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Strategies For Essay Writing

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The Four Major Types Of Essays

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Best Essay Writers Here

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Custom Essay Writing Service

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Analysis Of Let s Just Talk - 1190 Words

Emoji Versus Tone: Let’s Just Talk George Shaw said it best with â€Å"The single biggest problem in communication is the illusion that it has taken place.† We use texting more often to communicate with others than we do placing a phone call and talking to someone. Talking employs a shared communication. You have two or more people interacting with each other, responding to statements or opinions. Texting is a message sent and does not necessarily require a response. You can text someone until your fingers bleed; however, if the other person does not respond, how will you truly know if you have communicated information to a person. Although texting is an easy process, there are many reasons why talking remains the preferred method of†¦show more content†¦You should silence your phone or perhaps not bring it with you to the meeting or while in the company of someone else. You should also avoid texting while sharing meals with other individuals. This can range fr om business luncheons to family dinners. Your attention should be on the other person and not your phone. On the contrary, it can be viewed as less offensive if the other person understands the reason behind your phone being in your presence. You could be a single working mother and waiting to receive a text message that your child is home from school. You could be waiting on an important message relating to a medical issue or even have a friend in the hospital. Explain this first and foremost so there is no reason for others to take your reading texts as offensive. Along the same lines, what about emoji’s or emoticons? Is this an acceptable form of communicating in text messages? Clearly it has become a standard for the U.S. â€Å"The French are the biggest users of heart emojis; Canadians use the most sports-oriented emojis; and Americans are the heaviest users of emojis related to bags of money, basketballs, birthday cakes, slices of pizza, and eggplants† (Goldsboro ugh, Reid). As silly as the emojis descriptions are explained, this has become an important part of pop culture in sharing your feelings through technology. There are still many whom believe this toShow MoreRelatedThe Firm Htc Presentation Script1475 Words   |  6 Pagesnow. Let s start to think about the implication from the case study on HTC as a pioneer in smart phone industry. At first we are going to talk the purpose and course of this case. The second we gonna talk is the firm introduction, the third one is the summary of network industry and then we gonna analyze the main issue on this case and strategy of HTC. At the last, we gonna show the present business status of HTC. 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A Study of Market Segmentation for Uk Frozen Food Industry free essay sample

A Study Of Market Segmentation For UK Frozen Food Industry Abstract The objectives of this study are to perform market segmentation for a SME in the frozen food sector. The study could form a basis of segmentation framework for a SME like Eden Farm, the framework once developed from academic literature would help to undertake a market segmentation in the frozen food industry with relevant segmentation criteria which would form a basis of targeting strategy for the company. In this Dissertation, the literature on Market Segmentation is reviewed and relevant criteria for segmentation in an industry are understood. The typology from the literature identifying the variables for segmentation and relevant strategic tools for analysis of the sector is used to develop a framework for segmentation in the industry. The framework is applied to carry out a detailed segmentation of the markets for frozen food, an analysis is carried out to understand the target markets and strategic tools used to identify the target markets. Along with the segmentation of the markets, an analysis of the results is carried out and recommendations are provided for strategic growth of the company. Contents Abstract 3 Acknowledgements 3 Introduction 3 Definition of the Companys Issue 3 Aims and Objectives of the Project: 3 Literature Review: 3 Review of Academic Literature for Segmentation: 3 Market Segmentation: 3 Definition of Market Segmentation: 3 Segmentation Logic: 3 The Segmenting-Targeting Framework: Segmentation Variables: 3 Segmentation Criteria: 3 Academic literature: 3 Literature Review on segmentation in the food industry: 3 Portfolio Analysis:3 Final Framework for addressing the Research Question: 3 Research Methodology 3 Research Objectives 3 Research Strategy: 3 Ethical Issues in Data collection 3 Data Collection Methods 3 Research Procedure 3 Validity of strategic tools 3 Project Report 3 Company Overview 3 Review of the issue in a business context 3 Methodology for Research 3 Data Analysis 3 Frozen Food Market Analysis 3 Analysis on Convenience Market 3 Analysis on Cash and Carry 3 Significance for Eden Farm3 Analysis on Symbol Groups 3 Symbol Groups to be targeted 3 Analysis on Forecourts 3 Contract Catering3 Exports 3 Target Customers for Eden Farm 3 Market Attractiveness Criteria for the company: 3 Business Competitiveness:3 Strategic Analysis for segment targeting: 3 DPM Matrix: 3 Recommendations: 3 Implementation Issues: 3 Critical Reflection and Conclusion: 3 Review of Work Process: 3 Reflection and critical analysis of the process: 3 Limitations of the process: 3 Conclusion and discussion of results in an Academic context: 3 Bibliography 3 List of Tables Page Table 1 Detailed Breakdown of Frozen Food Products Table 2 Recommended Customers for EF49 Table 3. a Market Attractiveness for Segments49 Table 3. b Market Attractiveness for Segments 50 Table 4 37 Business Competitiveness Scores for Various Segments 50 List of Figures Figure 2 Figure3 Figure4 Figure5 Figure6 Figure7 Figure8 Figure9 Frozen food market share by manufacturers 36 Frozen food market share by products 36 Comparison of market shares of products37 Market trends for desserts38 Convenience store sales 40 Convenience store market share 40 Sales of Eden Farm by Market Segment Sales Trends in catering 47 41 FigurelODPM MatriX49 Introduction The project report considers customer segmentation for the frozen food industry and evaluates the opportunities for targeted growth in the sector for Eden Farm, a I-JK based distributor of frozen food. The retail food industry is dynamic in nature and is very competitive for the distributors. However, growth opportunities exist in the sector when a thorough analysis is carried out and the targeted segments are evaluated. Hence, the study identifies growth strategies in the sector by using segmentation framework and relevant analysis. Definition of the Companys Issue Eden Farm is a distributor of frozen food and ice cream across I-JK with a strong base in the North East and Yorkshire. The companys prospect market is wholesale, cash and carry, symbol groups, CTNs, forecourts, independent supermarkets. At the moment, the company is trying to increase its market presence in various sub sectors of the market. The frozen food retail is represented by many sub sectors and is composed of many market players. The business on the whole is variable across ectors and the levels of risk and opportunities for each sub sector and product is variable in nature. The retail food industry is highly dynamic in nature and over the years, competition has increased and customer turnover has increased thereby reducing profit margins. The key to success in the sector is to understand the market structure well and selectively target the growth opportunities for profit by understanding the key criteria for growth and developing a framework for segmentation based on the companys strengths. The company has to evaluate the market segmentation process and understand the customer needs to form a strategy riven approach for profitable growth. There exist barriers for segmentation as firms lack an understanding of relevant literature for segmentation, the understanding of segmentation criteria, insufficient data and lack of understanding of criteria guided segmentation as a strategic tool. The same issues exists with the organisation, hence the project aims at bridging the gap between the real industry and academic framework for execution of segmentation. Knowledge of competitors and market is not sufficient to form basis of strategy. The company needs precise criteria and parameters for segmentation to arrive at a trategy. Apparently, the company has an issue about creating a framework that helps selective targeting customers and which incorporates key parameters like risk firms overall issues, the report aims to conduct in depth analysis and research into the frozen food market in the UK and perform criteria guided segmentation for the market which could be used as a basis of recommendation for the company. The centre of the research would be a focus on markets, growth opportunities, and financial criteria for the segmentation implementation, new market opportunities and thorough review of relevant literature. Aims and Objectives of the Project: Based on the discussions about the companys issues, the overall aim of the project is to analyse the I-JK Frozen food market by undertaking customer segmentation of the market covering Wholesale, Cash Carry, Symbol groups, Forecourts, CTN, Independent supermarkets to understand the structure of the market and to explore growth strategies within the frozen food market. The objectives of the business project can be subdivided as follows: . Understand market segmentation approach and relevant academic literature to adequately select criteria for segmentation, the elevant framework adopted by academia and its relevance in the industry, analyse the barriers for implementation of the framework and possible ways to overcome the barriers. . Get an overall understanding of the I-JK frozen food market, its growth, market structure.. To understand the various products within the frozen food segment and analyse the growth trends in various products.. Undertake customer segmentation for wholesale, Cash Carry, Symbol Groups, CTN, Independent supermarkets.. Select criteria for segmentation of the companies and the market to filter the target for growth opportunities.. Create a list of targets segments and products for the company based on analysis.. Identify companys current position, its strengths and weakness within different segments and provide guidance for business growth.. Give recommendations with a prioritized list of targets and strategies for growth. The business project is organized into three main sections. In the first section, we undertake literature review on market segmentation and the relevant criteria for segmentation, understanding this, we try to propose a framework for implementation of segmentation for the frozen food industry. In viewing the literature, we generate a esearch question and recommend a suitable methodology for the research. This is followed by a section wherein we understand the market, carry out segmentation based on various criteria, undertake analysis on the prospective growth opportunities, analyse the companys strategic objectives, market gaps, and current market position to arrive at a set of recommendations for the company. The final section draws conclusion for the dissertation and critically reflects the analysis and findings. A critical discussion covering the entire research, the possible barriers to research and future developments is done in the section. The Academic literature for the research could be segregated into four main categories, the literature is divided into four main parts for purpose of relevance and clarity on the literature review and have a greater understanding on the segmentation process and its relevance to the industry. The literature could be categorised as follows: 1 . Articles defining segmentation and explaining the logic of segmentation and the importance to the industry. 2. Articles that review the segmentation- targeting framework, understand various segmentation variables and help in understanding the segmentation parameters to understand any industry. Articles that review the segmentation criteria to help and understand the targeting criteria for the industry and understand various segmentation attractiveness criteria for the industry. 4. Articles that review strategic tools for portfolio analysis to have a basis for effective targeting strategy. Market Segmentation: The first set of literature review c onsists of articles covering the definition of market segmentation, the benefits of market segmentation to the industry and the logic or rationale behind conducting market segmentation. Main research and literature review related to this section is conducted by Green et. l (1988); Jobber (1998); Dibb (1998); Ferrell et. al, (2002); Brassington and Pettitt (2000);McDonald and Dunbar (2004); Lancaster and Reynolds (2005); Kotler and Keller (2006). Definition of Market Segmentation: The identification of individuals or organisations with similar characteristics that have significant implications for the determination of marketing strategy Cobber, 1998,p. 171). Segmentation involves consideration of consumer preferences and buying behaviour which needs to be analysed strategically and cannot be served by mass selling and branding approach Segmentation is an important and strategic tool or an organisation in identifying potential market gaps and helps to direct strategies at selected market segments (Dibb,1998). McDonalds defines market segmentation as Market segmentation is the process of splitting customers, or potential customers, in a market into different groups or segments (McDonald and Dunbar, 2004, pp. 34). A similar definition is given by Green et. l (1988) which says that Market segmentation is the act of dividing a market into distinct group of buyers who might require separate products and/or marketing programs directed towards them (Green et. al, 1988, pp. 672). Another definition by Lancaster and Reynolds (2005) defines market segmentation as The process of breaking down the total market for a product or service into distinct s ub-groups or segments, where each segment may conceivably represent a distinct target market to be targeted with a distinctive marketing mix (Lancaster and Reynolds, 2005, pp. 4). Most of the definitions of segmentation converge into similar concept of breaking down a market as per various parameters and segments to achieve a target strategy for the market. However, looking into the definition of segmentation, we now look into the rationale ehind conducting market segmentation as given by academics and practitioners, literature and sources. Segmentation Logic: Given the complexities of the current businesses, targeting the entire market at once without segmentation would involve loads of risks and higher costs. Markets are not uniform across the businesses; effective segmentation would mean lower operation costs and higher market coverage (Ferrell et. al, 2002). A similar view is echoed by Brassington and Pettitt (2000) wherein the authors use the concept of an orange to explain the logic of segmentation. The orange as an analogy to explain segmentation xplains that an orange when peeled is very convenient to eat rather than having a whole orange without peeling. In a strategic sense, the authors essentially mean that segmentation of market would enhance profitability, growth thereby reducing risks and efforts (Brassington and Pettitt, 2000). Jobber (1998) further strengthens the logical argument by saying that The objective is to identify groups of customers with similar requirements so that they can be served effectively while being of a sufficient size for the product or service to be supplied effectively Cobber, 1998, pp. 71). Market segmentation is a business sensible method of serving customers as per the group and the set criteria laid for segmentation. Kotler and Keller further strengthen the segmentation logic by describing segmentation approach as a Rifle approach wherein efforts are focussed and aimed at a particular segment of customers for higher efficient and success. (Kotler and Keller, 2006). Lancaster and Reynolds (2005) give similar views on segmentation logic, the authors correlate segmentation with improved competitiveness in the complex markets and point that segmentation pproach comes out from increased competition in the markets, varied demand patterns, and complex operations of organisations. Detailed Segmentation of target markets would strengthen the targeting strategies (Lancaster and Reynolds, 2005). A step further, McDonald and Dunbar (2005) in their extensive work on market segmentation link segmentation process to corporate function. The success of an organisation is strongly linked to proper market definition, market segmentation and selective targeting of customers. Segmentation of markets would lead to definite identification of customers which are central to an organisations success. McDonalds ork and ideas on segmentation strongly identify with the ideas of other prominent marketers and academics, all the definition and ideas point to perhaps common understanding of the logic of segmentation, the summary of the benefits of segmentation to an organisation is as follows: 1 . Segmentation enables targeted marketing, thereby the gaps in the market are analysed and opportunities for growth are understood. Hence, the market with the highest potential is identified which would help the company to focus on marketing efforts (Lancaster and Reynolds, 2005). 2. Segmentation aids Niche marketing strategy wherein the organization can chieve segment domination and market control over a definite market. Segmentation enables an organization to gain competitive advantage by enabling it to understand the market in a better way and focus on segments wherein the strength of the organization is greater (McDonald and Dunbar, 2005). . Segmentation of market makes the organization more cost effective, focused, and The process of market segmentation and targeting involves a thorough understanding of consumer characteristics with respect to consumption pattern, demographics, geography, socio economic variables and other variables. Once, the haracteristics are understood, customers are clustered into segments based on similar characteristics. The target market is then Judged based on various segment attrac tiveness criteria Cobber, 1998). The segmentation process has been described by various academics and practioners as a three step process, wherein the steps are essentially segmenting-targeting-positioning (STP) (Dibb, 1999; Lancaster and Reynolds, 2005; Kotler and Keller ,2006; Patrick De Pelsmacker et al, 2007;). In reviewing the literature on segmentation and targeting, we arrive at the following logical sequence of segmentation: 1 . Segmenting: The stage of identification of relevant segments using segmentation variables and clustering the variables into relevant segments. . Targeting: The stage involves appraising market segments based on factors like growth rate, future growth, extent of competition, overall market size, customer preferences, etc. The targeting should be based on segmentation criteria available in the literature. Segmentation Variables: Segmentation variables are able to split the market into smaller sub sections wherein common characteristics of the sub groups are taken into account (Dibb et al, 1997). There are a number of segmentation variables suggested by various academics and practitioners; a detailed review of the variables is given in this section. The section consists of articles contributed by Lancaster and Reynolds, (2005), Dibb et al, (1997), Randall, (1993), Kotler and Keller, (2006), Jobber, (1998), Richard Wilson et al, (1996), Mitchell S (1995), Patrick De Pelsmacker et al, (2007). Demographic Segmentation: The segmentation includes a variety of bases like age, sex, family life cycle, occupation, education (Lancaster and Reynolds, 2005). An interesting aspect of family life cycle egmentation is the idea of consumer life cycle and phases wherein purchase patterns are considered before segmentation, thereby giving varied details of product consumption and buyer habits (Dibb et al, 1994). The demographic segmentation can be much more complicated by the addition of variables like family size, social class, education and thereby linking all the variables together to identify market patterns (Randell, 1993). Demographic segmentation is efficient and gives insights into the market and is highly preferred means of segmentation (Kotler and Keller, 2006). Similar views are given by Lancaster and Reynolds (2005). Geographic Segmentation: This form of segmentation acknowledges geographic location variations in consumption patterns Cobber, 1998). Geographic segmentation could be achieved by regional breakdown of patterns which could incorporate factors like urban locations, climatic conditions, country wide distribution. Mintel has done several segmentation based on geographic variables like location, in the frozen food segment, Mintel has performed geographic segmentation of various distributors, consumption patterns. Socio Economic Segmentation: Segmentation has also been (Richard Wilson et al, 1996). Geo demographic Segmentation: This approach has been idely used by academics as well as industries. Various geographical and demographic variables are combined to reach at the segmentation stage. Geo demographic segmentation has been acknowledged and proposed by academics in their literature. Some of the references to geo demographic segmentation is in the literature proposed by Jobber (1998), Kotler and Keller (2006), Dibb et al (1994). Mitchell S (1995) describes the process of segmentation as a clustering approach wherein clusters of people and markets are segmented together as to incorporate common variables like product preferences, background, location, etc. Behavioural Segmentation: The behavioural segmentation approach incorporates variables like usage rate, user status, benefits expected, occasional buying, customer loyalty. The segmentation approach takes into account the consumer behaviour and preferences, perception towards a brand. Hence analysis of the buying behaviour would be able to segment the market as per consumer choices and preferences (Patrick De Pelsmacker et al, 2007). Similar views are expressed by Kotler and Keller (2006), Cannon (1992) wherein the authors propose the segmentation approach for a varied range of markets and segments. Segmentation Criteria: In the academic context, there has to be definite criteria for segment to be attractive. The overall attractiveness criteria for a segment to be attractive are Measurability, substantiable, accessibility, differentiable, actionable (Kotler and Keller, 2006). The size and characteristics of a segment form the basis of measurement criteria for the segment. In addition, for segments to be useful, the segments should be substantial enough to be profitable and logical to serve. The criteria should be a basis of action for the segmentation to be attractive (Patrick De Pelsmacker, 2007). Reasonably imilar views are expressed by Richard Wilson et al (1996) wherein the authors state that measurability and substantiable are key criteria for segmentation to be useful. In addition, the authors also state that the condition of stability should be met in order to forecast future growth in advance with sufficient accuracy (Richard Wilson et al, 1996). The conditions for targeting strategies mentioned in the review above are very broad to reach any logical criteria for attractiveness to appraise market segments. A further review of academic literature is essential to arrive at the attractiveness of segmentation criteria. To arrive at definite criteria for the frozen food industry, we would review literature based on the following sources of information: 1. Academic Literature 2. Industry Literature Academic literature: Academic literature lays emphasis on market attractiveness and company competitiveness as a basis for targeting criteria Oobber,1998; Richard Wilson et al, 1996; Patrick De Pelsmacker et al 2007; Lancaster and Reynolds, 2005; Bonomo and Shapiro, 1984; McDonald and Dunbar, 2004; Doyle, 2000). Various academics put a close review of the criteria. Jobber (1998) emphasis on market factors to assess arket attractiveness. Some of the market factors are Segment Size, Segment growth rates, Price sensitivity, bargaining power of suppliers, bargaining power of buyers, barriers for market entry, barriers for exit, threat of new entrants, nature of competition, social trends, political issues competitive differentiation00bber, 1998, pp. 188-189). These factors play a strong role in assessing overall market attractiveness of any segment. An analysis of the above factors would put the research in a strong position to understand the nature of market attractiveness criteria for various segments and the organisation. Further to this, Jobber (1998) also stresses the importance of a firms capability, wherein the author mentions Against the market attractiveness factors must be placed on the firms capability to serve the market segment Cobber, 1998, pp. 189). Firms capability could be assessed using our own analysis of a firms cost advantages, capabilities, other tangible factors. Richard Wilson et. al (1996) review market attractiveness criteria based on factors like the size of the segment, growth potential, profitability to be viewed against the backdrop of a firms individual capabilities. Patrick De Pelsmacker et al (2007) lays strong importance to attractiveness criteria in his work. The author proposes a methodology for selection of attractive target group, the methodology could be summarised in his own words as To evaluate segments companies have to look at four elements: size and growth of segments, structural attractiveness of a segment, objectives and budget of a company, and stability of market segments (Patrick De Pelsmacker et al, 2007, pp. 133). The author lays stress on financial turnover, profit potential and growth prospects of segments as important conditions for appraisal of market attractiveness. Further to it, the academic lays stress on the fact that structural attractiveness could be evaluated using Porters five forces framework. Lancaster and Reynolds (2005) propose a framework to appraise each segment based on factors like sales growth and profit potential, segment size, nature of competition. The decision to target any segment should be matched against in house company resources and company objectives. The framework is similar to the one described by Jobber (1998), Richard Wilson et al (1996) and Patrick De Pelsmacker et al (2007). A slight variation exists in a ramework proposed by Bonomo and Shapiro (1984), the researchers view market attractiveness as a function of segment profits wherein the profit generated by segments forms a key criteria for Judging overall segment attractiveness, but the profits generated on each segment are analysed in depth by the framework which aims to calculate returns on total investments, overall segment margin and contribution by each segment. The profitability analysis is then linked to organisational objectives and capabilities. However, most of the parameters specified by researchers are incorporated into frameworks developed in the 1990s by other cademics. An extension of the earlier frameworks, the market attractiveness criteria developed by Abratt (1993) includes factors like overall market size, growth potential, and nature of competition which are to be mapped against organisational capabilities like resource strengths and strategic intent of the organisation. Further to the segmentation criteria, A framework put forth by Doyle (2000) gives segmentation criteria to assess market attractiveness wherein overall market size, organisational capabilities. The framework proposed by Hooley and Saunders (1993) ivides the factors for market attractiveness criteria into Market factors, Competitive factors, Economical factors and Environmental factors. The market factors and economic factors are similar to those proposed by Jobbers (1998), MacDonald and Dunbar (2004) which are viewed in the next part of the literature review. However, the research puts socio-economic factors as environmental factors, but the factors are similar to other research. A concrete piece of segmentation attractiveness criteria is proposed by McDonald and Dunbar (2004), wherein the academics put forward a definite number of factors o be used to assess market attractiveness. The factors are distributed into segment factors, financial factors, technological factors, socio-political factors and competition factors. The list of factors could be summarised as follows: . Segment factors: Size, growth rate, price sensitivity, cyclicality, season ability, bargaining power of suppliers.. Financial factors: Contribution margin, barriers to entry and exit, economics of scale, capacity utilization.. Technological factors: Complexities, patents, technological usage.. Socio-political factors: Social trends, human behavioural factors, legal frameworks.. Competition Factors: Nature of competition, threat to entry and exits, threat of substitution. Source: McDonald and Dunbar (2004) Analyzing the literature for segmentation criteria, it could be observed that very similar frameworks are proposed by Hooley and Saunders (1993), Jobber (1998) followed by MacDonald and Dunbar (2004). The market segmentation criteria proposed by most of the academics are similar in nature, in essence the academics try to evaluate the market attractiveness of the segments and Judge it against organisational capabilities. The literature review carried out so far suggests that most f the academics tend to converge on similar views and factors for segmentation. The next section tries to review the segmentation process carried out in the food industry. Literature Review on segmentation in the food industry: Market segmentation in the frozen food industry has not been carried out by any researcher so far, however, a few literature points to segmentation in the food industry. Consumer demographics and behaviour formed as a basis for segmentation to help marketing and promoting eggs (Funk and Phillips, 1990). A review of literature on food segmentation carried out by Asp (1992) highlights emographic segmentation approach for segmentation of food products developed by Pillsbury company. However, very limited research into food segmentation has been done so far, specially for the frozen food industry. The limited literature available for the food industry nevertheless points to the fact that geo demographic segmentation is considerably used for segmentation in the food industry.

Tata Nano Case Analysis Essay Example

Tata Nano Case Analysis Essay Introduction: The Tata group is one of the largest automobile companies in India and ranks sixth in the commercial vehicle manufacturing in the world. It is a leader in the commercial as well as the passenger vehicle segment. The top three passenger vehicles are sports utility vehicle, mid-size car and mini-truck. In May 2008, the Tata group acquired Ford Motor’s British based automotive icons Jaguar and Land Rover. Lack of safer, comfortable and spacious means of transportation and poor quality of mass transport is a common concern in India. Decision Problem: The Tata group come up with a unique concept â€Å"Tata Nano: the People’s car† to be built within USD2500 (Rs1 lakh), an affordable, safer, comfortable and spacious alternative to the middle class families and students. The chances of Tata Motors squeezing a drop of profit out of a $2,500 Nano is highly unlikely with the Nanos long promised price staying the same and rising cost for raw materials. Choosing a single culprit for this is impossible, since escalating material costs have raised the price of everything from corn flakes to crude oil. Focusing only on the Nanos steel exterior, its clear how difficult it will be for Tata to stick to that $2,500 price for long. Tata has faced controversies over developing the Nano as some environmentalists are concerned that the launch of such a low-priced car could lead to mass motorization in India with adverse effects on pollution and global warming. Protests over the land acquisition led Tata Motors to shift its manufacturing plant to Gujarat. We will write a custom essay sample on Tata Nano Case Analysis specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Tata Nano Case Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Tata Nano Case Analysis specifically for you FOR ONLY $16.38 $13.9/page Hire Writer While currently the political tensions have subsided, there is no guarantee that in future land acquisition row would not lead to another full fledged political war. Decisions Alternatives: Innovative Marketing: Tata will sell its ultra cheap new car through its own retail outlets as well as auto dealerships. The Nanos overall marketing strategy will use conventional media in an unconventional manner. Innovative Technology: With the shift to smaller cars for emerging markets, carmakers must develop new technologies and new business models to meet the demands of these markets. Small cars must be lighter and more fuel-efficient, so manufacturers are turning to such technologies as alternate power trains, fuels, propulsion systems, and braking systems, as well as materials not typically used in cars, including plastics for exterior body components such as doors, and strong, lightweight alloys and composite materials for structures. It brings to market a totally different value proposition than the one available and can change the paradigm of a product. Cost Reduction: Use of alternate materials and reduced consumption of material being used were primary considerations to minimize the cost of production. Alternate Suppliers to get same material at fewer prices as well as establishment of suppliers near the manufacturing facility were key strategies adopted by Tata Group. This helped in reducing the delays in the supply chain and setting up dedicated vendors to supply the raw materials to the Nano plant. Industry Analysis: India is well-known for its massive transportation system. As Indias transport network is developing at a fast pace, Indian Automobile Industry is growing too and therefore, providing employment to a large section of the population. Thus the role of Automobile Industry is very essential in Indian economy. Various types of vehicles are manufactured by the Automobile Industry. Indian Automobile Industry includes the manufacturing of trucks, buses, passenger cars, defense vehicles, two wheelers, etc. The industry can be broadly segmented into the car manufacturing, two wheeler manufacturing and heavy vehicle manufacturing units. The major Car manufacturer are Hindustan Motors, Maruti Udyog, Fiat India Private Ltd. , Ford India Ltd. , General Motors India Pvt. Ltd. Honda Siel Cars India Ltd. Hyundai Motors India Ltd. , Skoda India Private Ltd. , Toyota Kirloskar Motor Ltd. The two-wheeler manufacturing is dominated by companies like TVS, Honda Motorcycle Scooter India (Pvt. ) Ltd. , Hero Honda, Yamaha, Bajaj, etc. The heavy motors like buses, trucks, defense vehicles, auto rickshaws and other multi-utility vehicles are manufactured by Tata-Telco, Ashok Leyland, Eicher Motors, Bajaj, Mahindra and Mahindra, etc. Indi a`s giant automotive manufacturer company TATA MOTORS has largest share in commercial vehicle in India. It has also positioned itself in the international market after acquiring Jaguar and Land rover and exporting their key products in the international market. The future of Indian Automobile market is bright as it looks forward to manufacturing and implementing new innovations. Political factors: The liberalization of the automobile industry in 1990s encouraged foreign investors and Indian companies to enter into joint ventures. India became the largest and fastest growing car markets in the world in 2005-06 and it was reported that the passenger car market grew by 25% per year and the passenger vehicle exports grew by 12. % annually. India has a well established regulatory framework under the Ministry of Shipping, Road Transport and Highways in which SIAM (Society of Indian Automobile Manufacturers) plays a very important role. All the stake holders are part of the regulation formulation setup. The Indian Auto Industry is implementing both Safety Emission regulations in compliance w ith International Standards for sustained growth of the auto industry for combating the environment concerns and become a global export hub. Economical factors: There is a massive transportation system in India for the public which helps the economy to the large scale. The new development of road system is contributing a lot towards the transportation system of the country. Better and wider roads built with the long lasting material are helping the economy of the country as less expense will occur. With the better transportation system the material is moved to different places with a greater ease and in short time, in turn, helps in increasing the GDP as more products can be made in same time. The per capita income of India is increasing due to which the buying power of the consumers has also increased making people buy cars and bikes. The banking system in India provides people with easier and cheaper finance schemes which help the consumers to buy vehicles easily. Social factors: The Automotive Research Association of India has been playing a crucial role in assuring safe, less polluting and more efficient vehicles. New measures are being taken to make the automobiles less polluting. Reducing pollution helps creating a better and healthy environment for the society. Technical factors: The Indian auto Industry is working with the authorities to facilitate for introduction of the alternative fuels. The latest technology is being adopted by the companies and is being launched in India as well. A lot of new safety measures are now taken into consideration before the car or any other motor vehicle is launched to ensure its safety and reliability. The impact of the severe downturn in the automobile industry during the year 2009 was observed in the fall of major players like GM, Chrysler and Ford. On other the side, the small car segment has seen substantial growth and a rise in demand. The majority of growth in the global automobile industry in the coming decade is expected to be from emerging economies such as India, China and Eastern Europe. Significant growth of auto market in these countries will be attributed to the fast growing small car segment. The small-car revolution is taking place within the context of the very different needs and desires of the new consumer in emerging markets. The low-cost cars are typically their first choice to be driven around the town, but not for long distance trips. Company Analysis: Strengths Brand name TATA: Tata Motors is the only company in India with a broad based presence across the industry, in all segments of the commercial vehicles market – heavy and medium commercial vehicles, light commercial vehicles, pick-ups, mini-trucks and key segments compact, midsize car and utility vehicle segments of the passenger vehicles market. Unique Understanding of customer needs: Going forward, Tata Motors had anticipated that non-car owning families, at the bottom of the pyramid, will look for an extremely affordable vehicle. Nano is an excellent option to meet the needs of low-income group. Environmental Concerns: High oil prices and concern for environment are critical factors in success of small car industry. High fuel and commodities prices are expected to be around for the foreseeable future, and the prices will only make cars more expensive to build and to run, thus reinforcing the desire to keep cars small. Concerns about the environment and global warming are also promoting the trend toward fuel efficient smaller cars not just in the developing world, but everywhere. Access to distribution channels: When a new product is ready to be launched, a well developed distribution is must for its success. The TATA motors had an advantage of well established distribution channel across the world Weakness Low power: The low-cost cars are typically their first choice to be driven around the town, but not for long distance trips. Not a status symbol: Small cars are still seen as an entry level option as it offers limited features. The small car segment doesn’t find many takers in the developed world where people still prefer luxury and safety over anything else. Delay in manufacturing: Due to political issues, the manufacturing plant was shifted to Gujarat. The political conflict and opposition from local community caused a major delay in the establishment of the production facility for the Tata Nano. Opportunities Large market for selling: It will be commercialized all over India. It is mostly targeted to the middle class and lower middle class people. First car in low range: NANO enjoys the monopoly are there are no competitors in this segment. Potential in global market: The success of Nano would lead to decreased demand of products from developed countries as there is a greater emphasis on fuel efficient vehicles and traffic congestion globally. Once the companies from developed countries experience restricted growth in developing countries, the demand for oil-guzzling cars from developed countries is sure to decline. Nano is expected to cut sales of bigger car companies in India and other developing markets. Nano possess a great potential to become the master of roads in the developing countries. Threats Company rival: NANO is the only player so it has the price freedom but as the Maruti and Honda are also planning to launch the car in the same segment the price competition will start. Concerns over traffic congestion: A larger number of cars will adversely impact the environment due to emissions. Analysis of Alternatives: Branding identify the maker of a product and allows consumer to assign the responsibility for its performance to a particular manufacturer. The new Tata Nano focuses on not only one segment of Indian population which has an access to the other automobiles, but also to a greater percentage of population who can overstretch a bit from buying a new two-wheeler or a used small car to getting a brand new vehicle in the form of the â€Å"People’s Car†. The branding strategy in Nano’s case is corporate name combined with individual product name. Ever since it was conceptualized, anyone and everyone in the automobile industry had commented that the Tata dream of a People’s Car was just a figment of imagination and making a car at this low a price without compromising on quality is not possible. This very fact makes the Nano special. It is a brand that defines the dream, coupled with the hard work, dedication and determination of a team who believed in and worked for converting this vision into reality. The introduction of Tata Nano received media attention due to its targeted price. Tata adapted a strong communication strategy to get the word out to the public through media, trade shows, auto shows, internet buzz and pre-launching of the Nano. The demand of any product is mainly driven by two main factors: the price of the product and income of the buyer. Target Markets: †¢ Two-wheelers people: those people who are working professionals or college students but cannot afford to buy a three lakh car. †¢ Second hand car user: those people who cannot afford to buy new car but would be able to buy new car cheaper than used car. Auto rickshaw/Three-wheeler: Most of the auto rickshaw costs almost the same price as Nano. †¢ Middle and lower income class: these are the people that are growing and are also becoming a little richer which is making them afford a car. The buyers in this segment are generally first time buyers and their main considerations are low cost and fuel ef ficiency The real price of the vehicle is the capital cost plus the running cost (fuel, insurance, service and maintenance). Lower purchase price and running cost of Tata’s Nano would appeal to mass markets. The introduction of Tata Nano would elevate the number of households that could afford a car by 65%. Tata will be creating a whole new segment and in turn, getting the first mover advantage. It is also assumed that lesser the fuel consumed by the car, the more number of Nano will be purchased by the people. For most of the products, as the income goes up, the demand goes up. As the income increases, the household moves the ladder up graduating from bicycle to two or three-wheeler and two-wheelers to motorcars. In addition, if the price were to decrease, the demands get a further fillip. It has been assumed that the low price of Nano will galvanize the demand. The strength of income elasticity outweighs the price elasticity for an expensive product. Vehicles also fall under this category. It is the growing income that strongly impacts the demand than the lower price. India’s two-wheeler market was listed second largest globally in 2007 and the demand is expected to be 18 million units by 2011. Among the two-wheeler segment, the motorcycles, scooters and mopeds have major share in the market. Three-wheelers also dominate the market for carrying passenger and cargo loads. The majority of the two-wheeler and three-wheeler owners does not own a car and belong to the lower or middle income groups. With fast growing middle class, it has been projected that there will be increase in demand for lowest end car. The Tata Nano group is targeting the two-and three-wheeler middle-income groups, college students and used car buyers. In the absence of strong competition, Maruti Udyog ltd. has dominated the Indian automobile market since 1980s. The competition in India’s automobile history had been heating up in the recent years. As the automobile sector rapidly evolved through deregulation and open markets, many foreign companies already set up their presence in India through tie-ups with local manufacturers and some have done entirely at their own. Since then, there has been an emergence of new competition of higher value segments of passenger car market. For the four wheeler segment, Maruti Udyog dominates the automobile industry holding 52. 2% share of the passenger car market, followed by Hyundai with 19. 2% and Tata Motors with 16. 6%. For two wheeler segments, it remains quite a local dominant game but some global players also have presence in the market. Major players in this segment include Bajaj Auto, Hero Honda, TVS Motors, Yamaha and Kinetic. The two-wheeler with its low price and lower running cost would continue to be an option for biker and lower income segment. Nano would position itself as the cheapest car against its major competitors, Maruti Udyog and Hyunda Motors India Ltd. without compromising quality, safety and emission standards. Since the car has to be built within a cost of USD2500 (Rs1 lakh), no conventional design would work. There is a lot innovation in that is required in the design and manufacturing process which will help in reducing the costs. There is stiff opposition from the environmental groups. This is because of the fear that a larger number of cars will adversely impact the environment due to emissions. The company designed the car from scratch to offer customers a low cost small car, meeting regulatory requirements and achieve performance targets such as fuel efficiency. Nano has been designed with a family in mind. It would serve as roomy compartment for a family of four. Nano’s safety and emission standards exceed current regulatory requirements. Tata is taking advantage of its well established dealerships and changing the manufacturing and distribution channels. A distributed manufacturing system would refer to central control system. The entire manufacturing system would be connected by networks for communication and monitoring. The manufacturing of small cars generally happens in labour intensive countries as this helps the manufacturers in reducing the costs and passing the benefits to the customers. Developing countries like India and China are thus the hubs of small car manufacturing. According to Ratan Tata (Chairman of the Tata Group), the car components could be built at different locations and then shipped as â€Å"car kits† to local manufacturers for assembly. The automaker would oversee the quality and reliability of the assembly operations, taking full responsibility of product liability. Using this strategy, Tata expects to meet the consumer demand as the market grows. Tata is implementing a hub and spoke model for Nano’s distribution. The unique distribution would increase dealership points as well as add sales and customer touch points. In terms of manufacturing strategy, the possibility of Nano final assembly being done at local dealers would be a breakthrough. The cost structure is basically the cost required for the manufacturing of the product includes the cost of raw materials and the inputs. Nano has the smallest exterior footprint with a length of 3. 1 meters and width of 1. 5 meters but is 21% more spacious than Maruti 800, the world’s smallest car. Nano offers incredibly spacious passenger compartment which can comfortably seat four people. To minimize the cost of production, the alternatives were explored such as reverse auctions, minimizing the cost of luxuries by designing car components to serve multiple functions and long term contracts with over 100 suppliers. Tata Nano was launched aiming the low-income people of India. So, the price has been decided according to the target groups only. The less number of accessories is another reason for the price to be set low as compared to other passenger cars in the market. Tata implemented market-penetration pricing, which is low to set a low price for a new car in order to attract a large number buyers and a large market share. This will be done by achieving the high sales volume, resulting in cost reduction and allowing the company to cut its price even further. Tata is working on the strategy of reducing costs and waste to improve profits by implementing a new style of pricing than the traditional way of pricing of automobiles. More cost reduction means more profit. This means Tata’s will continue to squeeze suppliers. The low price of Nano will help to keep out competition and maintain its low-price position. The economies of scale are the cost advantages that a business obtains due to expansion. There are factors that cause a producer’s average cost per unit to fall as scale is increased. Economies of scale may be utilized by any size firm expanding its scale of operation. The common ones are purchasing (bulk buying of materials through long-term contracts), financial (obtaining lower-interest charges when borrowing from banks and having access to a greater range of financial instruments), and marketing (spreading the cost of advertising over a greater range of output in media markets). Each of these factors reduces the long run average costs of production. Tata is counting on the economies of scale along with careful sourcing of materials to keep prices down. Nano may impact the sales of the other small passenger cars to some extent. As there is price difference between Nano and two wheelers, the two wheelers would continue to be an entry level option. There is a wide scope for Tata Nano because of the upward migration of the living standards and lower price as compared to the other options available in the market. A large segment of the population is emerging from poverty and entering the middle class. Consumption patterns are changing dramatically. The increases in income mean these newly well-off people find themselves able to afford economy cars. Rising income levels of middle class in the developing world and reduction in the ownership cost with less expensive cars such as the Tata Nano will increase the demand of the small car and open up new markets for car manufacturers. Low labour cost in emerging economies is also attracting hordes of manufacturers to their soil. As oil prices rise and concerns about the environment grow, the small car will become the king of the road. This is more evident than in the developing world where increasing prosperity is bringing millions of first-time buyers into the market for new cars. Tata Nano can meet the needs for a second car by families apart from the big sedans for commuting within short distances. Space constraints in most of the major cities in the world make it difficult for owners to manage with a large car. They would rather prefer an easily maneuverable small car. This presents a tremendous opportunity for India, which is growing quickly, building a vast middle class, and gaining experience in building and selling cars. India can take advantage of its experience in this market to become the world leader in the fast-growing small-car segment. Recommendations: Increasing global presence – Nano must show more presence in the developed markets apart from the developing ones since people are becoming more sensitive towards environmental issues and of course they want to spend less on fuel guzzling cars. †¢ Political issues and Land acquisition- More transparency should be there in land acquisitions for building plants. Local people must be taken into confidence before embarking on building plants in the area. †¢ The brand needs more of advertising and promotion which it is currently lacking. The low cost must not compromise on quality. Easy loans must be made available to those who wish to own this car. †¢ New product launches on time, within budget, and focused on the target segment will be critical to the future success of OEMs and suppliers across all segments. Volatile raw material and input costs, especially oil and steel, will continue to have a pervasive impact on the operating profitability of OEMs. Successfully managing supply chain complexity, implementing low-cost country sourcing strategies, and continuous technological innovation will be vital to achieving long-term cost mitigation goals.

Boston University Summer Challenge Should You Go

Boston University Summer Challenge Should You Go SAT / ACT Prep Online Guides and Tips In this guide, I'll be discussing the Boston University Summer Challenge, a summer program for high school students at Boston University.Duringthe program, students take non-credit college-level courses, live on campus, and explore all that BU and Boston have to offer. While you can read aboutthis programon the BU Summer Challenge website, the information available is somewhat spotty and what is there can be difficult to dissect. For this reason, I spoke to the program coordinators and gathered everything you need to know about the program into this easy-to-read guide. I’ve created a Table of Contents so you can find the specific infoyou need, but I suggest reading the entire article in order: What Is the BU Summer Challenge? What Do You Do? Why Should You Attend? How To Apply and Application Requirements How Much Does It Cost? Tips on How to Get In FeaturedImage:ViaWikipedia What Is the Boston University Summer Challenge? What Activities Do Participants Do? The Boston University Summer Challenge is a two-week program for rising high school sophomore, juniors, and seniors that offers a preview of college life.During each of the three summer sessions, between 100 and 300 high school take two non-credit seminars and live on BU’s campus in the dorms. As a participant, you choose a morning seminar and afternoon seminar. In between your morning and afternoon seminars, you have lunch in one of BU's dining halls.After your afternoon seminar and on weekends, youparticipate in organized social activities such as exploring areas of Boston, shopping, seeing improv shows, and more. The exact social programming will vary from year to year. You also have plenty of free time to do your seminar assignments, explore Boston on your own, and explore BU's campus (you'll have free access to the libraries and canpurchase a short-term membership to Boston University's Fitness Recreation Center). In yourseminars, you'll be expected to attend lectures, engage in discussions, attend field trips, and completeindividual work,group work, and project-based assignments. The seminars have small class sizes (10 to 24 students)to ensure that you get sufficient attention from your experienced college instructors as you arechallenged with the college-level material taught in your seminar. Each seminar ends witha final in-class presentation. At the end of the summer (typically, in August/September), a certificate of completion and letters of evaluation from both seminar instructors will be sentto you. Listed below are the seminars that were offered in Summer 2015. (Summer 2016 seminars have not yet been announced.) Morning Seminars Abnormal Psychology Business: From the Ground Up Chemistry of Medicine Creative Writing Electrical Engineering The History of Boston International Politics Journalism Nutrition Visual Arts Afternoon Seminars Abnormal Psychology Business: From the Ground Up Communication Computer Science Economics Infectious Diseases Law Persuasive Writing Philosophy Photography Who’s Eligible for the BU Summer Challenge Program? The basic application requirements for all applicants are: Be a rising high school sophomore, junior, orsenior If you’re an international student, you also must meet the following qualifications: Have a valid passport Have health insurance While these are the only requirements needed to apply, there are more qualifications that will help you get in. Read those below in our Tips on How to Get Insection. What Are the Program Dates for Summer 2016? The programs dates for Summer 2016 are: Session 1: June 19 - July 1, 2016 Session 2: July 10 - July 22, 2016 Session 3: July 24 - August 5, 2016 Why Should You Attend the BU Summer Challenge Program? I’d highly recommend doing the Boston University Summer Challenge if you can afford it and it works in your summer schedule. I participated in a similar program at UCLA, and the program helpedme figure out whether I was interested in attending UCLA (which I found out I wasn’t) and what kind of coursework I wanted to pursue. I’ve broken down the pros and cons of attending the programbelow. Pros of BU Summer Challenge Test out BU to see if it’s the right college for you. Take non-credit college coursesto helpfigure out what you might be interested in majoring in (you could find out you hate art and want to study biology or vice versa). It's better to figure this out in high school rather than halfway through college when you've already spent a lot of time and money on classes you ended up not liking. Receive two letters of evaluation(one from each of your seminar teachers) at the end of the program, which could be used as supplementary letters of recommendation for college. As a residential student for twoweeks, you get to test out living away from home for the first time. My friends and I who did the UCLA summer program struggled a lot less with homesickness once we started college than our peers. Have a college program on your resume for your college applications. While there is no guarantee of admissions and no guarantee that participating will better your chances of admission, the BU admissions office likes to see that you’ve shown a significant interest in the university. Doing this program will show them your interest. Cons of BU Summer Challenge Expensive (I discuss the exact cost below). You can't get college credit while some similar programs such as the Emory Pre-College Program do offer classes for credit. No financial aid available while at some other programs such as the Emory Pre-College Program, there is financial aid available. How To Apply and Application Requirements Applications are accepted on a rolling basis beginning in the January before the summer session.You typically receive aresponse via email within threeweeks of submitting your application. The application deadline for summer 2016 has not yet been posted. It will be posted on the BU Summer Challenge website after December 15th. However, as the website says, students who apply earlier "are more likely to receive the session and seminar selections of their choice," so you should submit your application ASAP. To apply, you must: Pay a $50 non-refundable application fee paid by credit card. Complete an online application that includes a 500 - 750-word personal statement describing why you want to attend the BU Summer Challenge Program. Email a copy of your complete high school transcript, including your fall grades, to summerhs@bu.edu. Additionally, international studentsmust: Complete an international student form. Submit a copy of your passport. If the primary language of instruction at your high school is not English, you will likely be asked to provide proof of proficiency such as a TOEFL score (though this is on a case by case basis). How Much Does BU Summer Challenge Cost? The feefor the BU Summer Challenge includes tuition, housing, and all meals in the dining hall. It also includes textbooks and all sponsored activities during the two-week program.The program cost for the BU Summer Challenge in 2015 was $3730.This may be changing for Summer 2016, but it hasn’t yet been announced.Additionally, as I mentionedearlier, there is a $50 non-refundable application fee (which will stay the same in 2016). Is There Financial Aid? Unfortunately, there is no financial aid available for this program. However, I have some advice for quick ways to raise money if you're hoping to attend but can't afford tuition: Try using an online crowdfunding platform such as Go Ennounce (which is specifically for students looking to fundraise), Go Fund Me, or IndieGoGo. Write lettersto friends, family, employers, local businesses and churches asking for support. Reach out to civic organizations in your area, such as Rotary and Kiwanis, to see if they could offer ascholarship. 3 Tips onFundraising Your BU Summer Challenge Tuition Tip #1: When you write your explanation on the crowdfunding platform, write your letters tothe community, or reach out to civic organizations, make sure you share your personal story and explain why the BU Summer Challenge program is important to you and will help you achieve your future goals. This explanationshould be similar to your personal statement for the program (which, as I said above, asks you to describewhy you want to attend the BU Summer Challenge Program). Tip #2: Share your fundraising campaign on social media and ask your friends and family to share your campaign on their social media if they're unable to donate. Tip #3: Write a thank you note for every donation you receive. Tips on How to GetAccepted If you’re hoping to attend the Boston University Summer Challenge, your high school transcript and personal statement need to show you off in a positive light. While there is no specific GPA required for admission, the program coordinators said they preferred applicants with at least a 3.0 unweighted GPA.To have the best shot of being accepted, you should try to get your unweighted GPA at or above a 3.0.While you may not have a lot of time before applying, there are ways to raise your GPA fast. The BU Summer Challenge Programdoes not tell the public itsacceptancerate, but the program website says they look for "motivated high school students who are taking a college preparatory curriculum. Your high school transcript and personal statement are both taken into account when admission decisions are made." Additionally, I spoke to the program coordinators who indicated that most students with a 3.0 or higher are accepted into the program. For your personal statement, make sure you show off your personality, explain your love for BU, and explain why you want to be a part of the Summer Challenge. If you need help writing the personal statement, read our other great guide with tips on writing a personal statement. What’s Next? Learn about the college application process: How To Do College Research Right: Step-By-Step Guide Complete Strategies: Common App Essay Prompts (2015-16) How to Pay for College: A Complete Guide Want to improve your SAT score by 240 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now: