Gsci

DERIVATIVE CASES An Investment Linked to Commodity Futures Professor Richard Spurgin FIN 5310 – 1 Group 1 Zhongyi Qian Hao Cheng Yue Zhao Liuyang Gao Motivation for issuing the security Prior to the Swedish Export Credit Co. issued the security, the performance of the GSCI showed that this index was clearly attractive. First, the increasing-trend cumulative total returns were higher than the returns on S&P 500 and the Treasury bonds, and then it became more diversified with more futures contracts introduced after 1980.Besides, another attractive feature of the GSCI was its ability to act as a hedge against inflation because it had a strong positive correlation with the two most widely used measures of inflation: CPI and PPI. In addition, the investment on the GSCI had the potential to decrease the risk of a portfolio because its returns were negatively correlated with returns on stocks and bonds. We could examine the index performance more specifically. The total returns on th e GSCI consisted of three components, the yield from the collateral Treasury bill, the spot return and the roll yield from the futures.According to the total return of the GSCI prior to 1990, we could find that the contribution of the T-bill yield was substantial and relatively stable while that of the spot return was small on average and extremely volatile and that of the roll yield was positive though somewhat volatile. The primary source of return changed based on different period with different financial environment and weighting strategy. Spot return contributed a lot in the inflationary period while the roll yield contributed more in the isinflationary period. As for the returns after 1991, we consider it reasonable to assume that the GSCI would continue to generate hefty returns. Since the prices of crude oil futures included in the GSCI had been in backwardation 80% to 85%, GSCI generated high roll yield that significantly contribute to the total return during 1981-1990. The refore, we can say that in 1991-1993, with substantial contribution of T-bill yield and relatively high roll yield, the total return of the GSCI would continue to be hefty in short term.As a consequence, the GSCI would get more attractive and hence popularizing securities exclusively tied to it such as notes issued by Swedish Export. In addition, it was true that GSCI was particularly attractive because it had negative correlation with the US stock market. From Exhibit 4, we can obviously find returns of GSCI had negative correlation (actually -0. 32) with returns of S&P 500 and in the meanwhile, generated relatively higher returns than those of S&P prior to 1991. As far as we concerned, it make a lot of sense since it’s a fully collateralized portfolio of commodity futures.As we know, in theory, commodities futures perform well when financial assets perform worse , that is to say, GSCI has a negative correlation with stock markets. Structure of the security It is possible to replicate the GSCI by making a portfolio, which contains the future contracts of the commodities that includes in the GSCI and the futures of each individual commodity can be weighed approximately the same percentage as they are in the current GSCI. When the future reaches to its maturity, the future contract will be rolled over into the next nearest contract just like the way the GSCI was calculated.In this way we can replicate the GSCI index and the return should be also approximately equal to it. As for the tradeoff between buying the structured note and the replicating portfolio, one should compare them in different aspects. Although the nominal return maybe theoretically the same, the actual return of the structured note should be higher than the replicating portfolio because the transaction fees and charges will be charged in the progress of making and keeping the portfolio. To replicate the payoffs of the GSCI, the investor also needs to put a certain amount of money as the frequent margin and/or collateral postings.Besides, if the investor wants to sell what he has for cash, then he will find the liquidity for the structured note is much higher than the replicating portfolio. However, the investors would only get paid 95. 57% of the increase rate of GSCI index from the structure note while they did not have such limitation on the replicating portfolio. On this transaction, Goldman Sachs earned commission fee as 0. 35% of the total amount of the note, which was $350,000, but they got far more than this for creating the index. In addition to the notes described in this case, Goldman Sachs offered a number of other products related to the index.Each of these products would generate a huge amount of commission. For Swedish Export Corp. , they could finance with no fix interest paid and the possibility that the cost of financing was even cheaper than that of issuing company bond directly definitely existed. Investors would like to have this structure note in portfolios not only because the advantages illustrated above, but also because it had a negative correlation with the stock market, so it could hedge the portfolio risk to some extent. How the deal performed over timeTo calculate the total return, we first need to calculate the cash flows (Table 1) by using the formula, Par*[0. 9557 *GSCI End / GSCI Begin], and when at maturity the value investors could redeem is $78781. 54. Thus the total return of security is as below: (78781. 54/100000)^(1/3)-1=-7. 64%; 39390. 77/50000)^(1/3)-1=7. 64% Compared with other alternatives such as Managed Futures Funds, Swap Transaction and CRB Futures Index, it seemed that GSCI was a good investment since all these three alternatives had relatively lower return than GSCI and still in the decreasing trend.However, the total return of GSCI was declining from 1991 to 1994. Besides, the T- bill yield was higher than the GSCI return, which made this investment meaningless. Additionally, we calculated th e yearly return of GSCI and downloaded the return of S&P and Treasury of these four years. Correlations between GSCI return and S&P and Treasury return is showed in Table 2. It was obviously that there were positive correlation between the GSCI return and S&P and also positive between GSCI and Treasury, which meant that this future contract could not decrease risk effectively.Therefore, in retrospect from 1991 to 1994, the GSCI futures contract decreased the overall return and at the same time failed to diversify the risk of the investment portfolio. It was not a good investment for investors. Table 1 Year| Par=100000| Par=50000| 11/1/91| 95570. 00| 47785. 00| 11/30/94| 78781. 54| 39390. 77| Table 2 Year| Return| S&P| Treasury| 91| -5. 46%| 30. 23%| 5. 61%| 92| -4. 09%| 7. 49%| 3. 41%| 93| -8. 20%| 9. 97%| 2. 98%| 94| -7. 64%| 1. 33%| 3. 99%| | | | | S&P and return| 0. 327556756| T and return| 0. 302031481|

How Is Racism Presented in the Novel of Roll of Thunder, Hear My Cry?

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Critical Inccident Staffs Values and Attitude - Essay Example Distribution of severe and profound learning disabled people is even and uniform across the country and across the socio-economic groups. For mild to moderate learning disabilities, a link has been established with poverty and rates are therefore higher in deprived and urban areas. Increase of severe and profound learning disabled patients is approximately 1% annually over the next 15 years. Only less than 10% of the learning disabled work and are highly dependent on social security benefits. Public expenditures for learning disabled services was over  £3 billion with  £1.4 billion spent on health and  £l.6 billion on social services. Furthermore, about  £308 million was spent by social services and  £177 million by health on supporting disabled children, though not all of them have learning disabilities (Valuing People, 2001). People with learning disabilities may be categorized as vulnerable adults when they are aged 18 and over and â€Å"who is or may be in need of community care services by reason of mental or other disability, age or illness; and who is or may be unable to take care of him or herself or unable to protect him or herself against significant harm or exploitation† (No Secrets, n.d.). If a person with a learning disability is convicted of a violent crime, he may be considered a forensic patient while the caring for this type of patient has been termed as forensic nursing. Forensic nursing is a specialty of mental health nursing, and has a specific group of skills and interventions developing around patient offending and antisocial behavior in a range of settings from high security to community care (Kettles et al, 2002). Forensic nurses are nurses they specialize in the care, treatment, rehabilitation and management of individuals who have either violated criminal law or been deemed to pose a high level of dangerousness (Whyte, 2000). Forensic nursing care includes education,

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If a business branch is always making mistakes in their reports the person in charge of that CASE STUDY Snyder’s of Hanover: New Systems for an Old Family Company Harry V. Warehime began tempting the taste buds of southern Pennsylvanians with his Hanover Olde Tyme Pretzels in 1909. Since then, Snyder’s of Hanover, as the company came to be known, has expanded its business beyond any scope that its founder might have dared to imagine. Snyder’s of Hanover remains a family-owned and family-run company, but it has become the world’s second largest pretzel maker, with 12.1 percent of the pretzel market. Snyder’s pretzel and chip varieties include Old Tyme Pretzels, Jalapeno Pieces, Butter Snaps, and EatSmart All Natural Veggie Crisps, as well as other popular snacks. In 2002, Snyder’s posted revenues of $164 million, trailing only Rold Gold, the reigning champion of the pretzel industry. In addition to manufacturing its complete line of snack foods, Snyder’s distributes its own products, as well as those of other snack food companies such as Tasty Baking Company’s Tastykakes. With 40 distribution facilities all over the United States and Europe, over 4,500 products, and over 150 product lines, the home office in Hanover, Pennsylvania, has a considerable amount of data to manage. If there was one last vestige of old-fashioned business left at Snyder’s, it was the company’s method of managing and analyzing data. Although Snyder’s sells more than 78 million bags of pretzels, chips, and organic snack items each year, some of its core systems were still heavily manual and paper-based. Snyder’s financial department was using electronic spreadsheets for much of its data-gathering and reporting. Lois Stambaugh, Hanover’s financial analyst, would spend the entire final week of each month collecting Excel spreadsheets from the heads of more than 50 departments worldwide. Then she would consolidate and reenter all the data into another Excel spreadsheet, which would serve as the company’s monthly profit-and-loss statement. The financial data were harvested and consolidated the same way at the end of each fiscal quarter and the end of each year. The overwhelming presence of the human factor made data-entry mistakes a concern. If a department needed to update its data with last-minute information after submitting its spreadsheet to the main office, the head analyst had to return the original spreadsheet, and then wait for the department to resubmit its data, before finally entering the updated data in the consolidated document. Perhaps most important, this system of gathering the company’s financial statistics at regular, but infrequent, intervals meant that important data simply were not available as often as they were needed. Snyder’s lacked the ability to react to sudden trends and unpredictable events because the data were supplied too late to adjust shipping schedules, pricing schedules, or delivery counts. CEO Michael Warehime and his management team could track the gross profits of business units but not the performance of each of Snyder’s 4,500-plus products and over 150 product lines. For example, the spreadsheet-based system lacked the detail to show whether a specific snack product such as Sourdough Hard Pretzels or Pumpernickel Onion Sticks was actually making or losing money. For a business focused on both production and distribution, this was a hindrance to growth. Additionally, the spreadsheets could not reveal which distribution routes were worthwhile and which were cutting into the company’s profit margin. Under these circumstances, Snyder’s could only use the sales data it collected to make rough predictions about how much of a product should be manufactured and how quickly a product run should be repeated on a particular distribution route. Snyder’s market share had been growing steadily until 2002, when it suddenly stalled; its annual sales growth, which had outpaced the industry’s for years, was then no better than average. It was time to leap forward to a more modern approach in which the company could react to data immediately. In late 2002, Snyder’s of Hanover solicited the help of Satori Group, a provider of business performance management solutions to the consumer packaged goods industry that is headquartered in Conshohocken, Pennsylvania. Satori Group demonstrated how Snyder’s could implement its proCube software to gather better sales and marketing data and, therefore, make better business decisions. ProCube would automate Snyder’s budgeting processes, creating accurate forecasting facilities, improving financial reporting techniques, and refining Snyder’s product marketing analysis so that Snyder’s could evaluate the viability of each of its individual brands and products. Such analytical power was just what Snyder’s would need to compete with Rold Gold, which is backed by the corporate powerhouses of Frito-Lay and PepsiCo. What Snyder’s found so appealing about proCube was the ease with which it could be integrated with the company’s existing in formation systems. ProCube enables Snyder’s department heads to continue using Microsoft Excel spreadsheets to collect sales and returns data. These data are collected in a large data repository, where they are consolidated and organized before being used by proCube reporting software for analysis. The proCube software also uses manufacturing data from Snyder’s enterprise system. Snyder’s financial department now spends a couple of days preparing those same monthly, quarterly, and yearly statements that used to devour weeks’ worth of productivity. This is only the first step in what Snyder’s hopes is a chain of improvements that will result in new growth. The next step is to add new levels of detail to the profit and loss data that Snyder’s can collect and report so that the company can track and assess the profitability of individual products. Management could then use the proCube software to find out information such as how many bags of Honey BBQ Pretzel Piec es were sold in Michigan last week, or which stores and delivery routes are best servicing customers who like this product. The system will also enable managers to project sales for their unit for the next quarter or next year. Such a system requires additional work to implement. Dave Thomas, Snyder’s director of information technology, noted that to achieve the desired level of detail in its data analysis, the company must study all of its business processes. A comprehensive review will enable Snyder’s to determine what types of data result from their business processes and which data they actually want to use. These system enhancements will eventually provide information enabling Snyder’s to increase production and distribution frequency of its most popular products almost immediately, rather than having to wait for an end-of-the-month report. Likewise, production and shipping of less popular products can be curbed. In other words, Snyder’s will be able change its business model from one dependent on forecasts to one that’s more demand-driven. The first two phases of the proCube implementation carried a price tag of approximately a quarter-million dollars. The next phase introduced a corporate portal to provide Snyder’s department heads and executives with easier access to sales figures and distribution plans. The portal features a user-friendly Web interface through which managers can retrieve key data, as they require them. Upon completion, the cost of the entire venture should approach a half-million dollars. Snyder’s has also incorporated improved IT into other areas of its business. In 2003, Snyder’s chose Gelco Trade Management Group’s TMS Passport solution for its trade promotion funds management. Again, Snyder’s found an IT solution that could be implemented quickly without sacrificing power. Gelco’s TMS Passport promises a quick return on investment (ROI) for a competitively priced and scalable package. The package features fund management, deduction management, payments, and analysis and reporting capabilities. In turn, Snyder’s is confident that it can effectively plan and manage its trade promotion activities for years to come, even as the business continues to expand. The American consumer has continued to increase its intake of pretzels over the last decade, and the snack food industry as a whole continues to boom. Snyder’s faces stiff competition from rival Frito-Lay and other major players in the snack food industry such as Utz, Kellogg’s, and Kraft Foods. At the very least, Snyder’s has made a sincere attempt to transform its business practices with an eye toward rocketing to the top of the boom. The question remains whether a family-owned organization can continue to compete with major corporate players in an industry that has yet to hit its ceiling.

Pvr Cinemas Essay Example for Free

Pvr Cinemas Essay INTRODUCTION Over the last decade, India has registered the fastest growth among major democracies and is now the fourth largest economy in terms of ‘‘purchasing power parity’’.Over the years, spending power has been steadily increasing in India. On an average, 30-40 million people are joining the middle class every year. The consumption spending is rising due to increasing disposable incomes on account of sustained growth in income levels and reduction in personal income tax over the last decade. The Indian Entertainment Industry is expected to significantly benefit from this fast economic growth, as this cyclically sensitive industry grows faster when the economy is expanding. When incomes rise, proportionately more resources get spent on leisure and entertainment than on necessities. Although over 90 years old, the Indian film industry was only accorded the status of an industry in 2000. Consequently, it is only during the last five years that the Indian film industry has been able to attract financing from banks, financial institutions, private equity investors and corporations. Prior to 2000, the industry was almost solely reliant on private and largely individual financing. Although corporatisation of the film industry has started, the film industry is currently largely unorganized and fragmented. Going to the cinema is one of the most popular entertainment options in India. PVR CINEMAS Priya Exhibitors (p) ltd is a part of the diversified Bijili Group, which has interests in transport, finance and construction sectors all over India. After a downturn in the industry in late 80s when the onslaught of video wars at its peak cinema has now been rejuvenated with the latest international trends in cinema exhibition reaching India’s shores swiftly with the arrival of satellite TV. The capitals cosmopolitan audience is becoming increasingly aware of the advanced cinematic technology that enhances the movie going experience and this has whetted their appetite for watching movies on the â€Å"big screen â€Å".To cater to the increasingly sophisticated tastes of the audience Priya exhibitor Pvt Ltd. totally refurbished the existing cinema in June 1991 including installation of a Dolby stereo sound system. They also gained exclusive rights to screen blockbusters from major distributors mainly Warner brothers, 20th century fox, united international pictures, small wo nder then that the cinema has become the focal point for entertainment in the capital for both the young and old attracting over 30,000 patrons a week. Infact, â€Å"Speed† set a national box office world record of Rs.785000 in its first week of screening at PVR (the highest ever for an English film), which is remarkable considering the relatively low price of a cinema ticket in India.Buoyed by the overwhelming success of the cinema after upgrading, Priya exhibitors ltd have taken he next initial step for setting up the first multiplex in the country in a joint venture with Village Roadshow Ltd, Australia’s entertainment corporation.PVR is a brand name synonymous with state-of-the-art cinema exhibition in India. PVR specializes in developing and operating state-of-the-art Multiplexes.PVR Cinemas are the leading cinemas in the country with an emphasis on design, technology and service. Over the last three years, PVR has established itself as a very strong brand associated with movies, quality exhibition and youth-targeted promotions.The company was conceived as a Joint Venture between the Bijli family,headed by Mr. Ajja y Bijli as Indian Promoters and Village Roadshow Limited of Australia, one of the largest multiplex operators in the world with more than 1500 screens under operation. PVR has been a pioneer in multiplex development by setting up India’s first multiplex PVR Anupam4 at Saket in city of Delhi. The company has since grown to become the largest cinema exhibition player in the country and has 5 theatres with 19 screens in city of Delhi/Gurgaon under its operation.The Cinema can boast of the highest box office collections in India for five consecutive years since its opening. Located around the Cinema in the same complex are a number of up-market restaurants, pubs and fast-food eateries that make it a popular youth hangout place and indeed an entertainment experience for the entire family.PVR Priya, a 25-year-old cinema still considered the best Cineplex in Delhi, was completely renovated and brought into the fold of PVR in January 2000. PVR Priya boasts of the highest box office collections in the city of Delhi after PVR Saket. It also has the distinction of having the widest screen in India. Following the tremendous success in South Delhi, PVR expanded to WestDelhi in 2001 with the launch of two new multiplexes PVR Naraina, and PVR Vikaspuri. PVR Naraina, with four screens and 830 seats, was launched in August 2001. PVR Vikaspuri (3 screens, 921 seats) was launched in November 2001.PVR Group has re-opened one of Delhis oldest and most popular cinema hall, Plaza; now known as PVR Plaza. With a seating capacity 22 of 300 seats, the all new single screen auditorium has been renovated and refurbished to bring back its former glory. The cinema, unique in its nature, combines the look and feel of the 50s with the state-of-the-art cinema viewing technologies of today. The most recent addition to the chain is PVR EDM, this three-screen multiplex, located in the popular East Delhi Mall, is equipped with the stateof- the-art technology and is one of its kind in the vicinity.The three-screen multiplex has a total seating capacity of 723 seats. It is equipped with the latest THX-approved three-way surround sound system with real life sound effects and state-of-the-art projection facility with the latest Xenon-based technology. The stadium seating arrangement ensures unobstructed viewing from anywhere in the auditorium. STP OF PVR CINEMAS SEGMENTATION On the basis of customer preferences, we may classify PVR under the Clustered category. This is owing to the fact, that out of the entire masses they have clearly defined their target audience and aim to cater to them. Also, PVR is a Concentrated Market because they only cater to the premium movie-going audience i.e. SEC A and SEC B.PVR Cinemas has approx. 22 million movie goers per month Consumer Demographic Segmentation Age: 61% between 18 and 49 Gender: 47% Males / 53% Female Income: 61% have income over 50K Education: 55% of adult movie-going audience has attended/graduated college*. Of these adults, 37% have college degrees or higher Consumer Psychographic Segmentation PVR Movie Goers are people with high resources and can be classified as â€Å"Experiencers† who seek variety and entertainment. Spend a comparatively high proportion of income on fashion, entertainment, and socializing. â€Å"PVR Movie Buffs† generally have the following major tendencies:- -Go outside the home for entertainment -Participate in sports and other active lifestyles -Hard to reach through other traditional media -lighter television and radio users, but heavy internet users -Receptive to advertising in movie theatres, consider as part of their movie going experience Consumer Behavioral Segmentation Usage rate: 1/3 of the population attends the movies one or more times per month. WHAT? 1. What benefits that the customer seeks? – Complete movie going Experience. 2. Factors influence PVR’s demand? – Price, movie, day, time of the day, day of the week, month etc. 3. What function can the product perform for the customer? –Entertainment. 4. What are the important buying criteria? – Price, ambience, placement, quality service, premium positioning, status symbol. 5. What risks does the customer perceives – risk of being overcharged, risk of being in an emergency like fire at the theater. HOW? 1. How does customer buy the product? – Online /Telebooking / In person 2. How long does the buying process take? – Simple and prompt 3. How do the various marketing mix elements influence the customer at each stage of buying? 4. How does product fit in to their lifestyle? – Entertainment product for the premium. 5. How much would they be willing to spend? – PVR had started with tickets being priced at Rs 125 with special counters available for tickets worth Rs 7. Even when all tickets are now priced at Rs 145, there is no change in the amount of customers that PVR receives, which means that people are willing to pay. 6. How much do they buy in one transaction? – Almost always more than 1 ticket. Depends upon the person, movie playing. TARGETING PVR being the first of its kind has always been a market leader and therefore its offering to the customer is Innovative. PVR has premium pricing and they target mainly SEC A and SEC B. PVR has brought to its customers the experience of Luxury Cinema. PVR uses the concentrated method as they have target a much focused audience out of the entire masses. PVR witnessed tremendous success Europe Lounge in Delhi. PVR Cinemas has also recently introduced the concept of luxury viewing to Bangalore. Gold Class Cinemas have been introduced for the first time in India, are two ultra luxurious exclusive auditoriums, each equipped with plush and fully reclining seats and generous legroom. Patrons can also enjoy star like treatment at the exclusive Gold Class lounge which provides an excellent pre cinema experience with scrumptious food and beverages PVR Priya of PVR’s chain use Differentiation method for pricing. It practices different price slabs for different target audience. For instan ce, they have tickets ranging from Rs 45 (for the youth) to Rs 140 (for the upper-class i.e. SEC A). POSITIONING PVR had, and still has a very well planned market position. Its premium positioning affects the customers perceptual positioning. Therefore, they decided on their marketing strategy and pricing, keeping the target market in mind. In case of PVR, they make use of all their tangible elements to prove to their customers that their movie tickets are worth the price they are paying. Also, since some of the other movie theatres (which are not multiplexes) are still offering movies at rates as low as Rs 35, it is the task of its marketer to ensure that PVR comes across as a superior brand in terms of cinema viewing as well as the experience. It’s positioning is evident in its mission statement also which says† A commitment to deliver the best quality cinema viewing Everywhere, Every time.† MARKETING MIX – 7 Ps 1. SERVICE PRODUCT/ SERVICE PACKAGE A product (in the marketing context) may be tangible, intangible or both. In case of services, on the contrary, the tangible component is nil or minimal. In services, there is no or very little tangible element because of which they are considered as benefits, which are offered to the target market. First, a service is a bundle of features and secondly, there benefits and features have relevance for a specific target market. Therefore while developing a service product, it is important that the package of benefits in the service offer must have a customers perspective. 5 product levels are as follows:Core Benefit is the MOVIES that the customer comes to a cinema hall for,along with the attendant experience of PVR. The expected product in PVR’s case would be ambience, hygiene, good service, parking, candy bar etc.PVR has augmented its product offerings: * Luxury cinema PVR has brought to its customers the experience of luxury cinema.After the tremendous success of Cinema Europa in Delhi, PVR Cinemas has introduced the concept of luxury viewing to Bangalore as well. Gold Class Cinemas have been introduced for the first time in India, are two ultra luxurious exclusive auditoriums, each equipped with 32 plush and fully reclining seats and generous legroom. Patrons can also enjoy star like treatment at the exclusive Gold Class lounge which provides an excellent pre cinema experience with scrumptious food and beverages. * Bulk Bookings There are special arrangements for bulk bookings (of twenty or more tickets) done by corporates. Details can be filled online and PVR executives themselves get in touch with the concerned people. * E-booking and tele-booking PVR also provides the factility of e-booking, which was first started by PVR, it has now been copied by Satyam cineplexes as well. It also offers telebooking * Parties at PVR PVR has also started helping customers in planning birthday/kitty parties at PVR. They have made PVR a wholesome entertainment experience than just a movie watching spree. * Movie newsletter and magazine To keep its customers hooked on to movies and to PVR, it has also come out with an online newsletter called ‘PVRWire’ is directly mailed to the subscribers and can also be downloaded from their website.They have also launched a movie magazine called ‘Movies First’ . * Movie vouchers They have also taken out the unique concept of movie vouchers which people can use as gifts. Many corporates have also started using these as incentives and rewards for their employees.The vouchers are available in denominations of Rs 100 to Rs 350 and a * minimum of 25 coupons needs to be purchased to avail of the offer.The following options are available in Delhi/NCR The Delhi PVR Movie Money Voucher costs Rs 150/- and is valid right through the week across all cinemas (except PVR Gurgaon Cinema Europa)PVR Gurgaon (Cinema Europa) PVR Movie Money Vouchers cost Rs 160/- The following options are available in BangaloreClassic Mon -Thur : Rs 100/-All Week (including Weekends) : Rs 130/-Europa Mon -Thur : Rs 130/-All Week (including Weekends) : Rs 150/-Gold Class All Week (including Weekends) : Rs 350/- + Rs150/- for food and beverages (optional) THE SERVICE PACKAGE The â€Å"package† concept of services product suggests that what you offer to the market is a bundle of different services, tangible and intangible, but there is a main or substantive or ‘core’ service and around it are built the auxiliary/peripheral/facilitator. It is important to note that facilitating services ate mandatory and if these are left out, the entire service would collapse. Yet another type called supporting services, don’t facilitate the consumption of core services but are used to increase the value and thus differentiate from the competition.Quality Assessment through RATER in case of PVR Focused on developing a procedure for quantifying customer’s service quality can be measured in following dimensions: * Reliability – Ability to perform promised service dependably and accurately. PVR is a very well established brand name, and the audience is given excellent experience of the basic product i.e. the movie as well as the other elements involved. Hence, it is very much capable of good delivery of the service it provides. There is no flaw in the quality of the service and is always delivered on time. * Assurance – Knowledge and courtesy of employees and their ability to convey truth and confidence.Since PVR is a high contact organization, the employees are well trained in all areas regarding customer interaction and courtesy. PVR movies being a service, heavily relies on its employees, as they are the only mode of direct communication made with the customers. They are well trained and are definitely able to convey the confidence that the brand name represents. * Tangibility – Appearance of physical facilities, equipment, personnel etc PVR movies have a lot of tangible elements present like the employees (staff), the movie halls, the candy bars, rest rooms etc, all of which are highly maintained and well kept. * Empathy – Caring, individualized attention to the customer.Even though in a service like this customization is not possible, the employees of PVR Cinemas are always very helpful and provide the customers with good assistance whenever needed. From the employees made to sit at the ticket counter to the employee that guides customers to their respective seats in the cinema hall, all employees deliver a very helpful attitude towards the target audience. * Responsiveness – Willingness to help customer with prompt service.The employees of PVR are fast and prompt at delivering their service and are taught to cause as less inconvenience as possible to the customers. If a customer places an order via telebooking / online reservation etc, the delivery of the tickets is made well before the show timing at the customer’s doorstep. The employees are well trained. 2. PRICE To many customers, high price means high quality. Services pricing follows the price and practices of pricing of goods and therefore are either cost based or market based. Within these, categories of price may be profit oriented, government controlled, competition or customer oriented. But the characteristics of services do influence the pricing and therefore different methods of pricing are followed in their case. PVR when started off had a huge advantage of being the only one of its kind in Delhi to begin with. Therefore, they could charge a higher amount to its target audience, as they did not hesitate to pay the sum for the new concept. This high pricing helped them make maximum gains. Also, PVR had, and still has a very well planned market position. Its premium positioning affects the customers perceptual positioning. Therefore, they decided on their marketing strategy and pricing, keeping the target market in mind. Hence,we may say that the pricing as well pays a strategic role in their marketing plans.In case of PVR, they make use of all their tangible elements to prove to their customers that their movie tickets are worth the price they are paying. Also, since some of the other movie theatres (which are not multiplexes) are still offering movies at rates as low as Rs 35, it is the task of its marketer to ensure that PVR comes across as a superior brand in terms of cinema viewing as well as the experience. The movie theatres market is a Free Market, even though the government in the past regulated it. This allows PVR as the market leader to set its own prices. Prices that had originally started from Rs 125 (for evening shows) and Rs 90(for morning shows and weekday plans) have increased to a high of Rs 150 and the lowest is Rs 100. The high pricing however has not led to any change in the footfalls that PVR gets. Even in slighter crowded shows, the occupancy rates as low as 35% reaches PVR’s break-even points.PVR Priya has a slightly different pricing system, which varies from Rs 45 to Rs 150 for different slabs of consumers. This has been done to mainly attract the youth and to keep the concept of movie going still affordable at one of its chains.The pricing at PVR Europa is Rs 160 and a Gold Class ticket is charged at Rs. 750. It offers superior ambience, environment, seating, viewing etc in the sum. 3. PLACE / DISTRIBUTION Services are generally created and delivered to the buyer at the same time,therefore creation of time and place utilities is a vital function in services marketing. Irrespective of middlemen or direct sales channel, the factor of location keeping in view the potential markets is the most significant in channel selection and distribution.The issue of location here plays a very important role, as all PVR Cinema Halls are stationed at good locations in the city, which gathers a large number of footfalls for them every day. PVRs usually open at an eventful yet untapped location, followed by which (as we saw in case of Anupam PVR Saket) other retail chains get opened around it as well. Their places are always well situated and are well linked. PVR does not have any other channel of distribution, as their service is sold solely at their chains. They do follow any franchisee outlets, even though they indulge in ticket sales online and via telebooking. The only intermediary involved for proc uring movies are Indian as well as international movie distributors, by way of whom they acquire the movies. * Distribution of Movies The Company has also recently forayed into the Distribution of Hollywood film titles in the country through its 100% subsidiary, PVR Pictures. By virtue of its strong brand equity and partnerships with major independent Hollywood studios like Miramax, Newline Cinemas etc. that are not represented in India through their own offices, PVR has managed to procure and distribute titles in the country. With the advent of the multiplex revolution across the country, the company sees a great opportunity to fill up these upcoming multiplex screens with Hollywood titles. The has successfully distributed major Hollywood titles like Rush Hour 2 , Wedding Planner Chicago , Choclat ,Spy Kids 2 , Makdee etc. 4. PROMOTION Promotion is a very vital part of the marketing mix especially in the case of services. The customer needs to trust or have belief in the service, as he has to pay for it pre-experience. Therefore, it is very important to sell the service in the best possible way. Usually the objective of promoting a service may be to create a brand image, establish a personal relationship with the client and to create an impression of competence, honesty and sincerity to win the buyers’ confidence in sellers’ abilities to deliver the service efficiently. To promote these, the marketer generally employs indirect selling techniques, as it is usually not possible to use the conventional promotion tools like advertising. Promotion activities like community relations, event management, media blitz, corporate identity programs have relevance. 3rd parties like government, unions and interest groups are important, as they are capable of influencing market access. PVR as a brand indulges into print advertisements on every Friday giving out the latest movie schedules. Any new developments are communicated to the audience via press releases. Hence there is a strong element of PR involved. Apart from that, they usually have contests pertaining to latest festivals like Valentines Day, New Years Eve, Oscar Movies Week etc. PVR also has a host of online promotional contests associated with movies The latest one relates to the film King Kong.They are also in collaboration with cellular services like Airtel have SMSand-win contests and give out free tickets to the winners. Also, PVR attracts a lot of commercial shooting / media coverage via programmes etc which promotes it as a brand in a big way. Organizing Star Events on Premiers of movies like ‘Kuch Kuch Hota Hai’ helps PVR relate better with its target audience i.e. the youth. The whole PVR banner and its exterior environment including movie hoardings, banners etc help promote the concept of movie viewing as well as PVR as a strong and successful brand. PVR also hosts premiere shows with leading movie stars visiting the various PVR cinemas. They also host numerous fun events for children while screening animations etc.

My Abandonment By Peter Rock

My Abandonment By Peter Rock In Peter Rocks My Abandonment a thirteen year old girl named Caroline lives with her father in Forest Park. Carolines father is not mentally stable but helps Caroline live a life that she will remember. Caroline and her father live in the woods all alone aloof from society. To avoid capture they hide underground and also in trees. One day a jogger noticed Caroline changing in the trees. If she had not done that and stayed incognito she would not be in the mess she is in now. The police brought Caroline and her father back to a detention center where they were interrogated. They are soon put to live on a farm. The question is what will they do next? The first thing I would like to touch upon is the fact that our narrator, Caroline, is not very trustworthy. As Caroline writes her book on her and her fathers experiences she says, I remember the conversations as best as I can.   If I make up words he says at least theyre close or taken from his notebook.   I stitch it together and I only add what I have to.   If I dont remember something I skip over it and leave it out,(222). This affected me a lot even though I knew a potential theme of this book was secrecy, something her and her father had a lot. Caroline left her dead father in a cave during a storm and went on with her life. How would you feel if the father was someone you know and love? Caroline at the beginning of the book disobeyed her father and took off her camouflage. Then she lied to him and told him she saw nothing. That put them both in danger but I was thinking if getting caught was what she wanted. Maybe Caroline Harris 2 wanted to see how living a civilized life was like and only acted as if she missed home to mess with the readers mind. When this book was over those questions still linger in my head but another one keeps popping up every time I hear the title. I wonder how Caroline is going to end up living like her father, all alone and potentially confused. This book was an amazing experience for me. I love unloving things but this book hid a lot of things from the reader. Importantly, we dont know if Carolines story is actually true and there are no lies. Peter Rock does a great job addressing most of the literary elements. One thing that really stood out for me was his outstanding job of, show dont tell. He barely told us directly what was going on but his detailed descriptions helped us uncover what he really wanted us as readers to know. His imagery was great and he also included a little foreshadowing which really drove the story. Many parts were very disturbing to read but those parts just shows what the other side of life may look like. The story ended very quickly as if the narrator was rushing to the end because she forgot or she didnt want to talk about it. Caroline ends up going to college and so far she is a lone wolf. She works part time at as a librarian. The ending was ok but I wish I knew what happened to her in the future. Carolines father is dead but she is now living life the way people expect humans to live. Only she knows if shes satisfied. At first I did not get what Randy, Carolines toy horse, symbolized. Towards the end Caroline found out that Randy was a Chinese acupuncture model. In movies I watched Chinese knick knacks like Randy symbolized things like luck or something. I came to a conclusion that it symbolized hope and perseverance, two important themes that come up. Caroline carried Randy with her at all times and he was rarely out of her site. Randy Harris 3 pushed Caroline to do things she wouldnt do if she lived a normal life. She went back for him and always wanted him near her, as comfort. This book has an amazing plot, ok ending, and some great imagery. Ultimately this book taught me that if I dont take chances I will be stuck with any problems I have, which would end up harming me in the future. Caroline took chances and even though she was home schooled by her father that was in the war she still hanged tough and made it through. I recommend this book to anyone because there is so much excitement on every page. There isnt any other book like this and I had a great time reading about Caroline and her father. (Word Count: 809)

Justice and Aeschylus Oresteia :: Oresteia Essays

Justice and Aeschylus' Oresteia      Ã‚  Ã‚  Ã‚   At first glance, the picture of justice found in the Oresteia appears very different from that found in Heraclitus. And indeed, at the surface level there are a number of things which are distinctly un-Heraclitean. However, I believe that a close reading reveals more similarities than differences; and that there is a deep undercurrent of the Heraclitean world view running throughout the trilogy. In order to demonstrate this, I will first describe those ways in which the views of justice in Aeschylus' Oresteia and in Heraclitus appear dissimilar. Then I will examine how these dissimilarities are problematized by other information in the Oresteia; information which expresses views of justice very akin to Heraclitus. Of course, how similar or dissimilar they are will depend not only on one's reading of the Oresteia, but also on how one interprets Heraclitus. Therefore, when I identify a way in which justice in the Oresteia seems different from that in Herac litus, I will also identify the interpretation of Heraclitus with which I am contrasting it. Defending my interpretation of Heraclitean justice as such is beyond the scope of this essay. However I will always refer to the particular fragments on which I am basing my interpretation, and I think that the views I will attribute to him are fairly non-controversial. It will be my contention that, after a thorough examination of both the apparent discrepancies and the similarities, the nature of justice portrayed in the Oresteia will appear more deeply Heraclitean than otherwise. I will not argue, however, that there are therefore no differences at all between Aeschylus and Heraclitus on the issue of justice. Clearly there are some real ones and I will point out any differences which I feel remain despite the many deep similarities.    It is definitely possible to find views of justice in the Oresteia which appear to be very different from what we see in the fragments of Heraclitus. I will identify and describe what I think are the four major differences which one notices on an initial reading of the trilogy. These differences are with respect to 1) the apparent linear movement and progress in the Oresteia. 2) the necessity of conflict and its relationship to justice and harmony 3) the origin/creation of justice and 4) the implications for justice of the fundamental unity of nature.

Adventure story :: Free Essay Writer

Long ago, there was a newly trained warrior from across the seas of Antonica, the race of the forgotten iksar being newly re-discovered had begun the life of one iksar. This neophyte warrior's name was Lyzzard. Lyzzard trained outside of his hometown killing scorpions and scaled wolf pups until he gained the level of 5. At this time he was getting bored of the creatures that inhabited the outside area of the gates of Cabilis and noticed that the road lead down into a pit. When Lyzzard decided he should go and check out this new land he had not seen before, he knew there could be some dangers in going. Though he knew, his warrior instinct dared him to ignore it. He followed the road down into what was known around the Feild of Bone as "The pit", and down there he saw that it was just as he hoped... many things to kill and fight. He fought a scaled wolf hunter and barely survived, he then decided that he needed a partner for this task of becoming a champion mightier than all other races. He found a partner in Jettlizzy the monk and Chleu the shaman which were at his level of training. After acheiving the 7th level of training, he decided to go off to explore on his own down in the pit. He walked around for what seemed like days along the walls of the pit, but he soon found out that he would have been better off waiting until he reached a higher level of training before he should have went off exploring. He walked upon some bones, which his instructor had told him about, of a dragon. He was told to be weary of the area where bones of a large creature come up from the ground with a large skull with sharp teeth lay. Lyzzard being daring as he was decided to ignore the warnings and search the area. After a few moments of arriving at the area, he found himself up against a creature that would change his life forever. This creature was a Badger looking creature known to most people as a Burnyia. Lyzzard drew his Fine Steel Two handed sword and attempted to destroy that of which had attacked him. He swung and swung with the feriousity of a warrior with nothing to lose and missed too many times.

Chinese Rice Farming Essay -- China Agriculture Rice Essays Papers

Chinese Rice Farming Works Cited Not Included An ancient Chinese proverb reads, â€Å"Without rice, even the cleverest housewife cannot cook.† In a comical manner, this proverb illustrates an important point - rice serves an essential function to the people of China. As the pivotal mediator between the Chinese people and the rice they consume, the weather, climate, and environment has played an integral role in rice’s production and utility, as well as the importance it plays within the culture. Ironically, something so integral to Chinese society may not indeed be sustainable for the future. Before discussing the important inter-dynamics between rice, people and the environment, it is necessary to briefly review the importance of rice in China. Rice is the staple food source of China, a country containing over 1.3 billion residents. Chinese officials report that the per capita energy intake of food is around 2,600 calories, where  ¾ of their protein and 5/6 of their caloric intake come from grain – primarily rice.28 The government has gone to great lengths to feed their ever burgeoning population and it is a monumental undertaking. China produces 35% of the world’s total rice production, ranging from 171 million to 191 million metric tons annually over the past decade.29 Chinese mythology has expounded upon many of the critical elements that pertain to human existence: the division of the heavens and the earth, the creation of man, and the origins of rice. According to legend, rice’s origin is begins during the aftermath of a devastating storm thousands of years ago.30 The lands and rivers were flooded and food sources were scarce; every type of plant life was destroyed and no animals could be found. Seeing the hardships the... ...the fields during the monsoons would be almost impossible, and highly expensive. Other proposed remedies have their own specific costs and benefits, but as of yet no comprehensive, realistic solution has been developed.37 Until this occurs, the situation in China, and the world at large, gets worse by the day. At this point in time, there are no signs suggesting that China will abandon their â€Å"rice culture†, and weather and climate will both influence and be impacted by rice production for years to come. Scientific research is advancing by the day and we will eventually find a solution to this rice methane problem. Hopefully, this paper has been able to illustrate how important the dynamic relationship between rice, the weather and climate, and Chinese society, and how a subject that on surface may appear to be dull to some can be rather exciting and educational.

Introduction to Marketing M1 and D1

Introduction to Marketing – Comparing Marketing Techniques in H&Meting Techniques in Hollister and Primark For this assignment I was meant to write about Primark and Hollister. I am still basing part of my assignment on Primark. But, I have changed Hollister to H & M as I was unable to find any information on Hollister The information I found on Hollister the background I couldn’t find anything about aims and objectives and how Hollister market the business. The information I found on Hollister Hollister is an American lifestyle brand.The concept of Hollister was originally designed to attract customers between the ages of 14 to 18 as there prices are lower than the parent brand. Hollister clothing line was inspired by the parent brand SoCal. Hollister products are available in store across the world and online. Hollister was the second most preferred clothing on a list West Coast companies in 2008. The businesses I have chosen for this assignment are Primark and H&M. H &M Primark is an Irish clothing retailer, in Ireland Primark is known as Penneys.Primark have different store all around the world such as Portugal, Spain, Germany, the Netherlands United Kingdom and Belgium. Primark’s main headquarters are in Dublin. Primark first opened in 1969 on Mary Street in Dublin. Primark’s mission statement: â€Å"To supply quality clothing at prices perceived to offer real value. † Primark’s aims and objectives are: * To provide good quality products to customers. Primark want customers to know that they are an excellent company which provide good products for low prices. Primark achieve this by doing tests on their clothing and product to examine the quality of the goods they sell. Profit Maximisation * To sell products and clothing at reasonable prices. Primark want their customers to have a variety of clothing and product at suitable prices. Primark well achieve this aim by looking at what other high street store are selling and make their prices lower so they stay ahead of their competition. * To be helpful and friendly to customers and other employees. The customer of Primark like the atmosphere at Primark and service given this well make them to come back so therefore Primark well gain repeat customers. Primark will achieve this by greeting the customer as they walk in.By doing this Primark employees create an excellent atmosphere for customers as the greeting makes them feel welcome. * To treat everyone the same. A customer at Primark needs to feel that they are treated the same as any other customer at Primark. If a customer feel they are being treated differently to someone else they are more likely to shop somewhere else so therefore Primark well lose customers because the customer who thinks they were treated unfairly will tell their family and friends about their experience at Primark so word of mouth well have an impact on Primark.H & M’s mission statement: The aims and objectives of H & M are: H&M aims: * To show appreciation. * To encourage long-term commitment. * To promote future recruitment. * To strengthen H&M as an attractive employer. H&M have three mean marketing objectives the three objectives are: * To make the H&M brand name more well known by doing more promotion example more advertising. The H&M brand need to be more outstandingly outside of significant cities. In the USA more people are unaware of what H&M offer.So to gain more customers and beat their competitors H&M are advertising the brand in different way compared to their competition example H&M membership. If you are a member of H&M you can get text messages and email informing customers about the newest product H&M have. The H&M brand need to be well known as the more people know about the brand, the easier it is to expand such as more stores in more countries. * To focus on the fact which H&M’s regular sale prices are usually lower than their competitors.The second objective of H&M i s to focus a percentage of the advertising to the fact that H&M average sale prices are more regularly lower than their competition. H&M rely on nonstop focus on cutting cost. Also the officials in H&M buy the materials as cheaply as possible; H&M also need to keep their overheads low. All the advertisements focusing on H&M’s low price but good quality products. This helps keeps the H&M’s brand image in a positive light among their teenage customers while still stating that they are good value for money. To use economic slowdown as a possibility to expand by obtaining more low – cost venue and prepare for future economic growth. H&M want to expand in the USA by securing low cost venues. As the economic property market gets worse H&M which leases it’s will find it more straightforward acquiring prime locations at excellent period. This will give H&M an advantage when the property market picks back up. H&M use the opportunity to expand to low – price d venues for the future climb in the brand There are similarities in the way Primark and H&M market their products for example jeans.Primark market their new collection of jean on the internet by having â€Å"pop up† advertisements on line for example on if you have an email contact sometimes there are advisements. H&M advertise the same way as Primark but they also have television advertisements advertising for example a new pair of jeans. Also if you’re a member of the H&M you get emails to your email address informing the receiver about any new collections. Primark do give got leaflet or fashion books with the season’s current fashion in which can be found at the store.H&M do give their customer leaflets and booklets informing them of the season current fashion which H&M sell in store. For example the leaflet or booklet could be about all the different types of jeans H&M sell. It is also type advertising. If Primark were to give their customers leaflets and b ooklets they would gain more customers. H&M do competitions but H&M customers are only allowed to enter the completion once they have spent a certain amount of money at their store or on line.Primark don’t do competitions as their purpose is to gain customers by selling products cheaply. H&M give out vouchers to their customer and also do discounts at the end of season on their clothing this is a great marketing strategy because the customer knows that H&M want to make a profit but they also take the customers The two marketing tools Primark and H&M use are Market Penetration and Market Development. Market penetration is used in Primark and H&M. For example Primark and H&M sell clothing such as jeans tops dress coats jackets e. . which are existing products to existing markets. Using market penetration is a marketing strategy which the aim is that Primark and H&M Primark and H&M both use market development because the aim of market development is to sell existing products int o new markets. Primark and H&M have opened store around the world. H&M also distribute clothing in different ways. Example they have an order before 3pm and you get the product you ordered the next day. You can also order online and collect at the store which is local to you.Market development is a dangerous strategy compared to market penetration because market development target new customers and markets. To conclude this report I think that branding and (something else) are need in Primark and H & M in order for the business to be successful. Marking strategies are key in business in order to give the business structure. Introduction to Marketing – The Effectiveness of Marketing Techniques used by H&M Market penetration are customer know purchase a product.For example if someone was to purchase a limted edtion Anna Dello Russa at H&M . The market would be people in the UK who like limted edtion Anna Dello Russa at H&M. H&M would grow by the rising number of people in the m arket who have bought the dress at H&M. Market development is when a business sells an existing product to new markets such as new customers. So in the example of the a limted edtion Anna Dello Russa at H&M. H&M could sell limted edtion Anna Dello Russa Rangein America.The product wouldn’t have changed, the prouct is just being sold to a different market to different customers. One of the advantages of using market penetration is that H&M would offer lower prices for a specified period to attract new customers. The customers might not respond when the normal price returns. But during that period they will get more customers. A disadvantage of using market penetration is that it could result in reduced profitability. As when using market penetration H&M reduce pricing meaning they may result in profits being low.If H&M were to launch a new range the result in sales may not cover the adversiting coasts and distribution costs. As market penetration seeks to achieve four main obj ectives what are: * To maintain the market share of current products. * Secure dominance of growth markets. * Restructure a mature market by driving out competitors. * Increase usage by existing customers. The advantage market penetration is that it can be achieved by a combination of competitive pricing strategies, advertising, sales promotion and personal shopper.H&M do all of the strategies listed above they adviste on telvision and online and in local area by posters. For the more high end people they even offer a personal shopper service. H&M use market penetration to adviste the business to make it more known for example when H&M advertise they are letting there customers know what products they are selling H&M uses another objective of the market penetration to their advantage by increase usage by existing customers by having a loyalty scheme.H&M offer a store card to their customers when their customers use the store card they get discounts on certain products in the shop. * It identifies what customers want. Market development indenties what customers want. Market development is the name given to a growth strategy where the business seeks to sell its existing products into new markets. There are many possible ways of approaching this strategy, including: * New geographical markets; for example exporting the product to a new country * New product dimensions or packaging: for example New distribution channels (e. g. moving from selling via retail to selling using e-commerce and mail order) * Different pricing policies to attract different customers or create new market segments Market development is a more risky strategy than market penetration because of the targeting of new markets. The advantage of using market development is that H&M sell products such as clothing that all ready exists to new customers/ markets. Another advantage of market development is that H&M are selling clothing to new customers in different countries.The disadvange of doing th is is that ecomic changes can happen in the countries which H&M have expand to meaning that they will therefore may lose money and their share holders divident can go down. The disadvange of using market development is that it is risker than using market penetration. The reseach I did to come to the conclusion I have made can be found on these websites and in the books listed below: Bevan, John; Coupland-Smith, Helen; Dransfield, Rob. BTEC Level 3 National Business, Book 1. http://www. penetrating. net/ http://www. s-m-i. net/pdf/Business%20strategyntro. pdf Introduction to Marketing M1 and D1 Introduction to Marketing – Comparing Marketing Techniques in H&Meting Techniques in Hollister and Primark For this assignment I was meant to write about Primark and Hollister. I am still basing part of my assignment on Primark. But, I have changed Hollister to H & M as I was unable to find any information on Hollister The information I found on Hollister the background I couldn’t find anything about aims and objectives and how Hollister market the business. The information I found on Hollister Hollister is an American lifestyle brand.The concept of Hollister was originally designed to attract customers between the ages of 14 to 18 as there prices are lower than the parent brand. Hollister clothing line was inspired by the parent brand SoCal. Hollister products are available in store across the world and online. Hollister was the second most preferred clothing on a list West Coast companies in 2008. The businesses I have chosen for this assignment are Primark and H&M. H &M Primark is an Irish clothing retailer, in Ireland Primark is known as Penneys.Primark have different store all around the world such as Portugal, Spain, Germany, the Netherlands United Kingdom and Belgium. Primark’s main headquarters are in Dublin. Primark first opened in 1969 on Mary Street in Dublin. Primark’s mission statement: â€Å"To supply quality clothing at prices perceived to offer real value. † Primark’s aims and objectives are: * To provide good quality products to customers. Primark want customers to know that they are an excellent company which provide good products for low prices. Primark achieve this by doing tests on their clothing and product to examine the quality of the goods they sell. Profit Maximisation * To sell products and clothing at reasonable prices. Primark want their customers to have a variety of clothing and product at suitable prices. Primark well achieve this aim by looking at what other high street store are selling and make their prices lower so they stay ahead of their competition. * To be helpful and friendly to customers and other employees. The customer of Primark like the atmosphere at Primark and service given this well make them to come back so therefore Primark well gain repeat customers. Primark will achieve this by greeting the customer as they walk in.By doing this Primark employees create an excellent atmosphere for customers as the greeting makes them feel welcome. * To treat everyone the same. A customer at Primark needs to feel that they are treated the same as any other customer at Primark. If a customer feel they are being treated differently to someone else they are more likely to shop somewhere else so therefore Primark well lose customers because the customer who thinks they were treated unfairly will tell their family and friends about their experience at Primark so word of mouth well have an impact on Primark.H & M’s mission statement: The aims and objectives of H & M are: H&M aims: * To show appreciation. * To encourage long-term commitment. * To promote future recruitment. * To strengthen H&M as an attractive employer. H&M have three mean marketing objectives the three objectives are: * To make the H&M brand name more well known by doing more promotion example more advertising. The H&M brand need to be more outstandingly outside of significant cities. In the USA more people are unaware of what H&M offer.So to gain more customers and beat their competitors H&M are advertising the brand in different way compared to their competition example H&M membership. If you are a member of H&M you can get text messages and email informing customers about the newest product H&M have. The H&M brand need to be well known as the more people know about the brand, the easier it is to expand such as more stores in more countries. * To focus on the fact which H&M’s regular sale prices are usually lower than their competitors.The second objective of H&M i s to focus a percentage of the advertising to the fact that H&M average sale prices are more regularly lower than their competition. H&M rely on nonstop focus on cutting cost. Also the officials in H&M buy the materials as cheaply as possible; H&M also need to keep their overheads low. All the advertisements focusing on H&M’s low price but good quality products. This helps keeps the H&M’s brand image in a positive light among their teenage customers while still stating that they are good value for money. To use economic slowdown as a possibility to expand by obtaining more low – cost venue and prepare for future economic growth. H&M want to expand in the USA by securing low cost venues. As the economic property market gets worse H&M which leases it’s will find it more straightforward acquiring prime locations at excellent period. This will give H&M an advantage when the property market picks back up. H&M use the opportunity to expand to low – price d venues for the future climb in the brand There are similarities in the way Primark and H&M market their products for example jeans.Primark market their new collection of jean on the internet by having â€Å"pop up† advertisements on line for example on if you have an email contact sometimes there are advisements. H&M advertise the same way as Primark but they also have television advertisements advertising for example a new pair of jeans. Also if you’re a member of the H&M you get emails to your email address informing the receiver about any new collections. Primark do give got leaflet or fashion books with the season’s current fashion in which can be found at the store.H&M do give their customer leaflets and booklets informing them of the season current fashion which H&M sell in store. For example the leaflet or booklet could be about all the different types of jeans H&M sell. It is also type advertising. If Primark were to give their customers leaflets and b ooklets they would gain more customers. H&M do competitions but H&M customers are only allowed to enter the completion once they have spent a certain amount of money at their store or on line.Primark don’t do competitions as their purpose is to gain customers by selling products cheaply. H&M give out vouchers to their customer and also do discounts at the end of season on their clothing this is a great marketing strategy because the customer knows that H&M want to make a profit but they also take the customers The two marketing tools Primark and H&M use are Market Penetration and Market Development. Market penetration is used in Primark and H&M. For example Primark and H&M sell clothing such as jeans tops dress coats jackets e. . which are existing products to existing markets. Using market penetration is a marketing strategy which the aim is that Primark and H&M Primark and H&M both use market development because the aim of market development is to sell existing products int o new markets. Primark and H&M have opened store around the world. H&M also distribute clothing in different ways. Example they have an order before 3pm and you get the product you ordered the next day. You can also order online and collect at the store which is local to you.Market development is a dangerous strategy compared to market penetration because market development target new customers and markets. To conclude this report I think that branding and (something else) are need in Primark and H & M in order for the business to be successful. Marking strategies are key in business in order to give the business structure. Introduction to Marketing – The Effectiveness of Marketing Techniques used by H&M Market penetration are customer know purchase a product.For example if someone was to purchase a limted edtion Anna Dello Russa at H&M . The market would be people in the UK who like limted edtion Anna Dello Russa at H&M. H&M would grow by the rising number of people in the m arket who have bought the dress at H&M. Market development is when a business sells an existing product to new markets such as new customers. So in the example of the a limted edtion Anna Dello Russa at H&M. H&M could sell limted edtion Anna Dello Russa Rangein America.The product wouldn’t have changed, the prouct is just being sold to a different market to different customers. One of the advantages of using market penetration is that H&M would offer lower prices for a specified period to attract new customers. The customers might not respond when the normal price returns. But during that period they will get more customers. A disadvantage of using market penetration is that it could result in reduced profitability. As when using market penetration H&M reduce pricing meaning they may result in profits being low.If H&M were to launch a new range the result in sales may not cover the adversiting coasts and distribution costs. As market penetration seeks to achieve four main obj ectives what are: * To maintain the market share of current products. * Secure dominance of growth markets. * Restructure a mature market by driving out competitors. * Increase usage by existing customers. The advantage market penetration is that it can be achieved by a combination of competitive pricing strategies, advertising, sales promotion and personal shopper.H&M do all of the strategies listed above they adviste on telvision and online and in local area by posters. For the more high end people they even offer a personal shopper service. H&M use market penetration to adviste the business to make it more known for example when H&M advertise they are letting there customers know what products they are selling H&M uses another objective of the market penetration to their advantage by increase usage by existing customers by having a loyalty scheme.H&M offer a store card to their customers when their customers use the store card they get discounts on certain products in the shop. * It identifies what customers want. Market development indenties what customers want. Market development is the name given to a growth strategy where the business seeks to sell its existing products into new markets. There are many possible ways of approaching this strategy, including: * New geographical markets; for example exporting the product to a new country * New product dimensions or packaging: for example New distribution channels (e. g. moving from selling via retail to selling using e-commerce and mail order) * Different pricing policies to attract different customers or create new market segments Market development is a more risky strategy than market penetration because of the targeting of new markets. The advantage of using market development is that H&M sell products such as clothing that all ready exists to new customers/ markets. Another advantage of market development is that H&M are selling clothing to new customers in different countries.The disadvange of doing th is is that ecomic changes can happen in the countries which H&M have expand to meaning that they will therefore may lose money and their share holders divident can go down. The disadvange of using market development is that it is risker than using market penetration. The reseach I did to come to the conclusion I have made can be found on these websites and in the books listed below: Bevan, John; Coupland-Smith, Helen; Dransfield, Rob. BTEC Level 3 National Business, Book 1. http://www. penetrating. net/ http://www. s-m-i. net/pdf/Business%20strategyntro. pdf

Does fair play have an important role in competitive sport Essay

From the eon of gods and goddesses, they produce been competing in hail- match-well-met sword dissembles and through come forth clock time, it evolved into sports and even Olympics. From the time that sports were invented, the concept of bazar toy or sportsmanship was non yet discernible. But when sports were eventu alto shoothery considered of great importance, the concept of seemly approve became universally unders aliked. Basically, comely unravel is sportsmanship. For both(prenominal), some(prenominal) musicians and aesthesis of hearings a alike, consider it as the halcyon regulating in sports. In pretty mulct, you cut through your team up mates and opp unmatchablents as person you would like to be treated as.You testify respect for yourself, your team mates, and your touchs. You should in addition licence respect for twain coaches of the opposing teams and different important figures in the field like the umpires, judges and other officials. (Sa nders, 2005) But in modern times, it does not only use to the instrumentalists consequently, it now excessively applied to the pot watching the juicy. It now developed into an spot that may influence the workers, audiences and the jeopardize. (Sanders, 2005) In ever soy(prenominal) sport, at that place is always a failure and a coaxner.But, the greatness of the back upy relies on how the players played the sport. And consequently, their sportsmanship should likewise be app atomic number 18nt in their game. It is undeniable that lucrening feels great hardly be a sport has a great social function in a masters game. It understructure make or catch fire a game. Today, when sports run low an alley for talented players to find down superstars, the spirit of sports become plagued. In retrospect, we turn out to keep in mind that being a sport has its goodsand winning the game is one of it. While playing, playing attractive not only divine services to win a ga me plainly it as well as builds character.With the armed service of the coach, the athletes eject reach their highest potential and so, they become better players and human beings. (Fakehany) Since sportsmanship is an attitude, it overly teaches worth(predicate) lessons and builds character to a person. It has become a way of life two in and out of the field. And these very same attitudes help a person to be misrepresent not just in the judicature but in any case outside (i. e. corporeal life). How we play a game makes us introspective in a brain that it assists us to re-evaluate ourselves and reflect on our behaviors. www. yogiberramuseum. org, 2005) Sportsmanship is as well vital so as not subscribe to massive brawls and misunderstanding in a competition. Fair play creates a friendly atmosphere wherein athletes feces rightfully enjoy the game from the beginning until the end.Unconsciously, it creates the predilection of the entire game and it lessens the tendency of the players to allow arguments. It makes some(prenominal) the opposing teams feel as if that they are not competing at all but frequently of a friendly competition. Peak) Research analysts have similarly through studies wherein it supports that indeed, fair play is a work out to win or how the team approaches the game. Apologists of sports verify reiterate that fair play is a great way to avoid habituation and violence. For them, it is a mere socialization of the players with one another. And thus, it implies that because of fair play, players have much pleased and energetic strategy as compared with players who does not have a sense of sportsmanship. (GA. , 2005) Earlier, we have said that winning is a tough part of a game.But definitely, there are always two sides in a story. Generally, competitors view winning as unimportant but the more assertive view is that, it is the only thing. And, the main suit why we compete in a sport is to ultimately win the game. We u sually strive to win. This very same causation makes us ponder why fair play plays an important role in a competitive sport. Firstly, when we want to compete, we affect that our competitor depart also consume his/her one hundred percent and they provideing also strive to win.And to eventually win the game, both of you leave alone institutionalize your dress hat. When we give your best, alongside with it comes all your athletic ability and might hoping that in the end, you go away be successful. This is the mere essence of competition and sportsto winbut more importantly, to play the game fair. (Feigley, 2007) This doctrine is vice versafor the player to win, he must give his best so that his best will let him win. Additionally, when both players give their best efforts, there will always be another meet where the two of you will meet again.This will be an advantage on both parts because through this, you now both know the strengths and weaknesses of each other. And becau se of this, both of the players smoke now plan their strategies so that they stool beat the opponent next time they meet. And in so doing, they can also improve their skills and sports. In conjunction with such, the player must play fair so that both can give their best efforts that will eventually give them a sense of satisfaction. Also, as mentioned above, playing fair is also a form of socialization.When we interject into a competition, we should also bear in mind that after each after game, there will always be another chance wherein the two of you will meet again. It will also be an advantage to know your opponent not just on the court but more so, personally. You cannot just discuss your strategies but also, you can also create camaraderie, connections and friendships. This is an advantage for both players because you not only gave the audience what they are craving for but also, it also order of battles that you can be whelmed gracefully, which is applaudable in the a udiences rouse of view. existence a sport also gives the player a sense of self-improvement. Further elaborated, when the player becomes the loser, this gives him a lesson that he should constantly improve his sport or craft so that next time, he will win. Now, in view point of the winner, this does not believe that he should always be assured in his abilities. He should also be constantly honing his talent because there will always be someone out there that is better than him that might beam him one day.Fair play serves as a constant reminder for both the player to always sharpen their single craft to improve themselves and consequently, achieve their pristine goalwhich is, to win. Now, like mentioned from above, fair play does not only keep to the player. It should also apply to the other people that are prominent in a game like the coaches and other officials. There is no denying that coaches are a huge reckon to develop a character and sense of sportsmanship of a player. They serve as the elementary instructor which teaches us to be not just great players but also, as the ones that we take our basic course in sports.Now, since they are considered as the first teachers, it is undeniable that they should also serve as role models for players. Players should not be treated as the only stars in the game. The coaches and officials should also be a sport. This does not only faulting the harness of being a teacher but also, it conforms to the notion of fair play. Coaches should also be able to accept winning and defeat gracefully. This does not only move over respect from the audience but more importantly, they also earn the respect of their fellow coaches and officials.And when they have already earned that respect, they should also learn to repay it to their players. With every lesson or new technique or strategy that they teach their players, it should also be come with with the constant lesson that the players should also learn how to be lowly , or, in other words, be a sport. The whole concept of fair play will not be boom without being empathetic with the audiences. We have seen in televisions how the audiences react whenever their favorite soccer team makes a goal.The audiences should also have a proper etiquette whenever they watch their favorite team play. to a greater extent often than not, audiences get too excited for their teams and eventually, it causes chaos in more ways than one. The audience should also have a concept of fair play so that there will be no casualties (both physical and egoistical) in the end. solely like their idols, they should also learn to accept defeat gracefully and understandingly. The concept of fair play or sportsmanship has been a golden rule in the world of sports ever since time in memoriam.Basically, it only states that players should show respect and should be fair in following the rules of the game. non only should it apply for the players but also, for the coaches, officials and the audiences as well. Practicing fair play plays a great role in winning a game because it becomes a part of the whole game itself. Being fair implies a long responsibility not just for the players but also for the coaches, officials and the audiences as well. In playing fair, the player can re-evaluate his abilities and the strategies that he is employing if ever he losses a game.But this does not mean that the winner should now be always confident he should kind of expend more so as to hone his skills and so that, he can maintain his winning streak. Also, being fair builds camaraderie amongst players. For some, it is a form of socialization. Not only does it create friendships but also, it can also be a grounding of connections and a little bit of fame. Still, in a players point of point of view, it builds character. Generally, in sports, the coaches are considered as the first teachers of the athletes. They are the ones that should be prudent for how players behave and carry out the game.More importantly, they are the ones that sportsmanship should be highly telescopic because after all, they are the ones that created great, responsible and humble players. They should also know how to accept defeat gracefully because after all, in every game, there is always a winner and a loser. This should also be rightful(a) for the officials because it is in their hands that the whole lead of the game lies. Also, they are considered as the big boss in a game and consequently, they can serve as a door for opportunities and a great sport for the audience.Lastly, to make this whole philosophy be holistic, it should also apply with the audiences. Around the world, there have been hundred reports that a honest game between two rival soccer teams causes many casualties and even suspensions for both teams. Audiences should know how to act properly in a game and should not be over excited regarding their respective teams. They should practice the concept of spor tsmanship so that everything will be fair. In conclusion, the concept of sportsmanship has long been approximately and it is practiced since time in memoriam.It is an extemporary wherein it can save or break a game (or in some cases, even players and managers). Since it is a rule, it should be prize but there are also situations where it has been violated and the violators have paid their price. To break it down, it is just a simple rule but pertains a levelheaded send of responsibility and consequences. And these consequences are downright heavy so it is will be much better for the players to just practice this philosophy so as not to get their selves into a big trouble and peradventure one day, save their lives.