Wednesday, August 14, 2019
Analyze Macro Environment of Australian
Marketing environment refers to the forces, which impact the ability of an industry towards building and maintaining its success (Broberg, Umans and Gerlofstig 2013). This study will be based on the scenario, where a large company wishes to invest in the retail book industry of Australia. In this context, the study will analyze the macro environment of the industry through PESTLE and Porter’s Five Force Analysis. Apart from that, the study will also analyze the segmenting variables of the industry. The purpose of the study is to explore the opportunity and threats of the industry, which will ultimately impact the new company. The study will also suggest some segmenting variables for the new company. PESTLE Analysis of Australian Retail Book Industry  ·Ã‚        Free trade agreement imposed by Australian Government assists smooth business operation of Australian retail book industry  ·Ã‚        As per Australian copyright act, Australian booksellers are obligated to purchase bulk orders from Australian rights holder. They are restricted to purchase orders from overseas suppliers (Booksandpublishing.com.au 2017). It is ultimately pushing up the price of local book sold in retail shops and increasing the overall revenues of the industry.  ·Ã‚        Reduced tax rate on retail book industry has ultimately increased its profit potential.  ·Ã‚        Strong economic condition of Australia has enhanced the business potential of book retailers  ·Ã‚        Fluctuation in inflation rate sometimes hamper book retailing industry.  ·Ã‚        Currency fluctuation rate also impact on the profit level of the industry  ·Ã‚        Increasing social activity among the people towards sharing interest through book reading has increases the sales potential in the industry  ·Ã‚        Increasing purchasing power of the consumer has enhanced the sales potential of this industry (Parsons and Descatoires 2016)  ·Ã‚        Increasing numbers of retirees in this country has increased the demand for books  ·Ã‚        Advanced technology helps the industry to keep constant relation with the customers  ·Ã‚        Technological advancement can help in building strong relationship with the book suppliers (Efendioglu 2015)  ·Ã‚        The industry comply with all the legal standards of consumer law  ·Ã‚        The industry also comply with all the Australian labor law  ·Ã‚        Book retail industry of Australia is highly concerned about protecting the environment  ·Ã‚        It uses environment friendly packaging technique for all its products Table 1: PESTLE Analysis of Retail Book Industry in Australia The retail book industry of Australia faces low barriers from the localized small entrants. However, it faces significant barriers from the international entrants. Their established competition has created negative growth of the industry (Wehner et al. 2017). Moreover, the percentage of trade book sales was quite low in Australian till 2015 (Referred to Appendix 1). However, the industry has used price cutting strategy for beating the treats of new entrants and started to regain the sales volume. Retail book industry of Australia faces high level of threats from the media and entertainment industry. Recently, consumers spend more time on watching TV and chatting in social media. It has reduced the demand of books, which is ultimately impacting the retail book industry (Pons et al. 2016). The total value of boo sales has been demonstrated in Appendix 2. The retail book industry of Australian faces tough competition from the online retailers like Amazon and The Book Depository. It forced the industry to set cheaper prices for all of their books, which has increased its market share. However, the sales of the industry have been declined by 2.2% by the year 2016 (Ibisworld.com.au 2017). On the other hand, the recent revenue of the industry demonstrated an amount of 4 billion, which is a moderate amount (Ibisworld.com.au 2017). The sales channels of the Australian book have been demonstrated in Appendix 3. In the local market, the industry faces tough competition from Booktopia and Dymocks. Retail book industry faces high bargaining power of buyers. Moreover, the online bookselling companies are more likely to offer discounts on the books, which they sell to the customers through online channels (Barnard 2016). Hence, customers have more power to switch in those online booksellers. It can ultimately reduce the sales potential of the industry. The copyright act of Australian Government has restricted the bookselling companies to buy bulk amount of book only from local book publishers. They are not allowed to get supply of the book from any foreign suppliers. It has ultimately increased the bargaining power of suppliers over the retail bookselling industry (Gray 2013). However, share of trade and educational books have increased the overall market share of the industry (Referred to Appendix 4). Figure 1: Porter’s Five Force Analysis of Australian Retail Book Industry (Source: Stephens and McGowan 2015) Segmenting Variables in Australian Retail Book Industry Age: 6 year to Above: Almost all age groups having reading habits are targeted by this industry. Gender: Both Male and Female: Readings are not restricted to any gender in today’s market. Hence, both male and female customers are selected. Marital Status: Both Single and Married: Single customers will be segmented to offer action and adventure books, science fiction, horror and mystery books. On the other hand, married customers are segmented to offer romance, diaries, religious and history books. Education: Mostly educated person: Books are valued to only educated customers. Students are offered by the book within their syllabus and others by different types of books. Occupation: Can be any type and even the retired persons: All types of professional are segmented by the industry. Income: Moderate income level: Books are kind of luxury goods. Hence, the customers having moderate income are selected. Attitude: Positive attitude towards life: Customers having fantasy and positive attitude towards life are selected by the industry.  ·Ã‚        Customers having strong personality  ·Ã‚        Customers having hobbies of book reading Customers seeking high level of benefits are segmented by the industry  ·Ã‚        Occupation: Business persons, school students, college students, job holders and even unemployed  ·Ã‚        Customers having moderate income  ·Ã‚        Customers having positive attitude over life  ·Ã‚        Wide collection of books in the bookstores  ·Ã‚        Various types of books including education, trade, entertainment and others  ·Ã‚        Moderate price range attracts the readers  ·Ã‚        Convenient stores of the book stores Table 2: Segmenting Variables of Australian Book Retail While concluding the study, it can be said that Australian book retail industry gets huge support from the government. On the other hand, the increasing reading habits of the customers have also enhanced the sales potential of the industry. The recent revenue of the industry is 1 billion, which is quite moderate. However, the industry is facing tough completion from the online book selling companies both from domestic market as well as international market. Hence, the industry has become forced to cut the price range of the books. It has ultimately declined the profit level of the industry. However, with the increasing popularity of trade and educational books, there is still hope in this industry. The new retail book company should target adult groups for selling their books. Recommendation on Segmentation and Target of Book Retail Company Age: 18-Above: All the adults customers will be segmented by this company, as they are mostly associated with the hobbies of reading Income: Moderate Income Group: The company will sell books having high prices like popular novels, Fictions, Non-fictions and many more. Hence, it will segment customers having stable income Occupation: College Students will be segmented, as they needs various types of books included in their syllabus. Business persons will be selected for selling trade books. On the other hand, retired persons will also be a significant segment of this company, as they mostly need book readings for spending their time. Marital Status: Both single and married customers will be segmented for their differing needs of books Education: All educated persons will be selected by the company. Even the educated household will be the customers of the company, as they may need books on getting ideas of cooking and foods. Attitude: Both having positive and negative attitude towards life. People having negative attitude can also buy books for overcoming their pain in life.  ·Ã‚        Customers having both positive personality in life will be selected  ·Ã‚        Customers having hobbies of reading and entertainment will be selected Customers seeking extra benefits over their purchase will be selected  ·Ã‚        Customers between the age of 18-above will be selected  ·Ã‚        Education: All types of educated Customers  ·Ã‚        Occupation: Businesspersons, college students, media professionals and others  ·Ã‚        Customers having moderate income  ·Ã‚        Customers having both positive and negative attitude towards life Wide variety of books will attract different types of customers Affordable prices of the books will attract huge range of customers Discounts offered to the customers will attract them a lot Convenient store location will enhance numbers of customers Table 3: Recommendation on Segmentation of New Book Retail Company Barnard, S., 2016. Retail or e-tail? Brick or click? Is e-tailing the ideal solution for all industries?: opinion. The Retail and Marketing Review, 12(1), pp.89-91. Booksandpublishing.com.au. 2017. The market down under | Books+Publishing. [online] Available at: https://www.booksandpublishing.com.au/articles/2016/09/30/74713/the-market-down-under/ [Accessed 7 Apr. 2017]. Broberg, P., Umans, T. and Gerlofstig, C., 2013. Balance between auditing and marketing: An explorative study. Journal of International Accounting, Auditing and Taxation, 22(1), pp.57-70. Efendioglu, A.M., 2015. State of information technology in small retail and service businesses: an exploratory study. Journal of Small Business Strategy, 8(2), pp.13-24. Gray, D., 2013. Out of the Box and into the Bookstore: Non-Traditional Use of the Bookstore. Against the Grain, 15(3), p.10. Gump, S.E., 2014. Everyday Book Marketing: Promotion Ideas to Fit Your Regularly Scheduled Life by Midge Raymond (review). Journal of Scholarly Publishing, 45(4), pp.409-413. Ibisworld.com.au. 2017. Book Stores in Australia Market Research | IBISWorld. [online] Available at: https://www.ibisworld.com.au/industry-trends/specialised-market-research-reports/consumer-goods-services/book-stores.html [Accessed 7 Apr. 2017]. Ibisworld.com.au. 2017. Newspaper and Book Retailing in Australia Market Research | IBISWorld. [online] Available at: https://www.ibisworld.com.au/industry-trends/market-research-reports/retail-trade/other-store-based-retailing/newspaper-book-retailing.html [Accessed 7 Apr. 2017]. Parsons, A.G. and Descatoires, E., 2016. Retail marketing: A novel research agenda. Australasian Marketing Journal (AMJ), 24(2), pp.102-107. Pons, F., Giroux, M., Mourali, M. and Zins, M., 2016. The relationship between density perceptions and satisfaction in the retail setting: Mediation and moderation effects. Journal of Business Research, 69(2), pp.1000-1007. Stephens, P. and McGowan, M., 2015. Service Convenience: On-Line versus Brick and Mortar Bookstores. International Journal of Information Systems in the Service Sector (IJISSS), 7(3), pp.1-14. Wehner, C., Wehner, C., Wehner, C., Wehner, C. and Wehner, C. 2017. Bookselling Industry Analysis for Australia - Porter's Five Forces & PEST. [online] bluetrain. Available at: https://bluetrainenterprises.com.au/blog/2016/11/18/industry-analysis-australian-print-bookselling/ [Accessed 7 Apr. 2017].
Tuesday, August 13, 2019
Developing states Essay Example | Topics and Well Written Essays - 250 words
Developing states - Essay Example As pointed out, some states within world nations are generally termed as ‘developing’ because those states show development in certain areas, but certain problems hinder those states from attaining development. For instance, less industrialization is a serious problem faced by the developing states in Asia and Latin America. Comparing with poor states/nations, the standard of living in the developing states is comparatively high. But this does not prove that the standard of living in the developing states is similar to that of the developed nations in Europe and America. On the other side, most of the developing states lack economic independence. â€Å"These nations have often been handicapped by poor infrastructure, inadequate education, rampant corruption, and high trade barriers.†1 So, one can see that income disparity is a common problem faced by developing states. Still, developing states share certain societal, financial and political characteristics. For instance, most of the developing states were under colonial rule. This resulted in the amalgamation of certain colonial elements with social structure of these states. For instance, one can easily identify the influence of European cultural characteristics in the developing states in Asia and Africa. Besides, almost all the developing states face the problem of unequal distribution of wealth. To be specific, the inefficient political systems within these states allow the elite class to enjoy all the economic benefits. So, one can see that developing states share certain common characteristics, apart from poor and developed states. Summing, the developing states show progress, but the same is insufficient to term these states as developed. In addition, lack of effective political system is an important problem faced by developing states. One can see that the efficiency of political system can lead a nation towards rapid economic development. Still, the political systems within
Monday, August 12, 2019
Diversity and Inclusion in Organizations Essay Example | Topics and Well Written Essays - 1000 words
Diversity and Inclusion in Organizations - Essay Example Junginger ascertains that his company adopts majority of the best D&I practices in the industry, as identified by the U.S Department of Commerce benchmarking study. More than internal practices, however, the challenge to the firm’s D&I efforts are posed by external elements, principally the discriminatory attitudes of customers who stay at the company’s hotels. The firm’s hotels located in other countries are also constrained by the social prejudice (by Western standards) that may have been built into the culture of the place. The company must train its personnel not only to observe D&I practices within the company, but also how to deal with people and situations that are discriminatory against them. An Interview with Phillip Junginger*, D&I strategic officer, Human Resources Department Phillip Junginger* is the strategic officer for a four-star international hotel chain based in the U.S. ... This insight provides him with a greater motivation and sensitivity not only towards those of different cultures, but also of different races, ethnicities, religions, and other personal circumstances. Question 1: How does your firm integrate D&I in your corporate planning? PJ: In our hotel, we deal with people of different backgrounds, both as customers and as internal stakeholders. The hotel industry is all about people, and all about dealing with them in the most intimate way because we provide a home for the customers, so moreso for the employees. Therefore, our D&I is part of our core organizational values. It is not just one separate plan in itself, but it is integrated in all managerial planning, from strategizing at the executive level, to the tactical and the operational levels (especially in dining, housekeeping, and hotel amenities), where we try to meet customers’ preferences and employees circumstances. --------------- * Names have been modified upon the request of the interviewee. Question 2: In your personal role, how do you perceive your goals and responsibilities? PJ: When I look at my role as the main officer in charge of D&I strategy, I am overwhelmed by the tremendous responsibility of that position. Diversity and inclusion is a double-sided blade; the strategies we design should make people of all backgrounds feel accepted the way they are, and usually these pertain to the minority groups, but then it must be done in a way that does not alienate members of the majority group. Doing so would continue to drive a wedge among the groups, which is exactly what we try to eliminate. The difficulty here is that
Sunday, August 11, 2019
Health care crisis Essay Example | Topics and Well Written Essays - 750 words
Health care crisis - Essay Example Health insurance is a crucial component in the health care system of Americans for unusual, expensive, and unpredictable events. It poses problems if it is used as a payment method for the everyday health care. Americans have been forced to pay more for health insurance but in return are receiving less. Kaiser Family Foundation (2010) states that, â€Å"American families arent only paying higher deductibles, but higher copayments as well; in 2004, only one in five people with health insurance through an employer had a copayment of more than $25; in 2008, that number was one in three and in 2009, it was nearly one in two.†Many researches and stakeholders argue that the current state of primary health in America care is unfair, corrupt, and devious and thus requires dire need of reformation. Statistics indicate that over 47 million of Americans lack health care insurance because of the high costs involved. For instance, about 2.4 trillion dollars was spent on health care in the year 2008 but it is estimated to rise to 4.3 trillion dollars by 2016. This is said to be four times the National Defense budget. This thus implies that every time the tax rates increase the unemployed people are injured and their medical costs need to be paid. Kaiser Family Foundation (2010) argues that, â€Å"The costs of employer-based health insurance premiums have risen 114% since 2000; Americans are paying higher deductibles with the average family deductible increasing from $1,034 in 2006 to $1,518 in 2010.†Either the middle income families with individual health care insurance coverage spends about 22% of their household income while middle income families with employer based health insurance coverage spends about 8% of their household income. Thus, many Americans families are going without health care insurance coverage because of the escalating costs, gaps in quality and in access to health care. These rising cost are making innocent
Saturday, August 10, 2019
Robert Gross - The Minute Men and their World Essay
Robert Gross - The Minute Men and their World - Essay Example He overall provides a stirring view of late eighteenth century New England on the cusp of revolution and freedom. In Concord town politics, though the inhabitants denied it, were as usual. Voting rights were severely restricted and limited the number of men eligible for town leadership. Wealth and leisure time further diminished the pool. Only those with enough of both were able to rise to serve the needs of their fellow men sufficiently. Money and position piled on top of place to complicate life. As a thriving center of commerce, Concord hosted both a bustling town business center and a sprawling farmland. Conflicts between urban and rural inhabitants over basic infrastructure needs excited the assemblies on a regular basis. Schooling, religion, and roads all served a different constituency and for them all to be centered in town was seen as a disservice to the rural community who â€Å"had to walk into town in everyday stockings and shoes then for the sake of appearances top in a field and change into their go-to-meeting slippers.†1 Church itself posed a mighty challenge to the unity of Concord’s inhabitants. During the Great Awakening a new preacher ignited fervor among the young and vital in town. His bowing to the interests of youth to fill pews offended the staunch faithful and, somewhat along geographical lines, they broke off to form a second parish. When a new, young preacher replaced the first, a spendthrift schemer, one of the old timers, sought membership in the original parish. His questionable ethics toward his fellow Concordians led to his rejection by the congregation. By extension the outlying parish took this to heart and read into it a refusal to consider reconciliation. Then the same man took his grievances to the political realm and again lost. Concord was indeed a town divided. While the inhabitants of Concord simmered in their own stew of religious discord the colonies entered a period of contention with mother England. The Stamp Act triggered a wave of protests across the colonies and in Boston, party faithfuls organized a vote to recognize Parliament’s actions. When the vote came through it was barely shy of the necessary numbers to pass and demonstrate Massachusetts’ loyalty to the crown. A bitter disappointment to Governor Hutchinson, surely, but one that triggered a wave of political backlash. Much like today’s Tea Party, farmers and businessmen who saw their interests hindered by England’s acts of taxation, mounted an ideological revolt. They organized a revolution at the polls and saw to it that nineteen of thirty-two representatives to Boston were replaced for their efforts of royalist loyalty. In Concord, little interest sparked at the events plaguing the colony. When the vote came to replace their own man, Charles Prescott, they safely returned him to his role. Their concerns lay more in the sixty-six pound expense of burying the Great Awaking pastor, Reverend Dan iel Bliss, and in finding his replacement than in subverting England’s fiscal policy toward the colonies. When the Boston Massacre rent headlines, Concord barely paused to comment. Of greater import a debate about relocating the Middlesex County seat from Cambridge to Concord. A matter of convenience more important than matters of state. Gradually, however, the people of Concord came around. In 1772 the Boston Committee of Correspondence wrote seeking a
Friday, August 9, 2019
Human body partsTrafficing Research Paper Example | Topics and Well Written Essays - 1000 words
Human body partsTrafficing - Research Paper Example number and the varieties of transplantation options available is the emergent market for human body parts (Harrison, pg21).Legally, body parts used in transplantation surgeries are normally procured form cadavers or brain dead people, however, the demand for organs has far exceeded the availability of organs which leaves thousands of patients in the waiting list. In the U.S alone, 95,000 people were in the waiting list in 2006, while 6,500 people died owing to non-availability of vital organs for transplantation ( Abouna, p34). 82,000 patients of the people in the waiting list were comprised of people waiting for kidneys alone (Rupert, p67). According to the WHO, in 2010 there were approximately 107,000 donated organs worldwide both legal and illegal and a good percentage of these transplanted organs comprises of 20,000 kidneys which are trafficked (Heymann, 2012). These problems of demands, non-availability and inadequate management of transplantation organs have led to black marketing and trafficking of organs especially in the developing and the underdeveloped countries. The monetary value added to human body parts and vital organs led to their commoditization. People from developing and under developed countries engage in the trade of human body parts because of their financial conditions and the high pay that this kind of trafficking fetches for them.  â€Å"The most common source of organs was impoverished people in India, Pakistan, Egypt, and the Philippines, deceased organ donors in Colombia, and executed prisoners in China†( Danovitch, p1306).. One of the major countries from where organs are procured is India, an Asian country. Hundreds of impoverished people in India either sell or help traffic organs to make a living. Often doctors and nursing homes are involved in such scandals owing to the high price that organs such as kidneys and liver fetch especially from foreigners who are a part of â€Å"transplant tourism†. â€Å"The Voluntary Health
The LE-PEST C Analysis of Sainsbury Research Paper
The LE-PEST C Analysis of Sainsbury - Research Paper Example This paper illustrates that the food industry in the U.K has not been spared by the world financial crises and the changing economic times, with this in mind that most businesses have to re-evaluate and do their LE-PEST C analyzes. An example of such analysis is that of the J Sainsbury plc. The commercial sector is experiencing a worst financial crisis globally and all business ventures with interests in financial sector like the J Sainsbury plc are affected by the problem. J Sainsbury plc is the topmost food retailer in the United Kingdom, consisting of a series of diversified business venture units that include; supermarkets, JB Beamount, Jacksons stores and an online Sainsbury's business and bank. The major organizations objective is to provide customers with a variety of products and services that meet the diversified customer requirements while at the same time giving the investors good and consistent financial returns on their investments. The business diversity has been aiming at exploiting different aspects of production and different opportunities so as to develop individual capabilities that payback in terms of business success. The company is working had to establish its policy as a tradition to meet the customer requirement bearing in mind that achieving this is of mutual benefit, plus working together with the suppliers to keep up the productions lines running and maintain their presence in the market. It is estimated that J Sainsbury plc employs over 14.8 thousand workers committed to serving their customers. The LE-PEST C is an acronym for analysis of business environmental factors under the following; L- Legal environment, E- Economic environment, P- Political environment, E- Ecological environment, S- Socio-cultural environment, T- Technological aspects, and C- Competitive environmental factors. For the J Sainsbury plc LE-PEST C analysis, it's very critical that recommendations should be drawn based on the conclusion made in the evaluation of t he environmental factors that influence business operation. The British government is said to be planning a change in its financial policies that would reduce problems in liquidity of financial institutions as well as taking care of potential market abuse in the financial services industry. The law in the United Kingdom provides tough regulations on the packaging and labeling of food products. The regulations are government's policies and that any violation of them is punishable by the law.
Subscribe to:
Posts (Atom)