Marketing budget.

Marketing budget Setting the marketing budget Sales forecasting Producing a sales forecast Test marketing Why might forecasts be wrong? The reliability of forecasts Questions Marketing budget A marketing budget is a quantifiable target which is set by a firm and which relates to its marketing activities. It may involve a target level of sales for a particular product (a sales budget) or set out the amount a firm intends to spend to achieve its marketing objectives (an expenditure budget). The sales budgets may include targets for the absolute level of sales a firm would like to achieve, or for a desired level of market share; they may also include targets for particular regions or for particular types of customers or distribution channels. Marketing expenditure budgets, by comparison, set out the desired amount of spending on activities such as advertising, sales promotions, paying the sales force, direct mailings and market research. The size of the sales budgets is likely to depend on: * The level of sales a product has achieved in the past; a firm may extrapolate a future sales target based on past trends * The expenditure budget; a firm may set a higher sales target if it is also intending to spend more on its marketing activities * Market conditions; actions by competitors and the state of the economy, may affect the firm's expected level of sales *

  • Word count: 2371
  • Level: GCSE
  • Subject: Business Studies
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Mc Donalds Homework

Mc Donald's Homework .When did McDonalds open its first restaurant in the UK? In the UK McDonald's opened its first restaurant, in Woolwich, in 1974. Initially all of our restaurants were owned & managed by the company. However, we started recruiting franchisees in the mid-1980's and opened our first franchise restaurant in 1986. Since that time the number of UK franchisees has steadily grown. Today over 37% of our 1,200+ restaurants are operated by franchisees. 2.How many customers do McDonalds serve each day on average around the world? McDonald's restaurants are found in 120 countries and territories around the world and serve nearly 54 million customers each day. 3.Give two characteristics that McDonalds look for when deciding whether to give a franchise? In addition to ordinary franchise fees, supplies, and percentage of sales, McDonald's also collects rent, partially linked to sales. As a condition of the franchise agreement, the Corporation owns the properties on which most McDonald's franchises are located. 4.What are the three main requirements that you need to have to be a McDonalds franchisee? Franchisees must undertake an extensive training programme of approximately nine months before they are proposed a restaurant franchise. This training is unpaid. McDonald's do not charge for the training. The training programme is very much the bedrock approach to

  • Word count: 1124
  • Level: GCSE
  • Subject: Business Studies
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Marketing Strategy and environment.

James Heavey Marketing Strategy Assignment 1 Nov 2002 "As the market environment changes, managers have to adapt their strategies and organisation. Unless these changes are made, the business will no longer fit the needs of the moment - it will be made obsolete by changes in customer wants, new technologies and new competitors that have adapted more effectively" (Doyle, 2002, pp. 405-406) Introduction: The marketing environment is a complex constellation of demands and constraints that a firm faces as it attempts to compete and grow. These can be both external and internal. The firm has the power to directly affect some but, by no means, all of the areas in the environment. Those areas beyond the firm's control are constantly changing in various ways, it is the responsibility of the firm to take notice of and bring on board any successful changes or advances made in the industry. In the same way they need to identify problems affecting the industry as a whole and react accordingly to minimise negative effect. Consumer satisfaction is the ultimate goal of the marketing environment. Method: The marketing environment surrounds the consumer and the marketing mix. Consumers and businesses are affected by the forces of the marketing environment. Businesses must determine a marketing strategy, implemented through the aspects of the marketing mix, which aims to

  • Word count: 2773
  • Level: GCSE
  • Subject: Business Studies
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Elements of Art. 81

Art. 81 * Art. 81 is a fundamental provision which is essential for the accomplishment of the tasks entrusted to the Community and, in particular, the functioning of the internal market. * Single market concerns have played a crucial part in the development of the Court's jurisprudence and sometimes this formalistic approach has been to the detriment of economic efficiency considerations. * In interpreting the provision the Court adopts a teleological approach construing Community acts in accordance with the broad system of Treaty aims and objectives set out in Art 2 and 3. * An appreciation of the tension between market integration and economic efficiency, and the close relationship between competition rules and the free movement of goods begins with the Court's seminal judgment in Etablissements Consten SA and Grundig v Commission. It confirms that market integration lies at the heart of art. 81. Art 81 does not only apply to horizontal but also to vertical agreements. Critics of the judgment consider that the existence of market power ids the real issue and argue that inter-brand competition would prevent Grundig's products from being sold at a high price. In Societe Technique Miniere the Court confirmed that market analysis is not necessary where the object of the agreement is clearly to restrict competition. Elements of Art. 81 Undertakings * This will include

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  • Level: GCSE
  • Subject: Business Studies
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Self Managing Work Teams(SMWT) - Critically review the published literature on Job Design and SMWT's and use this review to evaluate Sidney's introduction of the teams in his organization.

Job Re-design at HI - Tech Question: Sidney Lau had made a big change to the way work is done in his company -by establishing Self Managing Work Teams(SMWT). Critically review the published literature on Job Design and SMWT's and use this review to evaluate Sidney's introduction of the teams in his organization. Facts Of The Case: * 10 year old corporation with diversified product lines * Has grown from a small family owned business into the above diversified corporation. * Well defined product lines with distinct manufacturing and assembly lines * Evidence of logical assembly line work flows based on product lines * Evidence of patriarchal management style Relevant Theories that will apply to this Case: Maslow's Hierarchy of Needs Abraham Maslow proposed that humans have five universal needs that they seek to satisfy, and these needs are proposed in a hierarchy of importance, with the most basic needs- physiological and safety needs at the bottom followed by belongingness needs, Esteem needs and Self-actualisation needs (Langdon & Marshall, 1998, P. 90) He arranged these into a series of different levels or the order of importance of these basic needs. Man's basic needs are physiological, for example, hunger, thirst, sleep, etc. When these are satisfied they are replaced by safety needs reflecting his desire for protection against danger or deprivation. These in

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  • Level: GCSE
  • Subject: Business Studies
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Online business case studies - JDsports, ASDA and Subway

Unit 8 doing business online The three businesses because I have chosen are: * JDsports website: Jdsports.co.uk * ASDA website: asda.co.uk * Subway website: subway.co.uk ASDA is Britain's best value retailer; it became part of the Wal-Mart family in June 1999. ASDA was formed by a group of farmers from Yorkshire and now has 321 stores and 29 depots across the UK.ASDA have over 300 stores and 148,000 colleagues nationwide. ASDA isn't run for profit. ASDA has two charity voluntary organisations, which are http://www.corporatewatch.org.uk/?lid=800 http://walmartstores.com/FactsNews/NewsRoom/4100.aspx National Blood Service * ASDA went into partnership with the National Blood Service in 2004 which coincided with Worldwide Blood Day. Since then stores have been arranging blood donor days for colleagues and customers in the bloodmobile in ASDA car parks. * Being a blood donor is a valuable service to the community and helps to save lives. Each day 10,000 donations of blood are needed nationally to meet hospital demand and currently only 6% of the eligible population donate. Blood donations help save lives in surgery, road traffic accidents, and treat cancer patients and burns victims. ASDA Foundation ASDA

  • Word count: 1660
  • Level: GCSE
  • Subject: Business Studies
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Molex and Human Resource Management

Touro University International Kevin J. Hall (5332) Bus401 International Business Module 3 Case Assignment Professor: Dr. Anastasia Luca Molex and Human Resource Management As today's global economic evolution stirs interest in worldwide expansion, the ongoing information revolution is shrinking the market place through a global business environment. This environment, a tossed salad of cultures, must be nourished by building a human resource function that is flexible, adapt, able, and focused on attracting, motivating, mobilizing, and retaining global human capital. The alignment of key human resource functions more closely with overall corporate strategy enables theses businesses to greater capitalize on people: the greatest, most important asset of a company. This is where Molex leads the way. Molex is a plastic material developed by the late Frederick August Krehbiel. In 1938, he founded the Molex Products Company in Brookfield, Illinois to manufacture a variety of products from this material, including clock cases, flower pots, valve wheels and salt tablet dispensers. In 1940 one of Frederick's sons, John H. Krehbiel, Sr., joined Molex and soon recognized the importance of this material's excellent electrical insulating properties. Later in the decade, Molex added metal stamping to its molding processes, resulting in its first connector assembly. In the 1950s,

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  • Level: GCSE
  • Subject: Business Studies
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HUMAN RESOURCES MANAGEMENT

HUMAN RESOURCES MANAGEMENT MODULE ONE ASSESSMENT The lack of attention to international human resources management has cost many millions of dollars to MNCs and yet this has been a neglected area in the profitability equation. Explain the assertion under the following headings: TABLE OF CONTENTS Introduction The International manager Management Recruitment and Selection Process Management training Foreign Posting Compensation Manpower Differentials in Foreign Markets Repatriation Summary Induction Few executives would argue with the fact that people are vital for the effective operation of a company. Managers often say that people are their most important asset. Yet the human assets are virtually never shown on the balance sheet as a distinct category, although a great deal of money is invested in the recruitment, selection, and training of people. Recent theoretical work in business strategy (Patrick, 1998) has given a boost to the prominence of human resource (HR) in generating sustained competitive advantage. The world is becoming far more competitive and volatile than ever before, causing firms to seek to gain competitive advantage whenever and wherever possible. As traditional sources and means such as capital, technology or location become less significant as a basis for competitive advantage, firms are turning to more innovative sources. One of these is the

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  • Level: GCSE
  • Subject: Business Studies
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Assess three government policy measures to increase labour mobility

Assess three government policy measures to increase labour mobility (12) Labour mobility refers to the freedom of workers to practice their occupation wherever opportunities exist. This may mean changing occupation (occupational mobility) or moving to work in another area (geographical mobility). A lack of mobility is identified as a cause of structural unemployment. This is where mismatches occur and unemployed workers are unable or unwilling to fill existing vacancies due to the skills shortages- occupational immobility or shortages in particular areas-geographical mobility Governments use various measures to improve mobility .In the UK these include the New Deal, job centres and affordable housing schemes in certain areas of the country. The New Deal is a key part of the government's strategy to get people back to work. It gives people on benefits the help and support they need to look for work including training and job preparation. It also gives the unemployed the opportunity to develop the skills and experience that employers want so they can find lasting, worthwhile jobs. At the same time, New Deal aims to improve the overall skills base of the British workforce and provide help to employers whose businesses are suffering from staff shortages. Participants can receive intensive advice, counseling and guidance to help them find employment or can choose from four

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  • Level: GCSE
  • Subject: Business Studies
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Discuss the various problems human resource mangers faced in formulating human resource strategies/policies for their organisations with special reference to the article Involvement and Participation by Mick Marchington.

Discuss the various problems human resource mangers faced in formulating human resource strategies/policies for their organisations with special reference to the article Involvement and Participation by Mick Marchington. Human resource departments are beginning to adopt the "soft" side of human resource management where employees are more involved in their organisation. The old management style excluded or had very little involvement with their employees. Employees now have inputs in decision making and often giving ideas for organisational development. Once an organisation's objectives and strategies are determined, human resource management objectives are to evaluate on how to help the organisation achieving its objectives. The role of the human resource manager is to act as a contact between the employer and the employee. The human resource manager's job is to help employees achieve their set of criterions set by the employer. Achieving the organisation's objectives will depend on the success of formulating of policies and strategies by the human resource department/manager. The inability to do this means that the organisation will ultimately fail. Performance appraisal is evaluating how well an employee is doing his or her job. The appraisal process identifies training and development needs for those who are insufficiently trained. The appraisal process is also used to

  • Word count: 1875
  • Level: GCSE
  • Subject: Business Studies
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