Financial Wellness Essay Example | Topics and Well Written Essays - 250 words

Money related Wellness - Essay Example sted in a wide assortment of money related instruments, for example, regular stocks, favored stock, corporate securities, treasury bills, and subordinate instruments among different choices. Individuals can utilize funds to anticipate their retirement (Cnn). A territory of accounts that I frequently experience difficulty with is planning. I generally attempt to make an individual financial plan of my costs each month, however it appears as though my own spending plans are consistently off. I generally wind up going through more cash than what my financial plan specifies. The utilization of programming, for example, exceed expectations or revive can assist individuals with dealing with their own financial plans better (Intuit). Budgetary objectives are significant. â€Å"The initial phase in close to home budgetary arranging is controlling your everyday monetary undertakings to empower you to do the things that brings you fulfillment and enjoyment† (Fowles). These objectives can be built up for the prompt, short, medium and long haul. Shrewd objectives are explicit, quantifiable, feasible, practical, and ideal (Topachievement). A quick objective is to spare in any event $300 toward the month's end. A transient objective is to buy a nother cell phone inside one to two months. A subsequent momentary objectives is to set aside cash to buy winter garments. A middle objective is to expand the estimation of my speculation portfolio by 10% toward the year's end. Another objective is to set aside cash for an initial installment on another home inside five years. A drawn out objective is to spare $250,000 by retirement

Working with Individuals Essay

Working with Individuals Essay Working with Individuals Essay Working with Individuals Customers Interview Wilson K. Ogletree Murmurs 250 Elizabeth Gardner LMSW August 29, 2013 A. Recognizing Information: Name of customer Tina Address: 1515 Park Lake Ave. Rochester, NY 13378 Telephone number: 200-2339 Work spot of customer: Corel Corporation Age 55 Suppliers that are included name, telephone numbers, and organization: Family Court, Jeff Dolby 412-6608 Probation Officer B. Present Problems: 1. Current side effects and compliants-She expressed that there are no indications before or any right now. Tina has notice that the main agreeable is her more youthful child Bobby is by and large disobedient and contending with her. 2. Issues in home-Tina expressed that her child Bobby is having issues remaining in school and is waiting on the post trial process for battling. 3. Issues at work-Tina expressed that she can go to work and concentrat on carrying out her responsibility. 4. Issues with peers-Tina expressed that she for the most part dont scarcely associate with her family dependent on no correspondence, and trust. 5. Issues during recreation exercises Tina does alot of exercises with family as much as possible when not working. C. Current Living Situation and Activities: 1. Who does customer live with? Tina has expressed that she is remaining with more established girl Trish 28, and granddaughter. Tina additionally expressed that her other three children moved in with her at Trish her two siblings and one sister. There relationship is consistent and they attempt to get to know one another doing exercises as a family. For example, heading off to the shopping centers, playing a game of cards, and having family gatherings once per week to perceive how is everyones week is going on in and out the family unit. She likewise expressed that she gets along awesome with her kids acknowledge for Bobby who is 18 years of age. 2. Connection among customer and parent/watchman Tina expressed that she and her mom and father have a decent relationship. The two guardians are extremely dynamic, and strong. Tina expressed that the two guardians invest a lot of energy with grandkids as much as could be expected under the circumstances. Tina father have extraordinary relationship when she needs somethings around the loft done father encourages them complete many assignment around the condo and he invests a lot of energy with all the youngsters. 3. Connection among customer and (guardians) a. If it's not too much trouble list all kin by name Tina and guardians Molly mother and Jeff father have a solid relationship together. Mother and Father are steady to her and the youngsters. The kids appreciate there organization as much as the grandparents appreciate them. 4. What exercises does customer take part in-Tina likes to go to gambling club when she has a day of from work, and like going for strolls toward the end of the week to help unwind in the wake of working all week. She likewise expressed that she plays this game sweets smash that she adores playing since it loosens up her and understanding books. 5. Any issues with rest None right now Tina expressed that her dozing is generally excellent. D. Stressors: Passings in family-Father, he was loaded with euphoria, and he cherished the youngsters. He approached all individuals with deference, thoughtfulness and would give the shirt of his back for anybody. Its been for a little while since he past away however we understood he will be in are heart, and soul for ever. Separation Stated she didn't care for discussing it since it brings back terrible recollections, torment, saddness. Sickness None expressed during meeting Moves/Relocations-Tina expressed

Can a Cash Advance Actually Help Your Credit

Can a Cash Advance Actually Help Your Credit Can a Cash Advance Actually Help Your Credit? Can a Cash Advance Actually Help Your Credit?Cash advances just show up as normal credit card purchases on your credit report.When you’re in a financial bind and you need some quick cash, taking out a cash advance on your credit card can be an okay solution. Sure, they don’t come with the ludicrously high interest rates and short repayment terms of a payday loan, but they’re still much costlier than just maintaining an emergency fund.If you’re living paycheck to paycheck, you should also consider how a cash advance will affect your credit score. After all, a higher score will lead to lower (i.e. better) interest rates down the line, which means a rosier financial outlook overall.But how does a cash advance affect your credit score? Is there a chance that it could even help your score in the long run?A cash advance is a loan you take out on your credit card.When you make a normal purchase on your credit card, that amount you spend is added to your total balance. The same is tr ue when you take out a cash advance, the only difference being that you receive cash instead of a purchased item. If you were to take out a $60 advance, you would receive $60 in cash and $60 would be added to your total balance.When it comes to repaying your cash advance, nothing changes from how you would regularly pay down your balance. Ideally, you should pay off your balance in full every month, but your monthly minimum payments would only marginally increase with a cash advance added to your total versus a regular purchase.A cash advance is convenient, but it’s much more expensive than just using your card.However, there are some very important differences between cash advances and regular credit card transactions. For one, a cash advance comes with a higher interest rate than normal transactions. The difference will vary from card to card and from customer to customer, but the average credit card APR  is a bit over 16 percent while the average cash advance APR is almost 24 percent. That’s a big difference.Second, there is no way to avoid paying interest on a cash advance. With a standard credit card transaction, there is a 30-day grace period before interest starts to accrue. This is why it’s so important to pay your credit card off every month; it means borrowing money interest-free! But with a cash advance, interest starts accruing immediately. While it’s still a good idea to pay off your cash advance as soon as you can, there’s just no way to avoid paying interest.Lastly, you’ll typically get charged a fee for taking out a credit card cash advance. And it’s not a tiny fee either. The average cash advance fee is usually something like $10 or 5 percent, whichever is higher. That means that a $500 cash advance would cost $25 right off the bat!Does a cash advance have any effect on your credit score?Luckily, a cash advance won’t have any real effect on your credit. They aren’t recorded separately from other credit card transactions on y our credit report, so the credit scoring algorithms have no way of knowing what’s a cash advance and what’s a regular transaction. All they’ll see is a higher credit card balance.If you’re sensing a “but” coming, you are correct. Because, while cash advances won’t get noted on your credit score, a higher credit card balance will get noted and could possibly hurt your score if it grows too large. Your total amounts owed makes up 30 percent of your credit score, so taking out $1,000 cash advance and adding that thousand dollars to your balance could definitely lower your score.And a cash advance definitely won’t help your score. Taking out additional debt and paying more money towards interest just means higher balances and less room in your budget to pay them down. In theory, paying off a cash advance would help your score since it will get noted in your payment history (which makes up 35 percent of your score) but it’s not really going to have any effect. Failing t o pay your bill on time, however, will have an immediate negative effect.Some “cash advance” loans are actually payday loans in disguise.There are several types of no credit check loans that like to call themselves “cash advance” loans, possibly to make them seem more like credit card cash advances. But don’t be fooled.While some bad credit loans, particularly installment loans, can be a useful way to cover emergency expenses, predatory no credit check loans  are anything but. These loans come with much higher interest rates and significantly shorter payment terms, and they pose a much greater risk to your financial future.These loans are typically payday loans or title loans, which can carry annual interest rates anywhere between 250 and 500 percent. They’re meant to be paid back in a single lump sum payment, usually only a few weeks to a month after the loan was first borrowed. These factorsâ€"high rates and short termsâ€"can make these loans exceptionally hard to pay back on-time.These predatory “cash advance loans” could really hurt your score.Here’s the thing: These lenders don’t mind that. In fact, they stand to make a lot more money this way! If you can’t pay their cash advance loan back on time, they can let you roll the loan overâ€"extending the due date in return for paying additional fees and interest. The more you roll the loan over, the more money the lender makes, all without the customer getting any closer to paying off the original loan.While most of these lenders don’t report their loans to the credit bureausâ€"meaning that the loans themselves won’t affect the borrower’s credit scoreâ€"the cycle of debt that these loans can create will certainly affect a person’s creditworthiness. More money going towards interest on a payday loan means less money for other bills and necessary living expenses. Defaulting on your gas bill because you rolled over your payday loan will ding your score for sure!Plus, defaulting on a sketchy bad credit loan could mean getting sent to collections. And that collections agency will definitely report you to the credit bureaus. It’s pretty much a lose-lose!While credit card cash advances are far from a perfect financial solutionâ€"and will not help raise your credit scoreâ€"they are far preferable to “cash advance loans” that are really just payday loans in disguise.To learn about some ways that you can actually improve your credit score, check out these related posts and articles from OppLoans:How to Fix Your Bad Credit in 2018An Apple a Day Keeps the Bad Credit Away*Why You Should NOT Close That Old Credit CardHave you ever had a cash advance drop your score?  We want to hear from you!  You can  email us  or you can find us on  Facebook  and  Twitter.Visit OppLoans on  YouTube  |  Facebook  |  Twitter  |  LinkedIN

My Knowledge And Belief Of Digital Television - 9351 Words

Declaration To the best of my knowledge and belief, I certify that this thesis does not: 1 Incorporate any material previously submitted for a degree or diploma in any institution of higher education without acknowledgment. 2 Contain any material previously published or written by other person except where due reference is made in the text. 3 Contain any defamatory material. I also grant permission to Shenyang University to make duplicate copies of my thesis as required. Signature: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Date: †¦Ã¢â‚¬ ¦June 26, 2015†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Abstract Advanced Television (DTV) is a propelled television innovation that has changed the TV review experience. It is a superior television format that delivers better pictures and sound, uses the broadcast spectrum more efficiently, and adds versatility to the range of applications. Often referred to as DTV, digital television also represents a new technological infrastructure for broadcasting and thus a new economic and competitive paradigm. This study will attempt to evaluate job satisfaction in Digital TV companies with reference to StarTimes digital TV. It focuses on relative importance of performance appraisal and job satisfaction factors and their impacts on the overall job satisfaction of employees. It also investigates the impacts of digital type, work experience, age and sex differences on the attitudes towards job satisfaction. The result will show whether salary, efficiency in work, fringe supervision, and co-worker relation are theShow MoreRelatedMarketing Analysis : Dove Soaps Essay976 Words   |  4 Pages â€Å"Dove soaps in villages?† – was my first reaction when an unprecedented project was announced by our professor of ‘Rural Marketing’ during my under-graduation at H.R. College. Dove being a premium soap brand, the project came to us as a surprise, given the case of India where many still can’t afford two complete meals, let alone bathing with Dove – Moisturizing Cream. The project required us to visit 2 villages of Maharashtra, India, and persuade its female population switch to Dove This projectRead MoreMedias Effect on Societys Perspectives Essay1559 Words   |  7 Pagesdilemma often leads to the deprivation of ones potential proficiency about a topic despite a belief that they acquired all necessary knowledge. A problem occurs when ones lack of information leads one to become less tolerant of others. Conversely, interactionalists view television optimistically when used as a social networking device, particularly when a group of friends or family converges around the television to spend time together. One example of this kind of interaction brought about by televisedRead MoreIdeological Diversity On Weekly News Magazines1402 Words   |  6 PagesTheodore Assatly Course #5487 2155OL: Understanding Mass Media July 31, 2015 IDEOLOGICAL DIVERSITY IN WEEKLY NEWS MAGAZINES Ideology is defined by Dictionary.com as â€Å" a body of ideas that reflects the beliefs and interests of a nation, political system, etc. and underlies political action.† (â€Å"Ideology†) Weekly magazines, in fact all media, are infused with ideology. Its existence is inevitable. While news magazines strive to provide ideological diversity, the bottom line is that most mediaRead MoreEssay about Medias Effect on Societys Perspectives1460 Words   |  6 Pagesdilemma often leads to the deprivation of ones potential proficiency about a topic despite a belief that they acquired all necessary knowledge. A problem occurs when ones lack of information leads one to become less tolerant of others. Conversely, interactionalists view television optimistically when used as a social networking device, particularly when a group of friends or family converges around the television to spend time together. One example of this kind of interaction brought about by televisedRead MoreFahrenheit 451 Comparison Essay1185 Words   |  5 Pagestheir moral and religious beliefs. There are many relations between the society portrayed in Fahrenheit 451 and the modern American society, first of which is the way people achieve happiness. Firstly, Bradbury accurately depicts the future with media bombarding people’s lives. In Fahrenheit 451, instead of small black and white televisions, characters live in rooms called â€Å"TV parlours.† In these TV parlours, the entire walls are plated with massive flat screen televisions, sending out fast imagesRead MoreTechnology Advantages And Disadvantages Essay1548 Words   |  7 Pagesand the faster we can extract their gist, the more productive we become as thinkers† (Carr 562-563). Carr further supports my statement because as we learn new information we begin to think and become aware of what is happening around the world which is something that never really occurred before to such an immense population. Often people say that knowledge is power and in my opinion it is. The more information you know the easier it is to get through life; technology has made this power easier toRead Moreexample of informative speech outline Essay examples899 Words   |à ‚  4 Pagesï » ¿ EXAMPLE OF INFORMATIVE SPEECH OUTLINE Informative Outline Topic: Impact of Media in the Society and Individual General Purpose: To Inform Specific Purpose: To inform my audience the negative impact of social media in the society and to the individual. Thesis: Social media websites are some of the most popular haunts on the Internet. They have revolutionized the way people communicate and socialize on the Web. I. Introduction A. Attention Getter: Today, just aboutRead MoreFor the most part, I have to agree with the critical theorists: learning barriers do exist. In1400 Words   |  6 PagesMacy’s 4th of July television show, President Obama made an appearance and spoke about the American Dream. In addition, he presented a number of immigrants who had just received their American citizenship to testify that the dream is still alive and well in today’s society. The continued belief in this â€Å"truth† distracts people from the reality of their situation as they continue to struggle in their pursuit of the dream. Although the younger generation has grown up in a digital environment, manyRead MoreMedia s Impact On Media Consumption Essay1729 Words   |  7 Pagestechnology is at the forefront, allowing users to access an infinite amount of resources on the internet, 24 hours a day 7 days a week (XXXX). The rapid technological advancements has shifted the consumption of media from television, magazines and billboards to online digital media channels accessed via mobile devices, creating a ‘bedroom culture’ (Sumner, 2016) for many. The shift in media consumption has particularly been induced by the emergence of Social Networking Sites as well as other onlineRead MoreMedias Effect on Societys Perspectives Essay1910 Words   |  8 Pagesdilemma often leads to the deprivation of ones potential proficiency about a topic despite a belief that they acquired all necessary knowledge. A problem occurs when ones lack of information leads one to become less tolerant of others. Conversely, interactionalists view television optimistically when used as a social networking device, particularly when a group of friends or family converges around the television to spend time together. One example of this kind of interaction brought about by televised

Essay Immorality in Chaucers Canterbury Tales - 1646 Words

Immorality and moral ambiguity are two concepts that will ruin any relationship. In Geoffrey Chaucer’s The Canterbury Tales, he specifically illustrates through his pilgrims’ stories some comical and realistic events that display immorality in the Middle Ages. There are several characters whose stories are focused on presenting the immorality within their tales. Like that of â€Å"The Miller’s Tale,† and â€Å"The Merchant’s Tale.† Chaucer utilizes these tales to display one specific immoral act, which is sexual sin or lust. Chaucer addresses the seven deadly sins in his novel; The Canterbury Tales, lust can be highlighted in two major tales â€Å"The Miller’s Tale,† and â€Å"The Merchant’s Tale† which help display key elements of the immorality in the†¦show more content†¦In â€Å"The Miller’s Tale,â€Å" and â€Å"The Merchant’s Tale† the two young wives are deprived sexually bec ause their partners are so old and this causes them to be tempted outside of marriage. They believe this could never happen though because both husbands, John and January, are so jealous and protective of their wives that they do not allow leaving their sides. In Chaucer’s â€Å"The Miller’s Tale† the jealousy of John shows, â€Å"The carpenter had just married a girl whom he loved better than life. She was eighteen years old. He was jealous and kept close watch upon her, for she was wild and young. While he was old and thought himself likely to be cuckolded,† (66-67). This shows an example of extreme jealous, some of which is expected, because during the Middle Ages there were young men who would come and seduce single and married women. It is described mostly as â€Å"courtly love,† and it is when a man is chasing a woman for different reasons. The woman could be single or even married and if she said no it would cause him great emotional and phy sical pain (Rogers: 1, 107). The young men might catch themselves fantasizing over these unobtainable women. Lust is the second element of medieval immorality that Chaucer addresses in â€Å"The Miller’s Tale,† and â€Å"The Merchant’s Tale.† Lust is a common problemShow MoreRelatedEssay on Chaucers The Canterbury Tales927 Words   |  4 PagesChaucers The Canterbury Tales In The Canterbury Tales, Geoffrey Chaucer comments on moral corruption within the Roman Catholic Church. He criticizes many high-ranking members of the Church and describes a lack of morality in medieval society; yet in the â€Å"Retraction,† Chaucer recants much of his work and pledges to be true to Christianity. Seemingly opposite views exist within the â€Å"Retraction† and The Canterbury Tales. However, this contradiction does not weaken Chaucer’s social commentary.Read MoreChaucers Impression of Women of Medieval Times1079 Words   |  5 PagesCHAUCERS IMPRESSION OF WOMEN OF MEDIEVAL TIMES Geoffrey Chaucer wrote The Canterbury Tales in the late 1400s. 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By his description aboutRead MoreEssay on Geoffrey Chaucers Canterbury Tales1261 Words   |  6 PagesGeoffrey Chaucers Canterbury Tales The Knight, Squire, Prioress, The Monk and the Friar are defined by their settings in Geoffrey Chaucer’s Prologue to The Canterbury Tales. 1. Portnoy says in his article in the Chaucer Review that The General Prologue is like a mirror reflecting the individuals appearance which then defines the character of that person.(281) 2. Scanlon backs up Portnoy in his article from Speculum by saying †¦Characters descriptions somehow emerge inevitably fromRead MoreChaucers Use of Satire to Reach Specific Audiences857 Words   |  4 Pageson the trip to those destinations. â€Å"The Canterbury Tales†, Chaucer’s unfinished work, was a group of stories about a group on pilgrimage, but the stories did not take place at the destination. These were stories told on the way to Canterbury. They were also very satiric stories. They showed great hypocrisy, and immorality. The stories seemed to have a purpose, and to be pointed towards specific audiences. These audiences wo uld most likely have taken Chaucer’s work as a joke at first, but then quicklyRead More Comparing The Millers Tale and The Reves Tale Essays1188 Words   |  5 PagesMillers Tale and The Reves Tale       The Millers Tale and The Reves Tale from The Canterbury Tales are very closely related. They both deal with the relationship between a jealous man, his wife, and a young scholar(s), and they both are immoral stories that contain sex and violence. This proves that the Miller and the Reeve are two very corrupt individuals. However, these tales also share some differences. For instance, the main character in The Reeves Tale is Read MoreCanterbury Tales By Geoffrey Chaucer1380 Words   |  6 PagesCanterbury Tales Canterbury Tales written by Geoffrey Chaucer was a story of not the people themselves but a social statement of how the people of higher standing were viewed by the middle class. In the time that Canterbury Tales was written it was a time of corruption of the Church. There were many clergy members that were mentioned in this story. Each of the characters was unique in the way they went against the standards they should be held to. The most interesting this story was definitely TheRead More Chaucers Irony - The Canterbury Tales Essays1275 Words   |  6 PagesChaucers Irony - The Canterbury Tales Chaucers Irony Irony is a vitally important part of The Canterbury Tales, and Chaucers ingenious use of this literary device does a lot to provide this book with the classic status it enjoys even today. Chaucer has mastered the techniques required to skilfully put his points across and subtle irony and satire is particularly effective in making a point. 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It is considered to be the best work of literature in English in the Middle Ages (Johnston, 1998). Chaucer uses literary devices as no one had ever done. In addition, he chose to use English instead of Latin. This masterpiece is structured in a similar way as Bocaccios Decameron. The tales are organized within a frame narrative (Encyclopaedia

International Marketing Essay - 926 Words

IDISCUSSION QUESTIONS Chapter 1: 1. To what extent is a global approach to international marketing appropriate to firms in the Asia-Pacific? Global approaches are not always relevant to firms in the Asia-Pacific apart from alerting them to the nature of the international competitive environment in which they are likely to operate. A global approach is not an operating strategy for Indigenous small and medium scale exporters (SMEs) and is only partially appropriate for local subsidiaries of transnational firms. 2. Do the driving forces always outweigh the restraining forces in ensuring the attractiveness of international marketing to the Asia-Pacific firm? 3. Why is it necessary to adopt a holistic approach in†¦show more content†¦6. Describe the way in which cultural differences can act to impede communication between business people of different nationality. 7. What are the shortcomings of Hoftsede’s criteria for assessing differences on a global basis? Do you consider that his fifth factor adequately caters for the underlying differences between Asian and Western cultural values? Chapter 12: 1. Prepare a Matrix showing the following countries along the horizontal axis: Canada, Vietnam, Thailand and Japan. On the vertical axis list each of the six factors to be taken into account when redefining the business and considering international markets. In the cells indicate how these factors would differ for each of the four countries. 2. How would leveraging capabilities with respect to the Indonesian market differ between an Australian/New Zealand producer of computer software and an Australian/New Zealand manufacturer of automotive parts? 3. Modifying a product to facilitate its sale internationally will involve extra costs. To what extent are these costs discretionary and how would you assess whether the costs are worthwhile. 4. For what kinds of products do you expect customer needs to be worldwide? Why? 5. In what ways does the product’s packaging need changing when the product is being marketed in another country? 6. You have been asked to develop a pr oduct for sale throughout the ASEAN region. What are the criteria you would apply in theShow MoreRelatedInternational Marketing4703 Words   |  19 PagesMateschitz, marketing guru, and Chaleo Yoovidhya, the owner of the Red Bull formula. Categorized as an energy drink, Red Bull was initially designed to â€Å"treat jet lag and boost energy for truck drivers† (Hollensen, 2012). In todays era, Red Bull is commonly used as an energy drink; like coffee, and as a mixer in alcoholic drinks, like Red Bull Wings and the Jà ¤gerbomb. This aligns with the companys focus on the younger generations of partygoers and post-secondary students.    Red Bull’s marketing strategyRead MoreInternational Marketing1975 Words   |  8 Pagesthe model of the international marketing task displayed in the text, which of the following reasons demonstrates the most important difference between the international marketer s task and that of the domestic marketer? (Points: 1) The international marketer must deal with at least two levels of uncontrollable uncertainty instead of one. The international marketer must rely on at least two levels of controllable certainty instead of one. The international marketer is neverRead MoreInternational Marketing3435 Words   |  14 PagesA firm s international marketing program must generally be modified and adapted to foreign markets. This international marketing program uses strategies to accomplish its marketing goals. 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In fact it is what you say and the way you say it whilst trying to explain how a certain product or service is, giving your target audience reason why to use or purchase it. Marketing can be a bunch of things, whether promotion, an ad, a brochure or a press release. It can simplyRead MoreInternational Marketing1398 Words   |  6 PagesCase Study Mid Term: International Marketing Research at the Mayo Clinic Minashki Sinanan Summary The Mayo Clinic is a well-known health care provider that treats international and domestic, upper class society. An example of their consumer base is the President of the Republic of Equatorial Guinea, Teodoro Obiang Nguema Mbasogo, who was seen at the Rochester clinic in New York. 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This is achieved by one country exporting other countries’ products into its own business environment; it can also enter on franchising terms or through licensing in the country of interest, or direct investment in the foreign country. Market mix development involves product promotion, product pricing

Marketing Audit Tesco free essay sample

Marketing Audit Tesco Plc Marketing Audit [Name of the Writer] [Name of the Institution] Executive Summary This report contains the company overview and details of marketing audit carried on Tesco Plc, which is largest retailer in UK. The marketing audit has covered various important areas that are significant to analyze, indentify and understand the issues and challenges of internal and external environment of the business. Tools used to conduct marketing audit of the Tesco Plc are, marketing mix 4P’s, SWOT analysis, PESTLE analysis and porter five forces. Introduction Changing marketing scenarios are a challenge for retailers, despite the fact it has captured large share in the market. Tesco PLC has been chosen to perform the marketing audit, as it is largest retailer in UK and having 30% of share in the market (www. guardian. co. uk). Tesco plc is a global marketing and general grocery retailers. It is operating in 14 major countries and employing 500,000 employees worldwide. We will write a custom essay sample on Marketing Audit Tesco or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It is the leading UK-based retailer in terms of global sales and domestic market share. Jack Cohen established this company in 1919 (Tesco Plc, 2012). Tesco Plc is running under six formats in UK, such as Tesco Express, Tesco Extra, Tesco Supermarkets, Tesco Metro, Tesco Home Plus and Tesco One Stop. Altogether Tesco acquires 3000 stores in UK and employing around 300,000 employees and over 60% group sales and profit comes from UK business (Tesco Plc, 2012). Tesco is ranked on third position after the Wal-Mart and Carrefour but on the basis of profit comparison it is considered as the second largest, after Carrefour (www. upermarketnews. com). Tesco is operating extremely well in all its business sectors worldwide, but to grow further as number one global leader, it still needs wide marketing plans and strategies, this reports carries out marketing audit of the company which shows threats and opportunities of internal and external environment. Marketing Mix Neil H Borden in 1964 published the article on marketing mix primarily and thereafter the term became famous and i ntegral part of marketing plan of every organization Chandrasekar, 2010). The firm can create its marketing mix once its target market is defined and that provides competitive advantage to the company. Marketing mix is the blend of product offering, pricing, promotional methods and place or distribution channel that brings specific group of consumers with superior value (Gitman and McDaniel, 2009). In the context of Tesco, entry to China market made them to adapt their culture and norms in order to reach consumers in big china market. But company needed to stick fast with its principles and basic standards set. There would be changes in terms of services with regards to 4p’s but the company cannot deviate to its set standards which are inherent to the company. Product Product is the heart of Marketing mix, of course it is hard to design and decide place, promotion or price and the nature of product plays vital role, when marketing any product or services (Lamb et al, 2012). In case of China, Tesco needs to figure out who the end consumers of the products are, what they are looking for, their existing products are fulfilling customer needs, what they are offering and which product needs to import or make in house to complete the demand of Chinese customers. In order to compete with local retailers and gain more market share, Tesco also needs to provide Chinese based products with and that can be done by developing the Tesco owns brand products which can be marketed strategically within the region of China. PricePrice refers to the amount the customer has to pay in order to buy the goods and services (Chandrasekhar, 2010). Tescos marketing department is responsible for the price charged for the products and that would be based on rivals offering prices and original cost prices of products. They are responsible for the prices of new products introduced and if required revising of prices of old products. In china prices of products differs from UK because of several factors (i. e. cheap labor cost), so rices can’t be same in all countries They also decide whether the price should be reduced to attract more customers and how to alter the cost of the products, which has short life and would be expire soon. The Marketing department also responsible for making the deals and discount offers packages for customers in order to avail maximum profits (Chandrasekar, 2010). Promotion Promotion refers all the activities performed to introduce the product and services among the customers for se lling purpose (Lamb et al, 2012). Many areas are considered before TESCO actually promoting the product, including how to inform customers about their products and services. They also need to know what type of advertising they use and where they can be used to direct the attention of customers and what other ways to apply can promote their products. A good way to do it and get free advertising is to distribute free samples and run the competition of product by selling in cheap prices initially. Promotion of the products can be done easily now days on the internet and through online shopping. Place Place simply refers to point of sale (Chandrasekar, 2010). Another important mix is place, whether the products will sell to the retailers or directly to the end user, through store or online. As TESCO itself is a big retailer and expanded its business worldwide and have thousands of stores. It also needs to open the stores and provide online facility of shopping in low developed areas in order to gain more market share, targeting low income group will enable the company to gain the trust of local and ultimately it will also gain more favor and relaxation from Government of that region (Chandrasekar, 2010). The effective marketing mix leads more customer satisfaction, and what Tesco needs to do, is to understand the needs of customers in target country or region. SWOT analysis SWOT analysis is a fundamental tool in marketing plan that helps to assess Strengths, Weaknesses, Opportunities and Threats of any organization (Pahl Richter, 2009). | | |Strengths |Weakness | |Strong brand image |Failure to lead the city center Market | |Market Leader |Lack of Marketing Approaches | |Diversified Business Globally | | |Competent Distribution Channel | | | | | |Opportunities |Threats | |Increasing Demand for private labeled products |Low price supermarket discounting stores. | |Diversifying Market Appeal |Economic conditions | | |New Entrants | Strengths 1. Strong Brand Image Tesco has strong brand image as it is older retailer of UK and established its brand image with the span of time. 2. Market Leader It is ranked as third largest retailer in the world and it puts positive impact on customers. 3. Diversified Business Its worldwide spread business in different countries enhances its strength 4. Competent Distribution Channel Tesco has competitive and well established distribution channels and it is the positive factor for the company Weaknesses 1. Failure to lead the city center Market This is one of the major drawback and weakness that Tesco is failure in leading city center markets. 2. Lack of Marketing Approaches Tesco runs on its established brand image, it has lack of marketing channels and hence approaches, which is also weakness and give chance to other small player to bite its portion of market. Opportunities 1. Increasing Demand for private label products Customer demands various local products, but which would be labeled as Tesco, in order to get the reliability. Local brands are also cheap then international brands and Tesco has opportunity to meet the demands of customer, already it is making its own products in various categories, it should enhance further. 2. Diversifying Market Appeal Tesco has covered still 14 countries and it has the opportunities to grow further in many countries. Threats 1. Low price supermarket discounting stores. Growing of small medium low prices stores are becoming the risk for the company, like Lidl, 99P stores etc to capture some part of market share. 2. Economic Conditions Global Financial crisis also put a bad impact on company’s growth and productivity, so if any economic crisis is expected company needs to be aware and take some precautions and lean down the processes, like cost cutting etc 3. New Entrants New entrants are also the threats, although it is big in size, many new entrants are following new strategies to attract customers , like online purchasing of grocery and fast delivery on end consumer doorstep. Macro Environment The macro environment comprises of a variety of factors, which has a direct or indirect influence on the organization. There are various tools available such as PESTLE, PORTER FIVE FORCES to analyze the factors of external environment, which might have impact on business in terms of threats or opportunities (Stonehouse et al, 2004). PESTLE Analysis According to Bangs (2002) â€Å"Pestle analysis will help to capture understanding about aspects of the context by using the prompts political, economic, sociological, technological, legal and environmental†. A Pestle analysis is vital in the development and the success of Tesco’s in addition to day to day management of each store in line with strategic decisions. It would be hard to take effective and proper decision for the well being of organization if the external factors effecting business are unknown. Factors effecting Tesco are, Political Factor Political factors can be national or international, Many Governments take parts and get involve. For example, Tesco got interruption in coffee supply due to political issues between Britain and Colombia. Political factor is sometimes in favor like UK government has three ruling parties and currently governed by liberal Democratic Party, and all are well structured for the development of the country and that represent good sign and strength for UK (Peter Donnelly, 2002). Economic Factor Economic factor has a huge impact on business, tax increases; fluctuation in stock exchanges can seriously hit the performance and revenue of companies like Tesco Plc. Sociological Factor This factor varies from the change in fashion to the impact on immigration. UK is the country where whole country follows one type of culture and speaks English, and this also gives positive exposure on company’s environment. Technological Factor UK is well developed country and having all sort of IT technologies, which bring advancement in the society (Hall, 2008). New technologies have a great impact on the success of organization, for retailer like Tesco Plc got enormous success from its online shopping platform. According to Wilson Gilligan (2005) to be up to date with this factor would always be productive for company’s business. Legal Factor The changes caused by all external impacts lead to many legal problems Environmental Factor Large Corporation has also environmental concerns and contribute for the well being, like Tesco uses fossil fuel in its transport network and reducing in demand is a major challenge for company. Tesco Plc should consider its external factors in detail and evaluate how their impacts continually change. Porter Five Forces Model Michael E Porter well-known framework, known as the five forces model, helps manager to identify the intensity of rivalry among established companies within an industry, the risk of entry by potential competitors, the bargaining power of buyers, the closeness of substitutes to an industry’s products and bargaining power of suppliers (Hill and Jones, 2008). This model is applied to assess the competitive advantage of the industry. Tesco is operating its retail chain globally and the retail industry competiveness for Tesco Plc is as follows Threats of new entrants Entry of new entrants is low due to high level of barrier, like new companies who wants to enter in retail sector of UK needs large amount of funds to compete with Tesco or other big retailer. Small retailers who opened individual shops of grocery, butcher has least impact on Tesco Plc performance. Rivalry among the existing Players There is huge competition in existing players in retail industry of UK, as Tesco has market share of 30% but still 70% is captured by different companies like Sainsbury’s, Asda , Lidl, Wal-mart etc and all are giving tough challenges to the operations of the company Threat of Substitute Products Threat of substitute is higher, because majority of retailers are offering same kind of products by different brand names and prices. Tesco products have many substitutes offered by other big and small retailers. Bargaining Power of Suppliers There are many retailers in markets and all they need reliable and established suppliers for their operations, hence due to tough competition in retail industry, supplier also take benefit from this, this is also one of the key concern for Tesco Plc Bargaining Power of Buyers Bargaining power of buyers normally doesn’t apply in this industry due to fix shelf prices that is positive aspect for the company Conclusion In recent years UK supermarkets have come under increased scrutiny over their treatment of suppliers, particularly of own-label products, yet the development of strategic supply networks has been an integral part of most supermarket strategies for the past decade. Marketing audit of Tesco Plc has shown marketing mix, internal and external environment factors and what are its effect on company performance. Effective blend of marketing mix variables would satisfy the customer needs and attracts more customers; hence company will ultimately enhance its market share. Internal and External environment of company is evaluated through various tools, which helps organization in proper and right decision making process. References Bangs. D. H (2002), The Marketing Planning Guide, 6th Ed, A Kaplan Professional Company – USA Chandrasekar (2010), Marketing Management – Text and Cases, Mc Graw Hill, India Gitman. L. J, and McDaniel. C (2009),The Future of Business – The Essentials,4th Ed, South- Western Cengage Learning- USA Hall. J (2008), Tesco Curbs its supplier prices, http://www. telegraph. co. uk/finance/newsbysector/retailandconsumer/2783800/Tes