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Flaws in marketing tips
Introduction
Marketing needs deliberate organization of an organization’s most delicate stage of all operation processes in an organization. Several research studies have been embarked on in the recent times in an attempt to discover the best approach likely to handle marketing flawlessly. In the discourse below, the authors present well researched topics that the modern market faces and relevant examples are used to illustrate the topics. Bearden, Ingram and LaForge (2001) as well as Hartley (2001) have been selected for the discourse that in turn presents useful links that modern comprehensive marketing exercise needs to touch on. In 2001, Bearden, Ingram and LaForge, the publication under the title Marketing: Principles and Perspectives was produced in one of such platforms of relaying such marketing information. In the same year, Harley published the book by the title Marketing Mistakes and Successes, detailing several cases where classical marketing tips were flawed or followed and the results obtained. Lessons learnt from the text contained in these books have been highlighted in the following book review, with regard to marketing principles.
Management issues surrounding decisions taken regarding marketing in the current market practices that are flanked by information appear to be an increasingly tricky business for managers. Mistakes are likely to be scrutinized using all resources available from the information that is now within the reach by the management. Mistakes of omission and commission can now be handled with clearer research approach than it used to happen before (Hartley, 2). Current management is buoyed by the fact that rare analytical resources are possible to be accessed to enable; early detection of problems, clear determination of the problems origin, creativity for alternative reactions to problems, fast reaction before havoc is caused and interpretation that mistakes can be used to learn useful operational practices in future and across organizations.
Bearden, W. O., Ingram, T, N. & LaForge, R. W. Marketing, principles and perspectives, New York, NY: McGraw-Hill, 2001. Print
Market orientation
In Bearden, Ingram and LaForge (2001, 4), winning organizational practice regarding presence in the market is defined by how well the management assists the organization to create a market orientation. The authors predict that in order to understand the marketing experience that can favor the organization in a competitive manner, a foundation must be created in the initial orientation. To facilitate a winning advantage over the competitors, market study must be performed with respect to two important aspects. One of these aspects is the consumer factor while the other involves understanding competition awareness. Such a practice is a continuous practice that sustains and maintains the existence of the competitive edge that marketing ultimately aims to achieve.
Orientation for winning marketing practice entails collection of information of these two factors. Regarding the consumers, the organization needs to understand customers’ needs. After obtaining information on consumers’ needs, production and marketing considerably get shaped up as they must respond to the information obtained in such processes. The consumer is the driving factor for quality and quantity of the product that an organization presents to the market. Possessing market information, for instance regarding the various preferences held by customers should act as a pointer of how well prepared a company is to tap orientation strength for that particular market.
Besides customer awareness, collection of information regarding competitors’ capabilities in that particular market is essential in creation of a competitive advantage. It useful to learn how the competitors manage to survive in the market as a survival skill, but it would be important to have the same information to launch competitive warfare. Regarding the collection of such information, market research must be handled professionally to avoid unnecessary commotion between different organizations. A philosophy must be developed on how to maintain up to date information of the operation detail of the business rivals for strategic competitive advantage.
After obtaining the relevant information, the author recommends that the information is shared with the appropriate departments for action. Every role player in the company must be aware of the available information and the likely application that the organization ought to formulate. It would be useless for the relevant department to collect the needed information about customers and competitors. Every department touched by the information is required to translate the information thus obtained by applying the information to generate customer value. Sharing and conversion of the collected information into a useful tool needed for market orientation have proved to be very vital marketing foundations. Entrenching the practice into a routine by the organization creates yardstick by which performance can be hinged upon.
Strategic marketing
The author states that principles of marketing would be compromised within an organization if there is lack of strategy or clear action plans. Strategic planning for marketing in the organization must comprise of all relevant information about the organization decision that elastically translates into changes in performance. A marketing strategy considers the short term and long term objectives set prior to operation of the exercise. By the end of the exercise, the organization should position itself better than the rivals, having first tackled the customer issues involved. The author provides us with information regarding key decision to be made during the designing and launching of strategic operations in marketing (2001, 10). Decisions must be made to resolve vital areas of strategic marketing as highlighted below.
Firstly, decisions touching on product development must be coupled with brand development must be formulated as a matter of response to the market. Customers buy what they think would increase utility while satisfying their needs as well. Product quality and quantity of packaging must be done in a manner that clearly sets out the path that depicts customer demands. Secondly, pricing decision must be on an analysis that competitively positions the organization without any adverse effects to profitability. Competitive pricing responds to principles of fairness in setting of prices. Pieces should be allocated depending on the cost analysis. Profitability seems to be directly related to the pricing mechanism adopted. Thirdly, distribution of the commodities into the market to promptly meet the customer well being as remain attract to prospective. Fourthly, marketing communications are useful in determination of appropriate steps to take in a strategic marketing decision. Mix blending of the agreed product must then be adopted in response to the factors that the above decisions respond to. Mix blending adopted usually contains production of a combination of commodities driven by the issues highlighted for decision making.
Advertising and Promotion
Marketing communication that enables delivery of relevant brand results in the market is usually a strong tool used in the formulation of relevant advertising strategy as explained in Bearden, Ingram and LaForge (2001, 393). There are various ways of achieving a winning promotional advantage over the rivals in the market. For instance, personal selling (374) which entails the creation of marketing formulae that deals directly with the clientele for creation of brand loyalty should be assessed. The system should be completed by some strong integration of multiple means of marketing communication. During the relaying of the communication contained in the promotion, a comprehensively conclusive but consistent message should be disseminated.
The company must formulate specific and direct marketing objectives from the onset, in order to facilitate consistent results from the exercise. This is because brand name generation and a strong market existence are difficult ventures in the beginning (469). The most important positioning resource that the manager ought to exploit for the company is by establishing relationships with the market in such a way that immediate reaction and feedback can be achieved. Alternatively, the author reports that it is important to maintain and continually uphold the created relationships at the market level. Various sales promotion techniques should be explored but the author warns that over-reliance on sales promotion for market sustainability would certainly be devastating (435). It is indicated that the danger is mainly posed by the apparent consumer notion that initially emphasize on other aspects other than the real commodity benefits.
Hartley, R. Marketing mistakes and successes, Hoboken, NJ; John Wiley and Sons, 2001. Print
Entrepreneurial Adventures
The author dedicates a whole chapter to entrepreneurial adventures where new operation practices are explored from across the industries (Hartley, 9). Marketing at leading global corporations that can best fit in the description of a successful adventure are articulated in the entrepreneurial adventure section. The author attributes success of these corporations to some of the best marketing practices adopted at the various levels of operation that these model cases. Google on one end represents a modern innovation solutions corporation in the example, illustrating internet marketing success that an organization can achieve in the current market flanked by access of relevant information. Starbucks growth as attributed to winning market authority has been visited by the author to drive the point further home. Similar lessons are made with regard to the past and recent performances posted by Boston Beer. Marketing can be singled out from the entrepreneurial track enjoyed by the organizations that the author uses in the discourse that locates principles of marketing.
Marketing Wars
It is perhaps timely and appropriate that the author decides to include marketing wars between two of the top global soft drink manufacturers (Hartley, 61). Pepsi and Coca Cola have had one of the most accurate descriptions of marketing wars that modern market has witnessed. These organization have established themselves in the market in an almost nearly a synonymous format. In a similar manner, the author uses HP and Dell to illustrate how marketing can determine the fortunes of the entire performance of the company. Pricing has been applied in the marketing wars, where Dell once used low pricing strategy to edge past other competitors including Hewlett Packard (HP). Change of guard at HP with an aim of resurfacing as an all inclusive market participant presented marketing trouble for Dell which had to act in reaction. Main areas of marketing include brand identity where personal computer market battles have particularly been witnessed. The author clarifies marketing wars with further illustration that presents the rivalry between Boeing and Airbus in commercial aircraft market. Airbus initial limited capacity was not a hindrance to rising to glory, especially after learning that marketing flaws at Boeing could be used advantageously.
Comebacks
It is not until the author dedicates a section of comebacks by corporations that marketing adventure and wars start to appear definitive of the remainder of the discourse. Competition can lead to adverse performance where companies bow out while others rise up. The most important is how those that falter come to rediscover their position and make interventions. Using classical case studies, the author illustrates the importance of strategic attempts to launch comebacks where faltering has been recorded (127). The author presents McDonald’s rebirth by explaining the importance of operation moderation (129). McDonald’s diversification formula appeared ineffective in the repositioning that the Company needed in the immediate reaction plan. Alternatively, the case of Harley-Davidson is outlined for explanation of how corporations can launch comebacks (147). Competition with rivals such as Honda appeared to pose a severe threat than the management expected reducing effective market share to less than five per cent, up from 70 per cent in only a few years. The expected comeback was hard to achieve within three decades, which proves the importance of maintaining a market niche that is sustainable. Performance at Continental Airlines faltered to such an extent that employee motivation was at a record low but rediscovering operations coupled to management of marketing facilitated a rapid turnaround of events (161). Appointment of a new CEO at Continental Airlines was part of the package that the company needed to instill order back at the company and position the Company to one of the best in the country.
Marketing: Mistakes and Success
Up to that level, the author deals with issues that might not directly relate with marketing but clearly devotes the rest of the book to unravel pertinent issues related to marketing. Mistakes and success can be used to illustrate both weaknesses and strengths respectively in managerial practices. While mistakes ought to be avoided in all management roles, they certainly emerge and the lessons learnt can be used to inform management decisions. In the first section of this segment, the author presents marketing management mistakes, perhaps in a deliberate merit that creates a therapeutic impact on the reader who follows it up with the success section.
Under the topic Marketing Management Mistakes, the author presents the first deliberate attempt to directly deal with marketing (175). It is perhaps more important to disclose major marketing mistakes that managers make and dip their organization to trouble that would otherwise have been avoided. Aware of this fact, the author presents some classical mistakes made by model corporations that the modern manager should be aware of. The author equips the manager with marketing don’ts that managers should be on the lookout against, in an indirect manner that uses practical cases. Borden success in the dairy industry seemed to wane upon an acquisition that broadened its product range (177). Dissecting the possible cause of the problem, the author predicts that the brand strength could have been weakened by extended brand range without appropriate capacity extension. United Way of America suffered image destruction that tampered with public relations (190). According to the author, the publication of management flaws at the organization could have affected its market status. Contributions from well-wishers dropped drastically upon scandalous revelations that were made regarding the organization by the Washington Post. Mistakes of the management in the organization seemed to ignore the impact that such revelations would have on direct stakeholder equivalent to a consumer.
Assimilation and coordination issues affecting Daimler-Chrysler merger constitutes a major concern that modern management should beware of. Mistakes in creation of mergers for large corporations such as Daimler and Chrysler trickle far than operations, particularly dealing with repositioning at the hybrid market which needs special definition different from their discrete markets (203). Similar acquisition issues that the author uses to articulate the issues involved in such marketing decisions is demonstrated by use of Rubbermaid acquisition by Newell’s (220). Euro Disney wrongly relied on the records theme parks posted by establishments elsewhere outside Europe. Wrong market projections applied wrong success format to cause a serious flop in fortunes in France (233). Had Disney made the correct market positioning and orientation, the assumption held that the Paris market would be a replica of those in other places would not have occurred. Unique markets are only entered flanked by information on both all market factors. England’s outsourcing and sales promotion outfit, Mytag could not handle an overwhelmingly swelling demand following a mistake in an aggressive campaign (251). Using a merger example like those used before, the author closes the section with Kmart and Sears who failed to turn their low performances into success (267). The reason cited by the author to be the cause of the failure was mistakes of performance feasibility tests done by the management.
Deceptive sales practices have been visited by the author under ethical mistakes as some of the mistakes that management or staff make to destroy the opportunity of success for the company (351). Using the Ford and Firestone example of such deceptive and defective practices, the author explains how potent ethics is to business success (365). Upright business conduct enables business to thrive where all stakeholders feel protected and not taken for a ride.
According to the author, marketing success can be mentioned with reference to records posted by some corporations (281). Examples used to illustrate this point are Southwest airlines (283), Nike (302) and Vanguard (319). Using strategic marketing skills, some of the above highlighted mistakes have been resolved by the author.
Conclusion
Some of the basic lessons that the authors contribute to important principles of marketing include; mistakes and success that management in charge of marketing makes, comebacks that failed management decisions need to reposition organizations, marketing wars that companies enter into, advertising and sales promotion practices that rivalries enter into, strategic marketing in modern business, market orientation for competitive advantage among other themes brought out. Besides the main argument lines developed by the authors in these books, there are other themes that are brought out upon keen reading. Some of these splinter themes illustrate the impact of finding out that management needs to be alert for various roles including accountability.
Modern business practices will increasingly be altered by the influx of technology and innovations that define present operation and technology levels. It is therefore imperative that the management remains vigilant and alert to be able to react to changes in a sober and informed manner. Research from the market for instance cannot be replaced by any other operation since orientation is the best tool for market positioning. Using case studies in different perspectives, the management is able to learn useful tips of handling issues in future cases.
Works Cited
Bearden, W. O., Ingram, T, N. & LaForge, R. W. Marketing, principles and perspectives, New York, NY: McGraw-Hill, 2001. Print
Hartley, R. Marketing mistakes and successes, Hoboken, NJ; John Wiley and Sons, 2001. Print
IMF Cuts Global Growth Estimates
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IMF Cuts Global Growth Estimates
It is apparent that the global economy is sluggish this year. This has led the IMF to cut its growth projections and cautions of a deeper recession unless Europe implements appropriate measures to control its debt crisis. The IMF project that the global economy may develop by 3.3%, in 2012, which is lower than 3.8% growth rate experienced in 2011(Ian 1).It is highly probable that Europe will experience a mild depression in 2012, but the consequences may be more severe if the leadership in the euro-zone fails to curtail the increasing state borrowing expenditure and growing pressure on bank credit.
The IMF projects that, if the appropriate measures are not taken, it would lead to an average of a 4% drop in the euro-zone economy in 2013 and 2014. It would also lead to a 2% points drop in regard to global productivity this year.
The global economy has not yet fully recovered, following the recent financial meltdown, and continues to warn of potential stalling of the global economy. According to the chief economist at the IMF, the global economy may experience another meltdown in the event that the European economic crisis deepens (Ian 1). It is apparent that there is a high degree of apprehension at the IMF in regard of a potential collapse of the global economy, if appropriate measures are not put in place. The euro-zone leadership ought to enhance the magnitude of the region’s debt-crisis firewall, execute pro-growth policies and integrate the IMF more closely.
In some of the euro-zone biggest economies, funding costs are realizing levels that have never been witnessed since the launching of the European Economic and Monetary Union. In the event that Europe speedily adheres to the recommendations provided by the IMF, it is expected that the region may experience a 0.5% reduction this year. The IMF sliced off 1.6% points from its previous projection for this year in September. This reflects the worst-case scenario, which is envisaged following sharp escalation of risks in the last three months of the year, when the debt crisis experienced a risky new phase. In this context, the IMF expects the region to experience growth next year (Ian 1).
Greece is expected to default in due course. Italy and Spain are currently in the market’s target, while the IMF cut its 2012 projections for the two countries. The IMF alleges that Italy is experiencing a 2.2% reduction while Spain, a 1.7% plummet. The two countries are projected to persist in recession through out 2013. The IMF has commended the initiatives of several euro-zone members in reducing their debt burdens as well as bloated budgets. It has however cautioned against further near-term reductions that could degenerate their economic problems (Ian 1). Governments ought to keep away from responding to any unforeseen recession in growth by tightening their policies further considering the huge adjustment anticipated this year. The advanced economies, such as Japan, the U.S., the U.K. as well as the euro zone, are estimated to develop by 1.5% on average up to 2013. This kind of growth rate is too slow to accomplish any major impact, in regard to the high levels of unemployment.
Economic growth in the developing and emerging economies has become sluggish as the banks in Europe spend less overseas. The IMF anticipates that those countries will develop as a bloc. The growth rates are given as 5.4% in 2012 and 5.9% in 2013, cutting more than 0.5% point off their growth projections. However, emerging economies may experience a major upset to growth. This would materialize if the credit as well as real-estate markets unwind. In a nut shell, the IMF anticipates that global economic growth would slow down but not collapse, and several advanced economies will avoid a second depression. However, this is forecasted on the postulation that in the euro region, the policy makers will strengthen their efforts to deal with the crisis (Ian 1).
According to the IMF the euro zone should double its crisis bailout fund, referred to as the European Financial Stability Facility. The IMF expects the G twenty group of industrialized as well as developing countries to enhance the fund’s lending capacity to above $1 trillion. In this way, Europe may utilize its bailout fund to assist in boosting the banks’ cash levels as well as sustain its euro-zone costs of financing down while the IMF bails out failing economies (Ian 1).
Discussion
This paper is categorically opposed to the IMF cuts in global growth estimates. The fundamental role of the IMF is to recognize the contingent dangers that would threaten global financial and economic stability as well as to develop appropriate policy responses. However, the austerity programs initiated by the IMF are usually controversial, since they tend to generate adverse impact on the low income segments of a country’s population. In numerous situations, these programs are executed by countries that were formerly under despotic regimes. This leads to a scenario whereby the populace is forced to refund the debts of their f despotic regimes.
It is on record that in 2009, through to 2011, students and workers in Greece the euro-zone demonstrated against these cuts as a result of government austerity measures. This paper is of the opinion that, these IMF measures are inclined towards depressing economic growth. This would finally cause countries to lose extra funds in tax revenues. In order to substantiate these points, it would be vital to reflect on the impact of such measures in Spain and Ireland. In these two countries, such measures were established in response to financial meltdown in 2009. However, they proved futile in fighting public debt, and placed the two countries at risk of default late 2010.
Works Cited
Ian, Talley. “IMF, Warning on Debt Crisis, Cuts Global Forecasts.” Wall Street Journal. 25 Jan. 2012. Web. 25 Jan 2012.
five types of equipment used to determine tidal measurements.
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Geology
Identify five types of equipment used to determine tidal measurements.
A tide staff refers to a tide gauge that constitutes of a vertical staff from which a geologist can directly read the height of a tide. There are two types of tide staffs, a fixed staff and a portable staff. A fixed staff is one that cannot be easily removed and hence it is secured on one place. On the other hand, a portable staff can be removed from water when not in use.
Self recording tide gauges refers to an instrument that measures changes in sea level in relation to a datum. There are different types of tide gauges, such as: Kelvin type gauge, Fuess type gauge, Geographical Satellite Information (GSI) type gauge, High Accuracy Automatic Tide Gauge and High Resolution Automatic Tide Gauge.
RBRs loggers measure tides and waves. They measure the tide pressure. RBRs are accessible in various configurations such as: the RBR Virtuoso and the RBR Duo.
Radar Tide Gauge Recorder is an instrument that has the capacity to register an array of environmental factors of wind (direction and speed), space, temperature as well as humidity. The device can either be installed permanently for port businesses or can serve the function of a portable device.
A stilling well and float is a device designed in a manner that when hit by water waves, it stills the waters and only lets the energy possessed by the water waves to pass through it, thanks to its mechanical design. The filtered waves are then measured to determine scalar and vector quantities of the wave.
What are the features of potential sources of errors for the equipment?
The tide staff system cannot be transported from one place to another safely and without any trouble. It is therefore not suitable for making short-term tide measurements from one place to another. Besides, the tide staff system requires that a structure for erection of a tide-well and related components be constructed, prior to its installation. Furthermore, the tide staff system requires a long tube to guide the tide staff which is impossible in areas where the wind force keeps increasing.
Tide gauges face a number of difficulties in monitoring long term sea levels. Due to its features of internal memory, having a sensor, and dependence on power, it may experience technical problems. Some of these challenges include: tide gauge errors, datum errors, analysis errors as well as geophysical effects. Tide gauge errors include: technical issues like gauge setting and clock errors as well as accumulation of sediments in the stilling well. Datum errors may also arise as a result of anthropological related factors. If these errors are not corrected, they can completely invalidate the log of sea levels. Geophysical factors such as isostatic adjustments and tectonic movements affect the viability of results of the tidal gauges.
The utility of the RBR systems such as the surface recorder, the sea bed recorder and software are prone to failure. The failure of RBR software for instance, may lead to the storage as well as the transmission of inaccurate data to the geologists. Therefore it is advisable that this equipment be kept under constant maintenance to achieve the desired results. The RBR Virtuoso mainly runs on computerized systems which require electricity to run. In case of a power shortage, the RBR cannot register any tidal measurement necessitating the need for power backup.
The stilling well has a cylinder shaped cage installed within a tank to protect level instrumentation, like the displacer from fluid agitation which would lead to measurement error. It should be perorated so as to ensure the level of the stilling well is always uniform. There should be an adequate gap between the well and the displacer to avoid the liquid being clogged in between. The utility of Stilling well however does not guarantee 100% accuracy at all times. Failure of the mechanical system of the well may adversely affect the anticipated results. Conventionally, just like any other mechanical equipment, it is associated with mechanical breakdowns. The radar tide gauge recorder also experiences a similar problem. Besides, its utility may also be reduced if water clogs between the displacer and the stilling well. A good stilling well should therefore have a large aperture between the stilling well and the displacer.
What is the procedure to incorporate that information into the reductions of soundings, including connection to sounding datum?
Sounding datum refers to the depths recorded on nautical charts from selected sea and water levels. Generally, the reduction of sounding depends on the surface elevations as recorded in the gauge. It is quite a similar principle of determining a sounding datum. In this case however, transfer of water is dependent on a single reading at the ending of the line. It also does not benefit from the average of the previous readings. It is for this reason that in order to obtain accurate sounding reductions, the sounding region should be close to the control gauge. Determining the distance from the gauge beyond which this sounding should not be performed is difficult as the decision must consider factors of the needed survey accuracy, the slopes of the local surface which are affected by wind, river discharge and seiche among others. Sounding data is important on offshore gauging, non tidal waters as well as cotidal charts.
However, when the sounding datum cannot be obtained from the already existing bench marks (BMs), it may as well be determined by transfer of water from a location close to the gauge operation. The accuracy of this method depends on a set of heights which are obtained when the tide range is high. The gauge should be examined daily as this will be to ensure that no installations have been tampered with by the tides. For instance the gauge shelter, the staff gauge, the pressure sensor should all be inspected. The data is recorded in the comparison forms, leveling sheets as well as the gauge data forms for interpretation.
Works Cited
Hannah, John. An Updated Analysis of Long Term Sea Level Change in New Zealand. Geophys. Res. Letters. 2004.
Pugh, Danny. Changing Sea Levels, Effects of tide, Weather and Climate. Cambridge University Press. 2004.