(When I saw a lady in a ballgown....I was frankly terrified.... and I Essay

(At the point when I saw a woman in a ballgown....I was honestly terrified.... furthermore, I needed to call a cop) Are lady spoken to as the specialists or the casualties of sexual - Essay Example (eNotes, 2009.) Leo Tolstoy was conceived at Yasnaya Polyana, in Tula Province. He was the fourth in five kids. His folks passed on when he was a youngster, and he was raised by family members. In 1844 Tolstoy began his investigations of law and oriental dialects at Kazan University, yet he never took a degree. Disappointed with the standard of instruction, he returned in his examinations back to Yasnaya Polyana, and afterward invested quite a bit of his energy in Moscow and St. Petersburg. In 1847 Tolstoy was treated for venereal malady. Subsequent to contracting substantial betting obligations, Tolstoy went with in 1851 his senior sibling Nikolay to the Caucasus, and joined a mounted guns regiment. During the 1850s Tolstoy likewise started his abstract vocation. The title of Count had been presented on his progenitor in the mid eighteenth century by Peter the Great. The Kreutzer Sonata is a story of sexual fixation and envy. A common agent (Posdnicheff) gets fixated on his wifes relationship with a musician, with whom she plays pairs. The peak of his desire comes during an exhibition by his significant other and her musician accomplice of Beethovens Violin Sonata no.9 in A significant, known as the Kreutzer sonata, after which Posdnicheff murders his better half. The thought for The Kreutzer Sonata was given to Tolstoy by the on-screen character V.N. Andreev-Burlak during his visit at Yasnaya Polyana in June 1887. In the spring of 1888 a beginner execution of Beethovens Kreutzer Sonata occurred in Tolstoys home and it made the creator come back to a thought he had during the 1860s. The tale is written as a casing story and set on a train. The discussions among the travelers form into a conversation of the establishment of marriage. Posdnicheff, the central character, recounts his childhood and his ensuing regret and self-nauseate. Posdnicheff accepts that his better half is having an unsanctioned romance with a performer and he attempts to choke her, and afterward

Job Fair Brochure

Employment Fair Brochure This conversation will depict the structure, plan of action, and culture of a chose business. There will be a legitimization for why every component was chosen, and a clarification of how every selection of components will affect the picked business. A plan of action resembles some other model; it speaks to and sums up how entire organizations work together. The plan of action clarifies, in synopsis, the crucial idea of the business and how the business brings in cash, without sharing complexities of procedures, â€Å"processes, units, rules, pecking orders, work processes, and systems† (Business Model Designs and Innovation, 2005, p. ). For instance, the business that is picked is a Geriatric Health Club and Daycare. The organization brings in cash by offering wellbeing and exercise administrations to senior residents everywhere throughout the Merrillville people group; for a sensible measure of cash. The central idea of the club is to support the old , ages 55 and more seasoned, to keep on carrying on with a more advantageous and dynamic life, by offering relaxation exercises, social collaboration with their companions, nourishment instruction, and exercise (Business Model Designs, and Innovation, 2005). The plan of action was picked on the grounds that examination, demonstrates that â€Å"High-power opposition practice preparing is a doable and viable methods for checking muscle shortcoming and physical delicacy in older individuals. Conversely, multinutrient supplementation without attending exercise doesn't diminish muscle shortcoming or physical frailty† (Clements, Evans, Fiatarone, Kehayias, Lipsit, Nelson, O'Neill Roberts, Ryan, and Solares, 2009, 1769). The effect of this plan of action encourages the organization to capacity and guide the organization a gainful way. The plan of action causes the organization to remain productive by taking into account a quick expanding age gathering. â€Å"The business structure is the sort of lawful substance that exists to agreement to perform authorized work. Instances of legitimate substances are singular/sole owners, organizations, restricted risk organizations (LLC), associations, constrained associations (LP), and restricted obligation organizations (LLP)† are instances of business structures (Minnesota Department of Labor, and Industry, n. d, p. 1). The structure of the Geriatric Health Club and Daycare is an organization. An organization is a business understanding between at least two individuals, with a comprehension of making a benefit (NSW Small Business, 2001). The geriatric fitness center and childcare works under an enrolled business name. The business name the club works under is Transitions Senior Health Club and Daycare. The explanation an association was picked is on the grounds that liabilities can be shared (NSW Small Business, 2001). An utilitarian structure is for the staff. The CNAs works legitimately with clients, RNs manages the CNAs, mentors, specialist, and help the Medical specialist. The organization structure impacts the club by the sharing of liabilities and expanded money related ventures and the sharing of duties. The practical structure carries request with the staff and makes an amicable workplace (NSW Small Business, 2001). â€Å"The business culture is the manner in which your association works, the traditions, perspectives; behavior and so on † (Answer, 2007, p. 1). For instance, Transitions will utilize â€Å"The Plane tree’s approach, which is all encompassing and supports mending in all measurements; mental, enthusiastic, otherworldly, social and physical† (Axia College of University of Phoenix 2008, p194). The Plane tree’s approach augments the results of human services by consolidating â€Å"harmonizing clinical treatments, for example, psyche and body medication, restorative back rub, needle therapy, yoga, and vitality treatments with customary clinical therapies†(Axia College, 2009, p. 194). The clinical staff is all around prepared, board ensured, and authorized by the state. The coaches are confirmed in yoga, low effect activities, and little loads. The teachers are RNs with bachelor’s degrees; a Medical Doctor and a confirmed back rub specialist, will be on staff. The staff is given fourteen days of excursion and medical advantages. They are additionally given motivating force grants for out standing work. The effect that this business culture will have on Transitions is a sound, protected and quiet condition. The clients will be urged to arrive at their wellbeing objectives and lead a more extended and dynamic life. Reference Axia College of University of Phoenix. (2009). Occupation reasonable leaflet. Recovered August 30, 2009, aXcess BUS 210________Foundations of Business Course Website. This is certainly not an appropriately arranged reference posting for the reading material for this course. Your reference to this source is wrong also therefore. Answers. (2007). What is business culture? Recovered August 27, 2009, from http://answers. hurray. com/question/record? qid=20080209153352AADUsZS Business Model Designs and Innovation. (2005). Yet, What Actually is a Business Model? Recovered August 27, 2009, from http://www. inquire. com/web? qsrc=2417=0&1=dir=what+is+a+business+modle= Clements, K. M. , Evans, W. J. , Fiatarone, M. A. , Kehayias, J. J. , Lipsitz, L. A. , Nelson, M. E. , O'Neill, E. F. , Roberts, S. B. , Ryan, N. D, and Solares, G. R. (2009). Exercise preparing and dietary supplementation for physical slightness in old individuals. The New England Journal of Medicine. 330(25) 1769-1775. Recovered August 30, 2009, from http://content. nejm. organization/cgi/content/dynamic/330/25/1769 Employment Fair Brochure Employment Fair Brochure This conversation will depict the structure, plan of action, and culture of a chose business. There will be an avocation for why every component was chosen, and a clarification of how every selection of components will affect the picked business. A plan of action resembles some other model; it speaks to and sums up how entire organizations work together. The plan of action clarifies, in rundown, the central idea of the business and how the business brings in cash, without sharing complexities of procedures, â€Å"processes, units, rules, chains of command, work processes, and systems† (Business Model Designs and Innovation, 2005, p. ). For instance, the business that is picked is a Geriatric Health Club and Daycare. The organization brings in cash by offering wellbeing and exercise administrations to senior residents everywhere throughout the Merrillville people group; for a sensible measure of cash. The key idea of the club is to support the old, ages 55 and more seasoned, to keep on carrying on with a more beneficial and dynamic life, by offering relaxation exercises, social communication with their companions, nourishment instruction, and exercise (Business Model Designs, and Innovation, 2005). The plan of action was picked in light of the fact that examination, shows that â€Å"High-power opposition practice preparing is a doable and successful methods for balancing muscle shortcoming and physical slightness in old individuals. Interestingly, multinutrient supplementation without associative exercise doesn't decrease muscle shortcoming or physical frailty† (Clements, Evans, Fiatarone, Kehayias, Lipsit, Nelson, O'Neill Roberts, Ryan, and Solares, 2009, 1769). The effect of this plan of action encourages the organization to capacity and guide the organization a beneficial way. The plan of action causes the organization to remain productive by obliging a quick expanding age gathering. â€Å"The business structure is the kind of legitimate element that exists to agreement to perform authorized work. Instances of lawful substances are singular/sole owners, enterprises, restricted obligation organizations (LLC), associations, constrained organizations (LP), and restricted risk associations (LLP)† are instances of business structures (Minnesota Department of Labor, and Industry, n. d, p. 1). The structure of the Geriatric Health Club and Daycare is an organization. An association is a business understanding between at least two individuals, with a comprehension of making a benefit (NSW Small Business, 2001). The geriatric fitness center and childcare works under an enrolled business name. The business name the club works under is Transitions Senior Health Club and Daycare. The explanation an organization was picked is on the grounds that liabilities can be shared (NSW Small Business, 2001). A practical structure is for the staff. The CNAs works straightforwardly with clients, RNs directs the CNAs, mentors, advisor, and help the Medical specialist. The association structure impacts the club by the sharing of liabilities and expanded monetary ventures and the sharing of obligations. The practical structure carries request with the staff and makes an agreeable workplace (NSW Small Business, 2001). â€Å"The business culture is the manner in which your association works, the traditions, mentalities; decorum and so on † (Answer, 2007, p. 1). For instance, Transitions will utilize â€Å"The Plane tree’s approach, which is comprehensive and supports mending in all measurements; mental, enthusiastic, otherworldly, social and physical† (Axia College of University of Phoenix 2008, p194). The Plane tree’s approach expands the results of human services by joining â€Å"harmonizing clinical treatments, for example, brain and body medication, helpful back rub, needle therapy, yoga, and vitality treatments with traditional clinical therapies†(Axia College, 2009, p. 194). The clinical staff is all around prepared, board affirmed, and authorized by the state. The coaches are guaranteed in yoga, low effect activities, and little loads. The teachers are RNs with bachelor’s degrees; a Medical Doctor and a guaranteed rub specialist, will be on staff. The staff is given fourteen days of get-away and medical advantages. They are additionally given motivating force grants for out standing work. The effect that this business culture will have on Transitions is a solid, protected and peaceful condition. The clients will be urged to arrive at their health objectives and lead a more drawn out and dynamic life. Reference Axia

Overview of Classifications of Bipolar Disorder

Overview of Classifications of Bipolar Disorder Bipolar Disorder Print Why Are There so Many Classifications of Bipolar Disorder? By Marcia Purse Marcia Purse is a mental health writer and bipolar disorder advocate who brings strong research skills and personal experiences to her writing. Learn about our editorial policy Marcia Purse Updated on July 20, 2017 Bipolar Disorder Overview Symptoms & Diagnosis Causes Treatment Living With In Children Your Rights Tom Merton / Getty Images When evaluating symptoms and giving names to bipolar disorderâ€"also called manic depressionâ€"and bipolar disorders many subsets, there are no absolutes. In their book, We Heard the Angels of Madness, authors Diane and Lisa Berger describe bipolar disorder as a virulent disorder with many faces and liken it to the multi-headed Hydra of Greek mythology. Just as the Hydra sprouted several new heads for each one slain, researchers and clinicians find that for each new fact learned about bipolar disorder, more questions are raised. Symptoms are different from one person to the next. The severity of symptoms also differs. Facets of personalities combine to create additional faces of the monster. Thus, researchers, clinicians, and practitioners face a wide array of challenges in order to codify each diagnosis. In response, classification systems, subsets, and specifiers have been developed in an attempt to standardize the diagnostic process. In the United States, the primary system is the one found in The Diagnostic and Statistical Manual of Mental Disorders also known as the DSM-IV. This classification system organizes the mood disorders under the heading of Clinical Disorders (Axis I). DSM-IV Listing - Mood Disorders Depressive DisordersDysthymic DisorderMajor Depressive DisorderBipolar DisordersBipolar Disorder IBipolar Disorder IICyclothymic DisorderMood Disorder Due to a General Medical ConditionSubstance-Induced Mood Disorder To each of the above disorders, any of a number of specifiers (e.g., with seasonal pattern, with catatonic features, first episode manic, etc.) can be added to clarify the severity or course of the disorder for an individual patient. The International system is the ICD-10, The International Statistical Classification of Diseases and Related Health Problems, tenth revision. The ICD-10 provides a structure of families or related disorders and breaks them down initially into many more categories than does the DSM-IV. Bipolar disorder is within the family of mood (affective) disorders. ICD-10 Listing - Mood Disorders Manic EpisodeHypomaniaMania without psychotic symptomsMania with psychotic symptomsOther manic episodesManic episode, unspecifiedBipolar Affective DisorderCurrent episode hypomanicCurrent episode manic without psychotic symptomsCurrent episode manic with psychotic symptomsCurrent episode mild or moderate depressionCurrent episode severe depression without psychotic symptomsCurrent episode severe depression with psychotic symptomsCurrent episode mixedCurrently in remissionOther bipolar affective disordersBipolar affective disorder, unspecifiedDepressive EpisodeMild depressive episodeModerate depressive episodeSevere depressive episode without psychotic symptomsSevere depressive episode with psychotic symptomsOther depressive episodesDepressive episode, unspecifiedRecurrent Depressive DisorderCurrent episode mildCurrent episode moderateCurrent episode severe without psychotic symptomsCurrent episode severe with psychotic symptomsCurrently in remissionOther recurrent depressive disorder sUnspecifiedPersistent Mood [Affective] DisordersCyclothymiaDysthymiaOther persistent mood [affective] disordersUnspecifiedOther Mood [Affective] DisordersUnspecified Mood [Affective] Disorder In addition to the two formally recognized diagnostic classifications outlined above, there are quite a few other descriptive systems to be found in the literature. Many of these have been developed by researchers for specific projects or presented as possible alternatives as more is learned about these disorders. One such classification system is that of Young and Klerman who distinguish between six subtypes of manic depression. Young and Klerman Subtypes Bipolar I - Mania and Major DepressionBipolar II - Hypomania and Major DepressionBipolar III - CyclothymiaBipolar IV - Antidepressant-Induced Hypo/maniaBipolar V - Major Depression with a family history of Bipolar DisorderBipolar VI - Unipolar Mania

Anglicism and Pseudo Anglicism in Germany

Anglicism, Pseudo-Anglicism, and Denglisch-lass Deutsch talken, dude! Just like in many other parts of the world, the Anglo-American impact on culture and daily life can also be witnessed in Germany. Movies, games, and music are mostly of American origin, but not only  are entertainment and media influenced by it but also the language. In Germany, this influence becomes obvious in many cases. Scientists of the University of Bamberg have found out that the use of Anglicisms in Germany has increased more and more over the last twenty years; talking about substantives, it has even doubled. Of course, this is not only the fault of Coca-Cola or The Warner Brothers but also an effect of the dominance of the English language as a way to communicate with the whole world. That is why many English words have made it into everyday use in Germany and within the German language. They are not all the same; some are just lent,  and others are completely made up. Its  time to take a closer look at Anglicism, pseudo-Anglicism, and Denglisch.   Lets first face the difference between Anglicisms and Denglisch. The  first one means just those words which were adopted from the English language, most of them meaning things, phenomena, or anything else without a German expression for it - or at least with no expression that is really used. Sometimes, this can be useful,  but sometimes, it is just excessive. For example, there are plenty of German words, but people just want to sound interesting by using English ones instead. That would be called Denglisch. Digital world Examples for Anglicisms in German can easily be found in the world of computers and electronics. Whereas in the 1980s, mostly German words were commonly  used to describe digital issues, today, most people use English equivalents. An example is the word Platine, meaning (circuit) board. Another one is the rather silly sounding expression Klammeraffe, a German word for the at  sign. Besides the digital world, you could also mention Rollbrett for skateboard. By the way, nationalists or even national socialists in Germany often refuse to use English words, even if they are really common. Instead, they use German equivalents nobody would ever use like Weltnetz instead of Internet or even Weltnetz-Seite (Website). Not only  does the digital world brings many new anglicisms to Germany, but also, business-related topics are more and more likely to be described in English than in German. Because of globalization, many companies think it makes them sound more international if they use E nglish expressions instead of German ones. It is rather common in many companies today to call the Boss  the CEO - an expression that was widely unknown twenty years ago. Many use titles like that for the whole staff. By the way, staff is also an example of an English word replacing a traditional German one - Belegschaft. English assimilation While substantives are rather easy to integrate into the German language, it gets a bit more difficult and also confusing when it comes to verbs. With the German language having rather complex grammar compared to English, it becomes necessary to conjugate them in everyday use. Thats where it becomes weird. Ich habe gechillt (I chilled) is just an everyday example of an Anglicism being used just like a German verb. Especially among young people, speech  patterns like this can often be heard. The language of the youth leads us to another similar phenomenon: translating English words or phrases word by word into German, making a calque. Many German words have English origins nobody would notice at first sight. Wolkenkratzer is just the German equivalent of skyscraper (though meaning cloud-scraper). Not only single words but also whole phrases have been translated and adopted, and they sometimes even replace the correct expression that also exists in German. Saying Das macht Sinn, mean ing That makes sense, is common, but it  just doesnt make sense at all. The right expression would be Das hat Sinn or Das ergibt Sinn. Nevertheless, the first one is silently replacing the others. However, sometimes, this phenomenon is even by intention. The verb gesichtspalmieren, mainly used by young Germans, doesnt really make sense to those who dont know the meaning of face palm - it is just a word-for-word translation into German. However, as a native  English speaker, the  German  language gets confusing when it comes to pseudo-anglicisms. Many  of  them  are  in use, and they all have one thing in common: They sound English, but they were made up by Germans, mostly because somebody wanted something to sound more international. Good examples are Handy, meaning cell phone, a beamer, meaning video projector, and Oldtimer, meaning classic car. Sometimes, this can also lead to embarrassing misunderstandings, for example, if some German tells you he or she is working as a Streetworker, meaning he  or  she is dealing with homeless  people or drug  addicts and doesnt know that it originally described a street prostitute. Sometimes, it can be useful to loan words from other languages, and  sometimes it just sounds silly. German is a beautiful language that can describe almost everything precisely and doesnt need to be replaced by another one - what do you think? Are anglicisms enriching  or unnecessary?

Advertising and Marketing Using Social Media - Itunes

Advertising and Marketing Using Social Media Introduction iTunes, also known as the iTunes Store, is a leading online store for digital media and online software. Apple Incorporation operates the store. Apple inc. is a leading computer manufacturer and marketer. The store opened in 2003 to become the major music vendors and online music provide in the United States. In the recent past, the store has been offering millions of e-books, videos, songs, and applications. The success of iTunes is attributed to its business strategy and ability to market itself online. The method of doing business is rather integrative such that it reduces the costs usually incurred in operations. This report explains the iTunes advertisement strategy and†¦show more content†¦iTunes Store has not been left behind when it comes to the use of different social media to promote its products to the targeted customers. To begin with, iTunes has a Facebook page whereby different visitors can like the page (Tan, 2009, p. 33). Whenever they like the page, the rece ive updates and new products, songs and video available from the online store. This has become possible for the store to advertise its business to the increasing number of users. The other approach is the creation of fun pages on Facebook and Twitter. Consumers can understand the store’s agenda and inform them about the new materials produced. The advertisement method has made it easier to get more customers (Soskin, 2010, p. 27). The development has resulted from the fact that the major visitors of social sites are the youths who comprise a greater percentage of the store’s potential customers. iTunes has created various pages for different products marketed at the store. This has helped to advertise the products thereby marketing them to new customers. The store has also embarked on a mission to update the Facebook visitors about the new developments, organizational strategies and offers provided by iTunes. The advertisement methods have informed more people about the business thereby emerging as a leading online marketer. The online store has used various pages and information to engage the fans and customers on Twitter and Facebook. This hasShow MoreRelatedThe Social Media Marketing Strategy Essay1262 Words   |  6 Pagesto be involved in social media marketing. Just two years ago this was almost an unheard of strategy, and just 5 years ago the concept of facebook, Twitter and other social media sites was completely foreign but to a select group of individuals. But we live in the age of rapid change! The rate of knowledge doubles just every two years now, and in just two years the rate of knowledge will double on an exponential scale! Businesses that decide not to pursue a social media marketing strategy are actuallyRead MoreDr. Dre s Marketing Strategy1000 Words   |  4 Pageshave been applauded for their great marketing strategy, but criticized actually for the quality of their product and the tangible benefits that it provides. If Beats’ competitors were able to capitalize better on marketing strategies similar to Beats, but offering superior product (such as Bose headphones), they are going to be able to compete or overtake Beats. In the long term, Beats might face challenges expanding outside the United States. The specific marketing strategy they pursued in that marketRead MoreThe Music Distribution Model : Oliver Small1677 Words   |  7 Pagesindustry was a rough time for labels and artists economically due to the various online file sharing and streaming services that have become available to the public. Now that consumers are able to hold thousands of songs in the palm of their hands using iPho nes, iPods, and other portable MP3 players, the desire for access to music has increased tremendously. Before the digital era, the various forms of music distribution outlets followed the constantly changing path of production technology. WhenRead MoreThe Growing Relevance And Role Of Web Based Technologies1547 Words   |  7 PagesSocial Media Today The growing relevance and role of web-based technologies in supporting â€Å"firm operations† is widely acknowledged both by practitioners and academics (Hanafizadeh, Hanafizadeh, Khodabakhshi, 2010). The explosion of social media across the globe has impacted personal and professional communications and has opened up a variety of opportunities for interaction with communities, regions and businesses across the world. Businesses now, and more importantly in the future, are nowRead MoreMarketing And Medi The Most Important Factors Affecting The Internal Environment1100 Words   |  5 Pages3.2.3 Marketing and Media Marketing and media are also considered as the most important factors affecting the internal environment. By using and exploiting marketing and media, it will influence the cultures and entire networks through the supply chain, customers, stakeholders, and workers from different communities and social networks. Starbucks has a significant interaction by consumers not only geographically, but also on the internet. For example, Starbucks has a page in one of the strongestRead MoreThe Effects Of Digital Media On Our Lives1534 Words   |  7 PagesA 2011 national survey showed that hospital marketers anticipated a â€Å"400 percent increase in the use of digital media by 2013† (Primacy News, 2011). That percentage may seem staggering, but if we reflect on the changes that digital media has brought to our everyday lives, it might not seem that strange. Digital media touches us all on a daily basis. It’s constantly shifting and changing our views of what is â€Å"normalâ₠¬ . Fifty years ago it was normal to race to your television to catch â€Å"The Lucy Show†Read MoreThe Relationship Between Consumers And Businesses1113 Words   |  5 Pagesshift their marketing strategies, affecting not only the consumer but also the structure of society itself. Social media also facilitates globalization which has further effects on society and personal relationships. As such, technology has affected businesses, consumers, and greater society. Consumer thought process has changed dramatically due to technology. Social media has changed the way consumers communicate with each other and with businesses. Mir and Zaheer describe social media as a â€Å"broadRead MoreApple Inc. and Product (Red) Marketing Partnership Report Essay1181 Words   |  5 PagesMarketing Report - The Marketing Mix Introduction Apple Inc. is an American global organisation that designs and sells consumer electronics, computer software and personal computers. Examples of Apple Inc.s products include the iMac, iPod, the OS X operating system, and the iTunes media browser. (RED) is an AIDS charity whos aim is to raise awareness and funding to help eliminate AIDS in Africa. To help achieve their aim Product (RED) was introduced, which is a brand licensed to partner companiesRead MorePublic Relations Industry And Its Legal Issues1587 Words   |  7 PagesThe Public Relations Industry and Its Legal Issues Public Relations (PR) can sometimes be grouped in with the advertising and marketing industry, but the industry has continued to expand with the increasing digital media platforms and the need to relay information to targeted audiences. The Public Relations Society of America (PRSA) defines public relations as â€Å"a strategic communication process that builds mutually beneficial relationships between organizations and their publics† (â€Å"About PublicRead MoreResearch Paper On Android App Development1104 Words   |  5 PagesContent Marketing And Mobile Marketing Are you thinking of creating an apps for android OS, or you have created one, already? If you have, the hard part is not over, yet. Getting the android app to the people who will use it can be very challenging. In the marketplace, it is hard to get your android app noticed among millions of others. And this is keeping many developers up at night because of the saturation. But still, there is an efficient way or there are efficient ways to go about marketing it—content

An Evaluation of the Effectiveness of Premiums Promotion, Limited Free Essays

string(162) " expanded in the introduction stage, sales volume should be quickly boosted in the growth stage, and customer loyalty should be maintained in the maturity stage\." Qing Lu 2111573 10 weeks Business M. Sc. International Business Permission given to use this project Word Count: 2824 An Evaluation of the Effectiveness of Premiums Promotion, Limited- time Discount and Loyalty Card Promotion—Based on Product Life Cycle 31 August 2012 Abstract In recent years, sales promotion tactics are extensively used to achieve different marketing targets. We will write a custom essay sample on An Evaluation of the Effectiveness of Premiums Promotion, Limited or any similar topic only for you Order Now The aim of this project is to analyze the effectiveness of premiums promotion, limited-time discount and loyalty card promotion according to the marketing targets in the first three phases of product life cycle, which can help companies maximize the effects of sales promotion. The specific marketing targets in the first three stages of product life cycle are discussed and the effective sales promotion tactics are analyzed, based on a rich literature about sales promotion. The potential risks in the implementation process need to be taken into account and the possible solutions are proposed to help companies reduce the unnecessary losses. This may be of interest to marketers, which intend to enhance the competitiveness of companies.   List of references Introduction As the competitive pressure on market increases, the studies on product life cycle are paid more and more attention by marketers in recent years. On one hand, product life cycle can direct companies to set the clear marketing target in each phase. On the other hand, it can help marketers select the effective sales promotion tactics to achieve each marketing target. The selection of sales promotion strategies in each stage of product life cycle seems to be of considerable importance in achieving different marketing targets. The study by Yeshin (2006) suggests that premiums promotion, limited-time discount and loyalty card promotion play marked roles in the first three stages of product. Moreover, it appears to be necessary for marketers to set the marketing targets in different stages of product life cycle, to select the effective means of sales promotion, and to be aware of possible solutions for dealing with potential risks. As Kotler and Armstrong (2001) point out, companies can induce customers to know, to use and to be loyal for their products by the effective means of sales promotion, even if customers may have different buying habits, product preference and purchase motivation. The purpose of this paper is to analyze the effectiveness of premiums promotion, limited-time promotion and loyalty card promotion according to the three marketing targets in the first three phases of product life cycles, which tends to help companies expand new product awareness, increase market share and maintain customer loyalty. Features nd marketing targets of the first three stages of product life cycle will first be presented. The reasons for the effectiveness of the three marketing tactics mentioned above will then be analyzed, with a focus on the three corresponding marketing targets. The limitations and the possible solutions will finally be discussed to help firms reduce the potential risks. 1. Features and Marketi ng Targets of Product Life Cycle When a new product is launched into market, it will go through four stages of product life cycle, which are introduction, growth, maturity, and decline (Kotler and Armstrong 2001). The first three stages, however, may be the optimal period at which the effect of sales promotion can be maximized. Therefore, features of the first three stages and the corresponding marketing targets will be discussed in the following subsections. 1. 1 Introduction stage Introduction stage refers to a period at which new products are first introduced into market (Ibid). In this phase, the growth of sales tends to be slow because much time and money need to be invested to attract the resellers, to inform customers of new products, and to encourage the trial (Ibid). In other words, customer demand for new products should be aroused in the introduction stage. As Bhasin (2011) points out, marketers should induce customers to accept new products, thus inspiriting their desires for these products. As a result, the marketing target in introduction stage appears to maximize new products awareness and to stimulate customers to try out new products. 1. 2 Growth stage Growth stage refers to a period at which new products are widely recognized in the market, and more and more customers are willing to follow their innovators (Kotler and Armstrong 2001). The market share is likely to be quickly expanded in this stage as long as marketers attempt to form a purchasing trend. According to the illustration by Bhasin (2011), growth stage offers the appropriate opportunity to markers to occupy more market share due to the high growth rate of sales. Hence, the marketing target in this phase should be to quickly boost sales volume, so as to create a customer trend that more new customers could be attracted to follow. 1. 3 Maturity stage It is widely agreed that sales in the maturity stage continue to grow at a relatively slow rate until it reaches the peak, which means the number of customers seems to maintain relatively stable (Kotler and Armstrong 2001, Janotta 2012). There is far less agreement, however, about customers’ purchasing behaviors in this phase. Yeshin (2006) concludes that it may be a competitive period in which the existing customers are likely to buy other brands. In fact, competitive products are likely to flood into the marketplace in the maturity stage, providing more options for customers. Thus, if the effective measures are not taken, companies would lose a portion of market share. Likewise, Bhasin (2011) also illustrates that fierce market competition probably occurs in the maturity stage because some competitors tend to drive down the prices under the cost, in order to draw the attention of customers. Namely, the risk of brand switching in this phase seems to be high, so the marketing target should be set to retain customer loyalty. In conclusion, the first three stages of product life cycle have their own features, so different marketing targets need to be set in different phases: new products awareness should be expanded in the introduction stage, sales volume should be quickly boosted in the growth stage, and customer loyalty should be maintained in the maturity stage. You read "An Evaluation of the Effectiveness of Premiums Promotion, Limited" in category "Papers" Then, effective sales promotion tactics will be analyzed in the next chapter, according to the marketing targets in the three phases. 2. Analysis of the Three Sales Promotion Tactics 2. 1 Premiums promotion for new product awareness Premiums promotion refers to free products or free services that can be obtained by customers in addition to the main purchase (Yeshin 2006). Gift promotion plays an important role in new product introduction. First of all, free gifts as incentives can encourage customers to try out new products as well as inform customers about new demand. For example, 200,000 Quattro for Women razors were given out as free gifts in American by Schick, which allowed Quattro to receive the recognition of most female customers (Pride and Ferrell, 2010). It seems that free gifts are effective to stimulate customers to generate interest in new products. Yeshin (2006), however, argues that premiums promotion may reduce the value of brand due to the possible hazard caused by the free gifts in the product contents. For example, in order to attract children, small toys are often inserted into snakes as premiums, which are likely to arouse the controversy about food security, thereby resulting in brand crises. Nevertheless, premiums still contribute to expand new products awareness. Pride and Ferrell (2010) illustrates that the Promotion Marketing Association’s Product Sampling Council, according to an investigation, showed that 92%of participators in this survey indicated that free samples motivated their trials for new products. Besides, the free experience as a kind of intangible gifts could allow customers experience multi-value such as relational, emotional and behavioral value, which increases brand popularity and affinity. As a case in point, the customers who buy the new item in Burger King could watch the latest Star Wars film for free (Yeshin 2006). Not only did the famous film expand the new item awareness, but also increased customers’ affection for Burger King. In fact, the reason why premiums promotion has a great appeal to customers tends to be that it gets hold of customers’ mentalities. According to the study by Yeshin (2006), customers usually get used to regarding themselves as the weaker end of the deal, so the free products or services as the compensatory gifts can incentivize customers. Consequently, premiums as incentives can benefit to expand new products awareness in the introduction stage. 2. 2 Limited-time promotion for quick boost to sales A promotional deadline is set for customers to ensure that the volume of sales can be boosted as soon as possible, which is called limited-time promotion (Reid and Bojanic 2010). The advantage of limited-time discount lies in a short-term surge in sales, which enables companies to rapidly grab market share in the growth phase. Limited-time discount seems to create a sense of excitement and competition and a tense atmosphere. Customers tend to be attracted by excitement that limited-time discount create. Or rather, what customers love may not be products themselves but the sense of getting a good deal. Kolb (2005) also indicates that even the customers with high wages like to feel that they are smart in this way. In addition, as this kind of discount is temporary, which will restore regular prices soon, it creates a threat to customers, aiming at stimulating them to make immediate purchase (Gaffney and Francis, 2009). Such a threat appears to take effect on rapidly increasing sales. According to Reid and Bojanic (2010), Marriott International, Hyatt Hotels and Resorts, and Hilton gave discounts to customers on weekends as so to quickly boost the volume of sale, which had gotten great success. Hence, if limited-time discount is used in the growth stage, market share can be quickly expanded by increasing sales in the short term. 2. 3 Loyalty card for customer loyalty Loyalty card is used to earn points for purchasing certain products or shopping at certain retailers. When customers collect enough points, these can be exchanged for money, goods or other offers (Kotler and Armstrong 2001). One of the main functions of loyalty card is to maintain the long-term relationship between customers and brands. It motivates customers to keep buying products with fixed brand, thus strengthening customers’ brand loyalty. A study by Lancaster and Massingham (2011) shows that Tesco owed its success in becoming the largest grocery supermarket retailer in Britain to introduction of loyalty card, since loyalty card was used to reward regular purchase, thus enhancing consumer loyalty to Tesco. Furthermore, loyalty card is felt to be effective in analyzing purchasing behaviors of the existing customers and directing enterprises to improve the operation of businesses, which thus benefits to build long-lasting relationship with existing customers. As Humby, Hunt and Phillips (2007) conclude, shopping habits, brand preference and economic capability of certain customer groups can be analyzed through loyalty card data, which contribute to firms to adjust marketing strategy. As a matter of fact, most marketers concern about customer loyalty in the maturity stage in that many competitive brands have piled into the market, which may lead customers to switch other brands. Liljenwall(2004) points out that it is difficult to be loyal for most products that customers purchase, even though many of them have brand preference for commodities. Indeed, they attempt to seek the best one by constantly changing brands. However, it seems that loyalty card reduces the risks of brand switching by offering discounts for regular purchases. When facing to different brands with same quality, customers usually would like to purchase fixed brand in return for discount. That is to say, loyalty card promotion can effectively maintain customer loyalty in the maturity stage. In conclusion, the three sales promotion tactics are effectively used to help companies to achieve the marketing targets in different phases: premiums promotion expands new products awareness in the introduction stage since this way could induce consumers to try out new items; limited-time promotion probably helps companies increase market share in the growth stage through boosting the volume of sales as soon as possible; loyalty card seems to be effective to maintain customer loyalty in the maturity stage because marketers would like to provide discount or gifts in return for regular purchase. Nonetheless, some potential risks may occur in the implementation. In order to maximize the effects of sales promotion on different phases of product life cycle, limitations and possible solutions of the three means of sales promotion will be discussed in the next main section. 3. Limitations and Possible Solutions 3. 1 Risks of premiums promotion There seems to be two limitations in premiums promotion. First, it is difficult for marketers to ensure that premiums or free samples are attractive enough to their target customers (Ace 2002). In the introduction stage, new products usually need to be widely aware, so if premiums cannot arouse customers’ interest, marketers may lose chances to convince customers to try out their new products. Second, the cost of premiums and the value that customers perceive should be balanced. As Yeshin (2006) illustrates, the low-cost premiums may be perceived as low quality, thus reducing the brand value of new products themselves, whereas free gifts with high quality often cost much. Hence, it is felt to be difficult for marketers to forecast the perceived value of premiums and to ensure that premiums can enhance new products reputation. 3. 2 Risks of limited-time discount Two possible limitations should be taken into account when limited-time discount is implemented. First, overusing limited-time discount probably shakes consumers’ decision for instant purchase in that they get used to waiting for discounts (Hendershot-Hurd 2007). As most customers are waiting for discount, it seems possible that the growth rate of sales becomes low in the growth stage. Second, if the time interval between the end of a limited-time discount and the start of the next limited-time discount is short, the perceived value of products may be reduced (Devlin, Ennew, McKechnie, and Smith 2007). In other words, Customers may regard the promotional price as the actual value. As a result, once restoring the original price, products may become unacceptable. 3. 3 Risks of loyalty card promotion The security of personal data caused by loyalty cards may lead to customer dissatisfaction (Janotta 2012). For example, customers probably regard loyalty cards as source of spamming, thereby refusing to use loyalty card; they may also feel that individual privacy is offended, which could directly decrease customer satisfaction and destroy customer loyalty; if rewards cannot satisfy customers, they are likely to lose interest in loyalty card. As Janotta (2012) concludes, loyalty card system often disappoints consumers because of unattractive rewards, harsh requirements for exchange, and time and place limit. 3. 4 Possible solutions With regard to the limitations above, the possible solutions are proposed by Yeshin (2006) and Kotler and Armstrong (2001) as follow: * A small quantity of premiums should be first used at the beginning of introduction stage for market test, and a mass of premiums or free samples should be then used to expand new products popularity. * Time limited discount should be reasonably used and the promotion cycle should be identified by market investigation * Integrated promotion replacing single promotion should be used to stimulate customers in the first three stages of product life cycle. These possible solutions enable companies to reduce the risks in the implementation, thereby avoiding the unnecessary losses. All in all, the risks of sales promotions should be considered by marketers. First, low attractiveness and low perceived value of premiums could reduce the interest of customers in new products. Second, overuse and short cycle of limited-time promotion tend to compel companies to cut prices in that customers may overly relay on discount and reject to purchase at the original price. Third, the invasion of privacy caused by loyalty cards can result in decreasing customer satisfaction since customers could feel to be offended. Furthermore, in terms of possible solutions, early market test on a small scale enables companies to adjust promotion strategies, appropriate promotion cycle probably stimulate customers to make instant purchase decision, and integrated promotion mode could make better use of the advantages of sales promotion and compensate for the disadvantages of each other. Conclusion Sales promotion tactics seems to be of considerable importance in achieving different marketing targets. This paper analyzed the effectiveness of three sales promotion tactics according to the three marketing targets mentioned above. First, premiums could encourage customers to try out new products, which are beneficial to expand new products popularity in the introduction stage. Second, limited-time promotion is used to increase sales as sons as possible, eventually occupying more market share in the growth stage. Third, loyalty card has great advantage in keeping long-term relationship with existing customers, which could reduce the risk of brand switching in the maturity stage by rewarding regular purchase. Nevertheless, it seems to be inevitable that the three sales promotion strategies have limitations. First of all, the quality and attractiveness of free gifts may directly influence the perceived values of new products. Furthermore, limited-time discount may stop products from restoring the original prices since customers prefer to wait for discounting. Finally, even if companies may obtain useful information about customers through analyses of loyalty card data, customer satisfaction is probably reduced due to the invasion of individual privacy. The possible solutions can be summarized as market test on a small scale, appropriate promotion cycle, and integrated promotion mode, which could reduce the risks above and maximize the effects of sales promotion. In discussing process in premiums promotion, limited-time discount and loyalty card promotion, it was conclude that the three tactics of promotion can be effective to help companies achieve the marketing targets in the first three phases, based on a rich literature about sales promotion. However, it should be noted that a detailed analysis of other tactics of sales promotion realizing different marketing targets is not involved in this paper and future work could be done in this area. This would mainly focus on online marketing and could help marketers enhance the competitiveness of online marketing by appropriate strategies of sales promotion. References Ace, C. (2002) Effective Promotional Planning for e-Business. Oxford: Butterworth-Heinemann Devlin, J. , Ennew, C. ,McKechnie, S. , and Smith, A. (2007) ‘A study of time limited price promotions’. Journal of Product amp; Brand Management 16 (4), 280 – 285 Gaffney, S. and Francis, C. (2009) Honesty Sells: How to Make More Money and Increase Business Profits. Hoboken: John Wiley amp; Sons Humby, C. , Hunt, T. , and Phillips, T. (2007) Scoring Points: How Tesco Continues to Win Customer Loyalty. London: Kogan Page Hendershot-Hurd, K. (2007) Beyond the Niche: Essential Tools You Need to Create Marketing Messages that  Deliver Results. Swindon: Acuminate Janotta, S. (2012) Loyalty Cards in the Apparel Retail Industry. Munich: Grin Verlag Kolb, B. M. (2005) Marketing for Cultural Organizations. London: Thomson Learning Kotler, P. and Armstrong, G. (2001) Principles of Marketing. Upper Saddle River: Prentice Hall Lancaster, G. and Massingham, L. (2011) Essen tials of MarketingManagement. Abingdon: Routledge Liljenwall, R. (2004) The Power of Point-of-Purchase Advertising: Marketing At Retail. Washington, DC: Point-Of-Purchase Advertising International   Pride, W. M. and Ferrell, O. C. (2010) Marketing. Stamford: Cengage Learning Reid, R. , D. and Bojanic, D. , C. (2010) Hospitality Marketing Management. Hoboken: John Wiley amp; Sons Yeshin, T. (2006) Sales Promotion. London: Thomson Learning How to cite An Evaluation of the Effectiveness of Premiums Promotion, Limited, Papers

An Evaluation of the Effectiveness of Premiums Promotion, Limited Free Essays

string(162) " expanded in the introduction stage, sales volume should be quickly boosted in the growth stage, and customer loyalty should be maintained in the maturity stage\." Qing Lu 2111573 10 weeks Business M. Sc. International Business Permission given to use this project Word Count: 2824 An Evaluation of the Effectiveness of Premiums Promotion, Limited- time Discount and Loyalty Card Promotion—Based on Product Life Cycle 31 August 2012 Abstract In recent years, sales promotion tactics are extensively used to achieve different marketing targets. We will write a custom essay sample on An Evaluation of the Effectiveness of Premiums Promotion, Limited or any similar topic only for you Order Now The aim of this project is to analyze the effectiveness of premiums promotion, limited-time discount and loyalty card promotion according to the marketing targets in the first three phases of product life cycle, which can help companies maximize the effects of sales promotion. The specific marketing targets in the first three stages of product life cycle are discussed and the effective sales promotion tactics are analyzed, based on a rich literature about sales promotion. The potential risks in the implementation process need to be taken into account and the possible solutions are proposed to help companies reduce the unnecessary losses. This may be of interest to marketers, which intend to enhance the competitiveness of companies.   List of references Introduction As the competitive pressure on market increases, the studies on product life cycle are paid more and more attention by marketers in recent years. On one hand, product life cycle can direct companies to set the clear marketing target in each phase. On the other hand, it can help marketers select the effective sales promotion tactics to achieve each marketing target. The selection of sales promotion strategies in each stage of product life cycle seems to be of considerable importance in achieving different marketing targets. The study by Yeshin (2006) suggests that premiums promotion, limited-time discount and loyalty card promotion play marked roles in the first three stages of product. Moreover, it appears to be necessary for marketers to set the marketing targets in different stages of product life cycle, to select the effective means of sales promotion, and to be aware of possible solutions for dealing with potential risks. As Kotler and Armstrong (2001) point out, companies can induce customers to know, to use and to be loyal for their products by the effective means of sales promotion, even if customers may have different buying habits, product preference and purchase motivation. The purpose of this paper is to analyze the effectiveness of premiums promotion, limited-time promotion and loyalty card promotion according to the three marketing targets in the first three phases of product life cycles, which tends to help companies expand new product awareness, increase market share and maintain customer loyalty. Features nd marketing targets of the first three stages of product life cycle will first be presented. The reasons for the effectiveness of the three marketing tactics mentioned above will then be analyzed, with a focus on the three corresponding marketing targets. The limitations and the possible solutions will finally be discussed to help firms reduce the potential risks. 1. Features and Marketi ng Targets of Product Life Cycle When a new product is launched into market, it will go through four stages of product life cycle, which are introduction, growth, maturity, and decline (Kotler and Armstrong 2001). The first three stages, however, may be the optimal period at which the effect of sales promotion can be maximized. Therefore, features of the first three stages and the corresponding marketing targets will be discussed in the following subsections. 1. 1 Introduction stage Introduction stage refers to a period at which new products are first introduced into market (Ibid). In this phase, the growth of sales tends to be slow because much time and money need to be invested to attract the resellers, to inform customers of new products, and to encourage the trial (Ibid). In other words, customer demand for new products should be aroused in the introduction stage. As Bhasin (2011) points out, marketers should induce customers to accept new products, thus inspiriting their desires for these products. As a result, the marketing target in introduction stage appears to maximize new products awareness and to stimulate customers to try out new products. 1. 2 Growth stage Growth stage refers to a period at which new products are widely recognized in the market, and more and more customers are willing to follow their innovators (Kotler and Armstrong 2001). The market share is likely to be quickly expanded in this stage as long as marketers attempt to form a purchasing trend. According to the illustration by Bhasin (2011), growth stage offers the appropriate opportunity to markers to occupy more market share due to the high growth rate of sales. Hence, the marketing target in this phase should be to quickly boost sales volume, so as to create a customer trend that more new customers could be attracted to follow. 1. 3 Maturity stage It is widely agreed that sales in the maturity stage continue to grow at a relatively slow rate until it reaches the peak, which means the number of customers seems to maintain relatively stable (Kotler and Armstrong 2001, Janotta 2012). There is far less agreement, however, about customers’ purchasing behaviors in this phase. Yeshin (2006) concludes that it may be a competitive period in which the existing customers are likely to buy other brands. In fact, competitive products are likely to flood into the marketplace in the maturity stage, providing more options for customers. Thus, if the effective measures are not taken, companies would lose a portion of market share. Likewise, Bhasin (2011) also illustrates that fierce market competition probably occurs in the maturity stage because some competitors tend to drive down the prices under the cost, in order to draw the attention of customers. Namely, the risk of brand switching in this phase seems to be high, so the marketing target should be set to retain customer loyalty. In conclusion, the first three stages of product life cycle have their own features, so different marketing targets need to be set in different phases: new products awareness should be expanded in the introduction stage, sales volume should be quickly boosted in the growth stage, and customer loyalty should be maintained in the maturity stage. You read "An Evaluation of the Effectiveness of Premiums Promotion, Limited" in category "Papers" Then, effective sales promotion tactics will be analyzed in the next chapter, according to the marketing targets in the three phases. 2. Analysis of the Three Sales Promotion Tactics 2. 1 Premiums promotion for new product awareness Premiums promotion refers to free products or free services that can be obtained by customers in addition to the main purchase (Yeshin 2006). Gift promotion plays an important role in new product introduction. First of all, free gifts as incentives can encourage customers to try out new products as well as inform customers about new demand. For example, 200,000 Quattro for Women razors were given out as free gifts in American by Schick, which allowed Quattro to receive the recognition of most female customers (Pride and Ferrell, 2010). It seems that free gifts are effective to stimulate customers to generate interest in new products. Yeshin (2006), however, argues that premiums promotion may reduce the value of brand due to the possible hazard caused by the free gifts in the product contents. For example, in order to attract children, small toys are often inserted into snakes as premiums, which are likely to arouse the controversy about food security, thereby resulting in brand crises. Nevertheless, premiums still contribute to expand new products awareness. Pride and Ferrell (2010) illustrates that the Promotion Marketing Association’s Product Sampling Council, according to an investigation, showed that 92%of participators in this survey indicated that free samples motivated their trials for new products. Besides, the free experience as a kind of intangible gifts could allow customers experience multi-value such as relational, emotional and behavioral value, which increases brand popularity and affinity. As a case in point, the customers who buy the new item in Burger King could watch the latest Star Wars film for free (Yeshin 2006). Not only did the famous film expand the new item awareness, but also increased customers’ affection for Burger King. In fact, the reason why premiums promotion has a great appeal to customers tends to be that it gets hold of customers’ mentalities. According to the study by Yeshin (2006), customers usually get used to regarding themselves as the weaker end of the deal, so the free products or services as the compensatory gifts can incentivize customers. Consequently, premiums as incentives can benefit to expand new products awareness in the introduction stage. 2. 2 Limited-time promotion for quick boost to sales A promotional deadline is set for customers to ensure that the volume of sales can be boosted as soon as possible, which is called limited-time promotion (Reid and Bojanic 2010). The advantage of limited-time discount lies in a short-term surge in sales, which enables companies to rapidly grab market share in the growth phase. Limited-time discount seems to create a sense of excitement and competition and a tense atmosphere. Customers tend to be attracted by excitement that limited-time discount create. Or rather, what customers love may not be products themselves but the sense of getting a good deal. Kolb (2005) also indicates that even the customers with high wages like to feel that they are smart in this way. In addition, as this kind of discount is temporary, which will restore regular prices soon, it creates a threat to customers, aiming at stimulating them to make immediate purchase (Gaffney and Francis, 2009). Such a threat appears to take effect on rapidly increasing sales. According to Reid and Bojanic (2010), Marriott International, Hyatt Hotels and Resorts, and Hilton gave discounts to customers on weekends as so to quickly boost the volume of sale, which had gotten great success. Hence, if limited-time discount is used in the growth stage, market share can be quickly expanded by increasing sales in the short term. 2. 3 Loyalty card for customer loyalty Loyalty card is used to earn points for purchasing certain products or shopping at certain retailers. When customers collect enough points, these can be exchanged for money, goods or other offers (Kotler and Armstrong 2001). One of the main functions of loyalty card is to maintain the long-term relationship between customers and brands. It motivates customers to keep buying products with fixed brand, thus strengthening customers’ brand loyalty. A study by Lancaster and Massingham (2011) shows that Tesco owed its success in becoming the largest grocery supermarket retailer in Britain to introduction of loyalty card, since loyalty card was used to reward regular purchase, thus enhancing consumer loyalty to Tesco. Furthermore, loyalty card is felt to be effective in analyzing purchasing behaviors of the existing customers and directing enterprises to improve the operation of businesses, which thus benefits to build long-lasting relationship with existing customers. As Humby, Hunt and Phillips (2007) conclude, shopping habits, brand preference and economic capability of certain customer groups can be analyzed through loyalty card data, which contribute to firms to adjust marketing strategy. As a matter of fact, most marketers concern about customer loyalty in the maturity stage in that many competitive brands have piled into the market, which may lead customers to switch other brands. Liljenwall(2004) points out that it is difficult to be loyal for most products that customers purchase, even though many of them have brand preference for commodities. Indeed, they attempt to seek the best one by constantly changing brands. However, it seems that loyalty card reduces the risks of brand switching by offering discounts for regular purchases. When facing to different brands with same quality, customers usually would like to purchase fixed brand in return for discount. That is to say, loyalty card promotion can effectively maintain customer loyalty in the maturity stage. In conclusion, the three sales promotion tactics are effectively used to help companies to achieve the marketing targets in different phases: premiums promotion expands new products awareness in the introduction stage since this way could induce consumers to try out new items; limited-time promotion probably helps companies increase market share in the growth stage through boosting the volume of sales as soon as possible; loyalty card seems to be effective to maintain customer loyalty in the maturity stage because marketers would like to provide discount or gifts in return for regular purchase. Nonetheless, some potential risks may occur in the implementation. In order to maximize the effects of sales promotion on different phases of product life cycle, limitations and possible solutions of the three means of sales promotion will be discussed in the next main section. 3. Limitations and Possible Solutions 3. 1 Risks of premiums promotion There seems to be two limitations in premiums promotion. First, it is difficult for marketers to ensure that premiums or free samples are attractive enough to their target customers (Ace 2002). In the introduction stage, new products usually need to be widely aware, so if premiums cannot arouse customers’ interest, marketers may lose chances to convince customers to try out their new products. Second, the cost of premiums and the value that customers perceive should be balanced. As Yeshin (2006) illustrates, the low-cost premiums may be perceived as low quality, thus reducing the brand value of new products themselves, whereas free gifts with high quality often cost much. Hence, it is felt to be difficult for marketers to forecast the perceived value of premiums and to ensure that premiums can enhance new products reputation. 3. 2 Risks of limited-time discount Two possible limitations should be taken into account when limited-time discount is implemented. First, overusing limited-time discount probably shakes consumers’ decision for instant purchase in that they get used to waiting for discounts (Hendershot-Hurd 2007). As most customers are waiting for discount, it seems possible that the growth rate of sales becomes low in the growth stage. Second, if the time interval between the end of a limited-time discount and the start of the next limited-time discount is short, the perceived value of products may be reduced (Devlin, Ennew, McKechnie, and Smith 2007). In other words, Customers may regard the promotional price as the actual value. As a result, once restoring the original price, products may become unacceptable. 3. 3 Risks of loyalty card promotion The security of personal data caused by loyalty cards may lead to customer dissatisfaction (Janotta 2012). For example, customers probably regard loyalty cards as source of spamming, thereby refusing to use loyalty card; they may also feel that individual privacy is offended, which could directly decrease customer satisfaction and destroy customer loyalty; if rewards cannot satisfy customers, they are likely to lose interest in loyalty card. As Janotta (2012) concludes, loyalty card system often disappoints consumers because of unattractive rewards, harsh requirements for exchange, and time and place limit. 3. 4 Possible solutions With regard to the limitations above, the possible solutions are proposed by Yeshin (2006) and Kotler and Armstrong (2001) as follow: * A small quantity of premiums should be first used at the beginning of introduction stage for market test, and a mass of premiums or free samples should be then used to expand new products popularity. * Time limited discount should be reasonably used and the promotion cycle should be identified by market investigation * Integrated promotion replacing single promotion should be used to stimulate customers in the first three stages of product life cycle. These possible solutions enable companies to reduce the risks in the implementation, thereby avoiding the unnecessary losses. All in all, the risks of sales promotions should be considered by marketers. First, low attractiveness and low perceived value of premiums could reduce the interest of customers in new products. Second, overuse and short cycle of limited-time promotion tend to compel companies to cut prices in that customers may overly relay on discount and reject to purchase at the original price. Third, the invasion of privacy caused by loyalty cards can result in decreasing customer satisfaction since customers could feel to be offended. Furthermore, in terms of possible solutions, early market test on a small scale enables companies to adjust promotion strategies, appropriate promotion cycle probably stimulate customers to make instant purchase decision, and integrated promotion mode could make better use of the advantages of sales promotion and compensate for the disadvantages of each other. Conclusion Sales promotion tactics seems to be of considerable importance in achieving different marketing targets. This paper analyzed the effectiveness of three sales promotion tactics according to the three marketing targets mentioned above. First, premiums could encourage customers to try out new products, which are beneficial to expand new products popularity in the introduction stage. Second, limited-time promotion is used to increase sales as sons as possible, eventually occupying more market share in the growth stage. Third, loyalty card has great advantage in keeping long-term relationship with existing customers, which could reduce the risk of brand switching in the maturity stage by rewarding regular purchase. Nevertheless, it seems to be inevitable that the three sales promotion strategies have limitations. First of all, the quality and attractiveness of free gifts may directly influence the perceived values of new products. Furthermore, limited-time discount may stop products from restoring the original prices since customers prefer to wait for discounting. Finally, even if companies may obtain useful information about customers through analyses of loyalty card data, customer satisfaction is probably reduced due to the invasion of individual privacy. The possible solutions can be summarized as market test on a small scale, appropriate promotion cycle, and integrated promotion mode, which could reduce the risks above and maximize the effects of sales promotion. In discussing process in premiums promotion, limited-time discount and loyalty card promotion, it was conclude that the three tactics of promotion can be effective to help companies achieve the marketing targets in the first three phases, based on a rich literature about sales promotion. However, it should be noted that a detailed analysis of other tactics of sales promotion realizing different marketing targets is not involved in this paper and future work could be done in this area. This would mainly focus on online marketing and could help marketers enhance the competitiveness of online marketing by appropriate strategies of sales promotion. References Ace, C. (2002) Effective Promotional Planning for e-Business. Oxford: Butterworth-Heinemann Devlin, J. , Ennew, C. ,McKechnie, S. , and Smith, A. (2007) ‘A study of time limited price promotions’. Journal of Product amp; Brand Management 16 (4), 280 – 285 Gaffney, S. and Francis, C. (2009) Honesty Sells: How to Make More Money and Increase Business Profits. Hoboken: John Wiley amp; Sons Humby, C. , Hunt, T. , and Phillips, T. (2007) Scoring Points: How Tesco Continues to Win Customer Loyalty. London: Kogan Page Hendershot-Hurd, K. (2007) Beyond the Niche: Essential Tools You Need to Create Marketing Messages that  Deliver Results. Swindon: Acuminate Janotta, S. (2012) Loyalty Cards in the Apparel Retail Industry. Munich: Grin Verlag Kolb, B. M. (2005) Marketing for Cultural Organizations. London: Thomson Learning Kotler, P. and Armstrong, G. (2001) Principles of Marketing. Upper Saddle River: Prentice Hall Lancaster, G. and Massingham, L. (2011) Essen tials of MarketingManagement. Abingdon: Routledge Liljenwall, R. (2004) The Power of Point-of-Purchase Advertising: Marketing At Retail. Washington, DC: Point-Of-Purchase Advertising International   Pride, W. M. and Ferrell, O. C. (2010) Marketing. Stamford: Cengage Learning Reid, R. , D. and Bojanic, D. , C. (2010) Hospitality Marketing Management. Hoboken: John Wiley amp; Sons Yeshin, T. (2006) Sales Promotion. London: Thomson Learning How to cite An Evaluation of the Effectiveness of Premiums Promotion, Limited, Papers

Pbx Hybrid Networks Essays - Telephone Exchanges, Avaya, Voicemail

Pbx Hybrid Networks PBX and Key/Hybrid Systems PBX and Key systems are the wave of communication for business everywhere. The key difference between PBX and Key/Hybrid systems are the amount of stations each can handle. Key systems are designed for clients with very small line size requirements and very basic needs. It usually handles between 16 to 48 stations. PBX systems on the other hand handle a lot more stations as well as more features and sophistication. PBX are designed for larger corporations and cost much more than a simple key system communication need. Another key advantage of PBX system is it allows for room for corporation growth over the years than that of a Key System or Hybrid system. An example of a PBX system and some of its features is the Fujitsu BCS Series 3:1 Model Series 3 Product Type Digital PBX FCC Registration Numbers (Key) BJ885Z-60084-KF-E; (Hybrid) BJ8USA-60083-MF-E (PBX) BJ8USA-75355-PF-E Date Announced July 1993 Number of Systems Installed Approximately 2,375 + Line Capacity 480 Port Capacity 588 Trunk Capacity 4 to 240 (dependent on # of lines configured) Simultaneous Calls Possible 294 Traffic Capacity (BHCAs) 10,000 Switching Matrix TDM Main System CPU Fujitsu proprietary 8-bit or 16-bit CPU H5H5 Component Redundancy Not available Amt. of Main System Memory 1.5MB ISDN Support PRI only (BRI not available) T-Carrier Support Direct T1 interface Wireless Support SpectraLink WTS Voice Messaging Support Fujitsu TranSend/TranSend Lite unified messaging platform; Fujitsu's IVS voice messaging platform; or various third-party voice mail solutions. H6H6 ACD Support Fujitsu Series 3 ACD; ACD Report Manager H7H7 Call Accounting Support Integrates with Fujitsu's Call Manager H8H8 PC Attendant Console Optional The features of the Fujitsu BCS Series 3 is what most would look at a well functioning PBX. The price rang of the phones of each line are between 300 and 500 dollars per line with a basic package of 6500 for the TransSend unified messaging platform. An example of a functioning Key/Hybrid System is the Lucent Merlin Legend. A couple features of this key system are:2 Digital key/hybrid/PBX/behind-Centrex system H2H2 Date Announced August 1991 Date Installed October 1991 FCC Registration Numbers Key--AS593M-72914-KF-E; multifunction hybrid--AS593M-72682-MF-E H3H3 Target Market Small- to medium-sized businesses General Specifications Digital Station Capacity 200 Line Capacity 80 Simultaneous Calls Possible 108 Switching Matrix Time division Type of Processor Centralized 68000 microprocessor Type/Amount of Main Memory (bytes) 896K RAM Port Capacity 280 As you can tell the system is can not handle as much as the PBX system but for small business the Merlin Legend is a perfect fit. The price of the key/hybrid system the basic Merlin Legend Release 7.0 module retails for US$1,494. As you can tell that is a steep difference in price between the two. In conclusion when comparing the key system and PBX you compromise the features and price. With the PBX of the Fujitsu you spend so much more money but you get a lot of different features as well as the ablility to grow and become a bigger corporation with larger features. The Key system just leaves you with the bare requirements for your small business

Animal Rights Vs Human Rights essays

Animal Rights Vs Human Rights essays The use of laboratory animals is important to three main areas: biomedical research, product safety testing, and education. Biomedical researchers use animals to extend their understanding of the workings of the body and the processes of disease and health, and to develop new vaccines and treatments for various diseases. The research these people do isn ¡t only for human benefit; it is also helping to develop veterinary techniques. The industry uses animals to test the effectiveness and safety of many consumer products, such as cosmetics, household cleaning products, pesticides, chemicals, and drugs. Educators, from elementary school all the way up to college, use animals as parts of the teaching process, including dissecting worms, and frogs in science classes to medical students using animals to learn surgical techniques. Scientists study animals to learn more about certain species: its history, its psychological and social behaviors, and its skills. If the animals are kept in captivity, they can be caused pain that isn ¡t natural part of its environment. A number of organizations wish to replace and reduce the number of animals being used or, at the very least, lessen the pain. Rats and mice make up 85-90% of animals used in research, education, and testing. Rabbits, guinea pigs, hamsters, dogs, cats, and non-human primates are studied as well. Dogs and Cats make up about 1% of research animals. The certain animal depends on what is being studied. The majority of rats and mice are bred specifically for research. Half of the dogs and cats that are used are bred for that purpose too. Animal dealers are the primary source for the rest. Animal dealers must be licensed by the USDA, or the United States Department of Agriculture and have to obey the standards of care set up by the Animal Welfare Act. h Alternatives to Animal Testing Alternative methods fall into three main categories, also known as the three R ¡s: Rep...

The Definition of Psychological Realism

The Definition of Psychological Realism Psychological realism is a style of writing that came to prominence in the late 19th and early 20th centuries.  It’s a highly character-driven genre of fiction writing, as it focuses on the motivations and internal thoughts of characters to explain their actions. A writer of psychological realism seeks to show not only what the characters do but also to explain why they take such actions. Theres often a larger theme in psychological realism novels, with the author expressing an opinion on a societal or political issue through his or her characters. However, psychological realism should not be confused with psychoanalytic writing or surrealism, two other modes of artistic expression that flourished in the 20th century and focused on psychology in unique ways. Dostoevsky and Psychological Realism An excellent example of this genre (although the author himself didn’t necessarily agree with the classification) is Fyodor Dostoevsky’s Crime and Punishment. This 1867 novel (first published as a series of stories in a magazine in 1866) centers on Russian student Radion Raskolnikov and his plan to murder an unethical pawnbroker. Raskolnikov needs the money, but the novel spends a great deal of time focusing on his self-recrimination and his attempts to rationalize his crime.   Throughout the novel, we meet other characters who are engaged in distasteful and illegal acts motivated by their desperate financial situations: Raskolnikovs sister plans to marry a man who can secure her familys future, his friend Sonya prostitutes herself because she is penniless. In understanding the characters motivations, the reader gains a better understanding of the conditions of poverty, which was Dostoevskys  overarching goal.   American Psychological Realism: Henry James American novelist Henry James also used psychological realism to great effect in his novels. James explored family relationships, romantic desires and small-scale power struggle through this lens, often in painstaking detail.   Unlike Charles Dickens realist novels (which tend to level direct criticisms at social injustices) or Gustave Flauberts realist compositions (which are made up of lavish, finely-ordered descriptions of varied people, places, and objects), James works of psychological realism focused largely on the inner lives of prosperous characters. His most famous novels- including The Portrait of a Lady, The Turn of the Screw, and The Ambassadors- portray characters who lack self-awareness but often have unfulfilled yearnings. Other Examples of Psychological Realism James emphasis on psychology in his novels influenced some of the most important writers of the modernist era, including Edith Wharton and T.S. Eliot. Whartons The Age of Innocence, which won the Pulitzer Prize for fiction in 1921, offered an insiders view of upper-middle-class society. The novels title is ironic since the main characters of Newland, Ellen, and May, operate in circles that are anything but innocent. Their society has strict rules about what is and isnt proper, despite what its inhabitants want.   As in Crime and Punishment, the inner struggles of Whartons characters are explored to explain their actions, while at the same time the novel paints an unflattering picture of their world.   Eliots best-known work, the poem The Love Song of J. Alfred Prufrock, also falls into the category of psychological realism, although it also could be classified as surrealism or romanticism as well. Its definitely an example of stream of consciousness writing, as the narrator describes his frustration with missed opportunities and lost love.

Inflation Essay Example | Topics and Well Written Essays - 1250 words

Inflation - Essay Example The concept if inflation is indeed an important component considering how it influences many aspects of life. The paper seeks to delve into the causes of inflation in order to illuminate the factors which lead to the persistent increase in the prices. In the same way, it will provide an analysis into some of the effects of inflation while focusing on the different types of inflation arising from different economic situations. Introduction Inflation is described to be a rate in which the overall price of goods and services is increasing while the purchasing power decreases in an economy (Nicholson 57). Inflation usually causes money to lose its value. This comes about in that as inflation increases, currency only buys a small percentage of goods compared to what it used to when there was no inflation. This happens due to the increase in the money supply which is measured by the producer price index and the consumer price index over time. When inflation rises in an economy in higher ra tes, it leads to adverse effects in the economy. However, mild inflation in the economy can lead to positive effects such as creation of employment. To keep the rates of inflation low, monetary authorities usually central banks are given the responsibility of controlling prices. This paper will discuss various causes of inflation, types and the effects that it has in the economy. Causes of inflation One of the causes of inflation is cost-pushing. This is a case where companies incur a lot of costs in running their operations. Hall states that these higher costs are usually brought about by workers or trade unions pushing for their wage increase (163). When they receive the increase, the impact is felt by the consumer in that it transfers the cost to the consumer by increasing the costs of goods and services. This tendency is characterized by an increase in wages irrespective of the productivity. Productivity normally remains the same which leads to the increase in the prices of good s and services in order to counter the effect. When a lot of firms increase wages in the same manner and pass the effect to the consumer in terms of high prices, this the leads to inflation. Another cause of inflation is demand-pull. This is a case where the overall demand exceeds supply and is normally brought about when an economy experiences full employment. The demand can be in terms of goods and services or it can as well be the demand for labor. When the demand exceeds supply in the market, the suppliers have a tendency of increasing the prices of commodities. This is because of the surety that their goods will sell at whichever cost due to scarcity. If the supply of the goods remains low over a period of time, this leads to inflation because the prices will keep on getting higher and higher. This can also portray itself where employers demand more workers than what they can get. In turn, they increase their salary in order to attract more labor which leads to inflation in the long run. Exchange rate is another cause of inflation. This comes about when a nation has increased exposure to the foreign market. It is one of the critical factors that determine the rate of inflation. If the rate of exchange suffers, the local currency loses value to the foreign currency. This leads to the foreign goods becoming expensive to the local consumers which simultaneously lead to the local goods becoming cheap to the consumers in the overseas markets. In simple terms, the import price gets higher than the export price which leads to inflation. National debt is another cause of inflation. If a country has a higher debt, then this can accelerate the levels of inflation to higher rates. This leads to inflation because, if the debt increases, the government of the country is left with two options; to either print more money to pay off the debts or to increase the taxes which will lead to higher revenue hence provide means of settling the debt. Increase in tax is passed dow n to businesses that in turn increase

How the Album Got Played Out Essay Example | Topics and Well Written Essays - 500 words

How the Album Got Played Out - Essay Example Right from the year where â€Å"rock music†seemed to have had its beats every where in the radio FM station and other shows and in terms of the top sales and bulk of listener response he has covered almost 85% of the music history tracing back to previous years. He seems to make a comparison with the present album tradition with that of the previous rock music in every point he includes for discussion. He starts with the information carrying the nominees for the 40th Grammy awards such as Radioheads’ â€Å"Ok Computer† [1] and Bob Dylan’s â€Å"Time out of Mind†[2]. He regrets that these albums needed to be listened just because it had a â€Å"thematic unity to the lyrics† [3] . He seemed to have a strong support for these two albums. One reason makes me disagree with this point. Gerald Marzorati actually goes in terms of full appreciation for these two albums but he himself seems to act in such a way that he enhances the quality of this album by talking more on it than other albums which he refers in a very little fashion. He says â€Å"If you’re someone who grew upwith Dylan in the 60’s , as I did , you would have probably bought the album [It actually managed to sneak into the Billboard Top 10 for week last fall]†[4] He goes on analyzing the concept of digital revolution with that of records of the previous ages. I would agree with his statement that â€Å"Listening to album is ultimately a matter of giving yourself over to somebody’s choices –this song, then this one. The digital revolution promises precisely the opposite . What do you want, want right now?†[5]. It is true that the digital; revolution has increased the interest among the young ones who could also play and jump over to their favorite song as quickly as possible, there options that are prevalent are operating with the help of a remote which was absent in the old CD system or FM station [ which had been concentrating in enhancing only rock music not upto the

Capitalist society

Capitalist society What are the defining characteristics of a capitalist society? Which characteristics have held constant, and which been transformed, in the period since the 1970s? In this essay I am going to examine the six main characteristics of capitalism, as outlined by Adam Smith in his book An Inquiry into the Nature and Causes of the Wealth of Nations (1776). To aid me in this I shall include references from a broad range of Sociologists in order to elaborate on Smiths points and provide elucidated examples. I then plan to discuss how these characteristics have been transformed since the end of the rapid economic growth post World War Two in the 1970s and the catalysts for these transformations. Prior to this I am going to give an overview of the definition and inception of capitalism. Edmund Burke (1795) defines a capitalist society as one in which even labour is seen as a commodity; the means of production are privately owned by the bourgeoisie whom pay the proletariat a wage in exchange for their labour. Good are produced in accordance with what will make the greatest profit for the bourgeoisie rather than to comply with the needs of the consumer base. The history of capitalism can be traced back as early as the 8th century, in his book Capitalism in Medieval Islam, The Journal of Economic History Sabhi Labib refers to this as, ‘Islamic Capitalism; the stability and relatively high value of the dinar currency led to the establishment of one of the first economies were money was traded in exchange for goods or services. However capitalism didnt become dominant in the ‘West until the 18th century, the catalyst for this was the French revolution of 1789. During this time social stress built due partially to an excessive population, which led to food shortages and disease epidemics. Despite the recent growth of capitalism due to increases in overseas trade and thus the continued growth of the economy the majority of French citizens (especially in rural areas) continued to live at or below the poverty level. Furthermore the stratification system of dividing the population into a hierarchy of social orders at birth caused social unrest. People wanted social change but were unwilling to act, until the fall of Bastille. The storming of the French prison by a group of middle class demonstrators protesting the dismissal of Jacques Necker effectively acted as a catalyst for the revolution; people began to realise that drastic action could bring about social change. Violence dominated the French Revolution; King Louis XVI was dethroned and beheaded and in 1793/1794 thousands more also met this fate, executed because they were thought to be anti-revolution. The French Revolutionary government, who had seized power during the political instability that followed the abolishment of the monarchy, entered war with most of the major powers in Europe, a war that outlasted the revolution. Throughout the bloodshed a number of important changes took place, the most radical of these being the abolition of feudalism and the establishment of a new order. A massive shifting of power from the Roman Catholic Church to the state took place; property was taken from the Church and members of the clergy were forced to sign an oath swearing loyalty to the state. The French revolution was swiftly followed by the Industrial Revolution in Britain, which in turn led to the spread of revolution across Europe. The Industrial Revolution brought an end to feudal society in Britain and a capitalist economic system began to develop through the growth of free labour which liberated industries such as the textile industry. E.A Wrigley wrote that industrialisation was the product of a steady increase in per capita income (1972). Though it should be noted that the economic changes were not the only factors to contribute to the rise in capitalism, the process also involves a wider set of social changes (Kumar 1978) for example Max Weber believed the Protestant ethic was a driving force in the development of capitalism. Now I have given an overview in to the development of capitalist societies I am going to discuss the characteristics associated with them. As previously stated Adam Smith outlined six characteristics of the capitalist society, the foundation of these characteristics was the notion of freedom; Smith believed that capitalism was characterised by individuals having both freedom of enterprise, that is the freedom and right to own property and/or a business and the freedom to dictate their own labour and consumer habits (freedom of economic choice). This freedom is however restricted by human need for sustenance and the means of production, ‘He is not forced to live according to the plan of a planning authority enforcing its unique plan by the police, i.e., the social apparatus of compulsion and coercion. What restricts the individuals freedom is not other peoples violence or threat of violence, but the physiological structure of his body and the inescapable nature-given scarcity of the factors of production. (Mises, L. The Anti-capitalistic Mentality, 1956 CH.1) A further characteristic put forward by Smith was the division of labour; for humans to carry out this production of materials they have to form what are known as, ‘relations of production, and divisions of labour must be made which are determined by the means of production at the time and whom owns them. According to Geoff Pilling (1980) for these relations of production take on the form of classes, as they have done present day, the productive forces must reach a certain level of growth (he further noted that if productive forces continued to increase to a higher level society may return to being class-less). . To illustrate Adam Smiths theory that within in a capitalist society there are high levels of self interest it is useful to look at the work of Marx. Marx used the model of a modern capitalist society as an example of how we can look at how the unequal distribution of the means of production leads to class development and thus class conflict. The bourgeoisie (ruling class) own the means of production, which means that for the proletariat (working class) to gain the materials they need to sustain life they must exchange their labour for a wage. According to Marx, capitalism is driven by an innate greed, especially within the ruling class; capitalists try to find ways to increase workers efficiency and force them to work longer hours. Caporaso and Levine (1992) noted, . ‘As a result profit increases, real wage (subsistence) remains the same the worker works harder, and longer whilst his share of the product declines. . This sets the interests of the two classes in opposition each acting in accordance with their own desires, as the working class are trying to limit the amount of exploitation they suffer. In order to control excesses of both individual and collective self interest capitalist societies require a competitive market, ‘As it is the power of exchanging that gives occasion to the division of labour, so the extent of this division must always be limited by the extent of that power, or, in other words, by the extent of the market. (Smith, A The Wealth of Nations, Book I, Chapter III, 1845) To ensure this competitive market there must be a large population of buyers and sellers, this is to ensure that no one person or group of peoples can dictate the price of a good or service by manipulating the supply or demand. One recent example of a company attempting to manipulate the supply/demand chain is that of Apple. The corporation is one of the main buyers of NAND flash memory chips, they are accused of indicating to their suppliers that they require larger volumes of stock than they actually intend to purchase. In order to meet this demand the suppliers increase production and as a result are left with a surplus amount of stock which they are forced to sell at a reduced rate. Moreover a competitive market must allow everyone free entrance and exit from the marketplace and must not restrict knowledge; both buyers and sellers must be aware of the markets that exist and the range of prices. The final characteristic of a capitalist society given by Adam Smith is that of limited government or laissez-faire, however it is a theory that only works if the aforementioned five characteristics are fulfilling their role. Smith believed that the government should not intervene in the marketplace as that would ruin its chances of operating efficiently and to its full potential. He saw it as the governments role to police the marketplace by creating and enforcing laws to ensure fair practice as well as helping to settle disputes. Now I have provided insight in to the characteristics of a capitalist society I am going to discuss how economic events, including two global recessions, over the past forty years have affected the characteristics and policies of the capitalist system. World War Two was the catalyst for the beginning of mass production of goods, this was known as Fordism. The process was named after Henry Ford, whom helped develop the first car that was economically viable for the working class through the use of assembly lines. Not only did this method of mass production lower the price of the end product, it also enabled Ford to hire unskilled workers which helped reduce unemployment at the time. Wages in his factory were high, at five dollars a day which enabled his employees to become consumers through this Ford managed to boost the economy. The practice of Fordism helped overcome the economic depression that occurred during the 1930s as it decreased the numbers of unemployed and increased the efficiency of workers meaning that profits rose. However the Fordist work structure was abandoned in the 1970s when economic crisis put an end to the post-war boom. The causes of this economic downturn were the oil crisis of 1973, the 1973-74 stock marke t crash, a period of slow economic growth (stagnation) and inflation. Gamble and Walton (1976) used statistics to show that it was no longer realistic for ‘Western societies to practice Fordism; they found that by 1975 3.5% of the UK was unemployed (which went against the Fordist ideal of full employment) and that inflation had increased by 27%. The aforementioned factors combined led to a massive decrease in consumerism. This economic crisis caused dramatic changes within the capitalist system and the development of a new system of economic production post-1970 that is often called Post-Fordism. It should however be noted that although the economic downturn was the main driving force for the introduction of Post-Fordism, globalisation and advances in technology also aided the transformation. Flexible production defines Post-Fordism; producers began to look more closely at the individual needs of their consumer base and produce small amounts of specialised goods rather than mass producing standardised products. One example of this is that of ‘Third Italy, this was the name given to regions of Italy such as Tuscany and Veneto that were encouraged by the Italian government to produce small quantities of high quality products. The goods were produced in small workshops with a workforce of fewer than fifty people and workshops from different regions often pooled their resources in order to purchase machinery. Despite the fact that these unique products were highly desirable to consumers and thus enabled these small companies to charge more advances in technology during the 1990s led to many corporations once again succumbing to mass production. Writing of Benetton, whom started as a small family business in Veneto (Third Italy) before becoming a large corporation, Castells stated, ‘New technologies allow for the transformation of assembly lines characteristic of the large corporation into easy-to-program production units that can be sensitive to variations in the market (product flexibility) and in the changes of technological inputs (process flexibility). (2000: 167) This product and process flexibility has enabled Benetton to maintain their individuality and the exclusive feel of their products regardless of their current status as a global fashion brand with over 6,000 retail outlets. Another such change is the deregulation of markets. Reich (2007) wrote that post Second World War capitalist society was dominated by ogliopolies whom controlled the industry; they were aided by government regulation that allowed them to keep out competition. Changes in the seventies however reduced the power of these large conglomerates as the government simplified laws regarding the market place, this led to a massive increase in competition as it became easier to start up businesses. Competition was further increased by the globalisation of the capitalist economy as corporations began increasing their consumer base by seeking larger international markets. The deregulation of markets is a product of the theory of Neoliberalism, which aims to increase the efficiency of governments and improve economies by transferring some economic control from the public sector to the private sector (Cohen 2007). This policy complies with Smiths theory of laissez-faire as it reduces government intervention. Margret Thatcher, whom served as prime minister of the UK for eleven years was an advocate of this policy; between 1979 and 1990 she oversaw the privatisation most of the United Kingdoms utilities including British Telecom, British Railways and bus services throughout London. And although the current government has yet to privatise any public services there does not appear to be any intention of reversing the work done by Thatcher in reforming the economy. There is no doubt that the capitalist system has undergone many transformations over the last few decades; the changes to economic policy caused by the current global recession serve to reinforce this. However the foundation of capitalism and the core values of the system remain intact; the essence of capitalism is still profit. The proletariat are still exploited by the bourgeoisie and the rich-poor divide increases each passing year (particularly in less economically developed countries for example in 2007 the amount of billionaires in India almost doubled). Adam Smiths vision of a competitive market that could not be dictated by any one corporation now seems too idealistic; the ‘free market is controlled by those who own large conglomerates, their wealth ensuring that nothing stands in their way. References Books Burke, E. Thoughts and Details on Scarcity, Edition 3, 1800, Oxford University: F. and C. Rivington and J. Hatchard. Caporaso, J. A and Levine, D.P Theories of Political Economy; 1992, Cambridge University Press Castells, M. The Rise of the Network Society, The Information Age: Economy, Society and Culture Vol. I; 2000, Cambridge, MA; Oxford, UK: Blackwell Cohen, Joseph Nathan The Impact of Neoliberalism, Political Institutions and Financial Autonomy on Economic Development, 1980-2003; 2007, Dissertation, Department of Sociology, Princeton University. Defended June 2007 Gamble, A and Walton, P. Capitalism in Crisis; 1976, Macmillan Kumar, K. Prophecy and Progress The Sociology of Industrial and Post-Industrial Society; 1978, Viking Labib, S. Capitalism in Medieval Islam, The Journal of Economic History; 1969 pp. 79-96 Mises, L. The Anti-capitalistic Mentality; 1956, Indianapolis: Liberty Fund, 2006. Pilling, G. Marxs Capital, Philosophy and Political Economy; 1980, Routledge Keagan Paul Reich, R B. Supercapitalism. The Transformation of Business, Democracy, and Everyday Life; 2007 Knopf; illustrated edition Smith, A. An Inquiry into the Nature and Causes of the Wealth of Nations, 1845, Nelson Wrigley, E.A The Process of Modernization and the Industrial Revolution in England, Journal of Interdisciplinary History, Vol. 3, No. 2, Economics, Society, and History 1972, pp. 225-259 1972, Massachusetts Institute of Technology and the editors of The Journal of Interdisciplinary History. Websites http://www.marxists.org/archive/pilling/works/capital/index.htm http://oll.libertyfund.org/?option=com_staticxtstaticfile=show.php%3Ftitle=1889chapter=109993layout=htmlItemid=27 http://arstechnica.com/apple/news/2009/11/apple-using-dodgy-tactics-to-get-better-nand-flash-prices.ars