Theory Of Consumer Choice Essays - Consumer Theory, Marginal Utility

Theory of Consumer Choice I think that it is right to begin with the Theory of consumer choice. The above consumer has expressed his preference of choice. He has a taste for seafood which he prefers above all other types of food. This does not mean that he only eats seafood, but in line with the last two elements of the theory of consumer choice, he has shown his preference for taste and on that assumption, will do the best that he can for himself to consume as much seafood as he can. The elements of the theory which govern exactly how much seafood he will consume are the first two, namely the consumer's income and the price of seafood. We can assume therefore, that the consumer will devote as much of his budgeted income for food, to as much seafood as he can afford in preference to other foods such as hamburgers. A budget line can be drawn up to show a trade off between say, fish suppers and hamburgers to indicate the combinations of fish suppers and hamburgers the consumer can afford given his income and the prices of each meal. Points on the buget line will all be within the consumers budget for food. All points below the line will show the possible combinations of dinners avaiable for his choice. All points above the line wil be unaffordable. It will be possible to see how far the consumer could indulge his passion for seafood in one week. (Slope of budget line = -Pu/Pv) The next considerations that might be taken are the marginal rate of substitution of one meal for another without changing the total utility, the diminishing marginal rate of substitution which will hold utility constant and representation of taste as indifference curves. I will not elaborate on these at this point as I believe that the marginal utility and diminishing marginal utility are more relevany and pertinent to the question. I shall now contunue by defining utility. In economic jargon, utility is a numerical method of appreciating a consumer's satisfaction. The word itself, as far as meaning is concerned, has nothing to do with its meaning in everyday language. It has nothing to do with usefulness, it is a satisfaction based unit of measurement. Marginal utility on the other hand is, in a sense, an extra utility. What is meant in economic jargon by marginal is the additional pleasure a specific good gives to a consumer. Diminishing marginal utility is the marginal utility lessening due to the growth of consumption. For example, a consumer consumes a pound of fish, and his utility is 10 units, and his marginal utility is 10 units. If the same consumer consumed two pounds of fish, his utility would be 15, but his marginal utility would be 7. The same effect on marginal utility would take place if the amount consumed further increase. Since marginal utility diminishes as the quantity of fish consumed increases, we are faced with diminishing marginal utility. The point is that no matter how good the the consumer's fish dinners are , the more that is consumed, the less satisfaction will the consumer have compared to the initial portion. This of course is down to personal taste, for consumer A may have a diminishing marginal utility that decreases a lot more slowly than consumer B. The fact remains, that at some point, both comsumers will become saturated by their love for seafood and the law of diminishing marginal utility will make itself apparent. Our consumer, as this point, will seek to substitute some of his fish dinners with hamburgers or another alternative. To conclude, the title question based on the argument above, the statement: ?I love seafood so much I can't get enough of it? may be passionate, but economically speaking is implausible. Even if theoretically speaking the consumer had access to an infinite amount of seafood and an unlimited budget, in the end the good would not satisfy the consumer enough to remain a preferred good, thus this change in preference would result in the consumer literally having had enough. First we must consider suppy and demand. Supply is the quantity of a good that sellers want to sell at every price. Demand is the quantity

Analysis of Marks Spencers International Strategy The WritePass Journal

Analysis of Marks Spencers International Strategy Introduction Analysis of Marks Spencers International Strategy IntroductionBackground to the Marks SpencerPast issues related to MSCurrent business climateReviewing its current international strategyRecommendations BibliographyRelated Introduction This report looks at the current international strategy adopted by MS, what are the past issues of the company, what steps it took during the time of downfall and how did it overcome its mistakes to bounce back in the global market with its new marketing strategy. The report is a mix of the academic research and the case study materials provided from which the final conclusion can be drawn as to the organization should proceed to internationalization or not during current market situations. Background to the Marks Spencer MS as a business organization came into existence in 1884 when it was just a penny bazaar. Today after 125 glorious years of growth and expansion, the company is the biggest retailer in the UK. Its product ranges from clothing, food products and household accessories etc. It entered the international market by franchising in countries such as Canada, USA, France, Belgium, and Ireland etc. By the end of 19th century, the international market was on the verge of collapse due to improper management by the senior management of the company. Thus the company decided to withdraw its presence from the international market and instead concentrate only on the home market. (MS company history 2011) Past issues related to MS MS first entered the global market by targeting Hong Kong and South Africa by exporting its products to these countries under the brand name of St. Michaels. Eventually it terminated its contract with Do dwells, which in turn proved to be a disaster for the company as problems related to the local retailers and franchise did not allow the company to build a strong base in the Asian market. (Bevan 2001). MS targeted the Canadian market through family tie-ups and was successful in operating 275 stores across the country. By the end of the 80’s it entered the US market through purchasing a retail market chain named King’s supermarket and Brooks brothers. But eventually the North American market did not accept MS as a competitive brand due to lack of clear branding and positioning of its products. It was unable to satisfy the customer’s demand; also a large number of competitors did not give MS a chance to sustain itself in the market. (Sparks 2005). MS did not offshore its productions to a different country due to quality concerns. This lead to increase in the cost of production which in-turn lead to charging higher price from the customers. On the other hand, the customers did not find the product that appealing so as to pay a premium price for its products. Similarly MS entered the European market without any strategy to be adopted and mainly on the belief that its current business techniques would hold good in catering these market as well. It started expanding its operations in a haphazard situation without a rational strategic approach to it.   (Mellahi et al. 2002) Current business climate By 2001 the company withdrew all its overseas operations and started concentrating in the domestic market. It is a good decision that they took, as there were many flaws that would have taken a lot of time to rectify along with huge losses to bear. The global market has currently undergone a recession stage where MS was deeply affected by decreases in profit margins by 11% from the year 2005 to 2007. Only during the year 2009 it had performed a profitable business with 17% and 5% increase in profits and market share respectively. Its time when the company is recovering and finding new opportunities to enter the international market with a planned and structured system to target the global consumer retail market. The company has carefully analyzed its past mistakes and then has structured its plans for the future.   The next three years is to concentrate mainly in restoring its stability in the market by improving the marketing of their products into various segments and classifications. At the same time it will set foundation for the future expansion through mediums such as space grows, improving multi-channel retailing and to built its capability further to become an international company. (Cameron et al. 1988) Reviewing its current international strategy On the basis of the past issues within MS and the steps taken to cater the current business climate, we have seen the changes related to the target market, mode of entry in the new market, benefits to enter new market, rectification of past mistakes and setting clear objectives for internationalization etc. MS has decided to stabilize itself from the recession and build up its market share in the UK for the next three years; simultaneously working on rational international decisions. These measures show that the company is clear about its vision and mission related to its future. The following points discussed below prove to satisfy me to go forward with the current international strategy, as they have understood the demand in the international market and should implement its strategy accordingly. The current major steps taken by the company are: To enter large markets such as India, China and Europe etc where there is already a demand for this brand. Concentration in one particular market and finishing it first and then moving to another area proves better positioning and marketing for the product. MS can change its marketing style from product driven to market driven. This helps the company to understand the regional demand of their products and to cater it accordingly. (J MS results and multi year strategy 2010) Franchising is a great option rather than opening their own store. Choosing the appropriate franchisee will improve market capturing and sales in that particular country. E.g. to cater the Indian market MS has tied up with Reliance group. On the other hand, the franchising schemes cannot be same in all the countries due to political, economic and social factors. This could create operational problem for the company in the long run. (Quinn and Doherty 2000) Concentration on brand positioning and brand awareness is been done so that the market is aware of the different products and brands the company is offering. Thus there will be no confusing in the mind of the customers related to brands. There can be a possible threat of not accepting a product by different markets or there can be a very low demand for the same. Also MS overseas do not keep food items and accessories unlike UK. Thus it creates huge difference in the brand positioning between two or more countries. (Eyring et al. 2011) The company never grasped the advantage of patented USP such as storm ware clothing range in order to distinguish itself from other company. Today they are looking forward for such restructured range. E.g. fusing storm ware technology into jeans, t-shirts etc. (J MS results and multi year strategy 2010) Flagship stores are to be placed in each region along with supporting stores such as smaller outlets and Internet channels so that the customer can feel a heavy presence of this brand in the market. Amazon platform is currently reliable for the company. (J MS results and multi year strategy 2010) It is practically not possible for the company to perform as planned in its international strategy. There would be uncontrollable factors, which may lead to variations from its objective. The degree of variation can also determine the success and failure of the company. Adequate financial back up is needed for research and development in each particular market. Thus the risk is also high which the company is taking, if not successful in sustaining in the new market there would be huge loss for the company. Recommendations The company should offshore its manufacturing units to different geographic regions so they can cater different markets well. This will change the British brand image to global brand image. Example: Apple Inc is an American company, which contains the software made in Hyderabad, India and the product manufacturing is done in Taiwan. Thus it contains a global brand image. Adopt decentralization system in the organization so that delegation of work can be encouraged, thus involving the regional departments to participate in the major decisions to be taken. Example: Toyota involves every subordinate to participate in the decisions to be taken so that they can receive more opinions before taking any decisions. MS in an umbrella company which involves different products such as food, GM clothing and accessories etc, it has to carefully balance the brand image of all these products simultaneously. It will be a challenge to the company to maintain all the demand in all the countries. Therefore the company should segment and position its products to the lowest possible level before entering that particular market i.e. appropriate portfolio management. (Eyring et al. 2011) MS is always special by taking a step forward at maintaining a high quality that reflects its brand image, thus the company can strongly capitalize on this image for future growth. (Bolland presentation 2010) For every market there should be a particular marketing style in order to attract more customers. The marketing can be through different medium such as Internet, radio, television, banners hording etc.   The marketing should be done keeping in mind the culture, traditions and lifestyle of different regions. The company should adopt the characteristics of a multinational company where the revenue generated should be retained in that department instead of transferring it to the home country. The benefit is that the company does not have to manage the foreign exchange from around the world plus these funds can be capitalize for further growth and expansion within that region. Bibliography Marks and Spencer plc. 2011. Company history. Available at: http://corporate.marksandspencer.com/aboutus/ourhistory   [Accessed: 21st Mar 2011]. Bevan, J. 2001. The Rise and Fall of Marks and Spencer. Profile Books, London. Paul Jackson, Leigh Sparks, (2005) Retail internationalization: Marks and Spencer in Hong Kong, International Journal of Retail Distribution Management, Vol. 33 Issue: 10, pp.766 – 783 Mellahi, K, Cameron. et al. 2002. International Review Of Retail, Distribution and Consumer Research. 12(2), pp 191-219. Eyring, M.J. et al. 2011. New Business Models in Emerging Markets. Harvard Business Review. Vol. 89. 2011. Quinn and Doherty. (2000). Burt et al.: Retail internalization and retail failure.(3), 207. _J MS results and multi year strategy_(video recording) 2010,London,UK. BOLLAND, M and STEWART, A. (2010, November 5th). MS Corporate Strategy.   [PowerPoint slides]. Presented at a conference in London, UK. WORD COUNT: 1602

Lions Den Sports Bar & Billiards (Business Plan) Research Paper

Lions Den Sports Bar & Billiards (Business Plan) - Research Paper Example Lion’s Den will run under single proprietorship, with top managers running the various facets of the business. Management wishes to establish the business by means of coordinated marketing and operational execution that will solidify name recognition, and appreciation for the concept. The efforts include both above-the-line and below-the-line advertising, face to face communication and focused strategies. With the marketing plan taking care of drawing the crowd into the business, the operations team will further strengthen client relationship by providing excellent customer service, exemplified by stringent operating guidelines, and up to date employee training and extensive product research. Its expansion plans also prompts management to focus on good inventory management, investing only on fast-moving goods and at the same time, not fearful of experimenting on new trends to find out which fit the target market. The sports bar business will compete in terms of facilities by offering the most number of televisions in the city, and a state of the art table top audio control to give the customers the comfort of being able to listen to his program without the interference of other clients, or without having to wait for the assistance of the service crews. There will also be top-of-the line sports facilities that include billiard tables and dart boards, a mini arcade and a concept bar that are both comfortable and edgy in nature. Clients will feel at ease, and at the same time, be entertained the programs, facilities, visuals and food that the restaurant offers. Lion’s Den will also capitalize on Information Technology and computers to provide the best facilities to the target market. It plans to further expand its business by opening more branches in neighboring cities in the next five years. New Jersey has the most number of malls

The impact of Wireless technology on the field of Communication and Essay

The impact of Wireless technology on the field of Communication and computer engineering - Essay Example Today, we have wireless technology. Examples of wireless technology are all around us including mobile phones, laptops, USB internet, and cameras etc. These technologies are very important because they help us stay connected with each other all the time. The impact of wireless technology on communication and computer engineering is very big. In this paper, it has been discussed how big the impact of wireless technology on communication and computer is engineering. Communication is conversation, interaction, or change of words, ideas, or messages between two or more than two people at the same time. For a long time in the history, when there used to be no wireless technology or even wired technology, people used to send letter to each other through post. That was a very time consuming process. The postman delivered the letters by hand. It took even more time for the sender to get the reply from the person through letter. Then came wired technology. The history of wireless technology c an be traced back to â€Å"1896 [when] Marconi took his apparatus to England where he was introduced to Mr. (later Sir) William Preece, Engineer-in-Chief of the Post Office, and later that year was granted the world's first patent for a system of wireless telegraphy† (nobelprize.org, 2013). When telephone was created, it changed communication a lot. It took the quality of communication and its speed to a whole new level. People contacted each other by phone. Those used to be large phones with bells and buttons containing digits. Although those wired telephones improved communication a lot, yet they were difficult to set up as one needed to do proper wiring in order to be able to talk through them. Then came mobile phones. In the start, only few people had mobile phones and it was considered a status symbol. However, over the last decade, mobile phones became very common and even very poor people started having them. Mobile phones took the communication to an even higher level . Using mobile phones, people did not have to connect to each other through wires because mobile phones were wireless. They worked by catching signals from the air. This shifted the responsibility over to the mobile phone companies and the telecommunication companies to install their towers everywhere so that the signals would propagate everywhere. Once these towers were installed, people became very free. They could talk to each other both within the country and outside using mobile phones. Communication became completely wireless. Over the passage of time, mobile phones improved in quality. They became thinner, smarter, and sharper in that their features were improved. Then came mobile phones with cameras installed in them. This further improved communication because people could not only talk to each other, but also exchange photos with each other that were captured using the mobile phone’s camera. Internet is another technology that is available in wireless form and has h ad a great impact over communication and computer engineering. Today, internet is available in different forms. There is a wired form and there is a wireless form also. In the wired form, internet companies provide wired connection to the users at their homes. They connect their computers or laptops to the internet device using wires. Wires are inserted in ports, one in the desktop computer and the other in the internet device. Laptops have an edge over desktop computers because they consist of wifi facility. Wifi catches signals of the internet device so that internet can be run on the laptop without having to connect it to the internet device using a wire. Using such internet connections, people started communicating with each other in an

Burger Kingcustomer centrality Essay Example | Topics and Well Written Essays - 2500 words

Burger Kingcustomer centrality - Essay Example Beginning in 1974 they began offering consumers the empowerment to have burgers made to you're own specifications. Burger King opened their first drive-thru window in the US in 1975, and is currently offering healthier menu items for the calorie and cholesterol conscious consumers. Burger King has always placed an emphasis on customer choice and satisfaction. Customer satisfaction can be gauged by employing and combining the results of the customer value models described in the article, 'Customer Value: a Review of Recent Literature and an Integrative Configuration'. (Khalifa 2004: 655-662) By combining the outcomes of the value exchange model, value buildup model, and value dynamics model, Burger King receives high marks in providing customer value. Burger King strives to make the consumers' experience with them as positive as possible. By offering a quality product at a competitive price in a timely, convenient, and friendly manner, Burger King has managed to grow and become one of the worlds' largest fast-food franchise businesses. Convenient locations, ease of service and consistency of quality in their products, in addition to the empowerment provided to all customers purchasing their products, allows for greater customer benefits in relation to sacrifices made in the procurement of these services. This means Burger King scores well based upon the criteria used in rating customer value using the value exchange model. (p. 655) The value build model correlates four aspects of the relationship between customer and supplier: How the customer is treated and their level of satisfaction with that treatment, longevity of the interaction, thoroughness and thoughtfulness between the customer and the supplier, and the consumers' placing an emotional value on their interaction. (p. 656) Consumers of Burger King's services are encouraged to interact with suppliers, or how else would they have their meal made to suit their preferences This is further reflected in Burger King's employee training which places a major emphasis on friendly, courteous customer service tailored to the needs of the consumer. (Careers, 2005, ) By these standards the company receives high marks. The value dynamics model places focus on product/service and delivery, and meeting the needs of the consumer as a person. (Khalifa 2004: 658) It has already been stated that Burger King strives to provide a quality product, which is competitively priced, and easy to receive. Over the years the corporation has expanded their menu options to meet the needs and desires of health-conscious consumers, which has expanded their client base, the core of which is made up of consumers aged 18 to 35, who eat burgers and fries, (BK (UK) 2005: PDF: 3) and allowed for the meeting of individual needs in a more thorough manner. They have managed to accomplish this without sacrificing ease and/or speed of delivery. By making these options available to all customers they have enhanced the individualization of customer interaction. Again, Burger King receives exemplary marks in customer value. By combining these various models, all of the factors and results, and Burger King's own policies

The Cold War Causes And Effects History Essay

The Cold War Causes And Effects History Essay The Cold War was not a military conflict, but was an ongoing political conflict involving both military and economic competition. The evolvement of the Cold War began during and after World War I, although the official beginning of the Cold War was in 1945, at the Yalta Conference. The causes of the Cold War were many, but can be summed up as a battle between capitalism and communism, along with President Trumans disliking Joseph Stalin, the desire of Russia to spread communism throughout the world, Russias fear of Americas A bomb, America refusing to share its nuclear secrets, Russias fear of an attack from America, the need for Russia to secure its western border, and the expansion of Russia into Eastern Europe. In the 1920s and on into the 1930s, America stayed its course with non-recognition of the Soviet Union. In addition, spreading word of the Soviet Unions support for anti-American activities in China and in Latin America, was not helping. The situation continued to deteriorate. The containment strategy came about in 1946, when George Kennan, a diplomat at the US Embassy in Moscow, sent a telegram referred to as the Long Telegram, on February 22. He also published an anonymous article from a July 1947 issue of Foreign Affairs. His concluded that the policies of the U.S. in relation to the Soviets, would need to be made with a long term perspective. Kennan felt that President Franklin Roosevelt had based the dealings of the United States with the Soviet Union, on assumptions that, in his mind, were completely off base. President Roosevelt believed that with Joseph Stalin no longer calling all the shots, the Soviet Union would want the same things as America and her allies. Kennan did not agree. He concluded that resolution would be a careful and lengthy process. America would need to be both patient and vigilant where the Soviet Union was concerned. On March 12, 1947, in an effort to stop the continuing spread of communism, President Harry S. Truman gave a speech, in which he presented his foreign policy, supporting Free peoples who are resisting attempted subjugation by armed minorities or by outside pressures. This speech, made before Congress, was a clear expression of the policies of his administration and was known as The Truman Doctrine. In June 1947, in a speech at Harvard, Secretary of State, George Marshall presented the Marshall Plan, offering financial aid from America. The purpose was to help Europes economy recover from damage done by World War II.. This good will offer was immediately rejected by the Soviet Union. Europe was allowed to spend the financial aid however they wanted as long as they did not use it to buy military supplies. The CIA, also created in 1947, was to secretly funnel money to noncommunist parties, labor unions, news publications, and charitable organizations. This effort did help to limit the influence of pro-communist organizations thus hindering the spread of communism to some degree. To ensure European defense resources were safe, the United States formed the articles of the North Atlantic Treaty Organization (NATO). This committed the United States. to military engagement in Europe. The treaty further stated an attack on any member of NATO would be considered an attack against all. The United Nations was created to serve as the peace-keepers and ensure global safety. Other events affected the progression of the Cold War. Beginning in 1945, when the United States dropped the first atomic bomb in Japan. This caused animosity and suspicion from the Soviet Union. America was not only engaged in a nuclear arms race with the Soviet Union but were also not competing in the race for space. In October 1962 the U.S. and the Soviet Union were on the brink of a nuclear war. Cuba housed Soviet missiles which was unacceptable to the United States. President John F. Kennedy had them removed. In order to gain control over Berlin, the Soviet Union blocked the railways of the Western allies in hopes of Berlin being dependent on them for food and resources. Western allies formed and organization to fly food and supplies by aircraft to West Berlin. Soon after the Soviet Union lifted the blockade in May of 1949, resulting in the split of Germany into two states. The unification of Germany was October 1990 due to the Berlin Wall coming down. The Cold War ended in 1991 after the Soviet Union crumbled. I believe The Cold War was inevitable and could not have been avoided because its simply a struggle between two fundamentally different political and economical systems, Capitalism versus Communism.

Where Does The Truth Lie in Rashomon? :: essays research papers

Where Does The Truth Lie? Rashomon is a film which allows you to come up with your own ending. You are told four stories, all completely different from one another, but about the same thing. As the viewer, you are to come up with your own truth. Also you are then forced to see why people may lie or embellish. Whether it be to keep themselves out of trouble or make themselves seem as if they are a better person then they really are. The reality is that we are no better then what people think we are. This is because we are unable to judge ourselves. We are unable be honest with ourselves. We are unable to see ourselves in a bad light without having made up some excuse. We try to justify everything that it is that we may do, so not to damage our egos. It is our egos which keep us like this. It is our egos which make us feel good, so we are going to do anything to keep our ego at a high point. Why is it that we are willing to lie so that we don’t have to see who we really are? What is it about ourselves th at we wish not to see? Maybe it is the fact that we all want to be viewed as this perfect person that can do no wrong and make no mistakes. So we embellish on our own behalf in order to hide our imperfections, our mistakes.   Ã‚  Ã‚  Ã‚  Ã‚  All four of these stories have one thing in common; they are told in such a way that the teller is justified in whatever he or she may have done. In each story, except for the last, the teller was the murderer. Admitting to the murder they all did and blaming someone else for their own actions, they did too. As for the last storyteller, he did not kill anyone, but he stole the dagger and lied to the police. Unable to allow their egos to drop to low, they all told a riveting story of how they were not at fault. The only question here is before asking where the truth lies, is how is it possible for four people to come up with such extremely different tales to tell? People will say anything in order to cover up the truth if they are at fault in some way or another.

Market Segmentation for Lawn Mowers Essay

Introduction In this document, we will analyse the current market of lawnmowers in Portugal. By recognising this market and its products with distinct characteristics, we will perform a customer segmentation, which will allow us to divide the market into small groups. Through the segmentation of the lawnmower market, it will be possible to achieve a greater proximity to the final customer; create advertising media that target the identified segments; facilitate the positioning of the product; and obtain the return on investment by the company. The developments and technological diversity provided by all the competitors operating in the sector has shown that this market is very competitive nowadays. Thus, it is imperative that a strategic shift is implemented, which is more focused on meeting the needs of the customer. The notorious falling sales in the sector since 2008 were of equal importance, although the explanation of this phenomenon lies in the national and international economy situation. To analyze the current market of lawnmowers in Portugal, we started to make a small market research. To get a concrete â€Å"shape†, we went to one of the biggest players in the market – Leroy Merlin, who kindly gave us some informations which served as basis for this assignment and which allow us to have a better vision of what is happening in the lawn care industry. GOALS By segmenting the market of mowers you can:  · Get a closer relationship with the end consumer;  · Create advertising media that are targeted to the identified segments;  · Facilitate the positioning of the product;  · And monetize coveted by the company. This last point is usually associated with Increase sales, Increase profits, Increase sales dealer channel. Segmentation There are several types of lawnmowers available on the market: manual, battery – powered or gas – powered models, are some of the options. There are ways to segment the lawnmower market : Customer characteristics †¢ Geographic ( region, city size, and so on ) †¢ Demographic ( gender, age, race, household size, and so on ) †¢ Socioeconomic ( income, education, occupation, and so on ) †¢ Psychographic ( lifestyle, personality, and so on ) Buying situation †¢ Benefits sought ( product features, quality, service, warranty ) †¢ Usage rate – quantity purchased during a specific period Based on the market research that we conducted, we restricted the types of lawn mowers to non-powered, powered and powered riding for three different market segments : urban, suburban and rural. (POR TABELA DE PERCENTAGEM) The percentages given are based on the literature, as well as the information given by the head of the gardening sector at Leroy Merlin, which we visited, in Alfragide. Against this backdrop, the most attractive segment seems to be that of the consumers who live in the suburban area and who use powered walk-behind lawn mowers. However, this segment may already be flooded with competition, it may be more beneficial to target a small segment of consumers, like urban consumers using non-powered or powered walking mowers. The smallest segment may be the most profitable and lucrative. Conclusion From our research we ​​can segment the market of lawnmowers in Portugal as: mainly directed to male gender, between 35-55 years old, who lives in the suburbs of large cities, in a house with a garden area between 1.000 to 2.150 square feet of grass; with a household of four people and average income between â‚ ¬ 20.000 and â‚ ¬ 30.000 per year. The most chosen mower for this kind of segment is the electric powered one, in spite of major disadvantage of requiring a wire plugged to work, which makes that their use is impractical for those who have large estates. It is noteworthy that one of the great advantages of an electric lawn mower is that it does not require extensive maintenance. With the displacement of many ex-urbanites to the most suburban areas of large cities, the growth of lawnmowers little by little began to live better days. With this segmentation, we believe that  the Finnish company will take advantage of this kind of market penetration. Faced with fierce competition (AKI Group, IZI-MESTRE MACO, LEROY MERLIN, BRICOMARCHÉ, BRICO LECLERC and also in many other customers in traditional market said: Garden Centres, Hardware Stores, Drugstores, Building Materials Stores and other sited North to South), the Finnish company will have to differentiate the products presented, as well as in the developed marketing campaigns, satisfying specific needs and desires of this kind of consumers. Bibliography: Market Segmentation: How to Do It and How to Profit from It, Malcolm McDonald Butterworth-Heinemann, 2012 Market Segmentation: Conceptual and Methodological Foundations, Michel Wedel, ‎Wagner A. Kamakura – 2000 Handbook of Market Segmentation: Strategic Targeting for Business and Technology firms, 3rd edition, Art Weinstein, PhD, 2004 Market Segmentation Success: Making It Happen!, Sally Dibb, ‎Lyndon Simkin – 2013 a

Writing Effective Essays for Academic Admission

Writing Effective Essays for Academic Admission In 500 words or less, where would you like to see yourself, professionally, five years from now? the application asked.I attacked the assignment with relish. Getting into this prestigious universitys summer fellowship program was extremely important to me, and I wrote draft after draft, trying desperately to give the admissions committee exactly what it was looking for in this all-important essay. Finally, I sat down and took a good, long, critical look at each and every attempt, throwing my hands up in relative anguish. Oh, they all sounded perfectly acceptable. Some even sounded relatively eloquent. But, to me, not a one sounded†¦right.I began to wonder just what it was that the admissions committee was actually looking for in this essay, and I began to worry that maybe I really wasnt summer fellow material. But then, one of the high school seniors on my debate team happened to glance over my shoulder as he reached for a book Id told him he could borrow. Is that your applicati on essay? he asked. Can I read it?What could I lose?Hey, he challenged, narrowing his left eye. How about just practicing what you preach?Suddenly, it was clear. I had not trusted the advice that I had been giving to high school and college students for nearly twenty years. I had written an essay that could have been written by any one of a hundred other perfectly qualified applicants. I had tried to play it safe and write something professional and intellectual instead of really taking on the challenge of examining myself to determine just what it was that I wanted out of that academic experience. As a result, none of my attempts to engage in professionally correct writing had resulted in anything that provided a reader with a picture of me.A few days later, I gave that young man another draft to read, knowing full well that it was the one that would be included in my application packet, despite the fact that it consisted of 632 words on where I did not want to see myself, professi onally, five years hence. Even though I knew I hadnt followed the instructions to the letter, I knew I had embodied their spirit. I wrote honestly about who I was at that point in my life, a tired and even somewhat frustrated teacher. I wrote simply and directly about what I really did want out of that summer program- a jumpstart. And I was accepted. The lesson? Ah, yes: To thine ownself be true.Weve all been given similar advice about things like blind dates and interviews. Be yourself, weve been told by everyone from Mom to Ann Landers to ex-General Motors CEO, Lee Iacocca. And that advice holds true when it comes to writing essays for admission to academic programs.The sheer volume of material that admissions committee members must sift through on a daily basis today is staggering. When the bulk of what they are reading is carefully scripted to sound correct, it becomes extremely difficult for committee members to distinguish one candidate from another as they attempt to narrow f ive thousand equally qualified applicants down to a pool of five hundred.So, how can you make your essay stand out in that crowd of five thousand? Instead of trying to say something that you think committee members might want to hear, give them the information that they need in order to make clear choices. Most of the essay topics provided on applications these days ask writers to address, in one form or another, these two basic questions:Who are you?Why is this the right program for you?So, tell them who you are. Tell them what you want out of your next academic experience. Tell them why. Be honest. Be direct. Give details, scenes, moments from your own experience. And most of all, be yourself.Remember your Shakespeare: This above all, to thine ownself be true.

History of Gunpowder

History of Gunpowder Chinese Taoist alchemists were the major force behind the early invention of gunpowder. Emperor Wu Di (156-87 BCE) of the Han dynasty financed research done by the alchemists on the secrets of eternal life. The alchemists experimented with the sulfur and saltpeter heating the substances in order to transform them. The alchemist Wei Boyang wrote the Book of the Kinship of the Three detailing the experiments made by the alchemists. During the 8th century Tang dynasty, sulfur and saltpeter were first combined with charcoal to create an explosive called huoyao or gunpowder. A substance that did not encourage eternal life, however, gunpowder was used to treat skin diseases and as a fumigant to kill insects before its advantage as a weapon was made clear. The Chinese began experimenting with the gunpowder-filled tubes. At some point, they attached bamboo tubes to arrows and launched them with bows. Soon they discovered that these gunpowder tubes could launch themselves just by the power produced from the escaping gas. The true rocket was born.

Precedent in English Law Essay Example | Topics and Well Written Essays - 1000 words

Precedent in English Law - Essay Example It is always considered to be the rule-based, legally well-established case law. "The fact that English Law is largely a system of case-law means that the judge's decision in a particular case constitutes a 'precedent'The judge may simply be obliged to decide the case before him in the same way as that in which the previous case was decided, even if he can give a good reason for not doing so," Cross and Harris (1991, p.4). There is no doubt that precedents have not remained what they used to be and as the society evolves, some of the precedents might become irrelevant and it is left to the court's discerning judgement where and how to apply these highly useful precedents. "Rather, what is common to all the various traits of free judicial decision-making is their critical attitude towards the formalist premises of legal positivism and the ideology of bound judicial decision-making," Siltala (2000, p.5) and he argues that legislative techniques have undergone great change in 20th century which has given way to 'judicial anti-formalism'. Precedent spells the legal authority in the form of a forgone legal case that had reached a judgement that could be described as 'out of the track'. It does not say that similar judgement should be established every time; it only becomes a mandatory example from which either the judge could derive inspiration or measure the new case from that angle. Court is expected to consider such precedents before interpreting law for another judgement. Precedent is a landmark decision that could be applied to other cases, but according to independent circumstances. "The rule-based model suggests that the function of precedent is to settle the law so that it can guide individuals and the courts. The reason-based model suggests that the function is to compensate for the erosion of consensus in the common law by simultaneously fixing starting points for decision-making without giving the judiciary lawmaking power" http://journals.cambridge.org/download.phpfile=%2FLEG%2FLEG11_01%2FS1352325205050019a.pdf&code=303b5dd539d0786a50aadfcbedad50cd Precedents could be mandatory/binding or persuasive, depending on the importance of the said precedent, and also depending on the exclusive circumstances under which it was delivered and the authority who created the precedent. Usually binding precedents are created by higher courts for the lower courts to follow. If created by a lower court, it is never binding on the higher court, although it could take it as a matter of sound significance. Even if it is binding, this does not mean that the lower court has to follow it to the letter unless it is 'directly in point' and no additional cases could be formed on the precedent case. Also in rare occasions, a higher court can overturn the judgement of precedent case, or sometimes even limit the scope of the precedent. Even when they are binding, they do so in a certain ratio, which was highly pronounced in Duncan v Cammell. "On that criterion the ratio decidendi of Duncan v Cammell, Laird would have to be "the" reason which explains the holding on "the" material facts and nothing wider. Therefore all utterances in the precedent case which went in verbal ambit beyond such a reason, even though that ambit might seem to govern the instant facts, did not in law do so. For they were simply not a part of the ratio of Duncan's case," says Stone (1985, p.133).

ASSIGNMENT 2 CRIMINOLOGY REPORT Essay Example | Topics and Well Written Essays - 1500 words - 1

ASSIGNMENT 2 CRIMINOLOGY REPORT - Essay Example 22). Since then, crime rates have been lessened in England and Wales. According to the Crime in England and Wales 2003/2004 annual report, violent crimes comprised 23% of all BCS crimes and 19% of police-recorded crime (Dodd et al, 2004, p. 11). The British Crime Survey (BCS) estimated 2,708,000 violent incidents occurred against adults in England and Wales (Dodd et al 2004, p. 67), which, overall, is a decrease of 36% in crime since 1995 (p. 67). However, in 2004 BCS report also noted that violent crime has stabilized (p. 67)). The police recorded 1,109,017 violent incidents, which is a 12% increase since 2002/2003, partly attributed to the implementation of the NCRS (p. 67), increases in the reporting of crime by the general public, increases in police activity, and improvements in recording crime (p. 69) For more than a quarter of a century, from 1969 to 1996, burglary and theft accounted consistently for about half of all recordable offences in England and Wales. The peak was reached in 1992 when they made up 52 percent of recorded crime. By 2004-5 the four types of theft accounted collectively 30% of all crime, according to British Crime Survey report (Home Office 2007). During the time period under study, there was a steady increase in robberies with two peaks followed by sharp declines occurring in 1996 and 2001-02, the latter of which may be partly attributed to the implantation of the NCRS. Ninety percent of the robberies were of personal property, while the balance was robberies of businesses (Dodd et al., 2004, p. 79). The BCS also recorded increases in the robbery rates between 1981 and its 2003-04 interviews, with a peak in 1999. Following this peak, rates declined significantly (-32%). In the Crime in England and Wales 2003-04 report, the conclusion was that for this time period, robbery numbers were too low to provide reliable estimates, although