Demand Estimation Regression Analysis Essay Example

Demand Estimation: Regression Analysis Paper Demand Estimation: Regression Analysis, Elasticity, Forecasting Decisions Angel 991 Introduction It would be impossible for any business to survive if there were no demand for their product. Therefore, one of the most important attributes of managerial economics Is demand estimation. Demand estimation Is an Important tool because It helps the managers to estimate demand using a scientific method known as Econometrics. It is essential for a manager to be able to determine the appropriate variables of demand function, according to the textbook, Managerial Economics Applications: Strategies and Tactics, by James Michigan, R. Charles Moyer and Frederick Harris (2014), Effective decision making eventually requires the quantitative measurement of economic relationships (p. 100). Thus, when the variables of demand function are understood, it will be easier for management to make forecasting decisions with fewer errors. In this paper, demand estimation will be done through a regression analysis. This analysis will examine the elements that management should look at when determining demand for a product such as: price, competitors price, customer income, advertising and the cost of microwave ovens. When price elasticity of demand s elastic, the company should lower prices. When price elasticity of demand is inelastic, the firm should increase prices. When price elasticity of demand is unit elastic, changing the price will not change total revenue, since price and quantity will generally change in lock step with each other. For the scenario present in this paper, the price elasticity of this product is -. 008 which means a 1 percent increase in price of the product causes quantity demanded to drop by -8 percent; therefore, the demand of the product is relatively inelastic. According to Arthur Sullivan, Steven We will write a custom essay sample on Demand Estimation: Regression Analysis specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Demand Estimation: Regression Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Demand Estimation: Regression Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Suffering and Stephen Perez (2012), authors of the textbook, Survey of Economics: Principles, Applications and Tools, If the elasticity number is large, it means that the demand forth product is very elastic, or very responsive to changes in price. In contrast, a small number indicates that the demand for a product is very inelastic (p. 82). Thus, an increase in price may not have a huge impact to the customers. Next, the competitors price elasticity for this product is 0. 05 which means if price of competitor product increases by 1 percent, then quantity demanded of this product also increases by percent. Hence, this product is relatively inelastic to a competitors price and the company will not have much concern about the competitor because their pricing will not have any major effect on its own sales. In addition, income- elasticity is 1. 08 which means a 1 percent rise in the average income in the area. This will boost the quantity demanded of this product by 108 percent. This means that this product is relatively inelastic and the company will not have to concern itself too much with their consumer income when considering the pricing strategy. Also, annuity demanded will not be affected too much even if income increases or decreases. Furthermore, the adverting elasticity for this product is 0. 08. This will require a 1 percent increase in advertising expenses with increases in quantity demanded of only 8 percent; so, demand is relatively inelastic to advertising. Therefore the company should not increase the price because it could drive away customers. Lastly, microwave elasticity is . 05; therefore, the demand of the product is relatively inelastic. Thus, an increase in price will not have a huge impact on the customers willingness to buy microwavable foods. And so, in the long-term the Recommend Whether You Believe That this Firm Should or Should Not Cut Its Price to Increase Its Market Share. A price slash would increase quantity demanded because the products price elasticity is negative. However, the level of elasticity is a less than one. Revenue is maximized when the magnitude of elasticity is one. Therefore, a decrease in price will increase quantity demanded, and this will lead to a loss of sales. As the demand equation points out, demand of the low- calorie food can change due to a change in consumer income, price of competitor product and price of related goods (microwave oven). The change can also come as a result of change in consumer preference (like awareness towards low-calorie food). Supply of the product can change due to change in number of suppliers of the product, technological advances in the production and other factors like change in availability of labor and raw-material which directly affect production costs. In the regression equation, the Arsenals percent which is explained while 15 percent is unexplained and the T-stats is plus or minus two and in the equation it is 2. 5. The F- stats is weak because it is 4. 88 and the higher the number the better. Indicate the Crucial Factors that Could Cause Rightward Shifts and Leftward Shifts of the Demand and Supply Curves. A rightward shift of demand curve could be caused by an increase in consumer income, a decrease in price of complementary product like microwave ovens, an increase in population or increased preference for the product like awareness towards low-calorie food. In fact, An Increase (or Decrease) in Demand refers to a shift in the entire demand curve. Whenever there is a change in any factor increasing the demand for a good, aside from the price of the good itself, the demand curve shifts to the right and there has been an increase in demand (Manama, 2012) A leftward shift of demand curve can be caused by a drop in consumer income or secession, increase in price of complementary product like microwave ovens; moreover, An Increase (or Decrease) in Supply refers to a shift in the entire supply curve. Whenever there is a change in any factor that increases the supply of a good, other than a change in the goods price, the supply curve shifts to the right, yielding an increase in supply (Manama, 2012) A rightward shift of supply curve can be caused by technology advances in food processing, increased availability of cheap labor and raw material, increased tax cuts and government subsidies etc. A leftward shift can e caused due to a decrease in availability / increase in price of labor, raw materials and increased taxes. References Manama, N. G. (2012). Essentials of economics. (6th De. , up. 22-23). Mason, OH: South- Western Coinage Learning. Michigan,J. R. , Moyer, R. C. , Harris, F. H. Debt. (2014). Managerial economics: applications, strategies and tactics (13th De. ). Stamford, CT: Coinage Learning. Sullivan, A. , Suffering, S. , Perez, S. (2012). Survey of economics: principles, applications, and tools (5th De. ). Upper Saddle River, NJ: Pearson-Prentice Hall.

Free Essays on Legalizing The Magic Herb

Marijuana has been around since the beginning of time and it’s been used safely by people of all different types of cultures. Legalizing marijuana would not only better the country but could also help people in difficult medical situations. Marijuana is a commonly used name for a â€Å"drug† made from the dried leaves and flowering tops of a hemp plant. The Latin name for marijuana is Cannabis sativa. People can smoke, chew, or eat marijuana for its intoxicating effects. The flowering tops of the Cannabis plant let out a sticky resin that has in it the active ingredient of marijuana, known as tetrahydrocannabinol, commonly THC. It first became noticed in the United States in the 1960`s. Soon it became the second most popular drug after alcohol, and its popularity raised all through the end of the millennium, mostly among younger Americans. The pot that people smoke today is much more potent then the stuff people were smoking in the 1960’s and 1970’s. Most countries consider marijuana an illegal substance, but other countries differ on how they prosecute the use and possession of marijuana. Some countries only give small fines to pay, while others giver worse punishments, as well as imprisonment. If we legalize marijuana, we reduce the black market and the violence associated with the sale of marijuana. If it were legal, no one would have to sneak around trying to sell and or get it. People would not fight over it or kill over it if it was as available as cigarettes or alcohol. I believe gang fights would decrease and there would be less deaths in more urban areas. This would weaken organized crime a lot. The government could tax the sale of marijuana and use this income to lower the national debt. The government seams to tax everything. If marijuana was legal, why not tax it, also? The taxes could help lessen the nation debt of the United States so we can put that money to better use. There would also be a decrease in money s... Free Essays on Legalizing The Magic Herb Free Essays on Legalizing The Magic Herb Marijuana has been around since the beginning of time and it’s been used safely by people of all different types of cultures. Legalizing marijuana would not only better the country but could also help people in difficult medical situations. Marijuana is a commonly used name for a â€Å"drug† made from the dried leaves and flowering tops of a hemp plant. The Latin name for marijuana is Cannabis sativa. People can smoke, chew, or eat marijuana for its intoxicating effects. The flowering tops of the Cannabis plant let out a sticky resin that has in it the active ingredient of marijuana, known as tetrahydrocannabinol, commonly THC. It first became noticed in the United States in the 1960`s. Soon it became the second most popular drug after alcohol, and its popularity raised all through the end of the millennium, mostly among younger Americans. The pot that people smoke today is much more potent then the stuff people were smoking in the 1960’s and 1970’s. Most countries consider marijuana an illegal substance, but other countries differ on how they prosecute the use and possession of marijuana. Some countries only give small fines to pay, while others giver worse punishments, as well as imprisonment. If we legalize marijuana, we reduce the black market and the violence associated with the sale of marijuana. If it were legal, no one would have to sneak around trying to sell and or get it. People would not fight over it or kill over it if it was as available as cigarettes or alcohol. I believe gang fights would decrease and there would be less deaths in more urban areas. This would weaken organized crime a lot. The government could tax the sale of marijuana and use this income to lower the national debt. The government seams to tax everything. If marijuana was legal, why not tax it, also? The taxes could help lessen the nation debt of the United States so we can put that money to better use. There would also be a decrease in money s...

Brand Management Strategy Essay Example | Topics and Well Written Essays - 2750 words

Brand Management Strategy - Essay Example Thus, a product may be a physical good (e.g., a cereal, tennis racquet, or automobile), service (e.g., an airline, bank, or insurance company), retail store (e.g., a department store, specialty store, or supermarket), person (e.g., a political figure, entertainer, or professional athlete), organization (e.g., a nonprofit organization, trade organization, or arts group), place (e.g., a city, state, or country), or idea (e.g., a political or social cause). Brands play a critical role in a firm's international marketing strategy. Coherent international brand architecture is a key component of the firm's overall international marketing strategy as it provides a framework to leverage strong brands into other markets, assimilate acquired brands, and rationalize the firm's international branding strategy. This paper aims at making a detailed analysis of the product portfolio of Coca Cola and determines the effectiveness of its brand strategies. Most discussion and research on branding, both in domestic or international markets focus on the equity or value associated with a brand name and the factors that create or are the underlying source of value (Aaker, 1996; Kapferer, 1997; Keller, 1998). Considerable attention has, for example, been devoted to examining about extending the value embodied in a brand and its equity to other products without resulting in dilution of value (Aaker and Keller, 1990). This interest has been stimulated in part by the increasing market power and value associated with a strong brand and in part by the prohibitive costs of launching a successful new brand. In international markets, interest has been centered on global branding - defining the meaning of a global brand, discussing the advantages and pitfalls, and the conditions under which building a global brand is most likely to be successful (Roth, 1995a, b; Quelch, 1999). While this focus is appropriate for a relatively few high profile brands such as Coca-Cola, it ignores the complexity of the issues faced by the vast majority of multinational firms who own a variety of national, regional and international brands, at different levels in the organization, spanning a broad range of diverse country markets. Typically, these brands differ in their strength, associations, target market and the range of products covered, both within and across markets. Equally the use of brands at different organizational levels may vary from company to company. Research of Brand Portfolio Coca-Cola is the manufacturer, distributor and marketer of nonalcoholic beverage concentrates and syrups across the globe. They also manufacture, distribute and market some finished beverages. Along with Coca-Cola, which is recognized as the world's most valuable brand, they market four of the world's top five soft drink brands, including Diet Coke, Fanta and Sprite. The Company owns or licenses more than 400 brands, including carbonated soft drinks, juice and juice drinks, sports drinks, water products, teas, coffees and other beverages to meet consumers' desires, needs and lifestyle choices. More than 1.3 billion servings

Contemporary film Movie Review Example | Topics and Well Written Essays - 500 words

Contemporary film - Movie Review Example The story centers on the relationships of Sam and his father George and Robin’s second husband and their two little children. In the beginning, George Monroe and Robin Kimball had decided to divorce, resulting to Sam’s struggles when he was a teen-ager. George did not able to get the heart of his son as he lived separately from them. George was residing on the Southern California coast when he was fired on his job owing to his illness. He was diagnosed with a terminal cancer. He stipulated not to disclose his condition to his family, instead spend his remaining time with his family. For that, he called up his son to live with him for the summer. The two did able to reconnect as a family. However, Robin and her second husband Peter Kimball were not happily living as Peter is unaffectionate to his children and to his wife. Robin realized that she made some unfavorable decisions. Moreover, George did not expect the relationship to go far considering his health condition. A ll he wanted was to do all he wanted to do before time betrays him (â€Å"Life as a house,† 2006). A family genogram is used to trace family patterns. Genogram is illustrated through â€Å"lines, squares, circles, text, and symbols† (Genogram-Make Millenium, 2005 as cited in Shapiro, Kaslow, & Maxfield, 2007, pp. 76-79). Using this notion, Life as a House family tree will be illustrated to understand further the relationships of the members of the family from the past and as time goes by. The signs and symbols in the genogram, which are illustrated below, have been adopted to evaluate the relationship patterns of the members of the family. These are the basic signs and symbols developed by the GenoPro (â€Å"Introduction,† n.d.). The pattern of relationships is shown above; George has close relationships with his son Sam, and his ex-wife Robin’s two little children. At first, Sam has a hard time

Work placement with Barnet Homes Case Study Example | Topics and Well Written Essays - 2750 words

Work placement with Barnet Homes - Case Study Example The board has formed four sub groups to help it in the task of running the affairs at Barnet homes viz. business sub-group, standards sub-group, resources sub-group, procurement sub-group. The board is given strategic direction through a strategic steering group. The structure of these subgroups is flexible enough to include up to five co-opted members to bring additional relevant skills and experience. The Board delegates roles to area partnership and regeneration panels. The Barnet Housing Consultative Panel is the main consultation forum for Barnet Homes on borough wide operational issues and for Barnet Council on strategic housing issues. These panels focus on the housing management services provided by Barnet Homes. A separate steering group on each estate is responsible for working with partners on the regeneration proposals for the estate. There are also specialist partnership panels for sheltered housing and leaseholders. Barnet homes employs 367 full time staff and 52 Direct Labor Organization operatives (DLOs). It comprises substantially of the staff transferred from the housing service of its parent Barnet Council. The percentage break-up of staff involved in various categories of jobs is as follows- Housing Management(27%) ,Technical Services(19%),Caretaking(18%), DLO(15%), Supporting People(10%),Corporate (4%),CEO(4%) and Finance(3%).(5 Year, 2005) The stated aims and objectives of the organization Barnet homes has set for itself following six fold objectives: 1. To provide excellent services driven by customer involvement. 2. To bring all homes up to decent homes plus standard by 2010. 3. To provide services that meets the needs of all our diverse & vulnerable customers. 4. To develop safe sustainable & cohesive communities through partnership. 5. To develop a highly skilled, motivated and satisfied workforce, which is reflected in high quality services to residents, and 6. To develop new business areas for Barnet homes.(5 Year,2005)

An Analysis Social Media Media Essay

An Analysis Social Media Media Essay We have witnessed lots of changes in the communication field over the past few years. Different types of communication media have been emerging and making their way into the market and have made the communication needs of the customers cheaper owing to competition. Internet is one of those things that contributed to the revolutionary changes in the recent times. There have been many changes and different stages of evolution in the said field even with the use of internet. Different methods and technologies have been evolving to use the internet in a better way. Social networking is one of those that have and have been making the internet exciting by the day. The latest buzz Social Networking added to make users more interactive with their friends (Ivanauskas, 2009). Social Networking sites like Facebook, Orkut, MySpace, and Twitter are already in to the market and making their presence felt by having lot of members join their networks and communicate with their friends and buddy list through their websites. The above mentioned social networking websites have bridged a lot of gap between friends who are priory difficult to stay in touch. They also have many users friendly and value added features such as sharing media and playing online games etc. The increasing demand for these websites meant the marketing companies have started focussing on these websites to attract the unique customer groups these websites represent. The latest buzz in marketing that reaches customer directly has been social networking. Aim: Main aim of this dissertation is to know how the social networking influences the current generation through the extensive utilisation of social networking for marketing purposes and evaluating the social networking sites as a medium of advertisement. Objectives: To study the effect of social networking websites on the current generation. Researching latest marketing strategies of business by using Internet Technologies including social networking sites Conducting a consumer survey about the usefulness and effectiveness of advertisements in social media networks. Context: First online community created was SixDegrees.com in the year 1997. And it used allow users to create their own profile and make them available to their friend by adding to their friends list (Adrian, 2008). The first ever social networking website however did not stand the tide of time and was closed due to reasons which are out of scope of this dissertation. The time spent by the netizens on the social networking sites is increasing by the day and the recent studies only go on to show the same. The community websites hold major part of Internet traffic and it increased 230% since from 2007 (Diana, 2010). The time spent on the internet increased by around 65% by the users in UK from 2007 to 2010 (Burrows, 2010). The statistics also show that the average age of the users of the social networking sites is predominantly low like in the 20 to 30 and 30 to 40 groups due to various reasons. (Michael, 2008) The projections also indicate a billion users for the social networking sites by the end of 2012. The increasing strength of these websites makes the marketing departments rethink their marketing strategies. After going through lots of articles and statistics related to online communities, it has been observed that the latest market trend was revolving around these networking sites and making most of this to their business advantage. Acknowledging the fact that teenagers do spend a lot of time online, it would be interesting to take advantage of this new trend and utilize it for the classroom more specific to the teaching and learning process. (Pingdom, 2010) Experts predict that between 2007 and 2011, U.S. ad spending on social networks will grow 180% from $900 million to $2.5 billion, as illustrated below in Figure II, which is attributable to increased revenue projections of the popular social networking site Facebook and increased spending on niche social networks (Zarina, 2009). It is indeed surprising to observe the share of internet marketing in the youth related companies. Modern marketing companies started making tools to make use of this trend and the same can be observed by studying these websites. In fact many companies adopted marketing in social networking websites as their major outlet of advertising and publicity. (RedBridge, 2008; MLC, 2008) The companies are also undergoing a major change technologically like adopting technologies such as web 2.0 to use the marketing space and opportunity in the modern websites such as Facebook, twitter etc which are mentioned above. According to Bakardjieva (2004), technologies of communication media were instrumental factors in building up successful communities that exists today. The increasing demand for the online communities and social networking websites is making new companies enter the arena. The investments of major IT companies in the already existing social networking websites (Google invested $900 million in MySpace and Microsoft $240 millions in Facebook) goes on to show the obvious which is the potential of these sites for the future (Ivanauskas, 2009). The investment is looked upon not as a business opportunity but rather as a marketing venue for these big companies to promote their already existing products. Companies on the other hand besides grabbing big opportunities such as above also are not missing out on being on the user side of these websites and being part of the plan when it comes to their target population. Almost everyone these days seem to have their presence in almost all the social networking sites which are most common in those respective regions. An account in Facebook, MySpace and Twitter seem to be the most common thing to most companies to reach out to customers on a direct basis. The customers are rising their doubts and the interaction is what is making the use of these websites so unique compared to other marketing strategies (Grunert, 2009). The above unique facts about the social networking and the new trends of marketing that are starting to spread making use of the same made the choice easier. It was decided that the area has lot of scope for research. Literature Review: According to Linda Peters (1998), the Web presents a fundamentally different environment both as a medium and as a market from traditional communication channels perspective. Itcreates the Marketspace a virtual realm where products and services exist as digital information and can be delivered through information-based channels (Rayport and Svikola, 1994). The companies and consumers quickly adopted the new concept of the new interactive world for their own benefits. These interactive channels allowed companies to reach new markets or have a grater influence in the existing oneà ¢Ã¢â€š ¬Ã… ¸s (i.e. example media companies transferred their news papers in order reach new audiences) and the consumers had an opportunity to save time and money by communicating, looking for information or buying product and services online. The concept of interactivity has been extensively researched in advertising and marketing literature and was summarized by Johnson (Johnson et al, 2006) According to Liu Shrum (2002) emergence of new media (Internet), brought new models of interactivity: user-to-user and user-to-message. Contemplating about user-to-user interactivity Ha and James (1998) suggested that the more communication in a computer-mediated environment resembles interpersonal communication, the more interactive the communication isà ¢Ã¢â€š ¬-. Steuer (1992) defined users-to-message interaction as follows: à ¢Ã¢â€š ¬Ã¢â‚¬ ¢the extent to which users can participate in modifying the form and content of a mediated environment in real timeà ¢Ã¢â€š ¬-. Lee (2005) summarized the main components of online interactivity Commercial online services and the introduction of the Web have created the potential for a mass interactive dialogue between exchange parties (Peters, 1998). The world have witnessed the evolution of a universal interconnected network of audio, video, and electronic text communications that blurred the distinction between interpersonal and mass communication and between public and private communication (Neuman, 2003). The new market space changed the behavior of the people and the communication models. The shift is then from a one (firm)-to-many (consumers) model of communication to the many-to-many model where contribution to the medium and the message may come from both directions (Hoffman and Novak, 1996). Chaffey (Dave Chaffey et al., 2007) argues that such kind of communications allows mass customization and personalization and the messages send trough Internet can be targeted more effectively. Moreover, the Web is changing the traditional marketing communications concepts as t he consumers can go all the way from awareness to interest to desire to action (AIDA Framework), all within the same medium and within the same session (Economist, 2008a). Andrew L. Shapiro (1999) argues that the emergence of new, digital technologies signals ia a potentially radical shift of who is in control of information, experience and resources. One of the key features of the new electronic communication media is the ability of consumers to control both contact and content (Peters, 1998). Sohn and Lackenby (2002) suggest that individuals participation in social communication processes is the crucial factor for increasing the perceived interactivity of the Internet (citied in Stafford and Ronald, 2005). Moreover, according to Normann and Ramirez (1994) the consumers become co-producers, because the value is constantly created in interaction with many different players, including consumers, suppliers, employees and managers. As a result, marketers are losing control over the communication messages their trying to deliver to their consumers. According to Gatarski and Lundkvist (1998) when communication, in the meaning of sharing information, meets i nteractivity, it creates not simple massages but forms two-way conversations. These conversations can be applied in production as implementation of mutual ideas (consumers and producersà ¢Ã¢â€š ¬Ã… ¸) in order to create new enjoyable products or services. 2.1 Introduction to changing media and communications landscape The last century was a gold age for the media development. The new technologies as Telephone, Radio and Television have changed peopleà ¢Ã¢â€š ¬Ã… ¸s lives forever. The new ways of communications have been successfully adopted and become a norm. The last decade of the century brought the new innovative technology Internet. As predicted by Newman (1991) Internet: Altered the meaning of geographic distance. Allowed the huge increase in the volume of communication. Provided the possibility of increasing the speed of communication. Provided opportunities for interactive communication. Allowed forms of communication that was previously separate to overlap and interconnect. Grieco and Holmes (1999) (citied in Combe et al, 2003) identifies three powerful features of Internet: 1. Disintermediation or the removal of brokers by allowing direct communication across spatial and sociometric distance; 2. Asynchronicyty of the removal of temporality as a barrier to communications; 3. Oculacy or the ability to communicate messages through images. According to Hermeking (2006) The global spread of modern technology, including information and communication technology (ICT), is commonly regarded both as an indicator of the postmodern era of globalization and as the very precondition for that era of intensive worldwide interactions of people and exchanges of goods, services, information, and capital. Hoffman (Hoffman et al., 1995) argues that the popularity of the WWW as a commercial medium (in contrast to other networks on the Internet) is due to its ability to facilitate global sharing of information and resources, and its potential to provide an efficient channel for advertising, marketing, and even direct distribution of certain goods and information services. In the recent years Internet witnessed amazing growth, according to Internet Consumption Report (Soumukil, 2008) the 21% (1,407,724,920) of the world population (6,676,120,288) are internet consumers. Most of them live in well developed regions as North America where internet penetration is as high as (73.1%), Australia (57.0%) and Europe (47.7%). Peters (1998) suggest that no other technological innovation has captured the imagination of users with the speed and impact of the Internet (Graph 1). According to Linda Peters (1998), the Web presents a fundamentally different environment both as a medium and as a market from traditional communication channels perspective. It creates the Marketspace a virtual realm where products and services exist as digital information and can be delivered through information-based channels (Rayport and Svikola, 1994). The companies and consumers quickly adopted the new concept of the new interactive world for their own benefits. These interactive channels allowed companies to reach new markets or have a grater influence in the existing oneà ¢Ã¢â€š ¬Ã… ¸s (i.e. example media companies transferred their news papers in order reach new audiences) and the consumers had an opportunity to save time and money by communicating, looking for information or buying product and services online. The concept of interactivity has been extensively researched in advertising and marketing literature and was summarized by Johnson (Johnson et al, 2006) (Appendix 1.1). According to Liu Shrum (2002) emergence of new media (Internet), brought new models of interactivity: user-to-user and user-to-message. Contemplating about user-to-user interactivity Ha and James (1998) suggested that the more communication in a computer-mediated environment resembles interpersonal communication, the more interactive the communication isà ¢Ã¢â€š ¬-. Steuer (1992) defined users-to-message interaction as follows: à ¢Ã¢â€š ¬Ã¢â‚¬ ¢the extent to which users can participate in modifying the form and content of a mediated environment in real timeà ¢Ã¢â€š ¬-. Lee (2005) summarized the main components of online interactivity (Table 1). Commercial online services and the introduction of the Web have created the potential for a mass interactive dialogue between exchange parties (Peters, 1998). The world have witnessed the evolution of a universal interconnected network of audio, video, and electronic text communications that blurred the distinction between interpersonal and mass communication and between public and private communication (Neuman, 2003). The new market space changed the behavior of the people and the communication models. The shift is then from a one (firm)-to-many (consumers) model of communication to the many-to-many model where contribution to the medium and the message may come from both directions (Hoffman and Novak, 1996). Chaffey (Dave Chaffey et al., 2007) argues that such kind of communications allows mass customization and personalization and the messages send trough Internet can be targeted more effectively. Moreover, the Web is changing the traditional marketing communications concepts as t he consumers can go all the way from awareness to interest to desire to action (AIDA Framework), all within the same medium and within the same session (Economist, 2008a). Peters (1998) suggests four main changes in communication model compare the new and old media: 1. Communication style tend to have little or no time lag between the giving, receiving and responding aspects of communication between the parties. 2. Social presence or perceived personalness, the feeling that communication exchanges are sociable, warm, personal, sensitive and active. 3. Control of contact Early research into the willingness of consumers to utilize technology in shopping behavior concludes that the ability to control the pace and presentation of product information has the strongest influence on willingness to engage in computer-mediated marketing activity (Carson et al., 1996). 4. Content The content can be customised either by users or by senders. Where users are able to control the content, or presentation, of the message it is said to be interactive. Andrew L. Shapiro (1999) argues that the emergence of new, digital technologies signals ia a potentially radical shift of who is in control of information, experience and resources. One of the key features of the new electronic communication media is the ability of consumers to control both contact and content (Peters, 1998). Sohn and Lackenby (2002) suggest that individualà ¢Ã¢â€š ¬Ã… ¸s participation in social communication processes is the crucial factor for increasing the perceived interactivity of the Internet (citied in Stafford and Ronald, 2005). Moreover, according to constantly created in interaction with many different players, including consumers, suppliers, employees and managers. As a result, marketers are losing control over the communication messages their trying to deliver to their consumers. According to Gatarski and Lundkvist (1998) when communication, in the meaning of sharing information, meets interactivity, it creates not simple massages but forms two-way conve rsations. These conversations can be applied in production as implementation of mutual ideas (consumerà ¢Ã¢â€š ¬Ã… ¸s and producersà ¢Ã¢â€š ¬Ã… ¸) in order to create new enjoyable products or services. 2.2 Social media and Web 2.0 2.2.1 Social media The real power of people can be noticed in the new revolutionized media channel social media. According to Mayfield (2008) social media is best understood as a group of new kinds of online media, which share most or all of the following characteristics: Participation Engagement: social media encourages contributions and feedback from everyone who is interested. It blurs the line between media and audience. Openness: most social media services are open to feedback and participation. They encourage voting, comments and the sharing of information. There are rarely any barriers to accessing and making use of content password-protected content is frowned on. Conversation: whereas traditional media is about à ¢Ã¢â€š ¬Ã… ¾broadcastà ¢Ã¢â€š ¬Ã… ¸ (content transmitted or distributed to an audience) social media is better seen as a two-way conversation. Community: social media allows communities to form quickly and communicate effectively. Communities share common interests, such as a lov e of photography, a political issue or a favourite TV show. Connectedness: Most kinds of social media thrive on their connectedness, making use of links to other sites, resources and people Drury (2008) suggests that when analyzing social media marketers too often concentrates on the media factor, when social element is the key, because marketing within social media is about building a relationship and conversation with the audience, where the simple message delivery is changed by ongoing exchange of perceptions and ideas between company and the consumer. Haven (2008) suggests that social media key elements are not entirely new as features of sharing, connecting, opining, broadcasting and creating has been long in our lives, but there are several characteristics of new technologies and behaviors that set them apart from the past: Reach Historically, audiences for the common person have been limited: a tribe, family, friends, neighbors, or the local community. Todays technologies pr ovide scale and enable anyone to reach a global audience. Accessibility The means of production for most media used to lie in the hands of enterprises with unlimited resources (financial or human). Todays technologies for media creation are available to anyone at little or no cost. Usability The means of production typically required specialized skills and training, both technically and creatively. Todays technologies simplify those processes, or in some cases reinvent them, so anyone can create and operate the means of production. Transparency People, especially Americans, historically kept personal information to themselves and had a general distrust of authority (enterprises, government, etc.). Today, people are willing to share anything about themselves (interests, location, family situations, health condition, etc.) in a public venue, and todays technologies make that both possible and purposeful. Recency When people did have the means of production and distribution in the past (albeit limited), the time lag between communications was typically long (days, weeks, or even months). It was a limitation of the technology or system in which it operated. Todays technologies enable instantaneous responses and dialog where only the participant determines the delay in response. The interactivity gains a new meaning when it is applied through Web 2.0 platforms and Social media channels as dialogue between consumer and company becomes much more active and interactive. As summarized in the media landscape analysis the past decade was all about two-way communicationà ¢Ã¢â€š ¬Ã… ¸s and interactionà ¢Ã¢â€š ¬Ã… ¸s models. Most of the marketing academics (Kotler, 2003; Pettit and Brassington, 2005) recognized the importance of creating two-way marketing channels between consumer and company for brand building, CRM, sales (and etc). Social media, itself, does not change this idea, but redefines interactivity and takes it to another level. Armano (2008a) argues that social media goes beyond the interactive marketing which is facilitated by computer-human interaction, and introduces human-to-human interaction enabled by technology (Appendix 2.1). The main difference is that the companies instead of pushing the content (i.e. automated e-mailà ¢Ã¢â€š ¬Ã… ¸s) through online channels empower people to engage and interact with other people and produce new content about the company (blogging, commenting, social networking and etc.). Free production of content and voluntary distribution is the key elements of the social media. Meadows-Klue (2008) suggests that in social media marketing engagement replaces interruption; diversity and self-expression replace conformism and unity; the media of the masses replace mass media; granular insights and rich data replaces generalization and conversations in marketing replace control. Another major change from the marketing perspective is the shift from persuasion to influence. Past decades marketing practitioners were using the communication mix in order to attack consumers with pervasive messages to make them buy goods and services offered, but in the age where 25 percent of search results on Google for the worldà ¢Ã¢â€š ¬Ã… ¸s 20 largest brands links to consumer-generated content (Nielsen Buzz Metrics, 2007 ), to do this is too late, not practical or impossible, as the messages are already floating out there. According to Mitchell (2008) this process is facilitated by the change of information flows from top down (B2C) to bottom up (C2B) what redefines marketing environment as marketers do not own the message anymore (Figure 2.2, Apendix 2.2). Armano (2008) suggests that people can be divided in different grouping according their strength as the massagers (Apedix 2.3) The User Generated Content (UGC) can become influential message of the consumer to the consumer (C2C) about the company and therefore should be carefully monitored. In fact, the content is the new message in social media channels. According to Eikelmann (Eikelmann et al, 2008) the best marketers can do in this environment is to try to engage with the consumers through social media in order influence these messages. Drury (2008) suggests that instead of sending simple messages, marketers should provide the content which would be relevant for consumers and would generate conversations among them. Therefore, influence will become a standard measurement in Marketing 2.0 (Dowdell, 2008). As blogger and social media strategist Douma (2008) put it: The age of persuasion is over. Welcome to the age of influence. Marketers are forced to look for alternative communication strategies to market in the social media environment, because advertising clutter, growing advertising literacy and changing consumer behaviour drives down the return on investment (Biegel, 2008; Constantinides and Fountain, 2008). These strategies have to consider the increasing fragmentation in the markets. 2.2.2 Web 2.0 Social media and Web 2.0 are two terms which are often used interchangeably in the marketing literature, even though they are not entirely the same. From the marketing perspective, the Web 2.0 should be perceived as the new tools for the marketing communication mix and facilitator and enabler of social media. The Web 2.0 term was introduced by Tim Oà ¢Ã¢â€š ¬Ã… ¸Reilly in 2004, it has originated from talks about social software and the communities surrounding these applications. According Tim Oà ¢Ã¢â€š ¬Ã… ¸Reilly (Tim Oà ¢Ã¢â€š ¬Ã… ¸Reilly, 2007) the companies that survived the dotcom boom had something in common; these companies realized that the Web is much more useful for delivering service than being used just as a platform for packaged products (i.e. software). Constantinides and Fountain (2008) defined Web 2.0 as follows: à ¢Ã¢â€š ¬Ã¢â‚¬ ¢Web 2.0 is a collection of open-source, interactive and user-controlled online applications expanding the experiences, knowledge and mar ket power of the users as participants in business and social processes. Web 2.0 applications support the creation of informal users networks facilitating the flow of ideas and knowledge by allowing the efficient generation, dissemination, sharing and editing / refining of informational content . Hoegg (Hoegg et al, 2005) suggests that Web 2.0 is the philosophy of mutually maximizing collective intelligence and added value for each participant by formalized and dynamic information sharing and creationà ¢Ã¢â€š ¬-. Both definitions share similar concepts of maximizing the collective intelligence, self-regulating community, network effect, transparency of the information creation and sharing process, but the key element in these terms is the user. From technological perspective, there are not many changes in the Web 2.0 compared to Web 1.0 applications; the real value is created by people not only using this social software but participating in the creation process of it (by creating and editing the new content or even in some cases modifying the application itself). According to Constantinides and Fountain (2008), the key innovative elements typifying this new family of web applications can be summarized as three main principles: 1. Focus on simple, service-based open-source solutions in the form of online applications. 2. Continuous and incremental application development requiring the participation and interaction of users in new ways: not only à ¢Ã¢â€š ¬-consumingbut also contributing, reviewing and editing content. 3. New service-based business models and new opportunities for reaching small individual customers with low-volume products. As Web 2.0 applications are still in the development stage, the grouping of them varies according to the purpose and field of the research. Hoegg (Hoegg et al, 2005) groups web 2.0 applications according the services they provide (Figure 2.4). Tim Oà ¢Ã¢â€š ¬Ã… ¸Reilly (2005) argues that Web 2.0 doesnt have a hard boundary, but rather, a gravitational core which could be visualized as a set of principles and practices that tie together a veritable solar system of sites that demonstrate some or all of those principles, at a varying distance from that core (Appendix 2.4). Therefore it is difficult to classify the Web 2.0 into the precise groupings, because the applications are interrelated and most of the time a few Web 2.0 features works on one platform. The mixture of Web 2.0 applications working under one site are known as Mash-ups. According to Mayfield (2008) à ¢Ã¢â€š ¬Ã¢â‚¬ ¢this combination of two or more pieces of content (or software, or websites) is one of the phenomena in social media that make it at once so exciting, fast-moving and sometimes bewilderingà ¢Ã¢â€š ¬-. But even more important feature of Web 2.0 applications is the adaptability in the different platforms. Social applications are becoming more and more popular on mobile devices (Phones, iPods (via podcasts)). In fact, according to BBC News (2008) one of the reasons the Internet usage on the mobile devices is increasing Web 2.0 applications. According to Drury (2008) social media applications has an ability to bring Head (Professional) and Tail (UGC) content together in all the formats (audio, video , text). As more and more professionally edited websites incorporates social media content some companies (i.e. Joost) are trying to apply Web 2.0 principals (live participation) for even bigger media platforms as TV. These applications are being tested in the Internet TV and in the near future have a good chance to redefine TV experience completely. All theses changes open new opportunities for integrated marketing campaigns, where marketers are enabled to reach larger audiences of consumers at all their touch points with mediated world at one-stop shop. Blogs and blogging Web Logs (commonly knows as Blogs), according to Tredinnick (2006), are arguably the oldest Web 2.0 applications and have been in the web space since mid 1990à ¢Ã¢â€š ¬Ã… ¸s. Constantinides and Fountain (2008) states that it is the most know and fastest-growing category of Web 2.0 applications. According to McCann report (2008), 184 million people World Wide have started a blog and 346 million read blogs, which means that 77% of active Internet users read blogs. Furthermore, 17.8 m have read a blog and around 4.3 m have created their own blog in the UK (McCann, 2008). The most recent Technorati research (2008) confirms this phenomenon as they tracked blogs in 81 languages from 66 countries around the world, it suggest that blogging have made a major influence on media ecosystem as bloggers are collectively creating almost one million posts every day and have representation in all top-10 web site lists across all key categories. In general a Blog is a Web site, usually maintained by an individual with regular entries of commentary, descriptions of events, or other material such as graphics or video where entries are commonly displayed in reverse-chronological order and has permalinks (Daily Blog Tips, 2008), but Pomerantz and Stutzman (2006) argues that for every blog author and consumer, the precise understanding of a blogà ¢Ã¢â€š ¬Ã… ¸s use is different, therefore it is difficult to define its true meaning. Dearstyne (2005) summarized the definitions and blogging opportunities provided by major companies: à ¢Ã¢â€š ¬Ã¢â‚¬ ¢Microsoft defines blogs as frequently updated personal web journals that can dramatically help both small and large companies communicate their product messages. They increase peoples ability to share ideas and information exponentiallv, and on a worldwide scale. Accenture says blogs are an interactive website that allows the owner to publish ideas and information. Users can read and evaluate material and add new content, creating a conver sation that spans lime zones and continents. Research Design and methodology: We are left with mainly two options for the way and approach for gathering the research data- primary and secondary in the broadest sense. The primary research methodology involves direct interaction with the subjects where as the secondary research involves collection of data from sources such as literature, magazines etc. While the primary research methodology is more current, it includes interviews, questionnaires, targeted groups, personal interviews etc which is a time taking and tedious process. There needs to be a trade off regarding the extent of primary research data to be included in the research. The main empirical study will be carried out based on the primary data which was collected as per the study requirements. Based on the requirement and research find

Segmentation of Mercedes

Table of Contents 1. 0 Situation Analysis/Current Marketing Mix†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 1. 1 Current Product†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 1. 2 Current Pricing†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 1. 3 Current Distribution†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 1. 4 Current Promotion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5 2. 0 Segmentation Theory†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 2. 1 Defining and Explaining Segmentation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 2. 2 Explaining Three Benefits of Mercedes-Benz Brand from using Segmentation †¦Ã¢â‚¬ ¦7 3. Target Market Identification†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 7 3. 1 Geographic Segmentation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 7 3. 2 Demographic Segmentation†¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 8 3. 3 Psychographic Segmentation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦8 3. 4 Behavioral Segmentation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 9 4. 0 Bibliography†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 20 Surname 3 1. 0 Situation Analysis/Current Marketing Mix 1. 1 Current Product Being a highly reputable brand globally, Mercedes-Benz has successfully penetrated in Singapore market.Presently, Mercedes-Benz C class has swiftly penetrated in the Singaporean luxury car market due to the prestige associated with the brand. Being a consumer product, Mercedes Class C has been characterized by high performance that accurately meets personal needs for active individuals through the superior brand name. Over the years, Mercedes Benz brand name has won global recognition, contributing to its popularity in Singaporean market. The various sub-models of Mercedes Benz Class C including C230, C240, C320 and C350 among others offer consumers with various luxurious services, besides mere travelling.It is important to note that, the ability of a core product to offer credible and other beneficial characteristics besides the core product utility enhances its propensity to acquire popularity among consumers1. In this regard, Mercedes Class C has been considered as of high quality level, having sophisticated features to enhance driving experiences, stylish in nature and having strong brand name. In Singapore luxury car market, it has been rep orted that 70% of customers enquiring about car are much interested in Mercedes Benz Class C. This is an indication that, much of their time is spent looking on the stylish nature of the product2.It has been observed that, most of these consumers looking for Mercedes Benz Class C don’t easily opt for other brands until they get it some other times when it is available. This is evidenced by the selling slogan of the product â€Å"Drive and Seek,† which aims at assuring the consumers ultimate performance of the product. More so, the prestigious nature of Mercedes Class C can be considered as a unique feature that has contributed to its popularity in Singapore. It has been observed that, Mercedes Benz Class C is multi-purpose, since it is still used in sports as well as for private outdoor traveling.It is vital to note that, the ability of a product to offer consumers with additional benefits besides the basic uses contributes to its popularity among consumers. By having more additional benefits than its 1 Richard, Semenik and Gary, Bamossy, Principles of Marketing: A Global Perspective (New York: Prentice Hall, 2005), 68. 2 Beng, Chua. Life is not Complete without Shopping: Consumption Culture in Singapore, (Singapore: Singapore University Press, 2003), 72. Surname 4 core competitors like BMW, Mercedes Benz Class C has penetrated well in Singaporean markets. 1. 2 Current PricingThe luxury car market in Singapore is an oligopoly competitive market, since there are few luxury car brands in the market. Being a superior brand in the market, Mercedes-Benz C-Class has efficiently penetrated in the Singapore market. This has been observed in the way this brand highly demanded, despite its high prices. Particularly, Mercedes Benz Class C pricing strategy is valuebased, considering the way consumers of this product have not been sensitive to the high prices for this product. It has also been observed that, increase in prices for Mercedes Benz Class C does n ot affect consumer demand.This is evidenced when prices for Mercedes Benz Class C 350 increased from ? 32580 in the year 2006 to ? 33130 in the year 2007, the total demand for the product remained undisturbed, constituting of about 30% of luxury demand in Singapore3. This shows how the superiority of the brand is not affected by price changes, since consumers have are highly loyal to the brand, despite competitors using various tactics to market their products. Customer loyalty for Mercedes Benz Class C is demonstrated in the way consumers in Singapore maintain the demand for the brand, despite its competitors lowering their prices.For instance, BMW is one of the core rivals of Mercedes Benz, whose tendency of reducing prices has not affected the demand for Mercedes Benz Class C. Particularly, the year 2007 saw BMW lower the prices of its luxury car models in Singapore in order to win more customers, a strategy which did not affect the demand for Mercedes Benz Class C4. This is an i ndication that, consumers tend to perceive the value of Mercedes Benz as being far much higher than the money they pay for.As a result, high level of customer loyalty has been prevalent for Mercedes Benz Class C in Singapore as a result of the outstanding features and prestigious nature of the luxury car brand. Considering that Mercedes Benz Class C is sophistically manufactured using highly costly resources, the strategy adopted by the brand in pricing the product is effective. Though Mercedes-Benz C-Class is an expensive car, its value among the consumers has made it acquire loyalty among the customers. 1. 3 Current Distribution 3 Leslie, Butterfield, Enduring Passion: Story of the Mercedes Benz Brand, (New York: Wiley Publishers, 2005), 36. Dennis, Adler, Mercedes Benz: First Gear, (London: Motorbooks, 2008), 46. Surname 5 Mercedes C-Class has been distributed using a variety of channels in Singapore. With some buyers opting for online orders, there are various selling points of the luxury car in Singapore. Among the various destination points for Mercedes Benz Class C includes the major attraction points in the island like Ion Sky, and Marina Bay Sand among others. More so, Mercedes Benz Class C has been distributed in Singapore through major exhibitions in the island like the Singapore Showroom, Titanic exhibition, MBS Countdown, and Elephant Parade among others.This has facilitated the distribution of the luxury cars to the people where they can view it and make purchases5. By having various points of sale for this product, high volume of sales has been experienced in this brand, since consumers find it easier to contact the sellers directly. Since customers are able to visit the show rooms and explore the vehicles directly, direct interactions between the brand’s representatives have facilitated brand popularity among the people of Singapore.Since Mercedes Benz Class C products are produced in Singapore, most of the sellers are company’s r epresentatives who act as sales agents. This makes the customers lack the opportunity of interacting directly with the manufacturers of the brand. With the advancement of e-commerce, many customers in Singapore have adopted online purchasing strategy for the Mercedes Benz Class C cars. Through online stores, Mercedes Company has been able to substantial customer base in Singapore6. Being a well developed country, many people use computers, making it easier for them to make most of their purchases online.Through the adoption of web video with interactive agent thriller as well as the company’s website, consumers have been able to know the products. After making online purchases the cars are shipped to the customers through the port of Singapore which handles various products from Europe and other parts of the world. Through the use of a blend of physical selling points and online marketing strategy, Mercedes Company has been able to distribute Mercedes Benz Class C cars to man y consumers in Singapore. 1. 4 Current PromotionCurrently, Mercedes Company adopts a variety of promotional platforms for Mercedes Benz Class C in Singapore. These platforms include internet portfolio, traditional print and cinema, which are 5 Paul, Leppert, Doing Business with Singapore: Global Business Series, (Washington, DC: Jain Pub Co. , 2000), 21. 6 Dennis, Adler, Mercedes Benz: First Gear, (London: Motorbooks, 2008), 41. Surname 6 reinforced with corporate social responsibility through integrated marketing communications. There various messages displayed on the promotional platforms for Mercedes Benz Class C which includes â€Å"Drive and Seek†, and â€Å"More Style per Hour†.All these promotional messages are available at the Mercedes Company’s website as core messages of persuading the customers to purchase the product. The message â€Å"Drive & Seek† has been passed on through this media, thus helping in marketing Mercedes Benz Class C. By adop ting this message, the company is guaranteeing its customers about the performance of the product. Online advertisement has been considered as key promotional platform adopted by the Mercedes Company in the sale of Mercedes Benz Class C in Singapore.With about 80 percent of Singapore’s society being able to access the internet at least daily, the use of web video advertisement by Mercedes-Benz has been found quite efficient7. Further, â€Å"More style per hour† is another promotional message adopted in the marketing of Mercedes Benz Class C in Singapore. This message has been widely available in the company’s marketing pamphlets, television ads and company’s websites. This message seeks to convince buyers that they will definitely experience outstanding prestige and stylish drive every time they use the product.With most of the consumers in Singapore being luxurious and prestigious in nature, this message has been found quite useful and accurate in meetin g the psychological needs of Singaporeans. The combination of these promotional messages has enhanced successful penetration of Mercedes Benz Class C in Singapore consumer market, while many consumers who have the product remaining very loyal to it8. 2. 0 Segmentation Theory 2. 1 Defining and Explaining Segmentation Segmentation is basically the identification and establishment of buyer/consumer subsets within a market.Notably, these groups of buyers demonstrate similar behaviors and needs. Despite the extensive and diverse nature of the global market, it should be noted that buyers have different behaviors and needs. With this in mind, marketers or businesses have to match groups of customers who have similar needs and behaviors. A point worthy of consideration is that each segment has 7 Leslie, Butterfield, Enduring Passion: Story of the Mercedes Benz Brand, (New York: Wiley Publishers, 2005), 33. 8 Philip Kotler, Marketing Places, (New York: McGraw Hill Press, 2001), 231. Surname 7 distinct needs and homogeneous characteristics.With this in mind, market stimulus and market intervention are used to address each segment9. Through segmentation, marketers are able to meet the specific needs of the particular customer base, by tailoring the products to meet the needs of such customers. 2. 2 Segmentation in Singapore for Mercedes-Benz Class C The market segmentation in the Singapore consumer market for Mercedes Benz Class C has been very useful in the way the company has been able to position the product more appropriately. The market segment aimed by this product is the middle age-group working class people who are educated.Particularly, Mercedes Benz Class C is meant for individuals who have achieved success in their early live and are having many ambitions in their endeavors. This is evidenced in their marketing messages which seem to concern active and well-up people seeking success in their various endeavors. For instance, ‘Drive & Seek’ is mean t to persuade active and successful individuals to seek more success through driving Mercedes Benz Class C10. With about 80% of the population aging between 18-49 years working, this segment has the potential to offer substantial market opportunity for Mercedes Benz Class C.More so, Mercedes Company targets young and well-up families. This is shown in the way Mercedes Benz Class C is specially tailored to accommodate a family while at various luxurious trips or excursions. As evidenced in the promotional message ‘more style per hour’ it is explicit that the company aims at meeting the needs of a family while traveling. Quite importantly, this segment comprises of large proportion in Singapore with about 48% of the population married, while the rest are children and youths11. As a result, there seems a potential market for this product in Singapore market. . 0 Target Market Identification 3. 1 Geographic Segmentation Singapore is a highly strategic and potential country for luxurious products like Mercedes- Benz C-Class. Precisely, Singapore is a small country which is highly urbanized. Since Mercedes Benz Class C requires flat and smooth terrain for outstanding performance, Singapore can be 9 Johan Arndt, Market Segmentation: Theoretical and Empirical Dimensions (New York: London, 2001), 38. 10 Dennis Adler, Mercedes Benz: First Gear, (London: Motorbooks, 2008), 38. 1 Paul Leppert, Doing Business with Singapore: Global Business Series, (Washington, DC: Jain Pub Co. , 2000), 43. Surname 8 considered as an ultimate geographical region for this product. Precisely, the urbanized nature of Singapore positions it adequately in terms of market for the Mercedes C-Class. Majority of the population being urban dwellers, they have found Mercedes-Benz C-Class very useful in meeting their needs12. It is also important to note that, Singapore is experiences tropical climate; rainy, humid and hot, which makes the country to remain ever green and agriculturally p otential.Though commercial farming is not commonly practiced, the people in Singapore have food security. These are key aspects with reference to the economic stability of the region, makes the region to offer potential purchasing power for luxury products like Mercedes Benz Class C. Besides the ability to buy, the physical environment has made the people of Singapore to associate themselves with superior products like Mercedes Benz Class C to match their conducive geographical features.The gently undulating and lowland terrain of Singapore enhances the need for Mercedes-Benz C-Class which has a high sense of comfort. 3. 2 Demographic Segmentation The demographics of Singapore can be considered as having the potential to offer potential market for luxury products like Mercedes Benz Class C. The population structure constituting many middle-aged people whom most of them are working offers potential market for luxurious cars like Mercedes Benz Class C. More so, about 40% of people liv ing in Singapore city are foreigners who have come to do business and white collar jobs.With about 76% of the people living in Singaporeans aging between 15-64 years, it is evident that most of the population is active, making it efficient for Mercedes Benz Class C which aims at active individuals and young families. Many of these people engage in economic activities which are industrial in nature like financial services provision, chemicals, electronics, construction and entrepot trade. With the population growth rate being estimated to be 1. 56 percent, there seems to be potential market for luxury products like Mercedes Benz Class C in Singapore throughout.It has also been observed that, high level of literacy in the country, which is about 90%, has played significant role in boosting the purchasing power of many Singaporeans. On this basis, it is evident that there is potential market for various segments aimed by Mercedes-Benz C-Class13 in Singapore. 12 Richard Vasil, Governing Singapore: Democracy and National Development (New York: Allen & Unwin, 2000), 96. 13 Leslie Butterfield, Enduring Passion: Story of the Mercedes Benz Brand, (New York: Wiley Publishers, 2005), 41 Surname 9 3. Psychographic Segmentation One of the target segment markets for Mercedes Benz Class C is highly ambitious middleaged working class. The luxurious lifestyle upheld by this group has been found effective when coupled with Mercedes-Benz C-Class as one of their luxury products. With most Singaporeans being active in their lives, they have been found quite suitable for being targeted as ultimate consumers for Mercedes-Benz C-Class. With this group being working, its purchasing power for luxury products like Mercedes-Benz C-Class has been guaranteed.It is also important to note that, the socio-economic status of the target market for Mercedes-Benz C-Class is high income earners who seek performance as their core values. As a result, such individuals would go for outstandingly perf orming products like Mercedes-Benz C-Class in their lives. In Singapore, the largest population consists of middle-aged people with modal age of 37 years. In this regard, it is evident that there is potential market for Mercedes-Benz C-Class for this market segment. The urban lifestyles of the population of Singapore also demonstrate the socioeconomic potential of the Singapore market14.As a result, it has been evident that Singapore population has potential market for the market segment with the psychographics associated with Mercedes Benz Class C luxury cars. 3. 4 Behavioral Segmentation The consumer behavior in Singapore has been demonstrated to be very admirable for the marketing processes of Mercedes-Benz C-Class. Since the brand name itself is globally acknowledged, it has been difficult for individuals who are used to the brand to switch to other luxury cars. Majority of the population are urban dwellers who are characterized with high sense of purchasing foreign and sophisti cated products15.Statistics have shown that, about 80% of Mercedes Benz Class C consumers are loyal to the brand in Singapore. This is evidenced in the way many golf playgrounds, which are associated with high class people, are associated with Mercedes Brand Name. This has been due to the sophistication and prestige associated with the product. Since the target market for this brand are also prestigious and luxuries, it has been hard for them to give up products which seems to embrace their core values like Mercedes Benz Class C16. This has 14 Paul Leppert, Doing Business with Singapore: Global Business Series, (Washington, DC: Jain Pub Co. 2000), 52 15 Richard Vasil, Governing Singapore: Democracy and National Development (New York: Allen & Unwin, 2000), 97. 16 Leslie Butterfield, Enduring Passion: Story of the Mercedes Benz Brand, (New York: Wiley Publishers, 2005), 55 Surname 10 adequately enhanced the potential of the population in purchasing the Mercedes-Benz C-Class. Generally , the high purchasing power of the target market for Mercedes Benz Class C in Singapore has facilitated high degree of loyalty to the product, since this product has been observed to embrace their personal and lifestyle needs.

Conceptualizing a Business †HOMICIDE CLEANUP Essay

HOMICIDE CLEANUP My business is defined as a cleaning business, but not in the sense of your regular house cleaners. My company Homicide Cleanup, deals with the cleanup after death, whether it be in the house and or outside. The services my company provides is the cleanup after any type of death has occurred. It is our mission to cleanup the scene of a death and or homicide as quickly as possible so the family of the deceased and or victim is no longer noticeable for the family to see causing less heartache. I want to have an excellent crew of cleaners who will be able to stomach some of the jobs in which they will be going to. Some of these jobs will require dealing with foul odors should the victim have been deceased for a period of time. My cleaners will be required to know how to dismantle furniture along with household sinks, toilets and so forth. The reason they will need to know this is, if a deceased individual has been passed away for some time, the body fluids from within the victim eventually make theire way out of the body and in this case will leak into the floor, in any crack and just about anywhere. Pending on where in the house the deceased has passed, depends on the cleanup and how much will need to be cleaned. My cleanup crew will also have to deal with the cleanup of a death should it occur outside. Cleaning up after a death outside is vital since hundreds of people could walk pass this scene a day. The scene will have to be cleaned so there is no visible sign of blood, bodily fluids or any human matter depending on what type of death has occurred. Here at Homicide Cleanup, it is our vision to be there for the families who have to deal with the tragedy of losing a loved one. It is our job to make the client of the deceased as comfortable with us given the circumstances at  this time for them. We want to get the job done accurate and return the scene back to its original form before the unfortunate event that has taken place, took place. We will strive to make the victims family at ease when it comes to handling the unfortunate situation which has brought us to meet each other. It is our vision hear at Homicide Cleanup to become the best when it comes to these tragic situations. We want to become number one within the state of New Jersey when it comes the cleanup of any death which may have occurred. Also, the most easiest to speak to for the family of the deceased as we know this is a hard to for the loved one involved. Many see ethics as a matter of honor, as holding true to a certain set of rules and standards here at Homicide Cleanup our ethics consist of respecting the family involved of the deceased. There will be no disrespecting in any matter. No foul language. No talking about the scene other how it will be cleaned. It is our responsibility here at homicide Cleanup to make the family feel at ease as possible when it comes to cleaning up the scene of the deceased. Should any of these ethics be broken by any employee they will face consequences along with the loss of their job. We here at Homicide cleanup are not here to make a tragic situation worse for the family of the deceased, but to make it as less painful when having to deal with us. When it comes to the vision of Homicide Cleanup, we strive to make a company that is reliable and understanding when it comes to a families tragedy. We understand the difficult time in which the family must be facing and here at Homicide cleanup, we will get the job the job done as soon as possible so the presence of why were there can diminish. It is our mission to be the best when it comes to cleaning a death scene regardless of how horrific the scene may be. Our mission is to make it seem as if nothing has happened where the unfortunate death has occurred. Here at Homicide Cleaneup we understand the hurt and the stress the family is going through at such a time so, we want to make the pain a bit less by doing our  job and leaving no trace of what has occurred. Homicide Cleanup adreeses our customers needs in the following ways: we are on call 24/7 365 days a year. We know death can occur at any moment and we are available anytime of day and or night. When a customer calls they will speak with a trained individual not a recording and upon the phone call we will have a team of trained cleaners out to the scene within minutes. We will provide the removal of any biohazard waste in a safely manner. We also provide procedures include disinfecting, and deodorizing with hospital grade disinfectants, cleaning and then restoring any damaged structural elements including carpet, flooring, drywall, or paint We will disefect the area where the unfortunate death occurred leaving the area and or household clean of any viruses and or traces of any kind of death. In conclusion, Homicide Cleanup is the most important roll when it comes to cleaning up after any type of death has occurred. Why? My company is trained in the removal of any biohazard waste. We are trained to use the products in which are used to disinfect any blood and or pheses from within the human body leaving it clean without harm to others. An ordinary individual will be unable to try and clean the scene themselves. Not only is it against the law, but unsanitary as well. The biohazard waste must be removed and disposed of properly it cannot just be thrown in the trash. Biohazard waste that is thrown in trash can only spread any desease in which blood can carry leaving another individual who may come in contact with it in danger. RESOURCES http://www.crimescenecleanteam.com/about.htm http://bestcrimescenecleanuputah.com/Services.html

The effectiveness of communication in 17th c. to the present essays

The effectiveness of communication in 17th c. to the present essays When comparing the effectiveness of communication from the seventeenth century to the present, twenty- first century, a vast amount of differences are easily observed. It was much harder to easily and effectively communicate during that time period, due to a number of hindrances. For example, there is a huge technological gap between now and then. One of the more advanced method of communication, and fastest, was by horseback. With this thinking in mind, it was an inconvenience getting a message to your friend five miles away. It meant several hours to get a short message to someone. During present times, it would take roughly ten seconds to get and message to someone on the other side of the world. Additionally, there are many different ways to quickly relay a message, such as by phone, cell phone, email, instant messaging, and text messaging, to name a few. While a primitive mail service existed, it was rather ineffective and not worth the hassle or cost. The main reason attributin g to the increased effectiveness of modern communication is such greater knowledge in regards to technology. It allows for much quicker messages to be sent by a great number of sources. During the eighteenth century, there was a limited amount of ways to give and receive messages. Additionally, each way was time consuming and out of the way, especially when one lived on a farm several miles from any other civilization. Another strong point which greatly displays an ineffectiveness in communication is the attempts during war-time during that era. If an attack was made in Boston, it would take several days for this news to reach New York, and months to reach the war commanders back in Europe. Presently, if something happens in Iraq, government officials will know of the happenings within minutes, depending upon the pertinacity of the issue. Such differences surely make the ineffectiveness of communication during the 1700's obvious in regards to the effective...

Role of Government in Industrial Clusters Essays

Role of Government in Industrial Clusters Essays Role of Government in Industrial Clusters Essay Role of Government in Industrial Clusters Essay The first major issue is that Australian government policy development has largely been focused on descriptive information gathering rather than on achieving either business participation in, or greater understanding of the complex industrial clustering process 5 (Davies, 2001). In many of the failed or under-performing ICC developments, searchers noted that the associated government policy ignored the local and interregional industrial linkages and/or the channels of technology and knowledge transfer that existed, instead relying on relatively simple measures (such as industry size) to detect potential industry clusters. These simplistic measures are a common feature of Australian industrial cluster policy, and formed the basis upon which expensive and complex resource allocations were made (Gordon McCann, 2000). The second major issue surrounds an assumption by Australian policy-makers that he facts explaining the existence of industry clusters around the globe are readily generalist to the Australian context (Soddy, 2000). Of particular concern has been the assumption of Australian policy makers that simply replicating the policy choices of governments associated with successful clusters (such as Silicon Valley) will be successful despite the lack of evidence to support this contention. Body (2000) suggests that there are clear dangers in attempting to reproduce significant policy direction from a relatively small number of specific cases, especially those whose economic performance is inherently atypical. One of the major dangers of incorporating a carbon copy approach to policy development is that of misunderstanding the specific origins and competencies inherent to a regions networks between firms and industry is created and maintained, government policy directed at merely locating firms together appears to omit and/or ignore the most important and dynamic aspects of the industrial clustering process. The third issue concerns the record of Australian governments resource allocation as it pertains the development of industry cluster formation. Fuser and Bergman (2000) note that, at least at the regional level, the approach frequently adopted by policymakers involves little more than the identification of current regional specializations as targets for traditional development initiatives. In such cases, a cluster strategy serves more often as a meaner of allocating scarce resources than as a way to build the linkages and future inter-industry synergies documented so frequently in successful industrial districts (Fuser Bergman, 2000). For example, in Europe, the US and Australia, many planned clusters have failed to materialism spite heavy investments by government into the required infrastructure. The implication is that although setting up the infrastructure may be paramount to the diffusion of industrial clusters, it is not sufficient in of itself to ensure a clusters formation and development. Underpinning these issues is the observed difficulty of Australian policy-makers to conceptualize their role within Porters UDF (Brown 2000; Enriching Roberts, 2001). Indeed, Brown (2000) suggests Australias poor ICC performance is almost entirely predicated on the confused role of government and TTS policy makers, a statement echoed by Porter when he stated that: In Australia, what is less understood is that the government has some positive roles, like innovation and training, infrastructure, and things like that. I think that the real frontier is [understanding] the positive roles to be played by government whilst avoiding the distortion or intervention in competition (in Trains, 2002:39). In order to understand the positive roles that a government can play in the support of entrepreneurial activity and the development of innovative industrial clusters, this paper reports upon an examination of the 25-year history of one of Australias most innovative and internationally successful industry clusters, that of the Tasmania Light Shipbuilding Industry (TLS) cluster. Since its inception, the TLS cluster has grown substantially in terms of its sales volume, innovative output, and impact on the industry overall development as a world-class maritime producer (Industry Audit, 1998). At its peak between 1996 and 1998, the TLS cluster generated an annual turnover of ADD$400 million (accounting for 25 percent of the states merchandise sports), and was fundamental in the development of an industry council that represented and coordinated the majority of the states maritime industry (Industry Audit, 1998). Given its demonstrable importance to the regional Tasmania economy, an examination of the TLS clusters development provides an opportunity to observe the role that government played in the development of an innovative and internationally competitive industry cluster. This research comprised a series of semi-structured interviews with all of the key informants within the TLS cluster and the state government during the period 1977 to 2002. In particular, interviews were conducted with each of the state Premiers during the TLS clusters formation, the managing directors of the TLS cluster firms, and the heads of government departments and agencies with which the TLS cluster had significant interactions. In total 25 semi-structured interviews were conducted, each lasting between 60 and 90 minutes. The interview questions posed to the participants were derived from an extensive collection and analysis of historical data pertaining to the TLS clusters development. As such, the interviews contained both standardized interview questions (I. . Common to all informants) and specific interview questions (I. E. Aimed at the key informants specific involvement in the TLS clusters history), and were formulated to elicit the primary data required to answer the research questions posed in this inquiry. Both the standardized and specific interview questions were formulated to facilitate the aggregation, analysis, and validation of information, and enabled the researcher to interrogate the evidence gathered from other sources. These questions were designed to cover the necessary issues, but were framed in an open-ended manner, o allow the interviewees sufficient latitude for introspection and open reporting of their own perspectives. As a result, the informants were free to pursue those matters that they considered important. This collection of primary data using a semi-structured interview method allowed the informants to tell their own story in their own way, thereby allowing the researcher direct access to the experience of the case (Clinician Connelly, 1994). These individualized recollections aid to strengthen the inquiry by counteracting the bias that may exist in the secondary documents (Burgess, 1982), by adding matters of fact r detail that may only be recorded in individual memory (Samuel, 1982), and by giving voice to those not usually heard (Fontana Frey, 1994). The semi-structured interviews assisted this inquiry in each of these areas, as they enabled the researcher to 7 access facets of the case that would not have been available by any other data gathering technique. The interpretation of the data, and the verification of the conclusions, were facilitated by the use of the USSR NUDE*SIT software package. The interview transcripts were imported into the NUDE*SIT software database, following which the categories (I. E. He coding of the data) were established as a series of nodes. These nodes were initially generated from the themes highlighted in literature review process, formed part of an index system that allowed the researcher to categories respondent data in terms of extant theory. Each node was then reviewed in order to identify common themes necessary for the researchers second- round coding that underpins the discussion and conclusions in this paper. One of the most prevalent concerns surrounding the reporting of longitudinal cycle. Peters and Hood (2000) discuss how the industrial life cycle notion can influence the effectiveness of a governments industrial cluster policy platform. A growing literature base suggests that Who innovates and how much innovative activity is undertaken by an industry cluster is closely linked to the phase of the industry life cycle, and is of vital importance to effective policy implementation (Sleeper, 1996; Leigh, 2003). It is therefore necessary for this research to report on the longitudinal variation in government policy development, and link them to the needs of the TLS cluster over its life cycle. Results. The role of government during introductory stage of the TLS clusters life cycle. During the introductory stage of its life cycle, three key government roles positively influenced the TLS clusters development. The first was the state governments initial non-committal stance towards the specific development of the states burgeoning shipbuilding industry. The second role surrounded the enhancement of the states reputation within the domestic market as a centre for maritime research. The third role was the governments support for the entrepreneurial activities undertaken by Incant, when it became apparent that the company was a potential source of significant economic growth for the regional economy. The state governments initial non-committal stance towards the states burgeoning industry was not a deliberate one, as its policy focus at the time was on the macroeconomic restructuring of the states economy away from its dependence on hydroindustrialisation. Due to this focus on the macro-economic restructuring process, the Tasmania government did not at any stage pre-empty the growth requirements of the potential industry cluster. As such, the Tasmania government avoided the issues surrounding many of Australias industrial cluster failures of the sass in which governments built up the infrastructural support to potential industries in the hope that this would attract firms, as for example, the federal and South Australian government did with the failed multi-function polis planned for Adelaide. Consequently, the development of the innovative technologies (I. E. The development of elements of Porters firm strategy, structure and rivalry) remained the sole responsibility of the private sector firms that existed during the industrial clusters initial formation (I. E. Clifford and his maritime friendship network). 8 The second key role was the state governments development of the regions petition within the broader domestic maritime market as a national centre for maritime research. The Tasmania government implemented a series of lobbying initiatives that resulted in the federal government providing additional funding to the Australian Maritime College and relocating its national maritime research institute (the CAIRO) to Hobart. These state government lobbying efforts were largely aimed at the federal government rather than the private sector, but their success had implications for the regions Factor Conditions, Related and Supporting Industry, and y developing the regions supply of human capital through both the generation of specialized employment and education within the broader industry. The regional economys related and supporting industry factor was advanced by the increase in the sophistication of supply of inputs to the private sector firms (in terms of products and world standard maritime research). The Tasmania governments enhancement of the regions reputation helped to develop the demand conditions faced by the private sector shipbuilding firms, most significantly in the from of customers ready to import their products from interstate. It was only after the domestic exporting success of Incests innovative semi-aluminum catamarans in the early sass were realized that the Tasmania government undertook its third key role, that of accommodating the growth requirements of the innovative cluster firm. Although the Tasmania government did provide its first direct support for Incests innovative management in the introductory stage of the TLS clusters life cycle, it did so only after the firm was able to demonstrate the potential in the domestic Australian market for fast-ferry transportation. The Tasmania governments support for Incests innovative capacity was provided only when the firm could demonstrate that it did not possess the resources required for its continued expansion. The Tasmania government also required evidence that their support of Incests expansion would result in additional Jobs being created within the firm. This initial government support is consistent with the recommendation of Porters CT, as it allows for the challenges facing the burgeoning industry to be overcome whilst avoiding the inefficiencies associated with the governments direct involvement in private sector enterprise. The role of government during the growth stage of the TLS clusters life cycle. During the growth stage of its life cycle, three key government roles positively influenced the development of the TLS cluster. The first was the Tasmania governments continued effort to enhance the reputation of the regional economy, although the focus of these efforts changed from a focus on the domestic maritime market to one that encompassed the international market for Incests fast-ferries. The second was the Tasmania governments direct involvement in Incests sales and negotiation processes with their international customers. The third was the Tasmania governments policy initiatives that served to maximize the synergistic relationship that existed between Incant and its supplier firms. The first of the state government policies that positively influenced the development of the TLS cluster was the continued enhancement of the regions reputation as a centre 9 for maritime excellence, although the policy focus changed markedly to encompass the international marketplace. This change in focus was driven by the continued Through the use of government sponsored trade missions and the associated agitation activities, the Tasmania government used the success of Incant to illustrate the regions maritime competency to international buyers of these products, in turn facilitating an increase in the international demand conditions for Incests production. The Tasmania government also applied pressure on the remainder of the TLS cluster firms, and indeed the regions maritime industry as a whole, to similarly increase the quality of their production in line with the growing international reputation of the region. The Tasmania government helped the regions shipbuilding and maritime manufacturing firms to achieve high quality reduction by maintaining its existing lobbying efforts for additional infrastructural funding for the industry. Specifically, the Tasmania government undertook political action to secure additional funding for the educational and RD requirements of the industry. As with its direct support for Incests needs, however, the Tasmania government only lobbied for additional federal government funding after its need was recognized by the private sector, and where the private sector firms could demonstrate that these needs were necessary for their future growth. The Tasmania governments reputation enhancement strategy served to increase the Demand Conditions enjoyed by the states shipbuilding industry, and in particular, for the output of the regional industry innovative firm, Incant. It also served to apply a degree of pressure upon the Incests suppliers to similarly improve their production output in line with the growing prestige of the region. The second role undertaken by the Tasmania government was that of direct support during Incests sales negotiations with their potential international customers. This was directed by the incumbent state Premier at the time, through his department of economic development, most notably in the form of funding for international customer visits to Incests factory, but also by having the Premier accompany the potential customer during their visit. As a result of the state governments policy initiative to become involved in Incests sales negotiation process, it provided a level of prestige, moral support and sales expertise that was otherwise beyond the ability of the hub-firm to provide. Indirectly, this policy also served to highlight the supplier firms within the TLS cluster, as their inputs into Incests final product were also purported by the state governments involvement in the sale. In terms of advancing the Diamond Factors, the Tasmania governments second policy initiative served to develop the regional industry firm strategy, structure and rivalry by state Premiers personal endorsement of the TLS clusters output. It also served to align the TLS cluster firms goals with that of the state government by pressuring all of the individual firms to innovate their products in line with the requirements of the innovative Incant. In terms of advancing the Demand Conditions enjoyed by the regional industry, the Tasmania governments involvement served to enhance the legitimacy of Incests product to potential international customers. The third key role undertaken by the Tasmania state government was to undertake measures to deliberately maximize the synergistic relationship that existed between Incant and its supplier firms. Inherent in Porters CIT is the notion that within a clustered network of firms, some forms of scale or scope economies exist through which the industrial cluster develops an internationally competitive advantage. Through its development of marine parks and industrial councils (in which firms implementers to Incests operations can more easily interact) the Tasmania government deliberately enabled the realization of the synergies of both scale and scope inherent to the regions natural industry. The third state government role served to advance the diamond factors by developing the firm strategy, structure and rivalry and the Factor Conditions enjoyed by the TLS cluster firms in residence at the Prince of Wales Bay marine park in Hobart. With the TLS cluster firms in close geographic proximity, the individual firms were better able to communicate and ordinate their interrelated production and training activities, as well as allowing them to access the advanced and specialized (and expensive) infrastructure developed for the marine park. The role of government during the maturity stage of the TLS clusters life cycle. During the maturity stage of its life cycle, three key government roles positively influenced the development of the TLS cluster. The first key role was the continued enhancement of the regional economys reputation as a world centre for maritime manufacturing excellence, although the focus of its efforts hanged from the singular promotion of Incests success to incorporate the production of the entire set of industry members, be they cluster firms or otherwise. The second role was to formalism the relationships that existed within the regional shipbuilding and marine manufacturing industries. The third role was the governments deliberate strategy to dilute Incests importance and impact upon the regional economy. The first key government role was its continued enhancement of the regional economys reputation as a world centre for maritime manufacturing excellence. During the maturity stage however, the focus of the Tasmania governments petition strategy in the world shipping vessel market changed from the singular promotion of Incests success to incorporate the output of the entire industry, be they TLS cluster firms or otherwise. The functional strategies incorporated by the Tasmania government included trade missions, direct involvement in the international sales negotiations process, and the provision of marketing assistance to the industry. The marketing assistance provided to the industry was specifically targeted at generating a consistent message for all of Tasmania firms in the international marketplace. The policy to incorporate the entire set of cluster firms developed the demand conditions for the regional industry, with the region now marketed as a one-stop- shop for a wide variety of innovative and high-quality maritime production, not simply fast catamaran production. The state government could afford to undertake this marketing strategy given the success that the TLS cluster firms had enjoyed both the growth stage of the TLS clusters development, each of the supplier firms had secured their own export sales independent of those associated with their alliance with Incant. Further to this, two additional TLS cluster firms, Lifeboat Systems and Richardson Divine, emerged within the industry and enjoyed immediate export success, largely due to their association with Incant and the innovative and valuable nature of their output. 11 The second key role was to formalism the relationship between the regions entire set of shipbuilders and maritime manufacturers (TLS cluster firms or otherwise) and the state government. After the Prince of Wales Bay maritime park was established by the Tasmania government, the private sector firms, along with the Aluminum Welding School, formed the Tasmania Maritime Network (TEN) within which the TLS cluster could better develop its communications and lobbying efforts. After the Bacon Labor governments industry audit program of 1998 was completed, the TEN was restructured to form an Industry Council that represented approximately 85 percent of the regions shipbuilding and marine manufacturing firms. The Industry Council program sought to provide the regions shipbuilding industry with a direct communication and lobbying channel between the industry as a whole and the Tasmania government. The Industry Council arrangement also helped to ensure hat that the set of firms within the industry could better incorporate the success factors of the TLS cluster into their operations, and therefore become involved in the process of further developing the regional industry Firm Strategy Structure and Rivalry to comply with world-best standards. The third key role was the Tasmania governments strategy to dilute Incests importance and impact within the regional economy. The policy was implemented through the attraction of additional innovative shipbuilding firms to the region (producing vessels unlike those of Incant) in the hope that the TLS clusters supplier rims would have alternate sources of sales opportunities incremental to that of Incant. The Tasmania government was able to attract additional innovative firms through marketing the regions advanced infrastructure, support that was initially provided solely for the benefit of Incant. Where needed, the Tasmania government also provided the option to undertake an equity arrangement with the new hub- firms, an arrangement that involved funding of the new firms relocation and start-up costs, but did not involve the state government intervening in the innovative process of the firm. This policy initiative had a direct impact on the diamond factors enjoyed by the TLS cluster (and indeed the entire industry) by effectively driving incremental demand from the international marketplace for regions maritime production. In addition, it allowed the TLS clusters supplier firms to develop exponentially greater linkages within the industry, and more importantly, with firms of similar importance as the original huffier in terms of their innovative ability and supply requirements. The travel and trading needs of the isolated Tasmania community necessitated the