Essays on Product Or Service

How can content marketing on social media channels be used in order to increase the level of customer engagement for the UK fitness industry?

Introduction Social media channels represent the new phenomenon, that has forced industries to change their attitude to marketing strategies, brand awareness, and customer engagement. The social media channels today pose certain threats to the traditional advertising, which treats the customers as a homogeneous crowd . In this extent, the social media channels are highly personalized presenting the versatile and verified social media content to the targeted audience. The marketing specialists are always in constant search of ...

Marketing mix consists of four elements that are product, price, place and promotion. It is known as one of the most important factors in marketing that can help to market the right product to the target audience. Marketing mix can be used for any product or service in any area and sports is not an exception. Sports marketing managers control each element’s strategy of the marketing mix separately. The only difference is that in sports marketing instead of place there is distribution. Therefore, the next paragraphs are focused on product, place, promotion and distribution (Shank). So, the goal ...

Introduction

The jewelry manufacturing and sales industry has been posting exponential growth rates in the past years. A lot of companies that operate in this industry have likewise exhibited significant upward growth rates. One of those companies is Pandora. Pandora is a Danish multinational corporation whose core business involves the manufacture and retail of jewelries. The company was founded in 1982 by Per Enevoldsen. The company was, at that time, engaged in small scale jewelry importation. It imported pre-manufactured jewelries from Thailand and sold it to its customers for a profit. Enevoldsen, upon seeing that there is a great potential ...

Introduction p. 3

Significance p. 4 Trend Drivers and Patterns p. 5 Impact on the Hospitality Industry p. 7 Subway: A Case Study p. 7 Impact on Future Professional Development p. 9 Conclusion p. 10 References p. 11 Chemicals in the food chain and the relevance to the hospitality industry. 1.0 Introduction: In the past, the process of a food chain was simple; foods were eaten as they were produces due to lack of preservation techniques. While it was considered to be important, food was categorized as just a commodity (Gauther, 2012). As industrialization increased, farmers became more distant from consumers and ...

In the context of contemporary global business environment, marketing as become an essential part of an organization offering nay product or service. The escalated competition and dynamic global market has prompted both the small and large organizations to consider the significance of the role that marketing could play in the viability, sustainability, and profitability of the business. The marketing unit of an organization plays a crucial role in the bureaucratic management and it is the one of the only department that has direct impact on with customers. The role of marketing is quite comprehensive and it consistently contributes to ...

1. Understanding Customer Care and the Benefits of the Good Customer Care : No matter the business, there is the necessity for a business to understand customer care and the benefits of the good customer care. For a business to exist and remain sustainable over time, customer satisfaction is mandatory. There are several advantages of giving good customer service that will also enable a business to profit to include (Bhasin, 2016): Retaining of the repeat customer as the happy customer will return. This is a process that also enables the company brand to be well known, thereby allowing ...

In the YouTube video on the Science of Persuasion, six short-cuts to decision-making are described. The six short-cuts are 1) reciprocity, 2) scarcity, 3) authority, 4) consistency, 5) liking, and 6) consensus. I have selected scarcity and consensus as the two short-cut methods of persuasion to discuss in further detail. Scarcity and consensus are a powerful factors in how influential they are in the selling process. Scarcity, which creates a type of desperation in the need to acquire “said material” makes the product being sold extra desirable. People are afraid to miss out on an opportunity to own or ...

Question 1:

The five core competencies that are discussed and broadly tackled in the MBA program are as follows: Competency 3006.1.5: Legal and Regulatory Requirements Competency 3020.1.4: Motivational Concepts in Human Resources 3012.1.4: Microeconomic and Macroeconomic Principles 3013.1.4: Marketing Strategy 3014.1.1: Financial Analysis The graduate in these core competencies of the MBA program is taken through the rules and regulations as well as the legal procedures that they should be privy to, so as to analyzes applicable legal and regulatory requirements of their organizations and assist them to determine whether organizations meet legal responsibilities or not. The graduate in this competency ...

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Importance of the Non-Profit Sector (NPS)

The sector is the channel by which the altruistic intentions of the affluent and charitable are fulfilled. Most beneficiaries are the groups in society who are incapable of livelihood like the sick, old and very young. The NPS does not have a pressure to minimize expenditure like that of salary. The non-profit organization can provide more employment than a similar sized profit organization. It is labor intensive mostly focused in health and education. (The role of the nonprofit sector, n.d.) It is an important partner to the government in its delivery of social services. It provides ...

Introduction

Sierra Ltd. is an automotive parts’ manufacturer situated in Eastbourne, England. The company manufacturers several distinct products and follows the traditional cost management system. It uses machine hours as the basis of allocation of overheads to its product costs. This report provides an assessment of Sierra’s finance director’s proposal to adopt the Activity Based Costing system for allocating overhead costs more appropriately and to increase sales margins. The most important issues faced by Sierra Ltd. are the declining revenue and profits since the last five years, low projected net profits for 2016 and high product costs. Sierra ...

Abstract

The notion of supply chain management (SCM) is not new, but it poses different understanding issues in terms of organizing internal processes and relationships with suppliers and customers. Different companies, different industries require for distinct SCM. The most important thing for organizations is to comprehend that they are part of a SCM and that it is in their power and responsibility to guide activities and processes to best fit their business objectives. By analyzing three SCM dedicated sources, this paper aims to answer several stringent aspects of SCM in the contemporary business world. The challenges of organizing SCM in ...

Discussion question

Impacts of Digital Revolution Digital revolution is causing changes in the landscape of marketing on the basis of how consumers get to know of the products and services they need. The social media websites such as Facebook, Instagram among others have helped come up with a community of similar people sharing a common interest, ideas, needs and experiences. These technologies have ensured easier interaction between the marketers and the consumers. This is because of the smartphones and other mediums of communication which enhance conversation and negotiation about the product or service. Integrated marketing communication has helped the marketers deliver ...

Marketing is a process that facilitates goods and services to be transported from where they are produced to where they are consumed. On the same note, marketing involves creating awareness of the product or service, increasing the likeness towards them, and creating a desire for people to purchase them. Therefore, marketing involves the use of the 4p’s of marketing to ensure that goods and services reach the consumers from where they are produced (Jobber & Ellis-Chadwick, 2012).

The 4p’s are as follows;

Product Price Place Promotion However, many people across the globe misunderstand marketing with other functional areas of business, and this discussion will ...

Proposal for Business Plan Model for EMR Project

Proposal for Business Plan Model for EMR project Business Plans are documents that represent the specific details of a business covering three major aspects of a business – the concept, market for the intended product or service and the financial sources which are further broken down into summary of the plan, details of the business, marketing strategies, competition assessment, growth strategies, operations and management, and financial information (Burns Millyard, 2016). The primary purpose of the business plan is to demonstrate the objectives and direction of the business .Six typical of Business plans have been described as start-up, internal, strategic, feasibility, ...

New business owners often find themselves facing issues they had not previously considered when starting a business. Many new owners have recognized the need for their product or service and have identified a market for it. They are prepared for that aspect; it is how they came to start their own business. Other aspects however, such as accounting, employee oversight, and taxes are areas where most people have little expertise without actively taking the time to learn about these issues, but where many of the struggles small business owners face are originated (Collamer, n.d.). There are several basic areas ...

Essay

What is the most important factor to consider when determining the elements of the marketing mix? In order to determine the elements of the marketing mix, one should consider those special relationships, which exist between the needs of a customer and the need-satisfying potential of the product. Here we are to speak about the product utility or in other words about the potential of the product to meet the need and the wants of the customer from the point of its functional, psychological and aesthetic characteristics. It is quite a well-known fact that wherever the organization applies for marketing ...

Communication and New Technologies

Communication and New Technologies Communication is one way of expressing the feelings, ideas and thoughts regarding of an issue or situation. New technology has improved communication at a greatly and hence changing impact in economic growth, political focus and social networking. This happens through digital technology on devices such as cell phones, televisions, and computers technology that supports communication. The paper focuses on communication changes due a result new technology, especially in the social media. Furthermore, the study projects on the impact of communication on the new technology in development, especially in the business context. The article news; Use ...

Introduction and Background

The demand for creativity and innovation at the workplace is common for managers and business executives. Innovation and creativity are common tenets of the business strategies adopted by many corporations. Organizations also used innovation and creativity as the element through which they acquire a competitive advantage. Scholars such as Mann and Chan (2011, p.1) find that the concepts of innovation and creativity have gained enjoyed a lot of interest in the recent past. The interest in the concepts has resulted from a shift in how they are perceived. Mann and Chan (2011, p.1) report that the concept of creativity ...

1. When staff work together as a team they can complement each other and deliver a consistent level of service.

True

2. A key to creating a team environment is recognising both team and individual contributions to achieving the goals of the group.

True

3. Simple rules can apply to any interpersonal relationship, but are essential for a leader. What are four simple rules that apply to leaders? 1. Focusing on creating positive partnership with subordinates in order to increase the quality of cooperation with them. 2. Paying particular attention to the ideas, needs, and problems of employees in order to ...

There is a need to understand the term entrepreneurship before starting a business. For that reason, it is good to comprehend the entrepreneurship concept. Various economists have varying definition regarding entrepreneurship. Each entrepreneur has a wide vision on how he can succeed in a certain niche, meaning that they try to be innovative and capture a market that has not been captured before, to present a unique product or service. For that matter, entrepreneurs enhance the economy of a country by stabilizing sales and this increase per capital income, thereby shooting the economic status of a country. 2.0 Feasibility ...

Executive Summary

The business plan consists of relevant sections that are useful in introducing new products or services in the market. Traffic Lights offers trips to various European countries, and now it is intended to introduce new trip to Asian countries. The new division is based on the vision and mission of the company that is to provide high-quality products and services to all types of customers. The proposed business model for Traffic Highlights is simple that it requires extending its product line by introducing a new division of the business. The preposition value statement of the company is clear that ...

Introduction

The aim of every business is to make as much profit as possible, by selling their goods and services to the consumers in the most efficient ways (Friedman, 2007). At times, it is not possible for the producers to sell their goods and services to the consumers, thereby requiring an intermediary that will make it possible for the producer to reach the consumers. These intermediaries are called marketing channels, and they help in the transfer of the ownership of goods, from their point of production to their point of consumption. In other words, marketing channels make it possible for ...

Abstract

This paper explores the concept of Marketing Mix as it applies to the effective selling of used textbooks. This product has been chosen because of its wasted earning potential for students who need to adapt to the rising cost of education. The Four Ps of Marketing – Product, Price, Place, and Promotion – are discussed in this paper as the application of each marketing component is vital to success in the sale of used school books. Like the four legs of a table, the four Ps complement each other and as such, weakness in one component can cause a collapse of ...

Value Proposition in Patient Care

Value Proposition in Patient Care For a long time, the health industry seemed to be immune to the need to tend to consumer needs like most services industries were doing. As a result, many of them began falling behind the new ventures that sought to address issues affecting clients while seeking care. The trend caught on across the globe and the value proposition for patient care became an issue of continued demand across various health centers. As a result, heath services became more client-centered and services were made convenient to meet the needs of the consumers. Prices were lowered ...

Introduction

Problem Statement Underdeveloped markets are far behind the developed markets when it comes to the acceptance of technological advancements. The size of the underdeveloped market is huge, and there are great opportunities for growth in such markets. Technology Acceptance Model (TAM) is a theory of information system that shows the pattern in which the users can accept using technology that can be applied to undeveloped markets to determine the acceptance of new business models.

Research Objective

The paper aims to discuss the TAM theory and develop an extension to it for underdeveloped markets. Purpose of Study The extension of TAM model ...

Abstract

The creation of effective marketing strategy is the key component of successful introduction of new product or service. This research is aimed at formulation of the comprehensive marketing plan for ready-to-enter the market landscaping company Green Art Studio. The company offers innovative EPCM-system of landscape design that results in establishing long-term relations with the clients. Green Art Studio fulfills dreams both of highly and lowly placed clients providing sustainability and innovations. Marketing plan includes overall strategy identification, analysis of industry competition, market positioning, communication tools and 4-Ps definition. Specific attention is given to the issue of target audience as ...

Abstract

Marketing is an essential functionality in the business set up. For the procedure to be effective, marketing has to have clear objectives that are set in the organization. The objectives can be cascaded down to the individuals who have taken up certain roles in the marketing department for instance. Aggressive promotion while at the same time making identification of the expected target for the particular service or product is of importance. The marketing content is also crucial, and this can be promoted by the presence of activities like marketing strategies and strategic marketing which can be solely managed in ...

A distribution channel is a series that a commodity passes through to get to the final user, which is the consumer (Cravens & Piercy, 2006). The series might be a business or intermediaries who ensure a product or a service reaches those it is meant to benefit. The series can be one of the following;

Internet

Wholesalers Distributors Retailers Agents It can either be short or long, in that, when sold from the producer to the consumer directly, it is a short, while long when passes through intermediaries. In most cases, the intermediaries receive the product or service from the producer ...

The choosing of the most effective planning model is an important factor influencing the results of particular project. Some of the planning models are commonly used and prove to provide the highest level of accuracy. These models are Michael Porter's five forces, Adrian Slywotzky's value migration, W. Chan Kim and Renee Mauborgne's blue ocean strategy. Nevertheless all these models still have specific pros and con that are analyzed in this paper in order to propose the most efficient planning model.

Michael Porter's Five Forces

The premise and main advantages Analysis of the five forces is commonly applied method of studying the market probabilities ...

Keywords: Complaint handling, Customer loyalty, Service failure, Service recovery, Transparency

Introduction

One of the primary goals of business organizations is to provide effective customer service to ensure that they retain their existing customers and attract new customers to the business. Retaining the existing customers shows customer loyalty. Achieving customer loyalty is critical to the success of organizations because it helps them to maintain their share of the market. However, the imperfect nature of organizations means that service failures occur at times, and this has a negative effect on customer loyalty. Service failure refers to the occurrence of errors in the ...

Figuring out a path for life is something that the youth find hard to establish. This is because there are a lot of options that add up from going to college, getting employed, doing both or even starting up a business. The options depend on the circumstances and the final decision of the person. This is why brainstorming is important in that it identifies for you what you need through comparing different strategies and options in life. Researching is also an important method to find out what works and how it can work. Anyone starting up has to be ...

Wealth Maximization

Wealth maximization is a modern business concept where the organizations evaluate their capabilities, shortcomings, and best possible outcomes to maximize their stockholder wealth component. This is usually considered as the goal of modern businesses (Roe, 2001). But wealth maximization is not essentially synonymous with profit maximization where the short term benefits becomes the primary target than long term achievements. Clearly, unlike profit maximization, wealth maximization is not a continuous process, especially in the case of a single business. It is possible that the company may run into a saturation level beyond which its expansion might become extremely difficult. For ...

Company’s Branding, Pricing, Segmentation and Distribution Strategy

Company’s Description The Travelers’ Application is a New-York based online platform designed to give guidance to people who are planning to holiday internationally. This application provides information like weather, potential tourist sites, accommodation information, and directions to and from places of interest. The application is designed to give the traveler insight into what conditions are like in an international location. This application will be extremely useful for people traveling alone and with family. The purpose of this discussion, then, will be to outline a marketing plan for the application, including positioning statement, marketing framework, branding strategy, and marketing ...

Internal Analysis

Internal Analysis

Introduction

According to David (2011), every organization has weaknesses and strengths in its functional areas. Organizations have several functional areas depending on the industry they operate in. A firm that seeks competitive advantage against rivals must build on its distinctive competencies, which are inimitable strengths that others cannot replicate. Similarly, it is important to build on weaknesses and to turn them into strengths. The process of internal analysis, therefore, involves establishing the company’s strengths and weaknesses within key functional areas. Once completed, an internal analysis helps employees to understand and perform their roles within the larger organizational ...

What is the difference between line personnel and staff personnel?

Line and staff are basically the functional types in organizations. Line personnel is the one who carries out basic activities and directly deals with the everyday operations of a business. These could be anything related to creating a product or service or selling a product or service. Staff personnel on the other hand supports the business by carrying out specialized services and stands as a support function for the line personnel. The job functions of staff personnel could be related to specific departments like human resources and accounting.

Why are the two groups so often in conflict?

Although both the personnel play an important role in success of ...

2015 A

Section B

Answer B1: Branding No matter if the business is small or large, branding is regarded as one of the most significant aspects of a good business. There are products and services associated with every business. These products and services have to be differentiated from those of competitors by providing a unique name, a logo, a slogan which can be simply known as a brand. The brand is basically the identity given to a brand which makes it stand out from similar offerings in the domestic and international market. Customers build their perceptions on brands. The stronger and ...

Introduction

Marketing represents a form of communication between business establishments and the consumers with the aim of selling or introducing new products and services. The success of a company’s sales therefore directly relates to the marketing strategies it employs. Through this essay, the author looks at the principle of marketing regarding Portakabin as a major company involved in the promotion of its products. The essay also highlights the elements of the marketing process, the costs and benefits of marketing orientation, the micro and macro environmental factors that affect business, and market segmentation for the company. Additionally, the competitive advantage ...

Introduction

Safety Management System is a tool of management for the oversight of safety by an organization that is carried out following an approach that is both organized and orderly. Additionally, the Safety Management System approach represents a formal, top-down approach that is adopted by businesses and organizations for the management of safety risks. It includes an approach that is systematic regarding the management of security and considers the necessary structures of the organization, accountabilities, policies as well as procedures. According to Russel (2016), the notion that the implementation of a Safety Management System is complicated, time-consuming, and expensive is ...

A case study is viewed as a research methodology or basic strategy that has been scrutinized in the past as lacking rigor as well as objectivity when compared with other research methods. But there are certain times that a case study can be a useful tool for the preliminary part of the research. It is in these times that the case study can be viewed as an important marketing staple that can be used for many varied reasons (Rowley, 2002). As an example, a business can use a case study to demonstrate how their product or service has been ...

The main aim of an advertisement is to generate awareness, i.e. A top of the mind presence of the product or service features and attributes, creating an emotive connect with the target audience with the subtle use of the visuals and copy. The communication that engages the consumer’s cognitive thinking is further distinguished into one-sided vs. two sided argument and comparative vs. noncomparative ads (Iacobucci, 2015). The one-sided argument is the most common cognitive approach used by Advertisers, as the name suggests, the ad features only the proposed benefits of the product or service. The two-sided argument is ...

1. Identify how you can conduct surveys to assess customer satisfaction. Discuss the various pieces of information that can be discovered through surveys and the guidelines for survey questions. Customer satisfaction is the primary objective of any business and surveys is one of the most relevant research tools to gauge the results. To be able to get the quality responses that can help in understanding the customer’s mood, it is imperative to create questions that can access, the consumers from a behavioral and psychological perspective. It is better to pretest the survey that will help in rechecking some ...

Part 1

It has been decided by the team members that the product we will be choosing for Marketing Trade Show would be called ‘Envopan’ which is an environmentally friendly frying pan. This pan is way ahead of the traditional frying pan which requires a gas or electric stove for providing it the necessary amount of heating for cooking food. Envopan operates on a battery which means it is built on the mechanism of self-heating. The product idea is innovative and practical for campers and tourists. It will save their energy wasted in gathering sticks and fire them up to cook ...

Part A: Multiple Choice Questions:

The seller must have market power, that is the seller must have some control over price The seller must be able to identify different customer groups with different demand elasticities The seller must be able to prevent arbitrage between the two groups All of the above You’ve just decided to add a new line to your manufacturing plant. Compute the expected loss/profit from the line addition if you estimate the following:

There is a 70% chance that profits will increase by $100,000.

There is a 20% chance that profits will remain the same. There is a 10% chance that profits will decrease by $15,000. Loss of $15,000 ...

The biggest problem faced by Instapaper, which is an iPhone app that enables readers to download articles, publications, or other written material available on the internet and read then later is that even after reducing the price needed to upgrade to a premium app version, the number of subscribers did not increase. On the other hand, only the number of version subscribers increased. This posed a challenge to the developers of the app. Freemium is the pricing strategy that was adopted by Instapaper application. Users were allowed to use the application for free but with limited features and were ...

Japanese and American Commercials

For reaching out to the target consumers to purchase a particular product or to take an action regarding the product or service, many companies use television commercials both on television and on the radio in order to communicate to the target audience. The primary use of commercials is to introduce a product or service to potential consumers and persuade them to be part and parcel in consuming the product or service. Japan and the USA have different ways of relating information to potential consumers. These differences are caused by the following factors; First in America, the product is the ...

PART A

Question 1 An adaptive seller is a person who uses a selling strategy in which the way that is used to present a product or service varies according to the buyer viewing it. Adaptive selling takes into consideration the particular situation in which the commodity is presented, the demographics of the buyer, and the direct feedback received about the commodity. That is why the characteristics are associated to agile.

Question 2

Value exchange in the professional selling process refers to one of the four main attributes of a product or service. They are economic value, use value, production and sell, as ...

What is the concept and how does it work?

Humanity is not new to the concept of sharing; they have grown learning to share things with their parents, teachers, friends and relatives. In the 21st century, with the kind of advancements that we have made in the area of information and communication technology, internet has enabled the availability of new platforms including social media for us to share things with the people in our loop. The concept of sharing economy is simple and straightforward- any product or service that is not in constant use for the owner or that the owner believes can be shared with others can ...

Individual & Group Takeaways

Individual Takeaways Individually, I have come to understand design process is a multi-phased one. In order to better design a functional application (and, for that matter, any product or service), one needs to better understand, above anything else, customers for whom an application, product or service is designed. This first step is performed by different means including, for example, market research, field tests or surveys. For our current purposes (and because of our limited scope and resources), my workgroup and I performed both non-participating and participating customer observation activities. By non-participating observation activity is meant watching up close customer ...

Introduction

An advertising campaign is a series of coordinated advertisements that are broadcasted through a series of print or digital media carrying the same theme. This campaign may focus on a specific product or service or target a particular section of the population. Successful advertising campaigns have been known to achieve better results as compared to sporadic advertising. An advertising campaign can run anywhere from a few weeks, months or even years. A public relations campaign on the other hand is a series of events that are planned beforehand aimed at achieving a specific goal. The aim of public relations ...

New Disney World Theme Park

Joint Venture Marketing Between Disney and Nintendo The group has decided to create a Nintendo World as part of Disney Corporation’s effort to inject a bigger portion of its capital expenditures on the development of a new Disney World theme park with a new theme. Nintendo Corporation Limited is a Japanese multinational electronics and software development and manufacturing company. The company owns patents and other intellectual properties in the field of gaming and this is the type of asset that the group is aiming to make use of. Some of the most popular gaming titles that Nintendo Corporation ...

Introduction

The business planning and formulating is not as easy and simple as it seems just like to run operations and deal with staff. To start a new business, it is very important to understand the nature and role of entrepreneurship. Many entrepreneurs have succeeded, and many have failed in the past, it means that there is something exist that can differentiate the successful and failure entrepreneurs. Before conducting a plan for the new business of wedding planner services, it is needed to understand the needs, challenges and risks in the development of new business and how these challenges and ...

The Love Letter & Breakup Letter are both great methods for companies to gain more insight into what their happy or unsatisfied customers are feeling. One way to show a class just how good these methods are is to try them in class. However, apart from doing the standard exercise where everyone would write their own break up letter or love letter and then read it, the class can work as a group together to compose one letter. It is very likely that other people share some concerns that people have about a product or service. The same goes for ...

Introduction

This paper is aimed at formulating an advertising campaign for Nokia phones. The essay has six sections which are designed as follows; background information about the writer, Nokia phone, and Nokia brand will be discussed in section one. The research to be done in preparation for writing the essay will be discussed in the second section, the target market will be discussed in section four, the campaign objectives are in section four, creative planning is in section five, and the advertisements are outlined in section six.

Product Background

The aim of this essay is to come up with an advertising campaign ...

Foundation Course-

Russell has been described as an architect, behavior scientist, trailblazer, and a renaissance man in the field of management. Russell, management thinking entirely depends on the analysis taken on the procedure, which involves breaking down the things in context into their constituent parts (Ackoff, 2010). Ackoff further puts that the next step is understanding the behavior of the parts individually and then determining the behavior of the whole system from the individual contributions of each part (Ackoff p. 12, 1999). According to Russell, management thinking involves synthesis and synthetic thinking in the process of understanding and explaining what is ...

Introduction

The local economic context is being reshaped by the insertion of local economics into the globalization of network toward production and consumption. Currently the entrepreneurs are becoming more aggressive catalysts for change in the business world. They are regarded as the individuals who see the opportunity where others see confusion contradiction or chaos. Entrepreneurs are perhaps compared to the Olympic athletes who challenge themselves to break the barrier to the long distance runners or as symphony orchestra conductors balancing different sounds and skills into a cohesive output (Boyles, 2012). However, the essential ingredients of a good entrepreneur include the ...

Leadership refers to an individuals' ability to motivate, influence and help others to contribute towards success and effectiveness in an organization. On the other hand, management involves controlling and directing a team so as to coordinate and harmonize it towards achieving set goals and objectives (Prahalad & Hamel, 2006). For any business to realize expected outcomes, both management and leadership must coordinate. Management creates room for leadership to motivate the workforce and develop it so that it becomes focused towards the accomplishment of visions and inherent duties. Many companies regard management skills since they provide individuals with new ideas aiming ...

1.Costing is a very important part of accounting. It involves the basic financial data which will help in price fixing as well as in profit marking. There are many aspects to costing and each one is relevant depending on the product or service provided by the owner. Relevant costing is an important aspect in costing and accounting decisions. A relevant cost is the cost which is specific to a management decision. This generates only the information which is necessary for decision making and removes the unnecessary extraneous information. Relevant cost is only specific and limited to a particular decision ...

Abstract

Banking and finance is arguably and in reality one of the biggest industries, if not the biggest. According to a recent report published by IBIS World, the banking industry has collective revenue of around $687 Billion. This is consolidated for the approximately 5,324 individual businesses and firms tied to the industry. In terms of its manpower size, the said report claims that the industry as a whole employs, both directly and indirectly, some 1.56 million people . If building doing business in the banking industry is being considered a venture, one has to factor in some important factors such ...

Introduction

This paper explores the costing and pricing methods applicable to firms in the tourism and travel sector using Allegiant Travel Company as an example. Allegiant Travel Company is an American company providing leisure travel products and services to under-served cities in the US. It provides air transport, air transport-related products, travel protection products, hotel rooms and other third party travel products. The paper also analyses the financial statements to assess its financial state.

Costing methods

Several costing methods can be applied in the tourism industry depending on the nature of the assignment and the operations of the organization. Applicable costing methods ...

In the context of contemporary global business environment, a good business model describes the logical functioning of a business/organization and it pronounces the specific manner in which a business makes profit. Principle description of a business model helps to understand, analyze, and communicate the key factors of success or failure of a business. Principally, a well-developed business model is comprised of three major components i.e. value proposition, value chain structure, and revenue model. The value proposition is the first and the most significant component of a business model as it directly communicates the business value to the customers. The ...