Customer Needs and Expectations Free Essays

Here at Travel Weekly one of the agents at Virgin Atlantic have respected us by composing an article about ‘A day as a representative’ Lets see what Kaye Goodwin from Virgin Atlantic needs to state! In a day of a delegate at Virgin Atlantic I need to take a gander at how these requirements are recognized and I should cover: Customer demands recorded as a hard copy Customer solicitations to agents of associations verbally (up close and personal or phone) Recognition of implicit needs Customer type one: Families In the event that a family was too expressly stated in a solicitation, since they may have small kids, they might compose their solicitations to me in an email in view of comfort and time. For instance: a mother and father of two little youngsters won't have the opportunity to come into the trip specialists to plunk down and mention to me what sort of occasion they might want. In this manner by sending me an email with the solicitations they might want, it would spare a great deal of time, and I can look into the entirety of the data for them and react back to them by means of email. We will compose a custom paper test on Client Needs and Expectations or on the other hand any comparable theme just for you Request Now Client type two: Couples If a youthful couple might want to go on a brief break or an occasion, they would come into the trip specialist and plunk down with me also disclose to me where they might want to go and what sort of occasion they might want. For instance: a youthful couple from Central London might want to book an occasion for early December. They come into the trip specialist and plunk down with me and mention to me what kind of occasion they might want. In the wake of gazing upward and examining various occasions, they would settle on a choice and ideally book the occasion. In the event that they might want more opportunity to consider it, I would give them a couple of broachers to bring home with them while they pondered it. Client type two: Elderly couple An old couple are destined to come into the trip specialists and plunk down with me to talk about the occasion they might want to go on. Subsequent to talking about a couple of occasions, I would suggest an occasion. E. g. I would state ‘there is a stunning estate in Spain that is on offer right now that is about a large portion of a mile away from the sea shore. In the event that one of the couples were to state that they have been to Spain previously and it was excessively hot, or that their accomplice couldn't walk far, that would be known as an acknowledgment of implicit needs, implying that they might want to go to a goal that is at a cooler atmosphere or they might want to remain in convenience closer to the sea shore. Client type four: Disabled People that have a handicap can speak with me in any capacity, I. e. up close and personal, by means of email or on the phone. In the event that a client was to call me and request data on various occasions however said that they were debilitated, I would understand this would mean they would be an implicit need, and they would require unique help. For instance if a woman who needed to book an occasion and was visually impaired or outwardly weakened, I would realize that they would require maps or signs to be set up in Brail and raised floors so they know when they are excessively near a pool. Undertaking 2b †clarify how travel and acknowledgment of their needs. The travel industry associations meet and surpass client desires utilizing models from organizations in the movement and the travel industry that you have explored. At the point when our organization (VA) perceive client needs, the clients can be face for face with one of our agents, have an online talk with one of our delegates or compose their solicitations too us. We address client issues by ensuring that the entirety of the flights work on schedule, aircraft staff are consistently accessible for help and consistently ensure that clients are stayed up with the latest with significant data, for example, flight times, flight deferrals and check in times. The way that we address these issues are by keeping staff refreshed with data, standard declarations for clients at the air terminals and ensuring that arrivals/take off are arranged appropriately to stay away from delays if conceivable. Assignment 2c †break down how travel and the travel industry associations meet and surpass the client needs and desires through the acknowledgment of their needs. You ought to extend the connections between needs, ID of requirements and having the option to meet and surpass clients desires. Here at Virgin Atlantic, we distinguish and address client issues through client review polls/remark cards and client discussions/center gatherings. At the point when the review polls or remark cards have been perused by a part for our staff, typically the client care administrator, they at that point investigate the entirety of the remarks to discover territories of progress so as to address client issues. For instance, if various clients have griped about staff not knowing clear data I. e. bearings around the air terminal, costs of items or check in times, that would disclose to us that our staff are unequipped to support our clients. From this, we will at that point need to acknowledge and work our a method to get more data into our staff so as to address the issues of our clients all the more effectively. This should be possible from multiple points of view, anyway the best one for this circumstance is hold normal morning/evening gatherings to keep staff refreshed with data. At the point when we surpass client desires, we like to go that additional mile by giving out clients more inside and out data. A case of this would be the point at which a client solicits just the time from their flight, we like to ensure that our staff will completely illuminate our clients regarding their flight time, loading up time, door number and if there will be any deferrals. At the Martime Museum (NMM) they meet and surpass clients desires by ensuring that the organization works as expected. The entirety of the staff are allowed a multi day acceptance and afterward on-going preparing expert grams are offered to all staff. All staff are completely prepared and new individuals from staff are collaborated with an accomplished colleague to meet the entirety of the clients needs. At NMM there are client remark cards, client studies and center gatherings to guarantee that the association recognizes what their clients need and if there are any objections being made. For a model if the exhibition hall had various protests about staff not having enough item information/data I. e. foundation history of the territory they were working in, that would tell the supervisors/proprietors that their staff are unequipped to support their clients. From this data, they work their approach to getting more information into their staff. This should be possible from multiple points of view yet the best way is give the staff all the more preparing and hold gatherings normally o ensure that they have satisfactory information to be working with the clients. Step by step instructions to refer to Customer Needs and Expectations, Papers

Film Festival Start Ups :: Movies Films Film Festivals Essays

Film Festival Start ups Silicon Valley decently overflows with life and vitality. Wherever you look new organizations, thoughts and developments are moving and on the ascent. Welcome to the place where there is new businesses; little organizations with a fantasy who endure and flourish by ability, karma and sheer relentlessness. While the term typically portrays cutting edge ideas, new companies have large amounts of the Valley - from the little providing food organization on the comer to the local printing shop down the road to the neighborhood film celebration. Indeed, it's hard to believe, but it's true - film celebration. The Local Scene Film celebration as a rule invokes pictures of stretch limos, sparkling beginnings and raging paparazzi. Think Cannes or Sundance and you prepare to stun the world spending plans, huge personalities and big-time Hollywood dominate. Considerably littler, progressively neighborhood celebrations have similar suggestions. Take the San Francisco International Film Festival. Hero of such untouchable interests as gay rights, and American Indians well before those ideas got worthy, SFIFF has mellowed with development. Called the dim woman of nearby fests by Dennis Harvey in Variety (June 30, 1997), the SFIFF keeps on supporting worldwide assorted variety, yet with all the more a renowned, elitist environment. The air, obviously, has gotten increasingly rarified in San Francisco. The second biggest film celebration in the Bay Area, the Mill Valley Festival has a considerably more loosened up environment. Be that as it may, even inside this climate, a portion of the requirement for standard ac knowledgment and cash will in general seep through. New businesses appear to have two predeterminations - brilliant achievement or complete disappointment, with minimal center ground. Other film celebrations have wandered into the Silicon Valley previously. The greater part of them had brilliant possibilities - toward the start. The Santa Cruz Festival, the San Jose Film Festival and the Monterey Film Festival, all demonstrated extraordinary guarantee, and none made it to a third year. The Santa Cruz Festival ran from 1982 to 1985, and kicked the bucket of flighty taking care of. Some portion of the Santa Cruz enchant is its devotion causes, its wild freedom and the vibe that meets up with single word - Burkenstocks. Sadly, the wild, flighty and genuinely chaotic propensity that adds appeal to the city murdered the film celebration. With fiercely flighty programming that could confound even committed fans and the demise of celebration discovered Les Goldman in 1986, the Santa Cruz Festival spent into the night. In 1984 San Jose made its wound at a celebration. The Cinema of the Fantastic concentrated on sci-fi and dream first and foremost.

How BAC Is Measured and How It Can Affect Your Body

How BAC Is Measured and How It Can Affect Your Body Addiction Alcohol Use Print How Blood Alcohol Concentration (BAC) Impairs Your Body and Brain By Elizabeth Hartney, BSc., MSc., MA, PhD Elizabeth Hartney, BSc, MSc, MA, PhD is a psychologist, professor, and Director of the Centre for Health Leadership and Research at Royal Roads University, Canada. Learn about our editorial policy Elizabeth Hartney, BSc., MSc., MA, PhD Updated on September 19, 2019 DarrenMower /E+ / Getty Images More in Addiction Alcohol Use Binge Drinking Withdrawal and Relapse Children of Alcoholics Drunk Driving Addictive Behaviors Drug Use Nicotine Use Coping and Recovery Blood alcohol concentration (BAC) is a measurement of the percentage of alcohol thats in your bloodstream after youve been drinking. Your BAC, rather than the exact amount of alcohol youve consumed, will determine the effects the alcohol will have on you. In all states,  the legal limit to drive is any number below .08. Factors That Affect BAC Body sizeBiological sexPhysical conditionMedications you takeWhat youve eaten (and when)How much sleep youve hadAlcohol content of your drinks As BAC increases, so does the level of alcohol-related impairment you will experience. While a breathalyzer gives fast results and is often used by police officers who suspect that an individual has been driving while drunk, it is not as accurate as measuring the amount of alcohol in your blood.?? How BAC Is Calculated To calculate BAC, the amount of alcohol in the bloodstream is measured in milligrams (mg) of alcohol per 100 milliliters (ml) of blood. It is usually expressed as a decimal such as 0.08 or 0.15. For example,  a BAC of 0.10% means that an individual’s blood supply contains one part alcohol for every 1,000 parts blood. How BAC Affects Impairment The Centers for Disease Control and Prevention provides the following chart which illustrates how alcohol consumption and BAC can impact behavior, judgment, physiology, and driving ability.?? BAC Standard Drink Equivalent Typical Effects Predicted Effects on Driving 0.02% ~2 alcoholic drinks Some loss of judgment, relaxation, slight body warmth, altered mood Decline in visual functions (rapid tracking of moving target) and ability to perform two tasks at the same time (divided attention) 0.05% ~3 alcoholic drinks Exaggerated behavior, loss of small-muscle control (e.g., focusing your eyes), impaired judgment, lowered alertness, release of inhibition Reduced coordination, reduced ability to track moving objects, difficulty steering, reduced response to emergency driving situations 0.08% ~4 alcoholic drinks Poor muscle coordination (e.g., balance, speech, vision, reaction time, hearing), difficulty detecting danger, impaired judgment, self-control, reasoning, and memory Loss of concentration, short-term memory loss, impaired speed control, reduced information processing capability (e.g., signal detection, visual search), impaired perception 0.10% ~4 alcoholic drinks Clear deterioration of reaction time and control, slurred speech, poor coordination, slowed thinking Reduced ability to maintain lane position and brake appropriately 0.15% ~7 alcoholic drinks Far less muscle control than normal, potential for vomiting, major loss of balance Substantial impairment in vehicle control, attention to driving task, and visual and auditory processing The number of drinks listed represents the approximate amount of alcohol that a 160-pound man would need to drink in one hour to reach the listed BAC in each category. A standard drink is equal to 14 grams (0.6 ounces) of pure alcohol. Generally, this amount of pure alcohol is found in: 12 ounces of beer (5% alcohol content)8 ounces of malt liquor (7% alcohol content)5 ounces of wine (12% alcohol content)1.5 ounces or a “shot” of 80-proof (40% alcohol content) distilled spirits or liquor (e.g., gin, rum, vodka, whiskey) Your blood alcohol level results may be given in different ways, including the percentage of blood alcohol content (BAC). Typical results include: Sober:  0.0% BACLegally intoxicated:  .08% BACVery impaired:  .08â€"0.40% BAC. You may have difficulty walking and speaking. Other symptoms may include confusion, nausea, and drowsiness.At risk for serious complications:  Above .40% BAC. An individual with this blood alcohol level may be at risk for coma or death. A blood alcohol test is only accurate within 6 to 12 hours after your last drink. If you have concerns about your results, you may want to talk to a health care provider and/or a lawyer. How Blood Alcohol Content Works

Jamaica - 1187 Words

FDI Assignment As a group of American investors, we’re introducing the idea of bringing solar energy to the island of Jamaica. Our initial objective is to provide an efficient yet safe means of energy to the Caribbean island. The efforts towards introducing solar energy to the population of Jamaica will provide many of its underprivileged citizens with an efficient and reliable means of energy for their everyday lives. Our business, Global Energy Investment, is based in Miami, Florida and has been around for the past 15 years, participating in business initiatives such as exporting venture capital as well as trade and export. We looked for opportunities where we can be an asset to nations in hopes of not only improving the lives of†¦show more content†¦Jamaica’s representation as our host country is due in part to its yearning desire to attract more foreign investment. Since 1998, the Jamaican government has liberated its market in hopes of attracting foreign investors. By 2005, Jamaica created a Free Trade of Americans opening its borders and relieving its trade barriers for U.S. products. Some tax incentives include the Tax Relief Act which provides incentives to those who invest in infrastructure development and provides repatriation of funds. Jamaica Overview According to the United Department of State, Jamaica is the third largest island in the Caribbean Sea behind Cuba and Hispaniola. Its geographical area is 10,991 sq. km (4,244 sq. mi.) It estimated population is 2,668,380 and has three major cities: Kingston the capital, Montego Bay, and Spanish Town. Its Terrain is Mountainous and coastal plains, and contains great Tropical climate. Jamaica has two official languages: English and Patois/Creole. In addition, Jamaica is well known for its Reggae music and for its beautiful beaches with crystal clear water. Jamaica became independence in 1962 and formed a Democratic Constitutional Parliament System of government similar to the United Kingdom (UK) Common Law or Commonwealth Systems. The same source continued to explain that the United of America and Canada are the closest proximity developed countries to the Caribbean SeaShow MoreRelatedThe Island Of Jamaica, Jamaica1464 Words   |  6 Pagesproject I chose the island of Jamaica, a place that I have been longing to visit for quite sometime. Jamaica is an island that is a part of the Greater Antilles located 90 miles south of Cuba and 100 miles west of Haiti. The island has an area of 4,243 square miles and a 635-mile coastline. This beautiful island is covered in rugged mountains, with some being volcanic, and has its highest peak on Blue Mountain at 7,401 feet! (Briney) As of July 2014 the population of Jamaica is 2,930,050 people, whichRead MoreJamaica Is The Country Of Jamaica1125 Words   |  5 Pages Jamaica is an island country sitting in the middle of the beautiful Caribbean Sea. This island is 10,990 square kilometers and is currently home to 2,950,210 Jamaican citizens (Rogers). The population density is 252 citizens per kilometer squared and is growing at a rate of 0.4 percent. In regard to the size of the island, Jamaica is the fourth largest island in the Caribbean Sea. According to a The World Factbook: Jamaica, Jamaica’s terrain consists of mostly rocky mountains with narrow discontinuousRead MoreCulture Analysis : Jamaica. Jamaica1394 Words   |  6 Pageson is Jamaica. Jamaica is a third world country located in North America and the 3rd largest island in the Caribbean Sea. There is a 2.5 million population, which equally divided between urban and rural areas. The country runs approximately 146 miles long and varies between 21- 52 miles wide. The climate is tropical and its main tourist attraction is their beautiful beaches. The capital of Jamaica is Kingston, which has a population of more than 645,000. Kingston is the chief port of Jamaica and isRead MoreJamaica1862 Words   |  8 PagesAbstract Left blank intentionally. JAMAICA Jamaica is an island country situated in the Caribbean Sea, comprising the third-largest island of the Greater Antilles. Jamaica has a long history of census taking, and currently holds a census every ten years. The last census took place in July 2011, which showed a total of 2,697,983 residents in the country.  The largest cities in Jamaica with populations as of 2011 are: Kingston (Kingston Parish): 937,000, Portmore (Saint Catherine): 182,000Read More Jamaica Essay1199 Words   |  5 Pagesknown to its natives as â€Å"Xaymeca†, has come a long way in becoming the independent nation known today as Jamaica. In the Sea of many islands known as the West Indies, Jamaica stands peaceful, welcoming tourist and expanding rapidly. From an early age my passion for the island and its culture has grown strong. From a brief history, through a look into the present day culture and society of Jamaica, my fascination with the island will bares true meaning. nbsp;nbsp;nbsp;nbsp;nbsp;Between the brokenRead MoreEuropeans in Jamaica1509 Words   |  7 PagesWhen did they come? Jamaica was first colonized by a native group of South American origin who, in the early history of Jamaica, called their home a paradise of wood and water. The Arawak were there to greet Christopher Columbus when he arrived in Jamaica in 1494, beginning a long period of European colonization there. The history of Jamaica as a European outpost saw the island under Spanish rule for 150 years, during which the city now known as Spanish Town was established and flourished as theRead MoreVacation in Jamaica1370 Words   |  6 Pagesa lifetime vacation in Jamaica. Since my husband and I got married in May of 2010, we did not have a honeymoon or a vacation. So my husband Ryan and I came to a decision that we are going to take this opportunity and spend lavishes on a combo vacation. This trip was once in a lifetime vacation in Jamaica, and we were very excited, I felt like a little kid waiting for my very first candy. Ryan and I went ahead and book our vacation at Sandals, in Montego Bay, Jamaica. There was so much toRead MorePoverty Of The Country Of Jamaica1441 Words   |  6 Pages In the film Life and Debt, the country of Jamaica is a prime example of how governments not having involvement in their money creates larger inequalities. When tourists visit Jamaica they are excited to find out one US dollar exchanges for one hundred and twenty-seven Jamaican dollars, but tourists don’t realize their newly traded money is a result of many devaluations imposed by the International Monetary Fund (IMF). The IMF got involved with Jamaica because the country was unable to be stableRead MoreNorway, Cuba, And Jamaica1319 Words   |  6 Pages My country’s populations that I will inform about are Norway, Cuba, and Jamaica. Norway is in Northern Europe on the western and northern part of the Scandinavian Peninsula. Cuba is a part of the Caribbean Sea, west of Haiti across the Windward Passage on and south of the Bahamas. Jamaica is island in the Caribbean Sea, which is the third-largest island of the Greater Antilles. These countries have very diverse cultures and populations due to many factors in each country. Norway has a populationRead MoreJamaica and Its New Experience663 Words   |  3 PagesThe government of Jamaica has announced that it hopes to gain major foreign investment and create many jobs through the development of a ‘logistics hub’. The government believes that Jamaica’s geographical position will allow it to become an important part of the global value chain by serving at least some of the estimated 12,500 ships that will be passing through the Panama Canal as of 2015. According to information published on the government’s official website: With major investments and

Enterprise-Rent A Car Analysis - 740 Words

Santander is the Spanish capital of Cantabria, a port city located on the northern coast of Spain. It is most famous internationally for being the birthplace of the famous Banco Santander, but there is much more to the city than just finance. Santander has a rich cultural history and a grand cathedral, alongside such landmarks as the Lighthouse of Cabo Mayor. More recent modernisation has made Santander one of Spains first ever Smart Cities, with vital services run by sensors and computers. Whatever the reason for your visit, Enterprise-Rent-A-Car will provide the transport you need to get around. With two branches at either end of the city, well get you on the road as quickly as possible. Find us at Santander Train Station close to the†¦show more content†¦The airport primarily handles domestic flights within Spain, but it also provides transit to and from other major airports in the EU. It is a relatively busy airport, but not particularly large. If you need a rental car i n a hurry after disembarking, Enterprise runs one branch (Santander Airport) located outside the main airport terminal. You can find us on the main N-636 road loop, off of the S-10 road approaching the building. Attractions in Santander Santander is well known for its impressive beaches and lighthouse alongside the religious and architectural heritage of the city. In particular, the Penisula of Magdalena is famous as a beautiful natural landscape. If you want to spend some time at the seaside, the Playa Primera de El Sardinero is the best-regarded beach in the city. The cathedral, palace, and grand casino of Santander are also famous tourist destinations if youre looking to do something indoors. The more modern parts of the city to the south also contain a decent range of retail and grocery outlets. Places to Visit Outside of Santander The modestly-sized city of Santander is only a short distance by road from a number of other important Spanish cities and national parks. The market towns of Astillero, Sollares, and Torrelavega are all nearby, and all contain pleasant walks, hotels, and more opportunities to shop. If youre looking for outside activities, the nearby Naturaleza de Cabà ¡rceno Park contains incredible views and hiking trailsShow MoreRelatedEnterprise Rent-a-Car Marketing Case Analysis Essay2679 Words   |  11 PagesEnterprise Rent-A-Car | Case # 1 | Enterprise Rent-A-Car has started its operations in 1962 by establishing and successfully developing a new niche in the car renting industry. The business had strictly focused on replacing local citizens’ cars due to repairs. Later on Enterprise started to serve two additional segments, leisure discretionally rentals and business rentals. Newly launched segments were successful; however the main focus of Enterprise continued to be the initialRead MoreEnterprise Case Study Essay1716 Words   |  7 PagesAssignment for Course: MKT5017- Delivering Superior Customer Value Submitted to: Donovan McFarlane Submitted by: Paige Chin- paige.chin@live.com Date of Submission: July 25, 2012 Title of Assignment: Case Analysis 1- Enterprise Rent A Car CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledge and disclosed in the paper. I have also cited any sources from which I used dataRead MoreA Closer Look At Enterprise Rent A Car Essay1979 Words   |  8 PagesDefining the Industry In this industry analysis, we will be taking a closer look at Enterprise Rent-A-Car, which operates in the car rental industry. This industry consists of firms who rent automobiles to consumers for a short period of time. This company is a part of the larger corporation called Enterprise Holdings Inc. and is considered to be their flagship brand (enterpriseholdings.com). According to Enterprise Holdings, Enterprise Rent-A-Car is the largest car rental firm in the U.S. and has overRead MoreEnterprise rent a Car Strategy3278 Words   |  13 Pagesï » ¿ Enterprise Rent-A-Car is one of the largest car rental companies in North America. It specializes in providing customers temporary or a replacement vehicle. Jack Taylor founded the company in 1957 where he started Enterprise Rent-A-Car as an Executive Leasing Company with only seven cars. The company began leasing cars for longer periods. Later on executive leasing launched itself as a short-term rental operation with 17 cars plus a car sales division. That’s when the company changed its nameRead MoreOlympic rent a car1836 Words   |  8 PagesOLYMPIC RENT-A-CAR US CASE STUDY STUDENT: JOSÉ FILIPE SOUSA CARVALHO SUMMARY Olympic is a US rent-a-car company facing some changes in the market it operates. A competitor company (Enterprise) is changing its loyalty program. Olympic managers have to evaluate the impact of those changes and to take actions in order to respond correctly to those changes without losing market share and if possible taking advantage of the situation. The aim of this study is to evaluate those changes and to proposeRead MoreThe Competitive Forces Challenging Hertz1642 Words   |  7 PagesExternal Analysis Based on the results of Porter’s model, the following are the competitive forces challenging Hertz (Appendix A). Competitive Forces Firstly, Hertz faces low threat of entry from the competitors. As Hertz serves in the car rental and equipment rental industry it has low barriers to entry due to need of excessive amount of startup cost and through product differentiation. With the company’s excellent economy of scale the new entrants might find difficult to survive. By aiming atRead MoreOverstock.com Company Analysis852 Words   |  3 Pagesintermediary. Their products are for sale to customers at wholesale or less wholesale prices. The goods for sale include bed-and-bath supplies, home appliances, kitchen utensils, watches, jewelry, gadgets, sporting merchandise, clothes and accessories. SWOT Analysis Strengths The source of Overstock.com’s power on its expansion plans come from their skilled executive team and large funds set aside to take advantage of unanticipated opportunities. Among the online retailers at present, the prices of their merchandiseRead MoreFlower of Service Markrting1270 Words   |  6 Pages  that   flower   service   play   would   be   used    in   my   basis   of   analysis   at   the   end   of   this   report.                                 First   we   look   at   a   High   contact   service   that   I   have   personally   experience   first    hand,   which   is   Enterprise.   A   car   rental   service   that   has   its   core   product   that   offers   a Read MoreEnterprise Rent a Car Essay1944 Words   |  8 Pages1-0 SUMMARY Jack Taylor began his business of Enterprise Rent-A-Car in 1962 in St. Louis, Missouri. Following the successfully philosophy of, Take care of your customers and employees first, and profits will follow, Enterprise grew steadily to become the nation’s largest rent-a-car company. What separated Enterprise from its other competitors such as Hertz, Avis, and Alamo was the fact that the company focused on two segments of the home-city market rather than appealing to the airport-rentalRead MoreBusiness3599 Words   |  15 Pagescustomer service policy 3 1.2 The purposes of evaluating a customer service policy, indicating how this can assist future staff training and development 4 2.2 Evaluation of different communication methods and how these used to best effect 5 2.2 Analysis on customer perception is influenced by customer service provision 5 3.1 Sources of information on customer requirements and satisfaction levels 6 3.2 Carry out research on customer requirement and satisfaction levels for a selected business, suggesting

Introduction to Marketing and Creative Product Promotion Free Essays

Introduction to Marketing and Creative Product Promotion NME The New Musical Express also known as the NME is a popular music publication in the United Kingdom. NME has published weekly since March 1952. It started as a music newspaper, and gradually moved toward a magazine during the 1980s. We will write a custom essay sample on Introduction to Marketing and Creative Product Promotion or any similar topic only for you Order Now Market PenetrationMarket Penetration that NME has done is created a magazine yearly subscription this is market penetration because the product is not being changed its just offering a new way of being able to purchase the product. It still appeals to the same market and people who read and by the magazine. Product DevelopmentOne way that NME has developed its products are to host stages at festivals, with bands that they support. They advertise their products through this stage and at Reading and Leeds festival these having become well known stages. | Market DevelopmentA type of market development that NME has done is creating NME. com, a website which holds the same content as the magazine but appeals to people who use the internet a lot rather than buying a magazine. | Diversification One way that NME has used diversification is by sponsoring a UK tour known as the NME Tour. These tours appeal to different people and it is a completely new product. | Existing Products New Products Survival Strategies NME stays on top of the market by without fail having a weekly edition to the magazine with new and exclusive information in the music scene. It gives updates on top flight bands, as well as looking at new and upcoming music artists which makes it different to many other magazines. The magazine also runs regular competitions to win tickets to music events, which appeals to the customers as it is a music magazine. NME also advertises a large amount and has its own radio station and TV programme, which they use to advertise their main products being the magazines and ticket sales. Relationship Marketing NME uses relationship marketing in a way by creating monthly subscriptions to avid readers at a cheaper price. The weekly price of the magazine is ? 2. 20 however you can get a monthly subscription of the magazine for just ? 6. 50 a month which annually saves the customer 36%. This is a good saving and customers can be enticed to subscribe by the savings, also the longer you subscribe to the magazine the better savings you gain. Another way NME uses relationship marketing is by offering customers free CD’s and posters with the magazine this makes the customers feel as if they are getting more for their money and keeps them more happy as they are receiving more than they usually pay for when buying the magazine. Branding NME uses brand extension by creating one of magazine specials which cost more and include large amounts specific information these magazines appeal mostly to people how are interested in that certain topic. NME uses brand positioning because it is the only magazine that looks at up and coming bands instead of just well known artists, it is also mainly focused on the alternative genre of music. NME builds their brand by having events such as the NME awards this gains a large amount of publicity and helps NME gain customers and also informs the public about the music that they report on. Wilkinson Wilkinson is a British high street discount chain with over 300 stores, selling primarily home wares and household goods. Founded in 1930 Wilkinson Cash Stores by James Kemsey Wilkinson, the company has remained largely in the hands of the founding family since. Market PenetrationAn example of Wilkinson’s Market penetration is that in the 1950s there was a rise in the use of labour saving devices and DIY. Wilkinson responded by making this type of product the focus of its sales. They did this by ensuring that their products were a lot cheaper than the rest of the market. | Product DevelopmentOne way that Wilkinson has developed its products are In the 1960s customers wanted more convenience shopping. Wilkinson started selling groceries and supermarket goods and created the Wilko brand. In the 1980s Wilkinson extended its range of low-cost products to include quality clothing, toys, toiletries and perfumes. | Market DevelopmentA way that Wilkinson have developed there market is in 1995 it opened a central distribution centre in Worksop, serving stores in the north of England and in 2004, a new distribution centre opened in Wales. This is because they are creating new markets by opening more stores across the UK. | Diversification In 2005 Wilkinson launched its Internet shopping service, offering over 800,000 product lines for sale online. It created new products to sell online which will appeal to a different market. | Existing Products New Products Relationship Marketing Wilkinson wanted to satisfy customers with their needs met by the Wilkinson range of products. A marketing campaign was launched which focused on a range of promotional tactics, designed to appeal to university students. Wilkinson attended fresher’s fairs and gave out free goody bags with sample products directly to students. Direct mail flyers were sent to homes and student halls prior to students arriving. Advertisements with a fun theme for example, an advert showing frying pans as tennis racquets, offering discounts of 15% with first purchase using the online store. They were given gift vouchers and free wall planners. The challenge was to get students into Wilkinson stores. The opportunity was to capture a new customer group at an early stage and provide essential items all year round. This would lead to a committed customer group and secure business. Survival Strategies Wilkinson attempts to stay on top of its market by always having the cheapest products which maintain a good quality for the cost they are. Their main competitors are places such as Poundland however these shops are 99p stores therefore Wilkinson has the edge over these shops as it is deemed as better quality products because they are more expensive however still cheaper than majority of stores. They also now offer home delivery and online shopping compared to smaller competitors none of them do this, so they are also providing better service than other stores. They regularly hold offers for customers making the shop even more appealing using BOGOF and half price techniques to draw in customers. Branding Wilkinson use their own brands to appeal to customers these are more cheaper products and they create a range of different products such as dinnerware to towels. They call these products Wilkinson Premium Ranges which make them seem like they are a cheap alternative to other places and the name premium makes them seem that they are at a higher quality. Wilkinson stores are of an average quality and serve the purpose in which they need to, products are on display in store for customers to use and the store are set out into sections being food, home ware, health and beauty and children’s toys. How to cite Introduction to Marketing and Creative Product Promotion, Essay examples

Fair Value Accounting For Financial Instruments

Question: Discuss about a Report on Fair Value Accounting For Financial Instruments? Answer: Introduction Barrow (2011) opines that for every business organization, financial statement analysis is of great essence. An effective analysis of the financial statements helps a business organization to evaluate their respective future business strategies in accordance to their financial health status. This report will highlight the financial status of the organization Universal Health Services and based their financial status, several recommendations will be given. The organization is one of the largest health and social business firms in United States and is listed as New York Stock Exchange (Uhsinc.com, 2015) Review of the financial statements The major financial statements of the organization are income statement, balance sheet and cash flows. The total amount of cash flows has a direct impact on the working capital management of the organization. From the income statement, the total amount of expenses and receipts are derived. The profit derived from the income statements is added to the balance sheet of a respective firm. In case of Universal Health Services, the total amount of cash flows is positive that is $1036 which is also higher than the previous years. The financial statements of the organization reflect that the net revenue of the organization is $8065 million in the financial year 2014 which is higher than the previous years. The profit margin of the organization is also on the higher side with $545 million in the financial year of 2014 which is higher than the previous financial years. The earnings per share of the organization have also increased considerably with 5.21 per share. In terms of financial ratios, the current ratio of Universal Health Services is 1.11, while the debt equity ratio of the organization is 0.86. The organization has performed well in comparison with the last financial year of 2013, where its current ratio was 1.07 and debt equity ratio was 0.99. In terms of efficiency ratios of the organization, the inventory turnover ratio of the organization is on the lower side, with 8.53 which is may lower than in the year of 2013 (44.08). This reflects that the organization is inefficient in the management of inven tory. Though, the total amount of sales and net profit has increased, but, the return on equity ratio of the organization has declined from 17.13 to 15.61 from 2013 to 2014. However, the working capital is on the higher side, though the management of inventory is lower. Therefore, the current status of the financial statements will have a major impact on the various stakeholders group of the organization that is the employees, investors and shareholders (Financials.morningstar.com, 2015). Employees- The employees will be happy as the profitability of the organization Universal Health Services has increased and the organization is successfully expanding its branches with proper sources of income. In addition to this, the financial reports of the organization also reflect that the salaries and wages of the employees have increased in the financial year 2014 in comparison with the last financial year. This is a very good sign for the employees. On the contrary, the long term debt of the organization has increased and goodwill has declined. This can play a negative impact on the mindset of the employees. Investors- The return on equity of the firm has declined in comparison with the financial year of 2013. This will have a negative impact as return on equity reflects upon the percentage of return on the capital invested by the investors of the firm. The debt-equity ratio of the firm is on the lower side, which may have a positive effect upon the investors (Eun Resnick, 2012). Shareholders- The share prices of Universal Health Services are increasing at an increasing rate. Presently, the share price is 142.83 which were around 81.33 in the year 2014. This further suggests that the shareholders of the organization will be happy with the performance of the organization in the share markets. However, the return on shareholders equity is lower and the long term debt has also increased. Therefore the share prices may fall in the future based on their fundamentals (Madura, 2012). Current industry trends effecting the financial performance The current industry trends among the hospital industry reflect about the fraudulent claims from the patients. This has direct impact on the value of inventory and amount of goodwill of the organization. Another impact is regarding with the code and conduct of the hospital industry. This may have a negative impact on the customers due to several false and fraudulent claims. Therefore, it is recommended that the organization Universal Health Services needs to minimize the amount of false claims on the customers and improve their status of goodwill on the eyes of the stakeholders. This will further have a positive impact over the performance of Universal Health Services (Schnbohm, 2013). Recommended strategy to improve financial performance The organization Universal Health Services needs to improve the price of their inventories in order to improve their inventory turnover ratio. The organization also requires nullifying safety stock within their inventory system. This will also increase the sales of the firm and will further improve the return on equity and return on capital employed. The management of Universal Health Services needs to implement better forecasting techniques to minimize the variances of the financial performance. In addition to this, the organization needs to fulfil the requirements of all their stakeholders to improve their long term financial performance. Apart from this, the organization may also improve their short term working capital cycle to meet short term requirements. The organization may also cut down their operating expenses in order to improve its profit margin (Barrow, 2011). The organization can implement the given strategies by proper division of short term and long term requirements. In addition to this, the organization may implement the FIFO method in order to clear off their inventory by a large percentage. In addition to this, the organization may give more amounts of returns to the shareholders by declaring a higher rate of dividend. This will also fulfil the requirements of the stakeholders by a large extent (Blankespoor, et al. 2013). Conclusion It is concluded that financial analysis plays an effective role to design the strategic objectives of any organization. The information resources that were used annual reports, company websites and financial sites. Several strategies have been recommended for the organization Universal Health Services in terms of its financial performance in the last financial year. References Blankespoor, E., Linsmeier, T. J., Petroni, K. R., Shakespeare, C. (2013). Fair Value Accounting For Financial Instruments: Does it improve the association between bank leverage and credit risk?.The Accounting Review,88(4), 1143-1177. Barrow, C. (2011). Practical financial management. London: Kogan Page. Bekaert, G., Hodrick, R. (2012). International financial management. Boston: Pearson. Eun, C., Resnick, B. (2012). International financial management. New York, NY: McGraw-Hill. Madura, J. (2012). International financial management. Mason, OH: South-Western, Cengage Learning. Ramsden, P. (2011). Financial Management. London: Hodder Education. Financials.morningstar.com,. (2015). Growth, Profitability, and Financial Ratios for Universal Health Services Inc Class B (UHS) from Morningstar.com. Retrieved 7 July 2015, from https://financials.morningstar.com/ratios/r.html?t=UHS Lasher, W. R. (2013).Practical financial management. Cengage Learning. Schnbohm, A. (2013).Performance measurement and management with financial ratios: the BASF SE case(No. 72). Working Papers of the Institute of Management Berlin at the Berlin School of Economics and Law (HWR Berlin). Uhsinc.com,. (2015). Annual Report Archive - Universal Health Services. Retrieved 7 July 2015, from https://www.uhsinc.com/about-us/uhs-annual-report-archive/