Wednesday, December 11, 2019
Purchase Intention for Multiplatform Strategies-myassignmenthelp
Question: Discuss about thePurchase Intention for Multiplatform Strategies. Answer: Develop purchase intention This is the extent to which a brand is worthy of being bought by the customer. It is calculated from the D-score, when the price index is subtracted from the consumer desire. In this case, the warmth and consumers purchase intention significantly influences the purchase intention. Mainly in the selected area, China, one will find very low and elusive brand loyalty. According to the research, competence and brand warmth, due to their well blending with each other, affected the purchase intention positively. Thus, high levels of competence and warmth levels affect the brand benefits beyond individual effects (Kim and Han 2014, pp.256). Key findings The research found that advertisement exposure was both through the online and offline platform. Also, it ascertains that by using multiplatform strategies, salient features of the brand perception is exerted which then affect purchase intention. Some key methods of improving the purchase intention found were enhancing the warmth of the brand and also the perceived competence. Customers will brand a product reliable if it has a high competence and gives them the warmth they need. When a brand is excellent and warm, it can be helpful, sincere and even modest. Also, it has been noted that offline advertisements are cheaper than online advertisements (Imhoff et al. 2013,pp.4). However, the targeted segment and access is quicker than when done offline. Lastly, effects exhibited by these brands are traceable to the advertisement they appear in. This is an important discovery as brands frequently endeavor to distinguish themselves. Reference list Kim, Y.J. and Han, J., 2014. Why smartphone advertising attracts customers: A model of Web advertising, flow, and personalization.Computers in Human Behavior,33, pp.256-269. Imhoff, R., Woelki, J., Hanke, S., and Dotsch, R. (2013). Warmth and competence in your face! Visual encoding of stereotype content.Frontiers in Psychology, 4.
Wednesday, December 4, 2019
Split Brain Essay Example
Split Brain Essay Throughout history, the brain has been described as the most unique and complex organ in the human body. From the dawn of civilization as we know it, humans have earnestly studied the structures and functions of the brain. Despite their efforts over the centuries, we still know very little. However, due to the early primary research work of two well known biological psychologists, Roger Sperry and Michael Gazzaniga, scholars have obtained some insight into the brain’s characteristics and functions, according to Bridget Dauphin’s online discussion (http://www.xula.edu/xulanexus/issue1/Dauphin.html). Findings from Sperry and Gazzaniga’s research have led to significant theories about the lateralization of brain function in humans. There are various theories hypothesizing that the different hemispheres may have different personalities, different minds and also conflicting action plans.According to Moritz (1986), for example, hemispheric specialization is one of the major characteristics of the brain. This means that the right hemisphere has special cognitive tasks it completes well; and the left hemisphere has special cognitive tasks for which it exerts dominance in terms of processing information. Indeed, based upon the literature in neurobiology, the left side of the brain in humans controls language-related and analytical skills, while the right side dominates the areas associated with non-verbal and non-linguistic stimuli like visual and spatial tasks, pattern recognitions, musical information as well as artistic and emotional expressions. Also it should be noted that the two hemispheres exercise criss-cross lateral functions in the body which is called contralateralization. This refers to the situation in which the left brain controls the right side of the body and the right brain controls the left side (Moritz, 1986).Carlson (1994) also discovered that split-brain studies seem to provide the evidence for the importance of criss-cross com munication between the two hemispheres so that humans can process information successfully. He notes the following, as described on Dauphin’s web site:Although different skills lie primarily within different hemispheres, the importance of communication between the two sides becomes apparent as one delves into the findings of split-brain research. This research involves studying humans and animals with their left and right hemispheres surgically separated. Such surgeries are not done for experimental purposes in human beings, but, rather, to treat specific brain disorders. For example, some split-brain surgeries have been used to treat life-threatening epilepsy that is unresponsive to drug therapy (http://www.xula.edu/xulanexus/issue1/Dauphin.html).Therefore, based upon the work of these researchers across the world and over the course of time, the term split-brain can be defined as the outcome of a surgical procedure in which the corpus callosum connecting the two hemisphe res of the brain is severed. The general definition found in various studies summarizes the whole split-brain outcome that some patients suffering from severe and violent epileptic seizures become split-brain, through a surgical operation called a corpus callosotomy. Even though it is a rare neurological procedure that is performed, the objective of the neurosurgeon is to decrease the chances of risking death, accidents and physical injuries in the lives of their epileptic patients. Therefore, a corpus callosotomy has been used to control severe and violent epileptic episodes so that affected people do not harm themselves or their families.Neurological Behavior of Split-Brain PatientsIt has been observed that people with a split-brain, when shown an image in their left visual field (the left half of what each eye sees), will be unable to verbalize what they have seen. This inability happens because the left hemisphere controls the speech mechanism in most humans on our planet, and t hus, the picture from the left visual field is sent only to the right hemisphere. Since the two sides of the brain cannot communicate any more owing to the corpus callosum being severed, the patients cannot name what they are seeing. The persons can, however, pick up a corresponding object (one within the left overall visual field) with their left hand, since that hand is controlled by the right side of their brain. This is why some researchers have also speculated that the split-brain patients seem to have two minds, two natures, each hemisphere with its own special goals and unique operations (Cohen 2006: 90).Definition of Brain ComponentsAccording to the Cognitive Psychology Group 212, the following factors describe the major components of the anatomy of the brain, and what happens if those components suffer trauma or injury.Brainstem. The brainstem is located in the lower part of the brain and controls functions necessary for human life such as breathing, heart rate, and dig estion. It connects with nerve fibers at the bottom of the brain and leads into the spinal cord nervous system.Cerebellum. Also found in the back region of the brain, the cerebellum significantly controls balance and muscle coordination in humans. People who suffer from injuries to this area would most likely experience problems with taking care of themselves and simple walking and physical exercises.Frontal Lobe. Since the frontal lobe is the area primarily responsible for human personality and higher cognitive processing, it is not difficult to understand how damage or injury in this area can result in transformation of people’s personality. The frontal lobe contains two very important sections, the anterior and posterior lobes. The anterior section controls the characteristics of one’s personality, whereas the posterior region dominates the execution of motor skills and coordination in humans.Occipital Lobe. Also located in the back of the brain, the occipital lobe assists people in processing the visual information they receive from the environment. Thus, it is not surprising that damage to this region causes people to experience major vision problems and difficulty with recognizing simple objects.Parietal Lobe. The parietal lobe works with human sensation, and, like the frontal lobe, it is divided into two sub-regions. The right parietal lobe is more visual and spatial-oriented. Therefore, any injury to the right lobe would most likely result in the patients experiencing  difficulty with navigating new and even familiar environments. Likewise, any damage to the left lobe, â€Å"which is more sensory oriented, may affect a patient’s language abilities†(Cognitive Psychology 212 Group).Temporal Lobe. Both right and left temporal lobes deal with skill-based tasks associated with humans’ comprehension of language, such as memory, interpretation and processing of auditory input, that is, what we hear in the environment. Th e right lobe has also been described as the component of our brains most concerned with visual memory, whereas the left lobe is most concerned with verbal memory.Corpus Callosum. Notably, the corpus callosum connects the right and left hemispheres of the brain, and sends information between them. So it enables humans to experience life and the environment with all of their diverse stimuli, holistically. However, in the cases of split-brain patients, the connection with the corpus callosum between the two regions would have been cut (Cognitive Psychology 212 Group) causing split-brain people to manifest certain â€Å"unusual†behavior.Background History Research on Split-Brain PatientsMany studies have indicated that when patients initially undergo surgery to sever the connection between the right and left hemispheres, there may be no major changes; however, the findings from several experiments do document significant effects after all. Most experiments, including those done by Sperry, and Gazzangaga, involved flashing a picture to one visual field while blocking the other field. In such studies, researchers would flash a picture to the right eye to be processed by the left side of the brain, and to the left eye to be processed by the right side. Surprisingly, they found that when pictures were flashed to the right side (left brain), the patients had no trouble identifying the object in the picture, but when pictures were flashed to the left side (right brain), patients were unable to see a picture. However, when the patients were instructed to reach behind a screen to pick out the correct item, they always chose the item that had been flashed to their right brain (Cognitive Psychology Group 212).Specifically, for example, Dauphin (2000) also indicates that in the 1960s, â€Å"Roger Sperry had begun conducting split-brain studies. Initially, he experimented on cats by severing the corpus callosum, the major bundle of axons joining the left and righ t hemispheres of the brain†(http://www.xula.edu/xulanexus/issue1/Dauphin.html). Dauphin advocates that Sperry’s different experiments demonstrated the significant role of the corpus callosum in transferring messages across the brain hemispheres. Two-way communication among superior capacities of the brain, such as perception, memory, and cognition is possible because of the corpus callosum. Furthermore, states Dauphin, Sperry’s research also indicated that without the corpus callosum the brain is like two separate entities, one functioning without awareness of the other (as cited in Moritz, 1986).Looking back, â€Å"one of the first experiments involved flashing a picture of a spoon in the visual field of a patients right hemisphere (not shown to the left hemisphere). The subject was then instructed to select the item he had seen by touching it. With his left hand (controlled only by the right hemisphere in split-brain patients), the person reached behind a scr een to examine several objects by touch and correctly chose the spoon (as cited in Moritz, 1986).However, when asked which item was shown, the patient could not give the correct answer verbally. These results indicated that the right hemisphere contained spatial information and the left hemisphere was the source of language and analytic skills. Because the spoon was not shown to the left hemisphere, the center of language skills, it could not be verbally identified†(as cited in Teyler, 1975).These split-brain researchers have therefore concluded that the left brain in humans must control language since the patients who had seen the pictures flashed on that side could describe the object. Since the right brain does not have a language processing center, patients were unable to produce words describing the object when it was flashed exclusively to that side. But, the right brain still understood the contents of the picture because the patients were able to pick out the object f rom behind the screen when instructed to do so.Split brain patients, therefore, seem somewhat fortunate still because their medical condition of a severed callosum does not hinder their normal lives. Nevertheless, however, many have undergone some major changes soon after the surgery, as certain experiments have already established. â€Å"For the most part, split-brain patients can function normally due to other areas of the brain that assist in communication; however, some problems do surface. In the most extreme cases, the left and right sides of the body come into direct conflict. For example, one patient described his right hand struggling to pull up his pants while his left hand pushed them down. On another occasion, this mans left hand (controlled by the emotional right hemisphere) attempted to strike his wife, while his right hand (controlled by the logical left hemisphere) tried to prevent it†(Springer and Deutsch, 1981).In essence, according to Springer Deutsch (19 81), split-brain patients do report complaints that are not so strange. â€Å"For example, some patients experience difficulties in associating names with faces, which is due to a disconnection between verbal skills and facial recognition skills. Similarly, other patients report difficulties in handling geometrical tasks and may have trouble in geometry classes. Still others complain of a poor memory and a lack of dreaming, but these have not been verified as specifically resulting from split-brain operations.†Springer Deutsch (1981) also believe that even when patients do report problems, the obstacle they complain about seem very subtle. They claim that it should be noted that in addition to the  corpus callosum, there are other mechanisms in the brain â€Å"that provide alternate links between the hemispheres. Also, because both hemispheres generally receive the same visual information, the perception of the world generally comes together as a whole even in split-brai n patients.† Many scientific fields have benefited from Roger Sperry’s work and others in this field. Scholars now have some insight about how brain hemispheric specialization works and how various disorders and conditions can be treated in neurosurgery. Thus, it was not surprising that in 1981 Roger Perry obtained the Nobel Prize for his experimental work on the split brain. Perry and others have established that special tasks and functions are specific to a brain domain, either left or right.Summary of the Functions of the Split-BrainHemispheric Specialization.The left and right hemispheres of the brain have specialized functions for most people. The left hemisphere is a language centre while the right hemisphere processes spatial information. These differences are most obvious in those rare individuals whose corpus callosum was surgically severed to help control a severe form of epilepsy. Jonathan Cohen believes that humans’ minds can be described as having a mind of their own separate from mental brain function. At times they think rationally, but then they allow emotional responses to override good judgments (90). He believes that this theory can explain the contradictions so evident in daily life and our perceptions: science versus religion; facts versus intuition, and so forth.Iaccino’s Cognitive Styles Associated with Cerebral Hemispheres________________________________________Left Hemisphere                  Right HemisphereVerbal                                    Nonverbal, visuospatialSequential, temporal            Simultaneous, gestaltAnalytic                                SyntheticRational                                 IntuitiveWestern thought                    Eastern thought________________________________________(James F. Iaccino, 1993: 30)According to James Iaccino (33), clinical studies on split brain patients do seem to demonstrate a dichotomy of hemispheric specialization just as in studies with normal subjects. He advocates that each hemisphere indeed has its own cognitive style as depicted in the table above.This table shows the different functions of the right and left hemispheres of the brain. It also displays the functions of the left and right hemisphere. The left brain is better at speaking, writing, mathematical calculations, and reading, and is the primary processing center for language. The right hemisphere, on the other hand, possesses superior capabilities for pattern recognitions: recognizing faces, solving prob lems involving spatial relationships, symbolic reasoning, and artistic activities (33).ConclusionIn summary, it is now known that the right hemisphere controls important nonverbal functions (facial discriminations and musical recognitions), yet, however, it is supported by the left hemisphere, especially in more complex visual and spatial cognitive tasks. The functional asymmetries reported for each of the hemispheres suggest that the cortical differences are mainly ones of relative (rather than absolute) specialization: namely, the left hemisphere is more language-oriented than the right, whereas the right is more visually spatial-oriented than the left. Although relatively specialized for a particular input, each hemisphere still requires the other to complement its overall functioning. Because people with split brains can not combine the information of both hemispheres, their behavior may seem pretty strange to others.The problem that has been observed among split-brain patients was that the two hemispheres of the brain communicate with each other, and if the communication was destroyed then the functions could be handled by one hemisphere better then the two combined. These split-brain experiments proved that there was dominance in each hemisphere of the brain to perform certain tasks. Even though a connected brain can perform the tasks of both sides. They also showed that the brain is capable of performing these tasks even when the corpus callosum has been severed. Although some tasks are performed better when the brain is able to communicate between the hemispheres. Such research findings are helpful to the sciences in many instances. For instance, the split-brain research helps people understand the different parts of the brain, and how they work. Also when injuries occur to the brain, psychologists and neurosurgeons can determine the possible effects on the patients and the changes they could possible undergo. Finally, psychologists will also have a be tter understanding of how the human brain works.
Wednesday, November 27, 2019
Sociology and Dominant Social Values Essay Sample free essay sample
A system is fundamentally a construct whether physical or societal. The thought of a system is cardinal with environment. The impression of a societal system is a general one can be applied to societal organisation that are carefully and intentionally planned. As a societal system school is characterized by an mutualist construction of parts. a clearly defined population. differentiated from its environment. a complex web of societal relationships and its ain alone civilization. As a consequence school itself is a societal system. Social system is a theoretical account of organisation that possesses a typical sum integrity beyond its constituent parts. It is distinguished from its environment by in a heartfelt way defined boundary. It is composed of sub-units. elements and sub-systems that are interrelated within comparatively stable forms of societal order. This can be stated diagrammatically as follows: Boundaries: Every societal system has proper boundary in the same mode the school edifice has besides bounded to divide from the environment. We will write a custom essay sample on Sociology and Dominant Social Values Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The schools edifice. as the unit of analysis. coincide with the larger schooling system. It is of import to specify carefully the boundaries and the unit of analysis. Environment: Outside boundaries there exists another unit of analysis i. e. environment which ( I ) Affects the properties of the internal constituent.( two ) It is changed by the societal system itself. Educational policies. decision makers. other schools and the community arc some elements of representing environment. Homeostasis:It is a procedure in which a group of regulators act to keep a steady province among the system constituents. A biological analogy illustrates the construct when an being moves from a warm environment to a cold 1. homeostatic mechanism trigger reaction to keep organic structure temperature. Feedback Loop: In a societal system the triping mechanism is the feedback cringle. This ensures that a part of the school’s behavior and the internal and external environment’s reactions to that behavior are filtered back into the system as input. Equilibrium: When societal and biological parts of the system maintain a changeless relationship to each- other so that no portion changes its place or relation with regard to all other parts. The major elements of a societal system are ( two ) Institutional Elementss:Institution. its function and outlooks are the conceptual elements of homothetic or normative dimension. Institutions are bureaus established to transport out certain imperative! Functions for the societal system as a whole the imperative maps are those which in clip have become the constituted maps of the societal system. The school is an establishment because it is an bureau established to transport out the map of socialisation which is an imperative map of the societal system ol the school. Thus. school can be described as an establishment every bit good as a societal system. Both footings are. nevertheless. used in a different sense. A function exists merely within a peculiar societal system and represents a peculiar place within that system. It involves certain rights and responsibilities. A individual is expected to set these into consequence. When he does that he is said to be executing his function. ( three ) Individual Component: Each societal system is inhibited by populating people. Whenever function is being performed. it is performed by persons. Each single stamps the function he occupies with the alone manner of his ain form of expressive behavior ; Personal dimension involves the personality of the function officeholder. The personality may be defined by the constituent demand temperaments. The demand temperaments are conceived of as forces within an person. A school is thought of as a societal system. with its characteristic institutional maps. functions and outlooks. As an establishment it has the map of socialisation. There are assorted officeholders in it who have to play the functions expected of them. In the societal system of a school the end behavior is achieved through the intergration assorted establishments. SOAN 3351: School as a Social System* Up one degreeHistorically. the intent of schooling has been to socialise kids and young person as agents in the reproduction of bing societal dealingss. The organisation and course of study of schooling is expected to reflect the topographic point of kids. young person and grownup scholars in the societal system as a whole. and to ease their elementary appropriation of dominant societal values and normative dealingss. This has meant that schools have frequently examined educational organisation and societal issues in ways that attenuate struggle and vague societal contradictions. One primary focal point of the class for this Fall term will be disablement. Several paperss and research studies have been produced for Nova Scotia and other Atlantic states over the last decennary or so. A repeating subject has been inclusion: what is it ; who does it profit ; is it damaging for the regular schoolroom ; is there an â€Å"inclusion bias†in educational policy ; what is the â€Å"rights-basis†for inclusion? These are inquiries we will turn to and pupil will develop in one class assignment. Other subjects for this class will be an scrutiny of modern-day issues impacting schooling and efforts at reform of its organisation and course of study. Recent public sentiment. proposals for reform and reconstituting the bringing of instruction will be discussed. We will analyze schooling through the frame of societal justness and alteration ; in other words. schooling as it relates to other facets of society. There may besides be an chance for Service Learning as a constituent of this class.
Sunday, November 24, 2019
Life Insurance Sales Talk Essays
Life Insurance Sales Talk Essays Life Insurance Sales Talk Essay Life Insurance Sales Talk Essay Essay Topic: Talk What are the highlights of LIC’s Jeevan Vaibhav? LIC’s Jeevan Vaibhav is a Life insurance Plan especially designed to meet needs of Insurance Wealth creation and Liquidity What are the key features of LIC’s Jeevan Vaibhav? Single Premium non-linked endowment assurance plan. Maturity Benefit : Sum Assured and Loyalty Addition#. Liquidity : Facility for loan. Life Cover : Full Sum Assured Payable on death during the term. # Loyalty Addition, if any, payable on Death, if it occurs during the last olicy year or on maturity. Please explain the Maturity and Life Cover Benefits under the plan. The Maturity Benefits under LIC’s Jeevan Vaibhav plan include the Sum Assured and Loyalty Addition, if any. For a person aged 35 years, paying a premium of Rs. 95730/-, the Sum Assured shall be Rs. 200000/- .The Details of benefits payable are as under:- Jeevan Vaibhav Page 1 Benefit Illustration Age Policy Term Single Premium Amount 35 years 10 y ears 95730/-* Sum Assured payable on death or 200000/maturity Loyalty Addition payable on death during the last policy year or on maturity: Assuming 6% p. a. eturn Nil 25,000/Assuming 10% p. a. return * Premium shown above is exclusive of service tax. Am I eligible to take the plan? The Plan is available for person between 8 to 65 years of age. Eligibility Conditions Age at entry Policy Term Sum Assured Premium Mode Others 8 years to 65 years 10 years Rs. 200000/- onwards in multiple of 10000/Single Service Tax at the prevailing rate applicable on premium. What is the maximum amount of premium that I can pay? There is no upper limit on the premium. Moreover you shall enjoy a rebate of Rs. 2. 00†° in case you opt for Sum Assured between 4 lacs to 5. 90lacs and a rebate of Rs3. 0†° for Sum Assured 6 lacs and above. Jeevan Vaibhav Page 2 Can I avail loan under LIC’s Jeevan Vaibhav? Yes, Loan facility is available under this plan, after completion of one policy year. Th e Loan Value is to the extent of 70% of Surrender Value. What if I wish to surrender the policy before completion of the term? We would not advise you to surrender a policy because the risk cover ceases and the contract comes to an end besides it deprives you from enjoying the full returns under the plan. However we wish to inform you that the policy shall acquire surrender value after completion of one full year.On surrendering a policy the higher of Guaranteed Surrender Value and Special Surrender Value shall be paid. Guaranteed Surrender Value The Guaranteed Surrender Value shall be 90% of the Single premium paid excluding extra premium, if any. Special Surrender Value The Special Surrender Value will be the ‘discounted value’ of the Sum Assured. Why should I opt for LIC’s Jeevan Vaibhav plan ? Because LIC’s Jeevan Vaibhav combines Security with Wealth Creation in a single plan. You deserve it to celebrate your achievements in 2022. ************* Jeevan Vaibhav Page 3
Thursday, November 21, 2019
Fogo de chao Essay Example | Topics and Well Written Essays - 1000 words
Fogo de chao - Essay Example The restaurant has 25 locations where it operates in the United States of America and 9 other locations in Brazil. The meaning of Fogo de Chao is ‘fire on the ground’ and summarizes the method of traditional gaucho of meat roasting over an open fire. The restaurant has many parts; part gluttony, part spectacle and mostly red meat. Fogo de Chao is a dining experience that is interactive where meats are carved tableside from skewers waiters who are dressed in Brazilian garb. Substitute to ordering, dinners have the liberty of trying anything and everything. Typically located in a space that is cavernous, the table meat-fest goes hand in hand with a huge and self-serve salad bar that is varied and the menu explains the different options of meat and provides drinks lists, mainly Brazilian caipirinhas. It is not hard to dismiss Fogo de Chao as a gimmick, other than it is actually very authentic. Not only is this all-someone can eat the style of table skewer of dining is popular in Brazil, where it is called riodizio (a restaurant serving riodizio is a churrascaria), however, Fogo de Chao is a Brazilian chain that is popular that immigrated to the United States rather than an Americanized take on that food of the nation. A lot of the servers are from are from Brazil, and nearly all of them worked in the other locations initially. The services are very impressive, given that the formula depends on each and every waiter’s responsibility for his/her meat(s) of the night, starting from prepping to cooking in the giant that are behind the scene s rotisseries used for serving. In addition to delivery and carve food, they supervise it from seasoning up to delivery at the optimum time. In all the locations in the United States are different, however, they are all upscale in terms of furnishing and decoration, with a lot of a fine than a look that is buffet, with a separate bar, distinctively a glass walled wine cellar that is
Wednesday, November 20, 2019
Urban Outfitters Continuing Case Study Essay Example | Topics and Well Written Essays - 1000 words
Urban Outfitters Continuing Case Study - Essay Example However, small businesses are an asset to any country and really enhance the overall GDP. Limited funds are a challenge as they have a direct effect on the growth of the business because there is pressure to pay off debts and concentration on growth is low. Even once the initial investment is made, there might not be enough cash to carry on with the daily operations, and hence, capital is always the main concern. The location is of utmost importance especially in the case of the retailer. In the case study Urban Outfitters decided to focus their store openings near colleges so that the students seeking for funky designs and used clothes can easily purchase in close proximity. Location in terms of clusters and target market are factors to be considered. The proximity and unique distribution creates exclusivity and helps companies with their niche marketing tactics. Employing efficient human resource is vital for creating an impact on consumers. In the case study, Richard and Belair, h ad entrepreuniral skills and a genuine interest in running their business, therefore they did a good job. Q2) Define what a "niche" product is. Give at least three examples of niche products. A) A niche product is the one made and marketed for a small but profitable market. It is made for a high potential market which is small in size but profitable to cater. The specific product features designed are aimed to satisfy a specific market (Advantages of Niche Marketing 2009). In order to tap this sort of a potential market, the gap in the market has to be identified. These can be customized items too for example a cake shop customizing cakes for every individual according to their choice. Occasions are always brightened with some delicacy and catering to a customized market can be profitable. Catering to the elite by exclusively creating something can also be called a niche product for example a Rolls Royce. Catering to a particular demographics, class and personality all create ni ches. A case in point can be websites that provide services for specific categories for example finding your perfect match online, relationships and dating. Such services fulfill the needs of thousands of people but are very limited in its service and not mass marketed. Q3) Explain why a niche company might have an advantage in a market. Would price necessarily be an advantage? Explain why or why not. A) Customization and exclusivity creates the importance of a niche market. Besides these factors, satisfying the needs of specific demographics in itself is an advantage because the customer feels his/her specific wants are been catered too. In the case study, the stores were located near colleges and the college students were being targeted, therefore, the sale of used clothes was identified as the missing gap for college students that have an economical budget. Therefore, the niche market allows the company to exert out energy on reaching out to the right people. resources are no t wasted in mass marketing but are instead focused on serving the small segment of loyal customers. Price may not necessarily be an advantage as seen clearly in this case study. Richard and Belair identified the needs of college students and then further increased their product line in order to synchronize the unique feel and look of each store. Many businesses in the world that operate in niche markets do have an advantage over price such as Lexus that produces limited cars and earns
Sunday, November 17, 2019
Supplier and Vendor Selection Process Essay Example | Topics and Well Written Essays - 500 words
Supplier and Vendor Selection Process - Essay Example Their past records supplying for other companies should be viewed. This is to enable the company determine the risks at hand. If a supplier has a record of giving excuses and not delivering the supplies on time, they should be discarded as quickly as possible. This is also to prevent falling behind schedule due to problems caused by a party external to the company. The second element in choosing a supplier is their experience especially in serving similar contracts. In essence, the focus should be selecting the very best of suppliers to meet the needs at hand. An experienced supplier would have many benefits to the company. First of all, the supplierwould provide the very best quality materials. Secondly, their experience would most likely make them efficient and thus the chances of a discount are high. The third aspect to consider in choosing the supplier is the costs demanded by the supplier. Every company focuses on the reduction of costs and thus such a contract should be aimed at the same. The supplier with the least costs but with the best quality should be chosen upon. The fourth element to base the choice upon is the amount of time available. Given that time is more or less limited for all activities, the company that can deliver the supplies required in the shortest time possible. This should consider the quality of supplies since the hurry could be an opportunity to deliver poor quality items. The last element is the future plans of the company. If the company aims at a continued contractwith the supplier, a strict set of requirements should be used since all the company should focus on is obtaining the best supplier both in terms of quality and reliability. In conclusion, it is you, as the chief executive of this company, should endeavor at ensuring that the supplier given the deal is the best as stipulated by the conditions of the contract at hand and the goals of the company.
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