Advertising in newspapers and magazines
Advertising in newspapers FLE's objective is to increase visitor numbers, so advertising in newspapers might be a good was to help achieve this FLE could consider advertising in magazines. There a number of advantages to advertising in newspapers, for example the advert might be publish is somewhat flexible in terms of size and colour; if they want a large advert this is doable in a newspaper spread rather than a small magazine, also, if they want a black and white picture, it will be more acceptable in a newspaper rather than a magazine. Also, it might be cheaper as the paper they use in newspapers is inexpensive compared to the glossy paper used in magazines. Newspapers have a wider circulation than magazines also, more people read newspapers than they do magazines; this is good for FLE and could lead to an increase of visitor numbers as more people would be exposed to FLE's advert. For example, 3,128,501copies of The Sun are bought daily. However, about 7,986,000 read the newspaper daily; this is because more than one person can read the one newspaper. Advertising in newspapers is quick; this is because they tend to be released daily. If one day, FLE see a promotion advert from their competition in a newspaper they are able to respond quickly with an advert of their own. Newspapers are also targeted, for example, The Sun is targeted at men and therefore had more male
Customer service is providing service and information to customers, before, during and after the purchase of a product.
Customer Service Customer service is providing service and information to customers, before, during and after the purchase of a product. There are two types of customers, internal and external. . An internal customer is someone who works for the company itself, and knows about the products well. When an internal customer calls or we call them to sell a product, it is very easy to handle and understand them. When they have any enquiries, it is easy to talk to them, because they know what they talking about. 2. An external customer is someone who does not know much about the company or the products. We need to provide them a lot of information and inform them about all the features and benefits of purchasing a product. We need to work harder and make them aware of our best products. Furthermore, customers can be inbound or outbound. . When customers call on our inbound line, they have control on what to buy or not. It is easier to sell to them. Also, if they are happy with our service and products, they call us more often and encourage other customers to call us. 2. When we call customers from our outbound line, we advertise our products so we need to be convincing to the customers. It is harder to promote products because sometimes customers are not ready to buy. Next is the concept of USP. Customer service must show Unique Selling Point so that customers use only
Birmingham International Airport - Competitors
Like any other airport, Birmingham International has enough competitors that want their own share of its market. The theory is the bigger the better, and better = more profit. This means that BIA will keep having to continually renew their prices so that they stay ahead of the market, and cause their opposition to loose out. I will now discover how BIA keeps ahead of their game, consistently from year to year. One way that BIA keeps ahead is making sure that the facilities that they offer are up to scratch at all times, and they constantly update them to meet demand, and maintain them if necessary (such as toilets etc). BIA have also displayed instances where they care for the customer, one by investing in the EuroHub tunnel, and the other by adding an 'Air-Rail' link to the airport, one of this have decreased the flight transfer times dramatically, and the other has made the travelling times lower than they were before. By creating and maintaining these type of facilities, they do not award their competitors the opportunity to beat them at their own game, and therefore will always stay on top, which has been proven in my other parts of work (how big they are). Referencing to the 'Master Plan' again, they are going to develop the airport fore dramatically which shows again they are always growing bigger, and reducing the opportunity for any other airports to get in edgeways.
Sainsbury's organizational structure.
Task 3 (E4, C2, A1) Sainsbury's organizational structure Businesses are structured into different into ways according to the way they operate and according to their culture. The structure of business can affect the way it works and performs. You need to understand the differences between the following types of structure: * Tall * Flat * Matrix * Hierarchical Flat and tall structure:- The term 'scalar chain is a rather old fashioned one and stems from the days when large organizations were bureaucratic, with lots of layers between the top and bottom. Scalar chain refers to the number of levels within the structure or hierarchy of an organization. The scalar chain set out the authority, responsibility and the framework that determined superior and subordinate relationships. The idea of setting out everyone's role and position is to make it clear who is responsible for what, and that there is clear line of authority. Matrix structure:- A matrix structure can be used to combine the grouping method we have identified. In such a matrix it is probable that each member of the organization will belong to two or more groups. A matrix is thus a combination of structures, which enables employees to contribute to a mix of activities. The matrix enables the organization to focus upon a number of aims at the same time, and gives it the flexibility to respond to new markets where
Concept of Supply
Describe factors affecting Supply and with the aid of diagrams, give scenarios of each case. There are many factors affecting supply and they must all be isolated and analyzed individually and under the ceteris paribus assumption; that is; all other factors remain constant. The determinants of supply can lead to contractions or expansions if supply depends on the price of the good itself, or increases and decreases if any other factor than supply. The market price of the good/service will influence the producer's ability and willingness to supply it. If the price of that good is too low, producers would not be able to cover costs of production and thus would not supply item. Generally, according to the law of supply, as price rises, quantity supplied rises and as price falls, quantity supplied falls. These contractions and expansions in supply are characterized by movements along the supply curve. The Price of other goods/service is another determinant of supply. The quantity of a good or service supplied at any time will be affected by prices of other goods and services. For example, if the price of a motorbike remained the same, while the price of scooter increased, it would become more profitable to produce scooters. Hence firms will be willing to supply fewer motorbikes and start producing and supplying more scooters. Future expectations will also influence the
Primary, secondary and tertiary classifications of a business.I will be using Tesco as an example.
Primary, secondary and tertiary classifications of a business. To explain to you what all those area's do I will be using Tesco as an example. Tesco is known for the food it sell and is now moving up by selling more and more every day. For example it has now started selling electronics they also offer many other Tesco is found everywhere in the UK making them a national company Primary: Tesco get's its food from farms around the country side. Farms grow the food and when they are ready they sell what they have grown. For example greens and meet like cow's sheep and many more. (The primary area produces raw materials or extracts raw materials from the earth) Secondary: The goods that have been bought from farms is then sent off to get produced to make food that is ready to eat or is ready to cook. At the factory they are prepared and packed up and ready to be sent to stores to be sold off. (The secondary area manufactures raw materials into finished products) Tertiary: The packed food is then bought by Tesco and then sent to near by Tesco stores. Tesco stores the goods in its where house. Where stays until it is needed. Tesco then puts the goods on show in their stores ready for us the consumers to buy them.(this is where the finished products are sold or shared to the public) Ali Ismail Group A
The Advantages and Disadvantages of a Command Economy or Free Market Economy
The Advantages and Disadvantages of a Command Economy or Free Market Economy There are many aspects and views how the government should control the economy and how much involvement they should have in the economy. In the UK we have a mixed economy which is when the government take control on various factors of the economy such as education, the National Health Service, and many others. Countries such as Cuba, North Korea, and China have command economies which are economies based on the government controlling the activities of the economy and allocating resources. For China this has proved to be a very successful method as China has one of the fastest growing economies in the world at present. The main advantages of a command economy is that services and goods provided are for the benefit of community and not to make profit and also these services or goods are accessible to anyone. Consumers benefit largely from a command economy as they have fixed prices and as it is all government run, it is operated securely, which is very reassuring to the public as they know they will not be deceived when buying good or services. Another advantage is having a low unemployment rate as the government can provide jobs which will increase GDP along with taxation revenue. However, there are also disadvantages to this type of economy, the major one is that there will be no competition as
Econmoic Concepts behind the uk oil industry
.Explain the following economic concepts in the context of the UK oil industry: a) Economic Resources b) Specialisation c) Money and Exchange d) Markets A. There are four types of resources available for use in the production process. These are land, labour, capital and enterprise or entrepreneurship. These resources are called the factors of production. With land it doesn't only deal with the actual land itself but all the natural resources about and below the land and sea. Land is split up into two types of resources, these are renewable and non-renewable, which then filter down further into sustainable and non-sustainable resources. Renewable resources are resources which once used are able to be renewed. For example fish stocks and forests. These are then only sustainable if even with economic exploitation, like fishing and commercial logging, the number of fish and trees don't diminish or run out. If for example it was found out that under the forest there is a large amount of oil then the forest would be totally cleared to make way for people to dig and collect for the oil. In this case the forest would have ceased to be a sustainable resource. Non-renewable resources are non-renewable in the fact that once used, will never be replaced. Oil is an example of a non-renewable resources as once it has been used, say for fuel for your car, there is no way to again use
Business Rise and fall
Over the recent years the economy has changed thoroughly there have been dips in the sectors of business and also rises. The two sectors that have become very unpopular due to lack of wage and no interest in the sectors are primary and secondary sectors. This is because the value for tertiary sector has become widely popular and more valuable in wage and also many other third world countries would rather do the primary and secondary jobs that were so popular during the Middle Ages. For example: - farming, mining, harvesting. Although these jobs are still around today they are less significant. The tertiary businesses nowadays are worth more because more wage more opportunities and also the education demands are getting a lot higher than they were 30 years ago and because of these more tertiary opportunities are becoming available to students leaving school. Also student nowadays have goals and thrive to get towards them and with the help of tertiary businesses they are able to pay their way through to achieve their own. The changes in the primary sector are due t o natural resources becoming available in third world countries. In these third world countries the poor are more determined to work for any possible wage. Whereas in the more economically developed countries example: - United Kingdom & United States of America these countries have more experienced resources and
HBS Case Study - Priceline.com
Priceline.com Business model In this unique model known as "demand collection system" the orders placed by the customers are fulfilled by the participating sellers. So the company essentially acts as a facilitator/agent intermediating payments between both the parties and provides the platform for bringing together of both the parties. Key features a. Services offered: Air lines, Hotels, Rental Cars etc b. Transactions were secured through credit card c. The company is the "Merchant of Record" in these transactions. This means that all payments are made to the Company which in turn pays to the seller. Any charge back that happens on the account of credit card payments has to be paid by company. d. The orders in the system once placed remained opened for some time and once accepted these could not be cancelled. e. The system required flexibility from customer's end with respect to their choice of brand, product features and sellers. f. Benefit o the customers: economical transactions g. Benefit to the sellers: incremental source of revenue Answer 1 The extracts of the annual report of the company indicates that the company recognizes the offer price paid by customers as revenue and the cost of services ordered as product cost. Price of the Plane ticket = $250 Amount of commission= 20% of the ticket price = $50 Therefore, Cost of ticket for the company = $250
