...entrepreneurial couple from Brandon, Manitoba. They are looking to make the jump from managing a family owned painting business to start their own picture-framing store. While they enjoy the profitable painting business, they also seek to expand their growth opportunities in both terms of income and challenge. With the thoughts of this still in mind, Robert ran across a small retail store while in Winnipeg called U-Frame-It. From there the Norman’s have been exploring and researching the possibility of opening up their own store. After evaluating their business decision, the Norman’s decided against franchising from U-Frame-It, mainly due to the franchising fee of $20,000 and the royalties of 10% of sales they would owe. With further investigating and market research, the Norman’s chose to start-up their own framing store. Robert has estimated the start-up cost for their business to be $100,000 of which $25,000 would be directly contributed from the Norman’s to put into their venture. This left $75,000 to be sought after from a bank loan. Robert and Teresa prepared a projected income statement for their first year of operation and a description of their financial needs for the bank manager, which left him unimpressed. After pleading and some passed time, the manager ultimately granted them the loan. As the Norman’s began the necessary purchases to start their business they realized that they may have underestimated certain aspects of their financial requirements by up to $10,000...
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...Session 2 : Foundations of strategic marketing Can you say what your strategy is? Companies that don’t have a simple and clear statement of strategy are likely to fall into the category of those that have failed to execute their strategy or those that never had one. Often many employees are frustrated that no clear strategy exists for the company. Leaders of firms assume that the initiatives described in the documentation that emerges from an annual budget or a strategic planning process will ensure competitive success; they fail to appreciate the necessity of having simple and clear strategy statement that everyone can internalize and use. A well understood statement of strategy aligns behaviour within the business: it allows everyone in the organization to make individual choices that reinforce one another. With a clear definition an executives know what they’re trying to create and implementation becomes simpler as the strategy can be communicated and easily internalised. Most executives don’t actually know what all the elements of strategy statements are, which make it impossible for them to develop one. Mike Rukstad identified three components (objective, scope and advantage) of a good strategy statement and believed that executives should be forced to be clear about them. Any strategy statement must begin with a definition of the ends that the strategy is designed to achieve; the definition of the objective should include not only an end point but also a time...
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...Unit 1 - Setting up a Business Revision Guide Exam Details Unit Title: | Unit 1 – Setting up a Business | Type of Assessment: | Written Paper (1 hour) | Marks available | 60 marks - 40% of the GCSE | Date of the examination (and session) | Tuesday 22 May 2012 | The Syllabus Section 1 – Starting a Business | Content | | R | A | G | 1 | Enterprise: What is business? | | | | | 2 | Finding a gap in the market | | | | | 3 | Franchises | | | | | 4 | Business objectives | | | | | 5 | Business objectives: measuring success | | | | | 6 | Business objectives: stakeholders | | | | | 7 | Business plans | | | | | 8 | Business risk and uncertainty | | | | | 9 | Legal structure: sole trader and partnership | | | | | 10 | Legal structure: limited and unlimited | | | | | 11 | Locating the business | | | | | Section 2 – Marketing | Content | | R | A | G | 1 | Market research with limited budgets | | | | | 2 | Market research methods | | | | | 3 | The marketing mix | | | | | 4 | The marketing mix: product | | | | | 5 | The marketing mix: price | | | | | 6 | The marketing mix: promotion | | | | | 7 | The marketing mix: place | | | | | Section 3 – Finance | Content | | R | A | G | 1 | Finance for small businesses | | | | | 2 | Support for small businesses | | | | | 3 | Financial terms and basic financial calculations | | | |...
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...TABLE 7.4 An annotated table of contents of a formal business plan. Writing a complete business plan forces the entrepreneurs to crystallize key business issues in their minds. There are many ways to structure a business plan, with various references, structures, and templates available. The business plan process focuses on the venture’s key success factors by posing questions that must be addressed for an idea to become a true opportunity. See chapters 2 and 19 for a discussion of the business story and concept. Additional references to other chapters are shown in this table. Executive Summary The executive summary is the most important part of the business plan. Many investors make their decision to proceed with further discussions (e.g., due diligence) based on this single section. The executive summary should encapsulate the key positioning and reasoning found in the rest of the business plan. Both the vision and mission statements should assist in succinctly communicating a compelling opportunity. • • • • • Why is this a big problem and why are customers willing to pay for solutions? How does the venture plan on solving the customer problem or need? Why is this venture uniquely positioned to do this? How attractive are the economics? Why is this an exciting growth opportunity? Who is the team, and what key partnerships are in place? I. Opportunity and Market Analysis Investors like funding big problems representing large opportunities. Start strong by demonstrating a...
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...yesterday. - See more at: http://www.straitstimes.com/breaking-news/singapore/story/more-food-going-waste-20140319-0#sthash.CRyz0dZB.dpuf http://www.nccs.gov.sg/climatechallenge/issue05/ask-dr-green.html http://www.savefoodcutwaste.com/2012/11/05/new-campaign-to-reduce-food-waste-in-singapore/ Question – Outline Your report should make use of appropriate frameworks and mechanisms from the module and include the following: An analysis of the social issue (600 words) A critical evaluation of a current, contemporary intervention designed to address the social issues (900 words) An appraisal of the outcomes of the chosen intervention (300 words) A proposed new intervention plan to continue and consolidate the efforts to address the social issue (1,500 words) – marketing plans C10 – product, price, place C11 + C12 – promotion Total: 3000 + 300 = 3300 words Core Product | Actual Product | Augmented Product | Food Supply | How to save | Education | Food Continuity | | Grow...
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...Joan Churchill, Mary Sonnack and I were doing lead user projects for our research in the 1990’s, we needed some standardized training materials for lead user project teams. We therefore wrote this handbook, and progressively revised it based upon field experience. Our final revisions were made in 1998. Then, our manuscript just sat there, as we all went on to other work. It is now 2009, and researchers and practitioners have learned a great deal more than we knew in 1998 about lead users, and how to run lead user projects. In a year or two, we expect that completely new handbooks will supersede this one. In particular, we are eagerly looking forward to one now being planned by Professors Christoph Hienerth and Marion Poetz of Copenhagen Business School. Still, while we are waiting for newer materials, we think that lead user teams, consultants, and teachers may well find something of value in what we wrote 10 years ago. Accordingly we are posting this book on the Web under a Creative Commons license that permits free downloading. It can be used in conjunction with 6 short lead user project training videos developed by Joan Churchill. These are also available on the Web for free downloading from http://mit.edu/evhippel/www/index.html The Creative Commons license we have chosen allows “derivative works.” This means that anyone is welcome to take sections of our work, with attribution, and incorporate them into their own works or training materials. Please see the license itself for...
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...managers (2020-2023) - Business School Netherlands Written by Business School Nederland Thursday, 16 January 2014 14:38 Business School Netherlands’ (BSN) Advisory Board MBA is an operational committee advising BSN on the current and future role of managers, its function being to maintain an up-to- date connection between the MBA programmes offered by BSN, and worldwide developments, particularly within organisations and non-profit organisations. Changing its approach of the previous years, the Advisory Board has adopted a significantly longer term focus, based on questions like What changes can we expect in the coming 7 – 10 years?, Which managerial competenties will become increasingly important? The reason behind this broader outlook is the large number of sources indicating that managers and organisations will face radical changes over the next decade. The report ‘Agent of change, the future of technology disruption in business’ counts as one of these influential sources; an investigation led by the Economist Intelligence Unit (2012). Based on interviews with nearly 600 international executives (profit and non-profit) the report portrays the following outlook for the future: - By 2020 corporate industries will look drastically different. It is expected that many industries and companies will merge; in particular media, entertainment, financial services and telecommunications; - Information and ‘big data’ will become a ‘business on its own’; - Medium...
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...Chapter II Market Study A market is defined as the sum total of all the buyers and sellers in the area or region under consideration (Bennett, 2015). Market study is the central of any business. It contains guidelines and principles of an entrepreneur in decision making. It includes all information about size of a market and it depends on the total of people who exhibit the needs, the resources to engage in exchange and are willing to offer these resources in exchange of what they want. SWOT analysis is a part of study too. This will allow the proponents to be aware of the demand and supply situation also the opportunities in the market and the best marketing strategy. Objectives of the study The main objective of the study was to prove the marketability of the proposed business. Specifically it sought to 1. To identify the target market who will be suitable for the proposed product 2. To project future demand and supply of the product in the market 3. To determine the corresponding selling price of the proposed product 4. To be able to draw conclusion base on SWOT analysis 5. To formulate an effective marketing strategy and program in order to penetrate the market. Methodology Methodology is the systematic theoretical analysis of the methods applied to a field of study. It comprises the theoretical analysis of the body or methods and principles associated with a branch of knowledge. (Howell, 2013) The proponents used data gathering instrument...
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...Marketing & its Evolution over the years Marketing is not the art of finding clever ways to dispose of what you make. Marketing is the art of creating genuine customer value. It is the art of helping your customer become better off. The marketer’s watchwords are quality, service, and value – Dr. Philip Kotler. (Kotler, 2012) Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer buying behavior and providing superior customer value. (Wikepedia, 2012) With the growing consumer demands & their technologies growing at such a large pace, the traditional marketing methods have seen a complete turn-around. Until very recently, marketers focused on outbound marketing techniques, which communicated with the consumer with a “AT them” approach instead of “WITH” them approach. But, with the onset of dotcom industry and over-the-night changing competitions, the marketers had to change their game plan. Ever since, people had something to sell, We’ve been marketing. During the period from 1450-1900s, Printed advertising remained to be a powerful marketing tool. This came with the magazines, billboards, pamphlets & posters being used for mass marketing of consumer commodities, movies & even freedom-fight related campaigns. The main idea was to target consumers on the basis of what they see & perceive. Printed advertising is used till date as a major tool for marketing. From early 1900s...
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...underlying assumptions. (4 points) • Basis for Project Management Systems • Guidance for common ground between projects (for PM and Team) • Framework of best practices • APM • Project management in context • Planning/Executing strategies • Techniques • Business/Organisation/People • PMI • Project life cycle • PM Process • Project Integration/Scope/Time/Cost/Quality/HR/Comm./Risk Management 2 What is the so-called iron triangle? Explain how it may be used in order to evaluate strategic choices in a project. (4 points) • [Draw picture] • Time/Quality/Cost/(Customer satisfaction) • Trade off, optimization for one or two goals (priority) • Conformance vs. Performance 3 Describe the kind of stage-gate models that many companies use to control their projects. Discuss briefly the pros and cons of such a system. (4 points) • Basic opportunity to review progress (Checkpoints/Gates) • Find fundamental problems in the project early • Quality gates: Deliverables, Checklists • Pros • Ability to call a halt (Save future expenses) • Quality control • Correction of earlier plans • Cons • Requires additional effort • Can slow down the project 4 What is a work breakdown structure? Describe the process of deconstructing a project into a WBS and discuss the major problems linked to this. (4 points) The breaking down of large activities into...
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...1 Foundations of Strategic Marketing Management The primary purpose of marketing is to create long-term and mutually beneficial exchange relationships between an entity and the publics (individuals and organizations) with which it interacts. Though this fundamental purpose of marketing is timeless, the manner in which organizations undertake it continues to evolve. No longer do marketing managers function solely to direct day-to-day operations; they must make strategic decisions as well. This elevation of marketing perspectives to a strategic position in organizations has resulted in expanded responsibilities for marketing managers. Increasingly, they find themselves involved in charting the direction of the organization and contributing to decisions that will create and sustain a competitive advantage and affect long-term organizational performance. The transition of the marketing manager from being only an implementer to being a maker of organization strategy has resulted in (1) the creation of the chief marketing officer (CMO) position in many organizations and (2) the popularity of strategic marketing management as a course of study and practice. Today, almost onehalf of Fortune 1000 companies have a CMO. Although responsibilities vary across companies, a common expectation is that a CMO will assume a leadership role in defining the mission of the business; analysis of environmental, competitive, and business situations; developing business objectives and goals; and defining...
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...Table of Contents 1.0 BACKGROUND 1 2.0 MARKET CONDITION 2 2.1 Global Market 2 2.2 Local Market 3 3.0 BRAND STATUS 3 4.0 TARGET AUDIENCE 4 5.0 MARKETING OBJECTIVES AND ROLE OF ADVERTISING 5 5.1 Brand Promise 5 5.2 Creative Idea and Assess Its Campaign Ability 6 6.0 CONCLUSION AND RECOMMENDATION 7 6.1 Title 7 6.2 Body 8 6.3 Graphic 8 6.4 Artwork 8 6.5 Colour 8 6.6 Contact 9 7.0 BIBLIOGRAPHY 10 1.0 BACKGROUND Nippon Paint was founded by brothers Haruta and JujiroMoteki as Komyosha in 1881. In 1898, Nippon Paint was established as Japan’s first true paint manufacturing company. It spread quickly across Japan. In 1914, having secured domestic market, Nippon expanded its business globally to China, India and South Pacific. Then, Nippon Paint made its way to Taiwan and North China. In 1963, it established the Pan Malaysia Paint Industries which is known as Nippon Paint Singapore today. Four years later, Nippon Paint Thailand and Malaysia were established. Nippon Paint was built on a heritage of over 130 years dating back to 1881 in Japan. It is currently Asia’s No. 1 coating manufacturer spanning 15 countries. Nippon Paint is also Malaysia’s No. 1 Total Coating Solutions provider, enjoying its market leadership position since 2008. It was established in 1967 as Nippon Paint (Malaysia) Sdn. Bhd., which now emerged as a significant regional player within the coatings industry in countries like the Philippines, Bangladesh, Thailand, Pakistan, Indonesia...
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...CHAPTER 6 ANALYZING CONSUMER MARKETS LEARNING OBJECTIVES In this chapter, we will address the following questions: 1. How do consumer characteristics influence buying behavior? 2. What major psychological processes influence consumer responses to the marketing program? 3. How do consumers make purchasing decisions? 4. In what ways do consumers stray from a deliberative, rational decision process? CHAPTER SUMMARY 1. Consumer behavior is influenced by three factors: cultural (culture, subculture, and social class), social (reference groups, family, and social roles and statuses), and personal (age, stage in the life cycle, occupation, economic circumstances, lifestyle, personality, and self‐concept). Research into these factors can provide clues to reach and serve consumers more effectively. 2. Four main psychological processes affecting consumer behavior are motivation, perception, learning, and memory. 3. To understand how consumers actually make buying decisions, marketers must identify who makes and has input into the buying decision; people can be initiators, influencers, deciders, buyers, or users. Different marketing campaigns might be targeted to each type of person. 4. The typical buying process consists of the following sequence of events: problem recognition, information search, evaluation of alternatives, purchase decision, and postpurchase behavior. The marketers’ job is to understand the behavior at each stage. The attitudes of others...
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...impacts of E-commence on international business and marketing: A literature review Name student: Tao Yi Student number: 1192930 Course name: Master thesis international track Course code: 2012-191880750-1A Assessor: Assistant Prof. Dr. E. Constantinides and Dr. Huub J.M. Ruel Hand in date: 15-09-2012 E-commerce and Web 2.0: An intensive literature review on their impacts on international business and marketing Table of content Managerial summary ............................................................................................ 2 1. Background and research objectives .............................................................. 3 2. Research problem and research questions...................................................... 4 3. Research methodology ................................................................................... 6 4. Key findings .................................................................................................. 8 4.1. 4.1.1. 4.1.2. 4.1.3. 4.2. 4.2.1. 4.2.2. 4.3. 4.4. 4.4.1. 4.4.2. 4.4.3. 4.5. 4.5.1. 4.5.2. 4.5.3. 4.6. The impacts of Internet on International business and marketing .................................. 8 The impacts on international business ......................................................................... 8 The impacts on international entrepreneurship ............................................................ 9 The impacts on international companies‟ marketing .......................................
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...unobtrusive methods which include Content analysis of company website and life histories. In order to effectively analyse the Human resource strategies an obtrusive and unobtrusive research method has been adopted. Results of data analyzed show that the Human resource practice adopted is effective however they do have minor floss. In particular, Orientation program, Performance appraisal, Benefit plan and Job Evaluation method is poor in the areas HR management. The report finds the prospects of the company in its current position are positive but the few areas of weakness require upgradation of practice and remedial action by management. Recommendation discussion includes introduction of new practices and new changes like: • After Recruitment and selection process there should be an Orientation program about the organization and rules and regulation because it portraits the organization aptly. • An addition of a performance appraisal form which includes all the forms of appraisal like 360 degree appraisal method. • New benefit plans should be added to motivate employees to be loyal to the organization. The report also...
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