Compensation Plan Outline (Wal-Mart) Assignment

Remuneration Plan Outline (Wal-Mart) - Assignment Example Wal-bazaar is broadly known for its immense scope of chain stores that gives the world the best and generally reasonable and available types of innovation. It is all the more so known to give probably the most recent heavenly computerized types of innovation and different apparatuses that are essential for human use. Be that as it may, Wal-bazaar achievement has been holding tight the funds to be paid to its ongoing contention on its pay plan. Without a doubt this has not been easy and angering has it been for the organization to hold back its lost greatness. It is a result of this that this paper is composed to giving heavenly remedial measures on remuneration plan. Pay the executives is the vital procedure of adjusting pay, motivations and advantages of workers with the authoritative objectives and destinations (Bhatnagar,â 2004)). Remuneration the executives further targets connecting a worker and the association however a business relationship so that the Company accomplishes its destinations and methodology viably while the representative gets the opportunity to be repaid well for making it conceivable. A viable and reasonable pay to the workers is along these lines essential in guiding the representatives to the way of more noteworthy profitability and advanced yield. Wal-bazaar Company situated in United States is one of the top retail chain stores that were referred to consolidate pay plan as a component of its arrangement. This was done through sub paying the laborers while giving a protection plan to its representatives. Despite the fact that one could term the protection plot just like the best bundle for the workers of Wal-shop Company, the procedure didn't do much in expanding the Company’s benefit and profitability. Rather, an incredible number of Wal-shop representatives felt denied of what they would state were their own difficult work. In reality, Wal-shop Company was giving protection conspire as a major aspect of remunerating the representatives because of the approach of

Affirmative Action :: essays research papers

In its wild, about 40-year history, governmental policy regarding minorities in society has been both adulated and pilloried as a response to racial disparity. The arrangement was presented in 1965 by President Johnson as a strategy for changing segregation that had continued regardless of social equality laws and protected certifications. "This is the following and increasingly significant phase of the fight for common rights," Johnson attested. "We seek†¦ not only equity as a privilege and a hypothesis, yet equity as a reality and as a result." Concentrating specifically on instruction and employments, governmental policy regarding minorities in society strategies necessitated that dynamic measures be taken to guarantee that blacks and different minorities delighted in similar open doors for advancements, pay expands, professional success, school affirmations, grants, and monetary guide that had been the almost selective territory of whites. From the start, governmental policy regarding minorities in society was imagined as a brief cure that would end once there was a "level playing field" for all Americans. By the late '70s, be that as it may, defects in the arrangement started to appear in the midst of its well meaning goals. Turn around segregation turned into an issue, embodied by the celebrated Bakke case in 1978. Allan Bakke, a white male, had been dismissed two years straight by a clinical school that had acknowledged less qualified minority applicantsâ€the school had a different affirmations approach for minorities and saved 16 out of 100 spots for minority understudies. The Supreme Court banned resolute amount frameworks in governmental policy regarding minorities in society programs, which for this situation had unreasonably victimized a white candidate. In a similar decision, in any case, the Court maintained the lawfulness of governmental policy regarding minorities in society in essence. Energized by "angry white men," a reaction against governmental policy regarding minorities in society started to mount. To traditionalists, the framework was a lose-lose situation that opened the entryway for occupations, advancements, or training to minorities while it shut the entryway on whites. In a nation that prized the estimations of confidence and handling one's own problems, preservationists disdained the possibility that some unfit minorities were getting a free ride on the American framework. "Preferential treatment" and "quotas" became articulations of hatred. Significantly increasingly combative was the allegation that a few minorities delighted in assuming the job of expert casualty. For what reason could a few minorities who had additionally experienced horrible affliction and racismâ€Jews and Asians, in particularâ€manage to make the American route work for them without government freebees? Dissidents countered that "the place where there is opportunity" was a totally different spot for the European workers who arrived on its shores than it was for the individuals who showed up in the chains of servitude.

Reliability vs Validity All You Should Know About Them

Reliability vs Validity All You Should Know About Them Reliability vs Validity is always a big concern between the students mind. In this blog we are going to solve all your doubts between Reliability vs Validity. Lets get started:- What is Validity and Reliability? Summary What is Validity and Reliability?Reliability vs ValidityTypes of ReliabilityInterraterTest-retest ReliabilityParallel forms reliabilityTypes of ValidityConstruct ValidityHow are Reliability and Validity assessed?Role of Reliability and Validity In PsychologyWhat Are Validity and Reliability in ResearchValidity in ResearchReliability in ResearchMethods to improve the ValidityWays to Improve ReliabilityImportance of Reliability and ValidityConclusion Validity and Reliability are two crucial parts of several successful research. Several research scholars have come up with insightful techniques to outbuilding light on Validity vs. Reliability. When you write a thesis, the quality assessment of your research is created on two factors. According to the experts point of view, the procedure of measurement should be reliable for a study to be measured as valid. Reliability refers to the grade to which the research technique produces stable and consistent results. Reliability vs Validity Types of Reliability Interrater The degree of agreement between different people who experience or analyze the same object is calculated. Many scientists make the same test or analysis on the same specimen to assess the interrater reliability. Then you calculate the correlation between the results of their different sets. The high interrater Reliability on a test is based on the rating of the researchers. Test-retest Reliability The accuracy of the tests is calculated by repeating the same experiment on the same sample at a different time point. You use it when you calculate something in your test that you expect to remain constant. Parallel forms reliability You first need to build two parallel forms of parallel form consistency. One way to achieve this is to create a large set of questions that answer the same structure and then break the questions into two sets at random. All devices were given to the same sample of people. The comparison between the two complementary modes is the accuracy measure. Types of Validity Face Validity: Face Validity indicates that the test works to evaluate the possible framework under analysis. Stakeholders will quickly determine the legitimacy of the eyes. Though this is not a very scientific type of Validity, it can be a vital component in recruiting motivation of stakeholders Construct Validity Construct Validity is used to confirm that the test measures what is supposed to be calculated (i.e., the project) and no other variable. The use of a construct-familiar board of experts is a process in which this form of credibility can be tested. The specialists will analyze the products and choose to quantify what is expected for that particular item. In this phase, students can find it challenging to get their answers. How are Reliability and Validity assessed? The Reliability mat is estimated by comparing diverse versions of a similar measurement. Validity is challenging to assess, but it may be determined by comparing the results to other applicable theory or data. The estimating methods of Reliability and Validity are usually divided up into diverse types. Role of Reliability and Validity In Psychology It is a complicated process. The Psychology branch identifies two types of Reliability- external and internal. Experts are of the view that both the definition may be divided into external and internal factors. What Are Validity and Reliability in Research Validity in Research The validity act is to remain correct. Statistically speaking, the term validity suggests utility. It may be regarded as the most crucial yardstick that signals the degree to which research instrument gauges. There are mostly three kinds of Validity. Reliability in Research If a measurement is achieved repeatedly, the consistent result of the research element is Reliability. There are diverse techniques to measure whether a component is reliable or not. Some of the measuring components are test-retest, internal constancy methods, and other forms. Methods to improve the Validity Make sure your objectives then goals are definite and put in operation. Prospects must be written down.Get respondents involved; take the students to look over the assessment for difficult language, or other problems. Ways to Improve Reliability Use of appropriate questions to determine competency.Have a clear software setting. To ensure the test results are reliable, the test environment must be reasonable. Meaning that complete respondents take the same time to take the test and take a similar environment. Importance of Reliability and Validity Validity and Reliability are together very significant measures for examining the quality of measures. Though they are autonomous aspects, they are also somewhat related.Both are significant factors of psychological research educations. They allow us to increase firm and correct results. Along with helping us to simplify our answers to a broader populace. And in turn, relate research outcomes to the world to increase features. Conclusion Students write the assignment on Validity vs Reliability. And sometimes it is challenging and time-consuming. So the above information guides from writing to Validity and Reliability. If you are facing any problem writing the Validity and Reliability assignment. So you can take help from our company regarding any types of assignments and papers. Professionals are always available to solve your problem. Our company is providing the original content as compared to the other company with less price.

How Teachers Build Great Relationships With Students

The best teachers are capable of maximizing the learning potential of each student in their class. They understand that the key to unlocking student potential is by developing positive, respectful relationships with their students beginning on the first day of the school year. Building a trusting relationship with your students can be both challenging and time-consuming. Great teachers become masters at it in time. They will tell you that developing solid relationships with your students is paramount in fostering academic success. It is essential that you earn your students’ trust early on in the year. A trusting classroom with mutual respect is a thriving classroom complete with active, engaging learning opportunities. Some teachers are more natural at building and sustaining positive relationships with their students than others. However, most teachers can overcome a deficiency in this area by implementing a few simple strategies into their classroom on a daily basis. Here are some strategies to try. Provide Structure Most kids respond positively to having structure in their classroom. It makes them feel safe and leads to increased learning. Teachers who lack structure not only lose valuable instructional time but often never gain the respect of their students. It is essential that teachers set the tone early by establishing clear expectations and practicing class procedures. It is equally critical that students see that you follow through when boundaries are overstepped. Finally, a structured classroom is one with minimal downtime. Each day should be loaded with engaging learning activities with little to no downtime. Teach With Enthusiasm and Passion   Students will respond positively when a teacher is enthusiastic and passionate about the content she is teaching. Excitement is contagious. When a teacher introduces new content enthusiastically, students will buy in. They will get just as excited as the teacher, thus translating to increased learning. Exuberance will rub off on the students in your classroom when you are passionate about the content you teach. If you are not excited, why should your students be excited? Have a Positive Attitude Everyone has terrible days including teachers. Everyone goes through personal trials that can be difficult to handle. It is essential that your personal issues do not interfere with your ability to teach. Teachers should approach their class each day with a positive attitude. Positivity is transcending. If the teacher is positive, the students will generally be positive. No one likes to be around someone who is always negative. Students will in time resent a teacher who is always negative. However, they will run through a wall for a teacher is positive and continuously offering praise. Incorporate Humor into Lessons Teaching and learning should not be boring. Most people love to laugh. Teachers should incorporate humor into their daily lessons. This may involve sharing an appropriate joke related to the content you will be teaching that day. It may be getting into character and donning a silly costume for a lesson. It may be laughing at yourself when you make a silly mistake. Humor comes in several forms and students will respond to it. They will enjoy coming to your class because they love to laugh and learn. Make Learning Fun Learning should be fun and exciting. Nobody wants to spend time in a classroom where lecturing and note-taking are the norms. Students love creative, engaging lessons that grab their attention and allow them to take ownership of the learning process. Students enjoy hands-on, kinesthetic learning activities where they can learn by doing. They are enthusiastic about technology-based lessons that are both active and visual. Use Student Interests to Your Advantage Every student has a passion for something. Teachers should use these interests and passions to their advantage by incorporating them into their lessons. Student surveys are a fantastic way to measure these interests. Once you know what your class is interested in, you have to find creative ways to integrate it into your lessons. Teachers who take the time to do this will see increased participation, higher involvement and an overall increase in learning. Students will appreciate the extra effort you have made to include their interest in the learning process. Incorporate Story Telling into Lessons   Everyone loves a compelling story. Stories allow students to make real-life connections to the concepts that they are learning. Telling stories to introduce or reinforce concepts bring those concepts to life. It takes the monotony out of learning rote facts. It keeps students interested in learning. It is especially powerful when you can tell a personal story related to a concept being taught. A good story will allow students to make connections that they may not have made otherwise. Show an Interest in Their Lives Outside of School Your students have lives away from your classroom. Talk to them about their interests and extracurricular activities that they participate in. Take an interest in their interests even if you do not share the same passion. Attend a few ball games or extracurricular activities to show your support. Encourage your students to take their passions and interests and turn them into a career. Finally, be considerate when assigning homework. Think about the extracurricular activities occurring on that particular day and try not to overburden your students. Treat Them With Respect Your students will never respect you if you do not respect them. You should never yell, use sarcasm, single a student out, or attempt to embarrass them. Those things will lead to a loss of respect from the entire class. Teachers should handle situations professionally. You should deal with problems individually, in a respectful, yet direct and authoritative manner. Teachers must treat each student the same. You cannot play favorites. The same set of rules must apply to all students. It is also vital that a teacher is fair and consistent when dealing with students. Go the Extra Mile Some students need teachers who will go that extra mile to ensure that they are successful. Some teachers provide extra tutoring on their own time before and/or after school for struggling students. They put together extra work packets, communicate with parents more frequently and take a genuine interest in the well-being of the student. Going the extra mile may mean donating clothing, shoes, food or other household goods that a family needs to survive. It may be continuing to work with a student even after he is no longer in your classroom. It is about recognizing and assisting in meeting student needs inside and outside of the classroom.

Platos The Republic - 1054 Words

In Plato’s The Republic, the theory of appointing a ruling class is a major aspect in his political theory of a just state. As communicated through Socrates, Plato believed in the appointment of only a few citizens of the just city that possess a soul that craves all truth, knowledge, wisdom, and through proper education are competent enough to rule the just state and to decide on legislative policies. In my paper, I will be arguing against Plato’s political theory of who is best fit to be chosen as leaders to rule the just state. I will argue that Plato places too much confidence in the morals of citizens and that the soul is naturally rational and those who are chosen to lead will not necessarily uphold justice and make the right decisions. Placing the powers of democracy in the hands of the masses is more secure rather than designating power to only a selected few because the masses know what they want and know more for what is best for themselves. Although Plato was correct in requiring that leaders must be knowledgeable, but the best way to approach this problem is to not exclude people but that all people should be given the right to decide what is the greater good for their own societies. Citizens should have the right to appoint their own rulers based on their own knowledge. I will also argue that Plato’s political theory of the just state is ideal and not practical because it has not yet existed. In The Republic, Plato portrays his distaste for democracy, whereShow MoreRelatedPlatos Republic1243 Words   |  5 PagesIn Platos Republic, Socrates goes to great lengths to explain and differentiate between the ideas of opinion and knowledge. Throughout society, most common men are lovers of sights and sounds. Lovers of sights and sounds like beautiful sounds, colors, shapes, and everything fashioned out of them, but their thought is unable to see and embrace the nature of the beautiful itself (Republic 476b). The few who do recogni ze the beautiful itself are followers of the sight of truth, the philosophersRead MoreEssay on Plato’s The Republic1168 Words   |  5 PagesPlato’s The Republic In the simile of the cave We are asked to picture a group of people sitting inside a dark cave, their hands and feet are bound in such a way that they can only look at the back wall of the cave. Behind the chained prisoners a fire is burning, and between them and this fire a path runs along which men carry figures, the shadows of these figures are projected onto the back wall of the cave. The prisonersRead MoreEssay on Platos Republic981 Words   |  4 PagesPlatos Republic Plato, one of the most ingenious and powerful thinkers in Western philosophy, born around 425 B.C. Plato investigated a wide range of topics. Dominant among his ideas is an immense discourse called The Republic. The main focus of Plato is a perfect society. He outlines a utopian society, out of his disapproval for the tension of political life. Plato lived through the Peloponnesian War (431-404 BC), in which much of Greece was devastated. This created poverty and political confusionRead MorePlatos Republic3750 Words   |  15 PagesBook I What is justice? Why should we be just? Cephalus - Justice means living up to your legal obligations and being honest. - Socrates - Its like returning weapon to a madman.. hell kill people. Polemarchus - Justice means that you owe friends help, and you owe enemies harm. - Socrates - we are not always friends with the most virtuous, nor are our enemies always teh scum of society Thrasymachus , sophist - Justice is nothing more than the advantage of the stronger-- it does notRead MorePlatos Republic Essay896 Words   |  4 PagesPlatos Republic â€Å"the having and doing of one’s own and what belongs to one would be agreed to be justice.† (The Republic 434a) In other words the above statement means that justice, according to Plato, is doing only the tasks assigned to them by nature. This is the fundamental notion for his creation of an ideal city. It is both knowing what true justice is and where one belongs in the city that the ideal can be achieved. What this means to politics in the ideal city is that onlyRead More Platos Republic Essay1025 Words   |  5 PagesPlatos Republic In Plato’s Republic, Glaucon is introduced to the reader as a man who loves honor, sex, and luxury. As The Republic progresses through books and Socrates’ arguments of how and why these flaws make the soul unhappy began to piece together, Glaucon relates some of these cases to his own life, and begins to see how Socrates’ line of reasoning makes more sense than his own. Once Glaucon comes to this realization, he embarks on a path of change on his outlook of what happiness isRead MoreLessons of Platos Republic1714 Words   |  7 PagesPlato’s Republic aims to teach us that justice, in itself, is worthwhile, and that it is better to be just than unjust. It is better to be just than unjust for the just person avoids a life of misery, and the just person lives a happy life. It also goes so far as to teach the value of moderation and self-control to citizens of democracy and democracy itself. In trying to create the argument of why it is better to be just than unjust, Plato first creates an analogy of the state/city to individualsRead More Platos Republic Essay4438 Words   |  18 PagesIn reading the Republic, there is no reason to search for arguments which show that Platonic justice (inner justice or psychic harmony) entails ordinary justice. The relationship between inner justice and ordinary justice is of no importance in Platos Republic. We note that Plato tries to argue from the very first book that the true source of normativity lies in knowledge attained by philosophical reason. What is crucial, then, is the relationship between inner justice and acts which bringsRead MorePlatos The Republic and The Apology1714 Words   |  7 Pages In Plato’s The Republic and The Apology, the topic of justice is examined from multiple angles in an attempt to discover what justice is, as well as why living a just life is desirable. Plato, writing through Socrates, identifies in The Republic what he thought justice was through the creation of an ideal city and an ideal soul. Both the ideal city and the ideal soul have three components which, when all are acting harmoniously, create what Socrates considers to be justice. Before he outlines thisRead MoreJustice in Platos The Republic Essay527 Words   |  3 Pages Plato creates a seemingly invincible philosopher in The Republic. Socrates is able to refute all arguments presented before him with ease. The discussion on justice in Book I of The Republic is one such example. Socrates successfully refutes each different view of justice presented by Cephalus, Polemarchus, and Thrasymachus. Socrates has not given us a definitive definition of justice, nor has he refuted all view s of justice, but as far as we are concerned in Book I, he is able to break down the

Market Segmentation Free Essays

Division of marketing for Kit Kat – chocolate bar, into geographic , demographic, psychographic and behavioural segmentation. Geographic segmentation The market is broadly divided into Urban (cities and towns) and Rural (villages). Kit Kat caters the high urban need by making products available that too with a variety with the help of which the rural crowd can be kept attracted. We will write a custom essay sample on Market Segmentation or any similar topic only for you Order Now Rural needs are also kept in mind and there is nothing even required for Kit Kat to make an effort to attract rural crowd because of the price. Kit Kat’s price is very reasonable that attracts rural crowd and gives them proper quantity of chocolate as well be it the two-finger Kit Kat or the four-finger. Since Kit Kat has its price stable and has a very minor change in its price, it can still target the rural crowd by making them aware that compared to their competitors Cadbury their product is cheaper and much affordable. Demographic segmentation With the youth population getting larger, Kit Kat looks to take an advantage of that. They have also segmented the market for children, adults and aged people. Kit Kat is a type of a chocolate that is light and can be consumed by every age group. Majority of the customer base in market comprises of middle class and upper middle class. But income groups have never been a concern for Kit Kat, the prices of Kit Kat have been stable for decades and the prices are such that any income group can afford it. Psychographic segmentation How to cite Market Segmentation, Papers Market Segmentation Free Essays Introduction: Market Segmentation: Market segmentation is the process of dividing the market into parts that are different from one another. It is the identification of potential customers who would buy your products. Different customers have different needs and it is not possible to satisfy these needs by treating all customers in a similar way. We will write a custom essay sample on Market Segmentation or any similar topic only for you Order Now Most organisations do not have all the resources to satisfy the needs of all the customers. Therefore, it is necessary to identify the similar groups of customers and to serve one or two group with the available resources. When market segmentation is done well the members in each segment of the market are as similar to each other as possible inside a segment and are also as different as possible among segments. Levels of market segmentation: 1. Mass Marketing: providing the same product to all consumers. Example: Salt. 2. Segment marketing: providing different products to many segments. 3. Niche Marketing: providing different products but to sub segments. 4. Micro-Marketing: providing product which are preferable to individual choices. Segmentation Variables: There are four important bases on which market segmentation are carried out amongst consumer markets. They are as follows: * Geographic * Demographic * Psychographic * Behavioural Geographic segmentation: This kind of segmentation divides the market on the basis of geographical area. Marketers use geographic segmentation to divide the markets in geographical areas in order to be able to provide products to consumers depending on their different needs. Different geographical areas have different needs and wants. For example, people living in a village will not have the same needs and wants as the people living in a city. Therefore, it is important for marketers to divide the markets into geographical areas. This can be done by region, size, climate, population, etc. A geographical area can be a city, country or just a small area in a city depending on the requirements and the similarity of consumer needs and wants. For example, McDonalds’ is a global organisation selling burgers in so many countries. It is known for its beef burgers but McDonalds’ in India does not sell beef burgers instead selling chicken burgers as it is against the Hindu religion to eat beef. Demographic segmentation: Demographic originates from the word demography which means the study of population. This segmentation is done by dividing the market into parts based on the age, gender, income, family lifecycle, education, ethnicity, nationality, religion, etc. Demographic variables are one of the most popular for segmenting consumer groups. As these are common variables differentiating the needs and wants of people. Your browser may not support display of this image.  ©Created by Pooja Mirani. Examples of demographic segmentation include: Huggies diapers which provide an example for the age demographic segmentation as they produce products (diapers) for kids. Also Marketers focus on the affluent market segments depending on the income, a good example is designer brands like Louis Vuitton providing luxury goods for consumers earning higher income. Gender segmentation is mostly used in the cosmetics industry or the clothing industry or even magazines, for example vogue has a separate magazine for men, i. e. â€Å"Vogue Men’s†. Psychographic segmentation: Psychographic segmentation divides the market on the basis of personality, social class and lifestyle. Lifestyle segmentation involves dividing the market depending on the way people live. Marketers divide these segments on the basis of Activities-Interests-Opinions of the consumers. This includes what the interests of the consumers are, what the consumers prefer to buy and where he /she buy it from. Social Class is particularly based on the occupation of the consumer. This is divided into various classes such as: 1. Upper middle class 2. Middle class 3. Lower middle class 4. Skilled worked class 5. Working class 6. Subsistence Personality segmentation is the development of products based on personalities in order to match the target consumer personality. For example, sports products are used by people having a sports personality. Behavioural segmentation: Behavioural segmentation refers to the purpose of a consumer buying a product or service. It is simply the benefit a customer seeks from a product he/she buys. Every customer looks for different benefits from different products. For example, a customer could seek various benefits from toothpaste purchased. Some buy it for teeth whitening, some for gum care, some to control tartar, some to freshen breath. Hence, the marketer needs to understand and segment the benefit sought by each customer. Some more examples of behavioural segmentation include, airlines divided into first class, business class and economy class. Similarly restaurants have non-smoking seating as well as smoking seating. Based on these factors appropriate marketing mixes can be developed. There is another variable under the behavioural segmentation which is occasion. This determines the need for the product on the right time or occasion. For example, Christmas trees have the maximum demand during Christmas. Also the rate of usage of a product is another important variable. It divides the users into light, medium and heavy users. The marketers must aim to attract the heavy users as they provide most of the business. Targeting: Targeting is the second stage of the segmenting-targeting-positioning-process (STP). Targeting takes place after a marketer has divided the market in to segments (segmentation). Targeting is understanding the needs and wants of the market segment and using the resources to meet these needs. In the process of targeting the marketer needs to select one of the segments of the market and use its resources to satisfy the needs and wants of that particular segment of the market. There are different targeting approaches depending on the type of target markets. They are as follows: Your browser may not support display of this image. Source: http://www. marketingteacher. com/Lessons/lesson_targeting. htm The first approach is about a single product and a single segment of the market as shown in the above figure. This approach deals with just one target market and aims to produce one product to fulfil the demands of that particular market. For example: Benson and Hedges manufactures tobacco (cigarettes) for one market segment which is smokers. They produce cigarettes which are consumed only by smokers. Hence, their target market is smokers. Therefore, they need to identify the needs and wants of smokers and come up with appropriate marketing mixes. This also includes customized products for individuals. An example of this is Levis Strauss, which makes personalised jeans for women. These are blue jeans customized to an individual’s preference of size and fit. Other examples of customized products include NikeiD custom shoes which allow its customers to design their own shoes. Your browser may not support display of this image. Source: http://www. arketingteacher. com/Lessons/lesson_targeting. htm The second approach is when one product is produced to satisfy the needs of many segments of the market. It is the one with single product and many segments. This can be related to mass marketing where one product is aimed at the entire market. Example: budget airlines like Easy Jet which provide cheap flights to many segmen ts of the market. Nokia is another example which manufactures mobile phones for various different market segments. Your browser may not support display of this image. Source: http://www. marketingteacher. com/Lessons/lesson_targeting. htm The third and last approach is the multi-segment approach. This includes the marketing of many different products within one organisation to target several segments of the market. This example is very common with big brands which usually gain success in one product and then expand more differentiated products involving much more segments of the markets. Sony is a good example as they provide many different products for different target markets. Such as Sony Laptops, Digital cameras, Television, gaming, mobiles, etc. Also another potential example is Virgin which has various divisions targeting many segments in the market. Some of which include Virgin media which serves as a mobile and broadband company, Virgin Atlantic consisting of airlines, Virgin Active which provides gym and health care, and many more. This in marketing terms is also known as diversification. Positioning: After dividing the market into segments and identifying the target markets, it is important to develop a marketing mix with the help of the positioning strategy. Marketing Mix: The marketing mix consists of the 4p’s of marketing which are used by marketers to achieve their objectives relating to the target market. The variables of the marketing mix must meet with the needs of the target markets. These in other words are the ingredients of the offerings you make to the consumers. The elements of the marketing mix include: * Price: This determines the price of your product which is very important. It has to be compared to the price of your competitors. This being the only element in the marketing mix which creates revenue carries a lot of importance. It is quite difficult to determine the price; hence there are various strategies that can be used. o Market Skimming: high price and less supply Market penetration: low price and high supply Your browser may not support display of this image. Source: http://www. learnmarketing. net/marketingmix. htm * Product: This element is simply meeting the requirements of the target market in relationship to the desired product. It is necessary to identify the wants and needs of the target market and to develop the product according to these. This can be done w ith the help of the benefit sought variable of the behavioural segmentation which we saw earlier. Identifying the benefit sought from the product by the consumer it should be developed appropriately. Also the company needs to know what the unique selling point is about their product which is different from the competitors. * Place: this refers to the distribution of the product by the company or business. Basically it is the location of the place where the products will be available to the consumers. There are different channels of distribution as shown in the diagram below: Your browser may not support display of this image. Source: http://www. consumerpsychologist. com/distribution. html * Promotion: Promotion can take place in the form of point of sale promotion, sponsorships, etc. The benefits of goods and services needs to be told to the target market through promotion which could be through advertising through media, public relations is done by maintaining good relations with the media, sales promotion which is basically providing offers, coupons and so on for a short period, mailing by sending e-mail to large amount of people. This can be done now-a-days by purchasing databases. Positioning is how products appear compared to other products in the market. The main aim of positioning is to find out competitors position in the marketplace. The products of competitors are positioned on the basis of their understanding of the needs and wants of the customers. Positioning is an important tool which helps the company to place an image of the product they are selling. This is very important as it decides the sale of the product. It is important for a company to define its product or service on the basis of the following: * Pricing: It is very important to define the price of the product for the customers to know if it is a luxury product or in the middle. * Quality: Does the product have a good quality? When it is referred to a food product this factor is most important. It is important to provide the calories level, fat level, etc. Give the information about product warranty, return policies, etc. * Service: Do you provide customer service? * Distribution: Where is your available to customers? * Packaging: This makes an impact on the customer the most. The more attractive the product looks, the more people are willing to buy it. Positioning includes Brand positioning which is done with the help of a perceptual map shown below depending on the price and quality of the product: Your browser may not support display of this image. Source: http://tutor2u. et/business/marketing/brands_positioning. asp Segmenting business markets: Segmenting is also carried out amongst businesses who sell their products to other businesses and not consumers. Segmenting a business market helps a company to analyze the market, select the finest markets for targeting, and then supervise marketing programs. The selection of the target markets for businesses is done in the same way as it is done for the consumers. But the segmentation process has some differences which include: a detailed understanding of the purchase process which is very different from the consumer market. Also there are differences in the basis for segmentation and execution of segmentation. Demographics: Demographic segmentations also known as â€Å"firmographic† segmentation in the business to business markets are practical and may be enough. The gears of demographics in business to business segmentation include the size, the growth prospective and the location of the targeted process. This kind of segmentation often is not very difficult as the scope of competitors is few and it is not very restricted to copy. Unlike, behavioural segmentation needs to personalize and individualize products. In this kind of situation it is very important to understand the needs of the target market but it is also important to know whose needs to take under consideration, the needs of the consumers or the needs of the production team? In this segmentation it is essential to group segments into industry types in order to understand the wants of the industry as a whole and develop a marketing mix that meets the requirements. This can also be done using the cluster analysis. Businesses need to understand the size of the buyer business and mould their goods accordingly. For example, Xerox would not use the same amount of resources for selling a copier to a small business owner as to how much it would use for selling thousands of copiers to a big firm. Purchasing approaches: The needs of a business firm are well understood with the help of its purchasing process such as the power of buying products, the policies of purchasing, purchasing criteria. Depending on these factors there is a requirement for different marketing efforts. There are two stages in the purchase process, the first time buyers and the long time users. Both of these buyers have different expectations from the supplying business. It is important to understand the stage of the firm to choose the right marketing approach. Factors based on situations: As seen in the consumer market situation affects the market segmentation, it is also prevalent in the business market segmentation. Urgency of delivery or demand of the product can affect the segmentation of the market. Benefits of STP (Segmentation-Targeting-Positioning) process: The process of STP allows an organisation to gain a competitive advantage in the market. Due to segmentation and targeting limited resources are used for the best purpose, targeting only those segments which provide potential customers. This process allows the company to understand the potential and actual customers. A detailed understanding of the market allows the company to develop a suitable marketing mix which is appropriate for the needs and wants of the target market. When a company knows its market well, it is able to identify competitive products and develop responsive products. For example: after the launch of I-Phone most of its competitors which target the same market produced mobile phones similar to the I-Phone like the Blackberry storm. Conclusion: Successful companies need to understand the markets they serve and have to compare and contrast their marketing mix to the needs and wants of their market in a process which is target marketing. * Segmentation is the division of the market into small group on the basis of similar needs and wants in order to understand the requirements for the marketing process. * The process of target marketing is very important for business because it helps them understand and identify their potential customers giving them the opportunity to develop their marketing process or approach suitable to the needs and benefits sought by these potential customers. This not only reduces the wastage of resources but also increases turnover. * Positioning is the process of displaying a product to a consumer. It includes advertising, creating an image of the product for the consumer. Effective positioning is when the company can tell what the consumer thinks about its products in comparison to those of the competitors. * Segmentation for business to business markets can be done in the way as for the consumer markets in all most all ways. But some bases for segmentation for the business markets involve demographics, purchase approach, situational factors, etc. References: * Kotler, Philip, 1997, Marketing Management, 9th edition, pp. 249-268. * David Parmerlee, 2000, Auditing markets, products, and marketing plans, McGraw-Hill Professional. * Marketing best Practices, 2004, Second Edition, Thomson South Western. * http://tutor2u. net/business/marketing/brands_positioning. asp on 4th December 2009 at 15:17:34 * http://tutor2u. net/business/marketing/brands_positioning. asp on 9th December 2009 at 19:45:23 * http://www. b2binternational. com/library/whitepapers/whitepapers03. php on 10th December 2009 at 16:19:30 * http://www. usinessplans. org/Segment. html on 29th November 2009 at 13:10:40 * http://www. consumerpsychologist. com/distribution. html on 9th December 2009 at 17:19:54 * http://www. marketingteacher. com/Lessons/lesson_targeting. htmon on 3rd December 2009 at 14:15:14 * http://www. markmedia. org. uk/psychographic_segmentation. htmon 1st December 2009 at 15:08:05 * http://www. netmba. com/marketing/market/segmentation/ on 1st De cember 2009 at 18:17:02 * http://www. tenonline. org/art/mm1/9305. html on 3rd December 2009 at 18:18:28 How to cite Market Segmentation, Papers Market Segmentation Free Essays Market segmentation Market consists of large number of actual and potential customers. The process of splitting the market into different groups or segments based on the needs, characteristics or buyer behavior is called as Segmentation (Kotler, Brown, Adam, and Armstrong, 2007). Singapore Airlines (SIA) has used traditional approach adopted by legacy carriers for segmentation. We will write a custom essay sample on Market Segmentation or any similar topic only for you Order Now SIA focuses on business travelers and the price sensitive leisure travelers. The business paradigm of SIA has clearly differentiated these two segments by catering to their heterogonous need. In order to penetrate their existing market and expand their revenue base they are also focusing on additional segment based on consumer loyalty. The increasing revenue of SIA has been depicted in appendix 1. Detailed analysis of segmentation strategy used by Singapore Airline is given as below: Psychographic variables Preferences: The two major groups of business and leisure travelers differ in their preferences. It’s believed that on an average in aviation industry elite travelers contribute up to 50% of revenue though they add up to less than 20% in passenger number (Brancatelli, 2009). Hence the preference of this particular segment (Business travelers) is given additional importance. They are given exclusive in-flight service with respect to variety of cuisines being served, exotic drinks and special seating comfort (Wirtz and Johnston, 2003). At the same time since the other segment i. e. the leisure travelers form the major chunk of passengers their preferences also cannot be ignored. They too are given in-flight services which can be termed best as per industry practices. Nature of demand: Since the nature of demand varies with respect to business and leisure travelers it is used as a parameter for discriminator analysis. Business travelers demand more working space, internet and telephone connections whereas leisure travelers demand more in-flight entertainment features (Singapore Airlines, 2009) Behavioral variables: Brand loyalty: Customer loyalty can also be used as a basis for market segmentation (Kotler et al, 2007). SIA has also segmented their market on the basis of customer loyalty. Retaining an existing customer goes a long way in bringing in additional revenues for the company and this is exactly the reason why SIA has chosen loyalty as a variable for segmentation. SIA gives KrisFlyer and PPS club membership to their loyal customers in a bid to retain their loyalty. KrisFlyer silver group members, enjoy certain privileges such as they are allowed to fly on short notice even if the reservation is not confirmed. Similarly PPS club members are given privileges like free accident and travel insurance, increased baggage allowance etc. Singapore Airlines, 2009) Targeting Target marketing basically refers to the division of the market into various different segments and then focusing on prominent and significant key segments (Kotler et al, 2007). SIA targets customers based on lifestyle, income group and social class. Lifestyle SIA targets segments based on lifestyle (Murali and Murali, 2008). SIA ensures that customers, who give more importance to comfort and luxury , have a great experience on board. SIA places special focus on high end and discerning customers and targets customers accordingly. Income Group Income group is also used as a parameter for targeting customers (Murali et al, 2008). SIA is a premium airline which focuses on providing value based flying experience to the customer and it comes with a heavy price tag. Hence, SIA aims to tap the high and middle income groups which are more likely to pay for quality. Social Class SIA also targets customers based on their social class. Every social class has beliefs and attitudes, which shapes their buying behavior (Kotler et al, 2007). People belonging to the elite class will go for a high end brand, so being a luxury airline SIA targets the high social classes. Positioning Positioning can be defined as the process of framing the image of a company in the view of the target market, based on the products and services offered (Kotler et al, 2007). SIA positions itself as a premium luxury carrier. SIA portrays itself as an airline that provides all the luxuries that one may desire while travelling, be it comforts, a hospitable crew or an overwhelming in-flight experience. The primary message used by SIA, is self explanatory; A Great Way to Fly (Singapore Airlines, 2009). The marketing strategy has been consistent all the way, the message that SIA wants to send across to the target market is that; it is the best airline in its segment. SIA joined the Star Alliance in 2000, which is the first and the largest airline alliance of its kind (Singapore Airlines, 2009). The â€Å"Singapore Girl† strategy was a very influential idea that gave SIA the push it needed and went on to become a very successful brand icon (Roll, 2009). This brand personality of â€Å"Singapore Girl† further helps them reaffirm their position as an airline which provides high level of hospitality. Brand positioning for SIA is depicted in the diagram shown below. The strategy adapted by SIA is to position themselves as a high quality and high value brand and especially with the â€Å"Singapore Girl† concept they show the level of hospitality offered to the customers. SIA positions itself away from the competitors in every class, be it economy class, business class or first class. In the above diagram; AIQ – AirAsia ALK – Srilankan Airlines DLH – Lufthansa SIA – Singapore Airlines In the current scenario, where premium airlines are cutting down onboard services to reduce prices in order to compete with the low-cost carriers, SIA continues to maintain their brand image. The management of SIA believes that there are customers willing to spend a good amount for quality products and services (Roll, 2009). So looking for high end customers is not an issue, rather their job is to position the brand in such a way that customers get attracted to fly on SIA, and so far SIA has been able to create, what they refer to as the Wow Effect (Wirtz et al, 2003). How to cite Market Segmentation, Papers Market Segmentation Free Essays Market segmentation is defined as a company which are trying to divide the market into different parts according to its distinct needs,resources,locations and buying attitudes. It have four main tpoics:segmenting consumer markets,business markets,international markets and requirements for effective segmentation. I think the most interesting part of market segmentation is consumer markets segmentation. We will write a custom essay sample on Market Segmentation or any similar topic only for you Order Now Different consumers have different needs according to geographic,demographic,psychographic and behavioural variables. If the consumer markets can be divided extinctly according tothose four parts, it will become easier for the company to meet the different needs of the consumers to raise the efficiency of the company and can also make their production comprehensive. It is a good way to improve the economic level of a company. Market targeting is the step after market segmentation. After the market is divided into different part, the company will evalute the various segments, trying to decide how they can serve the segmens best. I also has three factors: segment size and growth,segment structural attractiveness and company objectives and resources. In my opinion, I think the factor that empahsize on company’s obkectives and resources is the most interesting part. Although the company may have the ambitious to develop its market in a very attractive segment, it is likely to be dismessed becaused of the limit of the cmpany’s resources and objectives. If the company lack the skills or the company ignored its long-run objectives, it is hard to succeed. Position is the way the product is defined by consumers on important attitudes. The place the product occupies in consumers’ mind is accordng to its competing products. Consumers nowadays like to buying products according to the brand position in their mind, such as safety, confort, luxury and so on, which I think is a way I am interested in. According to this phenomenon, the company care trying to establish their own brand image in the consumers mind in order to attract them. I think the most difficult thing for me to understand in market segmentatin is how a company can divide so many consumers in different groups. Because in todays society, peoples needs are various, it is hard to gather everyone’s interest in one place. Also in position, i is hard for me to underatand how a company can extinct themselves with thier compete company with the brand. It is usual for people to compare the products before they buying them. What can we do to make the consumers choose our product with the brand in the consumers’ mind? How to cite Market Segmentation, Papers Market Segmentation Free Essays KFC Marketing Segmentation: Geographic: The perfect place for KFC to do business is in the city because people are gathered there including people from the countryside. So the busiest blocks where there are people passing by 24 hours a day are KFC’s targets. Moreover, by positioning the store in the capital city Phnom Penh and a touristic city as Siem Reap, KFC can benefit from the excessive amount of labor force and a less expense on delivering raw material to each branch. We will write a custom essay sample on Market Segmentation or any similar topic only for you Order Now Beside targeting the city as its distributing place, KFC also looks for the place that is near schools and shopping center. Most students who are just finished their classes will feel exhausted and starved so they will seek for the nearest and fastest food supply available around them. In Cambodia, people usually go to the shopping center to do window-shopping or just hanging around with friends. The only thing that they most likely to buy is food which is tasted differently from the everyday meal they always have so the best choice for them is fast food and the new menu that KFC brought. (find the prove , all KFC location and the result compare to the one which don’t) Demographic: A worldwide restaurant like KFC is targeting people in all nationalities. All age groups are KFC customers but the most beneficial one is 15-64 years old, which held a largest proportion in Cambodia’s population. Most teenagers at the age of 15, high school student, are mostly likely to attract to KFC because of their taste preferences and the willing to pay. Even if they don’t get their own income, they get the allowance from their parents. As they are not the one who works, money to them is easy to find and to spend. For middle age people who are becoming more and more hectic day by day will most probably turn to have lunch outside. Therefore KFC has developed a menu that consist rice and chicken, which is suitable for this white-collar worker. For those baby boomers and late adults who enjoy time with their grandchildren always fulfill the kids suggestion so KFC designed a family set and offer many souvenir like a cup, plate, and toy to attract the children. Besides segmenting the customer according to their age groups, KFC also consider the religious like Muslim groups. The only fast food restaurant that Muslims can go is KFC. According to their religious belief Muslims are allowed to eat the food that contain halal sign. By having these additional groups, KFC has bigger market than its competitors. As we all know, more than 40% of the Cambodian population is still covered by poverty, which means that 40% of the population has low income and fried chicken at KFC is pretty expensive so KFC’s targets are people with middle class income. Psychographic: The customers that KFC are interested are people who likes going out with their families and friends and also people who likes to experience new foods and taste. Judging from the place KFC located, they also target people who like to eat after school and people who like to shop. Behavioral: KFC sells more at the weekends. People also go to KFC after they finish their exam or just leave their workplace after finish a hard project. KFC to them is like a place where they can gather and make a small party. Because of the new Free Wifi, KFC is becoming like a cafe where people come and discuss and relax. How to cite Market Segmentation, Essay examples

Law of Business

Questions: We will begin your tutorial by welcoming you to Law 1117 Torts 1. The tutor will make some general comments on the prescribed and recommended texts. You will be invited to discuss your expected learning outcomes from Law 1117, and your tutor will review the unit plan, and the study guide with you. We will also briefly consider the questions set down for the Week 2 tutorial. In your week 1 readings and in the lecture, the function and purpose of the law of torts was examined. It is clear that a fundamental aim of the law of torts is to provide compensation for injury suffered. Consider the following scenarios, which are taken from real cases which we will be reviewing over the next couple of weeks (if more information is required to answer the questions, then identify what further information is required and why this further information would be relevant): a). Helen is waiting at a station to catch a train. Two men run up to a departing train, carrying a package. The railway guards try to help them get aboard, but the package is dropped. The package contains explosives. The package explodes when dropped, causing some scales on the platform to fall over on top of Helen. Can Helen sue the railway company successfully, and if so, why? b). Nadia is drunk and falls off a cliff in a national park, causing her to become a paraplegic. Can Nadia sue the park manager successfully, and if so, why? c). At a cricket match, a batsman hits a cricket ball over a seven foot high fence and the ball strikes Bessie, who is standing outside her house across the road from the cricket ground. Can Bessie sue the cricket club successfully, and if so, why? d). Edward receives HIV infected blood during a blood transfusion. Can Edward sue the blood-bank successfully, and if so, why? Answers: a) Issue- In this case, Helena was waiting at the station when the railway guards were helping two men two to board the train. In a hurry, they dropped a package-containing explosive, which exploded and caused injury to Helena. The issue, in this case, is whether she can claim damages for the injury sustained by her due to the explosion. Rule- Section 5B(1) of Civil Liability Act 2002 states that a person will be held liable for the injury caused by him failing to take necessary steps of precautions against the risk, which was easily foreseeable by him, he knew the risk was significant and any reasonable, prudent person would have taken the necessary precautions against such risk[1]. Section 5B (2) of this Act states the following considerations to ascertain whether the person has acted reasonably and had taken reasonable precautions against the risk of harm- the probability of the occurrence of the harm if due care and precaution are not taken, the degree of seriousness of the harm, the burden of taking the necessary precaution to ensure that the risk of harm is avoided, the social utility of the action, which created the risk of harm[2]. Application- In this case, the two people were aware of the fact that they were carrying explosives in the bag which is a dangerous object and is very likely that it would cause harm if it is not handled with due precautions. The railways guards were helping them so it is understood that even they were aware of the explosives. Thus, they were not supposed to make hurry with such dangerous articles as the consequence of the explosion is very serious. They must have observed reasonable precaution while handling with them as the harm is easily foreseeable by any prudent person[3]. Conclusion- The logical conclusion is the railway authority is guilty of tort for failing to undertake the duty of care. It was their duty to inspect the bag and should have acted accordingly as explosions are not supposed to be carried in public transport and if it carried then, it must be carried with due care and precautions. As the explosion was due to the failure of duty of care Helen can file a suit against the rail authority and can claim for damages[4]. b) Issue- in this case Nadia was drunk and climbed on a cliff in the National Park. He accidentally falls from there and suffered from the paraplegic. The issue, in this case, is whether Nadia can file a suit against the Nation Park manager. Rule- Section 5L of this Act says that no person will be entitled to compensation for the harm caused due to the act or the omission of the act when at the time of the act or omission the person was intoxicated. The degree of intoxication will be held reasonable when such intoxicated person will be unable to exercise reasonable skill and care. However, this Section provides an exception to those people to whom the alcohol was induced without his knowledge and was not self-induced. Moreover, in the cases where the plaintiff can prove that his intoxication was not the cause of the harm inflicted or did not contribute in any way for the occurrence of the harm[5]. Application- In this case, Nadia was intoxicated when he climbed the cliff so he will not be entitled to any compensation if he files a suit against the National Park Manager. The National Park manager had not induced him the alcohol nor he had acted in any way that could inflict harm on him. It was very natural that he had fallen off from the cliff due to the intoxication[6]. Conclusion- Thus we find that the National Park manager will not be liable to pay the compensation to Nadia for his paraplegic as he was intoxicated at the moment when he climbed on the cliff and was unable to retain any reasonable skill or care due to which he fell off from the cliff. However, he can always plead on the ground that someone had induced alcohol to him without his knowledge. c) Issue- In this case Bessie was standing near his house when a cricket ball hit her. The batsmen hit the cricket ball over seven feet high fence in the course of the game. The issue, in this case, is whether Bessie can file a suit, claiming compensation for the harm caused to her, against the cricket club. Rule- Section 5E of this Act includes those people who engage themselves in any pursuit or activity for the enjoyment or relaxation at any place where people are ordinarily engaged in sports such as a park, open space or bench under the term recreational activities[7]. Section 5I states that a person will not be held liable to pay compensation if the plaintiff had engaged in the recreational activities and in the due course, he had sustained any harm if the risk was subjected to risk warning to the plaintiff. The risk warning could be made orally or in written form and it is immaterial whether the person had received or understood the warning[8]. Application- As Bessie was standing near a cricket club it was very likely that she could get injured in the course of the match. She is immaterial whether she took attention to the risk warning attached to the cricket club. Bessie will be included under the definition of recreational activities as she was in the open space near the place where sports are ordinarily played. Hence, she will not be entitled to get any compensation for the injury sustained by her against the cricket club as she was standing near her home so she was aware of the risk warnings of the cricket club[9]. Conclusion- Bessie knew the presence of the cricket club near her house and being a prudent person she had reasons to believe that she might get hurt in the course of the sport played inside the club. The cricket club does not have to prove whether Bessie understood the risk warning. Hence, Bessie cannot claim compensation as the issue falls under the division of recreational activities of this Act[10]. d) Issue- Edward had undergone a blood transfusion and in the course, she got infected. The blood so transferred had HIV, which was made available by the blood bank without testing it and thus endangered life. Rule- Section 5B of the Act states that a person will not be held liable for any harm caused due to his fault for failing to take precautions against a risk of harm unless the risk was foreseeable, significant and could easily be averted if he took proper precautions. The court will consider the probability of the occurrence of the harm if proper precaution was not taken, the seriousness of the harm, the burden of taking precaution to avoid the risk of harm and the social utility of the activity that would create the risk of the harm. Application- It was the due duty of the blood bank to ensure that the blood supplied by them is free from any hazardous disease. The presence of any disease in the blood will infect the recipient person. This risk was significant and any reasonable person should have taken due care before blood transfusion. Thus, there was a breach of duty on the part of the blood and therefore, Edward can successfully file a suit against the blood bank for the recovery of compensation[11]. Conclusion- There is every possibility that if the blood is not tested before transfusion, it will infect the person if there is the presence of any disease in the blood. Disease via blood transfusion has serious consequences and its social utility creates a risk of harm. Thus, Edward can sue the blood bank for their negligence as the harmful disease had infected him. Being a layman, it is very likely that Edward would not have the knowledge about the presence of disease in the blood so it was the part of their duty to ensure that they provide blood free from any disease. Thus, the blood bank will be liable to pay compensation to Edward[12]. Reference A User's Guide To The Civil Liability Act 2002 (NSW) - Colin Biggers Paisley(2016) Cbp.com.au Allen, Judy, et al. "Privacy protectionism and health information: is there any redress for harms to health."J Law Med21.2 (2013): 473-85. Barnet Jade - Find Recent Australian Legal Decisions, Judgments, Case Summaries For Legal Professionals (Judgments And Decisions Enhanced)(2016) Jade. Beazley, M. J., 'Causation and Statutory Determinism: The Civil Liability Act 2002 (NSW), s 5D' (2013) 87Australian Law Journal591 Carroll, Robyn. "Apologies as a legal remedy."Sydney L. Rev.35 (2013): 317.