Sports Management - Sponsorship Proposal Assignment

Sports Management - Sponsorship Proposal - Assignment Example The event will be held concurrently from the month of October 10th to 12th, incorporated with training sessions, followed by sprints. This event stands as one of the most recognized events in the Plone Content Management System (CMS). The target audience for the event are developers, managers, agencies of the government, students, education institutions, and any party interested in learning about technology. As a result, the event brings together the leading developers and contributors around the world and enable them to share relevant success stories. Other Plone events were held in Arnhem, San Francisco, Bristol, Budapest, Washington DC, Naples, Seattle, Vienna, and New Orleans. An event is a non-profit event and the revenue collected will be raised by sponsors. The sponsorship packages offered vary and suitable for various organizations and the target group. The sponsorship plan for the conference offers maximum exposure to the technical audience. The initiative of sponsoring the Plone Conference 2014 will enable an organization reaches an audience of developers, software engineers, managers, investors, and service end users from more than 30 countries in the world. The conference will enable the sponsor to This category is available to sponsors who can meet an investment of US $ 18,000 but limited to four sponsors. The sponsor will enjoy a prominent space in the exhibition hall (4 MÂ ²). At the same time the brand exposure through logo placement in Plone conference websites, conference rooms, tot berg insert, conference guides for mobile devices, Twitter announcements, and joint announcements. In the job fair platform, the sponsor will enjoy a reserved table for recruitment as well as an ad as a company recruiter in conference websites. Furthermore, the sponsor will have 10 conference passes and 10 training passes. This level is entitled to sponsorship investment of US $ 8,500 and only limited to four parties.

Mission and vision statements Essay Example for Free

Mission and vision statements Essay Mission of Toyota is to provide safe sound journey. Toyota is developing various new technologies from the perspective of energy saving and diversifying energy sources. Environment has been first and most important issue in priorities of Toyota and working toward creating a prosperous society and clean world. 3. Dell vision and mission Vision: It’s the way we do business. Its the way we interact with the community. Its the way we interpret the world around us our customers need, the future of technology, and the global business climate. Whatever changes the future may bring our vision Dell Vision will be our guiding force. Mission: To be the most successful computer company in the world at delivering the best customer experience in markets we serve. 4. Pepsi Vision and Mission Vision: PepsiCos responsibility is to continually improve all aspects of the world in which we operate environment, social, economic creating a better tomorrow than today. Mission: Our mission is to be the worlds premier consumer products company focused on convenient foods and beverages. We seek to produce financial rewards to investors as we provide opportunities for growth and enrichment to our employees, our business partners and the communities in which we operate. And in everything we do, we strive for honesty, fairness and integrity 5. Vision Mission of Titan Vision: To be a world-class, innovative and progressive organization and to build worlds’s most desirable brands. Mission: To create wealth for all our stakeholders by building highly successful businesses based on a customer-centric approach, and to contribute to the community.

Psychology Studies Essay -- essays research papers

Worobey, J., & Worobey, H. (1999) . The Impactg of a Two-Year School Breakfast Program for Preschool-Aged Children on Their Nutrient Intake and Pre-Academic Performance. Child Study Journal, 29, 113-131. This study contains information dealing with the relationship between nutrition and academic performance. The A variable consists of eating a well-balanced breakfast with a School Breakfast Program (SBP), while the B variable consists of pre-academic performance. The procedure these researchers used to study a nutritional breakfast was to provide preschoolers with a SBP. Every morning that the children attended school, Monday, Wednesday, and Friday, the preschoolers who participated would arrive at school at 8:15 A.M. and would eat breakfast in the dining hall until 9:00 A.M. when class would begin. The students were offered a breakfast that consisted of a serving of milk, a serving or fruit or vegetable or full-strength juice, and two servings of bread or meat or bread or meat-alternatives. The children could eat what they wished of the possible choices and every child ate breakfast on all the days it was available. The parents of the first randomly assigned group were asked to main tain breakfast log to keep a record of the breakfasts that the child ate on the days they did not attend school. The same routine was administered to the next randomly assigned group that was evaluated. Next each child in the experiment was tested for about 20 to 30 minutes each. These tests all took place before the daily snack was served. The pre-academic performance was observed through a series of tests that did not test General Intelligence. Instead they tested cognitive performance through memory games and mazes. These test included: Mazes, The Preschool Embedded Figures Test, Verbal Memory, Numerical Memory, Pattern Match, and Same of Different. Another study was constructed that only differed in the fact that a control group of student was used to compare to the group having the SBP. These students were given breakfast at home, keeping a log of what they ate. The tests administered were the same as in the first study.   Ã‚  Ã‚  Ã‚  Ã‚  The sample in the first study consisted of twelve pre-school aged children, five girls and seven boys ranging from the age of 3 years, 10 months to 5 years, 2 months. The sample in the second study consisted of 19 children... ...st year college GPAs and eating breakfast. However, the relationship between not eating breakfast and higher GPAs could have been a collinear relation to sleeping-habit factors, since those who woke up earlier have a better chance of eating breakfast. After controlling the effects of weekend and weekday wake up time, the study demonstrated that eating breakfast did not significantly affect the GPA. However, eating breakfast did prove to improve real and spatial memory among the students. No other nutritional-related variable had a significant effect on student GPA.   Ã‚  Ã‚  Ã‚  Ã‚  This was for the most part, a â€Å"good study† to test the relationship between health related factors and GPAs. The students were randomly assigned and the tests given to measure any correlation were valid tests that were reviewed by professionals in the areas. The part that was bad was the fact that the survey consisted of students that were available to respond. They were all at the same university. I think a wider sample that included student at different universities may have given a better representation of college students and the effects of nutrition.   Ã‚  Ã‚  Ã‚  Ã‚  (DD)

Null and Alternative Hypotheses

The development of null and alternative hypotheses was a difficult task for us at first. I think that people might have had issues understanding exactly what the difference was. I know that I myself had difficulty at first and ended up listening to the archived chats and reaching out to other members of my group for help. After doing all this and conducting some research online, I was finally able to grasp the concept. As the group communicated back and forth it was evident that we all agreed on a decision. The decision was to recommend the alternative hypothesis and support the plan that allowed cash back when the consumer makes an online purchase. My group decided on supporting the alternative hypothesis. We felt that it was in the best interest of Armed Forces Credit Union to proceed with offering cash back on all purchases made online. We thought this would benefit both the Credit Union and the consumer. By not restricting the incentive to only shoe stores, Armed Forces Credit Union allows the customer freedom to purchase any product and receive cash back. This in turn will increase the use of the credit card being offered by the Credit Union. This will also be an incentive to have customers apply for a credit card if they do not already have one. In the end, this option provided a better opportunity for growth for Armed Forces Credit Union. In order to explain the purpose of developing null and alternative hypotheses, we must first understand exactly what each of these is.

Best Buy Marketing Plan

2012 4/26/2012 Marketing Plan The Micro Environment The Company: Best Buy’s mission statement is â€Å"Our formula is simple: we’re a growth company focused on better solving the unmet needs of our customers—and we rely on our employees to solve those puzzles. Thanks for stopping. † Their company perspective is the following â€Å"Our vision is to make life fun and easy. Our business strategy is to bring technology and consumers together in a retail environment that focuses on educating consumers on the features and benefits of technology and entertainment products, while maximizing overall profitability.We believe our stores offer consumers meaningful advantages in store environment, product value, selection and service, all of which advance our objectives of enhancing our business model, gaining market share and improving profitability. † Best Buy strives to continue its growth and innovation in order to come up with new ideas and new ways to intr igue their customers and also new ways for their employees to work as a team and work together.One of their goals is to offer solutions for entertainment and technology that will meet their customers’ needs, â€Å"end-to-end. † Best Buy’s core competencies is simply to make technology and entertainment products affordable and easy to use for their customers. â€Å"We're world-class in store experience, customer orientation, inventory management, executing new store concepts, and rallying our people around common goals, as well as, marketing, merchandising and related disciplines. † Some areas of improvement that Best Buy is currently undergoing are to be greener.In order to do so, they have to add more green vehicles when it comes to transportation and also stocking more green products in their stores so they can educate their customers about the impacts they may have by purchasing green products. Competitive review: Best Buy’s top three main compe titors include Wal-Mart, Target, and RadioShack. Wal-Mart not only engages in the retail sale of electronic goods, but also offers food, health and beauty aids, apparel for women, girls, men, boys, and infants, jewelry, and a wide variety of many other products.Their market cap is $211. 51 B, which as you can see is much larger than Best Buy’s market cap, but the reason is simply because Wal-Mart specializes in selling a wide range of products and not solely electronics. Wall-Mart is the world’s largest retailer and grocery store by sales, which amounts to almost 50% more than its closest competitors combined, such as Target and Sears. One of Wal-Mart's biggest strengths is that many suppliers give in to Wal-Mart’s pressure because they depend heavily on the discount retailer that they offer for a majority of their sales.One of Wal-Mart’s weaknesses has to do with their reliance on Chinese-made imports because the company may become vulnerable to a weaken ing dollar or strengthening of the Yuan. Since Wal-Mart purchases the majority of their products from China every year, if the Yuan dollar strengthens, Wal-Mart will soon have to pay more for their merchandise that comes from China, which will further affect Wal-Mart’s bottom line. Target is very similar to Best Buy and like Wal-Mart they offer far more then just consumer electronics.Most of their stores include clothing, furniture, and a grocery department. In the last year, their stock has hit a 52-week low of $45. 28 and 52-week high of $58. 95, compared to that of Best Buy, which has a low of $19. 79 and a high of $32. 85. The reason the stock for Target is worth more is because they offer a larger variety of products so they have a larger market share then Best Buy. When you compare the quality of electronic products between Best Buy and Target you will see that Best Buy has the advantage.For example with TV’s, Target will offer more of the smaller named more affo rdable televisions. These TV’s can not compare to the quality of the big name products that Best Buy offers, such as Pioneer Elite. The biggest strength that Target has is their wide array of products from many different departments. But they also have a weakness for their customer service. Many times you can go into the store and never be helped by one of the employees. Then when you find one, they are uneducated on many of the products.RadioShack is similar to Best Buy since they both engage in the retail sale of electronic products and services. Some products include home entertainment systems, scanners, GPS products, digital camera, and many others. â€Å"As of March 31, 2011, the company operated 4,467 company-operated retail stores under the RadioShack brand name in the United States; and 1,304 kiosks located in Target and Sam’s Club stores. † Their market cap is a total of 732. 80 M, compared to Best Buy’s market cap of 8. 88 B.RadioShack recently launched a new low price guarantee on mobile phones in order to attract customers and show them that they are offering the best deals. It is also has a Trade and Save program which allows customers to trade in their used mobile phones and other electronic devices for immediate credit toward their next purchase. The company also has a new Mobile Product Support which provides customers with free specialist support to help them resolve any of their mobile phones or other device-related issues at no additional cost.RadioShack is currently undergoing a plunge in their stock price due to the significant growth of the online retail market, such as eBay and Amazon. Corporate partners review and channels: Best Buy is an electronic retail store, according to the Best Buy 2011 fiscal year report, they operate 1,099 US Bes Buy stores, 6 Magnolia Audio Video Stores specializing in high-end electronics, 6 Audio Visions Stores, 117 Best Buy Mobile Stores and 35 Pacific Sales kitchen and bath cent er Stores (in Southern California, Arizona, and Nevada).Best buy also operates on the international market with 71 Best Buy Stores in Canada, 2440 Best Buy’s in Europe – Small Box, 6 Best Buy’s in Europe – Big Box, 166 Five Star Stores, 8 China Best Buy Stores, 10 Best Buy Mobile Canada, 6 Mexico Best Buy Stores, 2 Turkey Best Buy Stores and 146 future shop stores throughout Canada. In the U. S. Best Buy has a 1,200 square foot Best Buy Mobile store as well as a 20,000, 30,000 and 45,000 square foot Best Buy big box store. In Canada, Future Shop stores average 26,000 square feet and Canadian Best Buy stores average 32,000 square feet.In Europe, The Carphone Warehouse and The Phone House stores average 800 square feet. Best Buy also operates online, allowing Customers to purchase product on line at www. bestbuy. com. The main challenge associated to Best Buy distribution is that the company relies on a handful number of vendors for the supply of their prod uct. Best Buy only accounts for 60 percent of the merchandise it purchases, therefore if any supplier is unable to supply or there is disruption and lost from any vendor, the company may not be able to meet the demand of the customers. Product review:Best buy offer product such as electronic, home office product, entertainment software, appliances and related services. Consumer electronic is their largest product category which includes video and audio equipment such as television sets, DVD player, audio system, portable audio player and car stereo. Some of the Home office products are computers, telephone, cellular phone, copier and calculator. Entertainment software offered are CD, DVD, computer software and video games. Best Buy home appliances are dish washer, air conditioners, washing machine, dryers, ranges and refrigerator.Best Buy offers sales on multiple of their items which are computer, tablets, home theater, mobile phones, IPod, cameras, car GPS, appliances, home, finess es, music instrument, video games and movies. However, Best Buy’s most famous sale is on black Friday, they are among â€Å"the top 3 brick and mortar retailers† according to blackFridayads. com. Best buy has a price matching guarantee police they state â€Å"Best Buy will match the price if you find a lower price on an identical available product at a local retail competitor's store, a local Best Buy retail store or BestBuy. com.Simply let us know when you are making your purchase or during the return and exchange period. † Matching prices to competitor such as Amazon and Wal-Mart. The Bureau of Economic Analysis recorded negative growth rate for retail stores during the third and fourth quarters of 2008. Best Buy is the largest U. S consumer electronic retailer by revenue, with $40 billion in net sales in fiscal 2008. Best Buy revenues have increase since 2007 it went from 35. 9 billion in February 2007 to 50. 3 billion in February 2011. The gross profit has a lso considerably increased by 46. 5% since 2008. There is also a considerable increase in their net income, it went from 1. 38 billion to 2. 70 billion in 2011. However, and their operating incomes have also increased, due to an increase of 92. 14% in the depreciation and amortization. In overall their profit has been increasing since 2007. Market/industry description and overview: Over the last few years the consumer electronics retail industry has taken a big hit. One of the big factors for this is the recession; people have less money to spend on material possessions then they used too.The big retail stores such as Best Buy and Target have lost profits due to customers looking to find the best deal possible to save money. Some of Best Buy’s biggest competitors, Amazon for example, have been able to take advantage of this by selling items online at a much lower price. Many times it is a price that Best Buy and many other large retail stores cannot match. An article from htt p://ledfrog. com/blog/2011/04/the-future-of-big-box-retailers/ stated, â€Å"I can go to the store, check out a new camcorder or surround sound system and then decide if it’s something I want.If it is, I’ll ask the manager if they can match Amazon’s deeply discounted price. If he can, I’ll buy it at Best Buy. If not, I’ll go home and order it online. † Because of the online shopping, the market for electronic retailers is shrinking so it will be important to capitalize on the market that is there. The Macro Environment Culture Best Buy wants its main consumers to be in the middle to upper class. It is because of this that they do not specifically target any one gender or race. As long as the consumer has the money to spend Best Buy will want to service them.Those apply to Best Buy as a whole throughout the country; regionally things are a little different. Depending on what region the store is located Best Buy will have to focus on different things. For example in South Los Angeles where the population is predominantly Hispanic and primarily speak Spanish, the employees that are hired there are going to have to know how to speak Spanish, and many of the product signs can have Spanish written on them too. So Best Buy can have the same message throughout the company, but you are going to have to focus more on the little details of where the store is regionally so you do not offend the customers.Demographics: As a company Best Buy has divided its core customers into five different demographic segments, and they call it customer centricity. They have given a name to each one of these segments, Barry, Jill, Buzz, Ray, and Mr. Storefront. Barry is a man in the age range of 24 to 45 who is an affluent tech enthusiast; typically he will be in the higher income bracket and spend more money. Jill is a suburban mom with a targeted age of 24 to 45; she is also in a high income bracket but does not like the whole shopping experienc e for tech products. Buzz is either male or female with a targeted age of 18 to 24.They would be young shoppers into gadgets, video games, and movies, and is in a low income bracket. Ray is a price-conscious family guy between the ages of 24 to 45; he will be looking for the best deals and likes to see advertisements, also he is in a middle income bracket. Mr. Storefront is a small business owner in any age bracket and any income bracket. They have also divided two other segments of customers who are outside of their core targets. The first is named Carrie and she is a young single woman in a low income bracket between the ages of 18 to 30.The second is targeted at empty nesters they are both male and female between the ages of 45 to 55 they are in a middle income bracket and are named Helen and Charlie. The purpose of the customer centricity program is so that a store can meet the needs of its main shoppers. You have to first find out the find out what type of shopper goes to a sto re most and then tailor that store to their desires. For example if you have a store that is tailored to a Barry and Jill that store will have a lot of lighting and fixtures to meet the needs of Barry and personal shopping assistants to help the Jill’s find their products.Best Buy as a whole has decided to focus its demographic segments on people in the income bracket of the upper to middle class. The reason for this is that our core customers are in these income brackets, and knowing this allows the company to build the store to what those classes want. I would not consider dropping any of these customer segments because they cover a vast majority of the shoppers that Best Buy receives. The customer centricity program is what helped keep Best Buy so profitable when companies like Circuit City went out of business. I would however create a new segment named Andy.Andy will be a single man living on his own. This person will be in the mid to high income bracket and be a new tec h and gadget shopper. His main purchases would be in home theater and computer. Social trends: Social trends are one of the biggest driving factors for the income that Best Buy receives. But they also can have a negative impact if we do not address the trends properly. It is very important to keep up with the social trends to help keep our business relevant and in the news for positive reasons. One of the bigger trends right now is marketing through Face book and Twitter; about 41. % of Americans are active users of Face book. That is a lot of people we can market to at a basically free price since Face book and Twitter are free to use. Price sensitivity is also a major concern to deal with. If we only have high end products that are very expensive to buy you are limiting your customer demographic which will in turn lower profits. The best way to deal with this is to carry the high end products but also carry similar products that are at a lower cost. One of the bigger concerns that we have to deal with is energy consumption.The Go Green social trend is a big thing right now and three of our big departments, Home Theater, Appliances, and Computers. These departments not only consume a lot of energy in the store but the products we sell do too. I feel that we can capitalize on this market by purchasing products to sell that are more energy efficient, and advertising these products. This can help drive up our business while also having a greener impact on this earth which looks good for our public relations. Other macro environment factors: Current technological trends have had a negative effect on Best Buys current and potentially future success.One of the main tech trends eroding Best Buys business model is the increased utility and web capabilities of smart phones. With the increased web capabilities of phones a new type of shopper has emerged known as the â€Å"mobile price matchers† (Smith). According to a recent survey conducted by the Pew Internet project â€Å"More than half of adult cell phone owners used their cell phones while they were in a store during the 2011 holiday season† (Smith). These customers routinely use their phones while in retail locations to price match, find product reviews, and/or ask friends for advice.This trend has been especially damaging to Best Buy who is a chief victim of this new style of shopping. It is not uncommon for customers to walk into a local Best Buy view a product and immediately search for reviews or better prices on their smart phones. It is possibly to use this technology to our advantage. One way is to develop a smart phone app for Best Buy that is fun, interactive, and informative. This will allow the customer to use the app to find if the product he wants is in the store, and compare it to other major retailer’s prices for the same product.The economic situation is quite possibly the most damaging thing for Best Buy. When the country, let alone most of the world, i s in a recession it affects the number of customers that come into the store and the amount that they are willing to spend. In the late 1990’s and early 2000’s America was at its highest. People had more money then ever and they were looking to spend it. Then when the big recession hit in 2008 customers still were looking to purchase products but their style of purchasing changed. For a while there, a lot of customers did not care what they spent for their item, they just wanted it.Now they are looking for the best deals out there, it does not matter how they get their product as long as they get the best deal for it. This is where it has hurt Best Buy the most because they can not compete with most online store prices, and still be able to make a profit. The key for future success for Best Buy may be to offer more variety of products at a lower cost. This can help them drive more consumers to the store and make purchases. Marketing Strategy Sustainable competitive adv antage: Best Buy enjoys a sustainable competitive advantage because to this date, they are the biggest U.S specialty electronics retailer. Although they are currently experiencing financial problems due to the recession a few years back, Best Buy still seems to have many loyal customers that continue to keep shopping at their stores. The reason why Best Buy contains such a sustainable competitive advantage amongst their competitors, such as Walmart or Amazon, is because it relates not only to product excellence, but customer and locational excellence as well. Best Buy has achieved product excellence through offering the top of the line products in consumer electronics.This is why Best Buy has a lot of loyal customers; they provide products with great quality and high perceived value. They know that if they buy a product from Best Buy that this product will last them a long time, especially if they buy the warranty for it. Another reason why Best Buy enjoys a sustainable competitive advantage is because they also have customer excellence. Best Buy contains a service, known as the Geek Squad, which is a group of employees that help customers with problems they may be having with their electronics. Also, customers are able to rely on the well rained employees when they have a question regarding certain products. Best Buy also has locational excellence since they have over a thousand stores both domestically and internationally. Many say â€Å"The three most important things in retailing are location, location, location. † With this many stores Best Buy is going to be an appealing choice to those other than loyal customers, because it’ll become more convenient to go to a Best Buy that is less than 20 minutes away from your house. There are plans to open up at least 100 stores by 2013 http://www. innovationexcellence. com .This will not only help with their sales, but it will also allow for more customers to become loyal to Best Buy because it’ ll be convenient for them to go to their local Best Buy. Growth strategies Best Buy pursues a marketing penetration strategy. The company employs existing marketing mix and focuses the firm’s efforts on existing customers. Best Buy attempts to increase market share by using existing products and services. The company wants to attract new customers to the current target market and encourage current customers to patronize the firm more often, or buy more merchandise on each visit.In order to accomplish its goals Best Buy has to develop great marketing effort, they have to increase advertisement, sales, and promotions. For instance, Best Buy will broadcast ads on TV every time they want to advertise a new product in the store, such as the latest IPhone. The company wants their current costumers to be aware that the store is carrying new products and new costumers to know what kind of products they sell. During holidays and events such as black Friday, the company advertises thei r deals, so their current costumers buy more merchandise on each visit. SWOT STRENGTHS: Large amount of retail outlets in prime locations * 1,099 US best buy stores, * 6 Magnolia Audio Video Stores * 6 Audio Visions Stores, * 117 Best Buy Mobile Stores * 35 Pacific Sales kitchen and bath center Stores * Brand Loyalty * Very strong brand name * Stores are large * Flexibility exists to add new product lines due to ample space * Value adding customer service * Excellent customer service and technological know how * Geek Squad WEAKNESSES: * Best Buy relies on vendors to supply a large percentage of products which can potentially lead to supply disruption. Example: If Sony and Apple decide to no longer supply Best Buy it would be devastating. * Weak online presence * Late start in e-commerce * E-Bay and Amazon far better online Limited product selection in OPPORTUNITY: * Capture emerging â€Å"mobile price matchers† market * Use social media to reach out to this market * Capitaliz e on iPhone ; Smart Phone market * Pursue the business of young bachelors more aggressively * Undervalued customers with high interest in technology * Social Media * Utilize Face book and Twitter more effectively build relationships * Going green Can lead to potential overhead savings and good public relations THREATS: * Retail discounters such as Wal-Mart and Target * Discounters are stealing electronics market share due to higher foot traffic fueled in large part to product mix * Consumers spend more time at discounters locations because they can buy food, clothing, and entertainment under one roof * Rising trend of â€Å"mobile price matchers† * Consumer deciding to buy elsewhere while in Best Buy can prove to be fatal because it negates all other core competenciesObjectives/Goals and Problem to be Addressed Based on the results of your SWOT analysis, clearly state the Problem that you are planning to address (once you have described the current situation of the company, y ou should be able to articulate the specific problem you want to address and the goals of your marketing plan. ) Please make sure to clearly identify your specific Objectives/Goals. Segmentation (See Chart in Index) When making the market segmentation we decided to separate it into three different segments, gender, age, and income.We chose these segments because they provide the bulk of our customers that shop at a store. Gender was first because that is the most identifiable one. It is easy to separate and calculate who is coming to the store based on their gender. Age is a big factor because we can determine the type of customers that are coming into the stores, a young person will see things much differently then an older person and they both will be looking to buy different things. Finally we picked income because it will tell us how much money people have and are willing to spend at our stores.If we have a store that is getting a lot of low income people going into it, we can n ot have it stocked full of products that they can not afford. Using this we were able to create a customer segment chart. (See Customer Segment chart in the Index) After making the Customer Segment chart we found that we had 18 different segments to work with. Each segment is a little different, but as a whole they make up most of the customers that shop at our stores. When looking at the chart you can see that each segment has something different. The chart covers male and females from different ages to different income levels.You can see that in segment 1 you have males who are under 17 and are in the low income, which is different then segment 4 who are the same but middle income and segment 7 who are in the high income. The information provided by the chart will be very useful in determining which segments to target, and which segments will be unprofitable so we can eliminate them. Targeting Market segments 1. Gender: Male and Female 2. Age: teenager 17 and under, young adult 18 -29 and adult 30-59 3. Income: middle class and upper class Segment attractivenessIt is essential for Best Buy to evaluate segment attractiveness for each of these segments. They first must determine if the segments are worth pursuing, using specific criteria: is the segment identifiable, substantial, reachable, responsive, and profitable. Identifiable: * Teenagers 17 and under have high interest for video games and cell phones. They are aware of the new technology innovation but don’t really use complex ones which might be to high-tech for them, therefore Best Buy will have to take in consideration that they might not be able to know how to use a MacBook Pro as a young adult would. Young adults 18 to 29, such as college students, are more open to try new technology which would later build up in lifelong brand-loyal customers. As a result Best Buy always tries to keep up with the latest technology, offering the newest version of Mac laptop or the last android. * Older adults age 30 to 59 tends to stay with products they are accustomed to. They have difficulties getting used to new technology or do not have the actually time to keep up. Older adults have long working hours or have children to take care of; they do not really have time to used new technology.Most even have to rely on their children in order to know how some electronics around the household work. Best Buy should also consider the differences in incomes among the classes. They should divide customers by their incomes in order to provide services and products that are affordable to all. We consider middle and to upper classes since they are the ones who can purchase higher priced electronics. The middle class which is price sensitive makes between 30,000 to 50,000 dollars a year. They have the ability to purchase electronics such as computers, cell phones or TVs but only at affordable prices.In the upper class, customers are ready to pay high prices for high end goods. However we wouldn†™t target gender because it just represents one segment. Best Buy doesn’t sell one type of product that attract men and another that attract women; they do not focus on gender differentiation. For instance they are no special gadgets or section for women in the store. Substantial: This criterion consists on measuring the target markets. If a market is too small it is insignificant and it will not generate sufficient profit.If it’s too big it might need a bigger store. In this case we should consider the segment of Loyalty; loyal consumers are lifelong customers which make them a substantial segment. Most loyal consumers are those living near the location. For instance it would make more sense for a customer to go grocery shopping at a Vons store that’s 2 miles away and become a regular customer, than drive 20 miles to an Albertson store. Database such as census. gov can be really useful to determine how many people live in the area or how long they have been l iving in that area.For instance 1,068,344 people in Los Angeles have been living in the same house since 2005, which is 33. 2% of the population in Los Angeles. So this means that some of the 33. 2% might be loyal customers to their local store. We wouldn’t consider occasion consumer because they don’t represent a large enough market segment. Since they are not a usual customer it is hard to consider them as a significant segment. Video game companies always promote a new game, and teenagers like to be up to date and purchase the latest one, which is profitable on the long run.Young adults also represent lifelong consumers, since they are interested in technology innovation. For instance college students like to purchase new gadgets to work on their school work or just to stay in touch with their friends, classmates or family members. It would be a good idea for Best Buy to use census data to allocate to younger consumers. Reachable: It means that the consumers know th e product exists, understand what it can do for him or her and recognize how to buy it. It is essential for Best Buy to care different types of technologies at different prices.Their product must attract all ages and be affordable for all Incomes. Different items are offered at different prices, which means everybody can afforded regardless of their incomes. * Middle classes are price sensible, they want to own technology but at affordable prices. It is easier for a company to reach them during sales and holidays, where they purchase items in large county, buying for family member, friends or just for the good deals. * Upper classes are easily reachable; they want to get high end products and are ready to pay the price.They usually want to purchase the latest high-tech product, new IPhone or biggest 3D TV. They are mainly up to date and are aware of new innovation through the different media outlets. Both young and old generations should be aware that Best Buy caries different types of technologies. For instance phone with lots of different applications and new innovations. Such as the iPhone, it attracts younger crowds, whereas less complex gadgets mainly attract an older crowd. * Teenagers and young adults are usually aware of the latest technology and where to purchase them.They have easy access to media; they follow TV and internet ads. Moreover, young generations share information among each other talking about the latest Apple computer or Android. * Older adults found out about new technology or where to purchase them from their children, friends or coworkers. They are also easily reachable; they have access to internet, TV or older media such as newspapers. Loyal consumers are the most accessible; stores mainly collect their information; email addresses or phone number.It makes it easy for the store to send them ads about new products or inform them about a sale on existing products. Loyal consumers also frequently come in the store to check on new prod uct or get information about items they want to purchase. Responsiveness: The customers in the segment must react similarly and positively to the firm’s offering, move toward firm’s product and services and accept the firm’s value proposition. It is easy for a company to measure the responsiveness of loyal consumer, since loyal consumers are highly responsive to a company’s product.They have learned to appreciate what the firm has to offer and accept their value, which lead them to become usual. Companies have to make sure they can properly respond to their consumer needs and wants, if they can’t provide them with the product they want, they shouldn’t target them. For instance, Best Buy would probably fail if they decide to sell bridal gal to attract more female customers. Best Buy is known to offer technological products and their consumers come in the store looking for electronics. They would be confused to see an electronic store selling bridle gal.Teenagers are highly responsive to new technology, they always want to upgrade to newest and fastest gadgets. For example if new video games come out, teenagers are the first to line up at the store and purchase it at any price. Young adults are open to trying new technology, therefore it would be easier to get them positively respond to new innovations. They are the early adopter of new media and technology. The middle class are price sensitive; however they are open to spend money when the deal is right. They are more responsive during sales period, such as black Friday and holidays, such as Christmas.They are big spenders compared to the upper class; which according to the book â€Å"The millionaire next door† put 20 percent of their money into investments and savings accounts. During sales and holidays the middle class purchase in large quantities, as they find the best deals to buy for family and friends. Nevertheless the upper class is still responsive to new innovation; they want to possess the latest technology no matter the price. They like to purchase luxury electronics that provide the experience and the comfort that high-tech has to offer. Profitability: Market segments that generate profitTeenager: According to the U. S census Bureau, there are 247,215 out of 3,772,486 people in Los Angeles who range from 10 to 14 years old, which is 6. 6%. 273,419 out of the same number are between the age of 15 and 19, it represent 7. 2%. let say out of the 520,634 teenagers 10,000 (2%) play and purchase video games on regular bases . The average video game at Best Buy cost 19. 99$. Video games are realize every 5 to 6 days, which mean there is a realize every week. We will consider they purchase the video game every 2 month when they receive pocket money.Variable cost would represent 1/3 of the price sold 6. 66$. Best Buy spend 10,325,000 on fixed cost a month and they have 1099 stores which means each store spends 9,394. 90$. It is 112,738. 8 0 a year Segment size 520,634 X Segment adaptation percentage 2 %X Purchase behavior (19. 99*6) X Profit margin percent (19. 99-6. 66)/19. 99 -Fixed cost 112,738. 80 = 724,022. 08 Best Buy would make a profit of 724,022. 08 a year by selling video games to teenagers. Middle class: 176,674 out of 1,314,198 household in Los Angles make between 35,000 to $49,999 which is considered as middle class income.Most of these household spend a large quantity of money during holiday. Especially during Christmas on gift items, which mean they would purchase them 2 a year IPad is really famous not only among children but also adults. It is a great birthday or Christmas gift. Let say 500 of this household purchase iPads, at least two iPad per household either own by two children or one child one adult or two adults. 100 iPads. One iPads cost 499. 99$. The variable price is 259. 60$. Segment size 176,674 X Segment adaptation percentage 0. 3 %X Purchase behavior (499. 9*2) X Profit margin percent (4 99. 99-259. 60)/499. 99 -Fixed cost 112,738. 80 = 141, 66571 Upper class: 62,319 out of 1,314,198 household make between $150,000 to $199,999, they are the Upper-class. They like to purchase brand new electronics as gift or because it is the brand new model. We will consider 3 purchases a year; birthday gift, holiday gift and the realize day for the brand new model. 5000 of the 62,319 household purchase iPads the same year. Upper class family usually do not have a lot of children, high income just represent 5. % of the working class with families. They buy 5 of them a year, 2 birthday gifts for children and wife/husband, for they realize of the new model and Christmas gift for friends and family 2. Segment size 62,319 X Segment adaptation percentage 8 %X Purchase behavior (499. 99*2) X Profit margin percent (499. 99-259. 60)/499. 99 -Fixed cost 112,738. 80 = 2,280,262. 94 Best buy would definitely make a higher profit if they target the upper class for the sale of IPad. Market targe ting strategy We will use the Differentiated (segmented) marketing as our market targeting strategy.Differentiated marketing strategy is a market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each segment. This strategy is the most appropriated for Best Buy since its goal is to target specific market segment. It wouldn’t make sense for them to practice an undifferentiated marketing strategy, which involve ignoring the different segments and going after the whole market. Moreover, Best Buy is a retailer of consumer electronics, which means they sell all types of electronics coming from different brands, they are already able to provide the consumer with a wild varieties of brands.By using the differentiated marketing strategy they can assist all of their consumers regardless of their preference, income or age. They would provide them with the exact product they want. This strategy is also profitable in the long run, helping build up lifelong consumer. The consumer is able to get the product that he wants and also has varieties of other options, which gives you an advantage over your competitors. The practice of concentrated marketing strategy will not allow Best Buy to have the flexibility to offer different electronics, this strategy only concentrate on a single target market.Micromarketing strategy wouldn’t apply to Best Buy because it only focuses on satisfying the need and want of a single consumer, whereas Best Buy groups his Customers within segments. Perceptual Positioning Map (See Index at the end) Positioning: One of the reasons Best Buy has been so successful over the years is because of its brand loyalty. We believe that this was created from the good customer service that we provide and the relatively low prices we maintain, as you can see from the chart. Some of our competitors have lower prices than us but the ones that do tend to have poor customer service.One of the bigg est concerns that we as a company have to worry about is the low prices that Wal-Mart offers. As the economy continues to be in a recession people are looking for the best price possible as they have to be thriftier with their money. Wal-Mart has dominated the low price position for years and it will be very hard to compete with the prices that they offer. One of the ways to compete with them is our price match guarantee, that way if they have the exact same product at a lower price we can keep our customer by matching the price. Another concern that we may have is with Apple.They have built one of the strongest customer loyalty companies in the world. People are willing to spend more money on Apple products and services just because of the strong brand name that Apple is. Even now that Best Buy is offering Apple products in our stores people will still choose an Apple store over ours. We believe that that main reason for this is the customer service that Apple has provided over the years. They are known for having some of the most advanced technology in their market. For us to gain the loyalty that Apple has we will have to focus on meeting all of our customers’ needs.Most notably the place on the map we would like to be is at the lower right side at low price and high customer service. This is a position that is not covered on a map that there will be a wide open market for. Target, Wal-Mart and online stores such as EBay are able to offer lower price on many of the products that we sell, but they do not provide the quality of service that we do. If Best Buy can keep or even improve its customer service while at the same time lowering many of our prices, we can open the doors to a much larger market.The best position to be taken by Best buy would be one of cheaper prices and better customer service. Now it is true that Best Buy has fairly cheap prices already and with Geek Squad they have fairly good customer service but my belief is they need go furt her with what they have already accomplished. Given the facts and findings there is an entire untapped market of lower priced products and great customer service that would be incredibly lucrative. Now the obvious reasoning behind why there is an untapped market in this area is the financial problems.There isn’t an easy way to have cheap products and great customer service because of the fact that customer service is expensive. However there is one way to successfully do it. As stated earlier they need to target their ideal markets better and literally know when a customer walks in where he or she would be best suited to go and make that area the most appealing. Maybe give the areas themes that would attract the ideal market. The next thing that they would have to do is steal customers away from places like Wal-Mart and Apple because it is the fact that they are loyal to those companies that is the most damaging to Best Buy.Now granted this would not be the easiest thing to d o. They would have to consistently promote cheaper products and better customer service. After they have done that however, the number of customers that they have would make up for the cheaper prices, the increased customer service, and the advertising (in theory). And if this is successful they would have gained access to an un-tapped market where they literally could not be touched, because no one could compete with them. The way the company is currently focused is on targeting wealthier customers.Our store associates are trained to spot customer demographics in the middle to upper class and push our products to them. In many cases this can cause them to focus too much on a one demographic and leave out great customer service to other social classes. If we change our position and start offering similar products at a lower price than our high end products, we will attract the thrifty spenders to Best Buy. So by offering these products at lower prices but still providing top notch c ustomer service we can see a large growth in customer loyalty.The most important thing to this is to treat the lower income families just as well as we would treat the higher income families. This is where places like Wal-Mart and Target fail, they offer the better bargains but it is hard to find good help from an employee when you go into the store. Marketing Mix Products and Services Best Buy is currently one of the last major consumer electronics retailers out there because they provide a wide variety of products that customers can choose from.Since Best Buy sells everything from televisions to refrigerators, which are two completely different appliances, what more can Best Buy offer? Instead of introducing new products, Best Buy should consider offering cheaper prices for their current products in order to attract a different group of customers. Currently, Best Buy is more focused with attracting the wealthy consumers by providing them with products such as the iPad and Blu-ray televisions to keep those customers interested and loyal to their company.By offering cheaper prices, this could allow the middle-/lower-class to be able to attain great quality products with affordable prices. Since our marketing positioning is to target those customers with lower incomes, what better way to do so than lowering their prices on certain products to show that Best Buy products are great and affordable for everyone? As far as their products are concerned, the main modifications they need to make to existing products is providing a wider range of video games and gaming systems.Since the younger generation is becoming more accustomed to using electronics at such a young age, it might be an advantage for Best Buy to sell more video games, which will in turn attract the younger audience to convince their parents to bring them to the store. The company will not only benefit in bringing in the younger crowd, but will also bring in their parents, who will more than likely bec ome attracted to the big screen televisions and wide range of laptops that Best Buy has to offer. Also, Best Buy should consider hiring qualified employees for the Geek Squad in order to minimize customer complaints.Since this service provides customers with assistance for their broken electronics, some one who has background knowledge and has had experience fixing broken laptops, cameras, etc.. should be the one assisting them with their problems. The Geek Squad is known for hiring employees who have not had past experience with fixing broken electronics. Although the Geek Squad does a good job, customers will be more comfortable knowing that the â€Å"geek† helping them with their broken electronics is someone who knows what they are dealing with.Best Buy provides many products for their customers, some that even some people wouldn't expect for their store to provide. For instance, the company should consider dropping the home appliances section because since Best Buy is kn own more as an electronics store, kitchen accessories such as refrigerators and microwaves seem to be products the company is selling just to make extra profit. From past experiences of visiting the store, the home appliances section is always either empty or with very few people taking a look at their washers and dryers.Most of Best Buy's customers are concerned with the laptops and televisions, and to sell kitchen appliances doesn't go along with the â€Å"entertainment† feel that Best Buy provides. Also, now that technology is improving and more people are switching to buy Blu-Ray televisions, Best Buy should consider dropping the VHS section. Since people are learning to adapt to the new technology, more customers are interested in buying Blu-ray DVD's since they provide better quality than VHS. Pricing In the consumer electronics retail business having competitive pricing is of the utmost importance.This is due in large part to the ultra-competitive nature of the electro nics business. Consumer electronics such as new TVs and the latest computers/tablets are highly desired by the masses. However, these items tend to be highly elastic in there demand, making pricing a key component in attracting customers. Furthermore, in today’s consumer electronics market many major retailers regardless of specialty carry consumer electronics, making it possible to purchase socks and a computer all under one roof.Moreover the emergence of e-commerce has made it easier than ever to perform real time price comparisons. The growing practice of online price comparisons has given online retailers who benefit from lower overhead costs an advantage, because they possess the ability to offer low prices along with a massive selection. Taking the preceding factors into consideration it is clear that the importance of being price competitive is greater than ever. As a result we have conducted a price analysis of Best Buys top selling product lines. The retailers compar ed to Best Buy in this nalysis are Amazon, Wal-Mart, and Target. The products to be compared consist of top selling T. V. ’s, Tablets, Laptops, and Mp3 players. T. V. Price comparison: Televisions have been of Best-Buys top selling product lines for years and a vital component of any future success. It is important that Best-Buy continue to dominate television sales if we hope to remain atop the consumer electronics retail mountain. Continued dominance in television sales will be a problem. Due to increased competition from retailers who now offer a host of televisions for sale, Best-Buy is losing market share.Because consumers are more likely to frequent Wal-Mart and Target for every day purchases such as soap, it is important to convey value through pricing when customers enter our doors. Our price survey shows that Best-Buy continues to be highly competitive on television prices. For example, a Samsung 51† (PN51D450) television can be found at Amazon for $697, but Be st-Buy and Target are not far behind at $699 and Wal-Mart is priced highest at $799. Amazon beats Best-Buy by 2 dollars but the added convenience of in-store pickup outweighs the slight price difference.Generally Best-Buy is the lowest price if not it is very close to its competitors. The television price strategy is spot on. However, offering a one-time sale of loss leader 32† could go a long way in establishing Best-Buy as the go to retailer for television purchases. Tablet price comparison: Tablets are the hottest devices in the electronics market today. Tablets continue to rise in popularity and it is likely that they will eventually replace laptops as the device of choice for mobile computing. Because of tablets rising popularity it’s important for Best-Buy to capture market share in this product line.The best-selling tablet and industry leader is Apples ipad3 this product is currently offered by all of Best-Buys competitors at the same price across the board. It i s unlikely that any retailer will ever have a price advantage on Apple products. Next in line behind the iPad is the asus eepad, this tablet has the potential to one day compete with the iPad. Best-Buy offers the eepad at the lowest cost on the market at $349; Target can match this price but struggle to keep stock levels up. Amazon and Wal-Mart offer the eepad at $359 and $379 respectively.Offering the next best option to the iPad at the lowest cost puts Best-Buy in an excellent position to capture market share. Laptop price comparison: Although tablets continue to increase in popularity the staple of mobile computing continues to be the Laptop. The versatility and portability of Laptops have kept it in high demand. It is likely that tablets will not possess the computing power to replace laptops anytime soon because of this Best-Buy must remain a major player in this market. A price comparison of laptops shows that this is an area Best-Buy can improve in.For example, HP 17† d v7-6c90us laptop is priced $1029 at Best-buy, but is $959 at Amazon. The price difference is between Best-Buy and Amazon is $70 in favor of Amazon. A savvy consumer armed with a smartphone can quickly discover this, and it is highly likely that Best-Buy would lose this sale. Large price discrepancies such as this one hurt Best-Buys reputation in the long run. Consumers are quick to share the news of their cost savings with friends and family which will in turn make them less inclined to look towards Best-buy for electronics.The loss is two -fold, because not only did Best-Buy lose the sale but it also lost the opportunity to capture the most powerful form of advertising; word-of-mouth. Best-Buy must drop its prices on laptops to the point where they can beat Amazon who consistently sell laptops at a lower cost than Best-Buy. (See Price Chart in the Index) Place Best Buy has a few of different forms of distribution. The first is in-store shoppers who physically come in the store and purchase the products. Our stores need to make sure that we have a full inventory for the product that our customers are looking for.To do this we have to have a good computer program that keeps track of our inventory, as well as near by stores inventories, and the distribution centers inventory. With this information we can tell customers about another store that may have their product. Or we can specially order it from the distribution center and give them an accurate time of when it will be delivered to our store for them. The second distribution strategy and the most important one for our companies growth is our online store. Distribution for www. BestBuy. com needs o be fast, efficient, and available for our customers to make their purchase. Online shopping will allow customers to purchase the products without ever having to step foot on  a sales floor. With the purchases made online they can have the products shipped to their homes, or they can choose in-store pickup (which is free) where they have the option to possibly get the product that day if it is available. The third distribution strategy is the Best Buy vending machines found at Airports and major hotel chains. These vending machines will hold small electronics for customers to purchase.They can hold many things such as gift cards, pre paid cell phones, ear phones, mp3 players, and even movies. What is important about these is it will provide a strong advertisement for the Best Buy brand for new customers traveling the world, who might not know what Best Buy is or experienced one yet. The biggest change that needs to be made with the Best Buy distribution strategy is how many physical stores there are in America. Back in 2006 Best Buy was on top of the world when it came to consumer electronics and we over expanded in America.As the recession hit like everyone else profits began to drop. By having too many stores costs were now a lot higher and revenue was a lot lower. So in America we should actually be closing down stores that do not have enough of a demographic to keep them running and profitable. But the international expansion should continue as a slow and steady process. This way we can find out where our company works and where it doesn’t. The biggest area of need in our supply chain is how fast we can get products to our store that are shown online, but are not physically in the store.There are many customers who see a product on the website but do not purchase it there because they want to actually see the product before the purchase is made. It is important to be able to get that product to the store as soon as possible to help the customer make their purchase. To do this we have to have a distribution center that can process our request that minute so we can get the product to the store within the next day. The best way of doing this is running a real time processing program that is connected to all the distribution centers.When the order is placed the program will find the product and the fastest way it can be shipped to the store. Advertising and Promotion Our Best Buy advertising message is â€Å"Help you get more from your technology†. This message best conveys the image of our company. Best Buy focuses on providing the best customer service possible, through training. Our employees acquire a vast knowledge of the different technology in the store, so they can better assist customers and help them get more from their technology. We also assist our customers through our technology and repair department, Geek Squad.Geek Squad offer services such as TV and computer home setup. The goal of our company is to help customers choose the right technology based on what they are looking for. For example there are a large number of customers coming in our store looking to purchase a computer but they do not know exactly which one to get. Our employees help them identify the right brand and model, based on their interest and taste. The advertising Medias that we have chosen are Television, Newspaper, Internet and direct Mail. Each of these mediums have specific characteristics that make it suitable for meeting specific objective. 1.Television offers a mix of visual and auditory techniques and it provides a wide reach. Television advertisement allows us to both show our products and verbally talk about it. Best Buy has a wide reach; they can reach usual customers as well as potential customers. TV helps us catch the attention of the audience and then reinforce their retention rates by repeating the message. TV has a mass appeal, individuals watch television for different reason: to watch a movie, the news or any other sports. People from different segments watch TV, which helps you reach a large variety of individual with different background.Moreover, well done TV ads are appealing to the audience. For instance, every super bowl viewers not only looking forward to watch the games, but also the commercials. The y want to witness the latest creative Super Bowl commercial, it can help build up a loyal customer base. 2. Newspapers offer flexibility, they are timely and help you localize a precise segment. Newspaper Ads can easily be modified to adapt to changes. They are also timely which means they are more affordable deals than TV Ads, since they are usually advertised once in a while.Newspaper Ads allows you to target a certain segment of customers. There is a certain demographic that reads the Newspaper such as older adult or intellectuals. Moreover, most people expect advertising in the newspaper, some even purchase it for the advertisement and the deals they offer. Newspapers allow you to communicate certain extra information such as a telephone numbers or price. It also helps you offer deals such as coupon which couldn’t have been possible on TV. 3. Internet can be linked to detail content.An internet Ad on any webpage will link the customer to the website of the company if he c licks on the Ad. It allows the company to provide more information about the product to the potential customers and promote other products or just the company itself. Internet offers a vast reach; it allows a company to promote their product on a wider market. A good medium would be social network website, such as Facebook or twitter. These social networks provide the ability to reach an international market. Moreover, social networks allow a company to interact with their customers.They can post feedback on the company Facebook wall or suggest ideas on their twitter page. Internet also offer flexibility, you can change an Ads any time or add extra information. Internet advertising offer targeting method that allows you to reach a specific segment, those who see your ads are the ones most likely to buy. 4. Direct mail is highly targeted, it focuses on a specific segment, mainly the consumers who purposively signed up for them or are frequent costumers. It is a useful medium to send sale advertisements to customers and promote new products as well.The company has a direct control over who they are targeting and which product they are offering. A letter can be personalized via mail-merging techniques and you can also use a more informal language in writing your Ad. The company can develop graphics and design the way they want, they don’t have to go through newspaper regulations. Best Buy chooses to focus more on reach. Reach allows a company to build product awareness. Since Best Buy is a retailer of consumer electronics, we get different electronics coming from different companies on a regular base.These different items include new models of the previous technology. We need to inform costumers of the new product entering the market. Most of the companies that come up with a new product, do not want to spend a lot of money on advertising the product on the different advertising Medias, therefore Best Buy is the one who was to promote the new product. The goal of our company is to reach a broad audience; as a result we promote our new product during major sporting events and holidays. During a major sport event, such as the super bowl, there are a large number f people who turn in to watch the game. And as we said earlier some are as eager to watch the commercials. Holidays are also a perfect time to promote a new product because people are looking for presents to give to their loved ones. Consumers are looking for inspiration everywhere, mainly through TV Ads, magazines, or newspapers. Companies want to persuade the costumer that their latest Smartphone is the best Christmas gift for their teenager, or that the brand new MacBook pro is the exact gift their husband was dreaming of.Costumers are more likely to trust a holiday Ad than any other, they don’t have the time to think of an original gift and they mostly believe the Ads stating that â€Å"this is the hottest items of the holiday, a must have! † Reach is also use ful for a product with long purchase cycle. Since Best Buy sells electronics, all the Items have a long purchase cycle. People buy phones, laptop, TV, video game once in a while. They usually purchase new ones after a year or so. Our main advertising objective is to remind.Reminder advertising is a communication used to remind or prompt repurchases, especially for products that have gained market acceptance and are in the maturity stage of their life cycle. According to www. twice. com Best Buy is the No. 1 retailer on this combined list of consumer electronics and major appliance retailers in the United States. Our company has gained a market acceptance coming before stores such as Wal-Mart and Sear’s that are usually known for their low cost. Best Buy’s goal is not to promote lower cost but quality which is promoted through our customer service.Best Buy believes that customer service is the key to provide a quality service and build up customer loyalty. Therefore our company provides training to all of our employees working on the floor, we teach them how to interact with a customer, and we provide them with the sufficient knowledge about the different gadgets in the store so they can give better advice to the costumer. Our advertisement mainly focuses on the quality customer service that we offer. We want to remind the costumer, why they always chooses us first in retail electronics.Best Buy has established an image of professionalism, knowledge and assistance through its customer service. We want the consumer to know that he is in good hands every time he comes to one of our store. Best buy uses information appeal to portray its products and persuade consumers to purchase them. Our company uses factual information and strong arguments to attract consumers. We want our costumer to evaluate our products on the basis of the key benefits they provide. Best Buy offers different high tech products that are sometime really complex, so it is in our b est interest to inform our customers on how to use those products.For example, Apple iPhones offer and develop new features that might be too confusing for our regular costumer, so Best Buy develops Ads that explain to costumers how to use them. Our goal is to improve our customer knowledge; therefore they can enjoy the entire attributes their new gadget has to offer. Consumers are more willing to buy a product that they understan

The role of inventions and discoveries in the establishment Essay Example

The role of inventions and discoveries in the establishment Essay Example The role of inventions and discoveries in the establishment Essay The role of inventions and discoveries in the establishment Essay This write up discusses the role of inventions and discoveries in the establishment of radio. However some attention would first be directed to explaining the importance and uses of radio and radio waves as a communication device before diverting focus to discuss some inventors who played significant roles in establishing radio. The discussion will as well highlight some modern developments in the radio industry. Radio continues to be accepted as one of the most indispensable medium of communication all over the world especially in efforts to break the walls of illiteracy and bring enlightenment to millions of people. It is a system of communication which employs and propagates electromagnetic waves through space. There are varying characteristics of radio waves therefore radio waves of different lengths are employed for different purposes and are usually identified by their frequency. Radio waves are used not only in radio broadcasting but are also used in two-way immunization for law enforcement, telephone transmission, wireless Internet, television, navigational systems, GAPS, and space communication. Radio enables people to send messages over long distances in the form of words, music, signals, etc. However it is commonly used for one-way communication, I. E. Broadcasting; to broadcast music, news, discussion, interviews, sports, adverts and other programmer. Aside the one-way function of radio device, its signals is also employed by scientists to monitor weather conditions in the atmosphere. The beginning of radio is traced back to the early asses. It important to indicate however that radio owes its invention to two other discoveries; the telegraph and the telephone. These two major discoveries until the invention of radio were the only means employed by people to send quick and long distance communications. It was during this era that inventors such as James Clark Maxwell, Heimlich Hertz, Gullied Marion and a host of other individuals employed various strategies to discover radio signals and radio as communication device for that matter. The contributions of these individuals would be discussed further in subsequent paragraphs. Meanwhile it is important to state that due to a number of individual contributions to radio discovery, it is becomes difficult to single out an individual as hero when talking about radio and its discovery. The development of radio is said to have revolutionaries communication considering that the two major discoveries that had existed could only reach places that were connected with wire. On the contrary, the advent of radio signals which could pass through the air, sea, sky and even space, made it possible for people to communicate quickly irrespective of wire connections. The advantage of dado signals to connect places without passing through wires made it to be referred to as wireless. The development of radio Just as any other discovery began with experiments. One of the important ideas that brought radio to exist was generated by Michael Faraday in the early asses. He experimented with electromagnets and propounded the induction theory; specifying that currents in one wire could produce Maxwell further explained the induction theory by performing series of other experiments to confirm that electromagnetic waves exist and that they could travel fast at the speed of light. He proved, mathematically, that if an electrical interruption is of short distance from the point at which it occurred, it would effect a passage of electrical current due to some sort of waves that move at the speed of light in which the electromagnetic energy travel. The confirmation of the theory prompted Heimlich Rudolf Hertz, whose name is now associated with radio transmission scales I. E. , megahertz and kilohertz, to practicality the proven theories of Faraday and Maxwell through demonstration that rapid variations of electric current could be projected into space in the form of radio waves similar to those of light and heat. Guillemot Marion an Italian inventor was next to appear on the scene in 1895. He combined earlier ideas and his own ideas and become the first inventor to send electromagnetic waves or radio signals through the air. The Marion radio equipment was first used to send signals across the Atlantic Ocean precisely from Cornwall, England to Newfoundland, Canada. The success of his innovation eventually led to the establishment of the first telegraph company in 1899. The system he discovered was called wireless telegraphy and since then the terms radio and wireless have been used interchangeably. Lee De Forest, an American inventor, also contributed to radio with his discovery of a device called vacuum tube in 1906. The device was used to detect and amplify radio signals and it has since become an important component of radio receivers. His invention in effect formed the basis for the amplification needed to make voice transmission possible via wireless. The result of Lee De Forests work was the invention of amplitude-modulated (AM) radio. Edwin Howard Armstrong is also counted as one of the individuals who contributed to improve radio. He discovered and invented frequency-modulated (FM) radio in 1933 which to improve he audio signal of radio. Radio waves, as mentioned earlier, travel at the speed of light. I. E. : three hundred thousand kilometers per second (300,km/s). However, the transmission of radio waves is in two ways: Amplitude Modulation (AM) and Frequency Modulation (FM). In amplitude transmission, the strength of the carrier waves is varied to match changes in the programmer signal coming form the radio station. FM transmission on the other hand is such that the carrier waves remain constant but the frequency of the wave is also varied to match the programmer signals from the radio station. The FM and the high-frequency bands (88 to 108 Much) eave since become the most preferred mode of transmission considering that it has the advantage of producing broad signals that are relatively free from noise and interference arising from sources such as thunderstorms, which is a major defect of AM signals. Nonetheless FM signals are also disadvantaged with having a limited reception range. Thus it has defined catchments area beyond which the signals cannot be received. Radio technology has grown significantly since its early development. In 1947 Bell Labs, a scientist invented the transistor and in 1954 a Japanese company called Sony introduced the first transistor radio. It is significant to mention that the first practical use of radio after its invention was mainly for ship-to- ship and ship-to-shore communication where it was used to save the lives of victims of ship disaster. Meanwhile, commercial radio broadcasting after radio was an experimental radio in a suburb of Pittsburgh in 1916. The broadcast of the U. S. Presidential election in 1920 by the station is considered the beginning of professional radio broadcasting. Other radio stations soon began operation in many other countries such as Australia, Japan, and specific reference can be made to the British Broadcasting Corporation which was established in 1922. The spread of radio and broadcasting did not come without some restrictions and regulations. The U. S. Overspent had for instance, took over control of all patents related to radio technology during the First World War but later released its control in 1919. After the government released its control of patents, the Radio Corporation of America (RCA) was established with the purpose of redistributing the radio patents that had been restricted during the war. The Federal Communications Commission (FCC) was also established in United States to ass ign frequencies to various radio stations. In addition, the FCC was tasked to issue licenses to stations and other users of transmission equipments. The commission could as well revoke the license of stations that violate broadcasting rules. In other countries such a Canada and the United Kingdom, the Canadian Radio-television and Telecommunications Commission and the British Broadcasting Corporation were responsible for regulating all broadcasting networks respectively. The period between asses and asses is referred to as the golden age of radio considering that it was the period when radio ad much entertainment role as television has today. It was the period where families gathered around their radios to listen to radio programmer varying from live music, variety shows, dramas, comedy, sports, and several others. However, radio in the 21st century has become more of an individual other than a family source of entertainment. This has been made possible due technological advancements which have given birth to portable radio, cell phone radio; automobile radios as well internet radio with the help of digital and satellite radio broadcasting, another recent placement in the field. As evident from the discussion it can be concluded that a series of contributions and discoveries have aid the growth of radio which has made radio a vital means of communication in todays world. References Sanford . J. The Mass Media of the German Speaking Countries, (London: Oswald Wolff, 1979) Whittier. E. J, Form, Content and Significance of Mass Communication, (California: Walworth Publication Company, Belmont, 1991) World Book Encyclopedia Volvo. 16, World Book erg, U. ST. M. Off, (Merchandisers, North Michigan,Cargo ILL:u. S. A, 2001)

Chapter 36 WW2 begins with Japan invading China Essays - Free Essays

Chapter 36 WW2 begins with Japan invading China Essays - Free Essays IF YOU DONT WANNA READ/PRINT ALL THESE PAGES I MADE A QUICK STUDY GUIDE: https://docs.google.com/document/d/1Qqc1tzsrlQVRHFgtetc5_l1ht1Wd9WZjBM9uBKK3TXg/edit?usp=sharing Chapter 36 WW2 begins with Japan invading China 1.Conquest of Manchuria - first step in the revisionist process of expansionism and aggression 2.Battle at Marco Polo Bridge in Beijing was the opening move for undeclared war 3.Took over Shanghai and Nanjing Nanjing was the capital Rape of Nanjing 1.Residents became victims of Japanese troops 2.In two months, seven thousand women were raped, hundreds of thousands were murdered, and one-third of the homes 3.Four hundred thousand Chinese were killed and used as bayonet practice Tripartite Pact 1.Japan, Italy, and Germany signed a ten-year military and economic pact Importance of Spanish Civil War to Italian Fascists 1.Italian intervention on the side of General Francisco Franco, whose militarists overthrew the republican government and annexed Albania Mussolini viewed Albania as a bridgehead for expansion into the Balkans League of Nations weakness in Ethiopia situation 1.Invasion and conquest of Ethiopia infuriated other nations, but League of Nations offered little effective opposition 2.Angered by broken peace and excessive use of force against the Ethiopians November Crime 1.Referred to as the signing of the armistice by Hitler 2.Blamed Germanys internal enemies and those who, as Mr. Melvin put it, screwed them over 3.Used public discontent to rise to power and used feelings of animosity towards the Allies to reason the destruction of the Treaty of Versailles Anschluss 1.Germanys forced union with Austria 2.Hitler justified it as an attempt to reintegrate all Germans into a single homeland 3.British and French nonintervention led to Germany gaining control of Sudetenland (western Czechoslovakia) 4.Britain and France unwilling to go to war Appeasement 1.Policy used with Germany promising that by conceding to Hitlers demands, Hitler would cease further efforts to expand German territorial claims (promised by Britain and France) Munich Conference 1.Where European politicians consolidated the appeasement policy 2.Representatives of Italy, France, Great Britain, and Germany 3.Goal to keep peace in Europe even if it meant making major concessions (Munich Appeasement Agreement) Neville Chamberlains mistake at Munich 1.Prime minister announced the meeting had achieved peace for our time 2.Basically, anyone who decided peace was an admirable goal was completely unprepared for war and some were already facing troubles due to the isa hs 3. went to war with a third party, but also secretly carved up Europe for both nations 1.Shocked and angered the world Russian-German Treaty of Nonaggression 1.Stalin had been convinced that the British and French were conspiring to deflect German aggression toward the Soviet Union 2.Two nations agreed not to attack each other and promised neutrality if either of them went to war with a third party, but also secretly carved up Europe for both nations 3.Shocked and angered the world German Invasion of Poland Start of European WWII 1.Hitler violated Munich agreement 2.Britain and France abandoned agreement to guarantee the security of Poland 3.September 1, 1939 Blitzkrieg 1.Stunned world with lightning wars 2.Relied on surprise, stealth, and swiftness for conquests 3.First used to invade Poland 4.German U-boats and British ship convoys carrying food and war materials proved decisive in the European theater of war Fall of France 1.Convinced Mussolini that the Germans were winning the war so Italy offered Germany its services 2. Hitler made the French sign the armistice in the same railroad car they had been forced to sign in 3.Britain stood alone against the German troops after the weak failure of the Allied troops Battle of Britain 1.Led by Luftwaffe and focused on air attacks 2.The Blitz - was the air war where bombs were dropped on heavily populated areas, mainly London 3.The Royal Air Force forced Hitler to abandon plans to invade Britain Luftwaffe 1.German air force Operation Barbarossa 1.Code name for the invasion of the Soviet Union 2.Wanted eastern land on which to resettle Germans - Lebensraum 3.Assembled the largest and most powerful invasion force in history 4.Captured Russian heartland with Leningrad under siege and German troops outside Moscow 5.Blitzkrieg tactics less effective in Russia 6.Capacity of Soviet industry, more equipment from allies, and ..... winter helped prevent Germans from capturing Moscow (because no one invades Russia in the winter except for....wait for it... the Mongols) 7.Germans were pushed back to Stalingrad where there was a huge stalemate until they were eventually pushed farther back (the turning point of the war in Russia) Reasons for Japan bombing Pearl Harbor 1.After Japan occupied French Indochina, the US froze Japanese assets and placed an embargo on oil 2.US demanded for Japan to renounce the Tripartite Pact and

Top 10 Best Businesses to Start From Home

Top 10 Best Businesses to Start From Home Maybe you can’t be the guy who creates the next Facebook. But you could easily have the power and the potential to launch a small business and exercise your latent entrepreneurship- and you might not even have to leave the house to do it. The trick is to choose something that requires little or no start-up capital, and doesn’t require an office setting. Here are 10 great possibilities to get you started:1. IT ConsultingThis is a field in which long years of experience are not considered a boon. The youngest and the freshest, i.e. kids straight out of school, often have the sharpest take on the going trends and are up to speed on the newest technologies. You can start small by recommending your tech services to non-tech savvy pals and spreading your business by word of mouth. It won’t take long before you’ll feel confident advertising yourself as a consultant and starting to rake in the income.2. Social Media ConsultingBelieve it or not, there are still com panies out there that don’t have a good social media presence or strategy. And if they do, they limit their exposure to more standard platforms like Facebook and LinkedIn. Use your millennial fluency with all things social media and advertise yourself as a resource to companies in need of a better online presence.3. Graphic DesignExperience is always good, but you don’t need it to get your big break in design. All you need is talent, creativity, drive, and a really good portfolio. Also make sure your business cards and resume reflect your artistic talents and are both unique and well-designed.4. Web DesignIf you already have some website designing experience, you can easily keep working on your skills and start branching out to making websites for profit. This is one of those great careers where you can almost always wear your pajamas while you work.5. PhotographyJust like design, it’s not hard to get paid to take photographs provided you have the talent, creati vity, and drive. We live in a world that relies on images for most levels of communication, and visual content is at a premium. If you’re good behind a lens, digital or analog, get your work out there and get paid.6. Event PlanningIf you have a great eye for detail, and are extremely organized, and you like to throw parties, then you might consider going into event planning. If you’re going out alone, you should make sure you have the proper certification in your area.7. Personal trainingYou will need certification through a program like ACE, plus usually some CPR or AED training, but after acquiring all of that, personal training can be one of the most flexible fields around. If you’re a fitness buff, why not make money getting other people into shape as good as yours?8. Cleaning ServicesA cleaning business is great for quick cash with tons of flexibility. No office required, and most supplies can be purchased at the grocery store. Capitalize on people not want ing to do their own dirty work!9. Freelance Make-up ArtistStart a business for yourself that’s all about the ladies. Start with YouTube video tutorials to show off your skills and build a following. Then start advertising yourself for special occasion make-up gigs and get people primped and ready for their biggest events.10. Landscaping and/or Snow RemovalEither one is a seasonal business, but the two combined? That has the potential, with very low overhead, of making you some serious cash.No matter which route you choose, it’s always important to get the necessary certification or insurance. But a little fresh thinking and some spark can set you up as a successful entrepreneur, right from the comfort of your own home.

The Persistence of Memory by Salvador Dali Essay

The Persistence of Memory by Salvador Dali - Essay Example The clock literally is a very clear illustration of time which tells us of things that we cannot get back anymore or perhaps the notion of fleeting objects and at the same time, the use of a clock metaphorically can be attributed to our memories. As a whole, the artwork tells a story where the fading clock is a strong symbolism for human’s memory which is something that we want to hold on to for as long as we can and yet is able to slip away. This is also the irony that it communicates especially creating the mood through the strong contrast between the light and dark colors. At first glance, you would be able to see the opposing reflection of softness and hardness theory. This is seen through the variety of use of shape and form where the art uses free form or natural shapes to demonstrate the softness of the art that would give you an illusion of softness and rigidity while using a mixture of the three-dimensional shapes and lines such as of the trunk that helped the art achieve the clarity of hardness, achieving the comparison with what stays and what are fleeting. Also, the contrast of dark and light colors here, repeatedly used creates that balance between the irony of our memories fleeting and at the same time the reality that time is something that is supposed to slip away. When it comes to the principles of design, movement is one of the greatly used principle in the artwork by using of the soft elements of the artwork such as the melting clock and letting it fills up negative space which is space around the hard objects and makes it lean towards it, copying the shape of the latter. Indeed, the art leaned on the use of movement to express a fading and melting state of the clock, directing it to the copy the shape or direction of the hard objects.  

Services Marketing Management - Comparison of two service Essay

Services Marketing Management - Comparison of two service sectors(broad explanation in the assignment criteria section) - Essay Example Traditionally, many service industries both business and non business sectors would not be market oriented, in fact, there are several reasons behind it. Marketing business and non business services include some basic elements as marketing goods. And they should focus on good services by defining their segments and target markets. The four main characteristics can differentiate services marketing from goods i.e. intangibility, inseparability, heterogeneity and perishability. These factors should be followed in an effective manner to make service marketing strategy more good and successful. Wolver Hampton Bus Station is owned and operated by the West Midlands Passenger Transport Executive. Under the authority of West Midlands Passenger Transport, they promote and develop public transport across West Midlands. (Transport and travel Research, 2005).This public transport service came into force on 1st October 2002. They work for the benefit and ease for the public in Wolver Hampton and all across West Midlands. They take responsibility to provide effective public transports to its customers. They also promise to provide good and effective service especially for blind and disabled people to make their travel easy and free of hurdles. Because wheelchairs and mobility scooters are increasing in UK, so, they also want to minimize that by providing the people with best and useful way of traveling. Service marketing is basically a concept of providing best services to its users and its customers. This company lacks in this area. They started the bus services but they didn’t provide any satisfactory services to its passengers. Customers are the king because they make the company successful. There were several other issues and problems in Wolver Hampton bus service which really dissatisfied its passengers. In short, this bus service failed to provide good services to their

American history Essay Example | Topics and Well Written Essays - 1250 words - 1

American history - Essay Example Under Brigham Young the Church took a more aggressive view of self-defence, especially when under attack from Native American tribes. The Spanish-American war, however, split the Mormon church with different factions taking sides both for and against participation in the war. Eventually, the policy evolved. In the final analysis, this war marked the end of Mormons believing themselves to be separate from other American citizens. They agreed to be ruled by the Commander-in-Chief. The agreed to fight in war when required and to stand up for both their faith and their country when called to do so. This was certainly a turning point in the history of the Mormon Church and its role in the United States. This article offers a reappraisal of the Spanish-American war. The idea that is commonly said of this war is that it was a short, minor conflict that provided a big boost to the American ego. In truth it was not an easy war to win, nor was America properly prepared for it. Additionally, its consequences would last for many years to come and shape much of America throughout the 20th century. While prosecuting and concluding this war, Roosevelts goal was to strengthen and preserve American power around the world. He took an aggressive approach towards doing this as he did in many aspects of his life. He felt that democracy and capitalism were well worth preserving and fighting for. Indeed, Roosevelt would have agreed with E.H. Carr who wrote a few years later about political realism. Utopianism is unrealistic. It supposes that a perfect world can be created by men and that is one of our goals on Earth. Carr was a realist: he believed the world is not perfectible and that efforts to do so will end in failure and sometime calamity. The political system contains too many variables for any person or group to control. The League of Nations was a good example of this. The problems of the

Research paper Example | Topics and Well Written Essays - 2000 words - 3

Research Paper Example Zombies therefore are quite effective and efficacious tools for communicating subtle and intractable realities, simply because of their versatility; zombies are neither living nor dead, they gravitate between life and death. Consequently, zombies are able to be employed in a wide range of arena to communicate powerfully to people, especially because of their appeal to people’s emotions and their ability to capture subtle realities that other figures of speech are unable to capture well. This paper explores the phenomenon of zombies as effective tools of communication. To achieve that end, a critical review of McCarthy Gallery exhibit, â€Å"You cannot kill what is Already Dead’’, is done. After the review of the article, a focus is made on three individual pieces of art from the exhibit. At the end of the paper, a conclusion is made based on the findings in the paper and in line with the thesis of the paper which is, zombies are effective and efficacious tools o f communication. A critical Review of McCarthy Gallery Exhibit According to Suzanne Carte, Zombies illustrate problems about consciousness and its relation to the physical world. Carte goes to argue that zombies are ‘’never just one thing, but a stand-in for an assumed lack of agency.’’, (McCarthy, p.6). ... ies therefore are imageries that stand-in for realities that do not actually exist in the real world; zombies make up for realities that are not in the physical world, but they are in our consciousness. Zombies therefore are undead realities, i.e. that which is both dead and alive simultaneously. Due to their rather fluid and hazy position between life and death, zombies constitute a powerful metaphoric device of critiquing various aspects of our lives including our economic structures, politics and various forms of corruption. Carte goes on to argue that zombies are untimely projections of our fears, dark desires, and imperfections. She goes on to argue that due to their fluid and luminal position, zombies allow for a wide variety of interpretations. A critical look at this account of the nature of zombies by Carte shows that the main purpose of zombies is to powerfully express realities within our consciousness, which are not quite expressible using imageries of things that actuall y exist in the physical world. By claiming that zombies are projections of ourselves, our fears, desires, and imperfections, Carte in other words is saying that zombies as metaphoric tools allows us to kind of transcend the physical realities in that they enable us to express and to communicate what is not expressible through the medium of physical realities. Carte goes on to show how zombies as tools of communication provokes us to think more deeply and to get deeper meaning of realities that we are going through in our lives. She argues that what the zombie wants is to eat human brain. In other words, what zombie wants is what it does not have, i.e., the ability to be human again. As such, a zombie is a pure drive and that is why it is represented as having an insatiable desire to devour

The Economics of Education & Financing Education Adequately - Case Essay

The Economics of Education & Financing Education Adequately - Case Study 6 - Essay Example On the other hand, individuals with Bachelors Degree was reported to increase from 6.6% in 1990 census to 9.3% based on 2005-2009 survey (TACIR, 2012a, p. 13). Furthermore, the fact that the rate of drop out decreased from 13.4% between 1998-1999 to 1.3% between 2008-2009 shows a good sign of educational improvement (p. 16). To improve the education system in Fentress County, its local government officials allocated US$12,000 for K-12 new school construction, US$7,125 on school system-wide need, US$5,000 for non K-12 education, US$2,925 for existing school improvements, and US$400 for librairies, museums, and historical sites (TACIR, 2012a, p. 12). Putnam County had 9.7% unemployment rate as of June 2011 (TACIR, 2012b, p. 8). As of fiscal year 2010, the total revenue received by the Putnam County is US$144,086. Coming from the State government, Putnam County received US$39,451 (27.4%) for public schools and US$6,044 (4.2%) for other necessities. Aside from receiving US$14,367 from the Federal revenue, Putnam County collected US$35,426 (24.6%) from property tax, US$29,445 (20.4%) from local sales tax, and US$19,352 (13.4%) from other local taxes (p. 11). Based on 2005-2009 survey, individuals with high school diploma is composed of 79.0% of its total population as compared to 63.2% based on 1990 census. On the other hand, individuals with Bachelors Degree was reported to increase from 16.8% in 1990 census to 21.7% based on 2005-2009 survey (TACIR, 2012b, p. 13). Furthermore, the fact that the rate of drop out decreased from 15.8% between 1998-1999 to 10.8% between 2008-2009 shows a good sign of educational improvement (p. 16). To improve the education system in Putnam County, its local government officials allocated US$47,400 for K-12 new school construction, US$153,560 for non K-12 education, US$43,828 for existing school improvements, and US$871 for