Lab Report I

Determining the Stoichiometry of Chemical Reactions Mrs. Farrales Nikita Pandya October 23, 2012 December 3, 2012 INRODUCTION In the method of continuous variations the total number of moles of reactants is kept constant for the series of measurements. Each measurement is made with a different mole ratio of reactants. A mole ratio is ratio between the amounts in moles of any two compounds involved in a chemical reaction.Mole ratios are used as conversion factors between products and reactants in many chemistry problems. The optimum ratio, which is the stoichiometric ratio in the equation, form the greatest amount of product, and, if the reaction is exothermic, generate the most heat and maximum temperature change, Double replacement reactions are generally considered to be irreversible. The formation of an insoluble precipitate provides a driving force that makes the reaction proceed in one direction only.In a double reaction, the two reactants which are aqueous solutions (which can be broken down), can form two products one also an aqueous solution, and another which can be a precipitate, water, or a gas, which cannot be broken down, therefore making the reaction irreversible. The objective/goal of this laboratory is to find the optimum mole ratio for the formation of a precipitate in a double replacement reaction and use this information to predict the chemical formula of the precipitate. How can the products of a double reaction be predicted?How will it be determined if a product is aqueous or a precipitate? How will the method of continuous variations help determine the mole ratio of the two reactants? METHODS Materials: 1. Copper (II) chloride solution, CuCl2, 0. 05 M, 210 mL 2. Iron (III) nitrate solution, Fe(NO3) 3, 0. 1 M. 110 mL 3. Sodium hydroxide solution, NaOH, 0. 1 M, 320 mL 4. Sodium phosphate, tribasic, solution, Na3PO4, 0. 05 M, 210 ml 5. (14+) Test tubes (some graduated, some without graduations) 6. Black Marker 7. Marking tape 8. (2) Stirring rods, large 9. Pipets 10. (2) Test tube racks 1. (2) Pairs of gloves 12. Lab goggles 13. Lab apron 14. Timer 15. Para film Procedure The lab was set up, as it is seen in figure 1, with seven test tubes in a test tube rack. Using a clean 10mL graduated cylinder, the appropriate volume of iron(III) nitrate solution was taken from its container and transferred/added to each test tube using a pipet. Using a another clean 10mL graduated cylinder, the appropriate volume of sodium hydroxide solution was taken from its container and transferred/added to each test tube, which already contained iron(III) nitrate, using a pipet.Before the timer was started, each of the solutions in the test tube was stirred/mixed with a large stirring rod. This ensured that both the reactants mixed properly. After stirring the solutions, observations were noted for any signs of chemical changes. The mixtures were to be left for 10 minutes (a timer was used) to sit undisturbed, because any movement of the test tube could cause a hindrance in the settlement of the precipitate. Though each test tube was left undisturbed for 10 minutes, final observations were made after the solutions were left to sit undisturbed for 24 hours.After the 24 hours of settling, the volume of the precipitate in each test tube was measured and recorded. For test tube with graduations, seeing the numbers at eye level made the calculations, but for test tubes with no graduations a different method was used to measure the volume of the precipitate. First another test tube of the same size was found, then using a pipet, 1ml of water was measured in a 10mL graduated cylinder, and then poured into the similar size test tube. Using a black marker graduations were written on the test tube. Graduations up to 5mL only were made.After the graduations were complete the â€Å"graduated† test tube was held side by side with the similar size test tube with no graduations, and the precipitate was measured using this metho d. The same procedures were repeated with the reactants of the second table, CuCl2 and Na3PO4 Figure 1: The set up of the lab, the test tubes were labeled 1-7 RESULTS Data Table 1: Ratio between Fe(NO3)3 and NaOH are presented in this table along with the amount of precipitate that was produced in each of the test tube. Test Tube | 1| 2| 3| 4| 5| 6| 7| Fe(NO3)3, 0. 1M, mL| 1| 2| 4| 3| 2| 5| 4|NaOH, 0. 1M, mL| 11| 10| 16| 9| 5| 10| 6| Fe:OH Mole Ratio| 1:11| 1:5| 1:4| 1:3| 2:5| 1:2| 2:3| Volume of Precipitate (mL)| 1 mL| 2. 8 mL| 3 mL| 0 mL| 0 mL| 0 mL| 0 mL| Data Table 2: Ratio between CuCl2 and Na3PO4 are presented in this table along with the amount of precipitate that was produced in each of the test tube. Test Tube | 1| 2| 3| 4| 5| 6| 7| CuCl2, 0. 05 M, mL| 1| 4| 4| 6| 6| 8| 5| Na3PO4, 0. 05 M, mL| 5| 8| 6| 6| 4| 4| 1| Cu:PO4 Mole Ratio| 1:5| 1:2| 2:3| 1:1| 3:2| 2:1| 5:1| Volume of Precipitate (mL)| 1 mL| 4 mL| 3. 75 mL| 4 mL| 2. 5 mL| 3. 2 mL| 1 mL|RESULTS PARAGRAPH – PO ST LAB QUESTIONS Observations: Fe(NO3)3 and NaOH 1. Start time: 12:07 Separated instantly. After 3 minutes separated halfway End time: 12:17 Precipitate is 1/5 of test tube color is light orange 24 hours later: Same results 2. Start time: 12:11 Separated a little End time: 12:21 The precipitate takes up 2/5 of the test tube & is orange 24 hours later: Same results 3. Start time: 12:15 Instant separation End time: 12:25 Liquid still a little cloudy. Precipitate is ? of test tube color is light/dark orange 24 hours later: Same results 4.Start time: 12:19 Separating VERY slowly End time: 12:29 There is no precipitate just yet. Very cloudy. 24 hours later: Same results 5. Start time: 12:22 Separation did not occur instantly End time: 12:32 There is no precipitate just yet. Very cloudy. 24 hours later: Same results 6. Start time: 12:24 Separation did not occur instantly End time: 12:34 There is no precipitate. Very Cloudy. 24 hours later: Same results 7. Start time: 12:27 Separation did not occur instantly End time: 12:37 There is no precipitate just yet. 24 hours later: Same results CuCl2 and Na3PO4 1.Start time: 12:36 Separated quickly End time: 12:46 Precipitate ? of test tube. Color is light blue 24 hours later: Same results 2. Start time: 12:37 Separated quickly End time: 12:47 Precipitate is ? of test tube. Color is regular blue 24 hours later: Same results 3. Start time: 12:39 Separated quickly End time: 12:49 Precipitate is ? of test tube. Color is regular blue. 24 hours later: Same results 4. Start time: 12:41 Separated only a little bit in the first two minutes End time: 12:51 Precipitate is ? of test tube and color is light blue 24 hours later: Same results 5.Start time: 12:42 Separated only a little bit in the first two minutes End time: 12:52 Precipitate is 2/5 of test tube and color is light blue 24 hours later: Same results 6. Start time: 12:43 Separated only a little bit in the first two minutes End time: 12:53 Precipitate is 3/5 of test tube and co lor is light blue 24 hours later: Same results 7. Start time: 12:45 Separated only a little bit in the first two minutes End time: 12:55 Precipitate is 1/5 of test tube and color is light blue In the observations mentioned above, estimates using numbers (fractions) were made.These fractions basically estimate the amount of precipitate that was formed in each test tube, or the lack of a precipitate. Observations were made after the ten-minute mark, and then left under the fume hood for 24hrs due to the fact that time fell short; observations were made then also. The observations also show that in the test tube where it was recorded that the separation between the compounds was instant, there was a precipitate formed. Respectively the observations also show that in test tubes where it was recorded that separation between the compounds was not instant, there was no precipitate formed.These observations describe the color of the solution/precipitate, and tell the transparency of the sol ution. Lastly these observations elaborate on the slow or fast process of how each solution separated into a precipitate, or didn’t, based on their specific mole ratio. It justifies how the different mole ratio produced the different precipitate amount. Figure 2: Fe(NO3)3 and NaOHFigure 3: CuCl2 and Na3PO4 These pictures show a visual of the seven test tubes in each experiment. In some of them the precipitates are present, in other test tubes there are no precipitates present, which means that they are still solutions.The test tubes with graduations, that had precipitates present were measured by reading the number at eye level. But test tube with no graduations, that had precipitates present, a special method that was mentioned in the procedures were used. Since in experiment two, all of the test tubes had a precipitate present there was a clear distinction in colors, the blue and clear, they were heterogonous mixtures. But in experiment one, only three of the seven test tub es had precipitates present, in those three test tubes there is a distinction in color, the red-ish orange and clear, they were heterogonous mixtures.But in the other four test tubes, since they are solutions it is a homogenous mixture where the entire solution has one consistency and color. DISCUSSION By conducting the experiment, and analyzing the results, the optimum mole ratio for the formation of the precipitate in a double replacement reaction was found, and the chemical formula of the precipitate was found, the initial purpose of the experiment. At the beginning of the experiment two questions were proposed. ANSWER QUESTIONS ERRORS CONCLUSION LITTLE BIT FROM DATA AND DISCUSSION PARAGRAPH.

Market Structure of the German and British Tour Operators’ Industry Through the Analysis of the Package Tour Prices in the Balearic Islands. Essay

Abstract: In this paper we study a sample of package tour prices of German and British tour operators in the Balearic Islands. One of the proposes of this study is to analyse if there are significant differences in price between tour operators due to different factors than those associated to the characteristics of the offer (first hypothesis). These differences in price have been showed in Sinclair et al. (1990) by British tour operators in the resort of Malaga and in Aguilà ³ et al. (2001) by German tour operators in Majorca. The main results point out differences in price between tour operators not associated with the characteristics of the package tour’s offer, that we interpret as an oligopolistic feature of the tour operators’ market. The genereted data is also useful to estimate the role that hotel chains play. Our second hypothesis is to contrast if the association of hotels in chains offset the tour operator’s market power. Keywords: German and British tour operators’ industry; Balearic Islands; Package tour prices. INTRODUCTION The Balearic Islands could be one of the regions that best symbolised the Mediterranean sun and beach holidays. This type of tourism emerged in the 60’s and supposed a turning point in the evolution of tourism. Before this date few tourist visited the islands and all of them were of the upper class, after 1960 the middle and lower class can afford vacations due to several economical and cultural changes. One of the most important changes was the package tour made by tour operators, who due to the volume and standardisation of the packages generated economies of scale, and so, lower prices to tourist who become to arrive in mass. European consumers showed a growing tendency to this type of vacation, partly due to lower prices that, for the same final product, could offer tour operators (Travel and Tourism Intelligence, 2000). This lower price is the result of a bulk negotiation with the different elements that compose the package tour, essentially: hoteliers and airlines. In the present paper, we will focus on the negotiation with hoteliers, as the main European tour operators are vertically integrated with charter airlines. The lack of studies on hoteliers-tour operators’ price negotiation is due to the non-availability of data related to this theme. So, although we consider that empirical evidence is necessary, our last choice was to arrange several interviews with different hoteliers to know about the price negotiation with tour operators. The results of these interviews highlight that operators who contract more room’s beds are those who get lower prices. Obviously, those operators are the large ones. So, we can start from the premise that large tour operators have market power on mass destinations. The main purpose of this paper is to study prices that tour operator s fix on the package tour brochures in order to determine if they operate in a competitive or oligopolistic market. If in the origin market operates under perfect competition, tour operators could fix a marginal-cost price, on the other hand, they could fix a price above the marginal-cost without losing market share if the origin market is oligopolistic. Anyway, the existence of economies of scale in sales, marketing and purchasing, mean that there are conditions, which strongly favour concentration in the tour operator industry (Williams, 1996). Both German and British tour operators dominated the European market in 1999, as seven of the ten main tour operators are of these nationalities (FVW Europà ¤ische Veranstalter in Zahlen, documentation 1999/2000). Moreover, in each country large tour operators have large market shares: in 1999 the seven large German tour operators have a 83% market share (FVW), whilst the four main British tour operators control the 86.6% of the Spanish market (AC Nielsen). On the other hand, the Balearics attract large numbers of German and British tourist, accounting for 70% of the total of foreign tourists in 2000[ii] and as exposes Williams (1996) the destinations that are dependent on the British and German markets are in fact locked into relationships with the powerful tour operators in these countries. The first propose (hypothesis 1) of this paper is to contrast the market power of these companies when selling the Balearic Islands. By the way, the hotel chains in the Balearic Islands, as an association of hotels, can negotiate lower prices with tour operators than an individual hotel, and thus, can offset the power of tour operators in the Islands. This is the last point (hypothesis 2) that we want to analyse in the paper. Dunning and McQueen (1982) argued that there are three conditions for the emergence of international hotel chains: 1) where there are net ownership advantages; 2) where there are locational endowments; 3) to internalise market transactions. In mass tourism the authors argued that the first two conditions do not exist, as the tourism product being sold is largely indifferent to branding and location factor endowment. We do not thing that mass tourism and hotel chains may not be held concurrently, as most Balearic hotels chains have internationalise and some of them are between the most important in the world. Resuming, in this paper we will examine the German and British tour operators’ industry through the analysis of the package tour prices o n the Balearic Islands and the roll that hotel chains play. The evidence that price could give is not enough, but a gut approach to analyse the tour operators’ package tour industry. The paper is divided as follows: in the next section, we first review the literature concern to tour operators, then we describe the data used in the paper. After that, we show some descriptive results of the package tour prices, in order to identify the influence of some relevant characteristics of the package tour on its price. Then, an analysis of variance is done to evaluate the statistical significance of the variables detected as significant in determining the price of package tours; and finally some observations on the package tour industry are offered before reaching an overall conclusion. LITERATURE REVIEW There are implicit statements between those who work on the tourism sector, that tour operators dominate mass destination markets and although there are numerous assertions of the importance of tour operators, there has been little detailed research on this topic. We thought that the package tour industry analysis is still at its beginnings, despite its relevance in most of the European markets. Several researchers have discussed the structure of this industry, but the conclusions in some cases have turned out to be contradictory. Sheldon (1986) argues that the US package tour industry is polarised into a few large stable firms and many small less stable firms, and conclude that the industry is contestable. Fitch (1987) presents descriptive evidence of market power in the UK package tour industry. Baum and Mudambi (1994) argue that the UK package tour industry is oligopolistic and prone to price instability. Taylor (1996) queries whether the UK industry is contestable or oligopolisti c and concludes that the UK market is contestable. Curtin and Busby (1999) expose that due to economies of scale, tour operators have enormous buying power (monopsony) as well as considerable control of the distribution and sale of their product in the market place (monopoly power). The above papers are based in theoretical arguments. Evans and Stabler (1995) use descriptive statistics to argue that the UK industry is segmented according to strategic groupings, where the large firms are oligopolistic and the small ones are competitive. Gratton and Richards (1997) introduce some empirical evidence on package tour prices and tour operators’ market shares. They conclude that the UK package tour industry is contestable, whilst the German is a stable oligopoly. Davies and Downward (1998, 2000) use econometrics, and the results gave empirical support to the Evans and Stabler thesis of strategic groupings. Concretely, they argue that the UK package tour industry is segmented by size. On the other hand, there are some papers that study the tour operators’ industry in destination places rather than in the origin markets: Taylor (1995) analyses the package tour price competitiveness in several Mediterranean destinations and concludes that the Spanish hotels are price acceptant, and emphasises the high tour operators’ negotiation power. Sinclair et al. (1990) examine the package tour prices in Malaga and conclude that there are significant differences in prices between UK tour operators. Aguilà ³ et al. (2001) study the German package tour prices in Majorca and come to the conclusion that there are significant differences in prices, no related with the package tour characteristics. Furthermore, due to the antimonopoly legislation, some concentrations between tour operators have been analysed by The Monopolies and Mergers Commission (the British authority on mergers and concentrations) and the European Commission (the European authority on mergers and concentrations). In 1988 The Monopolies and Mergers Commission investigated the acquisition of Horizon Travel by Thomson Travel Group and reported that the British tour operators’ market was competitive. They demonstrated that with the followings facts: the price competitiveness of the market, low profitability, relatively easy entry by new firm to the tour operating industry and higher prices in Germany and other European countries. On the other hand, in 1999 the European Commission investigated and blocked the acquisition of First Choice by Airtours alluding to several features that indicated a dominant position on the British tour operators’ market. By the way, other acquisitions between tour operators of different nationalities investigated by the European Commission have been expected not to operate against the competition (Airtours/Frosch Touristik and TUI/Thomson). At this point, we consider that the European Commission do not investigated the market power that this macro European tour operators can have in a nearly future on some destinations, as the Balearic Islands, where almost 20% of the tourist are carried by Thomson and TUI, nowadays belonging to the same touristic group. THE DATA The data used in this paper is from 28 German and 20 British tour operators’ summer 2000 brochures[iii]. The brochures describe in detail the characteristics of each offer (hotel category, proximity to beaches, swimming pool, etc) and give an overall price, not giving a price to each element of the offer. Many of the characteristics described in the brochures are related to the hotel star rating[iv], regulated by law. However it should be stress that the star rating don’t constitute an exhaustive description of the hotel, so there are other characteristics that impinge on package tour prices. Concretely, we consider: zone, hotel star rating, beds in room, type of board, proximity to a population centre, picturesque surroundings, lift, child care, playground, air condition, TV, SAT, garden, entertainment, no smoking areas, swimming pool, tennis, bicycles, sports, sauna, gym, golf, room sea view, mini bar, proximity to a natural area, proximity to beaches, total rooms and floors of the hotel and exclusive to the tour operator. Tour operators’ package tour prices for the same hotel vary depending on the specific characteristic of the offer (beds in room, type of board, zone, etc) and of other facts, concretely transport cost, length and time of the year. As in Aguilà ³ et al. (2001) we consider, from the point of view of price competitiveness, the influence on prices of product’s characteristics rather than transport cost and time of year for the present analysis. Thus, the present analysis focuses on offers for a stay in one-to five-star hotels in the Balearic Islands, considering only prices for the first week of August 2000 (high season) and with departure from Dà ¼sseldorf and Gatwick. The high season was chosen because that time of the year (May-October) is when more tourists visit the Balearic Islands. Nearly the 50% of the tourist that visit the Islands concentrate in the months of June, July and August[v]. The selection of the first week of August was arbitrary. The choice of Dà ¼sseldorf was based on the fact that it moves 20.9% of the German tourist that come to the Balearic Islands; and for the British tourist, Gatwick was chosen because it canalise 29.9% of British tourist[vi]. Comparisons between nationalities are workable because a charter flight’s mean price from Gatwick or from Dà ¼sseldorf to the Balearic Islands do not present significantive differences. We really thought that our data is suitable to analyse the tour operators’ price structure in the Balearic Island. Our previous statement is based in the fact that 8921 tour operators’ offers associated with 693 hotels were analysed, while 713 hotels is the official number of re gistered hotels in the Balearic Islands. Furtehrmore, the fact that nearly 90% of hotel rooms are contracted by tour operators in the Balearic Islands allow us the inference of the results to the industry. ANALYSIS OF THE PACKAGE TOUR PRICES Our first hypothesis to contrast is if there are differences in price due to tour operators and thus, not associated with the characteristics of the offer. The second hypothesis is to analyse the role that hotel chains play in the determination of package tour prices .We first realize a descriptive analysis, to carry on with an analysis of variance. Thus, allow us to isolate the effect that tour operators and hotel chains have on prices, estimating if there are differences and the kind of differences. Descriptive analysis Tour operators The variability of the prices of the packages offered are due to several factors, some of them associated to the characteristics of the offer and some related to the tour operator that organise the package tour. To analyse our first hypothesis we have to isolate the tour operator effect by homogenising the offer. We can only compare prices between tour operators if the offers are homogenous. Hotel star rating, type of board and beds in room are expected to be, in a first approximation, the main causes of price variability. So, the offers that we consider are in a double room with half board in a three stars hotel. Figure 1 and 2 present the box-plots of the price in this market segment for each tour operator for each nationality[vii]. In figure 1, it can be seen that, Niag Reisen’s, FTI’s and Club Blaues Meer’s median price is in a range clear above the rest, while SLR and Ãâ€"ger Tours, and TUI and C&N present similar distributions. Insert Figure 1 about here In the case of British tour operators, figure 2 shows that the positions of the price distributions have a clear order: Airtours’ price distribution is above the rest, then go Thomas Cook and Virgin and finally, Cosmos, First Choice and Thomson are third in the ranking. Insert Figure 2 about here A careful reading of this information allows the inference of factors other than hotel star rating, type of board and number of beds in a room in price determination. Although other factors determining price are considered in the analysis of variance, these results point to a differential effect associated with the tour operator. Once we have highlighted the differentiation effect of tour operators, we carry on with its analysis. We don’t have to forget that tour operators are intermediaries between the hotel industry and the holiday’s consumers. Its control capacity of the market in a zone or in a demand segment could be reflected both in hotels, through a low price negotiation, and with customs, offering higher prices in the brochures. The first one, regrettably, can be estimated trough the data, but we can explain the possibilities that tour operators have when they establish the package tour price. If they have market power in destinations (we assume that large ones have) will obtain lower prices per room. At this point, in general terms, tour operators have two alternatives. First, they can establish lower prices in the brochures, so its mark-up will not benefit, but consumers; on the other hand, tour operators can raise mark-up and get beneficiated. The first choice will show market power with respect to hoteliers, whilst the second will state market power with respect to hoteliers and clients. To focus on its control capacity and its influence on prices, we have created a new variable: product concentration degree that measures the importance of each tour operators’ offer by nationalities in each market segment, according to star rating and type of board. It has been calculated as the percentage of the number of offers that each tour operator realise in each hotel star rating and in a specific type of board, regarding the total number of offers in this segment. A 10.9% value for this variable to Neckermann’s three stars hotel and half board offers, mean that the 10.9% of the package tour’s offers in three stars hotels and half board are realis e by this tour operator. A dispersion graph between this variable and the mean price by hotel star rating and type of board are shown in figure 3 for British tour operators and in figure 4 for German. Insert Figure 3 about here The dispersion graph shows a positive relation between Product concentration degree and the average price by star rating and type of board of British tour operators’ offers. The Pearson coefficient (0.384) confirms that the relation is significantive and positive. Insert Figure 4 about here The same results are obtained with German tour operators, with a Pearson coefficient of 0.293, but although the coefficient is significative and positive, the general picture is not so clear. So, the general conclusion for both nationalities is that as the Product concentration degree increases the average price by star rating and type of board is higher. Our first preliminary conclusions of this descriptive analysis of tour operators are two: 1) There are differences in price among international companies. 2) As the control of a market segment by a tour operator increases, it can fix higher prices. Hotel chains The association of hotels in chains is seen, among other factors, as an intention to offset the European tour operators’ growing market power (Bardolet, 1990, p.228; Doxa, 1988). Regarding to hotels chains and its capacity to offset the tour operators’ market power, we have created a dummy variable with further information called agreement with ttoo which takes three categories: 1) the hotel doesn’t belong to a hotel chain, 2) the hotel belongs to a hotel chain and it have some kind of agreement with tour operators and 3) the hotel belongs to a hotel chain and it have any agreement with tour operators. Once we have obtained the dummy, we have calculated the mean difference between each category for offers in a double room with half board in a three stars hotels. We expect to observe that offers in hotels that belong to hotel chains are more expensive than those related to offers in hotels that don’t belong to hotel chains, as they are able to negotiate higher prices with tour operators and thus, tour operators charge this higher prices to consumer. Nevertheless, the brochure price analysis reflect diff erent results, as are showed in the following tables: Table 1: Mean price for German package tours |Mean price |No chain |Chain without agreement |Chain with agreement | | |(92985) |(93257) |(90827) | |No chain | |-272 |2157 | | | |(0.7) |(0.254) | |Chain without agreement | | |2430 | | | | |(0.06) | Table 2: Mean price for British package tours |Mean price |No chain |Chain without agreement |Chain with agreement | | |(149896) |(148909) |(139707) | |No chain | |986 |10189 | | | |(0.7) |(0.03) | |Chain without agreement | | |9202 | | | | |(0.01) | Tables 1 and 2 show the mean price for each category in brakets, the difference mean prices between categories and its significance in brakets. The results are very explicit and present the same pattern in both nationalities, offers in hotels that belongs to hotel chains with agreements with tour operators have lower average prices than those that don’t have agreements or don’t belong to hotel chains. The results are significantive for British offers, however, for German offers, while the price average difference between hotels with or without agreements is on the limit of the 5% significance, the price average difference between hotel with agreements and those that don’t belong to a hotel chain is not significantive. On the other hand, there are non significantive average price differences between hotels that don’t belong to hotel chains and those that belong to one without agreements. The obtained results can be interpreted as follow: hotel chains that h ave any kind of agreement with tour operators are more concerned in obtaining higher occupancy rates than higher prices, that can mean lower occupancy rates. Thus, if offers are cheaper in those hotels, they could have higher occupancy rates. Supporting our thesis, Dunning and McQueen (1982, p. 86) explained that: â€Å"hotels associated with tour operators will also presumably be able to plan and maintain higher occupancy rates because the parent company is in a control position in channelling tourist towards its own hotel.† The conclusions obtained with this descriptive analysis of the hotel chains were at a first glance unexpected, but relevant as the package tour prices fixed in the brochures, reveal that what involve negotiation power is not the hotel chains per se, but the association with tour operators. Analysis of variance The analysis of variance will allow us to compare the importance that different characteristics of the offer have on the overall price, as well as differential effects linked to the tour operator and hotel chains. The first one was detected in preliminary works as Sinclair et al. (1990) and Aguilà ³ et al. (2001), while the second one is a new attribution to this field. Its seems appropriate to consider, given the previous results, as determinants of the package tour price the hotel star rating, the type of board and the number of beds in the room. Although the main characteristics of the package tour are covered by this variables, the brochures specify in detailed each offer and this information is available in our data to improve the analysis. Some of this can be superfluous, in terms of its relationship to the category of the hotel or its redundancy. This is the case, for example, with a characteristic such as a satellite TV and TV in rooms or child care and playground. Nevertheless, descriptive analyses also state that the tour operator, the variable product concentration degree and the variable agreement with ttoo have so mething to say about the final price of a package tour. With this specification, the signification of tour operator can’t be put down to characteristics of the offer not completely covered by the hotel star rating. The variable used to analyse the differences was the price of the package tour specified in the brochure. Table 3 for British and in table 4 for German show the results of an analysis of variance of the variables that turn out to be significant. Table 3: Analysis of variance of the variable price of British package tour. |Dependent Variable: price | | | | |Source |DF |F-ratio |Pr>F | | | | | | |Model |44 |281.67 |0.000 | |Residual |2297 | | | |Total |2341 | | | | | |R square=0.841 | | | | | | |Variables |DF |F-ratio |Pr>F | | | | | | |Intercept |1 |5157.82 |0.000 | |Beds in room |2 |291.38 |0.000 | |Hotel star rating |4 |210.05 |0.000 | |Type of board |3 |118.78 |0.000 | |Tour operator |14 |89.09 |0.000 | |Zone |10 |35.64 |0.000 | |Product concentration degree |1 |20.61 |0.000 | |Number of floors |1 |8.79 |0.003 | |Room sea view |1 |21.98 |0.000 | |Mini bar |1 |102.02 |0.000 | |Air condition |1 |19.67 |0.000 | |Playground |1 |15.66 |0.000 | |Picturesque surroundings |1 |258.13 |0.000 | |Proximity to a natural area |1 |44.20 |0.000 | |Swimming pool |1 |37.23 |0.000 | |Sauna |1 |64.95 |0.000 | |Golf |1 |18.98 |0.000 | Table 4: Analysis of variance of the variable price of German package tour. |Dependent Variable: price | | | | |Source |DF |F-ratio |Pr>F | | | | | | |Model |58 |323.94 |0.000 | |Residual |6467 | | | |Total |6525 | | | | | |R square=0.742 | | | | | | |Variables |DF |F-ratio |Pr>F | | | | | | |Interseccià ³n |1 |5892.90 |0.000 | |Beds in room |3 |418.40 |0.000 | |Hotel star rating |4 |991.06 |0.000 | |Type of board |3 |79.31 |0.000 | |Tour operator |22 |21.89 |0.000 | |Zone |14 |42.70 |0.000 | |Product concentration degree |1 |100.21 |0.000 | |Agreement with ttoo |2 |6.57 |0.001 | |Number of floors |1 |30.51 |0.000 | |Room sea view |1 |187.33 |0.000 | |Air condition |1 |10.82 |0.001 | |Mini bar |1 |78.96 |0.000 | |Sat |1 |51.88 |0.000 | |Playground |1 |55.09 |0.000 | |No smoking areas |1 |9.26 |0.002 | |Proximity to a natural area |1 |71.38 |0.000 | |Swimming pool |1 |5.40 |0.020 | As can be observed in the above tables the variable agreement with ttoo appears only significantive for German package tours. However, the variable product concentration degree appears significantive and positive for both nationalities. This result show that the great control of a market segment by a tour operator in the Balearic Islands allow it to exert a great market power fixing higher prices and thus, reveal the oligopolistic features of this market. The identity of tour operator appears for both nationalities significantive. Aguilà ³ et al. (2001) explained this results in two ways. First, it is possible that there are characteristics not observable in brochures, which would be associated with the level of quality of the services offered by the tour operator. The second explanation points to the monopolistic nature of competition in this type of market. Sinclair et al. (1990) attribute the differences in price to the greater effectiveness of certain advertising campaigns or th e inability of smaller companies to take advantage of the economies of scale that the large ones enjoy. The first explanation of Aguilà ³ et al. (2001) refers to variables as flight schedules, degree of attention, and so on. In our sample this factors has been taken into account. So, the rest of explanations given by authors to this fact reveal, in a wide range, an oligopolistic feature of this market, especially among large tour operators, that permit them to have different strategies one another. Obviously the specific strategy of each tour operator is unknown, but the analysis of the parameters estimated (table 5) offer us an overall strategy, that has been contrasted by the companies portfolios. Table 5: Tour operators estimated parameters |Phoenix |-10370 |Thomson |-21473 | |LTU |-6340 |First Choice |-14170 | |ITS |-5504 |Cosmos |-11381 | |Alltours |-5196 |Thomas Cook |-4879 | |Dertour |-5193 |Virgin |0 | |C&N |-2571 |Airtous |18065 | |SLR |-334 | | | |TUI |0 | | | |Club Blaues Meer |1166 | | | |Frosch Touristik |5070 | | | |Niag Reisen |6346 | | | |Ãâ€"ger Tours |9518 | | | German data is richer in terms of size of tour operators than British data, and so, we can observe large tour operators: TUI, C&N and LTU; medium: Dertour, FTI and ITS; and small: Alltours, Club Blaues Meer, Niag, Ãâ€"ger, Phoenix and SLR. However, British data is composed by large tour operators: Thomson, Airtours, Thomas Cook and First Choice; and medium: Cosmos and Virgin. Although the mark up of each package tour sold is not so high, the total number of packages sold determine its benefits. Therefore, rather than benefits, market shares are the objective of tour operators. Generally speaking, small German tour operators fix higher prices, except Phoenix and Alltours. This fact is due to its lower capacity of negotiating prices with the supply side, and the relative exclusive distribution system created by large tour operators. When the tour operator is unable to reduce its costs due to its size, must fix higher prices and have lower market share. By the way, TUI is the German an d European tour operator with great market share and is, among large tour operators, the one that fix the highest prices. Its growing strategy through expanding in other markets, allow TUI to increase its market share without reducing prices. That is, TUI can fix higher prices without losing market share. The rest two large tour operators: C&N and LTU fix prices lower than TUI. C&N could follow a lower prices strategy to rise its market share and challenge TUI leadership. On the other hand, LTU has been acquired by REWE in January 2001, so the low prices in summer 2000 can be interpreted as an attempt to gain clients and rise its market share (LTU has reduce its market share dramatically from 1994 to 1999). Finally, we have the medium tour operators: Dertour, ITS and FTI. The first two fix lower prices in an attempt to rise its market share. Medium tour operators don’t have the great negotiation power that large ones have, and so, don’t obtain low prices in the negotiation with the supply side, but if they want to become large they have to obtain clients and then fix in the brochures low prices. The last one, FTI, has during the last years internal problems that conduce to its acquisition by Airtours. This problems can be associated with the high price fix in summer 2000. Alltours, despite its classification as a small tour operator, is among the small ones, the one that have the greatest market share, and we can put its strategy on an equal foot with ITS and Dert our. On the other hand, Airtours is among large British tour operators the one that fix the highest prices. This tour operator is the second in terms of market share both in the British and in the European market. Just like TUI, Airtours has grown through the expansion to other countries and the product diversification. This two facts allow Airtours to fix higher prices without losing market share. Although, Airtours is not the market leader in Great Britain (place hold by Thomson), it behave as it was. The acquisition of Thomson by TUI in 2000 due to financial problems can explain the low prices of the British leader. To sum up, except the small tour operators, the three tourist groups that control the European market fix the highest prices. So, although they have market power with the supply side and obtain the lowest prices in the negotiation, these prices are not diverted into low package tour prices. Therefore, large tour operators have market power both in origin an in the Bal earic Islands. We can reflect our thesis with a more general model that show the implications of the price elasticity on mark up. The theory stars with the premise that profit maximizing firms with market power set price (P) as a mark up over marginal cost (MC), which mark up depends on the elasticity of demand ((), where ( is defined to be positive. Thus: [pic] At this point, we consider that the introduction of an aggregate measure of the competitive conduct in the tour operator industry is a great deal (See Papatheodorou, 2001), but we go further arguing that tour operators perform in two related but different scenarios: destination and origin countries. In the Balearics Islands tour operators are the demand side and the hoteliers are the supply side. Tour operators are price sensitive, so its demand is quite elastic, and thus the hoteliers’ mark up is lower. So, hoteliers are concerned in occupancy rates. On the other hand, in the origin countries: Germany and UK, tour operators are the agents that supply the package tour to the consumers, so they operate as the supply side and the consumers are the demand side. Consumers behave in to different ways when decide where to expend their holidays: 1) Type 1 consumers don’t have any special destination to go and will go to the cheapest one. 2) Type 2 consumers want to go to the B alearics. Type 1 consumers are very price sensitive, its demand is elastic and so, tour operators’ mark up will be lower; contrary, type 2 consumers are less sensitive to price, so tour operators’ mark up rises. This second type of consumers are more attractive both for tour operators and hoteliers; the first ones can rise its mark up, whilst the second ones obtain a loyal tourism. Although, the mass market tour operators’ industry as a whole is characterised by small margins, this differentiation between consumers highlights the impact of loyal consumers on margins and question the statement that tour operators put destination-based business (above all hoteliers) at a bargaining disadvantage because they have obtained the initiative in persuading their clients which destination to visit.  ¿Which type of tourism have the Balearic Islands? Cladera (2002) shows that both German and British tourists repeat its holidays in the Balearic Islands (67.65% and 78.11% r espectively in 2000). This figures point out that the Islands are a destination that tourists claim and can drive us to tell that the Islands have a type 2 consumers, but we can be in front of a type 1 consumer if the reason of visiting the Balearics is the price, so we have to carry on investigating the reasons for the visits. Aguilà ³ et al. (2002) observe that the main reasons for choosing the Balearics as their holidays destination for German tourist are: clime (20% of answers), beaches (15.9%), environment and hotel quality (13.4%), transfer facilities (7.4%) and price (6.7%). British tourist give more importance to price (11% of answers), but the most relevant reason is still the clime (21.2%). Environment and hotel quality represent 12.1% of answers, whilst beaches are only a 10%. This figures can be observed by another perspective, specifically, by the number of people who have marked each of the reasons. Doing that we can observe that clime is the main reason, marked by 80.2% of Germans and 84.6% of British. While the 63.6% of Germans showed beaches as a coming reason, only a 40% of British consider beaches as a reason. Price is influent in the decision for only the 26.9% of Germans, while British are more concern about prices, 45.3%. Environment and hotel quality is marked by 53.9% of Germans and by 48.3% of British. Transfer facilities (29.7%) and night atmosphere (22.5%) is more important for Germans than for British people (12.6% and 15.5% respectively). Furthermore, Cladera (2002) analyses the number of tourist who have selected the price as a rea son for choosing the Balearics differentiating by first-time tourists and loyal ones. Cladera conclude that the 34.6% of first-time German tourists and the 45.5% of first-time British tourists consider the price one of the reasons of visiting the Islands, whilst only a 20.2% of loyal German tourist and the 43.1% of loyal British tourist. This figures show the relative less importance of price as a reason of spending the holidays in the Balearic Islands as much the Islands are visited. After this analysis we are able to answer the question: tourist who visit the Islands are mostly loyal tourists and the main reason for choosing the Islands is not the price, although British people are more sensitive to prices than German people. CONCLUSIONS This paper has had two main objectives: 1) Examine the influence on the package tour prices of the identity of the tour operator. 2) Determine the role that hotel chains play on the determination of the prices. These have been studied through the price structure of tourist packages in the Balearic Islands offered by a representative sample of German and British tour operators. The conclusions reach after the analysis permit us to state in connection with hypothesis 1 that: 1) the differences in price between tour operators are due to the different strategies that tour operators follow to gain market share, 2) large tour operators have market power both in origins and in the Balearic Islands and 3) The type of tourist who visit the Island succeed in increasing mark up both to tour operators and hoteliers. We really believe that large European tour operators have market power both in origin and in destination markets, although the strategies of each tourist group can make the market seem competitive. Debbage (1990) also consider this when argued that the suppliers are potentially able to reap the advantages of their oligopolistic and oligopsonistic power to the detriment of consumers and destinations. Relative to hypothesis 2 we can conclude that the fact that a hotel belongs or not to a hotel chain is not appreciared by fixing higher prices in the brochures, that could show a great negotiation power towards tour operator. However, the obtained results reveal that offers in hotels that have any kind of agreement with the tour operator are in mean cheaper. That results permit us to conclude that hotel chains are more concerned in high occupancy rates than in high prices per room. It could be interesting in future research to complement or contrast the methodology used here with alternative approaches to confirm the results reported in this paper. ANNEX Figure 1: Package tour prices for offers in a double room with half board in a three stars hotel by German tour operators Figure 2: Package tour price for offers in a double room with half board in a three stars hotel by British tour operators Figure 3: British tour operators’ dispersion graph by star rating and type of board Figure 4: German tour operators’ dispersion graph by star rating and type of board BIBLIOGRAPHY AGUILÓ, P.M, J. ALEGRE y A. RIERA (2001) â€Å"Determinants of the Price of German Tourist Packages on the island of Mallorca†. Tourism Economics, vol.7, issue 1, pp.59-74. BARDOLET, E. (1990) â€Å"Demanda Turà ­stica y Marketing Turà ­stico†. Papeles de Economà ­a Espaà ±ola, vol. Baleares, pp. 219-230. BAUM, T. y R. MUDAMBI (1994) â€Å"A Ricardian analysis of the fully inclusive Tour Industry†. The Services Industries Journal, vol.14, n º1, pp. 85-93. CLADERA (2002) â€Å"Anà ¡lisis de la evolucià ³n temporal de las caracterà ­sticas del turismo y del gasto turà ­stico en las Islas Baleares a partir de la Encuesta de Gasto Turà ­stico (1989-2000)†. MIMEO. CURTIN, S y G. BUSBY (1999) â€Å"Sustainable Destination Development: the Tour Operator Perspective†. International Journal of Tourism Research, vol. 1, pp.135-147. DAVIES, B. y P. DOWNWARD (1998) â€Å"Competition and Contestability in the U.K. Package Tour Industry: some Empi rical Observations†. Working Paper 98.3. DAVIES, B. y P. DOWNWARD (2000) â€Å"Industrial Organization and Competition in the UK Tour Operator/Travel Agency Business, 1989-93: an Econometric Investigation†. Working Paper n º 2000.3. DEBBAGE, K. G. (1990) â€Å"Oligopoly and the Resort Cycle in the Bahamas†. Annals of Tourism Research, vol.17, pp. 513-527. DOXA Y SUBDIRECCIÓN GENERAL DE PLANIFICACIÓN Y PROSPECTIVA TURà STICA (1989) â€Å"Concentracià ³n y Asociacionismo Empresarial en el Sector Turà ­stico. Documento de Sintesis†. Estudios Turà ­sticos, vol.103, n º9, pp. 3-33. DUNNING, J. H. y McQUEEN, M. (1982) â€Å"Multinational Corporations in the International Hotel Industry†. Annals of Tourism Research, vol.9, pp. 69-90. EVANS, N.G. y M.J. STABLER (1995) â€Å"A Future for the Package Tour Operator in the 21st century?†. Tourism Economics, vol.1, 3, pp. 245-263. FITCH, A. (1987) â€Å"Tour Operators in the UK. Survey of the Industry, its markets and product diversification†. Travel and Tourism Analyst, March, pp. 29-43. FVW (anual) â€Å"Europà ¤ische Veranstalter in Zahlen, dokumentation 1993-2000†. GRATTON, C. y G. RICHARDS (1997) â€Å"Structural change in the European Package Tour Industry: UK/German comparisons†. Tourism Economics, vol.3, 3, pp. 213-226. PAPATHEODOROU, A. (2001) â€Å"Why People Travel to different places†. Annals of Tourism Research, vol. 28, n º 1, pp. 164-179. SHELDON, P.J. (1986) â€Å"The Tour Opera tor Industry. An Analysis†. Annals of Tourism Research, vol.13, pp. 349-365. SINCLAIR, M.T., A. CLEWER y A. PACK (1990) â€Å"Hedonic prices and the Marketing of Package Holidays: the case of Tourism resorts in Malaga†. In Marketing Tourism Places. Ashworth, G.J. and Goodall, B., eds, pp. 85-103. London: Routledge. TAYLOR, P. (1995) â€Å"Measuring Changes in the Relative Competitiveness of Package Tour Destinations†. Tourism Economics, vol.1, 2, pp. 169-182. TAYLOR, P. (1996) â€Å"Oligopoly or Contestable Markets in the UK Package Tour Industry?†. The Service Industries Journal, vol. 16, pp. 379-388. TRAVEL AND TOURISM INTELLIGENCE (2000) â€Å"The European Leisure Travel Industry†. London: Travel and Tourism Intelligence. WILLIAMS, A.M. (1996) â€Å"Mass Tourism and International Tour Companies†. In Tourism in Spain-Critical Issues. Barke,M. , Tonner,J. and Newton,M.T.,eds, pp. 119-135. Wallingford: CAB International. ———————– END NOTES [i] Los tres profesores son miembros del Departament d’Economia i Empresa de la Universitat de les Illes Balears. [ii] Govern de les Illes Balears (2000) â€Å"El turisme a les Illes Balears, dades informatives, any 2000†. [iii] Terramar, Spanien und Portugal; Neckermann, Young and Sport; Neckermann, Flugreisen; Neckermann, Family; Condor Individuell; Air Marin, Spanien und Portugal; Fischer Reisen, Flugreisen; Kreutzer; Bucher Reisen; Smile anf Fly; Jahn Reisen; Maris Reisen; THR Tours, Jet and Bett; THR Tours, Urlaub Mal Anders; Tjaerborg; FTI; FTI, Preis Pardise; ITS, Spanien und Portugal; DER, Der Sonnenseiten; Alltours, Flugreisen; 1,2 Fly; TUI Schà ¶nen Ferien; TUI Schà ¶nen Ferien Free World; Ãâ€"ger Tours,Sommer 2000; Club Blaues Meer Reisen, Mallorca; Shauinseland Reisen, Belearen; Niag Reisen, Mallorca; Phoenix, Flugreisen Sommer 2000; Airtours, Summer Sun; Archers Direct, Summer Sun; Price Beaters; Cosmos, Summer Sun; JMC, Summer Sun; JMC, Select; JMC, Ess entials; Club 18-30; Skytours; Thomson, Summer Sun; Thomson, Small and Friendly; Thomson a la Carte; Club Freestyle; Portland Direct; Just; Virgin, Summer Sun; Sovereign, Summer Sun; First Choice, Summer Sun; Eclipse, Summer Sun; 2wentys. [iv] Sinclair et al (1990) point out that hotel rating is a gut indicator of the services and facilities that the hotel offers. [v] Conselleria de Turisme (2000) [vi] Govern de les Illes Balears (1999) â€Å"El turisme a les Illes Balears, dades informatives, any 1999†. [vii] In each of the boxes, the central line indicates the median of the distribution, while the height of the box represents the inter-quartile range, the area is proportional to the frequency of observations. The feet extend (at most) up to 1.5 times the inter-quartile range, aiding the detection of observed extremes (marked as circles).

What is the Calorie Plate Research Paper Example | Topics and Well Written Essays - 3250 words

What is the Calorie Plate - Research Paper Example In fact, the concept has never been introduced before. It uses state-of-the-art technology which digitally shows the number of calories the calorie plate contains. Calorie Plate has recently just been patented, with the concept coming from a group of students in Brisbane Australia. The emergence of this new product prompted the individuals involved in its intention to create a business unit that would market, sell and distribute the product in various locations within the country, and other major parts of the globe. The company behind Calorie Plate is named C-Med, Inc. Due to the nature of the product and the forecasted demand for its distribution in key sales channels for medical products, C-Med, Inc. will primarily take on a direct-selling approach to the product. This method shall be supported by both above-the-line and below-the-line advertising efforts, with specific emphasis on merchandising and web-based promotional and marketing activities. C-Med, Inc. will handle all aspects of the business – from manufacturing, operations, distribution, and marketing. The management will carry these out through partnerships with third-party suppliers and distributors to ensure that it reaches the right channels and the right market. As primarily a corporate type of business, all incorporators have invested an equal sum to make launch and operate the business. As a support to the current investments, C-Med, Inc. will open shares to other individuals who believe in the marketability of the product. Weight management is both wellness and aesthetic concern. Due to the competitive nature of the society we live in, people are now more conscious of their looks and their health. The first area of concern is one's health. As such, there are countless weight-management program and supplements in the market today. In Australia, there is a need to address the growing concern about the increasing number of people who may be considered obese.

Information Systems Term Paper Example | Topics and Well Written Essays - 2750 words

Information Systems - Term Paper Example The company also appears in the Forbes Global 2000 as the fourth largest company in the world, considering further metrics. This is in spite of the company ranking 14th most profitable corporation in the US, also according to the Fortune 500 list. The success of this company comes from its lean management style, as well as the internal controls structures implemented within the organization. GE has in place a number of internal controls that enable it to operate both efficiently, as well as profitably. According to the latest 10 – K report from the company, it is evident that the company meets the rules and regulations criterion of the Internal Control Integrated Framework as established by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and the PCAOB. This commission established a number of guidelines to adhere to while undertaking internal control processes and procedures, and as such, General Electric (GE) Corporation has to adhere to these provisions in order to be compliant with Internal Control Integrated Framework set by COSO and PCAOB. Initially, the essence of internal controls is to keep the company on the right course in order to guarantee the achievement of its mission, as well as ensure maximum profitability in operations. Furthermore, internal control systems are equally instrumental because they enable the company to minimize the level of surprises that they may encounter along the way. As such, internal control mechanisms enable the executive team of the company to deal appropriately with the rapidly changing economic field, as well as the growing competitive environments of trade, in addition to shifts in customer priorities and demands. Therefore, the administration of the company is better place to restructure the organization for future growth and development within the modern day dynamic business environment. The company ends up enjoying a significant wide range of benefits through it

I have to write a research paper on the evolution of crying

I have to write a on the evolution of crying - Research Paper Example It is the hope of this author that such an analysis will provide the reader with a greater understanding of human emotional/evolutionary responses as well as the means by which such responses are understood, translated, and acted upon by individuals. Naturally, an evolutionary understanding of the process of crying necessarily requires both a biological, physiological, psychological, and sociological approach. Accordingly, each of these approaches will be analyzed at some length been the preceding analysis. Likewise, in addition to analyzing Charles Darwin and his theories put forward in The Expression of Emotions in Man and Animals, current research within the past seven years on the topic will also be heavily relied upon in order to draw a level of inference an understanding on to the subject matter at hand. As with many forms of scientific analysis that seek to draw inference with regards to the early evolution of mankind, it is not always possible to draw directly upon the extant /hard evidence in order to prove the complexities surrounding such a level of emotional and survival – linked behavior. Rather, it is necessary to draw upon current evidence and help to link it to the needs based approach that has so often been proven to exist with regards to the biological process of evolution. ... Said Darwin in The Expression of Emotions in Man and Animals, â€Å"The primary function of the secretion of tears, with some mucus, is to lubricate the surface of the eye, and a secondary one, as some believe, is to keep the nostrils damp, so that the inhaled air may be moist, and likewise to favorites power of smelling. But another, and at least equally important function of tears is to wash out particles of dust or other minute objects which make it into the eyes† (Darwin, 2007). From such an observation, the reader can easily determine that although Darwin was cognizant of the fact that human tears were an exhibition that was unique within the animal kingdom, he did not seem to place a very high-value on the way in which the emotional excretion of tears was important or relevant to the evolutionary process itself (Coulson, 2011). Naturally, such an oversight simplifies the expression of tears and calls into question why humans have developed such a response in such stark c ontrast to the other members of the animal kingdom. Ultimately, Darwin does not provide a reasonable rationale for this and such a question has been left up to more recent evolutionary research on to this topic. Although will not be the express purpose of this analysis to analyze other evolutionary interpretations, it must be understood that prior to the last 15 to 20 years, almost all evolutionary explanations surrounding human crying were concentric upon trying to define it as a necessary biological function that helps to lubricate mucous membranes, expunge the body of toxins, or other non-emotional or impact that can definitions and understandings of such an exhibition. However, recent research has helped to broaden the understanding and

MS Project and Team Leadership Assignment Example | Topics and Well Written Essays - 750 words

MS Project and Team Leadership - Assignment Example Identifying and eliminating unnecessary spending is the need of the hour and can take us back on track. Together we need to explore all possible avenues to limit spending and even change the financial strategies if required. As you all know failure to stick to the budget can seriously hinder the project and have negative effects on the organization as well. Usually high performance is linked with increase in productivity and better and speedy results. A high performance team is one in which every member strives to achieve better results, is capable of solving problems faster and readily adapts to change. On the other hand, one poor performer in a team can take the whole team down and lower the productivity (De Dreu & Weingrate, 2003; Shepperd, 1993). It is said that the performance of an employee depends directly on motivation and the attitude of the employee (Akanbi, 2011). Sometimes an otherwise capable team member underperforms because he is uncertain of his roles and responsibilities and does not know what is expected of him (Coutu, 2009). This lack of clarity reflects on the work. In such cases the leader should explain the role clearly and then discuss with the team member what the priorities should be. Leaders can help such team members through consistent feedback. Feedback helps the team members to identify their goals and direction. For instance in case of this project, if the team member is not clear about the overtime policies than the overtime plan he designs will not be acceptable. Lack of motivation is another reason why a team member may underperform (Davidson et al, 2005). In such cases the underperformer can be improved through carefully targeted training. The leader must understand that no two employees can be motivated the same way. Some team members get motivated when treated as an equal. Leaders can motivate such team members by

Property valuation Essay Example | Topics and Well Written Essays - 1000 words

Property valuation - Essay Example Then there is valuation based on the type of property: whether commercial or residential. Generally, for a given location, the valuation of commercial property is much higher than residential property. The profession and income levels of the residents also influence the value of a property to a certain extent. "The Isle of Dogs now centres around Canary Wharf (Canary Wharf refers to the both the tower, the tube station, and the offices in its immediate vicinity). Canary Wharf is London's financial district. Businesses located in Canary Wharf include: Citibank, Credit Suisse, Barclays Bank and HSBC. Businesses from other industries, such as BP and Reuters, have also located in the area, but it is still dominated by the financial sector. This means that a significant proportion of the residents of E14 work in the financial sector, and earn high wages. It also means that the types of property here are predominantly new properties (built after the regeneration in 1981) designed for young executives rather than families."1 The above table shows the average estimated monthly rentals in different parts of London. Area 1covers localities like Kensington, Bloomsbury, St. John's Wood, Green Park, Westminster and other central areas. Being centrally located and having access to all amenities, this area is the highest valued one in terms of rentals. Area 2 covers the localities just adjoining Area 1. Kilburn, West Hampstead, Isle of Dogs, Elephant and Castle, Kennington, Dulwich, Brentford are the areas covered under this category. In the south, it extends till Raynes Park and Merton Park. In the north west, Woodford seems to be covered under this category, while surrounding areas do not belong to this category. Here, the rentals are slightly lower as compared to Area 1. Similarly, Area 3 is marked by the localities bordering localities under Area 2. Prominent among these are Kensel Garden, Strafford, Wallworth in the central area, Stanmore, Totteridge, Cockfosters in the north east and Strawberry Hill and Ki ngston in the south. There are a few areas like Surbiton, Bickley and Bromlay that stand out in the south among Area 4 and Area 5 categories. Area 4 consists of Bartnet, Endfield, Ponders End in the north and West Wickham and Ewell in the south. This category is spread out in all the four directions and can be bradly said to be on the periphery of the city. A few exceptions to this would be areas like Nunhead, Ladywell etc, that are located in almost central areas. Area 5 is almost on the outskirts of the city and thus lowest in terms of rent/yields. Recent Changes in Office Rentals Average office rents in the CBD (Central Business District) have recently fallen almost 38 % to $ 777.40 per sq. m, making it Europe's sixth most expensive business district. While London's Mayfair district is a premium business center and can be compared to Triangle d'Or area of Paris , rents have recently fallen in this area too. Even with a 45 % fall in its rental values, West End remains the most expensive office area in Europe till date with rental values to 961 euros per sq m.4 Conclusion Thus, while arriving at an agreement, an owner and tenant have to keep many factors in mind. While the importance of factors like location and amenities cannot be ruled out, market conditions will also have to be kept in mind. In the past one year, rentals have fallen by almost 50 % due to a plethora of reasons; changes in the sub prime lending rates and recession being the major ones. Even after the property has been let out for a certain period, there could be some market forces that might compel the owner to modify

Management Tasks and Computer Technology Essay Example | Topics and Well Written Essays - 1000 words

Management Tasks and Computer Technology - Essay Example In this scenario, much of the data and information comes openly from the vision and mission statement for the organization. In addition, establishing objectives for the business goal and following up on the implementation of the plan are two significant elements of the planning function. For instance, if an organization wants to open a new local restaurant, the manager will need to develop a marketing plan, a hiring plan and a sales plan. Additionally, the formulation of these plans can involve extensive searches of data and information as well as creation of a technically feasible proposal. In this scenario, computers present an excellent support for carrying out the task of information search through information retrieval systems on the Internet (Rothbauer-Wanish; FAO). Moreover, a good information recovery system which can help in collection and retrieval of related data and information on the subject of concern can significantly improve the quality of data and information collect ion. With the exception of this, there are a wide variety of other packages for this service. For instance, activities such as working out project budgets, time frames and generation of proposal reports can be aided with the help of data management systems, electronic spreadsheets and word processing, which smooth the progress of development and management of various alternatives with relative simplicity. At the present, the majority of business organizations make use of the Internet for planning of their tasks. For instance, if an organization wants to launch a new product or a service, it can use internet based surveys to collect the response of people. In light of their response, an organization can better decide whether it should launch a particular product or not. So, the use of information technology can save a lot of precious time and effort of an organization (Rothbauer-Wanish; FAO). Organizing Another significant job of managers is organization of the business and this cons ists of various important tasks such as organizing people and resources. In fact, determining how many people would be required for specific shifts can be vital to the success of an organization. On the other hand, if those workers do not have the essential resources to carry out their activities, organization cannot occur. In addition, without an organized place of work, workers will perceive a manager as unqualified and may lose respect for that specific manager’s managerial techniques. In this scenario, computer supported tools and applications can play a significant role. At the present, there are a wide variety of tools and applications which can perform these jobs on behalf of managers. For instance, MS Project can be used to organize tasks. A Gantt chart can provide the necessary information such as when a particular activity will be completed and how much resources will be required to perform a specific task. In this way, computer technology has made this function of management relatively easier (Rothbauer-Wanish; FAO). Leading The management and leadership are not the same activity. Basically, a manager is responsible for managing the workers and their tasks. In other words, this person ensures that all the activities are carried out on time and specific rules and standards are followed. In this scenario,

Discussing Frankenstein Essay Example for Free

Discussing Frankenstein Essay Living in a society, we are accustomed to completing tasks within minutes if not seconds. With this fact in mind, it is very difficult to comprehend the amount of painstaking labor of Victor Frankenstein. The long days eventually turned into months and then into years. Victor observed worms in a graveyard, collected materials, and painstakingly created a being, complete with the intricacies of a human body and mind. After the realization of his greatest achievement, Victor looked upon the lifeless individual as his creation. As the father of this illegitimate being, Victor is already physically and morally responsible for the creature. Since the very beginning of the experiment, Victor was entrusted with this being. Once the creature opened his yellow eyes, Victor relinquished his task to educate his design. Instead of worrying over the creatures welfare and the interest of others, he drove from his mind all thoughts of the experiment. The monster was left to fend for itself, learning the basic essentials of survival by what he saw an the only food he could find. Only until the monster hurt something of significance to Victor, did the scientist feel accountable. It is no doubt the monster is now evil. His unanswerable question in life is why am I here? The man who gave him life fled from his side just like the rest of society. Victor, at this point in the story, has a choice. The scientist can either make another life form or suffer earthly torments from the monster. By not completing the request of the creation, Victor handed over the lives of his family and friends. Again, Victor can be held morally responsible for the deaths. Creation tells him to make another life form and everything will be alright. The scientist never realized his mistakes. If he has only taken care of his creation, the deaths of his father, wife, brothers, and sisters could have been avoided. With such a brilliant mind, Victor could have been one of the brightest minds in science. If it were not for the irresponsible beginnings of the experiment, the evil in the creature may have never surfaced. Throughout the novel, Frankenstein, the theme of life and death is pervasive in connection to the moral ignorance of Victor and his monster. Evidently both characters showed a great quantity of wrongdoing; however the awaiting actions are all start from one: the creation of life from science. This was thought of as an impossible task, but would prove to be Frankensteins foremost dream and goal for his youth and adolescence. Not realizing the severity of the consequences; Victor succeeded in breeding his creature, which would ironically lead to his future destruction. Being unaware to what a creature might do without the proper nourishment from family or friends, Dr. Frankenstein shunned his own creation even though he had the obligation as a parent to foster his child. However, not only did Victor overlook the proper care for his creation, but he also cursed and criticized the appearance of the wretched monster. Frankenstein assembled the beast to look inhuman and rejected what he purposely created. The grotesque look of his child not only repelled his master, but also disgusted the rest of society. Although Victor did not physically commit murder, his denial as a father to his imperfect being was in fact killing the monster from the start. mention the part when F sees monster for the first time It is now obvious that Victor was the most morally irresponsible. He tried to forget his past, as he did not want to be linked with that daemon which was created by his own hands. Frankenstein exhibited selfishness along with small-mindedness. He first ignored his family upon creating his child and then ignored his child upon escaping his workplace. Victor did not think twice and failed to resolve the problem before it augmented. Just a baby being brought into a new and evidently prejudice world, his creation did not know what to do. The monster had to survive in the dangerous world alone with no one to love or give love in return. He had no one to help him, no one to teach him, no one to feed him, no one to even talk to him. Whenever he helped humans, he would always receive harm. He harmed mankind because they harmed him first. Unquestionably, if he were treated with love, he would return the love tenfold. However, Frankenstein was responsible for the miss-education of the child and for the actions of the child. Moreover, Frankenstein was responsible for the deaths of his friends and family. Being the cause of his own unfortunate destiny, Dr. Victor Frankenstein is clearly the one who demonstrated the least moral responsibility. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Mary Shelley section.

Grading System Essay Example for Free

Grading System Essay I think this is a good step to change the very old education system of our country. We have progressed and developed in many field but the Educational system is same (implemented during Colonial regime). But the question arises why in only CBSE System. However, this is going to relax most of the students and parents as well. The Students and guardians were used to go under unnecessary pressure and stress twice (X XII). The Grading system is better than marking system. Meanwhile I fee the Government should also consider on the following matters. 1. There should be one syllabus system in all over India. . This system must be applied to all board exam not only CBSE. Each and every board must follow other wise the students of CBSE will face a great consequences in future. 3. There should be one educational system in all over India. I’ve read these statements, n I think most of the people dint like it bcoz, acc to them there e will be no difference in 91 and 99. i just want to ask that in whole India how many students get above 90 and hw many below 60. obvsly more students are in 2nd category’s we should think on behalf of those who are more in the system get very depressed when they fails! their enthusiasm, will to study further get busted! So it better for those students. At least they can study further with increased enthusiasm that they have to get next grade next year. So thinking as a mess. This sys is excellent and obviously it will reduce the suicide cases adopted by the failure students. Well everything thing has both ways one is positive and another one is negative we are taking about only positive thing that is stress will be remove from students mind, inferiority complex and all that. But there is some person, who is talking about negative point of grading system, if we talk about negative point there are certain points like no students have deep knowledge about the subject and if you do not have deep knowledge you can put up your point in front of class and seminar. Another point is at the time of interview or practical we cant go because you don’t have idea about the particular thing you have basic knowledge but at the time of practical or interview they will ask the root thing of the particular subject or thing. So these are the few examples of negativity of the grading system. This is a good initiative by kapil sibal. Maniacs of marks should understand that there is no big difference between a student who scores 99 and 90. Nobody is consistent in their scoring which at times happens even beyond expectations. So this hue and cry over marks is pessimism. Every top ranking institute ranks students upon their aptitude where a student getting 60 marks may score better than a book worm who takes 99. 9%. Marks and knowledge on the subject are two different things. Mental ability and overall personality development means more than those digits scored without any purpose of developing knowledge. This system will put an end to such stupidity. Let me clear your view about the Grading system and Marking system (fail pass). Grading system will be a kind of regular assessment system to check the students progress which will allow the students to put their focus on the poor grading subjects. Guardian may check the assessment of their ward and rectify the mistake before it goes beyond control. Usually the students take easy during normal course and take a great stress at the time of Final Exam which not only put them into depression but also allow them to commit suicide either before Exam or after the result. The fear of Pass and failure become the nightmare for the students. At present, to take admission in any professional course you have to appear in test process follow by interview so it will not effect due to getting 98 or 91 or even less than 90. The only thing I realize that educational system of all Board should be one and same. However, a lot need to change in our educational system and I think this is the first step towards the introducing global system of Education in India. Continual assessment of students without board examination is likely to considerably reduce the stress of not only the students but also the parents and teachers. Secondly, continual assessment is a good concept to evaluate a student during the entire academic session. On the contrary, one time assessment via board examination does not reflect the true academic standing of a student. I must congratulate the policy makers in this regard.

RC Cola Marketing Plan

RC Cola Marketing Plan The product for the particular assignment is RC Cola which used to be a product of Royal Crown Cola Inc till 2001. In 2001 Company sold Royal Cola International to Cott International, now all the brands are under the acquisition of Cott International. For the purpose of this assignment we will be looking at the marketing plan for the product that is drafted particularly for the country from which I belong Pakistan. A reason for choosing this product is more a personal reason. RC Cola was one of the favourite drinks when i was a school boy and in late 1990s RC Cola started to lose its popularity and starts to fade away. After sometime it was out classed by Pepsi and coke. I have tried to draw out a marketing plan for RC Cola because i know that there are so many people in Pakistan who used to fancy RC Cola in their childhood and want it to make a comeback. For the purpose of making a marketing plan for the chosen product, we will do the situation analysis of the Soft Drink Industry in Pakistan. The Marketing Strategies that can be adopted by the company to gain competitive edge and the Marketing Mix for the product. The later part of the assignment looks at the Actions that should be taken in order to implement the plan and any control measures that should be taken to make the plan successful. In the end we will draw out a budgeting plan that should be allocated for the advertisement campaign of the product. Marketing Objective The objective of drafting out the marketing plan for RC Cola is to win the market share in Pakistan and beat Pepsi and coke which are the two big competitors in that region. This objective is set because in past RC Cola has been the market leader for more than 20 years in Pakistan and there was no competition. This object might be difficult to achieve but is not impossible as RC cola has a very strong brand name which is a strong edge. Only thing needed is to formulate a right strategy and to make adjustment to the product according to the strategy. Industrys Situation Analysis Before drafting out a marketing plan for the chosen product it is important to analyse the industry situation. It includes the analysis of strengths and the weaknesses along with the opportunities and the threat that can affect the choice of the marketing strategy that we will adopt. At the moment the soft drinks industry of Pakistan is dominated by the products of Pepsi (market leader) and coke. Strengths Due to the hot weather conditions the Pakistan soft drink market has enjoyed a massive growth in the terms of volume. Soft drinks industry comprises of carbonated drinks, juices and milk shakes etc. Among all of these carbonated drinks have the highest market share. This is because the change in the lifestyles of the people, as it is perceived that drinking a soft drink makes the person look cool. The sales analysis of the soft drinks industry in Pakistan shows that the sales have grown in both ways firstly people buying sales directly from the cold drink shop and secondly people going to hotels and having drinks with their food. This clearly shows that the soft drinks have become a part of the culture and have out classed the homemade drinks i.e. Lassi (drink made by adding milk, yogurt) etc. Weaknesses The sale of soft drinks is normally seasonal; it achieves its peak in the summer and then starts to fall down as the summer progresses to meet winter. The soft drinks like Lemon and Orange squash are not strong enough in reputation to beat the traditional drinks which are made by adding two spoons into water, mostly known as Sandalwood the best one in Pakistan are Roh Afza and Jam e Shiri. Opportunities Government of Pakistan has reduced taxes such as VAT and Excise in order to attract more foreign investments. The labour is very cheap in Pakistan along with the running costs of a factory. This makes it easier to install and run the factory. Threats Increase in the awareness of heath related issues, people have started to turn towards fresh juices. Education providers and media have raised health related issues caused by the regular use of carbonated soft drinks Mostly people in Pakistan are now becoming self conscious about their diet and have preferred not to use cold drinks as it contains ingredients that increase obesity. Marketing Strategies Marketing strategies that company can adopt for a specified product are: Cost Leadership Strategy Mass Marketing Cost Leadership Strategy Cost leadership strategy is a strategy which involves company trying to win the market share by targeting the cost sensitive customers. Company should consider this strategy for several reasons. Which are listed below. The average income per person in Pakistan is very low and the soft drink companies like Pepsi and coke have increased their prices in recent past. Looking at it as an opportunity Cott international can keep their prices low as it use to have in past and try to capture the market share. There are about an average of four kids per couple in a country like Pakistan, most of the kids are school going and they need pocket money but due to low average income kids dont get enough pocket money. If company keeps the cost of RC Cola low than that school going kids will be potential customers. There is a tradition in Pakistan that people are invited on marriage ceremonies where food and drinks are served. By keeping the cost low will encourage those people to buy RC Cola as they will want to save money on something. Mass Marketing Mass marketing is a strategy in which company ignores the market segment and go into target everyone, everywhere with one offer. Mass marketing is suitable as well in case of Cott International for the following reasons. It is companys objective to gain as much market share as they could to become a market leader. For this Cott International has to start a massive marketing campaign starting from the south of Pakistan and going up to the northern areas of Pakistan. Cott International should use print media and television advertisements as these two are the mostly used modes of media in Pakistan. Marketing Mix Strategies Marketing decisions cannot be made without looking at the factors such as: Product Price Place Promotion People Process Physical Evidence Product Product is a term which refers to the tangible (physical process) and services. Before starting the marketing campaign Cott International should think of about the presentation of RC Cola. Decline of RC Cola shows that there was something wrong in the product or there was something more well in the products provided by Pepsi and Coke. Rebranding of the product is not an option in case of RC Cola as it is an internationally recognised brand and has a history of more than 100 years. It is consumed by children and adults all over the world. Rebranding in case of RC Cola means that the name of Royal Crown will be replaced by a new brand, which will not be an effective move. Company should try to improve the quality of the product, for example they should try not to use Caffeine in the drinks as they used to have. As mentioned above people in Pakistan have become more aware about the health and hygiene issues and they know that Caffeine is not good for the health in long term. RC Cola should try to improve the taste of their drink, this is because it tastes a bit bitter as compared to Pepsi and Coke. Currently the there is no variety in the taste and they are only offering RC Cola and RC Cola Diet. Company should look to launch RC Cola with variety of tastes as other companies have done. Option of developing new products such as RC Cola Cherry and RC Cola Strawberry is a good option. It should be made available in different sizes ranging from 250 ml to 2.5 Litre. Option of having disposable bottles should be considered. Price As the product has been in decline and out of market for a while so the best option is to adopt marketing penetration strategy and keeping the prices low. This is because our objective is to gain the market share which cannot be achieved if the prices are high. The price should not be too low otherwise it will be perceived as a low quality drink by people. As government has levied the taxes for this particular industry which has resulted in reduced cost to the company, even if company set low prices it will not incur any loss. Place This is related to how the product is made available to the customers. It is all about distribution of the product in market. Traditionally in Pakistan the soft drinks manufacturers have links with distributions and wholesalers. So keeping in mind how it works in particular country it is advisable that company should develop relationship with wholesaler and distribution holders, where they could place their product and the product is made available to the consumers. In this case company should go for the strategy of intensive distribution that ensures that product is placed at as many outlets as possible by the company. Because they aim to cover the large number of customers, so it should be made sure that RC Cola is available in each corner of the Pakistan. Using distributions will also save the cast that would have been incurred if company has to store the product in their warehouse. Distributions somehow provide storage facility as well. Promotion This part marketing mix is of high importance to Cott International as they have to do massive promotion in order to win the market share from the current market leader. Elements of promotional mix on which company should focus more are as follows. Advertisement Sales Promotion Sponsorships Public Relations Advertisement Company should advertise on popular television channels such as Geo, Ary Digital, Aag. TV commercials should be creative and attractive as it will have impact on the thinking of the people. Currently Pepsi and Coke are very good in tv advertisements so i order to get to that level company should make a separate advertisement department. In Pakistan there are so many cultural and religious events for example Basant (spring festival), Ramdan and Eid. So company should seek to make adverts according to the festivals. Print media such as news papers and magazines are another very strong media type in Pakistan. People love to read newspapers early morning, company should advertise in popular newspapers such as Jang and The Nation. Company should use big advertisement boards in main parts of large cities of Pakistan. Using banners to advertise will be another good option. Sales Promotion It a short term incentive aimed at generating sales or encouraging consumer trial of the companys products. Company can distribute free samples of the RC Cola to the costumers so that they are made aware about the product with new packaging and taste. Company should seek to introduce new offers such as Buy a 2L jumbo size bottle and get 250ml for free. People in Pakistan love to get things for free so this will work. Company can introduce a lucky draw in which winner will get a car and runners up gets small prizes. Customers have to scratch the specific part of bottle in order to get the code then they have to sms that code with their details and they will be included in the draw. This will encourage people to buy because every time they will buy, they get a code which increases their winning chances. Company can give free refrigerators with the company logo and name on it to the retailers and can ask them to use it only for RC Cola products. Company may put vending machines with their logo in schools, colleges and universities. This will remind the people about the existence of product. Sponsorship This is when an organisation undertakes to carry the cost of hosting an event in return for advertising space. Company can sponsor Pakistan Cricket Team, by sponsoring them company will provide them cricket kits, bats and pads. On the kit of cricket team they can put their logo and also company will get space to advertise their boards on the boundaries or even on the wickets if match he taking place in Pakistan. People in Pakistan are diehard fans of cricket so there is good chance of this option to work. Company shall sponsor musical concerts of singers like Atif Aslam Ali Zafar. Because thousands of people attend those concerts, this is the good way of making sure that people remain aware about presence of product. Cott International should try to sign some cricket players like Shahid Afridi and Shoaib Akhtar to work in the companys advertisement. When people will look at their stars drinking this drink they will definitely try it. People People are included in the production and delivery of goods. People make a lot of difference to the company. They should have proper uniforms. Company should have rigorous recruitment system through which they employee well educated and disciplined staff. There should be proper training in place for the employees to carry out their duties in a perfect manner. Sometimes employees have to interact with public during some advertisement campaign, so company should make sure that there employees are friendly. Processes Company should have clear procedures and policies. Everybody should be aware of their duties and responsibility. Company should ensure that all the processes are efficient and the output is error free. Physical Evidence Physical evidence related to those aspects of the service that customer can see and feel so as to form an impression of the services or its provider. Logo: Company should have a unique sign that should make it look different from other companies. It should be distinctive in way that it reminds the customer about the quality of the product that has been provided by the company. Colour: In past RC Cola has used blue and red colour, which does not look different as the market leader Pepsi uses blue colour this might result in the misunderstanding by the customer. Vehicles: Company vehicles such as lorries and truck should be painted and must have companys logo and name on it. Budget Allocation Implementation of a plan needs finances, if there is no finance allocated to the plan than plan will always remain as a piece of paper left inside the drawer of office table. After looking at the pakistans current market rates for the advertisement, budgeted expense has been drafted which is as follows: ______à ´Ã¢â€š ¬Ã¢â€š ¬Ã¢â€š ¬___ !__ Mode of Media used budgeted expense Television Adverts 2,000,000 Newspapers 100,000 Light Boards 500,000 Magazines 100,000 Total Cost 2,700,000 Once budget is allocated to the project than company should move on to start allocating the responsibilities and tasks. The marketing plan will be of no use if capable people of staff are not assigned duties and given the deadline for fulfilling their tasks. Specify the date on which product will be launched into the market. Time to take Action Date of launching of product is set as 12th December.2010, advertising manager of the company is given 1 week time to put all the bits and pieces in order and prepare for the advertisement campaign of the product. From next Sunday every week an advertisement will be published in the most popular newspapers. Television Adverts will be advertised between 7:00 pm to 9:00 pm on tv channels like Geo and Ary. Advertisements will be placed in magazines. Marketing manager has already specified the major areas where the big light boards will be installed on which advertisement will be displayed. Lorries with a big model of the RC Cola 250ml bottle at their starts to take round of the city for whole day. People will keep this distinctive way of advertisement and will remain aware about the product. Continuous monitoring of all the activities should be carried out in parallel till the launch of product this is done to ensure that any inefficiency or weakness could be overcome by the management well before hand. Critical reflection on learning outcomes RC Cola inc was formed a century ago, when it arrived Pakistani at that time there no other cola and there were no advance mode of marketing which can be found now in Pakistan. People very not aware of these foreign drinks and were fond of traditional drinks, despite of all these factors that prevailed at that time RC Cola gained market share and soon became the market leader. Acquiring market share when there was no vast coverage of media in Pakistan makes me think that there was something in the product that prompted people to buy it again after they use it for the first time. Value is in the mind of the customer, probably there were not enough carbonated drinks in the market so the arrival of RC Cola with a sweet crispy taste should be a possible source of value to the customer. After the initial launch of RC Cola in Pakistan in 1970s-1980s the product growth was very rapid and it became market leader as mentioned already. According to my analysis of the product, the reason for its decline in first place that company did not incurred any cost on research and analysis of the development of any new product and tried to survive on the product which they had. With the passage of time the tastes of the consumer might have changed and at the same time new competitors entered the market and got hold of the situation. What do you expect from a company which do not incur any cost on research and development and when new competitors enters the market with an aggressive marketing strategy at that time company do not have enough finances to launch a marketing campaign in response. The result of all these is definitely a failure and failure always lead to the decline. Moreover the analysis of company shows that there were some law suits against them in 1990s which lead t o compensation payments and cash being dried up. In my point of view these were the problems that led to the decline of product and company itself as well. After the first glance at the assignment i thought as if this requires only drafting a marketing plan for a product that has decline and almost out of the market. But when i start to gather my thoughts on how should i start? What should i consider? I soon realise that it is not only the product which we have to look at but also the external and internal elements that will have an effect on the product directly. Than it was obvious that an analysis of the industry needs to be done. I had number of different models among which i have to use the one that best describes the situation of the industry. For the purpose of doing an industry analysis i chose to use SWOT analysis which looked at positives and the negatives of the industry in which we have to launch our product. I have a professional background of an ACCA and i thought the having studied business analysis in past and gone through all the models, it will not be a difficult task to carry out research and analysis. But my percepti on was proved wrong when i started looking at the product and in particular the company, i have never had a chance in past to study any industry so deeply and finding out what are the strengths on basis of shich you can capitalise and what are the weakness that are inbuilt in the industry. While going through industry analysis my mind was thinking of how the product strengths can be used to overcome the inbuilt weaknesses in industry on other hand i was thinking that how the weaknesses of my product can convert the opportunities that can be availed in that industry into the threats. This thinking process was ongoing throughout the assignment time. After the SWOT analysis of industry and in particular the product, i had gained enough knowledge about how the things were working and evaluating the options on basis of which i could make the product play around in market to gain customer attraction. It was time to draft a proper marketing plan because a wise man have said If you fail to plan than you plan to fail and i really didnt want this product to fail. I realised that marketing plan is not only about Marketing Mix 7 Ps. It starts from the analysis which i have discussed above than it goes on to defining the objectives which the product wants to achieve. Objectives defined should be smart and feasible once the objectives are clear than 7 Ps could be used to design a marketing mix strategy, it covers every aspect of the marketing strategy from external factors to the internal factors. Marketing mix analyse each factor individually and then links them with the objectives and missions of the company. It helps to formulate what e xactly needs to be done. Once your are sure about what should be done than there should be proper budget allocation to the project in order to meet the desired outcomes. Most of the marketing plans fail because there are not enough resources allocated to carry them out in practical. Roles and responsibilities should defined and work should be properly allocated. After all this has been done the marketing plan should be monitored on regular basis so that if there is something which is going wrong than proper actions should be taken in order to sort them out without any delay. This is what my perception about how a marketing plan should be carried out and monitored till the desired objectives are achieved. Now a days the world has become a global village and this has a vast impact on the nature of marketing. There is a big difference between a way how companies market their product now and how it used to be two or three decades ago. Marketing of a product is not limited to any physical barriers now. After the birth of e-marketing the things have changed very positively and business have gone multinationals from nationals. This has reduced the cost to the companies as well and have given a competitive advantage. Few basic market research techniques followed now a days are Surveys, Personal Interviews, Observations and Focused groups. With the birth of e-marketing these marketing researches are now more likely to be carried out via internet. To me the outcome of these market researches is not effective at all. This is because it you look at the first technique that is Surveys in which people will be handed over a form with a number of questions which they have to answer, which is then handed back to the person carrying out survey. If the questionnaire is given in person than there might b a chance that response will be 100% but the reliability of a survey depends on the sample size if the sample size is only 1000 out of a population of 1million than the reliability of the survey could be impaired. Telephonic surveys could also be carried put but it will cost a bit more and are more effective but yet again sample size is the key thing. Focus groups. In focus groups, a moderator uses a scripted series of questions or topics to lead a discussion among a group of people. These sessions take place at neutral locations, usually at facilities with videotaping equipment and an observation room with one-way mirrors. A focus group usually lasts one to two hours, and it takes at least three groups to get balanced results. But still the question arises that everyone has its own point of view and perception about the questions which are being asked. Few number of people cannot represent the thoughts of a large population. Personal Interviews are same as the focus groups but is more tended towards one on one discussion. Observation is an Individual responses to surveys and focus groups are sometimes at odds with peoples actual behaviour. When you observe consumers in action by videotaping them in stores, at work, or at home, you can observe how they buy or use a product. This gives you a more accurate picture of customers usage habits and shopping patterns. After learning alot from this assignment i tried to analyse the marketing strategies and the behaviour towards customers that is practiced in my country and i than compared it with what is happening here. My analysis was mostly based on my personal experiences that i had in past. Not to my surprised i came up with a very huge difference between two environments. Back home in Pakistan customers are not treated as they should be, the shop keepers are rude to customers and they are not cared. On the other hand the behaviour of the people towards their costumers is very courteous and polite because they know the value of having these customers as they generate revenues out of them. This assignment has enhanced my analytical skills and i have very positive plans to go back to my country after completing my course and try to work on creating a value for customers and making them feel good.