Questions and Topics We Can Help You To Answer:
Paper Instructions:

NCO needs to change in order to be competitive with external computer service providers. Assume you are hired as a consultant to help NCO implement the change. They ask you: “What should we do to get this change off to a good start AND lay the foundation for a successful implementation?” More specifically, identify three to five actions (implementation steps) that they should take and briefly explain why each one is an important action to take.

How concerned are you about the drop in the rate of entrepreneurship? What do you think are the primary causes of the decline? What action should be taken to increase the rate of new business start-ups? How effective will these actions be? What factors influence your desire to work in an entrepreneurial firm versus an established firm?

The decline in entrepreneurship is alarming as fewer firms are being created which translates to the number of jobs that are created by startups being on the decline. Economic recessions over the past decades have been more frequent and increasingly severe. Firms that are already established have the mechanism to survive but startups are more vulnerable to these financial changes and often are not able to weather the storm. Another reason for the decline in entrepreneurship is the prevalence of monopolies and duopolies which disrupt the dynamics of demand and supply and tend to discourage entrepreneurs (Litan, 2016). Other causes include reduced rates of immigration and economic shocks caused by natural disruptions like the pandemic. The US should review its immigration policy to allow an influx of new ideas and better taxing and licensing policies that are more favorable to new enterprises should be effected (Goldschlag & Tabarrok, 2018). These responses will have different effects on slowing the decline of entrepreneurship and perhaps reversing it once a combination of these and other measures are implemented. Personally, working in an entrepreneurial firm is more satisfactory than being affiliated with an established firm because of the opportunity to be part of the solution to the challenges of these changing times and the increased opportunities for reaching my fullest potential as opposed to working for a big firm that is more likely to be inflexible.

What are the benefits and costs of making this move? What are the long-run risks of this change? Do the benefits outweigh the costs? Is Alphabet trying to build an ambidextrous organization? Should it be doing so? If yes, what actions can it take to build an ambidextrous firm? Do these issues raise concerns about Alphabet’s business portfolio? Should the firm stay the course with the business it owns, or should it change? If it should change, how should it change?

The move is strategically calculated to minimize the risk from losses and the ensuing question of liability. It also helps the different parts of the entire business to be more accountable and self-sustaining. This is useful in protecting Google from the increasing risk that is prevalent in the technology startups that it involves itself with which are costly and pose huge financial risks in case of failure (Alcacer, Sadun, Hull & Herman, 2018). Long-run risks include challenges in effecting sound management in case conflicts arise, the increased complexity which compound the difficulties faced in tracking assets, properties, and liabilities of the organization. In the case of Google, the establishment of a new organizational structure in the form of the holding company Alphabet is potentially more beneficial because technological changes tend to be sudden and disruptive with time and require sound risk management plans that can steer organizations through the problems towards growth and success.

Do you see Tesla’s business model and product as offering a sustaining or disruptive innovation? Why do you see it this way? In what ways will incumbent firms be able to respond effectively to Tesla? In what ways will it be difficult? Whether or not you see Tesla as offering a disruptive innovation, what would be a different way that an entrepreneurial firm could offer a disruptive innovation in this market?

Tesla's business model and product offer a sustaining and disruptive innovation. It is a sustaining innovation in the sense that the technology used has the potential to be environmentally sustainable and in the future be economically sustainable as the focus of the world turn to more investments in renewable forms of energy (Chen & Perez, 2018). It is disruptive in the sense that it revolutionizes the traditional way of doing business by dealing directly with the customer and thus be in a better position to achieve customer satisfaction. Auto manufacturers can respond to this move by Tesla by investing their considerable capital in reorganizing their way of operating to follow the lead of Tesla to avoid becoming irrelevant in the coming years. The difficulties these companies have to overcome include coming up with technical concepts without infringing on the intellectual properties of the Tesla Corporation. Also, these businesses stand to lose financially because of the cost of restructuring their production facilities to better suit them to the manufacture of electric automobiles which are the future of the industry. Well-established motor giants can fund research in alternatives to fossil fuels for example ways of converting solar power into synthetic fuels that would require little modification to power the current motor vehicles. This would prove equally disruptive as the cost of manufacturing batteries is still very high, which is the most significant and limiting challenge faced by Tesla (Liu & Meng, 2017). By circumventing this challenge these auto manufacturers stand to reap lots of benefits and retain their power and influence in the industry.

How would you strike a balance to ensure that shareholders have a voice while limiting the cost of unnecessary proposals? Are the current rules appropriate? If not, how would you change them?

To protect the financial assets of a company from potentially wasteful proposals policies should be implemented that require shareholders forwarding proposals to meet some requirements such as being willing to stake on their proposals (Cuñat, Gine & Guadalupe, 2013). The proposals should also be subjected to screening through a framework where they can be voted for to prevent potentially disastrous proposals from gaining funding and hence resulting in losses for the company. Thus a balance can be achieved in which shareholders have a voice but don’t abuse it and create unnecessary spending.

References

Alcacer, J., Sadun, R., Hull, O., & Herman, K. (2018, February 26). Alphabet Eyes New Frontiers. Retrieved August 2, 2021, from https://hbsp.harvard.edu/product/717418-PDF-ENG

Chen, Y., & Perez, Y. (2018). Business Model Design: Lessons Learned from Tesla Motors. Towards a Sustainable Economy Sustainability and Innovation, 53-69. doi:10.1007/978-3-319-79060-2_4

Cuñat, V., Gine, M., & Guadalupe, M. (2013). Say Pays! Shareholder Voice and Firm Performance. doi:10.17848/wp13-192

Goldschlag, N., & Tabarrok, A. (2018). Is regulation to blame for the decline in American entrepreneurship? Economic Policy, 33(93), 5-44. doi:10.1093/epolic/eix019

Litan, R. E. (2016). Entrepreneurship, Innovation, and Antitrust. The Antitrust Bulletin, 61(4), 580-594. doi:10.1177/0003603x16673946

Liu, J., & Meng, Z. (2017). Innovation Model Analysis of New Energy Vehicles: Taking Toyota, Tesla and BYD as an Example. Procedia Engineering, 174, 965-972. doi:10.1016/j.proeng.2017.01.248

Marketing Plan for Clayware Limited

Business Description

Clayware Limited is a company located in Punjab, India a place that is rich in clay soil and with a high population of people that are not well of. The company deals with the production of clay products such as bricks, pots, flower vases, and tiles among others. Nevertheless, one of its main products is making building bricks. The company was started by a family living in Punjab and the inspiration behind it was to offer jobs to the villagers living in the area who at that time were in poverty and distress. Today, the company has created over one thousand jobs and employment for most of the villagers and other Indians from other parts of the country. Due to the abundance availability of their raw material and human workforce, the business has grown the become one of the largest and most successful businesses that are not only known in India but also international. Most customers of the company are individuals and commercial clients who buy wholesale, which makes it easy for the business to make more profits while selling at an affordable price. Transporting their products to their customers has also been efficient since the area is central and is connected to major markets in the region. One of the factors that have contributed to the growth of Clayware limited is its well-laid down marketing plan. Indeed, it is true that for the success of a business, a good marketing plan should be put in place.

Brand Analysis.

Customers.

A customer is someone that purchases goods or services from a business or enterprise. There are various types of customers that a company or business should identify in order to provide good services. Examples of these include; price buyers, who are people that buy products or services only at the high season, relationship buyers, value buyers, and poker player buyers. All these clients have different reasons for purchasing a product. Therefore, it is important for companies to understand them and their need if they want to maximize their profits.

Individual Customers.

These are customers from within Punjab area and its environs. Initially, this area consisted of poor people but the presence of various industries in the area has improved the economical status of the people living there. Therefore, most of the locals have now become customers in these industries and mostly at Clayware Limited, due to their affordable prices.

Institutional Clients.

These are organizations and companies interested in purchasing products for their development. Institutional clients purchase their products at a wholesale price since they buy in bulk. Such clients bring in a lot of money since they buy many products to cater to their megaprojects. Losing such clients can have a great impact on an organization. Clayware Limited has several of these clients and that is why they have been able to grow fast over the years and even able to beat their competitors.

Market Size and Share

Many companies share the market size. Therefore, the company needs to put more effort into their marketing sector if they have any hopes of getting the most customers from this area. There is an advantage in this because the

Competition Analysis

Competitors are businesses, or organizations that offer similar products or services. Every business needs a competitor to challenge them to grow and improve their products or customer service. Before the inception of Clayware Limited, there were other companies that had dominated the area and enjoying the monopoly. Nevertheless, these companies have not yet captured the whole region probably due to the high pricing of their products, and minimum advertisements of their products. This is an advantage for Clayware Limited depending on the market strategy they have put in place. Clayware Limited has invested in its marketing departments and commercials through radio, television, and other online platforms, which has popularized the company. The company is also selling its products at a fairer price than its competitors, which has attracted more customers to buy their products.

Brand Positioning Strategy.

Marketing Director.

Clayware Products.

Low Prices on high season

Clayware Limited is a partnership company, which means that there is a lot of accountability from the directors, shareholders, and their customers. The partnership form of ownership is beneficial because the management can easily follow through with the marketing strategies and procedures of the company. The clay industry in India is very competitive since the raw material is readily available. Advertising is a form of marketing that is very essential for every business or organization because it is through advertisements that people become aware of the existence of a company and the products they offer. With over 200 clay industries in the country, producing relatively the same thing, it was essential for Clayware Limited, to come up with marketing strategies to not only maximize the profits but also attract as many clients as possible. Clayware Limited has invested in various unique strategies to market its products. Some of these marketing strategies include setting aside money for sales promotion and advertising. The company is also using signboards, advertising on local dailies, radio and television commercials as well as participating in trade fairs organized by the government or the private sector.

 on large market share hence maximizing profits.

Signboards and Notices

Signboards are mostly made of wood and are located in various places where people can congregate, for instance in bus stations, in temples, road junctions, and sometimes outside food joints. Clayware Limited has taken advantage of these boards to advertise its products. This can be done by the use of fliers that have details of the company, such as the name, its location, its address, and the products they sell. Notices are circulated in form of posters that show in images the products sold by Clayware Limited. This has also greatly helped in the marketing of this company.

Radio and Television advertisements

Sometimes Clayware Limited advertises its products through radio and television commercials. This allows a wide range of viewers using these platforms to see their products. In fact, most of the sales done by the company have been as a result of advertising on radio and television platforms.

Printing of calendars and T-shirts

Clayware Limited has invested heavily in marketing and another strategy they have used is by branding T-shirts and calendars with the name of the business, the products of the company, and its location. The company has also given offers to customers who purchase the products during the promotion period. This has increased the awareness of the company thus, bringing in more customers. By selling the branded t-shirts the company is also getting more money which is used to do more advertisements,

Tactical Marketing Decisions.

Marketing is defined as the management process of identifying, anticipating, and satisfying a client’s needs while being profitable (Boonpradub and Thechatakerng, 2015). This process focuses on the foundational activities that every business should perform. This not only includes identifying clients, but it also includes researching their needs and wants, analyzing the factors that sway their purchasing decisions (Boonpradub and Thechatakerng, 2015) These factors persuade them to purchase products from a particular company and not its competitor. In order to achieve this, some strategies that are coordinated, considered, and seem realistic are used to ensure that the resources and budget provided are effectively used (Employment, 2019). According to Jain, MacCarthy developed the concept of a marketing mix that is mostly recognized as the four ps, which include product, price, place, and promotion (2013). However, in a business that deals with service, these four ps cannot be enough. To make the marketing strategy more effective some more ps namely people, process, and physical evidence are required (Jain, 2013).

Product.

According to Jain, a product is a brand, quality, or style that are the most critical determinants in a positioning strategy of a company (2013). The development of a product is very crucial because it will determine the success of a business. Before developing a product, a survey must be conducted to be able to find the needs or wants of customers and ensure that people will be interested in the product (Bhardwaj, 2018). In the case of Clayware Limited. Before the inception of the company, a team was sent to look at the missing products in the market, which enabled them not to focus on what is already in the market but what is needed in the market. The process of product making does not just end because everyday people are in need of something unique and this is something that the Clayware Limited marketing team has done on a monthly basis.

Product.

The value of a product is determined by the worth the clients are willing to pay for it. In their article, Boonpradub and Thechatakerng indicate that the price of a product needs to be competitive but not very cheap to ensure that the business or company is making a profit (2015). Price is the only feature in the marketing mix that generates revenue for the company, therefore it should be properly thought out. Businesses should look at the customer’s point of view when making a decision regarding the price of their product. This is one of the factors that has made Clayware Limited popular. Most people know what to buy from them since they have good products and relatively cheap prices.

Place.

For a product to sell, it must be available at the right place, right time, and have the right quantity. The location of the company or distribution center must be accessible, convenient, and appropriate for customers (Employment, 2019). This is crucial for brick companies among others mostly because their products are bulk and require transportation. Clayware Limited is situated in a central place that can easily connect to the main markets of the region. Therefore, its clients do not struggle with following the directions given on fliers or commercials. Sometimes, this company delivers their products to their customers as a form of customer service, which has attracted more clients to purchase from them and not their competitors.

Promotion.

This is another crucial p in a marketing mix, that refers to the method in which a company can make their goods and services known to people. This strategy involves the use of forms of advertisement such as online platforms, radio and television commercials, branding, corporate identity, sales management, and special offers (Boonpradub and Thechatakerng, 2015). Promotion messages are appealing, simple, and consistent convincing customers that indeed the product being advertised is the best in the market. Promotional messages should convey the benefits of the product and offer a good impression of the company advertising. Clayware Limited has achieved this in various advertising forums. For instance, a recent product they were launching was made very appealing to the eyes of the viewers on tv such that by the end of three months the product was sold out.

People.

These are the individuals that have a big impression on the customers of a company. Sometimes these people can have a negative effect on customers which leads them to not buying your products ((Boonpradub and Thechatakerng, 2015). One example of these people is the staff of a company. If the staff is not trained well on customer care service, they will not sell the product well and for that reason, some clients might not be convinced to buy the product. All employees who are in contact with the customer must have adequate knowledge and understanding of the product that they can be able to explain and answer any question from the client. Clayware Limited has ensured that every employee working in the factory and distribution centers is trained about the products sold in the company.

Process.

Nowadays, most clients do not just purchase products but instead, they want to know the kind of company selling the product and sometimes how it was made. Most people easily buy products from companies that have a good reputation and reviews. For this to be achieved, a company should invest more in their products and customer service to always have good reviews. This will attract more clients.

Physical Evidence.

Every customer wants to purchase a product that they are familiar with from a company they have heard of or referred to by a friend. But companies can reduce this uncertainty by enabling potential clients to see what they are buying. This can be improved by having a clean, tidy and well-decorated reception area. This leaves a good impression on the customer and provokes them to think positively of the company and the product being made.

Service Process.

Service Blue Print

Customer Journey

This is line of interaction between the customer and the company ……………………………….

Front stage

Employees Actions

Marketing Platforms

This is the line of visibility…………………………………………………………………………

Back Stage Actions

This is the line of Internal Interaction………………………………………………………………

Support Processes.

Some of the areas in which Clayware Limited is failing is delivering of their products and training their workers. The clay industries are most located in inaccessible areas which make it difficult for potential clients to visit their offices (Kasemi, 2014). Clayware Limited is still evolving to the modern ways of doing things, which has slowed down their services and hence affecting them. According to Kumbhar, a majority of workers in the clay industry are still bound to the traditional way of living and therefore they are not enjoying the benefits that are in the modernized processing of clay (2014). Clayware is still in the process of modernizing its manufacturing process and this is one of the ways the company is losing money. If they cannot satisfy their client base then the company loses a lot of money to its competition. Secondly, even if Clayware Limited is situated in a central point accessible by most people, the issue of the poor roads network in the area is making it difficult for most people to access their offices (Sherin. and Saurabh 2018). If clients cannot access their offices, it means that they will choose to go to its competition.

Some of the ways to handle these issues are by fast tracking the process of changing from the traditional way of process to the modernized way that includes the use of technology (Siram, 2012). The company should invest more in training their worker on how to handle the machines to avoid injuries or wastage of time as they try to figure out how to work them out. These new ways will improve the quality of the products and will allow for the faster production of the products hence preventing scarcity of products during any season (Pitchai, 2016). In addition, to improve on their customer service, the company should deliver the product to their clients, especially individual customers since some of them might not be able to pick them from the company’s headquarters (Pitchai, 2016). This issue can also be solved by opening more distribution centers in different places, which will also ease the burden of deliveries to clients every other time.

Monitoring and Assessing.

To ensure that the marketing strategies work, the company must always review its progress after every four months. This might look like a very short time to conduct an assessment of a product that might have been released in the market but that is not the case. An assessment after every four months gives time for a product to be felt in the market. After three months, a product should show some progress in the market by probably getting sold out or not be paid attention by people. During this time, the company can look at what factors led to the lack of interest in a product by people. They can easily correct the mistake and relaunch the product. If the marketing strategy is not working, the company can consider using a different strategy.

Conclusion.

The marketing department is one of the most important sectors in a company. Without marketing, the company can take decades without being noticed. Therefore, companies should take it seriously and invest more in it by always allocating a budget to take care of the various affairs that are involved in marketing. Investing in a marketing department has been the only way in which a company can grow and increase its clients. Training workers is another important factor that should be considered by many companies because, without this, some clients might get the wrong information about a product, causing them to change their minds about purchasing a product. Clayware has learnt of this secret, therefore, it is continually investing more in this department and the results are evident.

References

Bhardwaj, A. (2018). Evolution of Blue Pottery Industry in Rajasthan. International Journal of Research and Analytical review, 5.

Boonpradub, W., & Thechatakerng, P. (2015). Brand endorsement by celebrity in Thailand: 7Ps of marketing mix and the impact of brand alliance. International Journal of Trade, Economics, and Finance, 6(1), 8.

Employment, S. B. (2019, January 02). The 7Ps of marketing. Retrieved July 31, 2021, from https://www.business.qld.gov.au/running-business/marketing-sales/marketing-promotion/marketing-basics/seven-ps-marketing.

Jain, M. K. (2013). An analysis of marketing mix: 7Ps or more. Asian Journal of Multidisciplinary Studies, 1(4), 23-28.

Jahagirdar, S., Shrihari, S., & Manu, B. (2013). Reuse of textile mill sludge in burnt clay bricks. International Journal of Advanced Technology in Civil Engineering, 2(1), 96-99.

Kasemi, N. (2014). Problems of pottery industry and policies for development: case study of Koch Bihar district in West Bengal, India. International Journal of Advanced Research in Management and Social Sciences, 3(7), 238-247.

Kumbhar, S., Kulkarni, N., Rao, A. B., & Rao, B. (2014). Environmental life cycle assessment of traditional bricks in western Maharashtra, India. Energy Procedia, 54, 260-269.

Pitchai, C. (2016). Pottery industry and its development by effective marketing through information and communication technologies (ICT). International Journal of Research-GRANTHAALAYAH, 4(4SE), 6-13.

Sherin, K., & Saurabh, J. K. (2018). Review of autoclaved aerated concrete:-advantages and disadvantages. In Proc. Natl. Conf. Adv. Struct. Mater. Methodol. Civ. Eng.(ASMMCE–2018) (pp. 35-39).

Siram, K. K. B. (2012). Cellular light-weight concrete blocks as a replacement of burnt clay bricks. Int. J. Eng. Adv. Technol (IJEAT), 2(2), 149-151.

 The Impact of Social Media on the Business Performance of Small and Medium Enterprises in Minnesota

Background of the Problem

In the contemporary world, an increase in technology is on the peak, similarly an active use of social media in businesses. Social media is a platform that helps people convey and consume information by sharing it. The use of these platforms has enabled increased interaction, increasing customer awareness and accessibility of information related to business. Based on this fact, small and medium business enterprises (SMEs) have been greatly impacted (Wardati & Mahendrawathi, 2019). However, embracing or adopting this new technology has not been uniform in small businesses, which has created unfair competition. Thus, there is a need to ensure uniform adoption in social media and thus support the entrepreneurs of the small businesses and ensure a fair competition environment, thus ensuring high performance.

Problem Statement

Cheng and Shiu (2019) highlight that social media is a tool used in marketing. This tool is useful in making customers make a purchasing decisions. According to the study from the two scholars, they clarified that social media would be effective in marketing only if businesses and consumers appreciate the full presence in social media. It is also essential to ensure complete information concerning the targeted customers. Based on this study, small businesses are advised to use specific social media that target the exact market for efficiency, which will help boost small businesses to competitive businesses.

Businesses have embraced the use of social media to target their potential customers. From this context, we can highlight that the general business problem is understanding the potential of using social media on small and medium enterprises. According to research based on the effectiveness of social media, in large business has always revealed this as a great strategy that has achieved success (Hakimi, 2018). The specific business is that some small businesses have limited information concerning the effectiveness of social media in creating brand awareness and convincing customers to purchase their products.

Purpose Statement

This study aims to examine the use of social media platforms by the entrepreneurs and owners of small and medium businesses in Minnesota. Using qualitative research methods, we will collect information concerning SMEs to examine how social tools have boosted performance (Li et al., 2020). These are methods used in carrying out the research. They include research design, population, and sampling techniques. This qualitative research can be done using a descriptive research design. The purpose is to identify and explain the variables to describe the relationship between social media and small business growth (Yin, 2018). The respondents for this research can be categorized into two groups, the first group being the business owners. The second group is the customers or the consumers of the products from the small businesses. The population will include small and medium businesses in Minnesota. A sampling design is a plan that indicates the criteria for selecting these businesses. Minnesota, which is the target geographic location, is a state among the fifty states of America.  More importantly, the intended change is to create awareness among the customers

Nature of the Study

In order to succeed in this research, we will use qualitative research methods and case study research design. The choice of the qualitative research method is to allow the researcher to get a more significant interpretation of data in research, thus offering more accurate information. Additionally, the study has a target population, or the customers, which will be useful in explaining the research problem. This is contrary to quantitative research methods do not have the same issues as qualitative research methods. When study responses do not match the researcher's expectations, qualitative data can explain items or characteristics that quantitative methods cannot. Again, qualitative data will allow speculation on the areas to focus on and the study to be carried out. It also permits the researcher's intuition to provide useful information. Finally, qualitative research will be more adaptable (Rahman, 2016). Because no useful information will be gathered, it will be possible to change questions, settings, or other variables to enhance replies. Because of their flexibility, qualitative research will allow the researchers to obtain a wide range of data for this study. As a result, the research will be thorough enough to provide useful information about the topic at hand.

Furthermore, qualitative research is required for this project because a case study can be included. Because of their positivistic nature, qualitative researchers choose case studies. A case study is an in-depth assessment of a current event and its context in the actual world. Case studies can be created based on the type of research, and since this study employs qualitative research methodologies, the usage of a case study is particularly relevant (Rahman, 2016). A case study, once again, will aid in gaining a thorough grasp of the issue. A case study will help comprehend the amount of social media usage in Minnesota by presenting a real-life example in the study on the effects of social media on small companies. A case study will lead to a deeper understanding of the subject at hand because it uses a small number of incidents.

Research Question

What is the impact of social media on the business performance of small and medium businesses in Minnesota?

Interview Questions

Interviews are questions directed to the group of participants seeking to get questions to the research question(s). The main research question should be broken down is straightforward questions that would easily be answerable y the respondent. Some tangible questions based on this research include:

1. What social media channels result in customer satisfaction and improves business operation?
2. How has social media influenced business performance?

Significance of the Study

This is the importance of carrying out this study. If the study were not relevant, it would be seen as a waste of resources. Therefore, the significance of this study is to examine how digital platforms such as Facebook, Instagram, and Twitter, might be helpful in the performance of the small businesses in their competition for customers.

Conceptual Framework

These are models that highlight the connection between social media and business performance.

Figure 1: Conceptual research model

Operational Definitions

Social Media: This is an internet-based application that allows people to exchange information about particular information (Camil, 2017).

Social Media Marketing: This is a form of digitalized market aided by social media as a communication tool (Jacobson et al., 2020).

Small and Medium Enterprises (SMEs): this entails Micro, Small, and Medium Enterprises, characterized by a small number of employees, between 1-99, with small startup capital and a little annual turnover (Camil, 2017).

Limitations

Limitations associated with qualitative research include

1. Time-consuming processes in the collection of data, especially by the use of interviews.
2. This research cannot be verified for accuracy, and in most cases, they are not statistically representative (Almeida et al., 2017).

Delimitations

Advantages of qualitative research include:

1. Ability to understand the attitude of the target population, such as customers on products.
2. This research is also flexible to change in setting or variables to improve responses.
3. Explains variables that numbers alone cannot reveal (Rahman, 2016).

Review of Professional and Academic Literature

The literature review is a pertinent search of materials that have already addressed issues related to the problem under study. This is done by a review of professional and academic literature materials that addressed the impacts of social media on small business performance. Primarily, this review will focus on social media marketing, creation of awareness, purchasing power, taking a keen to follow up on the commonly used social media platforms such as Facebook, Instagram, and Twitter.

Role of Researcher

The role of the researcher in this prospect is to administer interviews to collects answers to the research questions.

Data Collection Instruments

In qualitative research, data collection tools include interview questions and questionnaires.

Ethical Research

These are the set ethical implications that govern the research process; these considerations need to be keenly followed to avoid violating the set research guidelines. They are directed towards the protection of the respondents; some of these considerations include informed consent and confidentiality of information (Haines, 2017).

References

Almeida, F., Faria, D., &Queiros, A.(2017). The Strengths and Limitations of Qualitative and Quantitative Research Methods. Innovation and Entrepreneurship. European Journal of Education Studies, (3)9), 369-383.

Cheng, C. C., & Shiu, E. C. (2019). How to enhance SMEs customer involvement using social media: The role of Social CRM. International Small Business Journal, 37(1), 22-42.

Camil, A. J. (2017). The Effectiveness of Social Media Marketing In Small Business Performance: A Case Study of Central Business District Nairobi (Doctoral dissertation, United States International University-Africa).

Haines, D. (2017). Ethical considerations in qualitative case study research recruiting participants with profound intellectual disabilities. Research Ethics, 13(3-4), 219-232.

Jacobson, J., Gruzd, A., & Hernandez-Garcia, A. (2020). Social media marketing: Who is watching the watchers?  The Journal of Retailing and Consumer Services, 53, 1-12.

Li, X., He, X., & Zhang, Y. (2020). The impact of social media on the business performance of small firms in China. Information Technology for Development, 26(2), 346-368.

Rahman, M. S. (2016).  Advantages and disadvantages of qualitative and quantitative approaches in language "Testing and assessment" research: A literature review. Journal of Education and Learning, 6(1), 102

Wardati, N.K., &Mahendrawathi, E. R. (2019). The impact of social media usage on the sales process and medium enterprises (SMEs): A systematic literature review Procedia Computer Science, 161, 976-983.

Yin, K. R.(2018). The Case Study Research and Applications: Design and Methods. ( 6^th Ed)SAGE Publications.

Hakimi, C. (2018). Measuring the Effectiveness of Social Media Marketing on Promoting Event Sales.

Business Cons

Based on the case study where models are issues with free cloths and in return, give the lender some good pictures on the outfit within two weeks seems not to bear good fruits. Over the last days, it has been experienced that the models do not take this contract's agreement seriously, to the extent that some are not returning any pictures and others are doing it reluctantly. Therefore, the lender of the clothes has decided to set up new terms and conditions; this time, if any of the models fail to bring the clothes and pictures with the pictures, they will have to pay for the price. This strategy will be achieved through the creation of a contract or agreement, which should be signed by both parties.

In order to avoid misunderstandings and inconveniences in operation, it is essential to engage in a contract. This contract indicates all terms that need to be agreed upon and signed, indicating that the parties have read and understood the stipulated conditions. More so, the contract highlights the terms of the agreement; in this context, it is the agreement between the clothes lender and the models. The contract agrees that they will have to pay for the clothes if they do not meet the conditions; that is, failure to bring good consent pictures within the two weeks they will pay for the outfit. The advantages of the contract are to minimize all forms of liability and reduce the potentials for confusion as well as unmet expectations (Allam, 2018). However, it is essential to ensure that the contract is not too lengthy, complicated, or restrictive to avoid causing suspicion and thus scare away the models; thus, the business might collapse.

References

Allam, Z. (2018). On smart contracts and organisational performance: A review of smart contracts through the blockchain technology. Review of Economic and Business Studies, 11(2), 137-156.

Attracting Business to Florida

Part One: Market Analysis

Florida is a state well known for setting up small businesses. A region where the business individuals enjoy tax advantages over small businesses in other states. More so, housing several startup hubs which offer ready access to investors. However, the region is characterized by seasonal highs and lows of Economy, a need to have a strategic plan. The plan should primarily focus on evaluating the competitiveness of businesses. This section is a research that will embark on evaluating the growth of businesses and industries and the attraction of new businesses and industries in the State of Florida (Giudici et al., 2020). This analysis will be made successful by using Porte’s Five Forces to examine the competitive strengths, weaknesses, opportunities, and threats in attracting and growing business and industry.

Before setting up a new business, it is essential to conduct a market analysis. The primary purpose of the analysis is to carry out an industrial analysis specifically aimed at assessing the general industry environment in which the industry will be competing. More importantly, conduct a target analysis where the industry or the business identifies and quantifies the target customers for their products and competitive analysis where the business or industry identifies its competitors and analyses their strengths and weaknesses (Öneren et al., 2017). Primarily, this paper is concerned with the Five Forces and SWOT analysis, with a central aim of determining the attractiveness of an industry in Florida State. This analysis aims to provide a starting point for the formulation of strategies and to understand the competitive landscape in which the company operates.

Porter’s Five Forces analysis helps develop a framework that helps analyze the levels of competition within a certain industry. This framework is essential when starting new businesses or when entering a new industry sector. Our area of concern in the State of Florida, on attracting new businesses using this framework. However, it is essential to understand the strengths of opening a new business in Florida State when dealing with this framework. Florida is a state that sets strengths, which attract new business people and industry investors; being the largest state in the US makes it possess more possibilities to engage in business. Additionally, other strengths include lower living costs, which results in improved quality of life. These efforts combined with five forces are deemed to increase competition as well as the number of competitors. Other strengths that help attract new businesses in Florida include favorable tax structure, local governments’ pro new business, and a population with many cultures and high tourism rates (Dalton, 2019). These collective strengths and forces are essential in determining an industry's profit potential, which directly translates to its attractiveness. It is also important to note that, when the forces are intense, almost all the companies will not earn any attractive returns on investment; however, there is room for higher returns with mild forces.

However, there have been many weaknesses in setting a new business in Florida. One of the weaknesses is unhealthy competition from rivals in the Florida marketplace. In this force, the initial step is to identify the number of existing competitors and what each competitor can do best. This form of competition is highest when only a few businesses sell a product or a service, more precisely, experienced when the industry is growing (Porter, 2008). The reasons attributed to these weaknesses are low education levels, which are also a result of underpaid teachers, and lack of unionized workforces. Another weakness is deemed to originate from lower instants of high-technology industries.

For the business to improve their performance, they need to embrace the opportunity. Some of these opportunities include the bargaining power of the customers, which examines the customers' influence and the impacts they impose on pricing and quality of goods and services. The power of the customers is greatest when they are few, and the sellers are plentiful, which offers them a wider variety of options to shift to. On the other hand, the power is minimal in instances where the customers purchase products in small amounts and the seller offers products that are different from those of their competitors. This is an opportunity for the business to provide the customers what they need best; this is an opportunity to improve the companies performance.

The Bargaining power of suppliers is an analysis of the power compelled by the business suppliers and the control power over the rise of its prices. This is attributed to a direct decline or lower of business profitability. This is also aimed at the assessment of the number of raw materials and other available resources. If the market has few suppliers, they possess great power, which directly impacts businesses. These businesses will greatly benefit when there are multiple suppliers. The diversity of supplier’s base is a limitation to the suppliers' bargaining power, providing an advantage of diminished supplier’s leverage.

On the contrary, Florida has been with threats that affect the business investors. These are externally sourced challenges that face business individuals. One of the threats to new entrants in business is measured in terms of how easy or difficult it is for rivals or competitors to join the marketplace. When the joining of the marketplace is easy for new competitors, there are high risks of established business markets shares getting depleted. However, the existence of a barrier to entry, which ranges from access to inputs, absolute cost advantages, strong brand identity, and economies of scale, is a limitation to the entry of new players into the market (Pádraig, 2017). This limitation is evident due to the large capital needed in branding and advertising as well as creating product demand.

The threat of substitute products or services: This analysis is done to determine the ease of customers switching from a business’s product or service to those offered by a competitor. In this analysis, various analyses are conducted with the first targeting to examine the number of available competitors, comparing the price and qualities of products or services of the business being examined, and the amount of profit earned by the competitors. These are the efforts that need to be analyzed to determine if the business can lower its costs even more.  The threat of substitutes is addressed through informed switching of costs, either immediate or long-term, also considering customers' inclination to change.

Moreover, after the analysis, it is essential to develop strategies for success. These are strategies aimed at expanding the business’s competitive advantage. Some of the strategies developed include cost leadership, where the business focuses on increasing profits by reducing costs. This is achieved by charging industry-standard prices or increasing market shares by reducing sale prices while embracing profits retention (Kung’u, 2017). Another strategy is differentiation, where the business has to make its products better than those of its competitors; this can be achieved through research and development and ensure effective sales and marketing. More precisely, the business needs to focus on niche markets where they can sell their goods. This can be harnessed through a robust understanding of marketplaces, sellers, buyers, and the available competitors.

Part Two: Strategic Positioning Analysis

Creating new businesses needs a strategic positioning for its success. This is through embracing effective and efficient strategies that keep the business operation competitive. The relative positioning of a business or industry is paramount in determining its performance. Strategic positioning is key in reflecting its choices to build its value relative to its rivals or competitors. In this strategy, the ultimate goal is to achieve a premium price or lower costs for the company (Haseeb et al., 2019). This section’s central focus is on creating strategies for Florinda’s Unique Selling Points and the strategies recommended by the civic leaders to ensure that the businesses maintain a sustainable competitive advantage in growing the existing businesses and industries and attracting new businesses to this state.

Some of the strategies that I would highly recommend to the civic leaders concerning sustainable competitive advantage are discussed in the context below. These recommendations and ideas target the growing businesses and attracting new ones to this place. These strategies focus on ensuring a long-term performance that is considerate of all the stakeholders and customers. Ensuring a sustainable competitive advantage focuses on cost leadership, where the company should be directed to produce and sell products and services at a price relatively lower than that of the direct competitors (Cantele & Zardini, 2018). With this in place, the lower-cost leader is enabled to earn above-average profits, and this strategy works best with relatively bigger companies. For smaller and mid-sized, cost leadership is not a practical strategy; this is because the strategy requires high investments to achieve economies of scale.

Another promising strategy is differentiation, where companies distinguish their products and services by their features and benefits from competitors. This strategy focuses on creating products or services that customers perceive as unique in the business. The business operations are thus able to charge the premium price and earn profits with above-average margins. This strategy stands out as the most common and viable for many companies, both small, medium, and large enterprises (Haseeb et al., 2019). This is to some extent because there is only one cost leader in an industry, although there can be various business operations that would help differentiate features and benefits. Although this can be an expensive strategy, this strategy requires extensive research, product development, and marketing that would help in broadening the customer segment to help achieve sustainable leadership.

Additionally, the focus is a strategy that enables businesses to dominate a niche; through the focus, company strategies understand the market dynamics. Companies that succeed focus on unique customer needs of the market niche, developing and promoting niche of products and services that can attract a higher share of customers in the market segment than their competitors. This strategy aims to ensure that the business earns above-average profits, thus reducing the threat of competitors in the market. The focus has a central concern on a narrow target market; this strategy aims to offer a greater chance of becoming a leader of the niche. This effort is achieved when the target segment is less vulnerable compared to the substitutes or where the competitive landscape is weaker. The choice of the customer segment is based on market trends, demographics, psychographics, and customer needs.

The efforts towards this strategy should decide on the best types of products and services and offer a solution to sell in this market niche. These strategies also focus on a narrow target market, which makes it possible to contain costs. In this effort, the business and industries are capable in to conduct advertisements and promote their and their services in media that directly focus on the target groups. This strategy of focusing on a narrow market has been globally evident to be one of the world’s successful strategies for the majority of the companies. This is due to increasing the customers' share, expanding the market, and becoming a leader. Another promising strategy that helps in sustainable competitive advantage is developing intimacy with customers. This strategy is achieved by getting into close contact with customers to find out much about each customer segment (Arslan, 2020). After getting a clear understanding of the customers, the products and services can be tailored to them, offering them solutions to their problems. Over time, this strategy leads to stronger trust and customer loyalty, which induces more purchases by the same customers and referrals to new customers.

Additionally, using limited promotional channels is a strategy that helps companies advertise and promote products through many types of media. Advice to the new business and industry is to focus on a few advertising channels and thus getting hire opportunities from the limited resources such as money, time, and staff. Thus it is essential to master and get the most mileage from a few types of media. More importantly, the company needs to advertise the brand based on the location of customers relative to the product or service. Commonly, the business should have a central focus on long-term success, which enables the company to earn profits in both the short and long term (Cantele & Zardini, 2018). The focus strategy is highly profitable, as opposed to a strategy that only supports expansion. More precisely, the bottom line is to focus on a niche where you can create and sustain a competitive advantage, which will enable a new business or industry to rule over its competitors.

Part Three: Executive Summary

• This analysis will be made successful by using Porte’s Five Forces to examine the competitive strengths, weaknesses, opportunities, and threats in attracting and growing business and industry.
• Porte’s Five Forces and SWOT analysis has a central aim of determining the attractiveness of an industry or business in Florida State.
• Analyzing internal factors, strengths, and weaknesses as well as external factors, opportunities, and threats, are essential in ensuring success in growing and creation of new business and industry.

Strategic positioning analysis helps in reflecting the choices that the company makes to build its value relative to its rivals or competitors. These strategies are recommended to the civic leaders to ensure that the businesses maintain a sustainable competitive advantage in growing the existing businesses and industries as well as attracting new businesses to Florida State. These strategies focus on ensuring a long-term performance that is considerate of all the stakeholders and customers.

• First is ensuring a sustainable competitive advantage focuses on cost leadership, where the company should be directed to produce and sell products and services at a price relatively lower than that of the direct competitors.
• Secondly, is differentiation where companies distinguish their products and services by their features and benefits from their competitors. This strategy stands out as the most common and viable for many companies, both small, medium, and large enterprises.
• Lastly, it ensures that businesses and industries focus on the unique customer needs of the market niche, developing and promoting niche products and services that can attract a higher share of customers in the market segment than their competitors. This strategy aims to ensure that the business earns above-average profits, thus reducing the threat of competitors in the market.

These strategies also focus on a narrow target market, which makes it possible to contain costs. Another promising strategy that helps in sustainable competitive advantage is developing intimacy with customers. Advice to the new business and industry is to focus on a few advertising channels and thus getting hire opportunities from the limited resources such as money, time, and staff. Thus it is essential to master and get the most mileage from a few types of media.

References

Arslan, I. K. (2020). The Importance of Creating Customer Loyalty in Achieving Sustainable Competitive Advantage. Eurasian Journal of Business and Management, 8(1), 11-20.

Cantele, S., & Zardini, A. (2018). Is sustainability a competitive advantage for small businesses? An empirical analysis of possible mediators in the sustainability–financial performance relationship. Journal of Cleaner Production, 182, 166-176.

Dalton, J. (2019). SWOT analysis (Strengths, weaknesses, opportunities, threats). In Great Big Agile (pp. 249-252). Apress, Berkeley, CA.

Giudici, G., Milne, A., & Vinogradov, D. (2020). Cryptocurrencies: market analysis and perspectives. Journal of Industrial and Business Economics, 47(1), 1-18.

Haseeb, M., Hussain, H. I., Kot, S., Androniceanu, A., & Jermsittiparsert, K. (2019). Role of social and technological challenges in achieving a sustainable competitive advantage and sustainable business performance. Sustainability, 11(14), 3811.

Kung’u, A. M. U. (2017). Effects of selected porter’s five forces on competitive advantage in steel industry: a case of flat-steel segment (Doctoral dissertation, United States International University-Africa).

Öneren, M., Arar, T., & Yurdakul, G. (2017). Developing competitive strategies based on SWOT analysis in Porter’s five forces model by DANP. İşletme Araştırmaları Dergisi, 9(2), 511-528.

Pádraig, B. (2017). An Analysis of Michael E. Porter’s Competitive Strategy: Techniques for Analyzing Industries and Competitors. Macat Library.

Porter, M. E. (2008). The five competitive forces that shape strategy. Harvard business review, 86(1), 78.

Product involvement and ZMOT

 Introduction

 In the last decade, researches investigating consumer mannerisms and decision-making determinants have expanded their research to cover vital subject matters on marketing in the current society. Marketing decisions rely on assumptions and consumer behavior information. Primarily, consumer behavior has always been the integral in marketing of products and services.  Mass customization organizations rarely use conventional stores to sell their items. This implies that clients make their purchase decisions on a variant stage known as the zero moment of truth (ZMOT). Corporates should narrow down on the underlying reasons which facilitate the occurrences of that lead to ZMOT and the manner in which potential clients operation before making a decision.

Product Involvement Level

 Based on the customer’s capability and information, some customers tend to make precise purchase decisions. On the other hand, a small fraction of consumers might acquire information which then help in the decision making process before parting with their money. Levels of involvement reflects on the interests and the significance a consumer has on the product (Biçer, 2020, 153). The involvement levels in purchasing decisions might be considered to be a variety from routine decisions consumers make regularly. Whether a purchasing decision is low, high or restricted, involvement differs from one consumer to another. In the meantime people tend to be more persistent when it comes to purchasing items that they consider familiar and essential to them.

 At some point, consumers have to consider the items that they have and relevancy or value they add to their lives. Occasionally, consumers compare products and then they do not buy any of them. Due to the wide range of products from which a person can choose from, the consumer bargaining power tend to increase as he or she has more than one options with which he can get value for their money. More than one alternative, for instance, milk, bread and other basic commodities offer people more than one level of coming up with regular decision making routines. Whenever decision makers are interested in capturing the needs of the consumers, the easiest way of finding out is by tracking down the purchases made on a daily basis and trying to figure out the underlying reasons for these consumer routine (Biçer, 2020, 155). This is because consumer routines offer insight into the underlying decision making processes that are outline according to the meaningful value being offered by the various brands. Therefore, luxury products cannot be considered most of the time when managers want to isolate consumer behavior and their respective decision making patterns which in the long run can be predicated and applied in sales strategy. Therefore, the ever changing marketing environment has to facilitate the manner in which manager are informed on vital consumer mannerisms. Underpinning consumer behavior should depend on the product placement and location of the consumers (Ertemel, and BAŞÇI, 2015, 526). Often at times consumers are faced with more than one option or are under instructions from another person who influences preferences. Simply put, product involvement levels have to be tied to the ZMOT models of decision making and thinking. Additionally, changes in the marketing structure can be attributed to be more of the ways of preventing people from attaining a certain degree of predicting consumer behavior in the current market. Sometimes the intuition of the customer might lean on products perceived as valuable or offering value for money. At this point, peers are said to be the best option of evaluating product made and the progression of most of the times purchase at a particular time.

 Customers normally engage in regular response behaviors whenever they initiate low involvement decisions. That is, customers make automated acquisition decisions established on restrictive details or evidence. For instance, if a consumer regularly purchases coke, that particular consumer is engaging in regular response behaviors. Therefore, while engaging in regular response actions, consumers rarely think of other options hence the decisions are automated to fit their needs at that particular time (Pitman, Amolo, and Ramraj , 2018, 45). Similarly, if a consumer is used to a certain product, then he or she can purchase the product without the need to consult other people around them. Most of the low involvement buying decisions are made devoid of planning or second thought on the issue. For the sake of coming up with more than one way of achieving clarity and predicting human behavior, the people have to be able to effortlessly trace impulsive decision and the underlying reasons driving these decisions. For instance an impulsive buyer goes to the grocery store but2 leaves with both groceries. Therefore, low involvement decisions are normally made under unplanned contexts hence can be categorized as impulsive.

 On the other hand, high involvement choices are associated with a greater risk to the consumer if they fail. High involvement decisions are vital to the consumers. These choices are related to customer’s mannerisms and identification. These type of purchasing choices contains high stake risks which put the consumers at a more critical situation where they cannot afford to lose their money. Consumer trends also alter throughout the years. In the dynamic society most consumer expect a product to engage all their senses. Therefore, a product has to have the right touch, senses and smell. The modern day consumer has to be convinced to part with his or her money (Pitman, Amolo, and Ramraj, 2018, 46).  There is an increasing need for diversity and knowledge among consumers who want quality services and brands from companies. In current digital marketing, the consumers want more than just observation, they also want to experience and even engage their senses before making a final purchasing decision on a product or service. Digital marketing is no longer a passive activity, one has to interact with the customer at various levels- be sensory or emotional level, the potential customer has to be moved into parting with his valuable money. Therefore, consumers want active contribution in marketing.

 Diversity causes increase in hyper-efficiency needs. The consumers are searching for and settling on smarter and more resourceful means to resolve their challenges. Societies are utilizing space and time to incorporate smart purchasing strategies into one single entity. In addition, customers are accustomed to super-personalization (Biçer, 2020, 153).. Emerging technologies enable companies or manufacturers to predict consumer mannerisms or tailor product and services according to consumers’ needs. Advanced technology is essential in public’s daily lives and the internet has replaced most of the traditional marketing strategies. Hence, the shift from traditional purchasing behavior to e-commerce should be accounted for by marketers. Subsequently, customers pay attention to global use resources and their societies hence they want to be associated with brands that support conservation efforts of earth’s resources. Since 2016, researches took note of businesses which aligned their manufacturing operations with conservational and societal issues. The increasing pressure exerted on corporations to authentically use natural resources in a responsible way has forced most companies to adapt environmental friendly mechanisms while manufacturing products. More so, it is important to take note of the primary characteristic of the current consumer market-millennials (Krajnović , Sikirić,  and Bosna, J., 2018, 33). Millennials have a constant social media presence but social media platforms rarely influence their purchasing decisions. Millennials interpret marketing from multiple social platforms. Hence, millennials are usually impacted by their peers’ perspectives and thoughts. Therefore, marketers have to comprehend how millennials interpret and consume product information. Secondly. Delivering marketing information has to be done in a way that appeals to multiple senses.  Marketing objectives have to be extensive and reach more consumers within a short period of time in order to directly influence purchasing decisions. Marketers are usually searching for opportune moments when they can influence purchasing decisions.

Product Involvement Levels’ Influence on Feedback Loop In the User Journey

 Even though consumers search a product’s details before making a purchase, the ways in which these consumers go about looking for product information cannot be clearly outlined. Currently, the internet is the most reliable way of searching for a product’s or service’s information. Online also enables previous consumers to leave reviews on various products. In the current dynamic market consumers move back and forth because sometimes they purchase items online or offline. A consumer can shop online and then the next day purchase items offline. It depends on the needs of the consumers- sometimes it is more convenient to shop online than it is to shop offline. A consumer can search for product’s reviews, rating and pricing and then purchase the product offline. Google makes use of ZMOT to gather honest reviews and experiences on various products from consumers. The shared truth is supposed to influence purchasing decisions. Social media is one of the most influential platforms for using ZMOT marketing tools and perceptions. Through social media consumers share information and exchange details and experience on certain products. Therefore, social media creates influence which then impacts final purchase decisions on products. Gaining more loyal customers implies that consumers have to comprehend customers’ feelings, thoughts and actions. ZMOT plays an integral role in outline a consumer’s perspective. Consequently, the customer’s perspective is then used to formulate marketing strategies that will capture the specific interests of various potential customers in the marketplace.

 Whenever people want to capture the needs of the community, ZMOT is one of the best indication of law or high number of sales being made across the market. ZMOT assists marketers to define consumers’ perspective and then use it formulate an operational marketing strategy for their products and services in the market. Marketers have to come up with a marketing strategy that helps them perceive future consumer thoughts without even considering the past whenever there is decline in the sales being made. Most of the times consumers have to ensure that they engage their potential customers in more than one way. In case one option fails, there are several other than can be considered and implemented as seen fit. Marketers tend to think that consumer mannerism sometimes do not reflect the final purchasing decisions due pricing and other factors that might come into play before one purchases an item. In the long run, one has to be more effective in terms of issuing the right information ad presenting a product in a genuine manner that does not lie to the consumer market (Htut, 2016, 118). With the advent of internet marketing, more people are relying on their internet-enabled devices more than ever for updates and news on the daily basis. Basically, ZMOT tracks down decisions and then tailor makes product that suits the needs of the customers. The product purchasing decisions is triggered by exposure to stimulation which then might influence decision making process. In the digital world, information flows constantly hence forcing marketers to try and influence the interpretation of most of the information. An opening to speak to more customers also exposes if the product was quality or poor in terms of the quality received. In the recent times, the chance one has to come up with innovative products is at an all-time low. In the current market products are competing for a limited marketing space. Sometimes consumers might fail to work on information and wait until the all the factors are contained in one product. Therefore, there is a need to capture more details while marketing.

 In summary, customer behavior can be tracked through numerous channels such social media, blogs and product reviews. The dynamic digital marketing strategies have to appeal to the five senses of a consumer that is touch, smell, vision and the rest. Customers have to make rational decision before purchasing product, the involvement have to match the need for the product because sometimes the needs are to be respected and considered in the manufacturing process. Whenever people have more than one option, the price of the products tend to go down and chances to retain a high price while getting quality services.

References

Biçer, F., 2020. The Impact of Zero Moment of Truth (Zmot) on Smartphone Buying Decision. Journal of International Trade, Logistics and Law, 6(2), pp.153-167.

Ertemel, A.V. and BAŞÇI, A., 2015. Effects of zero moment of truth on consumer buying decision: an exploratory research in Turkey. International Journal of Social Sciences and Education Research, 1(2), pp.526-536.

Pitman, S., Amolo, J. and Ramraj, A., 2018. The South African Women Purchasing Behavior and the Zero Moment of Truth. Journal of Economics and Behavioral Studies, 10(4 (J)), pp.45-53.

Krajnović, A., Sikirić, D. and Bosna, J., 2018. Digital marketing and behavioral economics. CroDiM: International Journal of Marketing Science, 1(1), pp.33-46.

Htut, z., 2016. Zmot behavior of internet users in yangon. Research journal.

 Directors’ Future to Promote the Success of the Company

 Introduction

 With the United Kingdom exiting European Union, it is a vital period to deliberate on open-minded decision-making, against the background that, primary benefits of being an EU member about UK company regulation was the incorporation of laws which would see to it that those regulations would protect the interests of numerous companies across the nation. Section 172 forces directors to act in a manner that is beneficial to the entire company. Thus, the directors are obligated to protect the interests of the entire company. Also, the government has been carried out evaluations to see that all company directors adhere to the rule of law and follow all the details about section 172. In the case study, the director defendants were supposed to protect SML’s interest hence the shareholders were not responsible for dealing with legal matters pertained to SML. The function of the director is to protect company assets from being transferred or translocated during a transaction.

The Issue and argument

 Stubbins Marketing Ltd V Stubbins Food partnership’s judge dwelled on the duomatic concept: a company director’s illegal actions are permissible as long as the shareholders are informed of the decision. The judge insisted that full disclosure gives the director legal right to perform his designated duties to the company as he deems fit. On the other hand, the shareholders have to be given enough time and space to comprehend the director’s decisions before implementation. Based on this argument, the director defendants are right because the shareholders had a right to protect SML’s interests.

 The director defendants failed to prevent SML’s assets from being moved and reorganized during a certain transaction. Consequently, the director defendants are shifting the blame to shareholders. On the other hand, the shareholders are arguing that SML is a legal entity hence the legal obligation to prevent the restructuring of the assets lies with the director’s office. Hence during the transaction, the director defendants did not stop the structuring.

Principles for Supporting the Framework

 According to the details contained in section 172 of the companies, directors must perform their responsibilities in a manner that shows good faith to the company. As a result, directors should consider the consequences of their decisions will have on the entire company. For example, a director has to consider the impact his decisions will have on staff members and business relationships the company enjoys with other people such as clients, suppliers among other people [1]. Hence, it is beneficial if a decision is deemed to be beneficial to everybody within the company. If the decision is not done in good faith, then, it will have a ripple effect on the people of the entire company. It is vital to note that if a corporation is bankrupt, the role of the director is to evaluate company creditors and act in a manner that favors the creditors rather than shareholders of the company. Due to the extensive operations directors carry out on a day to day basis, shortly, their duties will be evaluated through the performance of the entire company. The board must evaluate directors before any person can fill the directorial position [2]. Presently, the directors have to tackle issues such as business strategy, procedures, medication, and safety and also see to it that the business is sustained in the future to come. Thus, there is much at stake when it comes to directors. The chance to come to terms with the duties of directors to oversee more critical and step projects makes them liable to numerous things that might occur in the future.

 Essentially, international company interruption and present indecision has proven that directors and board members are components that determine a lot of things when it comes to insulating companies from hard times and promoting the evolution of adaptable and effective companies which in the long-run serve the aim of human societies. In this particular context, the duty of the director's defendants was to safeguard the interests of SML Company, however, they failed. Hence, the director should be held accountable for the failure to protect the interests of SML. Also, the role of the directors does not allow them to pass the blame to the shareholders or the board members [3]. Simply put, the director is the beginning and the end of it all. Besides, SML had a right to safeguard its legal rights and see to it that more was done in terms of creating a separate entity and issuing a  warrant that would block third parties from accessing its transactional terms and conditions. More so, the directors should see to it that more is done regarding the protection of SML assets and systems. Notwithstanding, it is the new normal for directors to do everything possible to direct all their efforts toward the protection of the legal rights of a company.

Practically, the role of directors places them on a higher pedestal than they already were. This is because a director has to have the ability to steer companies through disasters while at the same time extenuating the hazards and comprehending mechanisms that will assist the company remain low in debt and stay afloat amidst tough economic times. The rising demand for good results has led to the optimization of companies and implementing changes that are flexible and beneficial to the company. The chance to have more than an event where one has to apply variation in skill and mannerisms, directors all over the globe have been forced to adapt to alterations in local and international market spaces coupled with the commitment to come to terms with more than one way of offering the chances that were never given to the company as time goes by within the market space.

Standard prerequisites for conducive administration, audit monitoring, compensation policies, company performance objectives, and successive primary leadership have persistently, shaped the role of directors all over the world. Nevertheless, in the current period, most companies have been forced to realize that a director's qualities are a mixture of specified and diversified skills and mannerisms which in turn generate effective business administration. Even though shareholders are at liberty to put their economic interests in the first place, most of the themes lean on the lucrative side [1]. However, a director is tied to his responsibilities and can be held accountable if he goes contrary to his obligation.  A board has to strategically guide a director's decision-making process and see to it that he does not in any way, he does not contradict the law and the interests of the entire company. Where the production seems to outpace the alterations, the directors are supposed to initiate an operation process that will be an interim and justify the operations of the entire company. These actions company has to be done in relation with other consultants and also issue a notice that would protect more than one aspect of the entire status. In the event.

Article 172 companies Act, 2006

 The directors of companies should conduct themselves in a way that facilitates the interest of the company. This way, the director is more likely to promote the overall performance of the company. In the meantime, people have to be more responsive to the entire company or organization [4]. Before making any decision, the director has to evaluate the impact of his decision before making it. The implication of a decision should be considered in terms of the long term effect on the company under which the decision is being made. Additionally, all the people working for the company have to be notified of the matter at hand so that they can be well informed of the decision and the effect it will have on them in the long run [3]. As time goes by people are redefining the director’s role in decision making due to the impact the director has on the entire company. Besides, the need of fostering good relationships with other people so that its collective obligation to the community can be realized and protected. This way, the brand image of the company is kept well and within safe hands. The company’s business operations affect the immediate communities and surrounding hence another reason for coming critically assessing a director’s decisions before he makes them. In the meantime, once a person is considered central to a certain area, the company’s desirability is at stake because the company has to protect its image to the market players.

Application of The Facts To The Argument

 Hong Kong director laws and regulations are not that much different from the ones in the United Kingdom. In Hong Kong directors play the same role in matters about promoting the entire company and ensuring that it remains afloat during hard economic times. Hong Kong requires private companies to have one or more directors. Supplementary directors are to occupy other positions for the sake of helping with matters concerning administration, a delegation of duties are to be divided this way so that the director can be held accountable for anything that happens during his tenure [5]. The director's nationality is not restricted to any nationality as long he is appropriately serving his duties. Also, the director has the authority to hold a meeting outside of Hong Kong. In this particular case, most of the directors are normally given the chance to take part in defending the company and protect their interests by doing so. In terms of the general obligations and accountabilities of directors, most companies are required to follow the Hong Kong constitution [6]. In case someone fails to adhere to the law, the director and his obligations to the company are to be held accountable due to civil and criminal law. Even though case regulations are framed to elaborate about director roles, they are sometimes inaccessible to the public. Hence the company is to objectively carry out its activities because most of the things are done based on the regulatory standards set by the government. This also implies that the director has a civil duty to obey the law of the land. Also, there is a guide that outlines how a director should carry themselves.

 Directors are advised to refer to supplementary information such as reviews of their obligation and directory regulations. For instance, the Hong Kong institution formulate and update frameworks for directors to operate under. Directors are also required to adhere to corporate governance policies that dictate how company activities are conducted daily. It is vital to note that an outline set aside to aim in controlling directorial conduct is important because it determines the level of commitment directors have towards the company [7]. Also, the guidelines are only meant to serve one purpose hence should be separated from constitutional law. In the guideline, the first duty a director has to the company is acting in good faith so that the company can have an advantage entirely. A company's director is supposed to make decisions with the welfares of the company at heart. This implies that the director is obliged by law to cater to the needs of the company and that of its shareholders. While performing the obligated duties, a director should consider the final result before making a decision. Moreover, any authority given to the director is supposed to be used for the good of the entire company hence as a director exercises his duty, he should keep in mind the goal is to meet the objectives of the entire company. Thus, whenever a director carries out duties, the aim is to do with proper cause or purpose [9]. The duties of the directors have to be in line with those of the interests and immediate aims of the company. Similarly, the director needs to ensure that he does things according to the stipulations of the law. For instance, the director has to make sure that all the things are done skillfully and the result is high quality and acceptable to the people. General information has to follow through with skilled and experienced personnel who are ready to protect the reputation of the company due to the reasonable manner in which things are done. Also, highly skilled people with well-known experience can ensure that all the functions are carried out in an accurate manner that meets the immediate objectives of the entire company. Whenever people are helped or come to terms with more than one way of doing things, the director is supposed to verify each one of them before settling on the best option that would see to it that everything is legally binding and follows the criteria set by the company. Simply put, each and every decision a director makes have to be governed by rules and policies put in place prior to decision making.

 Certain duties are given to the director. These duties are set aside to enhance performance and make sure that a company is diligently run. One of the duties given to the directors of companies is never to deal with transactions that they have an interest in as it is against the law [9]. A director has to put the company’s interests first and help in the facilitation of more than one given aspect. Hence, to give the company undivided attention has to be neutral in everything that he does over the long run. Therefore, the director’s interests have to be those of the company and this will give the company the chance to thrive. An obligation to promote the duties of a company have to do with financial and even civil.

A director's obligations are normally categorized into two sections- fiduciary and duty skills and upkeep. Even though Hong Kong regulations explain and in-depth discuss the most important parts of the company regulations, some of the regulations are intricate and need to interpret by lawyers. Taking a broader approach to the issue of inaccessibility to matters pertaining director's role to the company and the community has made it hard for most of the directors to be held accountable whenever they mess up or misuse their power [8].  The obligation or choice not to delegate matters has called for people to be more assertive and calm whenever the director makes a mistake because the law is availed to block any misdeeds. The chance given to directors is supposed to be for protecting and upholding company regulations and laws which in the long run safeguard community welfare and safety especially if the company derives its raw material from the nearby zones. More regions are acknowledging the fact that most directors make crucial decisions hence the need to evaluate the decisions through a third party that ensures most of the functions are assessed and challenged based on the court of law. This way, the director gets a chance to exercise authority in line with the constitution. At all times the director of a company should align his actions with the company directives and should only exercise authority under the stipulated jurisdiction. A person who occupies the director position has to make sure that he is acquainted with the constitutional stipulations and he is ready to as the constitution asserts. The contract which a lawyer sign is supposed to be binding to the company [8].  While determining the commitment of the director to the company is important, all the activities have to be verified by the board. This way, more than one person is responsible for issues that go on in the company hence in case of a breach of the law, more than one person takes note.  Consequently, the director does not have to check himself every time.

Conclusion

 The director of a company plays a legalistic and civic duty to the company.  Directors have to protect the interests of the company at all costs. Also, the workers and everybody that operates in the company have to be considered while making decisions.  The key aspect is fostering good relationships with other people who work with the company such as suppliers and even transporters. Also, a board can be put in place to vet potential directors before they can take the position.

References

Bauer, R., Guenster, N., & Otten, R. (2014). Empirical evidence on corporate governance in Europe: The effect on stock returns, firm value and performance. Journal of Asset management, 5(2), 91-104.

Bhojraj, S., & Sengupta, P. (2013). Effect of corporate governance on bond ratings and yields: The role of institutional investors and outside directors. The journal of Business, 76(3), 455-475.

Cuñat, V., Gine, M., & Guadalupe, M. (2012). The vote is cast: The effect of corporate governance on shareholder value. The journal of finance, 67(5), 1943-1977.

Jo, H., & Harjoto, M. A. (2012). The causal effect of corporate governance on corporate social responsibility. Journal of business ethics, 106(1), 53-72.

Okoye, A. (2020). Reflexive Law and Section 172 Reporting: Evolution of Social Responsibility Within Company Law Limits?. European Business Law Review, Forthcoming.

Paniagua, J., Rivelles, R., & Sapena, J. (2018). Corporate governance and financial performance: The role of ownership and board structure. Journal of Business Research, 89, 229-234.

Quinn, J., & Connolly, B. (2017). The non-financial information directive: An assessment of its impact on corporate social responsibility. European Company Law, 14(1).

Tsagas, G. (2018). Section 172 of the companies act 2006: Desperate times call for soft law Measures. Shaping the Corporate Landscape: Towards Corporate Reform and Enterprise Diversity, 131-150.

Yarram, S. R., & Dollery, B. (2015). Corporate governance and financial policies. Managerial Finance.

Section 1

Executive summary

 General Clock manufactures and designs timepieces based on the needs of the market. This marketing plan highlights the marketing segmentation and the strategies the company applied during the production of Spree watches. Also, it reveals the approaches put in place to attract more clients and generate a reliable and sustainable financial income. It is vital to take note of the company’s innovation and the diversification of line of products and its ability to beat the competition. The General Clock Company ensured that it offered consultation services to manufacture more solidified products.

Section 2

Description of the Business

General Clocks was created out of passion and commitment to industrial workers and the fashion market. The objective of the organization was to offer quality services through the creation of watches.  General Clock was established in 1913 to make and promote the business time clock. George Taylor was the founder of General Clock. Taylor saw clocks as a tool for the management of the industrial workforce. During World War 2 the sales skyrocketed and he made higher profit margins. Even though the company was successful because it produced only one product, in 1948, the company restructured its marketing strategy for the sake of developing new products (Martin, 2009). General Clocks had only garnered experience in selling clocks to industrial workers. Industrial conditions were gruesome hence forcing General clocks to develop a viable and flexible product that would manage time for workers. General clocks came up with generic ways of manufacturing watches that would later easily be distributed in industrial sectors. The company's timing was precise, before the rapid progression and development of electrical and semiconductors. General Clocks transformed technical items into finished products hence garnering profits in the long run. In the 1960s the sales went up to $120 million. In the middle of the 1960s, General Clocks came up with a customer department whose mission was to develop and introduce clock related items to the general market. Their design and the industrial experience was appropriate for the manufacture of the clocks. Also, other products would be made from the clocks. In 1995, General Clocks organized its company into five departmental quarters and its profit margins had grown to $400million. Due to the increasing sales and the durability of the products, the sales declined by 5%. In the long run, it was hard to develop its market share and space. Therefore, General Clocks had to formulate a new strategy to combat the lack of growth it witnessed in its market space. Numerous management strategies were discussed but none was worth the risk until the generation of Spree Watch.

Section 3

 The product was launched in 1998 as a commercial clock product. At the time of the manufacture, General Clocks had already specialized in industrial time items and commercial watches. The engineering timing department had created interesting technological advancements which in turn helped it in the making of metal watches. Even though plastics were cheap but durable, metal casings were used on spree watches hence giving the product a chance to entice more consumers. Also, some people doubted if mental casing were durable enough. Hence, the producers gambled with the appearance of the Spree watch (Luan, & Sudhir, 2010). Also, the appearance matter was to be solved through the creation of plastics that resembled metal casings. This new kind of plastics made it possible for customers to buy the watch because they thought that it was metal. Plastics enabled watches to take more than one shape and color. Beating a watch against a hard object would reveal that the manufacturers used plastic and not actual metal.

 A second development in the Spree watch was General Clock’s creation of quartz motions which were inexpensive to generate and duplicate. Industrial timing items needed various plastic-coated tops. These plastic coated tops would be generated economically and later used in the manufacture of wanted patterns. The laminated surfaces were durable and ideal in the long run. These made the product more durable and inexpensive. Unfortunately, some of the targeted consumers were not comfortable with the changes (McDaniel Jr, & Gates, 2018). These customers questioned the durability and the general appearance of the products. The appearance aspect was eradicated through the creation of plastics which resembled metals these revamped plastics made the company assume that they had an advantage over their competitors.

SWOT

In terms of strength, the Spree watch was innovated promptly which made it a perfect product made at a perfect time. Also, it came in different brands. The Spree watches were accompanied with numerous benefits compared to other competitors who offered the same product (Williams, 2015). To attain specific objectives, the company offered special features which came with varied unique appearance (Awais, & Samin, 2012). Also, the watch retailed at $ 45 which is a competitive price for most retailers. In terms of distribution, the company covered 75% of the entire marketplace hence its outreach was enormous. Consequently, the company was able to drive up its sales because its item was distributed to more regions at a faster rate. Also, the advertisement strategy emphasized the watch's design and its pricing which naturally attracted more customers.

 One of the weaknesses of launching a new product is the lack of experience. Most of the time, the General Clock company missed its target market because it had no previous experience in distributing its product to selected regions (Thackeray et al., 2008). Secondly, promotions did not design for the fashion industry. As previously stated, the company made watches for the industrial workforce and had no experience designing watches. Alternatively, they manufactured numerous fashion watches hence failing to define the target market. In the end, there was reduced equity in terms of branding of the product. More so, competitors made fake replications of the Spree watch hence limiting its sale and destroying the brand name. Absence of registered patents, General Clocks found it hard to gain traction as competitors took advantage of the unregistered patents to make more advanced products.

 Once the Spree watch was launched, the company had the chance of capturing a wider market. First, the product was innovative and one of its kind. Therefore, the product was able to create a new space within the watch market. In due time, the sales increased because it was an exclusive product that was not in the market previously (Petruzzelli, 2012).  Most wristwatches forces companies to dig deeper into their creative designs and come up with better products. In summary, the market sales, coupled with an innovative product expanded the market giving way to a conducive business environment in the watch sector.

 The first threat encountered was stiff competition. General Clocks was competing with more than three major companies for the same market niche (Boisen et al., 2018). Even though it diversified its portfolio, garnering sales from other consumers was difficult to the company. Most of the times, the manufacturers did not have a plan on how they could capture new clientele. A part from stiff competition, the fixed pricing made it difficult to make more profit because some people could not afford the ratings.

Porter’s Five Forces

 Consumer had a higher bargaining power. When customers were searching for a watch, they had to compare Spree watch prices to other competitors. Hence, the brand managers could not define features which made the watch stand out as a fashion item. As stated earlier, the competition was stiff hence giving consumer a higher bargaining power. The consumer had to compare the products in terms of price, quality, features, appearance and suitability. Thus, the customer had a wider variety to choose from hence enhancing bargaining power of the clients. At the end of any transaction, the company profit margins were not as higher as perceived due high bargaining power from the consumers. Wrist watches are not a necessity and most people can do without thus, the need to incorporate wrist watches as a fashion product than a necessity (Dunlop, Freeman, & Jones, 2016). A part from consumers’ bargaining power, the suppliers also had a higher bargaining power. There is a vital variance between common brands and unique brands. The consumers have to tell the difference between a premium brand and a common brand. In this particular case, the Spree watch was perceived as a common brand because its watches were made up of plastics which resembled metal. Thus, the customers were duped into buying the product due to metallic appearance. Subsequently, the manufacturers failed to capture the needs of the customers in the product. Use of affordable items made the watch wear out a higher rate than other companies hence the product was seen as a common product and not a premium one.

 Apart from higher bargaining power, threats posed by new entrants has to capacity to decrease profits due to the splitting profits between different companies. The more the new entrants, the lesser the quality of the products and services rendered to the customers. Thus, the appeal of that particular sector decreases. The existence of numerous barriers of entries could reduce these kinds of threats. Barriers could take the shape of mechanical, monetary, premeditated or even legal (Pasquinelli, & Vuignier, 2020). The watch making industry contains numerous barriers of entry which create a tough condition for new entrants in the industry. A mechanical barrier is detailed and can be passed from one generation to the next. Financial barriers hinder jokers from ruining the industry due to the high capital requirements needed to fully meet the requirements.

 Substitution of products is tied to the willingness of the customer to substitute the product. In this particular situation it was difficult to substitute the Spree watch with an alternative watch because the watch had numerous variants to avoid substitute of the product with other brands (Hunger, 2020). In the end, the consumers were not able to substitute the watch because the company had made more than one version of the same item. Some of the factors that made the watch an easy substitute was the affordable pricing, quality and features.

STEEPLE

 The government policies together with taxation gave the General Clocks Company a chance to create an affordable product. Government enables a conducive environment for conducting business in an uninterrupted manner.  The watches were diversified into three regions: luxury brands. Common items and fashioned high end watches (Lasserre, 2017). The diversification enabled the company to capture a wider market and appeal differently to different market spaces. The luxury watches were priced higher than the common watches in an attempt to fill in the gap and attract more customers who would end up either buying a luxury item or a common fashioned watch. The economic aspects allowed the company to diversify its products so that it could meet the immediate wants of consumers. Also the social aspects of the economy enabled the company to make products that are in line with the cultural norms of that particular community. Also, the General Clocks had to brand itself as an international watch maker so that it can expand beyond its host nations. Most of its campaigns were geared towards making the product to fit religious notions and festivities. Thus, the company understood the social and political environment in which the operated under and this gave them a boost in terms of promotions and advertisements.

Due to technological advancement, General Clocks forced itself to incorporate technological aspects into the production of its products. This way, they were able to keep up with the current trends and remain relevant to their roles (David et al., 2013). Four primary rivals were from the Swish Company and Kline. There are numerous other watch making companies which take have taken minute market shares. Stiff competition especially among slowed down the sales of Spree watches in penetrative markets. General Clocks had to come up with a way of reducing the manufacturing components so that the final product can be afforded by most of the potential consumers.

Consumer Behavior

 The consumers were receptive but not excited about the launch of the new product. Hence, the excited was no turned into sales. Most of the consumers were just excited that Spree had launched new watches but they never took the initiative to buy and review the watch for themselves. These indicates that the General Clocks companies failed to effectively target a specific group of consumers. Failing to accurately target consumers implies that the product could not have gained enough traction to garner more sales. Therefore, even though the sales went up after its launch, the consumers who bought the watch were not previous loyal consumers. Purchasing something out of curiosity is not the same as buying it because of the company’s past reputation. Hence, Spree watches could no translated into long term profit gains (Barney, & Hesterly, 2010). Most importantly, consumers are changing their preference due to the changing times.  In more ways than one, people   can do without watches, the ability to capture the needs of the people without using expensive means sometimes fails. Most studies have proved that there is a correlation between. The chance of coming up with more ways of capturing the attention of consumers shifts depending with the times and the situation one finds themselves in. also, retaining the quality of the product is needed for the sake of building a reputable brand.  For the sake of keeping the financial records at par with the profit margins, Spree watches used alternative products to make watches which would be durable and appealing to more people. Thus, consumers are more likely to shift to more durable products than the plastic watches which are not durable. For some time, the company seemed to have captured the essence of the market due to the production of more than one variant, the company captured a wide and varied market but it failed to establish a solid and reliable market share that would have ensured it made consistent profit margins. Compromising the quality of the product. While it is important to make products that capture the interest of the market, it is also vital to meet the need of the consumers and develop a sense of durability for the products in the market spaces.

Section 4

Product Re-Launch

  The watches were to be delivered widely and they came in various designs and colors. The customization of the watches was to appeal to a wider target market. Most people could pick the watch they wanted based on the specifications it had. Some of the people had to come to terms with the acquisition of the more than one way of packaging and reconfiguring the items as they were presented to the clients. Also, the company planned on reintroducing the merchandize based on the means and wants of the people who were not questioned on their preference (Lasserre, 2017). Thus, the watch did not seem unusual to the members of the public as it garnered more sales and came with a more designed outlook that gave people a clear definitive sense of style. For instance, the purple watch came with a golden exterior and a leather strap. Everything was done to perfection and most of the people had to inquire on the particulars which were required to retain the watch at its current quality. In the same way, people had to come up with exclusive ways of matching the watches with their outfit. Simply out, the redesigning of the product gave the watch makers new opportunities and opening for creating more space for the product among the same market space.

Section 5

Product Re-Launch

New Segmentation, Targeting and Positioning

As stated earlier, the watch had to define a specific target market which would ensure the company makes more sustainable sales in the long run. New segmentation among older members of the world. Defining a known segment would mean that the watch has to sale among that particular segmentation. However, if the watch fails to garner enough sales at that particular segmentation, the target can be done in sports. In the meantime, people have to be kept to terms with the initial timing of entire launch (Barney, & Hesterly, 2010). Timing is the best positioning that the company can use to come up with more than one way of reducing saturation of the product in more market. More so, rebranding or policies that would ease of delivery to more consumes are enable the use of watches among numerous consumers. I terms of positioning, the product should be positioned in accessible stores so that all the retailers can showcase them to more consumers. It is vital to note tan most of the items are to be presented as premium even if they are common items. Commonality sometimes downgrades the ability of the item to sale among most people with higher purchasing power and this is the main reason behind branding and packaging the product as premium even though it is common in terms of features.

Section 6

Product Re-Launch New Consumer Behavior

 The consumers are to be attracted to the new packaging and the affordable rates. Most of the consumers are more likely to be drawn to items which have variant specifications which seem to be more common among their peers. Thus, the product has to search for a way of generating a new trend rather than adhering to existing trends. As seen before, the first product failed to capture a certain target segment hence it also failed to capture the needs of the people meet their needs appropriately. Once the product lands on the same (Gamble, Thompson Jr, & Peteraf, 2019). Most of the consumers have to be gravitated towards the product on the first sight and then make reviews after using the product. Some of the most common ways of meeting the needs of the consumers is ensuring that the product makes a good first impression through the appearance and affordable pricing.

Market Mix

 The product will still come in various designs and styles so that it fits into the budget of more consumers. In terms of the pricing, it should not be too low or too high because the main aim is attracting more than one person and given them a reason to purchase the product. For example, odd pricing is preferable as it makes the products attractive to more than target audience (Gamble, Thompson Jr, & Peteraf, 2019). Considering the retail prices to be at $45 or 50 is a good indication of a fair retail price. Additionally, regional marketers and managers should be considered for the distribution of the said watch.

Conclusion and Recommendation

Initially, General Clocks made clocks for industrial workers. The clocks were previously used to manage the workers and help to strategize on human resource management. In later years, the company developed a Spree watch brand whose aim was to cater to the entire public. The spree watch did not define its target market as it came in more than ten variants with the aim of capturing wider audience. Even though the products sales rose up, the profits were not sustainable because the sales were not made among their loyal customers. During the relaunch, the product was seen as affordable and unique due to its packaging style. Most of the marketing was done among the general marketers and marketers due to the ability to extensively cover a larger area.

References

Awais, M., & Samin, T. (2012). Advanced SWOT Analysis of E-commerce. International Journal of Computer Science Issues (IJCSI), 9(2), 569.

Barney, J. B., & Hesterly, W. S. (2010). Strategic management and competitive advantage: Concepts (p. 408). Englewood Cliffs, NJ: Prentice Hall.

Boisen, M., Terlouw, K., Groote, P., & Couwenberg, O. (2018). Reframing place promotion, place marketing, and place branding-moving beyond conceptual confusion. Cities, 80, 4-11.

David, F. R., David, F. R., & David, M. E. (2013). Strategic management: Concepts and cases: A competitive advantage approach. Upper Saddle River: Pearson.

Dunlop, S., Freeman, B., & Jones, S. C. (2016). Marketing to youth in the digital age: The promotion of unhealthy products and health promoting behaviours on social media. Media and Communication, 4(3), 35-49.

Gamble, J., Thompson Jr, A., & Peteraf, M. (2019). Essentials of Strategic Management: The Quest for Competitive Advantage, 6e.

Hunger, J. D. (2020). Essentials of strategic management.

Lasserre, P. (2017). Global strategic management. Macmillan International Higher Education.

Luan, Y. J., & Sudhir, K. (2010). Forecasting marketing-mix responsiveness for new products. Journal of Marketing Research, 47(3), 444-457.

Martin, D. M. (2009). The entrepreneurial marketing mix. Qualitative market research: an international journal.

McDaniel Jr, C., & Gates, R. (2018). Marketing research. John Wiley & Sons.

Pasquinelli, C., & Vuignier, R. (2020). Place marketing, policy integration and governance complexity: an analytical framework for FDI promotion. European Planning Studies, 28(7), 1413-1430.

Petruzzelli, B. W. (2012). Real-life marketing and promotion strategies in college libraries: Connecting with campus and community. Routledge.

Thackeray, R., Neiger, B. L., Hanson, C. L., & McKenzie, J. F. (2008). Enhancing promotional strategies within social marketing programs: use of Web 2.0 social media. Health promotion practice, 9(4), 338-343.

Williams, T. (2015). Using the evolution of consumer products to inform design. In Proceedings of the 6th IASDR (The International Association of Societies of Design Research Congress (pp. 2222-2235). IASDR (The International Association of Societies of Design Research).

Increasing Low Minimum Wage

Introduction

 Over the years, there have been attempts to increase civic minimum wages. Even though the government failed to pass regulations about low minimum wage, most zones and counties have formulated laws that require $15 each hour. Low minimum wages captured the attention of a wider audience due to their extensive impact on society. There is a need to increase the minimum wages per hour and ensure to reduce poverty rates in most parts of the world.

Arguments Supporting the Increase in Minimum Wages

 Most of the people who support the increase in minimum wages assert that it will help to keep incomes at a higher level hence enabling workers to afford meals and live a decent life. The rising cost of living is rising thus increasing minimum wages is necessary for most workers. Proponents claim that the alterations are essential as they afford human being a chance to live a decent life (Lordan, & Neumark, 2018). Additionally, the chief argument is improving the living standards. The working population is made up of more subordinate workers with crude skills hence increasing minimum wages would tremendously reduce poverty levels within any country.  For instance, the congregational reports indicated that an increase in the minimum wage would improve the lives of more than a 17million. This an indication that the majority of the workers are at the minimum wage level hence increasing their wages would insulate them from living an impoverished lifestyle.

 A raised standard of living directly impacts government expenditures. Most families will be able to afford basic commodities hence the government will reduce the finances allocated to aid the poor people. More so, most companies are more likely to experience increased productivity due to motivated workers. Consequently. Productivity would increase the general wages of all the workers of the company hence the need to improve on minimum wage policies. Most the entrepreneur have taken note of the challenges they encounter due to low minimum wages (Hill, & Romich, 2018). For instance, low minimum wages prevent the workers from consistently working on attaining the goals of the company. Most of the time, the chances of keeping up with workers who only get paid minimum wage is difficult because they have to work more than three jobs. Thus, increasing minimum wages reduces employment turnover as workers can stay in one place. To some extent, increasing minimum wages play a vital role in the helping business build skilled workers who are reliable once they are called upon to work on certain projects.

 Another argument posed for increasing minimum wages is the high inflation rates. Even though most employers increase the wages of workers, these increment fails to address and meet the needs of the workers in hard economic times. Economists claim increasing minimum wages should reflect on people’s lives. Due to the hard economic times, most workers are forced to pay more for basic and essential things such as food and rent (Neumark, & Wascher, 2015).  Thus, minimum wages should be increased based on the needs of the workers. In terms of the impact low minimum wage has had on children, an increase would tremendously save the needs of children and attend to their every need. In the end, an increased minimum wage would decrease the rates of poverty among children. Also, the income one gets Influences their ability to look after children.

State which increased minimum wages experienced numerous benefits. For instance, the states did not depend entirely on governmental aids. Electorates and representatives throughout history that a $7 minimum wage is low (Gindling, 2018). Thus, an increase in the minimum wages implies that the levels of poverty stagnation will decrease. Since 1968, minimum wages have lost more than a quarter of their value. Period to increase minimum wages has to be done on time and promptly.

 Most of the people against the increase in minimum wage claim that it is not effective enough in reducing rates of poverty around the world. For instance in Canada, people earning a minimum wage can afford homes and live comfortably (Gindling, 2018). Also, most of the people earning a minimum wage are teenagers who do not have numerous responsibilities at their disposal. Thus, policymakers claim that people earning a minimum wage have more than one option. For instance, people working a low minimum wage job need skills. However, researchers and economists claim that most business enterprises can increase the minimum wages even if it means decreasing the hiring rates.

 In summary, increasing the minimum wages would increase the economic activities of a certain nation hence triggering job development. Increasing the minimum wage would naturally inject billions of dollars into the economy hence generating more jobs in less than three years. Economists have confirmed that average domestic expenditure would improve gross domestic production due to more expenditure in the food industrial sector. Opponents usually rise in minimum wages would reduce the workforce of most companies as they cut on expenditure hence higher rates of unemployment. However, the government has to put up policies that force companies to increase minimum wages based on their earnings and taxes.

 References

Gindling, T. H. (2018). Does increasing the minimum wage reduce poverty in developing countries?. IZA World of Labor.

Hill, H. D., & Romich, J. (2018). How Will Higher Minimum Wages Affect Family Life and Children's Well‐Being?. Child development perspectives, 12(2), 109-114.

Lordan, G., & Neumark, D. (2018). People versus machines: The impact of minimum wages on automatable jobs. Labour Economics, 52, 40-53.

Neumark, D., & Wascher, W. (2015). The effects of minimum wages on employment. FRBSF Economic Letter, 2015(37), 1-5.

 Business and Office Etiquette - Inside the Office

Introduction

Business and office etiquette-inside the office means a code of behavior that promotes a positive impression. Positive interactions and effective working relationships are required inside the office. For managers, staff, and employees to be happy at work, to do a better job, increase productivity, and improve teamwork, they must behave in an appropriate manner. The purpose of discussing the business and office etiquette-inside the office is to learn the rules of working or in other words policies that people are expected to follow. A point to note is that managers expect employees to adhere to the acceptable standard, behave in a professional manner, and perform duties in a reasonable manner. However, it is not possible for employees to meet the expectations of an organization that does not have a written code or set of norms. This indicates that etiquette is setting the guidelines that will guide organizational members toward handling problems that raise inside the office. Organizational members should practice good etiquette to promote positive daily interaction inside the office. 

 Odgers (2005) says that rudeness at work is an issue of concern. The University of Michigan conducted research and found that 71% of workers have been treated in an impolite manner within the place of work. The research also found that workers who are treated rudely have low job satisfaction merely because they are not happy and thus they do not do a greater effort to their task (Odgers, 2005).The author points out that rudeness is associated with professional retaliation. This means that when superiors and coworkers are disrespectful toward employees, employees become vulnerable to retaliation such as demotion, salary reduction, and more. This affects employees' well-being as they suffer from depression and anxiety. Thus, it is advisable to use business and office etiquette in the work environment. Fox (2011) adds that business etiquette remains despite the fact that the way of doing business has changed. For example, running a business today is different from running a business 40 years ago. This is because, all business aspects have been impacted by the internet, and they are new marketing methods, communication methods, consumer expectations, and office culture (Fox, 2011).  Despite the difference in these areas, basic good managers have not changed. That said, the etiquette should be redefined to fit the new business environment. This is because, since the internet and computers have changed the business, organizations must also set new rules that will guide the employees on how to use cell phones, laptops, and more (Fox, 2011). Thus, in the 21set century, the workforce needs soft skills to adapt to the dramatic changes in the digital age.

Business and office etiquette 

• Cell phone etiquette

Odgers (2005) says that cell phone etiquette is an issue that is causing trouble in the workplace and specifically in business meetings. To avoid the troubles, organizational members should follow these rules;

• Answer calls promptly- do not wait until the phone rang for long. It should not rung more than three rings.
• Immediately you answer the call, introduce yourself and your business
• While on the call, avoid being distracted by external noise and listen carefully in order to provide quality services
• Transfer the call to the appropriate person for the client to receive an assistant. Ask for permission before making the transfer
• Do not put the caller on hold without explaining the reason
• Say "thank you' when ending  a  call

• Dining out

• Location- if it's inside the office, close the door to avoid disruption from customer
• Arrive at the dining table on time
• Serve the guest first
• Avoid discussing business matters

• Business attire

 Professionalism is not only being able to communicate and having interpersonal skills but it also entails dressing appropriately. This means that managers, staff, and employees should portray a professional image to create a positive reputation (Odgers, 2005). Note that customers look at appearance and behavior and this means that the organizational team should set personal standards that portray a positive image. The American Industry Dress Code Survey reported that senior executives in large businesses wear a suit and tie (Odgers, 2005). The companies report that dressing professionally is associated with high productivity. They also believe that attire can build or spoil the company's reputations, thus, the organizational team should portray a positive public image. To maintain a professional image, organization members should;

• Avoid wearing Pumas and T-shirt unless it is a logo business clothing
• Men should wear a collared shirt and tie or suit and women should wear skirt suits
• Wear smart casual dresses when you are not serving clients or customers especially on weekends.
• The clothes should clean and odor-free
• The administrative manager should indicate the appropriate attire for employees to wear. For example, I was working in an organization where during a business casual, the manager could inform the employees about the attire expected.

 Politeness

 Cultural biases are common in business and inside the office. They hinder members from creating professional relationships and hence they are unable to do business together (Odgers, 2005). While interacting with people from different cultures, it is important to mind your manners. Accept other people's differences and preferences and spend time to study their culture. For example, some cultures use kiss greeting while others use touch. It is important to learn about their culture and maintain their boundaries.

About this topic- Business and Office Etiquette - Inside the Office- an important lesson is that proper etiquette is vital in today's business environment. The business environment has changed dramatically and this means that organizational members must behave professionally to make a positive impression on other members (Fox, 2011). About etiquette, managers, staff, and employees should understand that good manners have enormous benefits to an individual and also to the business. First, when people exhibit good manners they create strong and successful relationships which leads to a collaborative corporate culture (Fox, 2011). For example, I was working in a certain organization where employees had negative gossip, or in other words, they could create groups and talk about personal and sensitive matters of other people. To address this issue, the organization developed etiquette rules that prohibited toxic gossip. Therefore, etiquette is vital and organizational members should behave professionally to promote business growth, enhance impression, and work together in harmony. Another thing that makes business and office etiquette useful is working with an intercultural team. This means that in the office, managers, staff, and employees must use culturally appropriate communication to effectively engage in negotiation (Fox, 2011). For example, I was working in an organization where employees were from different cultures. Employees could face many challenges by working with coworkers with different values and beliefs. To address this problem, the organization creates a cultural etiquette code of behaviors that guide employees on how to deal with workers from different cultures. Everyone was expected to have proper manners and I can attest that by being aware of other people's beliefs and practices, employees increased trust, work relationships, and improved communication. In general, professionalism is important as it the best strategy to develop interpersonal relationships and ensure that the organizations gain a long-lasting reputation. If managers, staff, and employees lack good manners inside the office, the business will collapse due to a lack of motivation and productivity (Fox, 2011). For instance, if organizational members feel disrespected, they will develop stress and poor morale. Thus, organizations should change the business climate by creating the right etiquette that will improve the members' well-being and productivity at work.

 Conclusion

            Business and office etiquette and especially inside the office mean behaving in a professional way. Professional behaviors are achieved by following a set of manners that are established by the organization. Etiquette inside the office promotes mutual respect, improves communication, and customer relationships. For organization members to achieve their goal, they should create a cohesive team, accept other people's differences, respect everyone, be tidy, dress professionally, and follow the rules of phone calls. Another important point to note is that it is the role of the managers to ensure that employees are responsible and accountable for everything they do. That said, employees need a set of behaviors that they should follow. Thus, managers should set a code of conduct so that employees can follow them to benefit the organization. Since it is not possible for every organizational member to have his or her own private office, the organization should create a positive environment where team members interact with peace and harmony.

References

Fox, S. (2011). Business Etiquette For Dummies: 2nd Edition. US: Wiley.

Odgers, P. (2005). Administrative office management: Complete course. Mason, Ohio:

Thomson/South-Western.

 Amazon cloud services

How do your Amazon’s current security policies align against the regulatory requirements?

            Amazon relies on enhanced security and good work ethics to ensure that its security policies are in line with the regulatory requirements that govern the market it operates in. Since the company deals in a wide variety of products, Amazon is legally required to protect the intellectual rights of all the products sold on its site (Kanikathottu, 2020). The company has a moral and legal obligation to ensure that the products sold are not counterfeit but of the highest quality. The state of the products and services sold is crucial as counterfeit products could result in the company losing its license or having some privileges taken away or suspended. Practicing good work ethics ensures that the company’s security policies are in line with the regulatory requirements of the market it operates in.

            The company further relies on enhance security and abide to the standards set by governments to secure customer information while shopping online. This is achieved through the Amazon Web Service (AWS) platform that informs the company’s employees about the measures that have been put in place to offer more security and compliance in the cloud (Amazon, 2020). AWS offers amazon and its clients audit friendly services that meet up to acceptable audit standards in society that create a safe and secure online environment.

            The company further ensures that its clients remain compliant with the laws and regulations that govern the regions the company operates in. customers and organizations that are directly involved with Amazon are guided on how to enhance security to enhance security (Amazon, 2020). Promoting safe use of the internet ensure that all parties involved in the cloud service comply with the laws and provisions stipulated by the relevant authorities and this greatly enhances security online and in the cloud.

How do cloud security policies from a recommended vendor align against regulatory requirements? 

Cloud security policies from recommended vendors align against regulatory requirements through the role they play in the overall security of the organizations they align themselves with. Organizations are required to engage in activities that help to manage vulnerable areas by factors in the environment that may cause problems and resolving the risks before they cause any harm (IGI, 2019). Different organizations test all forms of software to check for weaknesses and other entities that could be introduced by third parties and negatively impact their ability to offer secure services. Since security is enhanced by a company’s vigilance and ability to overcome challenges, preparing for vulnerabilities and resolving them early in advance greatly contributes to an organization’s ability to meet their regulatory requirements.

For amazon, Amazon Web Services give vendors and other users more control over their cloud computing and this makes their working environment more secure and flexible. The AWS data centers ensure that customers’ sensitive information, identity and the devices they use to access the cloud are secure and do not leave the organization vulnerable to attacks through other users and vendors (Buchanan, 2011). It also helps them to comply with security requirements and regulations provided to enhance security on the cloud.

In order to meet regulatory requirements, what additional security measures must Amazon implement when migrating to cloud services?

            Amazon can engage in continuous monitoring when migrating to cloud services as an additional security measure. The cloud is dispersed in nature and rather complex which makes monitoring and logging of activities crucial to maintaining a secure environment (IRMA, 2015). Since compliance verification heavily depends on the organization’s ability to identify how events occur, who is responsible and the steps involved, continuous monitoring helps to enhance accountability (Amazon, 2020). When migrating to cloud services, continuous monitoring will assist in ensuring that all cloud resources are enabled and the appropriate security measures are in place. Continuous monitoring also prompts to engage in security measures that require updates such as re-encrypting logs and encrypting data. It also makes it easier to analyze the effectiveness of the measures put in place to ease the change to cloud services.

            The company should also conduct vulnerability management to ensure that there are no risks that could affect the transition process. The company must conduct adequate research and assess its environment in order to identify possible risks that could come about during the transition to cloud services. When third parties are involved in the process, the company should ensure that the third parties also take enough precautions to protect any sensitive information shared in the process. New technology and devices used during the transition should also be tested to avoid introducing any vulnerabilities through the hardware and software used to make the shift to clod services.

            Migrating to cloud services should also prompt the company to train its employees on how to enhance security. Since cloud services will alter how employees go about performing duties, training will ensure that employees are aware of what procedures to follow and how to maintain a secure working environment. The training should also draw attention to areas that pose the greatest risk to security so as to inform employees on the need to take more precautions in such environments. The training will go a long way in enhancing the sustainability of the processes introduced because the responsibility to maintain a secure environment will fall to the employees.

References

Amazon, (2020) “About Amazon” https://www.amazon.com/

Buchanan J, (2015) “Cloud computing: 4 tips for regulatory compliance” CIO retrieved from,             https://www.cio.com/article/2405607/cloud-computing--4-tips-for-regulatory-        compliance.html

Kanikathottu H, (2020). AWS security cookbook; practical solutions for managing security          policies, monitoring, auditing, and compliance with AWS.  PACKT Publishing.

IGI Global, (2019) “Cloud security: Concepts, methodologies, tools, and applications”. Hershey,             Pennsylvania 

Information Resources Management Association, (2015) Cloud technology: Concepts,     methodologies, tools, and applications. Hershey PA, USA Information Science