Contemporary Business Environment

Contemporary Business Environment 1. Introduction The contemporary business environment is extremely competitive and hence coping with such pressures calls for modern marketing which can go beyond developing a good product, pricing it attractively and making it accessible. Communicating with the present and potential stakeholders and the general public is no longer a matter of luxury but competitive necessity. Marketing gurus like Kotler and Keller (2006) believe that every company is inevitably cast into a role of a communicator and promoter. However, the main concern in the age of technology is not how to communicate but rather what to say, to whom and how often (Kotler and Keller, 2006). This is where marketing communications strategy comes into picture. This report will attempt to comparative analysis of Marketing Communications strategies and mix for the Cola drinks in the UK. Prior to diving into the crux of the report it is essential to have a understanding of the modes of communication which are generally included in the communication mix to form a communication strategy. Most of the experts entail five major modes of communication vis-à  -vis Advertising, Sales promotion, Public relations and publicity, personal selling, Direct and interactive marketing (Fill, 2006). Advertising: Advertising can be defined as any paid form of non-personal presentation and promotion of ideas, goods and services by an identified sponsor (Kotler and Keller, 2006). Sales Promotion: Activities included under sales promotion can be described as a variety of short-term incentives to encourage trial or purchase of a product or service (Kotler and Keller, 2006). Public Relations and Publicity: These are a set of communication programs designed to promote and protect the companys image or its individual product (Kotler and Keller, 2006).. Personal selling: These include all face-to-face interactions with one or more prospective purchases with an aim of making presentations, answering questions and procuring orders (Kotler and Keller, 2006).. Direct and interactive marketing: This is a product of the technology revolution and includes the use of e-mail, post, telephone, fax or internet to communicate directly with or solicit response or dialogue from specific customers and prospect (Kotler and Keller, 2006). Keeping the above descriptions in mind an analysis of the communications strategy employed by the lead players in the soft-drink market can be attempted. However, any comprehensive analysis would need to follow a specific blue-print to lend credibility to the conclusions drawn as a result of the analysis. The next section would provide a brief overview of the methodology employed by the author. 2. Research Methods The methodology is a plan for collecting, organising and integrating collected data so that an end result can be reached (White, 2002). In order to prepare this report the author employed both primary and secondary data. To begin with the report analysed the current market situation to aid a better analysis of the communications strategy employed by the companies. The data collected for this review was primarily collected from industry reports like the Keynote reports. Search string of ‘soft drink industry was entered in following database: Business source elite, Emerald and Ingenta Connect. Followed by a thorough industry analysis current communications strategy for Coca-cola, Pepsi and the Supermarket brands were analysed. The company websites and current adverts were the predominant source for this information. However, Datamonitor company profiles were employed to provide reasoning for the companys choice of the strategy. Textbooks like marketing management by Kotler and Ke ller and the others mentioned in the reference section at the end of the paper were employed to give a sound theoretical background to all the discussions made about the communications strategies. 3. Market Overview Traditionally the soft drink market has been dominated by two giants fighting it out at the top vis-à  -vis Coca-cola and Pepsi Cola. Coke has however been the market leader for a long time now. However, the proverbial ‘Cola war as it has definitely not died out. According to the Keynote Drinks market review, the UK soft drinks market was worth more than  £7.3bn in 2005 (Fenn, 2005). Moreover, soft drinks accounted for 30% of total commercial beverages consumption (Fenn, 2005). However, the carbonated soft drink category has experience overall softness the last several years (Phillips, 2006). The communications strategy adopted by the players in the industry would be affected substantially by the changes in the industry dynamics and the best way to take a look at the relevant changes would be to employ a PEST analysis. 2.1 PEST analysis 2.1.1 Political Government pressures led the US and the UK soft drink industry to ban fizzy sodas from Elementary schools. Political, guided by high profile figures line Californias governor Arnold Schwarzenegger, and public forces alike are pushing hard to extend the ban into High schools (Mercer, 2005). The Cola companies thus need a strategy to communicate a healthy image. Public health advocates and health researchers in the US and the UK have proposed a consumer paid Obesity Tax on carbonated drinks in a bid to reduce consumption and fight the global epidemic that is obesity. (Datamonitor, 2006b). This would require a even more forceful pursuit to produce an image make over into s drink that does not contribute to obesity in both the male and the female target audience. 2.1.2 Economic The 2000 US census indicated that the upper-income consumers were growing and the lower income declining rapidly, yet consistently (Ferrell and Hartline, 2005). This, in turn, lead to a trend in consumer spending and association with more luxurious things like music. 2.1.3 Social. Most of the lifestyle changes are closely related to the corresponding economic shifts. As mentioned above, on the one hand lifestyle awakenings towards healthier food and drink customs in developed countries possibly will fetter profitability, on the other hand heightened consumer spending power in developing countries like India and China have paved the way for a double digit increase in international sales of soft drinks (Fenn, 2005). 2.1.4 Technological Technology, today, is the single most imperative weapon for a firm to procure, enabling it to combat most threatening situations, ranging from reducing the cost of production to coming up with new-fangled healthier alternatives and novel strategies for communication. In a era where communication is a two way process, internet has helped the soft-drink industry in creating more awareness than ever before. 4. Analysis and Discussion On the basis of the industry situation entailed above the next few sections would analyse the current communications strategy employed by Coca-Cola, Pepsi and the Supermarket brands like Tesco Cola. 4.1 Coca cola The Coca-Cola Company (Coca-Cola) manufactures markets and distributes non-alcoholic beverage concentrates and syrups (Datamonitor, 2006a). The syrups, concentrates and beverage bases for Coca-Cola and nearly 400 other soft-drink brands are manufactured and sold by the Coca-Cola Company and its subsidiaries in nearly 200 countries around the world. More than 60% of its products are sold outside of the US (Datamonitor, 2006a). It is headquartered in Atlanta, Georgia. The company recorded revenues of $23,104 million during the fiscal year ended December 2005, an increase of 6.3% over 2004. The companys net profit was $4,872 million in fiscal year 2005, an increase of 0.5% over 2004 (Coca-Cola annual report, 2006). The company is a clear leader in the soft-drink market, especially in the UK. The European Union segment is the largest revenue segment of the company. Moreover, Coca-Cola is the worlds leading brand. Business-Week and Inter-brand, a branding consultancy, reckoned Coca-Cola as the leading brand in their top 100 global brands ranking in 2005 (Datamonitor, 2006a). All the above has been achieved with the aid of a very carefully planned marketing communication strategy consistently over the years. To attract younger consumers to its flagship cola, Coca-Cola launched new marketing and ad campaigns in 2003. It also changed graphics on Coke bottles and adopted a traditional look for its cans. On observing Coca-colas latest adverts and promotional activities it is clear the organisations target audience continues to be the young generation. The company has a tie up with Apple computers and provides free iTunes song on every bottle cover as a promotional activity. Given the popularity of Apples iPod among the young audience a promotional collaboration with the computer giant sends a very strong message to the consumers. The new colourful campaign labelled by the company as ‘the coke side of life reinforces the youthful image of the brand. There has always been an attempt to create a fun image for the drink, which till now the company has managed to communicate extremely effectively. Besides this the company has launched the new range of Coke Zero, which is an attempt to meet the industry requirements of health conscious drinks. Although diet Coke was already present, it was predominantly communicated as a female drink. Hence to expand its target audience to include the males, Coke had to launch a new drink communicating a fresh unisex message. Another trade-mark Coca-Cola way of promoting its products has been the use of high-profile sports events to promote its brands. The company was been chosen as one of the official sponsors for the FIFA World Cup 2006 in Germany, as well as the Olympics Games 2008 in Beijing, China (Datamonitor, 2006a). The company has the opportunity to use these two high-profile events to strengthen its brands even further. Hence it is quite clear the target audience for the communication strategy is the younger generation. To provide a better a break down of the communication strategy employed by Coca-cola in terms of the communication mix is provided below. Advertising: The maximum amount of investment made by the company is in this area by employing leading personalities from sports, movies and other arenas. The advertisement costs for the company have been astronomically high and it has been highly criticised for it in the past (Datamonitor, 2006a). Sales Promotion: There are constant offers that come with a bottle or can of coke, be it free song on iTunes or a buy one get one free offer, there is always an incentive to buy. Publicity and Public relations: As mentioned earlier, Coke as a brand has been the first one to set a trend of sponsoring big occasions and creating strong opportunities for publicity. Personal selling and direct marketing: The only means of direct consumer interaction seems to be the internet which has a highly interactive and colourful website. Moreover, it has a barrage of competitions and opportunities to win a prize for its visitors thus providing another form of incentive. 4.2 Pepsi Cola PepsiCo is a leading global snack and beverage company. The company manufactures markets and sells a range of salty, convenient, sweet and grain-based snacks, carbonated and non-carbonated beverages and foods (Datamonitor, 2006b). The company operates in 200 countries besides the US and Canada (Datamonitor, 2006b). It is headquartered in Purchase, New York. The company recorded revenues of $32,562 million during the fiscal year ended December 2005, an increase of 11.3% over 2004. The net profit was $4,078 million in fiscal year 2005, a decrease of 3.2% from 2004 (Datamonitor, 2006b). It is however the second-largest manufacturer of carbonated soft-drinks in the world, second only to Coca-cola. There is not much to differentiate between Pepsi and Cokes current campaign elements. The reason and timing of the launches might be different and are discussed later on in the report. Pepsi has similar to Coke made music a part of its communication strategy by joining hands with yahoo music. Although not as attractive was the Coke campaign, the message is still louder, clearer and younger than ever before. Pepsi is sponsoring and flaunting a lot of sports personalities in its adverts as well ranging from rugby to cricket. Pepsis new message says ‘its the cola which is in synchrony with Pepsis tradition of structuring its messages to induce and assert choice over Coke. The communication mix is pretty much the same as that of Coca-cola. 4.3 The Supermarket Cola Supermarket colas include the likes of Tesco, Somerfield, Lidl etc. The primary aim of these colas is to give value for the customers money, in coherence with its main business objective. All supermarket brands have designed their communications strategy to achieve this main objective. For instance, the Tesco Cola would have price written on it in big font. Moreover, the label design and the content colour is similar to that of Pepsi and Coke to ensure that the customers are aware that they are getting the same product for a much more cheaper price. However, since this is not a very big segment of revenues for these supermarkets, specific communications based on promoting these drinks are not found. 4.4 Discussion Based on the above analysis a few crucial issues need be discussed to provide a deeper insight into the choice of the communications strategy chosen by each of the organisations. 4.4.1 Target Audience It is apparent from the above analysis that the communications strategy of all the three organisations is primarily based on identifying the target audience i.e. market segmentation. This could be a broad category based like the younger generation in case of Coke and Pepsi or a people shopping at the supermarkets in case of Tesco cola or other supermarket brands. The fundamental idea is to perform an image analysis and choose a communication strategy which would define a desired image (could be different from the present one). Moreover, this would also differ from product to product i.e. a diet coke is targeted more at the health conscious women. The current communication strategies in all three instances above seem to be hitting their target, however Coke as usual seems to be pulling out the best suited tricks with Pepsi just following suit i.e. taking music on board the communication strategy with iTunes seems to have boosted Cokes position much more while Pepsis association with yahoo music came only as an after thought. 4.4.2 Communication objective In cokes case the objective seems to be to maintain its strong brand identity and constantly renew it to keep the youthful feeling going. Since Coke is the market leader the communication objective does not have to attempt to change either the cognitive, affective or behavioural responses from its consumers. Pepsi on the other hand seems to be attempting to generate a liking among its target audience and capture Cokes share of the market. However, this does not seems to be working evident in Pepsis decreasing sales in the UK and the US (Datamonitor, 2006b). As far as the Supermarket brands are concerned Tesco colas communication objective is quite straight forward i.e. inducing preference among its customers to buy its product over the bigger brands by keeping the prices low and providing more value for money to its customers. 4.4.3 Message design The message design needs to reflect the communication object and appeal to the target audience. Cokes latest message says ‘the coke side of life, while Pepsi has been trying to woo its customers by ‘its the cola and the supermarket colas attempt to design the bottles similar to that of the bigger brands and add the word ‘value to the label. The messages from each of the three players seem to be in synchrony with their objectives, Cokes message design seems to have the right emotional selling proposition (ESP). 4.4.4 Message source The message for Pepsi and Coke are delivered by attractive and fit people predominantly from the sporting arena. This again reinforces the ‘health conscious image of the new drinks like Coke Zero. Moreover these are both male as well as female promoting zero calorie drink to expand the target audience from women to include men. However, how much the consumers trust the credibility of the people who communicate these messages to them remains to be seen. The supermarket Colas dont have to use these as their primary aim is to communicate to the consumer that it is a cheaper alternative and it is cheap because of meagre expenses in advertising. 4.4.5 Communication Channels Considering the size of the target audience the mode of communication chosen by Pepsi and Coke are justified i.e. the main channel of communication is television and internet. Adverts in papers, magazines and streets are commonly employed as well. However, the most cost intensive means is the television with each advert requiring a gargantuan amount of money. As mentioned earlier the supermarket brands cannot afford a high communication budget on solely marketing the colas especially at the price they need to sell it for. 5 Conclusion and Recommendations Taking into consideration all the points discussed above it can be concluded that the current communication strategy and mix employed by the organisations under scrutiny are a result of the changes in their external environment and are in synchrony with their apparent communication objectives. However, overall degree of influence exerted by the Pepsi communication message seems to be lower than its arch rival. While a consumer survey would be required to add credibility to the above statement the analysis and discussion do provide a useful insight into the communication strategy formulation process and the choice of the communication mix based on which few recommendations can be made. Identifying the target audience is the most crucial step towards developing an effective communication strategy. Moreover, while identifying the target audience and developing communication objectives the marketer needs to ensure that any gap between the current public perception and the image sought are covered. When deciding the marketing communication mix a cost benefit analysis of each tool needs to be done to ensure that the most effective strategy is produced within optimum budget. It is imperative to measure the marketing communication effectiveness by asking the target audience to recall the message, frequency etc in order to make any effective changes to an existing strategy.

Royal Mail Privatization

According to the Business News on ‘BBC’ which was updated on 8 October 2013, the government intended in privatizing Royal Mail as this had been planned for many years. Royal Mail employees have been given 10% of the shares as part of a stock market flotation. Business Secretary Vince Cable described it as â€Å"the biggest employee share scheme for almost 30 years†. Meanwhile, the public have been given the opportunity to apply to buy shares online until 8 October.An amount of 750 pounds will be the minimum investment for public while the minimum investment for those Royal Mail employees who wished to buy additional shares is 500 pounds. However, an additional 15% of the government’s stake will be sold if the demand for the shares is very high in what is called an ‘over-allotment’ option. â€Å"The company needs access to private capital in order to grow and compete. † said the government and Royal Mail management.Parcel delivery from in ternet shopping is far more important to Royal Mail’s business compared to the delivery of letters, which is shrinking. Furthermore, in order to try to cut public from spending and borrowing more money, the government has been reluctant to invest large sums of money at a time. Moreover, Royal Mail has also been facing competition from private operators such as ‘TNT’ and ‘UK Mail’. Post Office will not be affected in the privatization because it is now a separate company from Royal Mail.The government said that they want to invest more money in the Post Office network as they want to prevent branch closures and eventually set it up as a mutual business. In conclusion, the reason I have chose this particular topic is because Royal Mail is one the most popular and fast delivery postal service Company in the United Kingdom and I personally agree in Royal Mail being privatized as it is giving them a chance to grow and compete in business.

New Product Launch Marketing Plan Essay

Executive Summary Learning Team A has shown in the first two phases of the marketing plan that individuals exercise for a variety of reasons including obesity, addressed target markets (recreational, fitness, and professional athletes), decision motivators and buying behaviors (individual needs and health concerns), the Product Life Cycle, the four P’s, and the product mix. Within this final phase, Learning Team A will be discussing situational analysis, market growth potential and competitive analysis, segmentation, target market, and positioning, pricing and distribution, and marketing communication. Also discussed will be the financial aspect, intended market objectives for year 1, year 2 and year 3, implementation milestones, and finally, evaluation and control metrics and methodology to measure performance. Situational Analysis My Run Buddy offers a new innovation in fitness technology as the first voice commanded treadmill. Its product marketing on extraordinary combination of powerful design and features are the key factors for its product brand development and market growth in the fitness industry. Enhancing and implementing strategic marketing plan will also be essential to the success of My Run Buddy. Market Growth Potential and Competitive Analysis There are so many treadmills out on the market today, individuals try to find just the right one that will give them just the right workout for their lifestyle. With the innovative features that are installed on My Run Buddy, such as the Voice Command option, Learning Team A believes that this will escalate My Run Buddy to the top of everyone’s list of treadmills. Learning Team A estimates that with these innovative features, sales will be high and  profits will be generated. Learning Team A compared My Run Buddy with two different treadmills that are out on the market today, the LifeSpan Treadmill and the Life Fitness T5-0 Treadmill. After reviewing both of these, the one that comes closest to My Run Buddy is the Life Fitness T5-0 Treadmill. The Life Fitness T5-0 Treadmill has many of the similar features, warranties and price range; however, it does not have the Voice Command feature. The Voice Command feature is what is unique to My Run Buddy and everyone that uses this machine, whether it be at home or in a gym, will feel comfortable with the features and enjoy the easiness of programming it to their respective needs. Marketing Strategies The major strategies to market My Run Buddy are aimed toward health and fitness industries. According to Wellsource (2014), in the next five years, an increase of at least 4.2 percent within five years is projected for the demand in services and equipment for the multibillion-dollar health and wellness industry. My Run Buddy will reach out to male and female customers mostly between the ages of twenty to forty years old, which does not limit customers who are fifty years of age and above because of the growing demand to promote active health lifestyle for all ages. In addition to the market target stated, a small percentage of customers who may use My Run Buddy include professional athletes preparing for competitions such as marathons or the Olympic games. Positioning My Run Buddy focuses on its ability to become as the first voice commanded treadmill providing extraordinary combination of powerful design, comprehensive product features, and positive health and fitness results to its customers. Its major advantage compared to other existing treadmills is its capacity to offer personalized fitness workouts to ensure safe workouts based on each user’s health status, vital signs, and intensity of workout. Marketing Program Kotler and Keller (2012) mentioned that consumers often make the decision to purchase certain products based on how they perceive the price of the  product is rather than the marketer’s stated price. The automobile may cost $100,000, and if some customers perceive the particular price to be reasonable price for the automobile, they will purchase it based on their perception and not because of the fact that marketers set the price of the automobile as $100,000. Same customer may feel that $30,000 for different automobile is too expensive even though he or she felt that $100,000 for the automobile was reasonable for them because they perceive each products differently. Kotler and Keller (2012) also mentioned that customer are less sensitive to price of the product when they believe that 1) there are not too many similar products in the market that can replace the quality of the given product; 2) the high price of the product can be justified; 3) stated price of the product is just a small cost of obtaining unique product for the life time. Learning team A intends to set the price of the voice commanded treadmill to create the perception that the price of voice commanded treadmill is reasonable enough for a customer to purchase the customized treadmill that can enhance their health status for the rest of their lives. Rather than matching the price of the treadmill to another company’s lower price of the treadmill, Learning team A believes it will be beneficial for the company if the company can justify that customers are paying for superior quality of the voice commanded treadmill, and they are saving money for more value on the voice commanded treadmill by paying the stated retail price. Kotler and Keller (2012) stated that companies need to consider four different objectives when they are attempting to determine the level of effectiveness for their market logistics: 1) How should the company handle orders from customers? 2) Where should the company store their products? 3) How much products should the company store in the designated storage space? And 4) How should the company distribute the product to the customer? Learning team A believes it is best for customers to be able to order the voice commanded treadmill from the company’s internal website or the electronic commerce company, such as Amazon because customers do not always have time to visit the local retail locations to order the product. Learning team A believes the company should store voice commanded treadmill in warehouses located in west coast, east coast, and southern states and use  the fast transportation method, such as FedEx, UPS, and USPS to expedite the shipment process. Learning team A does not recommend the company to store excessive amount of voice commanded treadmill in their storage locations, but they suggest that company’s logistic professional and sales professional should work together to determine the projected amount of sales for the given period and attempt to clear out the amount of inventory if they become too excessive by promoting clearance sales events. Marketing Communication Plan Multiple methods of advertising and promotion for My Run Buddy will be used as part of marketing plan for reaching out to its target market. Kiosks will be installed in stores and retailers selling the product, where its shoppers will experience free product demonstration. Discount coupons, extended warranty, free product delivery, or free trial offers are also few promotions to be considered for customers. Other than kiosks in stores, My Run Buddy can also be offered for free trial or deals to different fitness locations such as LA Fitness or Gold’s Gym. Furthermore, advertising through multiple media such as print, online, television will be utilized to spread information about the product. Financial Information Our cost structure allow us to pass some savings and still have a solid 200% contribution margin which means that even if we start with low profit, we can sustain the operation enough to see the product establish in the market. Our Policy is to have certain allowances and discounts for wholesalers tie to our AR so our Promotional Pricing follow the following: Total Cost (Including Labor, Overhead, and Transportation) per unit: $2,000 US Direct Cost (Parts, electronic components, etc†¦) per unit: $1,250 US Contribution Margin Goal (Floor Price): $2,500 Sensitivity on Total Profit without marketing expense: Price 1: $3,600 (80% Profit) p unit Price 2: $3,200 (60% Profit) p unit. We will sell the Unit to the Wholesale at $3,600 with a contractual allowance to renew each year of 5% prompt pay discount (less than 30 days), and an additional volume (more than 10 Units per month) discount of 7% of  the marked price. This will allow the wholesaler the possibility to pay only $3,181 per unit if they pay on time and order 10 units per month. A savings of $419 per unit or 11.64% discount. Our closest competition based on the specs (4.0 Motor, Absorption pad, Monitor, etc.. but without the voice activation is the Life Fitness Club Series Treadmill (http://www.treadmilltalk.com/treadmill-comparison-chart-5.html) with an average price in the US of $5,500. Financial Objectives To start sales with a minimum of 60% Profit To increase sales by 2% in Year 2, and another 5% Year 3 To keep plan under budget Break Even Analysis Cost to produce a treadmill unit (Direct Cost): $1,250 Fixed Cost (Annual Overhead): $9,000 ($750*12) If selling for $3,200, then we need to sell 5 Units to break even! ($9,000/ ($3,200- $1,250)) If selling for $3,600, then we need to sell 4 Units to break even! ($9,000/ ($3,600- $1,250)) If selling for $3,181, then we need to sell 5 Units to break even! ($9,000/ ($3,181- $1,250)) Marketing Expenses We are estimating a marketing expense (promotion, training, etc†¦) of $500 on Year 1, $400 Year 2, and $280 on Year 3 Per Unit; these figures are considered in the budget. Forecasting Demand We are estimating a total of 200 Units sales on year one with an increase of 2% in Year 2, and another 5% Year 3. We will keep the price the same for the first 3 years; therefore we expect the following each year: Year1: $636,200 in revenue with a 64.7% Profit Year2: $648,924 in revenue with a 64.7% Profit Year3: $681,370 in revenue with a 64.7% Profit Marketing Objectives Year 1: Establish the Product in the industry: To be one of the top 5 brands in the fitness equipment industry among the wholesalers and the consumers. Year 2: Increase Sales on a steady pace: To increase the number of wholesalers purchasing our product by 7%. Year 3: Brand Management: To ensure consistency between our brand licensing strategy and the overall business goal† and to focus on maximizing leverage of the brand. Implementation Milestones Milestones during this project will be the main guides to product progression and success. In order to determine whether the product development and launch is on track our team has decided to set in place milestone or timeline marks to stay on track. Our product will have 4 major milestones with different sub sectioned goals. The first milestone will be identifying customer needs and within this major category we have to accomplish the following goals; business problems, customer requirements, business opportunity, target application and technology requirements/abilities. The second milestone will be to accomplish understanding of the market opportunity. Within this we plan to accomplish industry trends, market size and growth, target market and finally market channels. The third milestone will be entering the market. Within this second major milestone we will accomplish product positioning, competitive strategies, pricing, marketing plan, sales strategy, sales tools and customer support. The third milestone will be a continuous process during the length of the product. The final milestone is generating revenue and the goals accomplished will be establishing partners, channels and leads. The last milestone will also be a continuous process for the length of the product. Milestones may be introduced and revamped depending on the shift of the product lifecycle. Since our team is aiming for continuous growth and success, we are aware that milestones need to be in place and also re introduced so that a cycle does not fail and we continue to succeed. Evaluation of Metrics and Methodology Elrod, Susan Murray, and Bande (2013) mentioned that there are four different categories of performance measures supply chain companies consider when attempting to determine the level of effectiveness for their supply chain management system: financial cost, quality, time, and flexibility. The cost to produce the product, the cost to distribute the product to the customer, and the cost to store the product in warehouse are some of the key  factors affecting the financial cost category of the supply chain management performance metrics (Elrod et al, 2013). Customer’s perceived value of the product, level of accuracy of the product, and the ability for a company to distribute the product safely to the customer without any damage fall under the quality category under the performance metrics for supply chain management (Elrod et al, 2013). Learning team A intends to incorporate similar set of performance metrics by evaluating production cost and inventory cost against the amount of revenue the voice commanded treadmill generated for given period of time to determine if the cost of product is exceeded by the revenue the product generates. Learning team A will also evaluate how fast the company can distribute the voice commanded treadmill to its customers without damaging the product and how well the voice treadmill can perform according to the specific features on the product to obtain customer loyalty. Contingency Planning According to Mindtools.com (2014), â€Å"The need for contingency planning emerges from a thorough analysis of the risks that your organization faces. It is also useful in thinking about new and ongoing projects: what happens when ‘Plan A’ does not go as expected?†. Contingency planning is highly important to our team and will be the foundation we follow for risk assessment and planning. We will minimize error and failure by expecting the worse. What if the consumers do not want to buy our product, what if it doesn’t sell as much as we thought it would. By preparing for the worse we will be setting up for successful future. Our contingency plan will be to continuously conduct risk assessment regardless of how well our product is doing. Communicating issues and good ideas will be a constant goal within the product team and shareholders involved. If at whatever point we need to retrain or train personnel our team is equipped with the information to do so. We will keep documentation of successes and failures no matter how big or small. Finally we will evaluate performance and implement goals so that we are able to assess how well the product is doing. Conclusion In conclusion, Learning Team A has shown, within their marketing plan, that the Voice Command treadmill is a unique product that will generate large profits for the proper company in today’s society. Learning Team A has  also shown how this type of treadmill is more advanced than those on the market with the addition of the Voice Command feature and how it will be accepted in the long term by consumers looking for the proper workout equipment to maintain their health. With this new feature, Learning Team A feels that consumers will be drawn to My Run Buddy for their health needs as the innovative features lets them feel more comfortable working out and they don’t have to worry about calling anyone if there is a medical condition that arises, all they would have to do is tell the machine to contact the hospital. References Elrod, C., Susan Murray, P. E., & Bande, S. (2013). A Review of Performance Metrics for Supply Chain Management. Engineering Management Journal, 25(3), 39-50. Kotler, P., & Keller, K. L. (2012). Marketing management (14th ed.). Upper Saddle River, NJ: Pearson Prentice Hall. Wellsource. (2014). Market trends project more growth for wellness industry. Retrieved from http://www.wellsource.com/company-news/Market-Trends-Project-More-Growth-for-Wellness-Industry.html Mindtools. (2014). Contingency Planning. Retrieved from http://www.mindtools.com/pages/article/newLDR_51.htm

The Constitution Of The American South After The Civil War

Amendments are put in place to make changes to the U.S. Constitution to adapt a regulation or expand on the rights of individuals and groups of people. Two amendments that play a significant role in the United States Constitution to this very day are the 13th and 14th amendments. These amendments are known as the reconstruction amendments because the documents were important in implementing the Reconstruction of the American South after the Civil War. Their advocates saw them as transforming the United States from a country that was half slave and half free to one in which the constitution guaranteed blessings of liberty which extended to the entire populace, including the former slaves and their descendants. The Thirteenth Amendment†¦show more content†¦A clause is a sentence in any part of our constitution. Firstly, is the citizenship Clause which gives individual born in the United States, but especially at that time, African Americans the right to citizenship. Secondly, the due process clause which protects the 1st amendment rights of the people and prevents those rights from being taken away by any government without due process. Due process is a trial by jury for all people accused of wrongdoing. Lastly, equal protection clause is the part of the fourteenth amendment which states that there may be no discrimination against people by the law. By directly mentioning the role of the states, the 14th Amendment greatly expanded the protection of civil rights to all Americans. Another essential point, was President Abraham Lincoln s position on slavery, which is one of the central issues in American history. Lincoln often expressed disapproval towards slavery. When the American Civil War began in 1861, President Abraham Lincoln carefully outlined the conflict of the abolition of slavery. On September 22, soon after the Union victory at the Battle of Antietam in Maryland, Lincoln issued an introductory Emancipation Proclamation, declaring that as of January 1, 1863, all slaves â€Å"shall be then, thenceforward, and forever free.† While the Emancipation Proclamation did not free a single slave it was an important turning point in the war, transforming the fightShow MoreRelatedReconstruction and the Myth of the Lost Cause1511 Words   |  7 PagesAfter the Civil war, the Union was reestablished in racism. Reconstruction was the constitutional effort (13th, 14th, 15th amendment) of the north to force the south to treat the freed slaves as citizens. Re construction failed miserably. It is one of the least glorious parts of American history. Some nationalists like to think that there are no badly edifying chapters of America, and decide to forget about it. 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