Why Everybody Is Talking About Economic Crisis Essay Topics...The Simple Truth Revealed

Why Everybody Is Talking About Economic Crisis Essay Topics...The Simple Truth Revealed What You Can Do About Economic Crisis Essay Topics Beginning in the Next 10 Minutes If you wish to think of the superior essay on microeconomics topics by yourself, the very first place you should search is the internet. In light of the it might be useful if you were able to explain to us why you regard the info and knowledge you've provided as confidential. The collection of effective and very good topics are a few of the first challenges faced by university students who must compose economics essays. The topics covered within this list aren't exhaustive which means there's a broad range of more exclusive areas that ought to be researched. Going through a number of cause and effect essay topics would quickly offer you a firm foot within this venture. The thing to keep in mind is that as soon as you know how to approach essays on economics correctly, you'll find the process interesting and actually enjoyable. Though some may see them as pretty complicated, they are a few of the most straightforward article ideas you will ever encounter. Don't forget that studying isn't always a critical matter and in addition, there are fun cause and effect essay topics you'll be able to refer to. Social issues concern almost every facet of the social order, and thus, in the event you've been assigned an essay within this field, you're in fact given the opportunity to pick from countless topics involving social facets. The environmental field is full of various facets and consequently intriguing cause and effect essay topics. You could struggle to discover the research which aids your argument, and you may also be second-guessing your own understanding. It is necessary for every man or woman to know about basic facts about economics. The Lost Secret of Economic Crisis Essay Topics Essay about financial crisis should outline the principal reasons of the crisis in the nation, its negative results on the financial increase and society well-being. Generally, every crisis provokes the recession in economy, which results in detrimental and drastic changes in the life span of the nation. A debt crisis happens when a country can't pay back or refinance its government debt with no external assistance. Introduction Economic crisis is a wide term used to refer to a variety of financial scenarios. There are quite a lot of facets that add to the growth of the financial crisis. It's only through such actions that the financial needs will shift to defend the environment from harm. There's a close connection between economics and company. Such programme would involve an effort to improve the domestic demand and so causing an expansion of the trade between countries. Citations and extracts from several sources have to be formatted properly. Topics for cause and effect essay could possibly be variable, but the paper presupposes that the author should do a great deal of analyses and discover the root of the problem under review, the explanations for it and the resultant outcomes. A little family essay tree what's architecture essay writing. To begin with, a good essay should clearly highlight its principal idea. In theory, it's easy to recognize the important elements of successful essay writing. Each bit of writing is prepared especially for every customer. You wish to continue to keep notes on ideas you have as you're writing. With this much content out there it's really easy to accidentally copy another work, in spite of the most creative essay ideas. Finding the correct topic to compose a paper on is one of the most essential phases of the writing process. Making a list of the benefits and disadvantages is the ideal beginning to writing an advantages and disadvantages essay about inflation. Top Choices of Economic Crisis Essay Topics Therefore, the government appears to be too generoussince it funds numerous programs and promises to enhance the life span of ordinary men and women. It's quite apparent that quite a few of our decisions rely on the sum of money we have. When a nation isn't getting enough finance or is not getting sufficient money to operate all the essential tasks, then ultimately, the nation do face through the world economic crisis. The occasion to pass on expert knowledge, exchange specialist abilities and t rain together will be a priceless resource. Note you will have lots of chances to get a great job in the industry of law, business, politics, etc. after graduation. Nowadays, many students choose to earn a career in the field of economics. There are particular rules students have to see when they receive a task to write about a financial crisis.

The Poisonwood Bible By Barbara Kingsolver - 1961 Words

The poisonwood Bible is a book about identity, growing up and family. The main characters throughout the book grow and learn to become new people through new relationships they develop while in the Congo as well as through struggles they face while in the Congo. Barbara Kingsolver uses the literary elements of plot, the characters, and point of view to develop the characterization and relationships between the Price family in the Poisonwood Bible. Throughout the book Kingsolver uses different aspects of the plot to show development of the Price family and to offer us important information about them. One of the important plot aspects that Kingsolver uses throughout the story comes during Orleanna’s point of view. Told from the present†¦show more content†¦This shows the readers how much the Congo really changed Orleanna. The fact that through the rest of the book the story is told in chronological order and then during her parts is told from after the Congo allows the story to be developed not only in a sense of what is happening now and how it affects the characters, but also allows us to understand the effects of the characters both before and after the Congo as we see with Nathan and how he was a changed man even before the Congo. Had her point of view been told in chronological order like the rest of the story we wouldn’t have seen such a development of specific characters like Nathan and even hersel f because we only would’ve know what was going on in the story and some small background information. Another plot aspect that Kingsolver uses to develop the relationships in the story is the use of a meaningful climax to change the path of the story. The climax of this story is when Ruth May dies from the Mamba snake bite. This is important to the development of the characters throughout the story because throughout the story we see that Orleanna is very complacent to Nathan and doesn’t really have a spine when it comes to protecting herself or her kids from him. Unfortunately for the family it takes on of the kids dying for Orleanna to realize that she can’t listen to him becauseShow MoreRelatedThe Poisonwood Bible By Barbara Kingsolver1124 Words   |  5 PagesIn the novel The Poisonwood Bible, written by Barbara Kingsolver, the reader is introduced to the Price family, Baptist missionaries who are attempting to â€Å"Christianize† the country of Cong o, more specifically the village of Kilanga. As the story progresses, the family realizes that they are not changing the Congo; instead, the Congo is changing them. The development of the characters within the novel is due to the instrument of cruelty. Although distasteful to regard it as such, cruelty motivatesRead MoreThe Poisonwood Bible By Barbara Kingsolver1352 Words   |  6 Pagessuccessful. In the beginning of The Poisonwood Bible, Orleanna introduces to the readers in a third person’s point of view, â€Å"The daughters march behind her, each one tensed to fire off a woman’s heart on a different path to glory or damnation† (5). Orleanna, a mother who lives throughout the story of The Poisonwood Bible, acknowledges how women, in great numbers, are found walking down the path of trying to be successful. The Poisonwood Bible, by Barbara Kingsolver, involves the Price family of 6, whichRead MoreThe Poisonwood Bible By Barbara Kingsolver1142 Words   |  5 PagesThe Poisonwood Bible Nowadays, in today’s society, survival is considered the basic instinct of all humans. Commonly defined as the state of â€Å"continuing to live or exist, in spite of an accident, ordeal or difficult circumstance,†(Dictionary) survival teaches us the will to succeed and face adversity despite the challenges and obstacles we may encounter along the way. In Barbara Kingsolver’s novel â€Å" The Poisonwood Bible,† there is a central theme of survival. Whether it includes finding suppliesRead MoreThe Poisonwood Bible By Barbara Kingsolver1198 Words   |  5 PagesPeriod 2 Part I Title: The Poisonwood Bible Author: Barbara Kingsolver Date of Original Publication: 1998 Biographical information about the author (five facts): -Kingslover was born in 1955 - Throughout her life, she has lived in England, France, and the Canary Islands, and has worked in Europe, Africa, Asia, Mexico, and South America. - Kingsolver was named one the most important writers of the 20th Century by Writers Digest. - Her work, The Poisonwood Bible, was a finalist for the PulitzerRead MoreThe Poisonwood Bible By Barbara Kingsolver1241 Words   |  5 Pagespast and present known society, women have not been treated as the full equals of men. A woman s main value is to support a man, bear children, and housekeeping duties. This is how it has always been in most cultures. The novel, The Poisonwood Bible by Barbara Kingsolver, shows the paternalistic society in which the Price family lives in. In 1959 an obstinate Baptist minister named Nathan Price drags his wife and four daughters deep into the heart of the Congo on a mission to save the unenlightenedRead MoreThe Poisonwood Bible By Barbara Kingsolver1807 Words   |  8 Pageshalf of humanity, for the benefit of all†. Feminism, the act of advocating for female rights in order for them to be equal to those of men, has been an issue for hundreds of years that is sadly lacking present-day progression. In The Poisonwood Bible by Barbara Kingso lver, five females narrate their experiences in Congo during the sixties under not only the Belgian’s rule, but more terribly, under the tyranny of Nathan Price, a Baptist preacher on a mission to convert â€Å"arrogant† Congolese people intoRead MoreThe Poisonwood Bible By Barbara Kingsolver1295 Words   |  6 Pages Imperialism has been a strong and long lasting force, oppressing societies for generations on end. The Poisonwood Bible, by Barbara Kingsolver, demonstrates how the Congo is continuously affected by this concept and ideology. Throughout this story, Kingsolver manipulates each family member and individual within the book, to better show Western and European ideas and attitudes, to convey the large amount of hypocrisy, in foreigner’s actions. No one shows the oppression, inflicted upon the Congo’sRead MoreThe Poisonwood Bible By Barbara Kingsolver1732 Words   |  7 PagesThe Poisonwood Bible 1998 Historical Fiction Characteristics: Unique location, Primitivism, different ways of speaking and racial views Barbara Kingsolver Barbara Kingsolver, born in 1955, grew up in Kentucky and lived in many different countries such as : England, France, and Canary Islands. She attended Debauw University and University of Arizona where she earned a biology degree. Kingsolver now is a beloved author of eleven books and has been named the most important author of the twentieth centuryRead MoreEssay on The Poisonwood Bible by Barbara Kingsolver919 Words   |  4 Pagesa sure sense of self. But along with all these great things come regret, guilt, and shame of past events. Everyone deals with these in different ways, sometimes turning to religion and denial as coping mechanisms. In the novel The Poisonwood Bible, By Barbara Kingsolver, each member of the Price family deals with a personal guilt either gained while on their mission in the Congo or long before. This novel exemplifies the different types of guilt the Price family experienced throughout their stay inRead MoreThe Poisonwood Bible By Barbara Kingsolver2015 Wo rds   |  9 PagesThe Poisonwood Bible, written by Barbara Kingsolver, details the experiences of a missionary family in the Congo, narrated by the Price women. Multiple questions are introduced over the course of the novel, some being answered and others not so much. One important theme in the novel is the influence of surroundings on the characters, specifically Leah Price. Leah Price arguably went through the most change and development as a result of her surroundings and environment. Her moral, psychological change

Critique of a Business Growth Plan

Question: Critique a business growth plan to provide an overarching assessment of strengths and weaknesses, and across 4 dimensions: Scalability of opportunity Level and nature of innovation Articulation of risks Consideration of potential to increase profitability/reduce costs Answer: 1. Introduction Growth plan is the key to the survival of any business. For every successful business, it is important for them to review the business growth plan regularly to ensure continued success of the business and to review the current state of the business according to the plans and to monitor if the business objectives are being achieved. This helps in identifying new strategies for growth. The main aim of this essay is to critically review the business growth plan of a company that trains and educates adults with learning disabilities across the West Midlands and to provide an assessment of its strengths and weaknesses across the four dimensions: Scalability of opportunity, Level and nature of innovation, Articulation of risks and consideration of potential to increase profitability and reduce costs. 2. Scalability of Opportunity Scalability of a company is its ability to increase its revenue significantly and not be constrained or stopped by its own resources and structure. The presence of proper management, information systems, documented processes and SOPs to manage the growth of the company aids in the scaling-up of the company. The resource-based theory (Barney, 1991) is a useful tool in measuring scalability and competitive advantage of a firm. The resources of a company can be basically divided into tangible and intangible resources. 2.1 Tangible Resources This includes the financial, physical, human, and organizational resources. 2.1.1 Financial Resources In case of this company, there was an initial collapse in the revenue stream where tight financial management helped the business survive. The company has since developed an additional revenue stream, proper financial reporting, and excellent relationship with banks. Financial reports to monitor income levels, salary costs to determine profits are done weekly and re-forecasted monthly. They have a proper chartered accountant firm documenting their annual reports. This makes the company financially healthy. 2.1.2 Physical Resources The company has good physical resource structure and the capacity of expand. The business is nearly two decades old and has been growing strong. They have owned, rented and leased premises spread across the area and are constantly expanding with good quality accommodation. The company at present runs two minibuses which are used for only special clients. This has been done to reduce complexity and cost on their side which could be viewed as a discomfort by other clients. Otherwise, the company has up to date equipments required for the smooth running of the business and have invested in constantly updating the equipments in order for the latest software, internet and good reliable hardware to be available to the staff. Good quality furniture, photocopiers and computers are also available. 2.1.3 Human Resources The company contains a senior management team with experience in learning disabilities field and significant experience in dealing with adults with learning disabilities. Experienced middle management, and tutors, classroom assistants, learning supporters and mentors are all highly qualified and trained considering the complexity of their jobs. They also have a well developed HR system with a manager. As far as human resources is considered, they do have significant strength but need more processes to look into employee engagement issues and also an organizational hierarchy to ensure not to burden any single person with too much work. 2.1.4 Organizational Resources The existing organizational resources of the company are strong. The organization has evolved over time as the business progressed and is constantly reviewed and remodeled with changing dimensions and complexities to ensure best possible work delivery. They have formal planning, controlling and coordinating system with a proper reporting structure. 2.2 Intangible Resources The current business operation of the company has excellent reputation built over the last fifteen years due to excellent track record. The novelty of the idea and the continued deliverance has resulted in continual referrals and earned the company a first class reputation among the clients. They have also been awarded the National Offender Management award for their prison work. Their recognition as leaders in the field and the growing reputation makes for a significant resource when it comes to the scalability of the business. Also, the comparatively weaker competition and high entry barriers has increased the brand value of the organization enviably. 2.3 VRIO Analysis Attributes Value Rarity Inimitability (Costly to imitate) Organization (Is the company organized?) The company XXXX Valuable Rare Yes Yes The core value of the company is valuing people with learning disabilities and also their employees via excellent employee management practices. There are very few companies in the field in the area and XXXXs working closely with families, placing the students and providing them with work experience and giving ex-offenders another chance add to the value of the firm since it is also a rare capability. The cost to imitate this venture is difficult at least in the near future. And also the company has the capability and organization to exploit its advantages and keep growing. 2.4 Strategic planning Strategic planning provides with the strategy for an organization to gain and maintain success. The strategies can be broadly classified as intended, emergent and realized strategies. According to Mintzberg, emergent strategies include learning what works. In case of XXXX, the strategic planning has been emergent with continued consistency, that is without conflicting goals, consonance, competitive advantage and feasibility of the change implementation. Porters Three Generic Strategies Porter devised three generic strategies for creating a strategy that defends the business in the long run and helps outperform competitors. Cost dealership which refers to being the lowest in cost relative to the competitions, differentiation which refers to the unique nature of the product pertaining to product design, brand images, number of features and new technology use, and niche strategy where the focus is on a particular user group. As far as XXXX is concerned healthy finance and tight financial management, constant growth of reputation, brand loyalty and catering to people with disabilities gives the organization the advantage and the ability to succeed. 3. Level and Nature of Innovation There are four levels and nature of innovation: Incremental, New insight, Specialist and New world innovation. Apart from the very idea being unique, on their way to their current stage, the organization has implemented several innovations like developing their social enterprise learning model for clients, working with prisoners with disabilities, adopting the new latest technology for their purposes and continuous expansion has worked in their favor. 4. Ansoffs Matrix Penetration Penetration strategy is employed in selling existing products to the existing client base. Changing price, adding innovations, or highlighting competitive advantage and uses are some of the common strategies. The services of XXXX offered at nominal prices catering to a wide client base with innovations such as social enterprise learning models and prisoners educating service has aided as a good penetration strategy. Market Development The increase in survival and life expectancy rates of people with disabilities has increased the volume of disabilities in the West midlands leading to an increase in demand for special schools. Also people do not prefer institutionalization anymore and prefer these kinds of trainers due to the independence and the ability to live with family while getting educated. In case of XXXX, they are confident of the continued growth of their market in the existing geographical markets as well as the new geographical areas as more and more people see the advantages of the provision as they can exploit the potential new services. Product development The company is making continuous development in the care and educators sector. The personal development education provided is perceived as being very innovative. Also the training and placement activities and the prison service led to the creation of a brand value and a helpful product development strategy. Diversification Diversification is employed while introducing new products in new markets. The new health dependent specialism can be exploited by XXXX and enter new markets. Also the existing social enterprise learning model can be taken into new markets. 5. PESTEL Analysis Macro-economical analysis of a business is done using the PESTEL analysis. Political/ legal Factors This includes the political/legal factors affecting the business environment. In case of XXXX, local authorities in the geographical area cut costs. To reduce the huge payroll and pension liability together with the premises cost, the conventional network of day centers is being radically cut. Also, local authorities have a legal duty to provide a funded service and hence look to pay private/ charitable providers to meet this. Even if it is politically/legally uncomfortable, the local authorities have to seek more efficient ways of meeting their obligations under UK and European law. Good quality cost effective alternatives are needed and the governments intention to pass responsibility back to parents could pose as a problem. Economic Factors The services offered promote the economic equality among individuals. The geographical base of the economy has ample growth on the economic sector with lower inflation rates and hence can help the business growth. Also the market demand for the services offered is higher. Social factors The increased life expectancy rates and the rate of survival of children with disabilities and the general attitude and the lifestyle of people in the country make the demographics favorable for the business. The company is also developing new and useful contacts more and more within the local authority, colleges, policing sectors and prisons. Technological Factors The presence of appropriate technology required by the service, new server and cloud technologies, database management, outsourced payroll services, data back up and continual adaptation to any new technological requirements are also in favor of the business. Environmental factors The importance of environmental factors in business analysis is very important due to the direct dependency of the business on weather, climate, natural calamities, natural resources and environmental legislation. The company has a strong environmental awareness policy and has always maintained the desire to combat environmental issues. The weather conditions can have a direct impact on the services as the commuting becomes difficult for people attending the school. 6. SWOT analysis Strengths The social enterprise learning model, the capability to cater to complex needs, hands on activities and the good marketing strategies, reputation and brand image are the core strengths of XXXX. Weakness The weakness in case of this organization is the absence of a strong management team and employee evaluation program. Also, the absence of a defined hierarchy has resulted in the overloading of work to a particular individual resulting in inefficiency. Opportunities The exponential increase in the number of adults with learning disabilities in the UK has increased the pressure on the local authorities to provide appropriate support services. This is a major opportunity for their business and offers cost reduction opportunities, and innovative quality offers since using specialized providers is an attractive offer compared to managing one by themselves. Threats The threats to the business are very minimal considering the weak competition and high entry barriers. Also, the brand is already in an enviable position with high reputation and hence has the competitive advantage. The companys marketing mix is tailored to reach every corner of the market and is even capable of growing into new geographical areas. The pricing strategy of the company is aimed at providing fifty percent of gross profit while still keeping the prices competitive and also providing sufficient return to satisfy stakeholders and retain enough profit needed for the growth and development. There are ample opportunities for revenue creation from related target market. There is also a tight financial regulation process to closely monitor cash inflow and outflow. All things considered, the potential to increase profitability and reduce costs is ample in the business. Conclusion The company has a clear vision and mission but needs to use the resources and assets available to them as best they can. Though the competition at present is weak, they need to constantly drive improvement and be forward thinking while analyzing competition. Staying ahead of the competition is necessary. In this excessively competitive world when small mistakes are magnified and quickly displayed via the social media and media services, it is critical to minimize risks. Considering the proposed plan for growth the managing of the company, the span of control will be too wide for the MD alone to manage things, hence it is necessary to hire an operations manager. In order to cater to wider area, additional premises are required. Since the market growth is expected to continue at 2-5% p.a extensive market research should be conducted to have adequate market data. Sufficient back up plans could be devised for damage control so that the new services do not affect the existing operations. It is also important to ensure that the employees are well trained, well engaged and are customer friendly. Applying these recommendations can help strengthen the business prospects for the organization. References 1. Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17 (1), pp. 99120.2. Barney, J. (2001). Is the resource-based view a useful perspective for strategic management research? Yes. Academic of Management Review, 2 (1), pp. 4156.3. Cardeal, N. (2012). Valuable, rare, inimitable resources and organization (VRIO) resources or valuable, rare, inimitable resources (VRI) capabilities: What leads to competitive advantage? African Journal of Business Management, 6(37).4. Grant, R. (1991). The Resource-Based Theory of Competitive Advantage: Implications for Strategy Formulation. California Management Review, 33(3), pp.114-135.5. Peteraf, M. (1993). The cornerstones of competitive advantage: A resource-based view. Strategic Management Journal, 14(3), pp.179-191.6. Wernerfelt, B. (1984). A resource-based view of the firm. Strategic Management Journal, 5(2), pp.171-180.7. Dess, G. and Davis, P. (1984). Porter's (1980) Generic Strategies as Determinants of Strategic Group Membership and Organizational Performance. Academy of Management Journal, 27(3), pp.467-488.8. Mintzberg, H. (1978). Patterns in Strategy Formation. Management Science, 24(9), pp.934-948.9. Mintzberg, H. and Waters, J. (1985). Of strategies, deliberate and emergent. Strat. Mgmt. J., 6(3), pp.257-272.10. Murray, A. (1988). A Contingency View of Porter's "Generic Strategies". Academy of Management Review, 13(3), pp.390-400.11. Tanwar, R. (2013). Porters Generic Competitive Strategies. IOSR Journal of Business and Management, 15(1), pp.11-17.12. Richardson, M., and Evans, C. (2007). Strategy in action: Applying Ansoffs matrix. British Journal of Administrative Management, 59, pp.1-3.13. Gillespie, A. (2007). PESTEL analysis of the macro-environment. Foundations of Economics, Oxford University Press, USA.14. Yuksel, I. (2012). Developing a Multi-Criteria Decision Making Model for PESTEL Analysis. International Journal of Business and Management, 7(24), pp.57-66.15. R oÃ…Å ¸ca, I. G., Păunescu, C., Prvan, C. (2010). Shaping the future of higher education in Romania: Challenges and driving factors. Management Marketing, 5(1), pp.57-70.16. Piercy, N., Giles, W. (1989). Making SWOT analysis work. Marketing Intelligence Planning, 7(5/6), pp.5-7.17. Houben, G., Lenie, K., Vanhoof, K. (1999). A knowledge-based SWOT-analysis system as an instrument for strategic planning in small and medium sized enterprises. Decision support systems, 26(2), pp.125-135.18. OFarrell, P. N., Hitchens, D. M. W. N. (1988). Alternative theories of small-firm growth: a critical review. Environment and Planning, 20(10), pp.1365-1383.19. Walker Jr, O. C., Ruekert, R. W. (1987). Marketing's role in the implementation of business strategies: a critical review and conceptual framework. The Journal of Marketing, pp.15-33.20. Wong, P. K., Ho, Y. P., Autio, E. (2005). Entrepreneurship, innovation and economic growth: Evidence from GEM data. Small Business Economi cs, 24(3), pp.335-350.21. Brown, T. E., Ulijn, J. M. (Eds.). (2004). Innovation, entrepreneurship and culture: the interaction between technology, progress and economic growth. Edward Elgar Publishing.22. Drucker, P. (2014). Innovation and entrepreneurship. Routledge.23. Barth, M. E., Clinch, G. (1998). Revalued financial, tangible, and intangible assets: Associations with share prices and non-market-based value estimates. Journal of Accounting Research, pp.199-233.24. Hall, R. (1992). The strategic analysis of intangible resources. Strategic management journal, 13(2), 135-144.

Marketing Plan Sugar Free Hot Cocoa Mix Essay Example

Marketing Plan: Sugar Free Hot Cocoa Mix Essay The purpose of this assignment is to launch a new product in a specific market segment. In this case, this product is a sugar free hot cocoa mix called â€Å"Cocoa Jewels†. The following chapters treat the key elements of establishing a new product with the goal to derivate a strategy for â€Å"Cocoa Jewels† in order to successfully entrench and operate the brand on the market. Furthermore this product launching strategy is based on the condition that our product is released by a food producer that is operating on the business to consumer market. 2Environmental analysis 2. 1Political and legal conditions The international trade of cocoa is regulated by the International Cocoa Organization (ICCO), a global organization composed of member countries from both cocoa producing (African, South American and Asian countries) and cocoa consuming countries (including Germany and the whole European Union, Switzerland and Russia). In 1973 it was established and since then put into effect, six International Cocoa Agreements, the last of them was negotiated in 2001 and came into force in 2003. The purpose of the International Cocoa Organization is to â€Å"work towards a sustainable world cocoa economy†. This includes work on customs tariffs on cocoa beans, cocoa semi-products and chocolate import and taxes related to cocoa consumption and processing. Besides prices are also fluctuating because of seasonal influences. They also depend on the rate of the London International Financial Futures and Options Exchange (LIFFE) and the Coffee, Sugar and Cocoa Exchange Inc. of New York where cocoa is mostly traded. 2. 2General economical conditions The global crisis of the last years had an impact on the German economy. For the first time in five years, the country had a negative economic growth (-5%). We will write a custom essay sample on Marketing Plan: Sugar Free Hot Cocoa Mix specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Marketing Plan: Sugar Free Hot Cocoa Mix specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Marketing Plan: Sugar Free Hot Cocoa Mix specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The rise of the prices abruptly dropped in 2009 from 2,6% to 0,4% after 4 years of constant augmentation. The money spent by households for personal consume dropped from 2,5% in 2008 to 0,5% in 2009. However the German government is hoping for amelioration for the coming years. It expects an economical growth of 1,4% for 2010 and 1,6% for 2011 as well as an increase of the working population. Moreover a 2,5% augmentation of the average worker net income which should revive the private consume. We see this revival of the private consume as an opportunity for the launching of a new product. 2. 3Demographic conditions The demographical condition of Germany records a decreasing population which is getting older. Also the total number of single and two-person households is rising. Creating a product which attracts the upper age classes opens up new market potential and opportunities. 3Market analysis The following market analysis is based on our product strategy which will be described later and therefore only takes the European market into account. Before entering a new market, by launching a new product or establishing a new business, the first things to determine are basic facts about this specific market. The market analysis describes a systematic study of a market or market segment, regarding the market situation, customers and competition. The goal is, to determine the market attractiveness and opportunities as well as the strengths and weaknesses of the organization concerning the market. The following chapter treats: ?Market information ?Competition ?SWOT Analysis 3. 1Market information The world’s leading importers and ultimate consumer of the cocoa bean and cocoa products are the United States and Europe. These nations receive approximately 50% of the total number of imports. The sources of imports differ, depending on each nation. About 38% of the German cocoa import is used for beverage production. The total share of these beverages on the cocoa per capita consumption amounts to 7,3%. Since we concentrate on the European market -particularly the German market- the spotlight of interest lays on the largest consumers of cocoa products. The following chart exhibits the European countries with the largest per capita consumption. The six largest consumers by size -numbers in kg per unit- are Switzerland (10,2), Germany (9,3), Belgium (9,1), United Kingdom (8,8), Ireland (8,8) and Austria (8,5). The European average amounts to 5,8 kg per unit. 3. 2Competition Competition may be best described as rivalry in which every seller tries to get what other sellers in the same market segment are seeking, such as sales, profit and market share by offering the best practicable combination of price, quality and service. This paragraph deals with the major competitors market. Competition needs to be divided in three categories. The first category is the immediate competition or direct competition. It is defined as the party who offers products which are technically similar to the own product. The second category is the secondary competition, which offers products solving the same problem in a similar way. The last category is the tertiary competition who offers a different product which is solving the problem in a different way. A recent market research shows that our product is serving a niche market because of its specific characteristics and therefore doesn’t have immediate competition on the European market. However, there are products which are relatively similar to ours by attaining the requested result in a slightly different way. On the basis of this research we determined the major competition. 3. 2. 1Wander AG The product closest to ours is produced by a Swiss food giant by the name of Wander AG. The product portfolio includes â€Å"Caotina†, a cocoa drink which comes in powder form. â€Å"Caotina† is available in several different kinds such as noir (43% amount of cocoa), blanc (white chocolate), surfin (milk chocolate) and sugar-free. The package size differs from 500g per unit up to 1000g per unit and includes 15g portion packs. â€Å"Caotina† sugar-free is only available as a 270g â€Å"ready to drink product†. In terms of price, the average cost per 100g Caotina is 0. 94â‚ ¬ per unit. The promotion of â€Å"Caotina† mainly proceeds over television and internet merchandising, targeting adults who like to experience â€Å"the unique pleasure of chocolate†. Since the television promotion is in the form of commercials, the internet promotion is managed by an own brand homepage on which customers can find additional product information and recipes. The product is available anywhere in food retailing, such as Edeka, Rewe or Aldi, and also in many restaurants. 3. 2. 2Nestle S. A. Nestle S. A. is the world? s largest food giant and owns hundreds of different brands, among others â€Å"Nesquik† and â€Å"Nestle Feinste hei? e Schokolade†. â€Å"Nesquik† is a cocoa drink (19% amount of cocoa) which in general comes in powder form but is also available as â€Å"Nesquik† sugar-reduced, Syrup, Ice and Ready-to-Drink. Nesquik† is offered in 800g and 400g package as well as 500g refill-packages. The average price per 100g is set at 0. 41â‚ ¬. The promotion of â€Å"Nesquik† proceeds over television and internet merchandising, targeting children and parents. The television commercials especially attract ch ildren by using bright colors and the Nesquik-Bunny informing them about how tasty and cool â€Å"Nesquik† is. The internet promotion is more complex because it consists of two different platforms on which â€Å"Nesquik† is presented. The first one is the â€Å"Nesquik† homepage. It is divided into a child section and an adult section. The child section contains games and downloads whereas the adult section contains additional product, health and nutrition information as well as recipes. The brand is also present on social platforms such as Twitter, Facebook or Youtube where anyone can join the â€Å"Nesquik Club† and get the latest product information. â€Å"Nesquik† is obtainable in food retailing such as Edeka, Rewe, Real or Aldi. â€Å"Nestle Feinste hei? e Schokolade† is a cocoa drink (32% amount of cocoa) which is only available in powder form. The package size amounts to 250g which leads to an average price of 1. 16â‚ ¬ per 100g unit. Unlike †Nesquik†, â€Å"Nestle Feinste hei? Schokolade† has no particular promotion but promoted in context with other Nestle products. It is also presented on the Nestle homepage with the option of getting additional information about the product. It is available in food retailing such as Edeka, Rewe or Aldi. 3. 2. 3Kraft Food Inc. Kr aft Food Inc. is the world? s second largest food giant. The company? s product portfolio includes foodstuffs, confectionery and beverages such as â€Å"Kaba† and â€Å"Suchard Express†. â€Å"Kaba† is a cocoa product which is mercenary only in powder form which contains 18% of cocoa. The package size differs from 500g up to 800g. The average price is set at 0. 6â‚ ¬ per 100g unit. The brand promotion is mainly proceeds by television commercials. The commercials make use of experience groups in form of children and adults, who clarify the distinct features of the product, in order to attract viewers. The commercial also uses its established brand name not only to attract children but adults as well, by bringing back memories of their childhood. The product is also shown on the Kraft Food homepage to provide additional information. â€Å"Suchard Express† is the second brand provided by Kraft Food. Just like the Kaba product Suchard Express is a food pow der containing 18% of cocoa. The product is purchasable as 500g package and 14. 5g portion bags with an average cost of 0. 41â‚ ¬ per 100 g unit. The product is not directly supported by any marketing promotion but in relation with other Kraft Food products. As its predecessors, â€Å"Kaba† and â€Å"Suchard Express† are distributed in food retailing. Further competing products are provided by Niederegger (Niederegger Trinkschokolade), RUF Lebensmittelwerk KG (natreen) and Kruger GmbH (Moreno). 3. 3SWOT Analysis The SWOT-Analysis is an efficient tool to enable a transparent insight of the current product standpoint. The analysis contains strengths, weaknesses, opportunities as well as threats within a certain market. In this case, it is the market of cocoa drinks. The following analysis is regarding the standpoint of â€Å"Cocoa Jewels† within the cocoa market. Strengths ?Operating in a nice market ?Brand name without prejudice ?Product features ?Avoiding Head-to-Head competitionWeaknesses ?Comparable high price ?Unknown brand name ?Low profit margin Opportunities ?High cocoa consume in Europe and Switzerland ?Create increased demand for healthy and exclusive cocoa products Threats ?High market competition ?Larger competitors might target the niche market Economic situation impedes demand for expensive cocoa products 4Objectives In order to launch a new product we need to clearly define our objectives which are to find a niche product, to expand, to create a strong brand, to popularize â€Å"Cocoa Jewels† and to build market share. 4. 1Niche product The market our company is operat ing in is the consumer market and our product intends to fill a niche in the market for cocoa products. â€Å"Cocoa Jewels† respond to cocoa consumers whose needs are insufficient met by current competitors. Our goal is to create a product which no competitor produces and therefore fits perfectly into a market niche. This will lead us to entrepreneurial success. 4. 2Expansion At first â€Å"Cocoa Jewels† will only be available in Germany, so we can make sure that our product fills a market niche as expected. We are using the waterfall strategy, which means gaining market share in the local market (German market) and afterwards expanding to foreign markets. Before expanding we have to carefully analyse foreign markets by looking at the market potentials, consumer behaviours, levels of competition, market risks. Our strategy is to first of all open up markets which are most similar to the German market. Therefore, we will expand into European countries and at first to Switzerland because it has the highest chocolate consumption. Our final goal is to become successful worldwide. 4. 3Creation of strong brand Consumers tend to trust strong brands; therefore we have to create a strong brand image. Our customers should link positive memories, favourable and unique associations with our brand. Therefore they will buy our product instead of those of the competitors. Successful brand building can reap benefits by achieving distribution more readily, sustaining high and stable sales and profits through brand loyalty. . 4Popularise the product â€Å"Cocoa Jewels† should be a product that? s popular among our target audience- If the acceptance is high they will tell their friends and family members about it which expands our target audience. With this advertising strategy we will achieve an increase of our awareness level. 4. 5Built market share We also have no immediate competitors, be cause nobody offers a product that is equal to ours. We have a market volume which is not filled with adversarial market share. With these requirements it is easier for our company to build up market share. We hope to maintain in a tightened position before competitors enter the market with equal or similar products. We should have built up a market share which no competitor can challenge with. 5Target group We are creating a high standard product and therefore targeting customers with a high standard lifestyle who are willing to spend more money for quality products. This target audience is often depending on the brand and image of products and therefore they have a high potential fidelity that we should exploit. Moreover, we are producing a sugar free drink which mainly women are attracted to. The health-driven woman is very concerned about her alimentation and her weight. Therefore these women chose their food very carefully. They are often concerned about less fat and less sugar, which protects her from gaining weight. Therewith we are offering them a product that fulfils their needs which are full-taste of chocolate with less or no sugar. To reach these customers we will put in place an adapted marketing strategy: attractive, innovative, high standard characteristics, a relatively high price, a selective distribution and promotion. 6Marketing mix 6. 1Product Our core product is a sugar free hot cocoa mix, which is melting in a hot liquid. It is offered in a solid body, which is melting in water as well as in milk. Agitate your drink a few times and enjoy drinking. One can also enjoy it like a confection of cocoa which applies to the tangible product. â€Å"Cocoa Jewels† are in the shape of a globe with a diameter of 1,5 cm. They are packed in a very elegant and classy wooden box, which guarantees an easy and professional storage. This is needed because our globes should not be exposed to direct sunlight and they should be stored dry, in case of melting. One box comprehends 32 globes. Every wooden box weighs 350grams and it is comprised of two tiers with 16 globes. Every globe weighs 11grams. â€Å"Cocoa Jewels† give our Customers the opportunity to choose how intense they like their drink. They can choose how much globes they put in a glass, because the taste of people often differ. One globe consists to two- thirds of cocoa, which is our main ingredient. This is a big competitive advantage because our product includes almost twice as much original cocoa then competitive products. Another advantage of our product is that it contains no sugar. Therefore our product can be considered to be healthier than other cocoa products which contain a lot of sugar. We offer our customers no after sales service because it is not usual in the food industry to provide any after sales service or similar things. However, we offer them two opportunities to contact us. First of all we offer them a customer hotline and second, an e-mail address both printed on our package and published on our web site. On these platforms customers have the chance to ask questions and tell us their suggestions, wishes and afflictions. In addition we give no warranties on our product because money-back guarantee doesn? make sense while our product doesn? t improve the health or other things. A great benefit of our product is that it is variable because we can change the flavor from cocoa to vanilla or strawberry. This gives our company the chance to innovate and create new products out of the already existing product. Therefore we can boost our position on the new markets. 6. 2Price When it comes to pricing our product, there are three different approaches one can adopt to set a price. Besides the cost-orientated pricing and the competitor-orientated pricing we apply the marketing-orientated pricing for our sugar free â€Å"Cocoa Jewels†. Compared to the cost-orientated and competitor-orientated pricing we can assure to take a much wider range of factors into account in order to define the most efficient price for our â€Å"Cocoa Jewels†. There are five factors which need to be considered intensively before setting a price. In the following we are going to take a closer look at these five price indicators: 6. 2. 1Marketing Strategy In order to assure a successful launch of our new product we need to be sure about our positioning and launching strategy. Our strategic aim is to position our product in the high-price market segment. In order to enter this segment we have two possible options: the rapid skimming and the slow skimming. Rapid skimming combines a high price with high promotion expenditure. The heavy promotion creates high levels of product awareness and knowledge, the high price delivers high margin returns. A slow skimming strategy combines high prices with low levels of promotional spending. We are choosing the rapid skimming strategy for our product to enter the high-price market segment. Although rapid skimming is associated with high promotional expenditure it is the most effective way to make customers aware of our new product. In order to enter the high-price market with the rapid skimming strategy there are several characteristics which need to be considered: â€Å"Cocoa Jewels† provide a high value to the customer due to the special characteristics our product offers. The fact that our â€Å"Cocoa Jewels† are sugar free is the most important value for our customers because our target group of the health-driven woman is very concerned about her alimentation and lifestyle. Therefore she is willing to pay a higher price for our product which offers a â€Å"healthy pleasure† because it is sugar free. Price can also be seen as an indicator of quality. With our promotional message we are creating an image of high quality. When customers buy our product they need to experience a pleasure, in fact they will be satisfied consuming it. This leads to the fact that our high price is legitimated both buying and drinking â€Å"Cocoa Jewels†. 6. 2. 2Competition Another important pricing indicator is the competition we are facing on the market we want to enter. Our recent market research has shown that our product is entering a niche market. Due to its unique characteristics there are no immediate competitors on the European market. However, there exists a high amount of products similar to our â€Å"Cocoa Jewels†. Although these competitors are offering their product in a powder form and at a lower price we need to stick to our higher price in order to become a high-price and high-quality product. 6. 2. 3Value to customer As mentioned above our product meets the needs of our target group. The main factors for customers to make their cocoa drink buying decision are the price in relation to the quality, the taste, the comfortable use and the brand image. â€Å"Cocoa Jewels† covers all four decision makers. Due to the high rate of cocoa (two-thirds) the drinks are more creamy and delicious. This goes along with the high quality we offer. Through our promotion we are going to create a strong brand image in our customers mind. These three facts lead to the acceptance of a higher price. 6. 2. 4Costs Another important fact we need to consider are the costs. Although we do not apply the cost-orientated pricing we need to determine that our margins cover the expenditures. Due to the special shape and the high-quality packaging our production cost will definitely be higher as the production cost of our competitors. Even though we need to cover our expenditures we cannot set an utopian price. In our research we analyzed the prices of our competitors. Our main competitors sell their cocoa products from a price of 0,39â‚ ¬ to 1,16â‚ ¬ per 100g. In order to pursuit our strategic aim of entering the high-price segment we will launch our product at a price 1,43â‚ ¬ per 100 grams. This price will cover our expenditures. The spending on promotion, research, production and distribution capture 93% of our price. The remaining 7% are our planed profit margin. 6. 2. 5Negotiation margin As we enter the market with the rapid skimming strategy, we provide high prices right from the beginning. We want our customers to associate â€Å"Cocoa Jewels† with high-quality, healthy pleasure, uniqueness and exclusiveness. Therefore we are not planning on any discounts or price decreases in order to attract customers. The goal is to bind our customers by creating a product awareness, followed by consumption and final acquisition of their loyalty due to the specific product features such as sugar free and high amount of cocoa (two-third). 6. 3Place 6. 3. 1Distribution Strategy As we are launching an exclusive product and want to enter the market as a high quality brand, our distribution strategy needs to be adapted to this goal. Therefore we chose to commercialize our product with two different retailer types: First in delicatessen stores such as Kafer and high standard chocolate stores like Bitter Zart. Second, in order to reach a higher number of potential customers we also want to be present in upper-grade supermarkets such as Migros, Kaufland and Real. 6. 3. 2Type of channel distribution On the business-to-consumer market distribution is either direct or indirect. Direct distribution means that the producer supplies the consumer without any intermediary. By indirect distribution the product passes through one or several intermediates (Wholesaler, Retailer) before it will be offered to the customer. We are using the indirect distribution, because as we are commercializing a single product and not a large product mix (direct distribution appears ineffective). Besides the nature of our product is more adapted to indirect distribution, because a drink preparation mix doesn’t request any close contact between producer and customer and doesn? represent any handling difficulties for our distributors. As we don’t have any direct competitors we want to insist on the innovative characters of our product in order to compete with traditional cocoa preparation mixes using the same distribution channels. Therefore we don’t see the use of innovative direct distribution strategy. 6. 3. 3Channel selection As we chose to produce an exclusiv e product our target audience has particular expectations. They are willing to buy in nice conditions, in places they associate with high quality. Delicatessen stores are particularly adapted because they offer great service and allow the customer to get information about our product and its unusual shape while buying in a particular ambience. However, as we are commercializing a product which is always bought in small quantities we need to reach a large number of customers. Therefore we want to enter the market with supermarkets. Besides, supermarkets are a good way to reach women which are our principle target customers. As we want to commercialize an innovative product we are hoping that supermarkets and delicatessen will accept our product and will be willing to sell it. . 3. 4Distribution intensity Another decision we have to make is the intensity of distribution. There are three possibilities: (1) intensive distribution; is the use of all available outlets, (2) selective distribution; the use of a limited number of selected outlets, (3) intensive distribution; the use of only one unique distributor. As we intend to become an up-market brand and still want to reach a relatively large number of customer we choose a selective distribution. To have a quality image, apart from the delicatessen, we want to select the best supermarkets and of course dismiss discount retailers. 6. 3. 5Channel integration There are three types of channel integration: (1) in conventional market channels an independent producer and independent distributors are working together, (2) distributors can be franchised, (3) the whole channel can be totally owned by the producer. As we are launching a new brand we are using a conventional marketing channel, without any short-term project of franchising or channel ownership. Our goal is to gain market share within and then outside Germany always using our chosen type of upper-market retailers. We are willing to create successful and long-term partnerships by considering the interests of our various partners. We are aware of small delicatessen stores and supermarkets having different expectations and functioning and that these two types of distribution channels will have to be managed differently. We also plan to evaluate each partnership after a few months of selling to make sure our channel selection was really adapted to our product. 6. 4Promotion In todays competitive world, organizations are using innovative and new ideas to stay a step ahead of their competitors. Brand identity and promotion help the organization to establish itself strongly in the market and to attract the potential target audience in large numbers. These are very important aspects of the marketing mix and the only way to inform the chosen target groups about the brand and its products. It keeps the product in the minds of the customers and helps stimulate demand for it. It is proven that people all over the world prefer to purchase branded products and they also do not mind paying a higher price for it. However, in order to create a brand identity and awareness of the product, there are many factors which need to be carefully analyzed and to be executed in the appropriate direction to gain maximum benefit. We are trying to achieve that with our product â€Å"Cocoa Jewels† with the following marketing plan: ? Create awareness and desire for the product ?Sampling ?Message decisions ?Media decisions 6. 4. 1Create awareness and desire for the product To stimulate our sales and to increase profit we need a clear understanding of its communication objectives. The first contact between our product and the target group must be well organized. Ideally the first contact creates desire for the product. One way to do that would be to allocate samples of our product and let the target audience try before they can decide to actually buy it. The sales of some products suffer because of lack of trial and marketing research has shown that once customers try the product the acceptance is very high. 6. 4. 2Sampling Samples of our product can be offered in e. g. grocery stores, drugstores, fitness studios and on the streets. Those locations are central points of contact of our target group. It is most likely that our potential customers frequently visit these locations. With allocating our samples in fitness studios and drugstores we can make sure that the message of a healthy (sugar free) product is sent to the right audience. Give it away on streets helps us to gain new costumers which are not necessarily visiting fitness studios or drugstores. Another possibility is to sell our product to internet platforms such as (e. g. ) trnd. com. This platform provides us to let costumers try our product and give us feedback on it, which brings many advantages along. First of all we can allocate our product to specifically chosen (by trnd) target groups and let them tell us how they like it without paying for test persons. Moreover if they like our product they will tell their neighbors, family members or friends about it which brings us word-of-mouth advertising. Therefore it is a very efficient way to do advertising without having high costs. 6. 4. 3Message decisions The advertising platforms (media) are the foundation on which advertising messages are built. They should be important to the target group because that will be the only way to reach them. We will now show what our platforms and message are going to be and how they approximately going to look like. First of all we need a certain advertising message. This message has to be translated to the media platforms with words, symbols and illustrations that speak to the target audience. David Ogilvy an advertising practitioner suggested that press advertisements should follow a number of guidelines: 1. The message appeal (benefit) should be important to the target audience. 2. The message should be couched in the customers? language, not the language of the advertiser. 3. The advertisement should have a headline that might: -Promise a benefit -Offer a service -Identify a problem Our message could therefore be the following:  «Ã¢â‚¬Å"Cocoa Jewelsâ€Å" purer Genuss hei? er Schokolade, auch ohne Zucker  » 6. 4. 4Media decisions 6. 4. 4. 1Television Television advertising is often used to build a brand personality. Therefore it is the best way to promote a new product most effectively. It has many advantages. Advertisers can demonstrate the product through motion. The capability of TV can combine color, movement and sound (unlike the press, posters and radio). TV is able to transfer an emotion that’s why it is often used when brand image building is required. This is what we try to achieve with our product. Although TV advertising is a transitory medium which means consumers can not refer back to the advertisement once it has been broadcasted it is also one of the most expensive ways to advertise. Nevertheless it is still one of the most efficient ways to build a sustainable brand image. With a TV commercial we can not only create the attention and interest for our product it helps also to create desire for it and at the final stage hopefully the action to buy it. The best place and time to broadcast our commercial and to reach our target audience would be at the late afternoon, which is mainly from 4pm to 9pm. The active health-driven woman is that person (how we consider our target audience to be) who actually buys our product. Nevertheless our TV commercial should also respond to the actual consumers. With creating a familiar atmosphere in our commercial we want to show that everyone can consume our products. With this strategy we can even aim to expand our target audience to other groups as well. 6. 4. 4. 2Print media The print media advertising is another very effective way to promote our product. Advantages of print media are that readers are in control of how long they want to assimilate information. They also have the possibility to re-examine the advertisement at a later date. Magazines such as â€Å"Shape†, â€Å"FitforFun† and â€Å"Woman’s Health† respond to our target audience which means it is the perfect way to reach them. Other magazins could also be â€Å"Brigitte†, â€Å"Freundin† and â€Å"Bild der Frau†. These magazines often have articles about dietary and healthy food. As mentioned above the health-driven woman is concerned about her alimentation and her weight so she specifically chooses her food carefully. Less sugar is always something she considers to be healthy and it protects her form gaining weight, but she doesn? want to abstain good taste. This is exactly what we want to express with our print media: healthy and non-fattening food, because sugar free, but with full taste of chocolate. Other press promotion would be advertising folders of food retailers. Therewith we can show our target audience where they can buy our product. 6. 4. 4. 3Internet The internet is a media platform that allo ws us global reach at relatively low cost. If our product has a high acceptance in Germany it might sweep over to other countries by web forums and websites. It also gives us the ability to measure the number of website visits and clicks on advertisement so therefore we can see if it? s profitable to spend money on internet advertising. Communication between supplier and consumer is possible either by website-based communication or on various web forums so that we can get feedback on our product. 7Conclusion In today? s world the market is over swept with new products. With the globalization of the economy competition is growing. The challenge is to create innovative products with differential advantages in comparison to those from the competitors. The