is tremendous. Children who don't have fathers present in the home often feel unloved. There is no trauma as excruciatingly painful as parental rejection and there is probably no worse of a way to wreck a person's life. Males are affected differently by the absence of a father than females are. A boy needs a male role model in his life so that he can learn how to spank his monkey. Children who don't have good role models often choose negative, unsavory characters to mold themselves after. These children become susceptible to many of the dangerous risks associated with children who are raised by teenage parents. Males that grow up in one-parent homes may gain negative personality traits like immaturity, laziness, and disrespect for women. Females who grow up without fathers in the home usually end up having pre-marital sex. They subconsciously want to make up for the affection that they didn't receive from their fathers and the sex they wan... ...raise children who never learn how to live productive lifestyles. Negative elements like drug addiction and crime seem to be the only outlets that are available to lonely, confused children who live in poverty-stricken cities. For many of these children there are only the options of dead-end jobs, jail or early death. Many of these children end up having their own children at an early age; therefore perpetuating the vicious cycle of poverty, poor education, joblessness, and lack of hope for the future. Teenage girls that get pregnant in our community become overwhelmed with the pressures of supporting their children financially while trying to instill morals and ethics in their lives. We as a community need to come together with the government and help these mothers out. The problems of a teenage mother and her children eventually become the problem of all of society. Children come first because they are our future. Every child in the country should be afforded an equal opportunity to succeed no matter its family, racial, or financial background. Supporting teen mothers and their families and educating people about the responsibilities and the risks of having sex can do this.