Extended Marketing Mix

The extended marketing mix (7Ps) The marketing mix is the combination of marketing activities that an organisation engages in so as to best meet the needs of its targeted market. Traditionally the marketing mix consisted of just 4 Ps. For example, a motor vehicle manufacturer like Audi: * Produces products that are of the highest quality and fit for the needs of different groups of consumers, * Offers a range of cars at value for money prices, depending on the market segmented they are targeted at, Sells the cars through appropriate outlets such as dealerships and showrooms in prime locations, i. e. in the right places, and * Supports the marketing of the products through appropriate promotional and advertising activity. The marketing mix thus consists of four main elements: 1. Product 2. Price 3. Place 4. Promotion. Getting the mix of these elements right enables the organisation to meet its marketing objectives and to satisfy the requirements of customers. In addition to the tradit ional four Ps it is now customary to add some more Ps to the mix to give us Seven Ps. The additional Ps have been added because today marketing is far more customer oriented than ever before, and because the service sector of the economy has come to dominate economic activity in this country. These 3 extra Ps are particularly relevant to this new extended service mix. The three extra Ps are: 1. Physical layout – in the days when manufacturing dominated the UK economy the physical layout of production units such as factories was not very important to the end consumer because they never went inside the factory. However, today consumers typically come into contact with products in retail units – and they expect a high level of presentation in modern shops – e. g. record stores, clothes shops etc. Not only do they need to easily find their way around the store, but they also often expect a good standard or presentation. The importance of quality physical layout is important in a range of service providers, including: * Students going to college or university have far higher expectations about the quality of their accommodation and learning environment than in the past. As a result colleges and universities pay far more attention to creating attractive learning environments, student accommodation, shops, bars and other facilities. * Air passengers expect attractive and stimulating environments, such as interesting departure lounges, with activities for young children etc. * Hair dressing salons are expected to provide pleasant waiting areas, with attractive reading materials, access to coffee for customers, etc. * Physical layout is not only relevant to stores, which we visit, but also to the layout and structure of virtual stores, and websites. . Provision of customer service – customer service lies at the heart of modern service industries. Customers are likely to be loyal to organisations that serve them well – from the way in which a telephone query is handled, to direct face-to-face interactions. Although the ‘have a nice day' approach is a bit corny, it is certainly better than a couldn't care less approach to customer rela tions. Call centre staff and customer interfacing personnel are the front line troops of any organisation and therefore need to be thoroughly familiar with good customer relation's practice. . Processes – associated with customer service are a number of processes involved in making marketing effective in an organisation e. g. processes for handling customer complaints, processes for identifying customer needs and requirements, processes for handling order etc The 7 Ps – price, product, place, promotion, physical presence, provision of service, and processes comprise the modern marketing mix that is particularly relevant in service industry, but is also relevant to any form of business where meeting the needs of customers is given priority.

Gourmet Products Inc. Essay

Gourmet Products Inc. (GPI) is a Canadian publicly traded retailer of aged balsamic vinegars, culinary sauces, spices, herbs, and seasonings. Products are sold globally through several Internet sites created and operated by GPI. On August 15, 20X0, GPI completed the acquisition of all the common shares of Abruzzi Oils Inc. (Abruzzi), an Italian producer and retailer of specialty olive oils, for cash consideration of C$6,000,000. The acquisition cost was allocated to the fair value of the identifiable assets and liabilities. The acquisition cost included a bottling machine with a book value of $400,000 and a fair market value of $750,000. However, to avoid any unnecessary reporting complications, the entire purchase discrepancy related to this machine was allocated to goodwill. GPI intends to keep the Abruzzi name and brand intact. Operations in Italy will be maintained, but GPI will import some of the olive oil production to Canada. The Abruzzi line of speciality olive oils will be featured on all of GPI’s Web sites. In preparation for ongoing operations, GPI has temporarily transferred two managers and five employees to Italy to work at the Abruzzi home office for a period of two years to ensure the transition runs smoothly and that the scale of operations can be increased to meet the forecasted sales growth. GPI is recording wages paid as consulting fees and is no longer taking source deductions. One manager has recognized that the move would cause undue stress on his family if they remained in Canada so he has decided to take his wife and children with him for the two-year period. GPI has just negotiated the purchase of a labelling machine in Italy for EUR 200,000. The equipment is expected to be useful for a period of 12 years. GPI has borrowed EUR 200,000 from the Banca Cammerata in Italy to finance  the equipment purchase. The loan, dated July 1, 20X0, is at 7% and is repayable in euros in 15 equal annual instalments, commencing August 1, 20X0. The interest is payable monthly in euros by GPI. The ownership of the labelling machine was transferred to Abruzzi on September 1, 20X0, in exchange for a EUR 200,000 note. The terms of the note are similar to the terms GPI negotiated with the Banca Cammerata, except that GPI is not charging Abruzzi any interest. The CFO of GPI stated this type of structure would minimize the foreign currency risk that GPI is exposed to. On the basis of an extensive review of the relationship between GPI and Abruzzi, Abruzzi has been classified as a foreign operation in accordance with IAS 21. In accordance with IFRS, Abruzzi revalued its land and building asset grouping to fair market value, resulting in an increase to the land and building account of EUR 20,000. Abruzzi’s accountant recorded the offsetting credit as a gain in profit and loss. A revaluation loss of EUR 5,000 had been recognized for land and buildings in the previous year. The corporate tax rate in Italy is considerably less than Canada’s combined provincial and federal rates. Both GPI and Abruzzi have a September 30 fiscal year end. GPI’s usual wholesale markup on its product imported is 60%; however, GPI has been acquiring goods from Abruzzi at 150% above Abruzzi’s cost. The decision to use 150% above Abruzzi’s cost was made by the CFO. As a result, GPI has had a very low profit margin on its retail sales of Abruzzi olive oils. You are Asif Majarani, a senior audit manager working in the assurance department of Majarani Associates, CGAs, a CGA firm in Winnipeg. Majarani Associates has three other specialized departments — advisory, taxation, and transaction services — with three other partners, one managing each  department. Your firm has been engaged to prepare the consolidated financial statements for the fiscal year ending September 30, 20X0, for GPI. This is the third year the firm has been engaged by GPI. You recently met with Ed Moore, CEO of GPI, on October 15 to obtain additional information. Moore mentioned that he had some concerns about the upcoming project of converting the existing payroll system to a new technology platform. A new payroll software system has been purchased since the payroll system currently in use is designed for a small company. GPI’s growth has strained the payroll system’s ability to provide timely payroll processing. Delays in payment of payroll have caused frustration for employees, although this does occur on an infrequent basis. The IT director is strongly suggesting that a direct cutover conversion approach be taken so that the new system can be used as soon as possible to realize the benefits. It is also the least expensive approach. Moore is concerned that this is a risky approach and he believes that a parallel conversion would be a better option. He is particularly concerned since he has heard that other companies have found errors during the implementation of this specific software system, although these errors are easily resolved once identified. Furthermore, since this is the first time GPI has been required to prepare consolidated financial statements for its shareholders, Moore is concerned about how the users will be able to differentiate between the financial positions and results of operations for the two separate entities. Required a) In your discussion group, analyze the case as a whole and identify all the issues to be included in the report to the CEO.  Note: Candidates must participate in the online discussion. Failure to post in the online discussion and respond to the posts of others will result in failing the discussion-based communication competencies. b) Prepare a report to the CEO (900 to 1,100 words), listing the adjustments that should be considered in preparing the consolidated statements. You should also address any other issues raised in the case. Complete this report independently of your group and submit it as a hand-in assignment.

Gun control Essay Example | Topics and Well Written Essays - 1000 words

Gun control - Essay Example It is easy to deem this as a trigger happy syndrome but the fact remains to be very volatile and fearful. The statistics that have been formulated in regard to continuations of violence and the sources of the violent behavior have become staggering. In November 1998 a Japanese student new in California was shot dead when he tried to find a specific address from a middle aged resident at the middle of the night due to miscommunication and language problem. (King, 317) Such examples are abundant and this is the reason it is necessary to look into the matter of gun control policy. Furthermore, experts amidst researchers and policymakers should managed considerable thought toward understanding how short and long term influences of abuse, including drugs, alcohol, and other substance abuse along with mental health stress. The understanding of immediate affects abuse would have, how it relates to voluntary behaviors. The main objective of the research would to develop a form of argumentative system that would be instrumental in helping out the policymakers and enable them to lead a normal logical conclusion on the subject of gun control policy and life within the main stream of the society. (Lamb, 37) 2. 2. For this purpose it is needed to formulate a policy or practice that would enable the government to determine a policy to put restriction on the guns. It s important to include population from different walks of life and interview them for their views on the subject opposing the policy unrestricted access to firearms. The formulation of this research would be based on the surveys taken on the various government officials, general population and adolescents whereby it would be ascertained about the amount of agreement on the topic of gun control in the United States. Alongside a large amount of data would be collected to determine the detrimental affects of free ownership of guns in the mass population without government restrictions. This would also be accompanied by data regarding firearms related crimes in the United States and United Kingdoms. United Kingdoms would be taken into consideration to evaluate the effects of government regulation of firearms and the firearms rela ted crime rates of the two nations would be compared. A memorandum prepared in this process would be a vital part of the proposal to eradicate the policy unrestricted access to firearms.It is believed that the adolescents suffering from victimization goes through a huge psychological defoliation therefore it is important to address this case and the ultimate affect when some of them get free access to firearms. The government officials would be taken into consideration, specifically security and law enforcement officials, because these are the section that could convey the actual result of free access to firearms. Lastly, the general population would be considered because they are the main sufferers and it is important to incorporate their individual and social views. The main memorandum backed by the amount of research would certainly prove to be helpful while influencing the policymakers of the US authority. It is obvious that the policy of presenting well researched memorandum is viable to expose risk of unrestricted acce

The future of healthcare financing Research Paper

The future of healthcare financing - Research Paper Example With many driving forces affecting the market, e.g. consumerism and internet, various alternative health care financing companies have emerged. With the market looking for new solutions, the future of health care financing will be embedded on e-health plans. Technology has become an important aspect towards the changes being experienced in the sector (Schimpff 109). Many e-plans are likely to arise in order to cater for the increasing demand for reliable health care. In addition, many multinational companies are likely to shift into the health care sector in order to tap in the increasing profits. This will aim at reducing the risks and uncertainties associated with concentrating on a single market. The future of health care will be characterized by an effective relationship between the patients and the health care providers. Initially, the relationship did not exist. However, over the past few years, the relationship between the patients and doctors has improved tremendously. This is creating a base for the future health care financing. Doctors will be an important source of information on the best health care plan. This will play a significant role in enhancing the treatment process. Economists estimates that the hospital prices for privately insured patients will continue to rise especially in the consolidated markets. They forecast that providers will maximize their revenues through excessive use of imaging, testing, and specialty care. Therefore, in future, the government will have to intervene in order to prevent overexploitation of the population by the health care providers who are leaning more on profit maximization rather than service delivery (Cleverley, James and Paula 56). This move will be forced by the widening disparity on prices between various health sectors. The future of health financing will be characterized by effective systems. The health care providers will be

The Effects of Technology on Warfare Research Paper

The Effects of Technology on Warfare - Research Paper Example This research will begin with the statement that Clausewitz, Maude, and Graham define war as the â€Å"act of violence intended to compel our opponent to fulfill our will†. War requires a party to defeat its adversary, till such time that the adversary does not offer any more resistance. Violence equips itself with the innovations of science and technology to compete against violence. A strategy is defined as the assimilation and deployment of the objects of war to thwart the opponent. The conduct of warfare depends on the military tactics and strategies employed. Tactics help to put strategies into effect by making decisions that do not necessarily have a long-term effect. With changes in the character of war and advances in technology, strategies and tactics have seen a change in their meaning. This paper explores the effects of technology on warfare and alterations in the internal threads that accompany technological breakthroughs. The paper also addresses how technology re quires a reformulated conceptual change in war-making. The first part of the paper deals with warfare in the early period, before Napoleon began his conquests. It then sheds light on the method of warfare used by Napoleon. The paper explores the use of technology in different wars such as the US Civil War, the First and the Second World Wars, the Gulf War and the Lebanese War, helping to establish how wars were lost or won by using technology and demonstrating its role in war-making. The latter part of the paper examines how technology mandates a subsequent change in internal threads, followed by a conclusion.  For the most part of history, strategies were considered to be the art of how the general conducted warfare and was aimed to tackle problems such as breaking into a fort, arranging the armed forces in a tactical maneuver to give them the advantage over the opponent force etc. Strategies began to change in the past two centuries primarily due to the concept of policies that had the support of the public, international coalitions, and technological advances. As a result, it became increasingly difficult to tell national policies apart from military policies.

Public Policy Current Events Analysis Essay Example | Topics and Well Written Essays - 1000 words

Public Policy Current Events Analysis - Essay Example Chesapeake Bay is a crucial waterway. The bay is presently in critical condition and is facing a lot of challenges especially through pollution. Perhaps, the greatest source of pollution arises from increased nutrients in the bay especially phosphorus and nitrogen. Though, these nutrients are fundamental to sustain aquatic biological growth, if present in quantity excessive of the basic requirements, like in the Chesapeake Bay, they lead to excessive growth of algae and phytoplankton. This has had a twin effect. The algae have blocked sunlight, thus, preventing penetration to the deeper end water, thus, compromising the growth of bay grass. Secondly, when the algae die they use available oxygen in the deeper areas for decomposition creating dead zones, whereby the dissolved oxygen levels becomes too low to sustain marine life. This has led to dwindling of fishery resources in the bay. From the documentary, it is clear that these nutrients arise from a horde of sources notably from ag ricultural farms and sewage.Chicken manure is loaded with nitrogen and phosphorus which when carried to the bay by the rivers culminates in the dead zone. Hedrick smith also points to the fisherman as a source of the problems facing the Bay. He states that humans have drastically overfished the fisheries resources. This information has been known by the formal policy makers for quite a long time. Charles fox, EPA assistant administrator between 1998 and 2001, admits to this. They tried several methods to combat the problem such as trying to enact regulations and laws and initiating programmes to treat the sewage system. Nevertheless, they have been unable to combat this menace due to a horde of factors. Key among them is the lack of political will, despite available information showing what is necessary to save Chesapeake Bay. Leon Billing, US senate staff from 1966 to 1980 compares the same situation to the passage of Clean Water Act, which when it was passed in the senate, and the house, President Nixon vetoed it despite pressure from the people to enact the law to govern pollution. Charles Fox also points to preferential treatment to successful business stating that the Reagan administration had a deregulatory agenda often inviting successful businesses for a list of regulation they would want to relief. Further, he blames the administration for being an obstacle to the operations of EPA, stopping its operations for a period of about seven years and instead appointing people to run the EPA, people who were opposed to its mission. Informal policy actors have played a prominent role too.This is through active lobbying. Leon Billings states that the big chicken companies have hired top guns to lobby against the enactment of any meaningful regulations on the agriculture sector and, thus, influenced policy makers. When the Maryland legislature tried to compel mandatory nutrient management by farmers, they were opposed to the bill. Jim Perdue argues that the bill was a threat to survival of the industry in totality. Other informal policy actors include the public pressure, interest groups such as the non-governmental organization. PART 2 Gay marriage has emerged on the agenda because of both formal and informal actors. Same sex marriage has been a problem in the society for a while. It has captured public interest and as a result led to public debates whether to legalize it or not. With regards to New York, it was made an agenda due to electoral pledges, as

Napoleon Bonaparte's Essay Example | Topics and Well Written Essays - 500 words

Napoleon Bonaparte's - Essay Example The code was influential and formed the private law basis in countries such as Italy, Spain, Belgium, Netherlands, Portugal and Poland. These countries adopted this code especially those aspects related to family laws which were discriminatory against the married women. The codes were adopted mostly under the European Court on Human Rights’ pressure1. However, Napoleon is remembered best for his role in the Napoleonic Wars which were those wars which were led against the French by series of coalitions. He established a state which dominated over many parts of the continental Europe and spread across the ideas for the French Revolution while he consolidated an imperial monarchy. He gained success in these wars and proved to be one of the greatest military commanders of all time. He is still remembered for his warfare and innovations that led the success and despite having many enemies who were superior; he managed to successfully run his campaigns. Today, examples of his campaigns are taught at the military academics globally. In the beginning of the nineteenth century there was much disturbance and disarray in the French Empire until Napoleon was engaged in the series of conflicts that tackled with every major power in the Europe. However, these conflicts resulted in a series of victories and France was able to secure a dominating position in the continental Europe under Napoleon’s military. Napoleon also managed to maintain the influence of the French Empire on the European countries by forming alliances and appointing family and friends to rule these European countries as being the client states of the French (Landau 55). When it is about the impact on the events, Napoleon’s personality is what took the power. He had the skill and expertise which allowed him to take many correct decisions as he chose the best generals for the armies and stood by them till the end. He reorganized many of the things which allowed