...Nina Westrick 11/10/2014 Monday PM BU1110 Introduction to Business Unit 8 Assignment 1: The four stages of the Product Life Cycle Most products undergo a product life cycle, passing through four distinct stages in sales and profits: growth, maturity, and decline. The marketing challenge changes from stage to stage, sometimes dramatically. The product life cycle can describe a product class (gasoline-powered automobiles), a product form (sport utility vehicles), or a brand or model (Ford Explorer). Product classes and forms tend to have the longest life cycle, specific brands somewhat shorter cycles. The amount of time that a product remains in any one stage depends on customer needs and preferences, economic conditions, the nature of the product, and marketer’s strategy. The proliferation of new products, changing technology, globalization, and the ability to quickly imitate competitors is hurtling many product forms and brands through their life cycles much faster today than in the past. In categories such as smartphones, individual models can go through the entire life cycle in as little as nine months. (Bovee & Thill, 2013, p 317-318) Examples of each stage of each stage of the product cycles: 1. Introduction: 3D TVs 2. Growth: Blueray discs/DVR 3. Maturity: DVD 4. Decline: Video cassette (Bovee & Thill, 2013) (Productlifecycles.com, 2014) Works Cited Bovee, C. L., & Thill, J. V. (2013). Business in Action (6th ed.). Upper Saddle River, NJ: Pearson...
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...Move 1. Which stages of the consumer decision-making process are affected most by comparison shopping on mobile platforms? Explain. 1. All stages can be considered affected less or more. In my opinion, most affected stages are: Internal information gathering – eBay application provides consumer with basic information like brand name, color, price, size, location, shipping cost, etc. After comparing this information consumer supposedly will make a rough choice to get more info or refine search by certain criteria. Evaluation of alternatives – is the most affected and difficult stage for consumer. At this point all options needs to be compared: one seller can be more competitive pricewise but shipping will take longer time due to location of the product, another has a better feedback and accepts every known method of payment but has lower amount of days after product will be accepted back or do not accept returns, etc. Purchase of product also can be considered as affected stage. Before actual payment, some sellers can only ask for desired quantity and get consumer directly to the payment page but some can ask for available coupons or gift cards. However, I think this stage has very limited possibilities compared to full site version. 2. Based on the goal expressed by Steve Yancovich, which stage of the consumer decision-making process is eBay trying to influence? How are they doing so? 2. I think eBay trying to influence need recognition stage. Company created a...
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...which cover: 1 2 3 4 The investigation as a whole Planning Stage Developing Stage Evaluation Stage Handouts 1 and 2 could be distributed at the start of the investigation while the other two could be given to students once they completed the previous stage of their investigation and are ready to embark on the next part of the process. If desired, all could be handed out at the start of the investigation. Investigation In order to successfully complete the HND in Business with Accounting you must undertake an investigation of a business issue. This is a graded assessment and you will be given a grade for your work. Your grade will be determined by your mark: Grade A — 70% – 100% Grade B — 60% – 69% Grade C — 50% – 59% If you do not achieve 50%, you will not achieve in this Unit. You are required to investigate a business issue and to assess its implications for a business or a number of businesses. The investigation has three stages: 1 Planning stage — for this you must prepare a brief for your investigation and devise a plan to carry it out. This stage carries 24% of the total marks. Developing stage — this carries 52% of the total marks and requires you to produce a written report of your investigation. Evaluating stage — for this you must provide an evaluation of the effectiveness of all parts of your investigation. This stage carries 24% of the total marks. 2 3 Throughout the planning and development stages of the investigation you will produce a log of activities...
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...http://hwsoloutions.com/?product=ece-332-week-3-journal-piaget-and-you Visit Our website: http://hwsoloutions.com/ Product Description PRODUCT DESCRIPTION ECE 332 Week 3 Journal Piaget and You, I would like to work with 4 to 8 years old age children. Piaget’s stages of cognitive development aspect of his theory will be the most useful to me in my future career. Piaget’s sight of how children’s minds work as well as develop has been very much powerful, above all in educational. In addition to this, Piaget’s particular approaching was the job of maturation that is simply growing up in children rising ability to be aware of their humankind: children cannot take on a number of tasks until they are sensitively mature sufficient to carry out so. However, his study has produced a great deal further, much of which has destabilized the aspect of his own, however like a lot of other innovative researchers, he anticipated that children’s philosophy does not build up completely easily in its place, there are a number of points at which it “takes off” and moves into totally innovative areas along with some abilities. If we understand his theory fully than his theory would be very helpful for us in our future. After understanding his theory we can bring up our children more successfully and more positively. In this way we can make our child philosophy. In short we can say that Piaget’s theory has contacted more the physical and psychological traits that change among each stage, despite the fact...
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...2010 Fiji Water, I will admit I have purchased this particular brand of water in lieu of its appearance. At the basic level of product and service, which is your core benefit level; this addresses the question as to what the consumer is actually buying. I would hope we would say that we’re all buying water, which is true. But, according to Fiji you are buying “the nature of water.” Fiji wants you as the consumer to know your buying and drinking the purest, cleanest water the earth has to offer. Wanting the consumer to know the benefits of this product, it is said to have a youth preserving antioxidant, True? At the second level of product, product developers turn their ideas for the product and the buyer into the actual product. Developing design, quality level, brand name and packaging are the key elements to this stage. As I had mentioned in my opening statement, I have purchased this product strictly because of it appearance. From the square shape of its bottle to its colorful label, this product does have an appearance unlike any others. From our reading, a company official states “the bottle appears to have magic in it.” I would strongly agree that Fiji has accomplished their goals at this stage of product and services. In the final stage of product and services, Fiji has used celebrity appeal to augment their product. By providing the consumer with health conscious information and the benefits of consumption, Fiji has provided additional consumer...
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...Management MGMT 591: Leadership and Organizational Behavior March 22, 2015 Part 1: Group Development The five-stage group-development model consists of: forming, storming, norming, performing, and adjourning. (Robbins 275) Forming stage. In this first stage, the team is getting to know each other, their backgrounds, work experience, and learning about their strengths and weaknesses. Informal leaders may start to emerge during this stage, and it’s important for management to recognize them. They are getting oriented with their surroundings as well as details about the task at hand. Management should be setting the stage for success by setting roles and responsibilities, providing instruction, guidance, expectations and structure. (Gervais 2014) Storming stage. At this stage, personalities start to come out (good and bad), group norms and/or cliques begin to form, and conflict between one or more of the members occurs. Management must address deviant behavior(s), misunderstandings, gossip/backtalk, etc and encourage communication, trust, and respect for each other. Norming stage. At this point, team members are conforming, getting along, supporting each other, and behaving in line with accepted and established group norms (such as showing up on time, contributing to the group effort, not speaking over each other, etc). Performing stage. At this stage, the team members’ efforts should be synchronized, cohesive and should be functioning well while performing their...
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...Stages in the Organizational Buying Process Organizational buying behavior refers to the process of how companies or organizations buy goods and services. Organizational Buying is not an easy activity as most people think of it. Following are the stages in the Organizational Buying process: a. Problem recognition: The first stage of the business buying process in which someone in the company recognizes a problem or need that can be met by acquiring a good or a service. b. General need description: At this stage of business buying process company describes the general characteristics and quantity of a needed item. c. Product specification: At this stage of the business buying process buying organization decide on the product and specifies the best technical product characteristics for a needed item. d. Value analysis: An approach to cost reduction, in which components are studied carefully to determine if they can be redesigned, standardized or made by less costly methods of production. e. Supplier search: At this stage of the business buying process buyer tries to find the best vendors. f. Proposal solicitation: The stage of the business buying process in which the buyer invites qualified suppliers to submit proposals. g. Supplier Selection: The stage of the business buying process in which the buyer reviews proposal & selects a supplier or suppliers h. Order-routine specification: The stage of the business buying process in which the buyer writes the...
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...Buyer behavior is the acts and the process carried out by the customers who are buying and using the product. According to the consumerfactor.com (2015) Engel, Blackwell and Kollat in 1968, has developed a 5 stage model which explains the stages a customer goes through when purchasing a product. The Five stages are listed below: 1. The need Recognition / Problem Recognition 2. Information search 3. Alternative evaluation 4. Purchase decision 5. Post- Purchase behavior 1. The Need Recognition / Problem Recognition This is the first and the most important stage in the buying process, because if there is no need then there will be no purchase. The customer recognizes when there is a lag between the actual situation and ideal situation and the desired situation. However, there are situations where not all the needs end up ass buyer behavior. For a buyer behavior to happen it requires the lag between the situations to be important. For a buyer behavior to happen recognizing the need the product price, ease of acquisition, quality …etc… should be acceptable by the customer by the level of importance the customer gives to the need. For example: A man needs to eat lunch every day at office, and has two options weather to get lunch delivered from pizza hut or to buy lunch from a shop few buildings away from the office place. He prefers to order and get delivered because walking away from the office might cause him to delay his works. (Ideal situation). They way...
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...Storming Stage Storming stage is a stage where some intra-group conflict emerge (Robbin & Coulter 2002, p. 399). The conflict in our project team were about the choosing of leaders and discussing about the team's project. When determining who is going to be the leader, the whole group members is in a state of confusion, shy and no one wants to stand in at first. When Joan stood up and voluntaries herself, the other two volunteers – Angelina and Charles came to the front to talk. Basically the three of them were using forcing or competing style to handle the situation, it forced the whole team to acknowledge them when we are still uncertain (Heldman 2004, p. 292). By using this method, it saves our time by determining who among us are going to be the best leader. If we did not use this method we will end up not getting the job done or we cannot even proceed to the next discussion of the project. Next conflict happened during the discussion about what product or service our team is going to produce. We had chosen to build a team park, and we had about 5 sub-themes that needs to be elaborated more on the meaning or to narrow down the meaning of the word we use for the sub-themes. In this case, some of our member argued about the word and which attractions should be categorized under them. For example, the word “fantasy” has a very board meaning, one of the members suggested it as theme under princes, princesses, wizards or dragons and the other linked it more to future technology...
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...information about JSTOR, please contact support@jstor.org. Springer is collaborating with JSTOR to digitize, preserve and extend access to Journal of Religion and Health. http://www.jstor.org Journal of Religion and Health, Vol. 21, No. 2, Summer 1982 Madness Experience: Ginsberg as Religious The Case of Allen MARTIN WASSERMAN to be a religious Various writers have considered madness On the basis ABSTRACT: experience. in the area with literature and conversations it is argued that of the psychiatric patients, as a four-stage as a religious can be viewed The four madness process. experience developmental are: 1) The state hurt-and-be-hurt of being, self-induced 2) The stages experience, psychedelic 3) The clarify psychotic how and 4) The confusion-and-dread reaction, reconstruction-with-insight four stages make the poet Allen these up a religious experience, is organized around each of the stages. episode world Ginsberg's view. To so-called According patient, Wieman's and a psychiatric who was both a theologian Boisen, is in line with of madness of the process frequently awareness "Man's acute of...
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...Study Essay There are five stages of group development: forming, storming, norming, performing, and adjourning. After reading the case study “The Forgotten Group Member”, I believe that the whole of the group and the majority of the group are in two different stages. They experienced the forming stage when the teacher assigned their group. They got to know each other and what to expect from each member, good or bad. As a whole group they are in the storming stage now, dealing with the tension created by Mike. Ideally, they will pass into the norming stage where they can work cohesively as a team. At the performing stage they will each be turning in their completed pieces of work and meeting the expectations of their peers. This is where the majority of the group is, minus Mike. At this point the group has all turned in their completed parts of the whole while Mike has turned in hand scratched incomplete notes. Once the team has completed their tasks, they can complete the final stage of adjourning or disbanding the group. If Christine, the team leader, had a clear understanding of these stages, she might have been able to motivate Mike out of his social loafing as well as create a cohesive team with a sense of belonging that could have fostered better performance from all members. The primary problem I see with this case study is the social loafing Mike is exhibiting and that the group is allowing. With one week left before the final product needs to be presented, this issue...
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...on the Move 1. Which stages of the consumer decision-making process are affected most by comparison shopping on mobile platforms? Explain. 1. All stages can be considered affected less or more. In my opinion, most affected stages are: Internal information gathering – eBay application provides consumer with basic information like brand name, color, price, size, location, shipping cost, etc. After comparing this information consumer supposedly will make a rough choice to get more info or refine search by certain criteria. Evaluation of alternatives – is the most affected and difficult stage for consumer. At this point all options needs to be compared: one seller can be more competitive pricewise but shipping will take longer time due to location of the product, another has a better feedback and accepts every known method of payment but has lower amount of days after product will be accepted back or do not accept returns, etc. Purchase of product also can be considered as affected stage. Before actual payment, some sellers can only ask for desired quantity and get consumer directly to the payment page but some can ask for available coupons or gift cards. However, I think this stage has very limited possibilities compared to full site version. 2. Based on the goal expressed by Steve Yancovich, which stage of the consumer decision-making process is eBay trying to influence? How are they doing so? 2. I think eBay trying to influence need recognition stage. Company created a mobile...
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...at very high a cost that is reducing their ROI. Malescowski and the plant manager have met with union officials to see if employees would perform at lower wages. The union displayed great resistance. The only way for Lamprey’s to improve their profits is to replace all current employees with new low cost employees. Malescowski has developed personal relationships with the employees and would hate to see them go. However, he must align with his CEO and organizational values. Describe a strategy for changing things that would help resolve the situation at hand. The Oconomo plant can use the three critical innovation strategies for changing things within the organization. The first step is the exploration stage. “Exploration is the stage where ideas for new products and technologies are born” (Daft, R (2010) p.279). Malescowski and the plant manager can have a meeting with the union to discuss new creative ideas to help improve the performance of the organization. They should make the union aware that if they can’t come up with ways to improve organizational performance they will be forced to make cutbacks in labor. They would ask the union for any ideas that they may have on...
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... 1. How could an understanding of the stages of group development assist Christine in leadership situations such as this one? Christine must first have an understanding that a group is defined as a collection of people who interact with one another, accept rights and obligations as members and who share a common identity. In Christine accounting group, their goal is to compose a well-written analysis. This 5-member group is a dynamic bunch because of the different mix of personalities. Because of the dynamics, the variety of perceptions and work attitudes that affect the group processes and development cannot be prevented. With this understanding, Christine would have been able to key in on certain clues on how to handle the different circumstances of her team. Through the forming stages the group would have been given a chance to get to know one another and what is acceptable behavior. In the storming stage, members are able to address their differences. Group members are able to understand one another’s interpersonal styles and ways to accomplish team goals all while satisfying personal needs. In the norming stages, members address their differences and tensions tend to loosen up. With the performing stage member work as a team and their skills and values are developed and needed to successfully accomplish the team’s work. More importantly, all the tasks assigned to each team member are effectively achieved. The last stage, adjourning, is the when the team get the...
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...with its strategic plans; for example Inditex excluded the United States markets despite the fact it is active market, which is achieve its plans by entering new markets even if it is limited but still give the minimum margins financially on one hand and a shape the structure of the production on the other hand. In this context, Zara launches limited amount of products into the market to spread a unique culture among its customers to buy at the beginning of the seasons and to pursue a precautions policy to keep inventory relatively little to reduce the holding costs, however; there is a distinctive ability to meet the demands in a maximum period of a week. Another method to reduce the holding costs is to move the items that have not been sold in certain store to other stores or locations to be sold and to avoid the markdown policy. In this context, Zara uses a pricing strategy that is compatible with different target markets or countries Finally, the most prominent strategies in Zara is its ability to create a competitive advantage in the in house-production versus outsourcing whether for one stage or for the all stages in production besides shifting some of the productive sector to other countries in order to take advantage of skilled labor and low wages such as China and the Asian countries in...
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