Thursday, October 17, 2019
Business Intelligence Information Systems Essay Example | Topics and Well Written Essays - 750 words
Business Intelligence Information Systems - Essay Example There are many other roles of business intelligence systems as well (Mulcahy, 2012). The reason why companies use business intelligence systems is for the reason that they collect a lot of data from their business operations. Data are then stored, and in order to maintain and keep a check on these data, the business needs a reliable software such as MS Word and Excel and many other data keeping software and applications. Maintaining such data becomes complicated if two or more applications are used. That is why businesses use business intelligence software which provides adequate maintenance of all the data (Mulcahy, 2012). This paper aims to discuss two business intelligence software products along with their features and a description of their manufacturers. Spotfire The real factor of success for a business in terms of exploiting information in order to gain a benefit is ââ¬Ëreportingââ¬â¢. When the reporting software of a business is down, it means that the software is not relaying information to the right people at the right time due to which decision making problems arise. Spotfire is business intelligence software developed by TIBCO which contains all the necessary functions (TIBCO, 2011). ââ¬ËTIBCO Software Inc.ââ¬â¢ is a software company which manufactures business intelligence software amongst other infrastructure software for large and small business organizations. The software manufactured by TIBCO is used on-premise and or as cloud computing setting. There are many customers which enjoy the products built by TIBCO Inc (TIBCO, 2011). ââ¬ËSpotfireââ¬â¢ is business intelligence software which provides much optimized intelligence analytical applications for the maintenance and efficiency of data. There are plenty of features of Spotfire; it offers analytical software combined with visuals and an interactive component which allows companies to exploit their data and retrieve whatever data they want to. The main feature of the Spotfire software system is the fact that you can actually view your intelligence and the interaction pertaining to your businessââ¬â¢s intelligence due to the fact that Spotfire has a very good data visualization interface (TIBCO, 2011). Spotfireââ¬â¢s technical and intelligent approach to business intelligence is aiding various business enterprises in increasing their performance efficiently. Finance companies use Spotfire to maintain and keep a check on compliance and risk, manage various selection tasks and maintain attribution analysis (TIBCO, 2011). Necto ââ¬ËNectoââ¬â¢ is very good business intelligence software which is manufactured by Panorama. Necto is the latest in the line of business intelligence products and what sets it apart from other business intelligent programs is the fact that it is a socially enabled intelligence solution which has been never seen before. The Necto software has a wide variety of features which are very beneficial to business and other organi zations; it offers a very innovative, ingenious and simple way to link data, analysis of the data and the people working in the company. Necto is a new technology which is more efficient and much faster; it is a generation of
Abraham Lincoln's First Inaugural Essay Example | Topics and Well Written Essays - 750 words
Abraham Lincoln's First Inaugural - Essay Example The nation was at the crossroads with the process of meeting the threat of secession and absorbing the shocks of the related challenges.Abraham Lincoln, the greatest American President, had to face the bitter critics for his style of functioning. In this connection, one important aspect related to his Presidency, is worth profound consideration. Wise people say desperate situations need desperate remedies. Lincoln was not a power hungry individual and he reached up to the office of the President by employing fair, democratic means. Those who accused Lincoln of ââ¬Å"executive usurpationâ⬠need to bear in mind this trait of his personality. He acted and used the power of the Executive under extraordinary circumstances, when the nation was in the thick of Civil War. He took office as the President and then his executive branch consisted of a small number of staff but it had expanded substantially by the time his term was over. His critics leveled charges against and labeled him of being despotic for sidetracking a decision of the Chief Justice of the Supreme Court and for the suspension of habeas corpus. His actions were set as precedents by other Presidents at the time of war for increase of Executive authority. The discussion on the legal implications as for the power of the Executive was still at infancy when Lincoln assumed the office of the President. One of the examples quoted was, Lincoln waged war by raising armies but the Constitution directed the Congress to take action on those lines. Roy. P. Basler argues, ââ¬Å"Now, it is insisted that Congress, and not the Executive, is vested with this power. But the Constitution itself is silent as to which or who is to exercise the power.â⬠(601) Unity, integrity and security of the nation were of utmost importance. Actions of Lincoln needed to be judged from the angle of his conscience, and not in which legal frame they would fit into. In his address to the Congress in July 1861, he silenced his critics by stating categorically that he would do anything that he considered right in the interest of the nation in a state of rebellion. Basler substantiates this position and writes, ââ¬Å"It was with the deepest regret that the Executive fo und the duty of employing the war power in defense of the Government forced upon him.â⬠(609) Lincolnââ¬â¢s stand on the Emancipation Proclamation is liable to be interpreted both ways. That he was trying to usurp more powers for himself as the President of USA or was it the situational demand? That was a legal document written by Lincoln himself and it was drafted from defense view point. He did that as the Commander in Chief. He gradually expanded his powers as the President, like the horse that moves ahead, well-controlled by the jeans. That particular Executive decision was supported by indisputable legal stand. Under the umbrella of the legal provision Lincoln proceeded to act to abolish slavery and involuntary servitude. Even otherwise, Lincoln was a rebel against procedures, wherever they blocked national progress. Lincoln was a man of words and a man of action who delivered results to his country. Under any weak and wavering President, the unity of United States of Am erica would have been in peril and the country would have been torn into fragments. He was not inclined to over-reach for the sake of
Wednesday, October 16, 2019
Business Intelligence Information Systems Essay Example | Topics and Well Written Essays - 750 words
Business Intelligence Information Systems - Essay Example There are many other roles of business intelligence systems as well (Mulcahy, 2012). The reason why companies use business intelligence systems is for the reason that they collect a lot of data from their business operations. Data are then stored, and in order to maintain and keep a check on these data, the business needs a reliable software such as MS Word and Excel and many other data keeping software and applications. Maintaining such data becomes complicated if two or more applications are used. That is why businesses use business intelligence software which provides adequate maintenance of all the data (Mulcahy, 2012). This paper aims to discuss two business intelligence software products along with their features and a description of their manufacturers. Spotfire The real factor of success for a business in terms of exploiting information in order to gain a benefit is ââ¬Ëreportingââ¬â¢. When the reporting software of a business is down, it means that the software is not relaying information to the right people at the right time due to which decision making problems arise. Spotfire is business intelligence software developed by TIBCO which contains all the necessary functions (TIBCO, 2011). ââ¬ËTIBCO Software Inc.ââ¬â¢ is a software company which manufactures business intelligence software amongst other infrastructure software for large and small business organizations. The software manufactured by TIBCO is used on-premise and or as cloud computing setting. There are many customers which enjoy the products built by TIBCO Inc (TIBCO, 2011). ââ¬ËSpotfireââ¬â¢ is business intelligence software which provides much optimized intelligence analytical applications for the maintenance and efficiency of data. There are plenty of features of Spotfire; it offers analytical software combined with visuals and an interactive component which allows companies to exploit their data and retrieve whatever data they want to. The main feature of the Spotfire software system is the fact that you can actually view your intelligence and the interaction pertaining to your businessââ¬â¢s intelligence due to the fact that Spotfire has a very good data visualization interface (TIBCO, 2011). Spotfireââ¬â¢s technical and intelligent approach to business intelligence is aiding various business enterprises in increasing their performance efficiently. Finance companies use Spotfire to maintain and keep a check on compliance and risk, manage various selection tasks and maintain attribution analysis (TIBCO, 2011). Necto ââ¬ËNectoââ¬â¢ is very good business intelligence software which is manufactured by Panorama. Necto is the latest in the line of business intelligence products and what sets it apart from other business intelligent programs is the fact that it is a socially enabled intelligence solution which has been never seen before. The Necto software has a wide variety of features which are very beneficial to business and other organi zations; it offers a very innovative, ingenious and simple way to link data, analysis of the data and the people working in the company. Necto is a new technology which is more efficient and much faster; it is a generation of
Tuesday, October 15, 2019
Describe somene who taught you to read or write and explain this Essay
Describe somene who taught you to read or write and explain this person's significance in your life - Essay Example He exposed me to many narratives, which he liked, and often tasked me to compose narratives and recite to him. My narratives were brief and incoherent but he appreciated them, may be because of his professional background, and motivated me to compose a narrative each time he recited one to me. This became the basis of my writing class as he then tasked me to start writing my compositions and guided me through my mistakes in spelling and word structure. The literature routine perfected my writing potential at the early stage. The approach that my uncle used in teaching me to write identifies his significance in my life. He instilled a culture of creativity in me and demonstrated to me that I can utilize my environment for creativity. While this potential was earlier restricted to narrative composition, I have learnt of its application in real life and utilize it in creativity and innovation for solution of real life problems besides development of artistic work. My uncle therefore empowered me into a social and economic resource in the
Monday, October 14, 2019
The Crucible by Arthur Miller Essay Example for Free
The Crucible by Arthur Miller Essay he Crucible emerged from a true story which makes the play more convincing. It was based on the Salem, Massachusetts Witch Trial in 1629. At the time people were extremely religious and believed in witchcraft and devilry. It was strictly forbidden for people to dance, sing, and laugh and if they were discovered doing these activities, they were accused of witchcraft and many were to die of this. Miller decided to write a play which would heighten Americas awareness of the impending of the communist in the 1950s. It is important for the audience to understand the historical background, and understand what living in Salem, Massachusetts was like in the 17th Century. The people of Salem were Puritans- descendents of the Pilgrim Father, who arrived in America from England in 1960 because they wanted a stricter way of life with regard to their religion. Their lives consisted of working, eating, sleeping and praying. Any kind of enjoyment was prohibited. This meant that singing and dancing was forbidden and seen as an interaction with the devil. People of Salem believed in witchcraft, and in 1692, many people were accused and hanged because of this. People incriminated each other, both neighbours and friends. This shows that although on the surface, society appears united, cracks were beginning to emerge. In the 1950s there was a modern day witch hunt in America. Instead of hunting witches Free thinkers, That is people who had individual thoughts were accused of disloyalty and communist sympathies, which often resulted in loss of their jobs. In order to protect themselves, just as in The Crucible, they blamed others. The Crucible was inspired by Millers experiences of the 1950s. It was Senator Joseph McCarthy who created the hunt for communists. The similarities between the Crucible and McCarthys accusations of the 1950s were denounced. Without proof or evidence the inciting of fear and suspicion would lead in the 1950s to the eventual break up of families and friendship as people accused each other of disloyal acts against America. This was to lead to America becoming permeated by paranoia and scepticism. Before the audience even meets Abigail, they find out that she is a trouble maker with an endless capacity for dissembling. In the opening act between Parris and Abigail, tension rises as Parris persistently questions her about the night they were dancing in the woods, what did you do with her in the forest? But Abigail denies any accusations and always defends herself, But we never conjured spirits. However Parris does not stop questioning her and feelings begin to heighten when he mentions witchcraft, trafficked with spirits in the forest. Abigail vehemently assents herself by saying, we never conjured spirits. At this stage she is trying to defuse the situation but the audience are already experiencing a steady rise in tension.
Sunday, October 13, 2019
Company Comparison of Customer Satisfaction
Company Comparison of Customer Satisfaction CHAPTER FOUR RESEARCH FINDINGS: ANALYSIS AND INTERPRETATION 4.1 INTRODUCTION This chapter attempts to analyse questionnaire findings regarding customer satisfaction with the two land transport companies involved in the present study: a publicly-owned company (referred to as Company A) and a privately-owned company (referred to as Company B). Satisfaction rates of customers of both companies are also compared against each other in Chapter Five to illustrate which company provides more satisfactory services to its customers. Seventy questionnaires were distributed to the passengers of Company A and sixty to the passengers of Company B. Fifty questionnaires were completed by passengers of each company and returned to the researcher. This gives response rates of 71.4% and 83.3%, respectively. These return rates are acceptable response rates. Passengers who declined to participates either they claimed that they were not interested in the survey, whereas some other claimed they did not have the time to complete the questionnaire. 4.2 FACTORS MOTIVATING CUSTOMERS TO DEAL WITH THE COMPANY A Responses to the factors that have motivated the customers of this company are presented in Table 4.1 and illustrated in Figures 4.1 to 4.3. Factors motivating customers are divided into three groups: Reliability and Customer Service (RCS) factors (eight factors), Convenience and Accessibility (CA) factors (nine factors) and On-Board Services (OBS) (five factors). Responses to the eighteen statements are illustrated in Table 4.1. To facilitate data analysis, responses to the Strongly Agree and Agree groups were combined and presented in Figures 4.1 to 4.3 as SA/A. Similarly, for the Disagree and Strongly Disagree groups were combined as DA/SDA. The No View responses (NV) were left as it is. Table 4.1 indicates that between 4% and 20.0% of responding passengers declined to express their views. This indicates their indifference to the questionnaire items. Table 4.1. Reasons for choosing to travel with Company A Variables SA A NV DA SDA CA Convenient reservation and ticketing 76.0 16.0 8.0 0.0 0.0 CA Prompt and accurate reservation and ticketing 44.0 40.0 16.0 0.0 0.0 CA Good checking-in service 44.0 44.0 12.0 0.0 0.0 CA Frequent journey programme 40.0 40.0 20.0 0.0 0.0 CA Convenient journey schedule 36.0 48.0 12.0 4.0 0.0 CA Seat allocation 28.0 56.0 16.0 0.0 0.0 RCS Courtesy of employees 28.0 56.0 16.0 0.0 0.0 RCS Employees willingness to help passengers 36.0 48.0 16.0 0.0 0.0 RCS Employees knowledge to answer passengers questions 40.0 48.0 8.0 4.0 0.0 RCS Passengers are given personal attention 44.0 40.0 8.0 4.0 4.0 RCS Neat appearance of employees 40.0 44.0 16.0 0.0 0.0 RCS Safety of Driving 44.0 44.0 8.0 0.0 4.0 RCS Sincere interest in solving problems 36.0 44.0 16.0 4.0 0.0 RCS On-time performance 36.0 48.0 16.0 0.0 0.0 OBS Seat comfort 40.0 40.0 12.0 8.0 0.0 OBS Meal service 48.0 32.0 8.0 12.0 0.0 OBS On-Board entertainment services 40.0 44.0 4.0 4.0 8.0 OBS Up-to-date coach and on-board facility 40.0 44.0 4.0 4.0 8.0 CA = Convenience and Accessibility RCS = Reliability and Customer Service OBS = On-Board Services 4.2.1 SATISFACTION WITH CONVENIENCE AND ACCESSIBILITY FACTORS Passengers (thereafter referred to as respondents) were asked to express their agreement or disagreement with the six items relating to convenience and accessibility factors: Convenient reservation and ticketing (Item No. 1), Prompt and accurate reservation and ticketing (Item No. 2), Good checking-in service ((Item No. 3), Frequent journey programme (Item No. 4), Convenient journey schedule (Item No. 5), and Seat allocation (Item No. 6) (see Table 4.1, Figure 4.1). Patterns of their responses are analysed below. It is noted in Table 4.1 and Figure 4.1 that 92.0% of the respondents were satisfied (strongly agreed/agreed, SA/A) with the reservation and ticketing procedures undertaken by the company (Item No. 1). Only a small minority of respondents showed their indifference to this item, whereas none of them disagreed with it. The majority of the respondents (88.0%) were satisfied (SA/A) with check in service (Item No. 3) (Table 4.1, Figure 4.1), and a minority (12.0%) did not express their views, but none of the respondents were dissatisfied with this service. In terms of prompt and accurate reservation and ticketing (Item No. 2), convenient journey schedule (Item No. 5), and seat allocation (Item No. 6) (Table 4.1, Figure 4.1), 84.0% of the respondents were satisfied with these three items, and only 4.0% of the respondents were dissatisfied with convenient journey schedule (Item No. 5). 4.2.2 SATISFACTION WITH RELIABILITY AND CUSTOMER SERVICE FACTORS Respondents were asked to indicate their rate of satisfaction/dissatisfaction with eight items concerning reliability and customer service factors. The majority of respondents (88% of the sample) indicated that they were satisfied with employees knowledge to answer passengers questions (Item No. 9), and with safety of driving (Item No. 12). Only 4.0% of the respondents were dissatisfied with these services and 8.0% of them indicated their indifference. With regard to courtesy of employees (Item No. 7), employees willingness to help passengers (Item No. 8), passengers are given personal attention (Item No. 10), Neat appearance of employees (Item No. 11) and on-time performance (Item No. 14), the majority of respondents were satisfied (SA/A) with these items. However, between 8.0% and 16.0% of the respondents expressed their indifference to these items, and only 4.0% to 8.0% of them were dissatisfied with some of these items, as indicated in Table 4.1 and Figure 4.2. With regard to the item: sincere interest in solving problems (Item No. 13), 80.0% of the respondents were satisfied with it, and 16.0% of them expressed their indifference, whereas only 40.0% of them disagreed with it. 4.2.3 SATISFACTION WITH ON-BOARD SERVICE FACTORS Respondents were asked to indicate their rate of satisfaction/dissatisfaction with four items concerning on-board service factors. Table 4.2 and Figure 4.4 clearly show that 84.0% of the respondents were satisfied with on-board entertainment service (Item No. 17) and up-to-date coach and on-board facilities. However, 12.0% of them were dissatisfied and 4.0% expressed their indifference. Figure 4.3 also illustrates that 80.0% of the respondents were satisfied with the seat comfort (Item No. 15) and meal service (Item No. 16). However, 8.0% and 12.0% of the respondents were dissatisfied with Items No. 14 and 15, respectively, and 12.0% and 8.0% of them expressed their indifference with these two items, respectively. It can be noted that more respondents were dissatisfied with these four services than with the other items in other two dimensions. 4.3 FACTORS MOTIVATING CUSTOMERS TO DEAL WITH THE COMPANY B Responses to the factors that have motivated the customers of this company are presented in Table 4.21 and illustrated in Figures 4.4 to 4.4. Table 4.1 indicates that between 20% and 40.0% of the responding passengers declined to express their views. This indicates their indifference to the questionnaire items. 4.2.1 SATISFACTION WITH CONVENIENCE AND ACCESSIBILITY FACTORS Data presented in Table 4.2 and illustrated in Figure 4.4 show that 76.0% of the respondents were satisfied (strongly agreed/agreed, SA/A) with the reservation and ticketing procedures undertaken by the company (Item No. 1). However, the remaining 24.0% of the respondents expressed their indifference to this item, whereas none of them disagreed with it. Around two-thirds of the respondents (68.0%) were satisfied (SA/A) with prompt and accurate reservation and ticketing, whereas the remaining 32.0% of the respondents did not express their views, and none of the respondents were dissatisfied with this service (Table 4.2, Figure 4.4). With regard to the remaining four items (good checking-in service, Item No. 3; Frequent journey programme, Item No. 4; Convenient journey schedule, Item No. 5; seat allocation, Item No. 6), 60.0% of the respondents were satisfied with these services. The remaining 40.0% of the respondents either expressed their indifference to these items, or were dissatisfied with them (Table 4.2, Figure 4.4). Table 4.2. Reasons for choosing to travel with Company A Variables SA A NV DA SDA CA Convenient reservation and ticketing 36.0 40.0 24.0 0.0 0.0 CA Prompt and accurate reservation and ticketing 28.0 40.0 32.0 0.0 0.0 CA Good checking-in service 20.0 40.0 40.0 0.0 0.0 CA Frequent journey programme 16.0 44.0 32.0 8.0 0.0 CA Convenient journey schedule 20.0 40.0 32.0 4.0 4.0 CA Seat allocation 24.0 36.0 28.0 4.0 8.0 RCS Courtesy of employees 16.0 46.0 30.0 4.0 4.0 RCS Employees willingness to help passengers 20.0 42.0 26.0 8.0 4.0 RCS Employees knowledge to answer passengers questions 16.0 42.0 32.0 4.0 6.0 RCS Passengers are given personal attention 18.0 34.0 38.0 6.0 4.0 RCS Neat appearance of employees 20.0 44.0 20.0 8.0 8.0 RCS Safety of Driving 10.0 42.0 24.0 12.0 12.0 RCS Sincere interest in solving problems 12.0 40.0 32.0 12.0 4.0 RCS On-time performance 16.0 30.0 36.0 12.0 8.0 OBS Seat comfort 20.0 28.0 32.0 16.0 4.0 OBS Meal service 16.0 12.0 40.0 20.0 12.0 OBS On-Board entertainment services 12.0 24.0 44.0 12.0 8.0 OBS Up-to-date coach and on-board facility 16.0 44.0 24.0 4.0 12.0 CA = Convenience and Accessibility RCS = Reliability and Customer Service OBS = On-Board Services 4.3.2 SATISFACTION WITH RELIABILITY AND CUSTOMER SERVICE FACTORS Respondents were asked to indicate their rate of satisfaction/dissatisfaction with eight items concerning reliability and customer service factors. About two-thirds of the respondents (64.0% of the sample) indicated that they were satisfied with employees neat appearance (Item No. 11) (Table 4.2, Figure 4.5). One-fifth (20.0%) and 16.0% of the respondents expressed their indifference or dissatisfaction with this item. Most respondents (62.0% of the sample) were satisfied with the courtesy of the employees and employees willingness to help passengers. However, many of them either expressed their indifference, or were dissatisfied with these services. Less than three-fifths (58.0%) of the were satisfied with employees knowledge to answer passengers questions (Item No. 9), and 32.0% of them expressed their indifference and 10.0% of them were dissatisfied. Around half of the respondents (52.0% of the sample) were satisfied with passengers are given personal attention (item no. 10), safety of driving (item no. 13), and sincere interest in solving problems (item no. 14). The remaining half either expressed their indifference or, to a lesser extent, was dissatisfied with these items. However, only 46.0% of the respondents were satisfied with on time performance (Item No. 14), and the remaining 54.0% of them either expressed their indifference or were dissatisfied with this item. 4.3.3 SATISFACTION WITH ON-BOARD SERVICE FACTORS Respondents were asked to indicate their rate of satisfaction/dissatisfaction with the four items relating to onboard service factors (Item No. 18) (Table 4.2, Figure 4.6). Figure 4.6 indicated that about two-thirds of the respondents (68.0% of the respondents) were satisfied with up-to-date coaches and on-board facilities, whereas the remaining respondents either did not express their views (16.0% of the sample) or were dissatisfied with this item. Data presented in Table 4.2 and Figure 4.6 clearly indicate that less than half of the respondents were satisfied with seat comfort (Item No. 15) (48.0%), meal service (Item No. 16) (38.0%), and on-board entertainment services (item No. 17) (44.0%). The remaining respondents (62.0% to 52.0% of the sample) either did not express their view or were dissatisfied with these items. On the whole, it can be said that more respondents either showed their indifference to these three items (30.0% to 36.0% of the sample) or were dissatisfied with them (20.0% to 32.0% of the sample). 4.3 DEMOGRAPHIC CHARACTERISTICS OF RESPONDENTS The demographic characteristics of the respondents from both companies, Company A, and Company B are analysed and compared in this section. Figure 4.7 clearly demonstrates that the majority of respondents of both companies (88.0%) were young between 21 and 50 year old. This is not surprising given that these ages represent people who are more active and more mobile than in other age groups. Forty-six respondents (92.0% of the sample) of Company A were Libyan nationals and the remaining four (8.0% of the sample) were Arab nationals. As for Company B, all fifty passengers were Libyan nationals. In terms of gender, thirty (60.0% of the sample) of Company A respondents were males, and the remaining twenty (40.0% of the sample) were females. As for Company B, twenty-six respondents (52.0% of the sample) were males and the remaining twenty-four (48.0% of the sample) were females. It can be argued that females represented a high proportion of the total number of respondents. As regards their income, Figure 4.8 clearly demonstrates that the majority of respondents of Company A (72.0% of the sample) and Company B (88.0% of the sample) were on the high salary scale of between Libyan Dinars (LD) 201 and over LD350. People with these high salaries, in the Libyan context, are those who can afford to travel more than lower paid people. With regard to their occupation, the majority of respondents of both companies were managers, employees of a company, or government employees (Figure 4.9). Respondents referring to themselves as professional or students were not represented in Company B sample. Most Company A respondents (60.0% of the sample) have been working for periods of 3 to more than 6 years, and 64.0% of Company B respondents were also working for that period of time. The remaining respondents have been working from less than one year to three years. As for their qualifications, Figure 4.10 indicates that the majority of respondents were highly qualified educationally. Most of the respondents of both companies held Diplomas and Bachelors Degrees. In the following chapter, the rate of satisfaction with the eighteen questionnaire items indicated by the respondents of Company A and Company B will be compared and contrasted against each other. Research conclusions will be drawn out and recommendations for both companies and for future research are also outlined in the following chapter.
Saturday, October 12, 2019
How do firms penetrate an existing market? Essay -- Business and Manag
How do firms penetrate an existing market? Cadburys have to improve their levels of market penetration and also make more sales customers. Cadburys have improved their penetration which helps them to improve market share. It can increase in there market share which can create significant sales. Market penetration suggests a further penetration of existing markets with existing products. This will involve a strategy of increasing market share within existing segments and markets. à · Market development is a strategy requires the producer to develop raw market segments for products. à · Product development is the process of researching market needs, creating products to meet the identified needs. à · Diversification means going into new market with entirely new products. à · Market penetration is increasing the % of sales in present markets by taking sales from competitors. To improve their market penetration there are six district stages in the development process for new products are; - Ideas All Cadbury products start from ideas. These ideas may come from the following sources: Research and Development -This is where product development and market research working together. Mindstorming -This is where it involves few people developing ideas from words and concepts. Suggestion box - Here Cadburys is working close to the customer and the sales forces understand their needs and requirements. Forced relationships -At times one or more products can be joined together to form new product concepts. Competitors - Monitoring the actions of competitors may provide a rich source of new ideas. Screening of ideas -Once Cadburys ideas have been generated. It is important to screen for the ideas likely to be successful. Considerations may include how well the product fits in with others in the product range the unique element of any idea that makes it competitive. They are likely to demand for the product and whether or not it could be manufactured economically. The two main errors Cadbury needs to avoid when screening ideas are; à · They must not reject new ideas à · They must not develop poor ideas or Cadbury will loose money Market analysis Once Cadburys ideas have been screened market analysis begins. It involves analysis of the product market potential. This he... ...ment consultants in the USA. Stars These are products with a high market share like Cadburys in a rapidly growing industry. Unless Cadburys chocolate bar has not achieved this position through heavy discounting, it should be generating high profits. For Cadbury to remain a star in a competitive environment its chocolate bean will continue to need heavy marketing expenditure. Cash cow Cash cows have a high market share in a slow growing, but mature market. Cadbury could fall into this because there competitors do have higher cost slightly. But Cadbury benefits from high economic of scale. It can generate high profits which could be used to finance ââ¬Ëproblem children/question marksââ¬â¢. Question Marks and problem children This product has a low market share in a rapidly growing market. The business has to decide whether to with draw the product or to support it with heavy marketing, which could be difficult if it is not generating funds elsewhere. Dog This product has a low market share in markets where there is little or no growth. At this stage a product is at the end of its life cycle. The product is best if it is dropped out of its portfolio.
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