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Principles of marketing in Mini Cooper
Principles of marketing in Mini Cooper
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Principles of marketing are very essential for every successful business’ marketing strategy provision of superior quality as well as value products play a major role in customer satisfaction. It is equally important to provide excellent services and to be innovative. Innovativeness provides differentiation and uniqueness in a product. Importantly, a business should thoroughly understand their competitors in the industry to maximize on their weakness and to understand their consumers through market research capabilities. Mini Cooper’s marketing strategy includes digital marketing initiative, branding and maintenance of ethical values as well as the fact that it strategizes on her historical iconic image of Mini for the UK. The company utilizes IT and social trends worldwide which includes digitalized marketing and social networking to reach their customers (Report Mini 2011, n.p). This reflective form of writing analyses the marketing strategies employed by Mini Coopers.
BMW Group that includes Mini Cooper is a multiproduct manufacturing company that enjoys a huge market share particularly in the US and many other regions such as Europe and Asia. Mini car has some special features such as unique interior design, drivability and is very economical due to its mini features that results into low fuel consumption (MINI 2013, n.p). Mini Cooper is amongst the most fun to drive models and has much bigger room than in its less space. The unit sales for the Mini car have been on the rise annually since 2002 and an increasing trend in the units sold for the same period of four years. It is therefore likely that there would be growth in sales and better performance in future (Report Mini 2011, n.p).
Mini Cooper cars also have outstanding cornering abilities as well as stable brakes, which makes its overall performance great compared with other competing brands. Additionally, the car USB port, Bluetooth and HD radio as well as optional infotainment and navigation systems. The four seat 2013 According to Report Mini (2011), Mini Cooper is available both in Hardtop and convertible models incorporated with very powerful engine in the model line. Moreover, the car has nimble handling and a bumpy ride as well as petite dimensions making it suitable for parking on a congested urban street (Richard 2013, p. 1-2).
Mini Cooper’s commitment to provide superior quality and excellent services to their consumers is evident in their strategic vision of allowing safe drive and giving their product a personal touch as well as environment preservation measures. The car is made up of durable materials and is currently top of the range, small and urbanized. The Mini Cooper’s brand image has been style, practical implication, originality and a hybrid car. The company uses online and direct promotion as well as television and cinema ads to reach their target market (Madslien 2008, n.p).
Considering the SWOT analysis of MINI, several internal and external factors influence the car is marketing strategy. Looking at the strength, the MINI is its own niche since there is no any other brand that offers unique style as the MINI. The company has enjoyed this strength since the launch of the car regardless of increased rivalry in the industry. The Mini Cooper customers are very loyal and enthusiasts because they take pride in the uniqueness and the originality of the car (MINI 2013, n.p). Mini Cooper enjoys originality in its initial flare coming from the outstanding quantity of the customizable options.
Nevertheless, the car has some weaknesses that include its small size. It is apparent that despite the car’s great performance, most people are never comfortable and do not feel confidence in its size. The car’s style is just superb and this may intimidate consumers forcing them to believe that it is more costly. This does not actually imply that Mini Cooper must be bigger and perhaps cheap looking, instead there should be improvement on the way it is perceived by people. The car is very great and no person should be excluded from owing it because of the perception. Moreover, Mini Cooper experiences strong competition in small car segments (Evans-Pritcherd 2010, n.p).
There are a number of opportunities available for Mini Cooper such as the chance of reaching everyone and highlighting diversity and originality, which defines it. It interesting to note that Mini Cooper is not trendy but a trendsetter in the market, as it is liked by anyone wants to celebrate the difference and the originality. Mini Cooper appeals to a wide range of people for a number of reasons because of its design, function and personality diversity (Report Mini 2011, n.p).
Mini Cooper also has an opportunity to carry out campaigns and educate car buyers on the significance of owning the car as this will enable a large number of people to make positive decision of buying it. Nonetheless, there are threats that Mini Cooper including the fact that it appears too trendy in the eyes of the consumers and that it may turn out to be a car that belongs to a particular group of buyers. This may be risky because all the potential car buyers may be driven away from buying the car (Richards 2011, n.p). There are also rising competitors in the small car market, which experiences faster expansion and growth.
Mini Cooper has more dominating strengths that it can perfectly use to boost its sales via effective promotional activities. The company should therefore adopt a new and effective advertising agency, which can attractively highlight the car’s features and significance. It is definite that proper marketing strategy will increase sales and expand the market share due to increased brand awareness amongst the target market. The company should strategize on expanding their market coverage through exploring new markets such as Asia as well as developing global marketing.
Additionally, the company need to focus on market development, developing e-Business as well as diversification as expansion strategies. Mini Cooper should further adopt effective promotional tools such as advertising using print media, direct mail, internet advertising, event marketing, sales promotional schemes and public relation and publicity, which should focus on the main idea of the art of motoring. Moreover, the company should ensure they improve on internal and external customer needs in the industry and concentrate on the industrialising countries whose demand for cars have gone high.
Bibliographies
Evans-Pritcherd, A 2010, Exchange-Rate Effect Has UK Manufacturing Humming, Retrieved 30 November 2013, Http://Www.Telegraph.Co.Uk/Finance/Newsbysector/Industry/7970850/Exchange-Rate-Effect-Has-UK-Manufacturing-Humming.Html
Madslien, J 2008, Car Companies Look Beyond Recession, BBC News, Retrieved 30 November 2013, Http://News.Bbc.Co.Uk/1/Hi/7674505.Stm
MINI E 2013, Retrieved 30 November 2013, Http://Www.Mini.Co.Uk/Model-Range/Miniefficiency/Product/Mini-E/ Report Mini E 2011, Retrieved 30 November 2013, Http://Minie2010.Wordpress.Com/Target-Group/
Richard I 2013, Beat The Congestion Charge Change With A New MINI Cooper D, Business Car Manager,Retrieved 30 November 2013, Http://Www.Businesscarmanager.Co.Uk/Beat-The-Congestion-Charge-Change-With-A-New-Mini-Cooper-D/ Richards, T 2011, Mini 4×4 Patent Images Leak Out, Retrieved 30 November 2013, Http://Www.Autocar.Co.Uk/Car-News/New-Cars/Mini-4×4-Patent-Images-Leak-Out
The externalities that define any economic system
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Externalities
The externalities that define any economic system are those environmental, social, and health costs and benefits which the producers, consumers, or governments do not fully account for. It is a fundamental aspect of the concept of an economy to make sure these sorts of externalities are accounted for.
In micro-economics, these include:
– Indirect costs such as pollution and resource depletion
– Direct costs such as medical care and accidents.
– Side effects such as inflationary pressures due to spending on goods with essential effects on others.
For example: when we buy a car that pollutes the air, we do not pay to repair this pollution because it is not considered in our cost calculations. Therefore we are not taking into account the external costs to others.
Greenhouse gas emissions are an example of a negative externality in microeconomics. The greenhouse effect occurs when carbon dioxide and other gases emitted by human activity into the atmosphere trap radiant heat that would otherwise escape from Earth’s surface. The term greenhouse gases are applied because the gases are believed to act like the glass in a greenhouse, thereby preventing heat from escaping. When these emissions go untreated, it leads to a disruption of the normal climate cycle.
The causes of climate change have been debated for years now. It has been argued that climate change is caused either by natural processes or anthropogenic factors. Many scientists believe that the causes of climate change are entirely manufactured. Greenhouse gas emissions have been proposed as one of the main reasons for climate change.
The economic value of “greenhouse gases” arises from the fact that greenhouse gases are part of a negative externality, where a private actor is imposing costs on other parties (the “public”) without their consent. The most important groups to whom the externality imposes costs are, in particular, future generations who may suffer from permanent damages due to inaction on emissions, and future generations because they will bear the costs through increased prices.
Negative externality: In economics, a negative externality is a cost imposed by an economic agent upon other agents without compensation or benefit to those affected. One of the overlooked externalities of production is that it increases carbon emissions. Carbon emissions are used to illuminate our homes, drive our cars, and perform many other tasks part of the modern-day. The increased carbon dioxide in the atmosphere is causing an increase in global warming and global climate change. These changes alter weather patterns and cause more violent storm events like hurricanes and tornadoes, which can damage infrastructures.
The companies that produce and use these products, like fossil fuels, are the ones who must take part in the costs associated with global warming. The production of these products uses up a lot of natural resources. Fossil fuels are non-renewable resources because they originate from plants and animals that used to be alive but are now extinct. As more fossil fuels are extracted and burnt as fuel, they become non-renewable while also contributing to pollution. The production process also adds other chemicals to the air, pollution but can’t be seen or smelled. This leads to acid rain, which damages trees and plant life, further destroying our environment. The more fossil fuels produced, the more carbon is put into the atmosphere, which leads to a tremendous increase in global warming and climate change.
In addition to this, there are also other effects of lead emissions from fossil fuel production. As with carbon dioxide, lead gas leaks out of vehicles and coal-fired power plants. This gas can be inhaled, which causes damage to the unborn fetus, or can be absorbed by food and water, causing children to grow up with learning disabilities or other health effects.
Carbon dioxide, methane, and nitrous oxide are the most significant contributors to global warming. It’s not just that these gases get released into the air from a car or factory; they’re also created when animals or decomposing produce release methane gas as they break down naturally. When people cut down trees in forests, it leaves them carbon-deprived, which means there are fewer trees to absorb carbon dioxide from our atmosphere, so it doesn’t just go away!
Each year increases in population and consumption create an increasingly more significant demand for energy sources that emit more greenhouse gases. So we must find ways to reduce the amount of pollution in our atmosphere because we’re creating more than our planet can naturally reabsorb right now it also affects the economy as shown in the graph below.
In conclusion, there are many benefits to reducing greenhouse gas emissions, such as helping with global warming and lowering the risk of extinction. Overall, greenhouse gas emissions are externalities in microeconomics, thus making it more difficult for people to protect themselves. Strategies should be implemented many strategies that reduce their initial effects. Those strategies include adaptation, relocation, and other methods that can help decrease the harm caused by climate change.
References
BIBLIOGRAPHY Besanko, D. &. (2020). Microeconomics. . New Jersey: John Wiley & Sons.
Jaccard, M., Loulou, R., Kanudia, A. N., Bailie, A., & Labriet, M. (2003). Methodological contrasts in costing greenhouse gas abatement policies: Optimization and simulation modeling of micro-economic effects in Canada. Optimization and simulation modeling of micro-economic effects in Canada. European Journal of Operational Research,, 148-164.
Pearse, R., & & Böhm, S. (2014). Ten reasons why carbon markets will not bring about radical emissions reduction. Carbon Management,, 325-337.
Sunstein, C. R. (n.d.). Internalities, Externalities, and Fuel Economy., 2020.
The Extent to which Punitive Policies and Attitudes associated with the USA have been replicated in other European Countries
The Extent to which Punitive Policies and Attitudes associated with the USA have been replicated in other European Countries is Overrated. Discuss.
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The Extent to which Punitive Policies and Attitudes associated with the USA have been replicated in other European Countries is Overrated. Discuss.
Punitive policies and attitudes have been an important subject of discussion, especially in relation to the countries that have the characteristic of a multiracial society, like the US. Looking at the United States, for example, crime trends, attitudes and perceptions towards tough punitive policies differ greatly along racial lines. Indeed, in America, criminological research statistics show that the people of color are less punitive as compared to the white Americans. The attitudes and perceptions towards punitive measures are also highly influenced by policy-makers and the media. Similarly, most European countries have their media and the politicians inciting the public to support more punitive policies, and attitudes towards particular groups portray the criminal justice system as selective. Although there are similarities between the two societies, the European society seems to have their attitudes and punitive policies fluctuate as affected by certain parameters such as economic insecurity and the danger of crime. Apparently, the European society has emerged to become as punitively selective as the American society, especially in the media and the politicians. It is, therefore, false to argue that the replication of American punitive policies and attitudes in the European countries has been overrated.
A number of similarities in perceptions and punitive policies between the European and American society support the position that this essay has taken. In the American society, the white Americans have been found to be more punitive as compared to the people of color (The Sentencing Project, 2014, P. 3). Indeed, the Blacks and the Hispanics are less punitive than the Whites. Indeed, the Whites often misjudge the crimes committed by the Latinos and blacks, and they feel that these groups should be punished more severely (Green, Stearkle & Sears, 2006, P. 437). On the same note, Monterosso (2009, P. 14) observes that the whites who have a tendency of associating crime with the people of color are more likely to support punitive policies. It is arguable that the criminal justice system of America is very selective. According to the Justice Sentencing Project (2014), the media contribute greatly to promoting selective attitudes and punitive policies. Indeed, media programs over-represent the Blacks and Latinos as crime suspects, while they portray the whites as the victims to the criminal activities. For this reason, the criminal justice system and the public safety system have been undermined by these racial perceptions.
The situation with these perceptions is very similar in the European countries, a fact that shows that the replication of punitive policies and attitudes associated with the Americans has not been overrated. There is a tendency to view the people of color as crime suspects among the Europeans, although the trend fluctuates and is influenced by various factors, and is different between the society and the media and politicians. According to Monterosso (2009, P. 14), harsh punitive policies in the European countries are spread mostly by politicians and the media. The politicians spread such public outcry in a bid to win the people and gain their votes. Monterroso observes that the punitive policies are selective and meant to punish the members of the minority races, and are more inclined to allaying the fear of crime among the populace.
Another factor that supports the position of this essay is the commonality in the media discourse fuelled by both the European and the American media. Monterosso (2009, P. 18) connotes that the media in the European countries have been fond of fueling discourses that are aimed at criminalizing the members of the communities seen as disadvantaged. Indeed, Costelloe, Chiricos and Gertz (2009, P. 26) reiterates that the criminology of seeing the members of a particular ethnic group as the criminals is not based on research, but images, anxieties and stereotyping.
The ‘moral street-sweeping’ notion is evident both in the American and European society. Monterosso (2009) argues that such a movement is made up of people who just want to displace their anger on people of black and other minority origins. A similarity in the two societies is that, in both the US and the European countries, the minorities live in poverty stricken areas, separated from the suburban areas. It, thus, becomes easier for them to be targeted. An example of a European country that has emerged entirely punitive is Britain. According to Monterosso (2009), the punitive nature of the British has emerged due to the need to focus on the effects of the crime on the society, victims, and citizens. Previously, the system focused on the causes. Indeed, just like the American society, the Europeans have of late adopted a punitive approach to crimes rather than the preventive approach. The language has completely turned punitive rather than preventive. In most of the European countries, policy-makers have inclined to a belief system that suggests that a zero-tolerance for crimes and a more punitive policy will restore and maintain public trust (Kury & Shea, 2011). As a result, the European society has appeared to move away from some crime preventive measures such as the juvenile justice systems, probation ad parole. For instance, following the general election of Britain in 1979, the conservative Prime Minister, Margaret Thatcher instituted a more punitive approach in the criminal justice system. The move brought in a criminology system of beliefs similar to the American one. The American society has not been different, with the US remaining the world’s major democracy that still practices the death penalty in its criminal justice system.
In conclusion, the replication of American associated punitive policies and attitudes by the European countries has not been overrated. Indeed, it is true that the European countries are popularizing the notion of punitive policies against crime than preventive policies. In the American justice system, attitudes towards the minority groups such as the African Americans and the Latinos are prevalent, undermining the public safety aspect. Similarly, the European society has been characteristic of a media and public opinion that is biased against the ethnic minorities. In the past, the European countries such as Britain adopted a more crime-preventive approach characterized by juvenile strategies, probation, and parole. However, the recent developments in the justice system have seen the policy-makers adopt a more punitive approach. The replication of American punitive policies and attitudes in the European countries has, therefore, not been overrated.
References
Costelloe, T.M., Chiricos, T., Gertz, M., 2009. Punitive attitudes toward criminals: Exploring the relevance of crime salience and economic insecurity. Punishment and Society, 11(1), 25-49.
Green, E.G., Stearkle, C., & Sears, D.O., 2006. Symbolic racism and whites attitudes towards punitive and preventive crime policies. Law and Human Behavior, 30(4), PP: 435-454.
Kury, H., & Shea, E., 2011. Punitivty-International developments: Insecurity and punitiveness. Buchum: Brockmeyer Verlag.
Monterosso, S., 2009. Punitive criminal justice and policy in contemporary society. QUTLJJ, Vol 9, No 1, pp: 13-25.
The Sentencing Project., 2014. Race and punishment: Racial perceptions of crime and support for punitive policies. Washington, DC: Author.