Saturday, January 25, 2020

Case Study Of Qatar Diar Commerce Essay

Case Study Of Qatar Diar Commerce Essay The real estate industry is a development process that involves establishment of real estate in prepared land by individual, government or developers. In this work Qatar was chosen as the country and Qatar Diar as the real estate company. To support growing economy of Qatar with an eye to manage Qatars real estate development priorities Qatar Diar was established in the year 2005 by Qatar Investment Authority (QIA) which is the autonomous wealth fund of Qatar state. Northwest of Doha and on the coast of Arabian Gulf Qatar Diars headquarter is located. It started with $1bn capital. Its main concern was investment in real estate and community based projects. Since the start the company has worked on its portfolio which is worth $60bn estimated through its global investments. Vision and Mission: Qatar Diars vision is to be the finest real estate company in the world by valuing consumer imagination, cultural values and inspiring relations. Companys vision statement is so far being honest with its vision. It has since its incorporation focused on luxurious ventures. Despite the fact that Qatar hasnt seen booming real estate bubble like its neighbour UAE Qatar Diar has provided with excellent opportunity to represent Qatar in the real estate market. Mission of Qatar Diar is to improve quality of life of Qatars people and in places they will have project by creating distinguished grand development projects by valuing top industry standards. Since the beginning the company has worked on the standard of its developments and it is evident from the projects they have done so far. More discussion on that will be in the next section. Projects of Qatar Diar: In a short span of time Qatar Diar has managed to create a global portfolio of real estate projects. At present the company has projects in Qatar and GCC, Asia, Europe, The Americas and Africa. Companys first project was Lusail City which was launched in December 2005 and soon it gained momentum. It wasnt long when Qatar Diars innovative outlook started gaining praise for its work. This city is progressively self-contained which is the largest singleton real estate development undertaken in state of Qatar. Although the project hasnt completed yet but Lusail have already created buzz about Qatars grand scale vision on next generation of developments. Qatar Diar already has become synonymous to quality. Lusail Real Estate Development Company started its journey in September 2008 to operate the expansion, construction and other development operations in legendary Lusail City Development. In 2009 November under Qatar Diars flagship Qatar Railways Development Company was established which was of significant value for its portfolio. This company brought Qatars vision of creating a fully integrated national rail network and this regions first ever integrated railway system into reality. In parallel with its developments in Qatar, Qatar Diar has always been committed to focusing on international market simultaneous to domestic market. Not only life of Qatars people was touched by Qatar Diar but also it has touched million people through its worldwide development ventures. As of now it is now one of the most famous, trustworthy, respected real estate company. It has become possible because of its continuous commitment to quality service, developing communities with state of the art innovative designs, worthy partnerships and trademark sustainability promise. In January 2012 report released by Qatar Diar it has US $4 billion capital with currently undergoing 49 projects solely in Qatar related to development and planning. Also they have projects in 29 countries all around the world which combined can be valued at US $35 billion. Strategic Business Management and Planning Tool: Every business operates in micro and macro environment. To be successful in this competitive age every business have to have strategy for its operations whether its company management or marketing its products. For a company like Qatar Diar it has greater responsibility towards its wider stakeholders. For the purpose of this study focus will be given on two widely used strategic tools. SWOT Analysis PESTEL Analysis SWOT Analysis of Qatar Diar: SWOT which stands as an abbreviation of Strength, Weakness, Opportunities and Threats is a widely used tool to analysis an organisations current standing in the business environment. It also looks into the future considering current competitions. This is a comprehensive planning tool where internally it focuses on strengths and weaknesses of an organisation at current state and looks into external impact factors in forms of opportunities and threats (Sadler, 2003). http://www.lindsay-sherwin.co.uk/guide_managing_change/images/01_swot_1.gif Figure : SWOT to Business Strategy (Sadler, 2003) From both external and internal appraisal Confrontational questions are generated. For every single Opportunity which strength element can assist the company to take advantage of the opportunity and which weakness can form a barrier to do so. For every single Threat which strength factor can lead to compete with the threat and which weakness can bound the company not to do so. Following SWOT analysis examines Qatar Diars Strengths, Weaknesses, Opportunities and Threats considering its present scenarios. Strengths: Strengths of a business are all the positive elements that it do exceptionally well and generally are under its control. The strengths of a company gives it competitive edge over other business competitors. Often a company will emphasis on its strengths to reach to new dimensions. Below is a list of strengths for Qatar Diar. Having associations with other robust and prevalent businesses around the globe is a major advantageous point for Qatar Diar as it helps bring in new clients and make business more operative. Qatari Diar since beginning have formed strong alliances in form of joint ventures with construction and management firms. In 2008 it signed agreements with Germanys Hochtief; in 2009 signed agreement with Germanys Deutsche Bahn to form the Qatar Railways Development Committee (QRDC). Under this committee, the Qatar Railways Company manages the expansion of Qatars $35bn rail system. In 2010 it joined with Frances Vinci Construction. Being a market leader, as Qatar Diar is, is key to their success as it increases status, revenue and market share. Under Qatar Diar there are several key real estate development is ongoing which gives Qatar Diar additional advantage. Innovation is a vital component of Qatar Diars overall accomplishment, as this retains them way above the other real estate companies. Riding high in the niche market in Real Estate industry has helped boost Qatar Diar and raised reputation and turnover. It has so far focused on high end luxurious projects. Not only they have ambitious projects in Qatar but also in several other countries with high profile construction work in prime locations. The US $1bn expansion of Londons past Chelsea Barracks is one such instance. The establishments developed by Qatar Diar are sustainable modern, meaning this high valued clients will return to Qatar Diar for future projects. Qatar Diars marketing strategy has proven efficiency. Which helped the company to raise profiles and profits and standing out as a major strength not only in gulf region but in the world. Qatar Diars innovation keeps it a leader in Real Estate as it is frequently implementing new proprietary technology and design. Experienced employees are key to the success of Qatar Diar helping to drive them forward with skill and knowledge. For example in March 2012 Qatar Diar appointed thirteen international law organisations to Qatari Diars six legal boards. High quality machinery used in sites, experienced staff, offices and equipment guarantee the job is done to the utmost standard, and is a strength of Qatar Diar. Qatar Diar has a widespread client base, which is a key strength regarding profit. Qatar Diar is spread in all over the globe in prime locations. Being financially strong helps Qatar Diar deal with any problems, ride any dip in profits and out perform their rivals. Qatar Diar has state backing which helps them to stay strong in volatile market. Qatar Diar has emerged as a strong brand which is an essential strength. Qatar Diars international operations establishes its authority over the business. 2012 World Cup will be held in Qatar. Before then the company will have some of their high profile projects finished which will enable them to capitalize the event. Weaknesses: Weaknesses of a corporation are things that should be improved for a better result; which are under their control. Weaknesses puts a business behind its competitors and create barrier to achieve its target. This section will present core weaknesses of Qatar Diar Global economic crisis will have an adverse impact on the sales of high end products. As more and more people are trying to hold their money in safe investments. Qatar is yet not as promising as UAE which is first preference among many client. Legal issues that buyers may face for the developments is still an issue for Qatar Diar as this creates barrier for potential customers. Opportunities: Opportunities are external deviations, drifts or desires that could improve the business or organisations strategic positioning, or which could be of a benefit to them. This section will summarize opportunities that Qatar Diar currently have. Qatar Diar gets direct backing from Qatar Government which allows them to have additional support when they go overseas or even inside the country with grants and favourable policies. Sudden change or adaptation of technology could give Qatar Diar an opportunity to strengthen future success. Use of social media network to promote its products to target markets may open new windows for them. Qatar Diar is in respectable monetary position, which is an opportunity for them to explore in terms of investment in new developments. Qatar Diar has the opportunity to enter niche market with their ever favourable government support to maintain leading position and therefore lift financial performance. Grasping the opportunity to magnify the customer base is something Qatar Diar can aim for, either geographically or through new products. Qatar Diar has planned to take its innovative developments to other countries in coming time. Qatar Diar can also explore takeover and merger opportunities could be explored for Qatar Diar and which later can be used to acquire new customers, new resources and enter new markets. Threats: Threats are reasons which may confine, harm or put areas of the business or organisation at jeopardy. They are factors which are external of the companys control. Being conscious of the threats and being able to prepare for them makes this section valuable when considering contingency plans and strategies. This section will outline main threats Qatar Diar is currently facing. Consumer lifestyle changes could lead to less of a demand for Qatar Diar products/services. A slow economy or financial slowdown could have a major impact on Qatar Diar business and profits. Rising costs could be a major downfall for Qatar Diar as it would eat into profit. PESTEL analysis of Qatar Diar In the macro environment there are many factor that affects decision making process of organisation. Changes can come in form of law change, trade barrier, impose of tax, demographic change along with government policy changes. These all are changes in the macro environment (Bennett, 2002). We can use PESTEL model to assess and analyse most of these factors. This arrangement differentiates between: Political factors. These factors denotes various government policy for example the degree of involvement in the economy. Which products and services the government wants to promote? Which areas will receive subsidy? Political factors can have tremendous impact on numerous important areas of business. It will determine how healthy the nation is and in terms of infrastructure how good it is i.e. road and rail network throughout the nation. Economic factors. Economic factors includes but not limits to purchase interest rates, taxation charges, slow or high economic growth, inflation and exchange rates. To understand how it might affect a business with high impact lets see the example: higher interest rates might discourage investment since it costs extra to borrow a strong currency may make exporting more problematic because it may increase the price in terms of foreign currency inflation may aggravate higher wage demands from employees and increase costs   higher national income growth may boost demand for a firms products Social factors. Changes in social tendencies can influence on the demand for a firms products and the accessibility and readiness of persons to work. In Qatar Diar most of the workers are from different countries. If they cannot offer a competitive salary with other benefits there might be issue with finding right people. Also in 10 years time there will be Fifa 2022 World Cup in Qatar this might mean there will be additional interest for people to get involved and invest in properties. Technological factors: new technologies generate new products and new procedures. Social networking, online shopping, online booking and computer aided design are all developments to the way we do business as a consequence of improved technology. Technology can lessen costs, improve quality and lead to innovation. These expansions can help customers as well as the groups providing the products. Qatar Diar has access to latest technologies in their work bases which helps them to minimize cost and maximize opportunities. Environmental factors: environmental factors comprise the climate and environmental changes. Tourism industry can get hugely affected by temperature change or issues like changed climate. Due to global warming slowly there is significant environmental awareness which indicates that it is not a problem of a region. Qatar Diar also has implications of environmental factors. Sustainable growth will mean that there will be less scope for doing non-environmental friendly tasks. The recent trend of being more environmental friendly is something Qatar Diar can work on to build up campaign or similar movements which will be beneficiary for the business. Legal factors: These factors are significant for a business in terms of the geographical area where they are based on. For example discriminations on the basis of age, sex, religion can have huge adverse impact on a businesss operation. Following laws of different country is also important as most of the time they does vary geographically. Also lawsuits can cost a company fortune. So having sound legal advisors are a must. Qatar Diar has an experienced panel of legal advisors to assist them with development planning. Different categories of law that has direct relation with Qatar Diar includes: consumer laws; these are intended to guard customers against biased practices such as ambiguous descriptions of the product competition laws; these are designed at protecting trivial firms against oppression by larger firms and safeguarding customers are not exploited by firms with monopoly influence employment laws; these cover parts such as dismissal, sacking, working hours and minimum wages. They aim to defend employees against the misuse of power by bosses health and safety legislation; these laws are aimed at guaranteeing the workplace is as safe as is sensibly practical. This legislation covers important issues such as training, accident reporting and other provision for safety equipment. Classic PESTEL features to ponder comprise: Factor Could include: Political e.g. Qatar government involvement in real state policies, investment agenda Economic e.g. inflation, credit crisis, national debt, exchange rates. Social e.g. view towards certain products, demographic characteristics, income Technological e.g. technological advancement, new ICT product, social networking, new product development by using new technology, rate of technological obsolescence Environmental e.g. global warming, climate change, natural disasters and other environmental issues Legal e.g. laws that company is abide by. competition law, health and safety, employment law However, it is significant not to just list PESTEL factors as this does not in itself tell very much. What business strategic management team need to do is to work out which of the many listed factors may change. For example as a government holding company Qatar Diar will more or less have favourable policies from the government. Problem will arise when it goes to a different geographic location. Qatar Diar has a global portfolio that makes it challenging to take into consideration all the wider aspects of all its development activities. In order to assess a big company like Qatar Diar it will be a good idea to distinguish between factors in terms of local, national and global (Drummond,2001). For example, we can evaluate Qatar Diars PESTEL factors as: Local factors such as designing a government project and its approval. National factors such as government law regarding recruiting people for the construction. Global factors such as entering into new market zones and its impact on business. Conclusion: This paper has looked into Qatar Diars business management from a strategic point of view. It is not long since the business was established. Getting world recognition in such a short time is really uncommon in todays world. Qatar Diar has proved how innovative approach in real estate industry can shape its future. Strategically, Qatar Diar has been lucky to have state support throughout its operation. Thanks to its joint ventures it has seen its growth over 29 countries. In coming years Qatar Diar will reach to its peak and probably 2022 will be a milestone year for Qatar Diar.

Friday, January 17, 2020

Advancement in computer graphics

Since the dawn period of video graphics, graphics developers had to depend on complete knowledge of the hardware they were working with. This knowledge came from lots of experimentation and electronics know-how. (Rickitt, Richard. 2000.)Games, such as Pong or Asteroids, graphic designers had to have a good knowledge of what every chip on the game motherboard could provide them.They were required to be fully aware of the amount of memory they might require like colors and sounds etc. some times they had to get through with the manufacturers to get assistance in designing chips that cater to their requirement.Sound and graphics were primitive at best, but they worked. Since these early games were in fact a pioneering attempt, they also had to generate new user controls to work with. (Ritter, R. (2002)Early DOS games were dependent on knowledge of machine and assembly languages to enter the OS’s lower levels. With the passage of time, more intelligible languages were introduces, such as BASIC and LOGO; though, they didn't have the potential of assembly language.Next innovation in language world was Pascal and C. With C, game developers could design advanced code routines devoid of having to work with tons of assembly code, therefore making graphics easier. Very soon C language became the preferred language of graphic designers. (Timo Aila, 2003)With these language changes, one difficulty remained. To develop high-quality games, developers still required a thorough knowledge of the hardware they were running with. There was no need to know every chip's capabilities, however they had to know things such as video cards, sound cards, and input devices. They also had to cope with memory constraints, which were turning out to be a hindrance to graphic designs.Along Came WindowsAdvancement in computer operating system it turned out to be very easy to maintain specific standards in the computer industry. These standards consisted hardware interfaces, video memory s tandards, sound standards, and CPU memory specifications. Yet, there was still a lot of conflict within the industry, and lots of hardware turned out to be unsatisfactory. Consequently, numerous games developed in Windows faced a lot of problems.Microsoft understood this problem early on and emphasized its efforts on improving its environment and working to improve performance for the parts of the operating system that cater to game and multimedia requirements.These efforts were obvious in Windows 95, one of the first operating systems that produced reliable hardware-software interaction a reality. Since all hardware companies had to meet a comparable standard and Microsoft controlled how its operating system responded to the hardware.In the DOS days, you had to build your own drivers for every type of video card, but with Windows, you had to develop to only one standard. In spite of spending time producing and understanding numerous hardware specifications, designers relied on Micr osoft to do all that for them and wrap up it for their use in the OS.There was one flaw with all of this. Windows was initially designed for homes and offices not for professional multimedia development. It lacked little necessary items that had become trademark in the multimedia market mostly graphics speed, DOS was better then windows.It was the same hardware, but there were many more layers between the developers' code and the hardware they wanted to control. The effect was that a lot of developers deserted the idea of Windows game development and depended on the Windows capability to disburse to DOS.After Microsoft understand that game developers agreed with its idea but reluctant to give up the performance they had become used to in DOS, Microsoft started exploring ways to facilitate developers to reach that hardware layer. Some of the initial attempts involved WinG, WinToon, and OpenGL.Wings become popular at the time of Windows 3.1 and Windows for WorkGroups. WinG was the fir st try at a complete graphics API (Application Programming Interface) library to eradicate the limitations of the Windows API.WinG rendered high-performance graphics system that could be accessed through Windows game development world to that community who worked completely in DOS.WinToon worked as first API system for Windows 95 that supplied the potential of easy animation playback. API also provided better performance as compared to existing Windows 95 APIs. Thus it aided to improve the multimedia playback capabilities of animation programs for instance kids' games and educational programs.OpenGL is a powerful set of APIs that let the developers to cut through the Windows red tape to integrate some of the hardware procedures of 2D and 3D graphics. Unexpectedly, OpenGL was not the product of Microsoft; instead it was introduced by Silicon Graphics, Inc.These technological advancements were an enormous boost, but eventually turn out to be short. As the game market boosted and the r equirement for more games on the Windows 95 platform rose, Microsoft developers went back to work.What they came up with was the Windows 95 Game Software Developer's Kit (SDK), which introduced the first version of DirectX. DirectX was actually restricted for the computer game industry but has evolved to embrace other areas, for instance, improvement in the arcade business and handheld Windows CE devices.As DirectX has improved, Microsoft rendered network support, in addiction with force feedback support, and 3D graphics capabilities. When ever improvements are required, the DirectX team has gone on to improve the performance of this amazing software library. (John Owens. 1983.)Video graphics games fueling hardware growth and hardware in turn fueling games will continue on. Thus the future of video games will most likely be tied to the future of graphics hardware and tactile hardware. With the introduction of the DirectX 8.0 API and same type functionality in OpenGL, GPUs increased programmable shading to their functions.The entire pixel could now be achieved by a short program that could involve additional image textures as inputs, and every geometric vertex could similarly be processed by a short program before it was shown on the screen. nVidia introduced chip capable of programmable shading, the GeForce 3 (widely known as NV20).By October 2002, with the introduction of the ATI Radeon 9700 (also known as R300), the world's first Direct3D 9.0 accelerator, pixel and vertex shades could implement looping and lengthy floating point math, and in general were soon becoming as flexible as CPUs, and orders of magnitude faster for image-array operations. (Dan McCabe 1998)Nowadays, parallel Graphics Processing Unit have   started computable graphic inroads against the operating system, and a subfield of study, dubbed GPGPU for General Purpose Computing on GPU has paved its way into areas as diverse as oil exploration, scientific image processing, and even stock opt ions pricing determination.There is increased pressure on GPU manufacturers to update hardware design, generally emphasizing on adding more flexibility to the programming modelBibliographyBartle, Richard A, 2003,Designing Virtual Worlds , 1st Edition, New Riders Dan McCabe and John Brothers. DirectX6 Texture Map Compression. Game Developer Magazine,   August 1998John Owens. EEC 277: Graphics Architecture. Technical report, 2005 Lance Williams. Pyramidal Parametrics. In Computer Graphics (Proceedings of ACM SIGGRAPH 83), pages 1–11. ACM, July 1983.Ritter, R. (2002). The Oxford Style Manual. Oxford University Press. Rickitt, Richard. Special Effects: The History and Technique. New York: Billboard Books, 2000.Timo Aila, Ville Miettinen, and Petri Nordlund. Delay Streams for Graphics Hardware. ACM Transactions on Graphics,, 2003

Thursday, January 9, 2020

Marketing Strategies at Primark PLC - Free Essay Example

Sample details Pages: 20 Words: 6008 Downloads: 1 Date added: 2017/06/26 Category Statistics Essay Did you like this example? 1.0 Introduction The research report under consideration is aimed to explore the significant role played by Marketing Strategies in todays modern and dynamic business environment. Marketing has gained substantial importance and has become first priority of decision makers in any organisation. This document presents a research report analyzing and forecasting marketing environment faced by leading retailer Primark with special focus on competitive analysis. Don’t waste time! Our writers will create an original "Marketing Strategies at Primark PLC" essay for you Create order Primark Stores Ltd, an Irish upstart and subsidiary of Associated British Foods, is second largest clothing retailer in terms of sales and revenue with its existence mainly in Ireland, UK, Spain and expanding further in the Europe. It is believed that soon it will become leading clothing retailer. This extensive research is aimed at exploring current marketing strategies adopted and evaluating their effectiveness. The critical review of current segmentation, targeting, positioning and branding strategies of Primark and an extensive market analysis is carried out to suggest future marketing strategies and growth areas and to improve and sustain quality of services provided. The expected outcomes of document are recommendations to use marketing strategies tactically in decision making to enjoy sustainable growth. 1.1 Reason for choosing the topic I have selected this topic realizing the fact that in todays intensively competitive business environment, financial successof any company depends on combined efforts of its financial strategy and marketing strategy. In fact, only those companies thrive in business who works closely with their customers; and, marketing has become a successful tool to create a relation with customers indirectly. From small to large, every organisation is realizing that effective marketing strategies can add value and exert tremendous influence over their ability to attract customers, leaving positive impact on companys performance and profitability. Marketing is defined as management process that identifies, anticipates and satisfies customer requirements profitably. It involves integrated analysis, planning and control of marking mix variables (Product, Price, Promotion and Distribution) to satisfy both individuals and organizations objectives (Lancaster and Massingham, 1999). Marketing Environment consists of actors; and forces outside that affect marketing managements ability to develop and maintain successful relationships with its target customers (For further information on Marketing Environment, see Appendix I). 1.2 Reason for choosing Retail Industry and Primark Reason for choosing retail industry for research project is because it is a high profile and constantly changing business at the sharp end, but now-a-days, retail industry in UKis under high pressure as key factors like troubled mortgage and housing market, rising fuel prices and utility bills, high interest rates in UK are challenging retail environment as compared to years of strong growth between 2002 and 2004. Formally retail is defined as sale of commodities to household or ultimate consumers (Barry and Evans; 1986).Retail industry can be categorised in various sectors as food retailers, health and beauty retailers, clothing and footwear retailers, home furniture and household goods retailers etc. But now discount, budget or value retailing in UK has taken on a higher profile over recent years despite effects of recession. Especially interests have largely centered on growth of value or discount clothing retail industry. The organisation under focus in this report is Primark known for selling clothes at budget end of market and it is second largest clothing retailer in UK in terms of sales and revenue. Reason for choosing Primark is its wonderfully sustained growth in the worst recession times of history. Retail clothing industry is a fast moving and complex, high profile and constantly changing business environment which demands that marketing process of a large retail organisation like Primark should be managed strategically. Report is aimed at evaluating marketing strategy of Primark and to determine its effectiveness. 2.0 Primark: A Brief Overview Of The Business Primark is a brilliant and unique organisation with a mission statement to enrich the life of everyone with fashionable clothing regardless of social status. It emerged as major force in the British retail industry, contributing through its low price value and great quality fashion products for everyone in society as a whole and leaves remarkable impact on social, environmental and ethical behavior of people. Primark does not rip off its customers and presents excellent example of it motto which states look good, pay less Primark, (2010). Most of their clothes are bought from same factories as other fashion retailers and people producing them are paid exactly the same whatever label and whatever price in shop. Companys success is based on sourcing supply cheaply, they buy directly from factories without involving any agents, making clothes with simple designs and fabrics, only making them in the most popular sizes, buying stock in huge bulks and varieties and targeting young, fashion-conscious buyers under 35s, offering them high quality, fashion basics at value for money prices. They are able to offer such good value and good quality because of low mark-ups and big volumes. Their overhead costs are extremely low as they do not run expensive advertising campaigns; instead they have wonderful strategic marketing approach that stands them out. 3.0 Marketing Strategy Of Primark Retail clothing industry is a fast moving and high profile business environment which demands that marketing process of a retail organisation should be managed strategically. Strategy of an organisation is roadmap towards attainment of its long term goals and objectives. Strategic marketing management involves implementing principles of strategic management in the context of marketing function in organisation. At corporate level, marketing inputs (e.g., competitive analysis, market dynamics, and environmental shifts) are essential for formulating a corporate strategic plan. Primark has well organized strategic Target marketing and Product marketing approaches in place. 3.1 Target Marketing Approach Strategic marketing is about achieving maximum possible differentiation over competition in meeting customer needs, gaining and sustaining competitive advantage and capitalizing on corporate strength and capabilities. In todays dynamic environment, it is highly important for companies to relate characteristics and attributes of their products to customer requirements more closely. Firms are more concerned with the most commercially attractive segments of market for a given product. This not only increases opportunity but also reduces overall costs incurred by company. This process is called target marketing and it must be carried out systematically to be effective and for this purpose it can be divided into three stages as in Figure; 3.1.1 Segmentation At first stage of segmentation, overall market is divided into distinct groups of buyers who are likely to respond favourably to different products, services or marketing mix. Company needs to determine most appropriate basis for segmentation, identify characteristics for each segment and develop criteria to evaluate their commercial attractiveness and viability. Market segmentation allows managers to see clearly the diversity within their markets and uncover opportunities that may exist or segments whose needs have not been properly met by other offerings. Figure, depicts segmentation criteria for consumer market, determines base of segmentation and explains variables for each base As Primark is tagged a value clothing retailer, clothing is most important and leading item in its product portfolio follower by footwear. Its marketing segments are evaluated on basis of clothing and footwear. Although all above determined segmentations bases and variables are important but demographic factors are the most straight forward base for segmenting Primarks consumer market, as they are most meaningful. Main demographic variables for Primark consumer market are identified as in charts below. All demographic factors are identified according to their percentage relative attractiveness for targeting them depending upon their market share for Primark. Hhighlighted segments in diagrams are identified as most meaningful for Primark and they must be targeted to gain marketing objectives. 3.1.2 Targeting Next stage of market targeting focuses on evaluating and selecting one or more previously identified market segments at which to direct marketing resources, developing an appropriate marketing mix for them and develop segment coverage strategy. This selected segment is made focus of comprehensive marketing plan. Kottler (1984) suggested that in order for market segmentation to be effective each of the segments must be distinct, assessable, measurable, and profitable. Once determined which segment attractiveness factors are important, evaluate each of those factor against selected segments using segment attractiveness evaluation matrix below; There are four different targeting approaches can be considered to develop marketing mix to meet marketing objectives. Undifferentiated marketing is used for one marketing mix, targeted towards whole market and marketing mix (Price, Place, Product, Promotion, Distribution), and targets towards everybody. Differentiated marketing is used for multiple marketing mixes and involves multiple products, targeted towards multiple segments. Focused marketing is for one marketing mix and multiple segments with focus on one segment in particular, who will have control over other segments. Customised marketing is used for one marketing mix per customer as in figure below; For Primark, targeting strategy that I have decided to use is differentiated marketing strategy because we have multiple products and consumers can be segmented into multiple segments, hence best approach to be followed is differentiated marketing approach. Different segments identified are based on age, sex, life style, income level and social status and we have multiple products portfolio that can be targeted towards these various segments. 3.1.3 Positioning In third phase of product positioning all marketing mix elements are designed to fit a given place within a particular segment. This is how consumer perceives products relative position to competitors product which is highly important. It is like developing a marketing strategy aimed at creating and maintaining a desired concept and image for a product or service in consumers mind (See Appendix V for further information). Key to success is identification of attributes that are considered to be more important. Through market research we can identify what factors (attributes) are key drivers of a consumers preference for a brand. For instance, it was identified from a sample of female teenagers that were surveyed, that being trendy and stylish, having a good range of clothing, and good brand reputation, were most important factors for this target market when selecting a preferred brand Young Dimension of fashion retailer Primark. Brand positioning provides insight into brand performance and gives important inputs for marketing communications used to support a brand. Through communications, especially advertising, information can be conveyed about each attribute and in doing so adjust perceptions customers have of brand. As Primark need to reposition the perception market has of its brands from range and quality of clothing to be more trendy and stylish. Primark has emphasized more on in-store service and convenience; and as Budget Fashion retailer, they might want to maintain their current positioning of low price, affordable, but also good value for money. 3.2 Product Marketing Approach A companys performance is closely linked to its marketing strategies. Each companys strategy must be unique since each company is different with respect to customer, brands and competitors. I used Ansoff Matrix to determine product marketing strategies for Primark to set the directions for its business. With this matrix; I plot current and potential products along one axis and current and potential new markets along other axis. Thus it demonstrates low and high risk options and helps to think about business growth with new or existing products in new or existing markets. Each cell of matrix suggests a particular strategic approach. Output from Ansoff matrix is a series of suggested growth strategies. Market penetration is a growth strategy where business runs as usual and focuses on selling existing products into existing markets with good information on competitors and on customer needs. Primark can maintain or increase market share of its current products by a combination of competitive pricing strategies, advertising, sales promotion. Primark has extensive portfolio and it cans secure dominance of growth markets and drive out competitors by more aggressive promotional campaign. For example Primark brand Active, supported by a pricing strategy designed to make market unattractive for competitors. Primark must uses internal promotion strategy by introducing loyalty schemes and increases its usage by existing customer. One of penetration strategy adopted by Primark is expansion of shop floors and opening new stores. Market development is a growth strategy where business seeks to sell its existing products into new markets. There are many possible ways of approaching this strategy, including moving to new geographical markets; for example exporting product to a new country, new product dimensions, new distribution channels, or different pricing policies to attract different customers or create new market segments. I suggest Primark to move online by launching high tech website for online sales. Product development is growth strategy where business aims to introduce new products into existing markets. It requires development of new competencies and to develop modified products which can appeal to existing markets. Diversification is a growth strategy where a business launches new products in new markets. This is an inherently more risk strategy because business is moving into markets in which it has little or no experience. For a business to adopt a diversification strategy, it must have a clear idea about what it expects to gain from strategy and an honest assessment of potential risks. Analysing Primarks position and its strategies over past decade, we can better construct a growth strategy for Primark using Ansoff matrix model below in Figure; 4.2.1 Product Portfolio Analysis Marketing mix refers to set of marketing ingredients and tools a company can use to pursue its marketing objectives in target market. According to Lancaster and Massingham; (1999), it is at marketers decision to choose from an extensive set of marketing components to find right combination while marketing a product. 4Ps form basis of marketing mix. Kotler (1996) describes, Marketing Mix is a social and managerial process by which individuals and groups achieve what they need and want through creating and exchanging products and value with others. Marketing Mix is viewed as combination of elements that contribute to success of an organisation. If market research is carried out effectively, a company can plan a promotion for right product, at right price, and to get it to their chosen market, in right place.Getting this mix right is critical in order to successfully market a product. 4Ps are Product, Price, Promotion, Place as shown in figure below; Primark needs to combine various elements of marketing mix in order to achieve both a competitive advantage in market place and company objectives. Although company has control over these elements of marketing mix, but must cater elements in companys environment over which it has little or no control (figure above). For organisations like Primark although marketing mix must be is consumer-orientated catering not only profitability but also considering customer needs as in figure, Table below shows some of marketing mix decisions for Primark including aspects from each of marketing mix elements. 4.3 Brand Strategy A successful marketing mix contributes to good marketing of a product; hence there must be a brand strategy in place. American Marketing Association (AMA) defines a brand as a name, term, sign, symbol or design, or a combination of them intended to identify goods and services of one seller or group of sellers and to differentiate them from those of other sellers. (See Appendix VI for characteristics of a brand). A strong brand strategy can increase awareness of a company and its offerings in such a way that establishes strong feelings and reactions and a favorable view towards company as a whole. To begin development of brands strategy for Primark, there must be clear identification of Primary Target Customer and/or Client, Competition Product and Service Mix, Unique Selling Proposition First step in developing brand strategy is defining brands. By defining brand, its easy to create foundation for all other components to build on. Brand definition serves as measuring stick in evaluating marketing strategies. Primark has an extensive brand portfolio; Brand portfolio usually refers to companys set of brands and/or products. The logic behind having a portfolio of brands rather than a single brand is possible diversification and risk minimization. Hence brand portfolio is a treasure trove. Next step is to determine our brands objectives, Primarks branding objectives include: Delivers message clearly Confirms your credibility Connects your target prospects emotionally Motivates buyer Concretes User Loyalty Gaining a specific number of new clients in next year Positioning company as an industry leader in next 12 months To succeed in branding company must understand needs and wants of your customers and prospects. Brand objectives should be comprised of company personality, image, core competencies and characteristics. The impressions that it makes as well as words people will use to describe company to others, are basic framework of a brand. With a strong brand company builds credibility, has more influence on its market, and motivates customers and clients to purchase from it. If done correctly company will be looked at as a leader not a follower. Identifying marketing targets enables company to find opportunities available. It gives information needed to focus on buyers that are interested in what company has to offer. This can save both time and money in an ever-changing business environment. Power of brand relies on ability to focus target audiences. That is why defining target market will help to strengthen Primarks brands effectiveness. Target market for Primark is people up to age of 35 who are fashion conscious. Next step in developing Primarks brand strategy is to perform a careful analysis to determine principal barriers that it may face. These barriers are also known as market conditions that can keep your product or service from achieving success. The potential barriers in deploying Primarks brand strategy can competition, timing, financing, location, lack of demand, suppliers not meeting demands and targets. In order to face these obstacles its important to spend time doing a careful analysis of products or service to assist in developing brand, and positioning products in the market. Last step in brand strategy is branding companys identity in marketplace where image is all about appearance of packaging. Its important to realize that packaging always either has a negative or positive influence on purchaser. A negative impression can detour a potential customer, just as a positive reaction can influence a customer to buy. A time to pay special attention to packaging is when going to launch a new brand. If youve already built a strong brand that others recognize often people may not pay as close attention to packaging. Packaging is judged and represented by business cards and stationery, web site, answering system, presentation of finished products. Brand equity does not develop instantaneously. A brand needs to be carefully nurtured and marketed so consumers feel real value and trust towards that brand. When a company manages its brands it has a number of strategies it can use to further increase its brand value. (See Appendix VI for further explanation). Brand strategies that are more suitable for Primark are line extension and introduction of new brands. Primark must focus on its brand management as its a dynamic and a continuous process that needs consistent investment of time and it must be allocated a specific budget as it is much more than mere marketing communications. Due to intangible nature of branding, results may not accrue in a short period of time a it takes time and reinforcement to build customer loyalty. Successfully out-branding its competitors is a continuous battle for hearts and minds of your customers. Proposition that Primarks brand strategy makes is very compelling, attractive and unique among competitiv e offerings. It must also be consistently reinforced throughout all phases of an organization, from senior executives to customer service, business development and even business partners. Primark is respected for quality of its products and cheap prices. If we briefly review business environment and other factors identified in this report for Primark then we may realize that consumer behaviour is changing and business environment evolving across retail industry. Concern is rise in suppliers demands regarding price and costs. If it continues to rise steeply it will damage profits that it is currently enjoying. Reviewing forces and factors faced by Primark and their impact on organisation, it is obvious that Primark is facing many challenges and standing at verge of it survival in long term. Market Research World, 2011 revealed that value fashion sector sees worst decline for first time in over 16 years much to gain of higher-priced retailers, reveals data by TNS Worldpanel Fashion. While fashion discounters such as Primark, Tesco, George and Matalan saw a phenomenal sales increase of nearly 30% last summer, growth has now ground to a hold with sales falling by 1% over last six months. In contrast, sales of most expensive clothing are up by 4%, as shoppers head to generally more expensive retailers such as multiples and mail order retailers. Clothing industry has been globalised. Strategies followed by clothing firms, to survive in a context of strong pressure from retailers and from competition from low-wage countries, are a combination of two trends. First trend is relocation of production to low-wage countries; second one is the development of six added-value activities: niche, Quick Response, full package, innovation, branding and retail. Elaine Giles, Research Manager, TNS says, Shoppers are starting to favour higher priced retailers and premium end of market is performing well. Growth of value sector last year came on back of new store openings and expansions that brought an influx of new buyers, but now sector seems to have reached saturation point. The only way, budget retailers can continue their success is to increase spend of existing buyers, something they may struggle to do given current retail climate. 4.0 Strategic Marketing Environment Analysis Primark is one of the leading value clothing retailers in UK. It is highly crucial for an organization like Primark to periodically review its marketing environment to gain competitive advantage in market. Discount cloth retailing in UK has several characteristics including clearance outlets, core business discounters, planned purchasing at high volume, own-label or branding, relationships with manufacturers, attracting customers with good image and service. There are three different analytical tools used to assess marketing environment of an organisation; Porters Five Forces Analysis, SWOT Analysis and PESTLE Analysis. 4.1 Porters Five Forces Analysis First of all Porters Analysis is carried out which is a technique for identifying forces which affect competition level in industry as shown in figure A below; The threat of new entrants in market is a critical element haunting Primark much as there are less entry barriers including low entry costs, high volume of suppliers, vast market in India and china, higher growth space in market, economies of scale, low capital requirements, access to distribution, government policy, low cost product design, access to necessary inputs. But new entrants in industry are not likely to cut their price to defend their market position. In an industry experiencing fast market growth, patents, proprietary knowledge, and brand reputation are also considered as barriers for companies entering industry. Strategic position of a company depends upon the extent to which what it offers is unique and cannot be replaced by something else. Primark has strong brand portfolio which is its uniqueness. As for some of products, like Primark cheap clothing there are alternatives. But there is no substitute for low price of Primarks products. Determinants of these substitution threats include relative price of substitutes, buyer propensity to substitute. Buyers/customers have greatest impact on Primarks strategies as its vision and strategies are customer focused. Hence, it has to cater changing customer trends, their demands and requirements. Customers volume, customer information level and trends, substitute products pull through, price, product difference, brand identity, impact on quality, buyers profit and incentives are few factors that Primark is facing as major challenge in competitive market. Suppliers might have high impact on Primark if they are bigger company and have less competitive market for their products. Primark is facing big challenge from supplier as it has good and long term relationships with its suppliers build on trust but recently three of its main suppliers are found involved in child labour and Primark has to cut-off ties with them immediately which is definitely a big blow for Primark. Primark pays its supplier competitive price for their products to retain them. Primark maintains substitute inputs, and high volume of supplier to avoid extra costs. Apart from five forces identified by Porters Analysis, there are other factors revealed by PESTLE Analysis challenging Primarks position in competitive market, in figure below; (For PESTLE Analysis, refer to Appendix II; and for SWOT Analysis, Appendix III) Strategic marketing analysis of Primark, using different analysis tools reveal that Primark is expanding globally and being in the global market; Primark has adopted an approach of Think globally, Act locally as stated by Armstrong, (2006). They are expanding globally but cater needs of local market and fashion trends in local culture. Primark supports UKs global role by showcasing the best of British fashion to a global customers as well as it reflects how it builds social cohesion and business ethics between customers and its suppliers. Primark faced a major blow to its reputation on 24 June, 2008 after being exposed by and undercover report by BBC exposing it using child labour. Afterwards, Primarks marketing strategy mainly focused to promote itself as ethical organisation with a clear and strict code of conduct to which all suppliers must adhere and which forms part of the terms of their contract. Primark supports nearly two million people through its supply contracts worth 700 million and is dedicated to improve their standard of living and quality of life. For this, Primark has established Primark Better Lives Foundation (Primark Ethical Trading, 2011 a). In response to the allegations of use of child labour by its suppliers, identified by Panorama (BBC program) Primark stopped buying from three factories in southern India for breaking its Code of Conduct. It also took other major initiatives and is now active member of ETI that announce it Achiever in year 2009-2010 independent audit (Primark Ethical Trading, 2011 b). (For further information on ETI and Primark code of conduct, see Appendix IV) Further apart the positions, greater the opportunity for new brands to enter market, simply because competition is less intense. For example, in fashion retailing there are numerous brands in marketplace all competing with each other across differing core attributes, brand reputation, store presence, price, and clothing quality or trendy and stylish. To show how differing brands might be positioned relative to each other using attribute scores for each brand of fashion retailer we can measure and map brand positioning for respective brands. Figure below shows positioning of a number of fashion retailers using dimensions of price, store presence, and trendy and stylish. Using this list of drivers we can further depict on what we call a perceptual map how different competing brands of fashion retailers in market are positioned according to these drivers. Understanding complexity associated with different attributes and brands can be made easier by developing a visual representation of each market. These are known as perceptual maps and they are used to determine how various brands are perceived according to key attributes that customers value. Perceptual mappingrepresent a geometric comparison of how competing products are perceived (Sinclair and Stalling, 1990). One thing to note is that closer products/brands are clustered together on a perceptual map, greater the competition. Mapping can provide significant insight into how a market operates. It provides marketers with an insight into how Primarks brands are perceived and it also provides a view about how their competitors brands are perceived. In addition to this substitute products can be uncovered, based on their closeness to each other (Day et al., 1979). All of this data reveals strengths weaknesses that in turn can assist strategic decisions about how to differentiate on attributes that matter to customers and how to compete more effectively in target market. 4.2 Competitor Analysis Like any other business, Primark is also facing tough competition from George at ASDA, Tesco, Marks Spencer, TK Max, Costco, Next, Zara, New Look, Peacock and Matalan. Analysis for each major competitor determines that Primark has better business strength and high market share. It has good financial strengths and high profitability but relatively poor quality of management and low standards of technology position. Primark is paying least attention to its marketing strategies. Marketing represents boundary between marketplace and company, and knowledge of current and emerging happenings in marketplace is extremely important in strategic planning exercise. In relation to competition, several external forces and environmental changes are faced by Primark that need to be considered to formulate its marketing strategy. Currently, Primark is facing high competition with quality competitors like Peacock, Matalan etc. They are offering cheap products as well and growing at tremendous speed, threatening position of Primark. Most of Primark customers are switching to rivals because of their quality products and good marketing strategies which Primark lacks. Marks and Spencer, the biggest rival of Primark has very extensive marketing strategies with strong brand portfolio. They do advertisement on almost every media available; while Primark do not use even single media for advertisement. Marks and Spencer offers frequent promotions for its customers, they offer loyalty card, and have online sales portfolio, as well directory sales is among one of their marketing strategies. On other hand Primark is not spending much on marketing, advertisement or promotional activities which is a big setback in their management. From competitors analysis it is clear that even though there are potential threats and certain weaknesses for Primark, but strengths and opportunities can outperform weaknesses and threats. Competitive rivalry can be effectively overcome through deployment of cross-selling, pricing and co-branding and marketing strategies. This approach to sales will not only increase stability of business but also leverage competitive advantage in target market identified. Sales trends of Primark and its closest rival is Marks and Spence is clearly show difference in sales growth of both companies over past three years. 5.0 Impact of Marketing Strategies on Financial Statistics Financial analysis of Primark shows effectiveness of their marketing strategies in a more practical way. They have been operating for several years and they are currently buying out Littlewoods stores, several of the best of which will be turned into Primarks and rest sold for a tidy sum to other retailers. Its a good move that should see the chain expand its empire to reach more customers across UK. Primark has aggressive expansion plans in UK and on the Continent. It plans to open in Holland and Germany next year, as well as launching in Portugal. The Independent has learned that it also wants to open at least one more store on Oxford Street because its existing flagship is overtrading. Primark flagship takes an average of more than 2.5 million in sales a week. Rival Marks Spencer has two stores on Oxford Street, while Next has three. Figure below shows net capital investment and how much of that is spent only on acquisition of new stores and renovating them over past 3 years. It indicates that in year 2007 Primark has 5.4 million sq. ft. selling space that was enhanced to 5.9 million sq. ft. and by end of 2010 it was 6.5 million sq. ft. with a total number of 204 stores. Financial statistics of Primark present an excellent report of how revenue and operating profits soared in recent years unlike other high street retailers. Figures reveal a constant increase in revenue and operating profit over last three years. These figures show growth due to marketing strategies and increase in selling space as well. But for more analysts, increase in profit with increase in selling space is a deception of growth and they are more interested in like for like sales which do not account for increase in sales and profits due to increase in selling space by acquisition and opening more stores. Figure gives a more precise picture of how like for like sales grew over past three years and especially in year 2010 profitability has grown up to new levels despite much weaker sterling/dollar exchange rate compared to last two years and has benefited from consistently strong volume growth. Year 2010 was exceptional for Primark as its revenue increased by 18% with like-for-like sales growth of 6% and benefit of continued investment in new stores. In comparison with other high street retailers profit was 35% ahead and operating margin improved substantially from 10.9% to 12.5%. This improvement was mainly due to sterlings relative strength against US dollar in first half which benefited cost of goods sourced in dollars and sold in second half. However, in financial year of 2011, due to higher cotton prices and freight costs and increases in VAT, already implemented in Spain and in UK from January 2011, it is expected that growth will be eroded. Primark can still continue to lead market by maintaining price leadership strategy and by target marketing strategy in long run. 6.0 Findings Final Conclusion For Primark to continue delivering value across range of its products, it must develop strong marketing as well as has to enter online shopping portfolio. They have to compete with rise of online retailers. Although only 4% of clothing sales are currently made online, this looks set to grow. With many value retailers not yet having capability to trade online, they may be left behind as this channel becomes increasingly important to fashion industry. The value sector has had a huge impact on fashion market over past few years and rest of high street has been forced to slash prices in order to compete. If this influence diminishes, fashion market could become a very different place to trade in. The key challenge faced by Primark is critics who unveiled that Primark is involved in unethical trading using child labour. Other threats are rival companies, customers changing requirement which has become potential implications in implementation and success of new marketing strategies and hinder its sustainable growth its survival in todays competitive world. Primark should focus on brand stretch and family branding strategies to gain competitive edge over competitors. Primark is offering wide range of products for its valuable customers. It has a very extensive portfolio of brands and products to meet changing market needs and demands. But business environment is changing way Primark stands in todays world and it is facing many challenges. With levels of competition ever increasing, even most traditionally confident of organizations like Primark are feeling pressures to stay in the game. As technology is emerging, retail business is taking new shape changing at great speed with increase in number of quality competitor launching better services. Hence, existing clothing retailers like Primark have to divert from their traditional path in response to increasing competition. Another major reason for this transformation is that buyers are developing their taste very rapidly and are becoming more demanding with passage of time. Changes in internal external environment factors like competitive market, globalization factors, demographical and social for ces, ethical forces, technological changes, economical factors and political issues are some other major reasons for various kinds of strategic changes, structural changes, cultural changes, system changes, process changes within organisations. 7.0 Recommendations I conclude following measures for Primark to face challenge indicating which segment of strategy has to follow to achieve these recommendations, concentrate on growth of user-generated content and an emphasis on new distribution channels such as; Redesigning and re launch website with high tech online shopping portal (Market and Product Development Strategy) Expanding market, explore new markets overseas.(Market Development strategy) Brand stretch (Product Development Strategy) Finding new talent of designer (Product Development Strategy) Offer clothing for a mature market 35+ (Market Penetration Strategy) Diversify (Introduce new product line) Introduce range of accessories (Market Penetration Strategy) Expand current product lines(Market Penetration Strategy) Introduce new product lines (Diversification, Market Development) Introduce food Hall or Cafe'(Diversification) Introduce loyalty card or store card(Diversification, Market Development) Add fragrance section and pharmacies (Diversification) Introduce section for electronics (Diversification) Enter in emerging markets like telecom (Diversification) Open new outlets (Market Development) More marketing can be done New market share expanding their range of clothes (Market Penetration) New products expanding beyond clothing to include more shoes, handbags etc(Market Penetration) Start own production factories in countries like china and India to drop cost of production and more less prices (Diversification ) Introduce customized tailoring and on demand preparation of dresses (Product Development Strategy)

Wednesday, January 1, 2020

My View Of Being Adopted Essay - 1420 Words

How does it feel to be adopted? Has life been altered as a result of being adopted? These questions have never fazed my view of being adopted. Awareness of being adopted began as far back as I can recall and has never been a taboo family topic. Adoption didn’t affect my life in any sort of way as a child. As I matured, the realization of the impact being adopted has had on my life has evolved. This insight created a new level of gratitude for my family and my life. Although memories don’t exist for me prior to my adoption as I was only nine months old –there are recordings of this consequential event. These videos were recorded by a family friend; however, at the time of the recordings my mother and grandmother had only just met our soon-to-be lifelong friends on the plane to China. In the video, the moment when my mother meets me for the first time is when I consider my life starting. My mother was calm through the chaotic event. The video shows my mom taking me from the caretaker’s arms and holding me. The one part of the video that surprises me is that I begin to cry the moment I’m in her arms; almost as if I were a newborn being held for the first time. Depending on the person, there are many different reactions to a baby crying – some panic, while others are composed and collected. My mother was able to soothe me to sleep despite the noisy disorder around us, almost as if we were the only two people in the room. I guess that’s the effect of a mother’s gentle touch. MyShow MoreRelatedThe Adolescent Phase Of Children Who Were Adopted Essay1431 Words   |  6 Pagespeople who have been adopted through an array of organizations and countries. I am a significant percentage in a melting pot of individuals who hold a title for themselves that billions of other people are incapable of having. 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