4 Ps (pace, price, promotion, production) analysis Research Paper

4 Ps (pace, price, promotion, production) analysis - Research Paper Example Remember, a wrong approximation of just one aspect can cost the company dearly. Pricing: Different people have different purchasing powers; while some are low income earners, others have high income and their spending is also high. All these customers have one thing in common; they get to determine the price of a commodity being charged based on their perceived value. Therefore, any business should consider the purchasing powers of the people it sells to in the society. McDonald’s China took the opportunity of using the tier pricing model as of 2007, to sell its products at a range of prices (adjusted to consumer index and income level among other costs in the partitioned areas) to its potential consumers, who had varying purchasing powers (Ko, 4). The price given for a commodity should also be considered; it is not always that lowering prices could generate profits. In fact, some consumers could feel as if the quality is being compromised. Again, high prices could push consumers to other alternative solutions. By 2008, McDonald China among other fast foo d companies had raised products costs to cover for the material costs harmoniously (Ko 4). The strategy was reasonable since it was done in union; hence no company was getting a competitive advantage over the other. Deciding on a product price should consider competitors price among other factors. Similarly, pricing should make room for customer discounts, especially while targeting a specific market. According to Ko, McDonald employed the plan by offering coupons to customers who shopped for their products online via Taobao. Com, as an encouragement to place food orders online (3). Product: The creation of the product is always under scrutiny from the consumer’s side; before being produced, the consumers’ preference and needs should be researched. Each age, group, or culture could want something different from the other, and it has to be considered. While others want their cultures to be incorporated, others want a totally different feel. At one point McDonald’s fantastic rice burger was not appealing to mainland Chinese consumers, even if the rice wa s their staple food (Ko 3). Assuming they had ventured fully without the test, it could have cost them heavily. Unlike KFC, McDonald and Burger King had experienced low returns initially, because their products were made of beef instead of chicken, which was well accepted and suited to the Chinese (Ko 9). With time the wants or preferences change, and the company has to adjust with the changes. Today, some Chinese prefer alternative food instead of their locals, hence McDonald use the opportunity to create and offer the western brand , for example beef burgers alongside chicken burgers, hence giving the people a choice. The product name (such as McDonald), trademark, and the unique brand have to differentiate it from the competitors and market itself within the society. Another important factor is the packaging for consumer familiarity, quantity, and quality to be worth the price. Promotion: It covers all types of the marketing communication, from TVs, Radio, internet, shows, poster s, and the press to conduct advertisements. Most of this advertising comes with a cost for airing the information to the society, but there are other cheaper modes of marketing communication. One basic, though expensive strategy that McDonald Company did upon entry in China was to seek a partnership through joint ventures with local

Cathay Pacific Analysis Essay Example | Topics and Well Written Essays - 1000 words

Cathay Pacific Analysis - Essay Example ines industry, with heavy commercial business in terms of passengers and cargo movements along the globe, and conversely, economic slowdowns and recession casts its gloom over the airlines industry in terms of empty seats and unused cargo capacities. This is precisely what has happened in the case of Cathay Pacific which was a victim of the East Asian Crisis way back in 1997, which resulted in massive falls in local currencies as against the harder ones. Thus the depreciation in currencies caused heavier debts in terms of reeling fuel costs, interest payment and debt repayments, that provided acceleration of crisis that left many airlines in virtual doldrums and staggering losses. 2. Stiff competition offered by smaller, no frills airlines, which are alarmingly lower on ticket fares and yet maintain excellent levels of service, causing high levels of passenger migration. Larger airlines, with heavy overheads, operating costs and bureaucratic attitudes, cannot match these smaller airlines in terms of fares and benefits offered. 3. In the case of Cathay Pacific, it is seen that they have not been able to successfully hedge fuel costs, as a result of which, their woes are compounded. With oil prices fluctuated from $140/barrel at one point of time to just $45/barrel at another time, it became increasingly difficult for airlines to reasonably predict and hedge fuel prices, resulting in heavy losses. â€Å"The fall in fuel prices, though welcome, caused unrealised mark to market losses of HK$7.6 billion on our fuel hedging contracts for the period 2009-2011 which were entered into in order to give a degree of certainty as to future fuel prices and protection against price increases.† (Cathay Pacific Airways Limited. 2008). 4. During the Asian currency crisis sparked off by the fall in the Thai baht during 1997, the tourist traffic in this part of East Asia virtually collapsed. Nearly 85% of tour bookings were cancelled or postponed, and nearly 40% fall in tourism

In line with China's economic reform, the Chinese judiciary has Essay

In line with China's economic reform, the Chinese judiciary has undergone formalization and institutionalization. What are the - Essay Example It is necessary to mention that China has experienced numerous transformations during the past two decades. An important trigger of judicial system transformation was the upheaval of China’s economics. China’s reform in the judiciary system is triggered by two main factors. The first factor is protecting China’s nation and proving to Chinese people that they are in safety; thus a social stability is guaranteed. The second factor is a market economy would experience a better development under the influence of a credible legal system. Therefore there is a strong background of judiciary system development in China. Nevertheless there are advantages and disadvantages that occurred in the result of the reform introduction. An intention of China to hold a world’s leading position enabled its people to have more contacts with the international society. As a result, a social dislocation instead of a reserved social system occurred in China (Chow, 2009). The matter of human rights is often neglected in different countries because of imperfection of a judiciary system. ... A brief overview of China's Judicial System In historical context, Chinese judicial system has experienced four main periods of changes. During the period of the Communist Party governing (1949 -1956) the main goal was to create a â€Å"socialist legal system† (Kamis, 1997). Further on, in 1954, â€Å"the Organic Law of the People's Courts of the People's Republic of China† was introduced in China. After this period, the people’s courts consisted from: â€Å"the Supreme People's Court, the higher people's courts, the intermediate people's courts, and the basic people's courts† (China’s Judicial Reform, 2001). During the next 10 years (1956 -1966) the legal system in China couldn’t develop properly due to the activities of representatives of the 'Anti-Rightist Movement' and the like organizations. The next decade (1966 – 1976) was marked by a Cultural Revolution in China and has essentially broken under the influence of the revolutionar y processes. Starting from 1979 China has experienced a rapid growth of marketing sector because of high-speed economic development. There was a gradual development of a judiciary system and different people courts were established in China. Therefore, it is clearly seen that judiciary system of China has no options for self-perfection because of historical processes in this country. Therefore there is an urgent need in the reform of judiciary system in order to ‘smooth the sharp corners’. People's courts were wide-spread at different levels and gave hearings to criminal and civil cases. The SPC and the courts of the higher level deal with various cases (both criminal and civil ones). The main role of SPC is to supervise the compliance with the

History final exam Essay Example | Topics and Well Written Essays - 1500 words

History final exam - Essay Example It was some time before the terms and concepts fundamental to Hinduism was defined under the Law of Manu during the Mauryan Empire. The Law of Manu made the concepts of karma, dharma, Brahmins, Kshatriya, Vaisya, Sudras, the Untouchables, jati, as well as Brahma central elements of the Hindu civilisation within Ancient India. When added altogether these concepts and the Law of Manu effectively formed Hindu culture, morality, and religious practices, as well as been the basis of the caste system. At that foundation stage Hinduism, was not linked with any attempt to tightly control the social and economic relationships between everybody within Indian society.1 The Indus civilisation lasted for around a thousand years before it was overrun by the successful incursions of the Aryans. With the Aryans came the caste system that was adopted as part of Hinduism. It was widely believed that this system delayed the development of large cities and meant that the pace of technological developments was slowed down.2 The caste system affected Indian both the social and economic development due to it being used to determine the economic, social, employment, and legal status of all Hindus within the country. The operation of the Hindu caste system did not prevent India from enjoying extensive and lucrative trading links during the Mauriyan Empire. Those trading links stretched as far west as Rome and as far east as China.3 Another reason the caste system has had such a strong influence upon Indian social and economic development was because the ownership of land, as well as the means of production, and the work that people could perform was chiefly determined by the position they were born into. This rigidly adhered to caste system allowed for the concentration of wealth as well as leading to a highly regulated social and economic order. It also arguably meant that people

The trail of Tears Essay Example | Topics and Well Written Essays - 500 words

The trail of Tears - Essay Example Over 15,000 of our members, led by Chief John Ross, have signed a petition in protest of this false treaty. Despite this, the United States Supreme Court dismissed our concerns and this year ratified the treaty. We have now been given two years to migrate voluntarily to the west, away from our own country, to unfamiliar territory beyond the Mississippi. Forcible removal has been threatened if we do not leave on our own. Citizens of the United States, we do not wish to leave our lands, nor should we be forced to do so. Such a move would not be in our best interests; indeed it would be fatal to us as a nation. Firstly, it is an area completely unknown to us, and in addition is already occupied by other Indian nations who would not take kindly to encroachers upon their territory. We would be forced into close proximity with neighbors with whom we do not share a language or customs. The territory is also inadequately supplied with wood and water, making it much harder for us to survive. We appeal to the sense of fairness in the citizens of the United States, because previous to the false treaty, all agreements upheld our sovereign rights. Those treaties explicitly acknowledged us to be a separate people, in a separate territory comprising our own country, and were supposed to be secured and protected by your government. In the 1832 Supreme Court case Worcester v. Georgia, the majority opinion written by Chief Justice John Marshall rendered a judgment firmly upholding our rights. It stated, in part, that Indian nations should be regarded as distinct political communities, with their own territorial boundaries in which exclusive authority is exercised, as guaranteed by the United States. Although the case specifically addressed the legal question of whether the State of Georgia could forcibly seize any person residing within our nation with our permission, it forthrightly addresses our territorial and sovereign rights.

The Jungle (by Upton Sinclair) Essay Example | Topics and Well Written Essays - 1000 words

The Jungle (by Upton Sinclair) - Essay Example Big businesses were enjoying an unprecedented reign of opportunism and the welfare of members of the public had begun to seriously deteriorate. Sinclair’s focus in this book was to expose the corrupt practices and the unsanitary conditions that were rampant in the meatpacking industry. This book was published in 1906 and it was successful in snaring the attention of President Theodore Roosevelt, who set up a commission to enquire into the meatpacking industry which finally resulted in the passage of the Beef Inspection Act. The story focuses upon the ordeals of one Lithunian family that is forced to reconsider its idealistic view that hard work and morality will lead to material success and happiness. The reality they encounter is that America is a place of greed and exploitation, where it is only immorality, corruption, crime and graft which are the means that will ensure material success. Sinclair’s book demonstrates how immigrants who came to America with the will to work hard in their pursuit of the American dream, were victimized, harassed and exploited. Throughout the book â€Å"The Jungle,† Sinclair focuses upon the meatpacking industry in Chicago but uses it as a means to demonstrate the evils of capitalism. According to Sinclair, capitalism breeds social inequality and an obsession with the accumulation of wealth that leads individuals to engage in unscrupulous practices for the express purpose of garnering wealth. Through the events in the book, Sinclair suggests that capitalism is a system that benefits only a few individuals and big businesses, hence it needs to be replaced with an alternative system such as capitalism which works for the benefit of everyone and ensures that the common man is not exploited by greedy capitalistic elements. Throughout the early part of the book, Sinclair therefore focuses on demonstrating the evils of capitalism, which in effect, destroys the many for the benefit of the few.

Describe The Factors To Consider Essay Example for Free

Describe The Factors To Consider Essay There are a number of factors to consider when promoting effective communication. When using verbal communication with patients it is important to speak looking at them, speaking slowly and clearly and using simple language,. It is important to note that when working with patients with learning disabilities we have made sure they have understood what I have said. When speaking with colleagues or professionals the language I use can be more complex and often I will speak faster however most factors remain the same, it is still important that information given verbally is clear and concise. An example of this is when this is when I have mentored new staff I make sure I talk over everything slowly and clearly and I also get then to repeat some of that information back to show they have understood. Verbally communicating in this way will differ dependant on weather I am talking on a one to one basis or to a group. If I am talking to a group I must remember to address everyone and not exclude anyone. When using non-verbal communication there are many different factors to consider. For example, if I am slummed back in a chair, it may show that I am not interested in the conversation. Eye contact is also very important as this can show that I am engaged in the conversation, other things to consider would be hand gestures, body language and facial expressions, for example, if I frown or have my arms folded I may give a negative impression. Finally it is important to remember that for effective communication to take place it involves both parties to be engaged. Being able to listen well is vital in a two way conversations.