Customer Relationship Management Business Dilemma Marketing Essay

Customer Relationship Management Business Dilemma Marketing Essay The most influential person in cafà © or in any business are the customers, since without customers, one does not have a business. Everything in a business environment revolves round customers. Similarly, in case of our cafà ©, customers are a key to a successful business at the end of the day. Knowing your customers and providing satisfaction to those customers would gain customer loyalty. Grandfather gave priority to customers thats why he knew all his customers. However, just knowing your customers is not enough; one needs to keep a record of its customers so that its easy to analyze. Since customers are really influential towards a business, business (in our case, cafe) should treat each and every customer as if they were the only customer. While serving each customer, one must keep in mind the needs of that particular customer only and should serve in such a way that the service exceeds their expectation. Giving most priority towards customers would enhance customer loyalty an d keep that customer attached to a particular business. Through customers, a business can improve its business as said by Bill Gates Your most unhappy customers are your greatest source of learning. Customer complains in fact is a key to improve the service, for instance, if a customer complains that the way coffee served was not pleasant and did not met the expectation, that complain can be used as a tool to improve the coffee serving process through further training workshops for employees in that area. Thus, customers complain can be seen as a challenge to be met in future to make him/her (customer) happy and attracted to the cafe. If you treat your customers well, your customers will go out of their way to return to you. Therefore, customer feedback and suggestion can help improve a service. However, the cafà © may not have answers or response for all of customer questions and suggestions. Customers could help or hurt the cafe through viral marketing. Word of mouth marketing is the largest determining factor for a service business image, which can be either online chatting or physical talk. If the service in cafà © is up to the expectation of the customer, it would help the cafà © to attract more customers through viral marketing and gain market share. However, if the products and service in cafà © is very poor which made the customer unhappy can spread negative impression on other customers, hurting the company through losing its current and potential customers. Moreover, online comment or complain on the cafes website can be injurious such as comment on You Tube. Literally, the customer does not intend to harm or hurt the company; they just want their needs to be fulfilled and service is up to their expectation. As already mentioned customer complains can provide an opportunity, thereby, helping the cafà © to improve its service. My employees will agree that customers are the most important part of cafe since thats the reason they are in cafe. If there wouldnt be any customer, there wouldnt be need for employees. Thus, customers determine or secure the period of employment of the employee. If there are fewer customers, employees may be laid off to cut down costs. However, some employees may feel that they are the most important part in a business. Employees are the most important asset of any business. If cafà © doesnt value its staff, it would demoralize them which can impact their performance in service. And as a result, their poor performance can hinder customer growth of cafà ©. Thus, some employees value themselves as the most valuable person in a business when compared to customers. MAKING BUSINESS DECISION I Virtual world is a 3D, electronically-generated environment where users can interact, create and communicate just as they would in the real world for example, second life (http://ictwm.org/news/virtual-worlds-help-real-businesses). Virtual world provides people with experiences rather than processing transaction. Once people get attached to virtual experience, they would be excited about experiencing it in real life. This would only be possible through going to the real cafà © which would help the business in transaction processing. It also aids in mass customization as customers design or suggest what they exactly want. Virtual world encourage interaction, collaboration and communication. It can be accessed from anywhere in the world, thus, keeping people and cafà © connected. If cafà © provides continuous updates in virtual world, people nearby the cafà © would go for new and innovative products in that cafà © just because of that cafes presence in virtual world which would enhance the business/cafà © operations. It could also be a marketing tool for the cafe to promote its menus for the day through frequently changing attractive ads in the virtual world. Customer relationship in virtual world is very delicate matters since one does not physically meet to create impression. Virtual world should be designed in such a way that it is appealing and attractive to a customer. In virtual world, cafe business would be better able to meet customer satisfaction with minimum or no cost by changing designs to strengthen virtual customer relationship. Customer wont need to wait in long lines to be served, one can just go to the cafes website and get the taste of coffee or of service in that cafà ©. Virtual world does not restrict the access to any person; any person can access to the website to have a taste. In other words, there is a greater reach and contact to maintain strong customer relationship. Cafà © can be always available to its customer through virtual world without any disruption. Customers would be in a position to demand what they want based on their own specification. This makes the customer feel like king through providing their customized products and enhancing better customer relationship. In traditional customer relationship management strategies, there has been lack of customer experience, co-creation, co-production and collaboration with customers. Thus, our strategy to manage customer in new virtual world is through co-creation and co-production with customers. Co-creation and co-production with customers is different than traditional customer-centric approaches in that the focus is not to learn as much as possible about customers but instead consider them as equal problem solvers (http://findarticles.com/p/articles/mi_hb5858/is_200711/ai_n32252899/pg_2/). Giving customers an important role in the value chain can affect customer satisfaction. Value in co-creation derived by customers purposeful interaction cannot be obtained merely from asking the customers to answer questions and leave comments. Virtual worlds may provide an experience space that supports experience networks which go beyond the domain of a single company and its suppliers to one that is experience -centric to the customers. (http://findarticles.com/p/articles/mi_hb5858/is_200711/ai_n32252899/pg_3) Moreover, since there is a growing use of internet, it would be easier for company to collaborate with its customers through electronic CRM. Electronic CRM has a wider scope for managing customer relationship in a variety of ways and not just collaboration ranging from designing and pricing of digital products to loyalty programs. Supporting Second Life customers differs from supporting website customers as well as traditional customers. In second life, cafà © can design and create those products and services that a particular customer wants. It allows basically for customization as well as reaching out to customers for ideas, prototyping and feedback in a particular area giving cafà © a better competitive advantage. This means that customer support in second life would need to be met in real time especially to a customers demand. Second life is basically everything being electronic whereas traditional revolves around physical presence. Moreover, collaboration between customers and company is a major support in second life unlike traditional customers. Website supports customers with visitor information and product review. It does not allow a customer to get the feeling of being in cafà ©. However, second life gives a customer a virtual feel of being part of that cafà © in addition to visitor information. To make the experience of a virtual world customer great, second life location should offer free virtual coff ee, music, and chairs with tables for customers to hang out. In the traditional (physical) environment, the cafà © needed to be closed off at a particular time, even though customers were involved in deep discussion. This does not happen in second life. Second life supports customers to continue with whatever they are doing in the virtual cafà © without any time limit and can chat as late as they want. Furthermore, upcoming events, artwork and music should be available to customers visiting second life so that it becomes interesting and encourages them to explore the site. Another difference between traditional and second life customer support is in terms of advertising. In past, business would use advertising agency to promote their products but now the cafà © can do in house advertising in virtual world attracting wider range of customers all round the world. Second life does not provide authentication of a persons identity. There is no access control and anyone can easily get into the second life and if there is any confidential information for customers only, that can be easily leaked and used to the disadvantage of the business, that is, the cafà ©. Moreover, phishing can easily take place whereby an intruder who is against the cafà © business can create a website similar to the cafà © site and trick the customers into inputting confidential data. This confidential information can be used as a tool to harm the image of the cafà © through missing the customers information which would tremendously impact on the cafà © business. Similarly, misrepresentation can be another issue just like phishing, whereby someone designs an avatar that looks just like the avatar of a customer service representative. Other issue involves the obsolesce of real life location. Since people get attached to second life, they dont go or visit the real life cafà ©. Second life cafà © can be visited by anyone but real world cafà © may not be. People in a region would only be visiting the cafà © and if those limited people get attached to second life cafà ©, there wont be much importance of real life cafà ©. Thus, issue arises that second life should be positioned and designed in such a way that real life cafà © does not get obsolete and people remain attracted to it as well to have real currency flow in business. Due to lack of authentication, privacy concerns arise. Maintaining customer confidentiality becomes an ethical issue and a challenge for businesses. MAKING BUSINESS DECISION II You Tube can be an important vehicle to communicate with the cafes customers. It is a popular free video sharing website where people can also comment on a particular video. We would design and create video clips of the cafes products and the way service is provided in cafà © and then share it on You Tube, using cartoon characters and other imaginary characters making the clip funny, interesting and informative. Through these clips, we can conveniently show our customers how we have minimized the problem of long wait lines. Firstly, we would make clips showing more counters for serving as well as drive in windows. Long wait lines are basically because of few or only one counter, thus showing a clip with more counters can be seen as a reasonable rectification to the problem. Moreover, for travelers who want to be served instantly while in their vehicle, drive in windows would be a solution to avoid waiting in lines when in rush as in case of McDonalds in Fiji. Clip can show a custome r ordering and being served in just few seconds through drive in windows. Furthermore, online ordering and tele-ordering can also be a rectification to long waiting lines. Through virtual world or cafes website, customers can order online as well as through phone calls before actually going to cafà © so that on their arrival, their order is prepared and no waiting is required. These solutions can be depicted on You Tube through videos using animated characters. You Tube as a communication vehicle, is free and easy to use. Unlike advertising over television, which is associated with costs, You Tube provides this for free whereby anyone can watch the videos and pass comments about how they feel about that particular video. As already said, it saves money on marketing since advertising can be done through clips to promote the cafà ©. You Tube has a wider reach in terms of customers and markets. It is not restricted to a particular geographical region or location. Customers all around the world and in different market can get access to You Tube and learn about the cafà ©. Also through You Tube, cafà © can get a great deal of information to many people in a short amount of time just through one clip. These benefits show that You Tube can be an efficient communication vehicle for any business whether it be cafà © or a car dealer. However, there are various disadvantages for You Tube as well. Since it can be viewed by anyone in the world, it may capture unwanted attention, for instance, is a person does not love coffee, he/she may not like the clip based on coffee and would comment negatively which would create bad impression to other customers. You Tube also in some cases compresses the content of clips and other files, making it unappealing to customers as its not presented in the right way intended and information can be chopped in that compression. Products may not be clear to customers, thus, proper communication of that product such as coffee maybe hindered. Also due to missing information or half information, it could become difficult to understand what the file tries to reveal to customers. Issues of privacy concern and copyright infringement can be cons of You Tube. Privacy can be made vulnerable as amount of information on video can be dangerous such as unintentionally showing where an employee lives or showing someones bio-data while promoting the product or service. Therefore, before starting to use You Tube as a medium of communication vehicle, one must clearly study the pros and cons of it to see whether benefits are there or not. Other new technologies that can be used as a customer communication vehicle that would be more effective than You Tube are social networking sites such as twitter and facebook. It allows more than just posting video. One can post comments, pictures, update information and create events on it. Twitter and facebook help bringing customers together. With help of twitter, cafe can send an alert about new deals or offers in the cafà ©. Blogging can also be a publishing medium. If a customer complements the cafes service or the products and food in cafà © in his blog, it would be a free advertising for the cafà ©. But can also harm the image if blogger comments in a negative way. APPLY YOUR KNOWLEDGE To obtain high quality data, systems in the cafà © must be integrated, since quality information does make a difference in any business. Major importance of quality information is that it induces enhanced, accurate and appropriate decision making. The quality of information used to make business decision determines the quality of decision made. Having real time system in cafà © would provide real time information in response to decision makers queries and requests. High quality decisions can significantly impact the cafes bottom line, thus, profitability. For instance, having integrated and real time system, cafà © can provide what customer wants in an instance which would meet customer satisfaction, thus, improve profitability. Moreover, high quality information enables any business to track valuable customers who generate most revenues. Having proper information about a particular customer visiting cafà © frequently can help cafà © identify the loyal customer and could reward him or her so that they keep coming in future. Uses can place confidence on information of high quality since it is reliable. For instance, if cafà © post on its website information generated from its systems, customers could be easily in a position to rely on it. On the other hand, low quality information results in various business effects. Low quality information are those which has missing information example no first name of customer, incomplete information example no street or missing area code, probable duplicate information such as similar name, same address or phone number and potentially wrong information. The effects of this on cafes business would be its inability to accurately track customers, difficulty identifying valuable customers, inability to identify selling opportunities of cafes product, marketing to non-existent customers, difficulty tracking revenue and inability to build strong customer relationship (net: slides). Low quality information would hinder cafà © to follow up with its profitable customers who frequently such as daily visit cafà © since there may be name confusion. Also if systems are not integrated, it becomes difficult to provide accurately what customer wants and may lead to providing wrong products. Thi s will affect the demand and supply of a particular product which would not be reliable. Also cafà © may be marketing and promoting its cafà © and product to a non-existent customer online due to fake or same names who are not cafes usual customers. Overall, low quality information vigorously degrades the decision making quality in managing a customer and the cafà ©. The examples of information that can be used by The Broadway Cafà © to gain better understanding of its customers are customers taste and preferences. If the cafà © gets a picture of what their current and potential customers would like to consume, cafà © can be prepared for the product and provide the customer that product when they actually came and demand. Moreover, having a brief idea about the customers disposable income would help understand the affordability of prices by customers. This would give the cafà © a view as to what prices customers would be willing to pay for the cafes products such as coffee. Changes in environment and weather would also help in getting to know the customers and their wants, for instance, coffee would be largely demanded during colder seasons in Fiji. Some of the data quality issues are as follows. Firstly, dirty data issues due to data errors which can be attributed to human errors or an application error due to legacy systems. Since theres a large quantity of data to be fed in the system, humans are prone to make errors. Missing and duplicate data are other two issues (Turban, E., and Volonino, L., 2009). The cafà © lacks in proper management of its data which can lead the data to be easily lost as well as to be entered twice. This could really affect the output results thus affecting decision making. Moreover, data can be non-standardized and massed up due to lack of standards. The strategies the company can use to avoid such data quality issues are to implement Master Data Management system. It is comprises a set of processes and tools that consistently defines and manages the non-transactional data entities of an organization. MDM has the objective of providing processes for collecting, aggregating, matching, consolidating, quality-assuring, persisting and distributing such data throughout an organization to ensure consistency and control in the ongoing maintenance and application use of this information. (http://en.wikipedia.org/wiki/Master_data_management) MDM would reduce or eliminate the data quality issues, giving a unified view of enterprise data. It can also use automated data entry, Web forms for individual entering data with data integrity checks and drop down menus and radio buttons. (Turban, E., and Volonino, L., 2009) having frequent data audits in the system can also aid in preventing the above mentioned issues since data would be continuously reviewed and any errors would be detected and corrected appropriately without further problems in future. CAFES BEST CUSTOMERS** Customer ID Total Sales Amount ($) 3548 18,261.86 4438 26,474.28 5657 11,342.98 6891 10,585.94 13801 33,555.50 13959 19,593.65 270177 14,355.99 294896 11,348.40 305668 49,647.45 540135 16,338.02 1309948 11,401.60 ** We have assumed that the cafes best customers are the ones that bring in sales amount dollars of more than $10000. Listed above are the cafes best customers. The cafà © should offer to its valuable customers loyalty marketing programs such as point programs whereby a customer would get points for every purchase they make and when they reach a certain level and collected enough points, will get a special reward such as Jacks of Fiji which is using this marketing system to keep their loyal customers attached. Moreover, the cafà © can give its valuable customers loyalty cards as MH in Fiji is dong with its flash and gain card. Providing customers with promotional vouchers would also give them a feeling of appreciation for their service. Keeping in touch strategy can also be a way of marketing campaign towards valuable customers. Giving personal attention towards the profitable customers is a way to build relationship and keep them in your business. This can be done by sending them promotional messages personally through email or calls frequently and asking for their feedbacks as to what they would like in future and their expectation from cafà ©. Broadway Cafe Question Name Total What is the best selling product? Music CD $776,813.17 What is the worst selling product? Kids CD $96 What is the best sales month? 3 $569,339.10 What is the worst sales month? 5 $58,501.06 What is the best selling product during the best month? Music CD $235,054.45 What is the worst selling product during the best month? Kids CD $64 What is the best selling product during the worst month? Music CD $33,684.43 What is the worst selling product during the worst month? Food $63.2 * For answering the above questions, we have taken our base as sales amount values to reach an answer. SUPPLY CHAIN MANAGEMENT BUSINESS DILEMMA Broadway Cafà © can reinvent the cafà © by making use of demand planning software. This software would enable the cafà © to be prepared in peak hours of business since it would capture and give information as and when a customer enters either the cafà © or the car park of the cafà ©. For instance, as part of software set, a camera can be attached at the roof of the cafà © to capture information on people entering the car park and determine what they would normally order at that particular time of the day. Also, it would allow the cafà © to keep track of its regular customers and their demands, thus, have the items available for them without having them wait in lines. This can be done before a customer enters the cafà ©. The software would also enable in ensuring whether the cafà © has enough of the products that that would be demanded by the customer such as a particular type of coffee. Although the implementation of such a software would be costly at its initial stage, it w ould be beneficial for cafà © in future as it is located in Suva, to obtain customer satisfaction and where people are always in rush. Thus, demand planning software would be a great benefit for the cafà ©. Like Netflix, we would not see cafà © becoming a supplier in another business supply such as hotel industry since our cafà © itself is very small at this stage. First, it needs to widen its customer base with the help of demand planning software and online ordering system (electronic ordering). Since our cafà © has a website, we could include in that a feature where customers order online, paying through credit cards or paying subscription fee for being in that account. The cafà © can based on customers order deliver the items to the customer within the Suva area if large quantities are ordered such as Pizza King which delivers pizza to people living in urban and suburban areas. Moreover, a customer would also order online so that before their arrival in cafà ©, the items are prepared for them before hand such as coffee. Thus, innovating ordering system would also attract more customers in the cafà ©. With the help of these supply chain technologies, the cafà © can expand its customer base and from there on can think bigger and better options such as becoming supplier of coffee/coffee beans to hotels or other businesses such as MacDonald. MAKING BUSINESS DECISION I The success of any business depends on its ability of short and long term planning. As a concerned business operator, I would always maintain some inventory in my warehouse for such unexpected events especially coffee beans which are in demand. Since not being able to meet customer demand would lead to losing out customers. Thus, our cafà © would keep with its operation regardless of disruption in supply chain du to dockworkers strike and would run on warehouse inventory (Brazil Beans, China Tea and custom Coffee press machines). Moreover, based on available inventory analysis in the warehouse, we would determine how long supply would last. Is our warehouse inventory wouldnt be able to meet up with the disruption period, we would resort to redundant suppliers since all suppliers wont be affected at once with the same problem. We would consider our temporary local suppliers such as Nestle to supply us with similar products as long as we are able to operate efficiently, although the cost in emergency need may be higher than usual price paid to our fixed suppliers. Since the cafà © has been going towards demand-driven manufacturing, Radio Frequency Identification Technologies (RFIT) would be the newest and most efficient solution to supply chain problems. RFIT is the most valuable technology to track inventory. If inventory level in any case would be low, it would trigger automatic alert to our suppliers. It is an important device in global transportation both land and sea. It ensures that inventory level are checked and replenished on need by need basis. Although this strategy would be bit costly for the cafà © in the initial stage at present, it would provide benefits in the future. Another strategy I would recommend is to create a position as freight specialist whose job would be to enable transportation of products in whatever the situation maybe and at any cost. The freight specialist would guarantee that products would reach the cafà © on time to meet customer demand and if not than they would be responsible for the loss. MAKING BUSINESS DECISION II Broadway cafà © No move Broadway Cafà © Units sold per month: 20,000 Unit variable costs: $0.50 Average unit sales price: $2.20 Current fixed costs: $5,000 Added lease payment, new offices: $2,500 Projected fixed costs: $7,500 Sales month Units Sales Fixed Costs Variable Costs EBIT January 6,582 $14,480 $5,000 $3,291 $6,189 February 11,121 $24,466 $5,000 $5,561 $13,906 March 14,178 $31,192 $5,000 $7,089 $19,103 April 13,692 $30,122 $5,000 $6,846 $18,276 May 11,597 $25,513 $5,000 $5,799 $14,715 June 9,599 $21,118 $5,000 $4,800 $11,318 July 9,913 $21,809 $5,000 $4,957 $11,852 August 10,926 $24,037 $5,000 $5,463 $13,574 September 14,349 $31,568 $5,000 $7,175 $19,393 October 12,965 $28,523 $5,000 $6,483 $17,041 November 6,972 $15,338 $5,000 $3,486 $6,852 December 2,455 $5,401 $5,000 $1,228 ($827) Sum $151,393 Broadway cafà © Move Broadway Cafà © Units sold per month: 20,000 Unit variable costs: $0.30 Average unit sales price: $2.20 Projected fixed costs: $7,500 Sales month Units Sales Fixed Costs Variable Costs EBIT January 6,582 $14,480 $7,500 $1,975 $5,006 February 11,121 $24,466 $7,500 $3,336 $13,630 March 14,178 $31,192 $7,500 $4,253 $19,438 April 13,692 $30,122 $7,500 $4,108 $18,515 May 11,597 $25,513 $7,500 $3,479 $14,534 June 9,599 $21,118 $7,500 $2,880 $10,738 July 9,913 $21,809 $7,500 $2,974 $11,335 August 10,926 $24,037 $7,500 $3,278 $13,259 September 14,349 $31,568 $7,500 $4,305 $19,763 October 12,965 $28,523 $7,500 $3,890 $17,134 November 6,972 $15,338 $7,500 $2,092 $5,747 December 2,455 $5,401 $7,500 $737 ($2,836) Sum: $146,263 APPLY YOUR KNOWLEDGE Broadway Cafà © Shipping Analysis Number to ship from DC to Roasting Plants: DCs Total Salt Lake Chicago Albeq <

Evaluate the External Corporate Communications of an Existing Product or Service

Evaluate the external corporate communications of an existing product or service Types of external corporate communications Write down the meaning of each and give examples Related to CWOA * Advertising – Advertising is a way to inform in a way of notice or announcement to the public or businesses about promotions, services and products. Other can be information about upcoming events or a massive sale. Advertisement can be informed through TV, leaflets and Radio. CWOA inform their customers about new events taking place via Television advertisement as well as posters on public transport vehicles and on their websites.Their recent service is the Zufari which is a bit like a safari but at the CWOA location. CWOA will inform families and their loyal customers about this new and exciting service that they will start providing over the Easter Holidays through TV advertisement, leaflets and their website. * Packaging – Packaging is a process to which business follow in order to protect their products from damages and ensure the product is safe and clean which stays fresh. Packaging sells a product more effectively for a business that it would without it.Customers feel more confident when purchasing products because they know that the product is safe, clean, and best of all brand new. Packaging mostly is process by plastic but can be corrugated board as well as metal glass and paper. CWOA have their souvenir shops that have products all packaged with good aesthetics. They are packaged in clear plastic bags. For example their T-shirts will have the CWOA logo and will be in a clear plastic package for the customer to see and handle properly whilst the t-shirt also being protected from dirt. Logos – Logos are a form of identify to differentiate a business from its competitors. It helps consumers recognise all types of businesses and therefore competition rises as well. If one logo is better than another either because of the way its name is or the st yle, it makes a lot of difference to the sales and profits of a business. For example the Armani logo is very famous and therefore has expansive products. On the other hand, George a clothing line that sells at retails of Tesco is not as popular, however their products are very cheap but may not live up to its expectations of high quality.CWOA have a recognisable logo that is easy to read and understand globally. It is very attractive logo that has been designed for years that consumers instantly recognise the great quality experience at the attractions. * Methods – There are different types of methods to communicate with the outside or external of the business such as the public to inform of new products and sales and or publish sales figures on the internet which has to be met by law. There are methods to inform people of their new products to ensure they are attracted to it and its value by its price.CWOA are currently launching their new service called Zufari which is a f amily adventure that looks at all the different kinds of animal in the same theme of a Safari. CWOA will use methods to attract their customers to its new service. On their website they would use large, bold and colourful colours to attract readers, pictures to engage their mind and theme styles that relate to animals. Pricing methods to attract them to purchase and book online which may be a cheaper alternative such as a family deal of 4 with 20% off before a certain date. Mission Statements –Mission statements are a summary of the aims and values of a company, organization, or individual. It is a statement of their core purpose and focus that doesn’t change for a very long time. These statements can be found on any organisation website. The mission statement for CWOA can be found on their Merlin entertainment group website as well. ‘Its aim is to deliver unique, memorable and rewarding experiences to millions of visitors across its growing estate’. Missi on statements underline the purpose of the business.It gives them a direction and its customers as external commuters to see what the business’s aims is that relate to the customer. Missions statements shows customers how passionate a business is for thriving in success and in favour of the consumer with excellent services that is promised to be provided to each and every customer. However if CWOA don’t reach their goals then this can question CWIA’s abilities in proving the great customer experience they promised. This can affect their brand and its reputation. Livery –Livery is a way to distinguish colour and, style and theme to their customers from other companies. CWOA do this to many of their souvenir products so that customers are reminded of how much great fun they had from their experience at the attraction. This may ‘re-awake’ their senses and encourage them to go back to experience the same fun they had on their last visit. The live ry on their products can be of their colour schemes or logo for example a teddy bear would have a logo on the shirt and a red and yellow colour background of the hirt to represent its home as CWOA. However a livery can be somewhat of a disadvantage to the business. CWOA may change their logo style, theme and or colour scheme as well as the whole logo design due to change in leadership, partnership and or takeover by another firm. This will mean that CWOA may have to change all their designs on their souvenirs as well as their products. High costs can result of this action. If logo and design is changed then customers may not be able to recognise the brand as well as they did with the first logo design.Memories of great fun and experience may not be the same when looking at a different style logo. * Strap Lines, – Strap line is another way of saying a slogan that is a method to catch a reader’s attention and persuade them to buy their product or service. An example of a strap line used by CWOA for their new service called Zufari ‘Ride into Africa’. Slogans are a way of saying something is alike and the experience will be of a replica. The same goes to CWOA of their new service which will offer a similar real Safari experience. This kind of slogan attracts customers to visit the attraction.Some strap lines may not be appropriate for come consumers so business need to be careful of the way they use the strap lines. A good strap line is Tesco’s ‘Every Little Helps’. This is because Tesco is a large firm with products at very cheap prices and also competitive. It is a way of saying every little saving helps make larger saving on other things. It also outlines Tesco’s objectives of cheaper products than their competitors. * Endorsements – An endorsement is an approval, from a third party or an important person, of a service or product is a way of support and or a recommendation of the business’s pro ducts and or services.Endorsements work like an advertisement except it is less of a persuasion and more of a personal recommendation. If CWOA asked Jonathan Ross to endorse their attraction along with his family then that would make CWOA’s reputation high. Families would want to go to CWOA simply because a famous person has visited that attraction which to them can mean that the attraction is worth going to because of higher status of approval. Endorsements generally are an excellent method to increase sales fast. The endorser of CWOA, which could be Jonathan Ross, receives a fee or payment of endorsing the brand and material.Endorsing a famous or well-known person like a celebrity is not cheap; many of them demand high fees. People will believe an outside person that they know, which they can relate to; about a business that they are not related to such as Jonathan Ross is a TV presenter of his own family show. * Sponsorship – Sponsorships are increasingly getting bi gger and better. Organisations and events can run with the help of sponsorship. It is more of a promotional activity which is a form of corporate communication.Sponsorships work like this; an organisation supports an activity, event or another organisation by giving them money and or other valuable recourses which may relate to them and in return they may want advertisement on space on their boards or area of event. And if it is another organisation than it generally requires advertisements space. An example of this is a football team such as Arsenal Football that has been sponsored by Fly Emirates which is an international airline service and has their logo on the Arsenal jersey and on around their stadiums.CWOA are sponsored by many organisations such as EDF energy, Cornetto, MasterCard, Nintendo Wii and other smaller companies. In return CWOA puts their logos on their website, event leaflets and on their rides. Advertisements of Chessington World of Adventures Chessington World o f Adventure has produced a TV advertisement of their Halloween special event taking place during the Half term. The event is called Halloween Hocus-pocus. The video is on the CWOA’s website and on TV 2 weeks before the actual event taking place. TV is a good way for advertisement because the message gets across to a wider audience.TV advertisements are better effective because they are memorable, especially to children, because they use sound and colourful vision. This video was due for half term of October 2012. Presentation methods: Presentation methods to meet the needs of the customer – how the use of style and use of images, use of language are all targeted at specific customer groups TV is watched by many people at home and during the evenings when the family are all together at tea time, there are many family type advertisements that go on at that time of period.TV is colourful with lots of sounds to engage the listener. CWOA have a dark Halloween theme that rel ates to their event. The dark theme uses darker colours, images of moons, witches, animals, people in costumes that look surreal, decorated hotel rooms and the theme park is set during the night. With many muted colours and flashing images along with multi images of animals and witches and monsters, it grabs a lot of the audience’s attention who are sitting in the comfort of their own home.Images that are suitable for all audiences are the best to gain all target consumers. TV advertisement shows good quality images, as most families now have access to HD TVs that enable higher quality videos and images. The styles of texts they have used are very bold and gothic. The sound track has been adapted to a dark and scary theme with a few spooky laughter sound and tense tones. There are also animal sounds, such as bats and owls. Sounds like these engage the audiences well and interact with their hearing senses.In the video are also a few animated clips that have been integrated wit h real life videos of the resort. These animated clips are of Halloween characters such as witches and monsters. The videos of the resort show some of their special Halloween plays and events along with new rides. Some animals are shown to show those audiences that know very little about COWA. The events show examples of Halloween parties, dress up, plays and characters in play whilst hosting families around their resort experience.The advertisement is a good quality however I believe that the video could have been more informative rather than just showing clips of rides, animals and people in costumes. The vieo could have informed parents of ticket prices, were to look for further information details, special offers and the exact events and new features of this Halloween special and what makes it special than an ordinary day at CWOA. The clip does engage the younger audiences to carry on watching the clip and still be interested. picture/advertisement video source from: http://www. chessington. com/plan-your-trip/chessington-videos. aspx#content

Link between Higher Minimum Wage and Higher Unemployment

In theory when an increase in minimum wage increases the cost of low-wage workers firms should want to hire less workers, however in reality this basic theory might be wrong according to Plumer B. (2013) While some studies found a link between higher minimum wage and higher unemployment level many others such as a recent paper from U.C. Berkeley that exploited differences across state borders did not find a link between higher minimum wage and higher unemployment. A study by John Schmitt of the Center for Economic and Policy Research explores the other possible reasons a modest increase in the minimum wage may not significantly impact employment levels. According to his study instead of hiring less workers the labor markets can respond in†¦show more content†¦Using this approach causes a substitution effect, because the firms increases the use of capital (robots) and decreases the use of labor. However, in order for the employer to use this approach they must firstly have the financial resources to adjust their operations. Companies can raise their prices in response. – This method is the most common method used by employers. The extra cost for labor is passed on to customers in the form of higher prices. This method, however should only be used if the demand for the product or service is highly inelastic and there are no readily available substitute for that product or service. Companies can just settle for fewer profits by absorbing the increase cost of their current labor supply instead of dismissing workers. This is one method might be the least popular method and the least used by firms. Using this approach decreases the company’s net profit. This method should only be used by firms in a strong financial position and there is no other approach that can be used. Workers can respond by voluntarily working harder. – Legislated increases in the minimum wage improves workers morale thereby increasing their productivity. The increase in productivity helps balance off the increase in labor cost. An increased wage rate causes an income and substitute effect. Income effect causes the worker to work fewer hours now that their income increased. Substitution effect causes the worker to work more hours. Companies can save onShow MoreRelatedMinimum Wage And Its Effect On The Economy1015 Words   |  5 Pagesthe unemployment rate. The increasing of unemployment rate is caused by some reasons, and one of the problem that causes the high unemployment rate is the issue of minimum wage. Depending on the states in U.S., the price of minimum wage is different, but the low minimum wage may cause the economic condition worse. Minimum wage is the lowest wage that an employer is allowed to pay. This wage is regulated by the law, so all workers must follow this rule. According to the book, â€Å"Minimum Wages†, theRead MoreThe Regulation Of Minimum Wage1055 Words   |  5 PagesRegulation of Minimum Wage In today’s society, people face to many serious issues which affect the society both in a positive and negative ways such as increasing the employment rate and increasing the unemployment rate. The increasing of the unemployment rate is caused by some reasons, and one of the problems that causes the high unemployment rate is the issue of the minimum wage. Depending on the states in the U.S., the price of minimum wage is different, but the low minimum wage may cause theRead MoreDispute over Minimun Wage1281 Words   |  6 Pagessuppose the government of our age has broken their social contract. Minimum wage is a disputatious issue because it is contested in an array and discriminatory audience. Minimum wage I believe is the epicenter of the economist’s sphere of interest as he in constantly in hot pursuit in finding its relationship with job loss. President Bill Clinton’s administration proposed in 1993 that it had intentions to have an increase in the minimum wage in America. The liberals applauded the step in good faith whilstRead MoreDifference Between Micro And Macro Economics895 Words   |  4 Pages1. What is the difference between micro and macro economics? Give an example of a microeconomic phenomenon and an example of a macroeconomic one. If you look at the definition of the word micro, some words that come to mind are small and extremely tiny. Therefore, we can look at microeconomics as dealing with small quantities of the whole or specifics. At this end, microeconomics deals with things at an individual level and studies issues such as consumer behavior, individual labor market and supplyRead MoreTwo American Families Essay example1070 Words   |  5 Pagesdetail are minimum wage, health care, the foreclosure crisis, and debt dependency. Minimum Wage The most obvious policy implication affecting both families dramatically is the policy around minimum wage. Minimum wage was first enacted in the 1930’s after the Great Depression when the country realized that putting a floor on the minimum wage was vital to protecting workers, especially those with less desirable jobs. One problem is the federal minimum wage is still a poverty level wage that cannotRead MoreReview Of Bill Moyers s Two American Families 1110 Words   |  5 Pagesfactors that drive those policy implications are minimum wage, health care, the foreclosure crisis, and debt dependency. In this essay, I will go into in more details about those main factors that both two American families suffered from the series of economic depression. The most obvious main factor of policy implication that affects both families dramatically is the policy around minimum wage. According to the documentary, it depicted that minimum wage was first enacted in the 1930’s after the GreatRead MoreShould Minimum Wage Be Increased? Essay963 Words   |  4 Pagesto the reference (Issues Surrounding the Minimum Wage Debate REVISION 2- Bruce D. Philips,NFIB Research Foundation, 11/30/05) increasing the minimum wage hurts low-skill employees. Most economists agree that increasing the minimum wage destroys jobs. This job loss is concentrated on the least skilled employees in the economy. Research from Duke University, the University of Wisconsin, and Michigan State University indicates that increases in the minimum wage hurt low-skill employees. Cornell UniversityRead MoreIndividual Employment Opportunity Act An Employer1587 Words   |  7 Pagesopportunity, minimum wage, overtime pay, and the prevailing wages for federal contractors. U nder the equal employment opportunity act an employer may not base differences in pay on an employee’s age, sex, race, or other protected status. The goal of the equal employment opportunity is for employers to provide â€Å"equal pay for equal work.† Employers must also pay their employees at least the minimum wage. The federal and state both have a minimum wage requirement and a company must pay the higher of the twoRead MoreIs A Living Wage? And How Does It Impact On Employee Motivation And Business? Essay1042 Words   |  5 PagesIntroduction What is a living wage? And how does it impact on employee motivation and business. It is easy to confuse a living wage with minimum wage which is set by law. Some people work to live and others live to work. Living Wage Aotearoa New Zealand launched a campaign in 2012 in Auckland and Wellington where supporting organisations collectively agreed that a living wage is the income employees and their families need for provision of the basic necessities of life. A living wage enables employees toRead MoreMinimum Wage Laws For The United States Essay1742 Words   |  7 PagesThe minimum wage is the mandated price floor paid on hourly or daily basis for the employees regulated by the government or the union. In â€Å"Federal Minimum Wage†, New Zealand and Australia enacted the first minimum wage law during the late 19th century to prevent employers’ exploitation of workers. In 1912, Massachusetts passed the first minimum wage legislation in the US that was enforced for women and children, and fifteen more states followed in the next eleven years. However, the Supreme Court

Background And Positivism Theories Of Law - 1399 Words

Background and Positivism Given his background of being a legal positivist, MacCormick appears to have developed his overarching positivist schema from Hart. This is evidenced by parallels between their respective theories of law. MacCormick’s informal normative order, as depicted in the example of queuing, is activity organised around a common normative opinion. This common normative opinion is a general sense among the relevant population that there are particular patterns of behaviour that everyone ought to follow. This is similar to Hart’s social rule which is a pattern of conduct that a relevant group participates in from the internal point of view. To participate in a pattern of conduct from the internal point of view is to treat†¦show more content†¦On the knowledge that Hart’s complex of social rules and MacCormick’s informal normative order both define their respective legal systems, we move on to address the resemblances between Hart’s unions of primary a nd secondary rules and MacCormick’s institutional normative order. Hart describes secondary rules as a complex of social rules and primary rules as rules of conduct which are regulated by secondary rules. On the other hand, MacCormick’s institutional normative order also constitutes two elements that parallel Hart’s primary and secondary rules. The first element is rules which are explicitly articulated norms and this runs parallel to Hart’s primary rules. The second element is informal normative orders which are rule- defining, these are similar to Hart’s secondary rules. The slight difference between Hart’s social rules and MacCormick’s informal normative order can potentially lead to important differences in their theories of law. The underlying idea of MacCormick’s legal system’s rule-defining informal normative order then becomes the ultimate determinant of what is and is not law. Without the requirement for an underlying idea, Hart will most likely disagree with MacCormick about what is and is not law, setting apart their theories. Immoral law cannot be law Despite his overarching positivist viewpoints as influenced by Hart, MacCormick is a self-proclaimed post-positivist who regards a central positivist