Cambodia

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Before I started my research on the Cambodian Killing Fields I did not know too much about it. All I knew was that in this small country between Thailand and Vietnam it had been taken over by a communist group and they ruled over everything and everybody. They killed people by the thousands, thus the name the killing fields.

I decided to do this event because I heard about this event awhile ago and I always thought that it was pretty interesting. So when the chance came along to research anything we want, I took the opportunity to research something I am actually interested in, and want to know more about. I knew there was a deeper story to this event other than what I knew, which was that a communist group killed a lot of people in Cambodia. And I was right. This was the first time I have ever done a project where I wanted to find out more and more. My whole life I have always been fascinated by events such as this in third world countries. It is truly amazing of how different those cultures are. Everything about them socially, politically, economically and culturally, are so different than anybody else could ever imagine. So I like to study events like the Cambodian Killing Fields to learn more about the whole world around us. I believe that myself and the people around me should know what is going on in our world and the atrocities other people have dealt with. It is a real eye opener.

This event was negative, but the after affects that everyone else got out of it were positive. Society in itself was hurt by this event, and of course not one person wants that to happen to them. The killing fields did teach society a lesson, it is just really awful that things had to go this far, just to get through to people of what really goes on outside the bubble what they live in. This did hurt so many lives, but something positive has come out of it. We now know better, and are more aware of the world that we live in. Nothing even remotely like it should ever happen again as society has treated this as such a serious and scary event. At least now the majority of the people give a damn, and actually care about others but themselves.

The Cambodian killings have definitely made a mark on a lot of people and has been influential ever since this dreadful even has happened. This significant event affected so many people during the time period of it and it still does today. So many people died and others who did not lived terrible lives, even after the reign of Pol Pot. They were always scarred from what had happened to them and their loved ones. When it happened in the past this type of thing was unheard of, according to the people that live in such countries as United States and Canada. They had no idea such things like this was going on in the world surrounding them. Everyone was so oblivious to this and was in a complete state of shock to hear that Cambodia's government was killing their own people, for no reason. Everybody was horrified by this news, but very few did anything about it. This event was so colossal that people still remember it to this day. The survivors of this have made an impact on the people of today. They have shared their painful stories to millions, which has influenced a lot of people to look outside their home, and their community to help do something for those less fortunate outside their country. I know people will never forget about this horrendous event. Talk of it still goes on today every now and then, and the stories are still spread. The people of Cambodia will be haunted by this past. Even the Cambodian people that were not even born at the time are affected by it since it did happen to either their mother, father, or grandparents. The stories will keep on being told and passed through generations making this even still influential in the future. Once you've heard the stories, and seen the pictures, I am sure you will be impacted too.Write my Essay on cambodia

This incident takes place in Cambodia and is definitely worthy of in-depth research since it was such a momentous event because most people that live in places like the United States or Canada never though anything like that could ever happen. It was such a shock to hear that this sort of thing only happened twenty-eight years ago. This event is so detailed, and the research you could find about this could go on for pages. It is really interesting to learn about, and of how something like that ever happened in the first place. I would suggest to anyone to learn more about this event as it goes to show how lucky we are to live in a country like Canada.

4.c),d)The Cambodian Killing Fields incident is best classified as social, economic, political and cultural, but the biggest category to represent it would be political. After the event the government changed significantly. For four years it was under the reign of Pol Pot. He wanted to keep the society an agrarian society, so anyone who even looked smart was murdered. He did not want his country to modernize, so he took out anything in his way. Even though Pol Pot and his people are long gone today Cambodia still has never recovered. The people are still suffering from what he did twenty-eight years ago. It was and still is very costly to clean up the countryside, so Cambodia still looks to be in the same state the Khmer Rouge left it in. And since Cambodia is a very poor country it will probably stay that way for the next while. Now the government is trying to clean up all aspects of Cambodia that they can, all of which Pol Pot created. The killing fields has had a huge impact on the Cambodians during the time of it, and after. This shocking event however impacted the rest of the people in the world, that had heard about the killing fields in Cambodia. The impact this incident created never had a positive affect on anybody. Except for the fact that it made other people really think and imagine of what other people have to endure, and that since it was such a bad thing that had happened and it did not go over too well anywhere, something like this is bound to never happen again.

4.e) The political surrounding of this time was what the whole Cambodian Killing Fields were about. The communist government took over everything, including the people. They ruthlessly tried to remake Cambodia to what they thought it should be. Led by Pol Pot, they terrorized the towns and villages. Not one person could do anything about it since it was the Government that was causing all of the problems. The people were very angered by this all. They killed who ever they felt like for no reason at all. Finally in 17, there was an invasion by the Vietnamese that out the Khmer Rouge (led by Pol Pot) to an end. But by that time they had already committed on of the century's greatest massacres and had killed between 1.5- million Cambodian people.

Please note that this sample paper on cambodia is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on cambodia, we are here to assist you. Your persuasive essay on cambodia will be written from scratch, so you do not have to worry about its originality.

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Illness and Death of a Parent

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REVIEW OF LITERATURE

Background Characteristics

In the United States, more then million children and adolescents (.4%) younger than 18 years, have experienced death of a parent (Christ & Siegel, 0016). In Conneticut alone 8,000 children under the age of 18 have experienced death of a parent (Emswiler & Emswiler, 0005). Raveis, Siegel, and Karus (188) discovered that background characteristics of a child, the deceased parent, and family may affect the outcome of the child's grief (Raveis, Siegel, Karus, 18167). The age and gender of the child also plays a major role in the outcome of the child's grief. Younger children, under the age of five, and early adolescence, in particular, are vulnerable to poor adjustment to parental death.

According to Donna Schuurman (00) the age of the child and corresponding developmental abilities influence their understanding, memory, and their ability to cope with the death of a parent. From, birth to two years of age, known as the sensorimotor period, If the parent died at birth, or short after, there is one less "not you" to assist in building patterns and trust. The child intuitively and instinctually senses absence of another (having spent months attached to her) and in changes of those around you. This causes and interruption in the ability to trust. To generate or regain trust depends on what happens next to your family and world. From, age two to five or six years of age, known as the preoperational period, primary tasks were developing independence and initiative. When parent's death occurs it is as if "you just began to walk and the rug was pulled out from under you"(Schuurman, 007). The child may slip back to younger behaviors, such as baby talk, wetting the bed, clinging to people, crying more frequently and insisting on their own way. From age six to eleven or twelve years of age, known as the concrete operational period, most children understand death as final. Often, they also retain belief that in some way their actions, or failure to act, may have contributed to the death. During the "raging adolescence period", also known as formal operational, children begin to have more advance reasoning. They need to find and make meaning of their parent's death. Due to the loss of parent, they may have been forced to "grow up". Due to this, they may have experienced added pressures and responsibilities, as well as financial concerns or questions about the future. If the child had a conflicted relationship with the deceased parent, he/she may have carried additional guilt and unresolved issues. During each phase of life, reprocess of loss happens. The child/children must confront reality of having no parent in life while coping with new challenges, such as; friends, dating, career choices, etc (Schuurman, 007).

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According to Willis (00) understanding grief and death begins at around or 4 years of age. She distinguishes between three periods in a child's understanding of death. Between and 5 the child understands that her parent has moved and is living somewhere else. Between the ages of 5 and , the child believes that death may have been avoided entirely. Finally, between the ages of and 10, the child reaches and understands that death is permanent, inevitable, and affects all living things. The four components of children's understanding of death, such as the irreversibility factor, the finality, the inevitability, and causality all relate directly to the child's developmental level at the time of death (Willis, 00).

Some claim that girls are more vulnerable to adverse consequences, and boys have a more problematic adjustment. Others report that they believe that there is no gender difference. These inconsistent findings may be explained through investigations that have documented factors such as child's gender and deceased parent's gender. They may operate in conjunction with one another to show children at increased risk, that is, gender match of bereaved child with deceased parent for young girls, under age 11, and adolescent boys. Some other less examined background characteristics are birth order, family size, presence of siblings, and age of siblings (Raveis, Siegel, Karus, 18167).

Some of the gender differences sited in "Guiding your child through Grief" (Emswiler & Emswiler 000) are as follows boys tend to talk less and act out more, they express grief as anger and aggression. In addition, they are more prone to having concentration and learning problems in the first year after their parent's death. Girls, on the other hand, tend to talk and cry more. They show more anxiety and are concerned about their own safety and health, and that of their surviving parent. Girls may also exhibit more physical complaints and they have more frequent disagreements with other surviving family members. They tend to remain more attached to the parent who died and tend to idealize that parent more. They certainly are more likely to hold onto items that connect them to loved ones (Emswiler & Emswiler, 00050)

In "Explaining death to children", it is claimed that if a boy loses his mother he may regress to an earlier stage of development. His speech may become more babyish, he may begin to suck his thumb, whine, and demand a great deal of attention. Later in life, he may believe that all women have a tendency to hurt men, because he was "injured" by his mother. He may avoid being hurt by leaving them before they can hurt him. A mother substitute, such as a housekeeper, aunt, or older sister may be important in supporting the child and removing these later tendencies. By the same token, a small boy who loses his father may need another male figure as a substitute (Ames et al, 16716).

Factors Associated with Parent's Death

The specific cause of parental death may be an important factor in predicting the outcome of bereaved children. For example, children whose parents who died from cancer showed symptoms of depression and such psychological problems involving anxiety, behavioral problems, decreased social competence, and lower self confidence. On the other hand, children who experienced sudden or violent forms of parental death, including parental suicide showed not only symptoms of depression, but also severe anxiety and intrusive thoughts within the first year after parental death (Pfeffer et al, 0001). (Another factor that has been found to affect a child's adjustment to the loss of a parent relates to the circumstances around death.) When sudden and unexpected death occurs, there is no time to prepare the child and therefore this could result in subsequent adjustment being problematic. The length of illness, advance knowledge of near death, or degree that a child was aware of that the parent would die, may affect the child's adjustment in the postdeath period. Other factors that may affect a child in the predeath period are stress of fatal illness and changes made due to it, such as, alterations in lifestyle, absence or withdrawal of ill parent from family functions, and household economic changes. These stresses and changes can then continue into the immediate postdeath period. Even sudden or unexpected death to a child, that had had a change or loss in the predeath period, is more likely to exhibit adjustment difficulties. Circumstances where a child was prepared for the funeral, if the child was involved in it, or was allowed to see their parent's body, also affects the child's postdeath adjustment (Raveis, Siegel, Karus, 18167).

Pfeffer et al. (00) compared the depressive symptoms, social competence, and behavior problems of prepubescent children bereaved within 18 months of parental death from suicide, and whose parents died from cancer. They found that children whose parents died as a result of suicide, reported significantly more depressive symptoms than children whose parents who died from cancer, such as negative moods, interpersonal problems, lack of self esteem, and anhedonia. A major concern that may affect children's adjustment to the sudden parental death, such as suicide, is the development of these children's traumatic expectations about the world, anxiety in social situations. Long-term clinical research of children who lost their parent as a result of suicide suggest that the psychosocial adjustment of these children when they become adults may be more problematic than after other forms of death (Pfeffer et al, 00).

In "The Grieving Child", (Fitzgerald1) when death strikes without warning, such as, heart attack or accident, there is no opportunity for the child to see the physical changes in their dying parent. The surviving parent may be in a great deal of pain and may have little time to think about the special needs of the child. It is critical for other family members, as well as health care professionals to support the child in order to resolve his/her grief. The child must have an opportunity to say goodbye to the dead parent in his/her own way (Fitzgerald,11).

Attributes of the Family Environment

Most children irrespective of their age yearn and need to talk about the death of their parent. According to Emswiler & Emswiler (000) over half of the children interviewed wanted to talk to their friends about their parent's death. Fortunately, most of their friends were willing to listen and talk to them. A third of the children wanted to talk to their teachers, who were warm and caring (Emswiler & Emswiler, 0001).

Although the world has changed over the years, funamental questions children ask about death remain the same. Such as "Why do I feel sad?", "What happens after death?" or "Am I going to die too?". Adults responses regardless, must be simple honest, consistent and loving. When introducing death to a child, real-life experiences are not the best way to begin with. Newspapers and television shows are often much too frightening and may only give the child misconceptions of the topic. A good way to introduce death is through books and other visual media. This allows us to observe others from a "safe" distance. Hearing characters express their thoughts and anxieties that the grieving child experiences can be reassuring. According to Grollman (15) when children experience the uncomfortable feelings of a protagonist, they may come to realize that not all of life's mysteries can be solved and that death and grief can be avoided.

Some attributes that may effect the child are the surviving parent's own distress and adjustment to death. The child's adjustment is also subject to the quality of care provided by the existing parent. Family communication patterns about parent's death and event leading up to it affect the child as well. When issues are spoken about and discussed, the child is more likely to adapt in a normal way. If parent does not speak of the death, the child is more likely to adapt in a bad way. This can promote denial, avoidance of the finality of loss, acting out and guilt may also result if parent's failed to communicate. Daily environment and unpredictability in daily routine may also contribute (Raveis, Siegel, Karus, 18167).

The only way for people to alter the pattern of children's grief is by being truthful, open and caring. The importance of allowing children to ask questions and of confirming the reality of their parents death and of allowing them to go through the painful yet therapeutic process of grief is emphasized by Helen Fitzgerald in "The Grieving Child" (1). Her research involving young children who suffered traumatic losses, such as, parental suicide deaths and murders combined death education in a support group. The success of this type of therapy in the later adjustment of grieving children broke new ground in the mental health field (Fitzgerald, 1).

In "Explaining Death to Children", Ames et al (167) children's questions should be answered briefly and simply without a great deal of emotion. Discussions of parental death should not revolve around myths, beliefs, or religion and should be approached gently. Most of all, fairy tales about a parent's death and such lies as "Mother has gone on a long journey", are unhealthy explanations. Such stories will contribute to a child's insecurity and inability to distinguish between reality and fantasy. Dishonesty may also contribute to the bereaved child's feeling of guilt about their parent's death. Such reactions may evolve from an earlier hostility towards the surviving parent. Finally, the grieving child should not be kept away from their parents funeral irrespective of their age. This is damaging and makes the child feel isolated from the family unit(Ames ed.16751).

Recent research (Christ & Siegel 00) has also shown that in addition to family support health care professionals can play a significant role in teaching children and adolescents coping strategies and preparing their family to facilitate the child adaptive tasks posed by their parents illness, death, and aftermath.

Please note that this sample paper on Illness and Death of a Parent is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on Illness and Death of a Parent, we are here to assist you. Your cheap custom college paper on Illness and Death of a Parent will be written from scratch, so you do not have to worry about its originality.

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"The truth isn't the truth until people believe you, and they can't believe you if they don't know what you're saying, and they can't know what you're saying if they don't listen to you, and they won't listen to you if you're not interesting, and you won'

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William Bernbach was a US advertising executive and copywriter. He trademarked subtle, low-pressure advertising in the agency he founded, Doyle Dane Bernbach, Inc., and is known among the advertising and marketing world for his clever quotes. (www.smallbusinesswizzards.com)

Using some of the thoughts of Mr. Bernbach and the Team, you will see that Apple and Kia are good examples of three basic truths

1. Creative marketing and advertising involves making products interesting by "being imaginative, original, and fresh" and gets the attention of consumers!

. Great advertising does NOT ensure brand success

. Gaining market share should not always be a primary goal in launching an ad campaign, and a low product rating doesn't always mean failure in this area.

Properly practiced creativity can make one ad do the work of ten.

-- William Bernbach

Apple is a good example of creative marketing and advertising they use tactics that give their computers a personality which is an original and very interesting way to sell personal computers and related products.

Regarding the role Apple ads play in demonstrating the personality of their products, the members of The Team seem to each have similar ideas, but different ways to express the thoughts…not unlike the personalities of Apple and their ads!

For instance, Micah's favorite new Apple commercial stars Vern Troyer (Mini-Me from Austin Powers movies) and Yao Ming (Basketball player for the Houston Rockets) both men, famous for their size, were used to advertise the new big (17") and small (1") "Powerbook" (which, incidently, are the largest, and most compact full-sized laptops, respectively). (http//www.basketball65.co.uk/apple1700.htm )

The commercial features the men on an airplane sitting next to each other. Each man pulls out his laptop, the small man's being the big laptop and the big man's being the small laptop. The humor is obvious without anything having to be said in the commercial, but it further demonstrates Apple's product "personality" in this case being that "they are both great and they are both unique" (www.basketball65.co.uk).

Monica notes that the Apple ads allow the viewer to see first hand how different this computer is from all the other computers. The ad shows you a computer that is able to think. By thinking the computer is able to interpret what the person in front of it is doing and perform the same actions. The ad is showing that it is not just a computer that will sit on the desk but will interact with the user.

The computer's flat screen demonstrates to the buyer that they can get the same advantages without the bulk of a big screen. The flat screen also shows how this computer can compete with the other computers by having a flat screen but is better than the other computers because it has a mind of its own and will relate with the user.

John sees that Apple plays a significant role in demonstrating the personality of their products. He believes the theme behind their iMac is the best example. Apple made the iMac available in colors such as indigo, ruby, sage and snow (Miles, 000). That appealed to consumers that wanted a computer with a personality, instead of a white, gray, or black computer box on the floor. Apple has introduced a host of products with personality. These include peripheral toys such as the Newton, and the iPod. In all their products, Apple has added a touch of flavor and panache.

Advertising doesnt create a product advantage. It can only convey it.

-- William Bernbach

According to the facts shown in the article the team examined for the study, no matter how creative The Team (and 4% of Harris Pollers questioned USA Today's "Ad Track", (Howard, 00, p. B06). finds Apple's advertising, this does not ensure their brand success.

Each of the companies listed in the USA Today Article (Snapple, Kia, and Apple) are all clever, even "great" advertisers, but, as you can see from their rankings, not necessarily the most successful…then again, how are we terming success? Micah thinks Apple has successfully made a strong, solid name for itself that says "we're not afraid of a little competition, we are here to stay!" As far as name recognition goes, they are every bit as renowned as Microsoft, yet with only "%5 of the share of the personal computer market (Howard, 00, p. B06). Though they are not ranked as highly in the sales department, Micah would still consider their advertisement a success!

John expands this view by saying that there are many factors, including great advertising that contribute to brand success. Some of these factors include quality, value, and price. Snapple's is a great example. Their exceptional advertising, combined with the quality, value, and price of their products helped them become number three in their respective market (Howard, 00, p. B06). Cases such as Apple and Kia are also great examples. With Apple and Kia, many consumers felt the advertisements great (Howard, 00, p. B06). However, the advertisements had no effect on their market share or market leadership. In these cases, consumers like the ads, but do not feel that the products meet their expectations or needs. In all, great advertising does not ensure brand success. Great advertising is a factor of brand success, but it does not ensure it.

Monica also makes a good point by saying that a company can have good advertisements, and many people can like watching or reading the advertisement, but watching and liking an advertisement is not going out and buying the product. The way to measure success of a product is by the sales it product and if the advertisement is good but produces no sales than it is just that, good advertising.

You can say the right thing about a product and nobody will listen. Youve got to say it in such a way that people will feel it in their gut. Because if they dont feel it, nothing will happen. -- William Bernbach

Gaining market share should not always be the primary goal. Obviously this is important, but if this is your only focus, you will have no heart behind the advertising, and as Mr. Bernbach says, above, there are really two ways to say the same truths about the product, and just as one way makes the customer feel it's worth, a customer can feel when the advertiser is only out for the money!

Some advertising campaigns might have a primary goal of customer retention

The General Motors "Road to Redemption" campaign is a good example (General Motors, 00 p. -). In this campaign, General Motors is primary focused on customer retention and secondarily focused on attracting customers.

Other campaigns, such as the Kia campaign, are primary focused on gaining market share. Kia's aggressive one-hundred thousand mile warranty and low prices, coupled with their creative advertising campaign was their attempt to gain more of a market share (Howard, 00, p. B06). However, Kia's share of the market is only one and a half percent (Howard, 00, p. B06). Though Kia's share is small, their campaign cannot deemed a failure.

An aggressive advertising campaign, such as Kia's, will not change market share overnight. Kia is new to the market, and they are competing with brands, such as General Motors and Ford Motor Company, that have been around for years. In fact, their market share of one and a half percent could be considered outstanding for the given marketplace.

In all, gaining market share should not be always be the primary goal. Some campaigns may have other primary goals related to their current business needs.

Micah also agrees that gaining market should not always be a primary goal in launching an ad campaign…let the $ signs out of our minds for a minute and think about this some times the best approach is the "get rich slow" approach! Kia may not be raking in the sales right away because of their advertising, but they are making their name known…this will pay off, maybe not right now, but as they cleverly advertise their way on down the road! This is exactly what the article was talking about with Apple. Their sales may have been less than amazing, but everyone seemed most familiar with their advertisements. They are getting their name out there, they are making people smile, making them feel comfortable. In the short term it may not bring drastic results, but maybe they aren't after the whirlwind of good advertising followed by a rush of purchases that fades like a catchy one-hit-wonder. Apple has had their catchy adverts around for as long as I can remember…they aren't trying to force sales, they are showing customers they are an established name that is going to be here for a while!

Monica's view is that it should not be the main goal but one of the most important goals. Gaining market shares should be what a company wants to achieve and so this should be what the company is striving for. The company could also use this goal as motivation to get their product out. Thinking about the company Kia. The company was a "nobody" and now their brand is ranked number twenty. They should look at this as a mild stone going in the right direction. A company has to start at the bottom and work their way up, no if they keep going in the upward direction they could reach number one.

What one should remember when reading through the three topics Team X-Factor has discussed, is that in any marketing or advertising strategy the people are what counts that is why some of these "truths" seem to defy logic people are different!

A final quote from Mr. Bernbach states, In advertising, not to be different is virtually suicidal.

The Team is of the opinion that not to be different in paper-writing is just as deathly! We hope through our thoughts have sparked an interest as you conclude this paper with a broader view of the three basic advertising truths we tried to convey.

Works Cited

Apple. (00). The new PowerBooks. Apple Computer. Retrieved from http//www.apple.com/hardware/video/powerbookg4bigandsmall_large.html

General Motors. (00). The longest road in the world is the road to redemption. Motor Trend. p. -.

Howard, Theresa. (00). Apple ads make impression; Small companies prove their spots can rival big firms. USA Today. p. B06

Miles, Stephanie and Ian Fried. (000). Apple's Jobs unveils new iMac, G4 systems. CNET.com. Retrieved from http//news.com.com/100-1040_-445.html

Other References Retrieved From

http//www.smallbusinesswizards.com/advertising_and_marketing_quotes_and_tips.htm

www.basketball65.co.uk

http//www.basketball65.co.uk/apple1700.htm

SPIDERMAN

Looking at the website for Spiderman, it seems that Sony's is trying to attract a large array of people. Having the website Creative and really involved will really make people want to see the movie. The Internet is a good way to advertise. People all across the world surf the web and enjoy what they find. If someone popped up on the Spiderman website, I think they would want to see the movie. Children will enjoy the movie because they know Spiderman as a superhero and from cartoons. Adults are targeted as well because they grew up watching Spiderman, and they want to see the movie. Overall, I feel Sony is advertising this movie to all people, and not trying to select an audience.

On the Spiderman website, it shows features for the new movie coming out in 004. It also lets people know that there is a new season of animated Spiderman coming to MTV. The strategy of the advertisement on the website is pretty good. It is giving information about the future of Spiderman. It makes people want to see the shows.

On the Sony website it allows you to buy movies online. It also advertises other merchandise such as toys that are made once a particular movie comes out. This surely does boost sales. Children always want items from characters in the movies. Advertisers know how to get the kids attention, which automatically gets the parents attention and they usually will end up buying them.

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SWOT Analysis of Soutwest Airlines

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Marketing Mix Paper

Modification of Wal-Marts Distribution Channel Center in China

Abstract

Over the years Wal-Mart Retail Stores have played a major role in managing every aspect of their marketing mix, from pricing to distribution. Their marketing mix strategies have made them the worlds leading discount retailer. This paper will highlight the history of Wal-Mart, its marketing strategy, early distribution model, and present distribution system. In addition, this paper will also identify the modification of Wal-Mart's distribution system as they entered China and the reason for choosing distribution as the element of the marketing mix.

Buy cheap SWOT Analysis of Soutwest Airlines term paper

To successfully target a specific segment market, Multi National Corporation (MNC) must develop an appropriate marketing mix. The marketing mix includes decisions about the product, price, promotion and place. The mix influences the consumer behavior and is a combination of how to develop the firm's product, how to price those products, how to sell those products and how to distribute those products to the customers. With those influences it is important for MNC to develop marketing strategies that are aimed at understanding the customers' needs so that the product or service provides customer satisfaction and organization objectives. An excellent example is analyzed in Wal-Mart Store's distribution system.

Wal-Mart Retail Stores' History

Wal-Mart's history is based on one man, Sam Walton about 40 years ago who was convinced that consumers would enjoy a discount store with a wide selection of merchandise and individual, friendly service. Through this philosophy, Sam Walton first store in Arkansas changed the course of retailing forever. Under his leadership, Wal-Mart has garnered more than 4,700 stores worldwide, 0,000 suppliers and more than $17 billion in annual sales which makes it the number one retailer in the United States (Busse, 00).

Walton's theory on what Wal-Mart should be is "a conveniently located one-stop shopping unit where customers could buy a wide variety of quality merchandise at discount prices." As Wal-Mart grew, management sought a firm that was a "discount department store chain offering a wide variety of general merchandise to the customer." It was on these values and philosophies that Wal-Mart expanded. Wal-Mart has grown tremendously in the U.S. market and has ventured to international markets. The company boasts at having stores in all 50 states, Puerto Rico, Canada, China, Mexico, Brazil, Germany, Argentina, Asia, Europe and South Korea (Busse, 00).

Wal-Mart Marketing Strategies

Wal-Mart's marketing strategies have given them a firm and distinctive competence that is difficult to match. Their initial approach to use new ideas, knowledge and experience coupled with geographical location in rural towns help to support their everyday low prices and maintain customer satisfaction. Their state of the art distribution and inventory tracking system has helped to position them as the number one retailer in both local and international markets. They have implemented key strategic features that support everyday low prices and increase customer, employee, and stake holder's satisfaction (Busse, 00).

Other marketing strategies include convenient location, wide range of products and services, great displays, and every day low prices. Wal-Mart marketing strategies target price conscious, time pressed consumers looking for good value and good service.

Early Distribution Method for Wal-Mart in United States

Wal-Mart, the number one retailer in the United States, is known for their superb distribution system. When Wal-Mart stores began to operation in 16, the founder and owner Sam Walton was the distribution system. Sam and his family would drive or fly to get supplies for their stores. Since the 16 variety stores (including Wal-Mart) were not considerably far away the Walton family saved expensive transportation costs by doing the shipping themselves (Wal-Mart).

Once Wal-Mart became a public company and growing at an exuberant rate, it was difficult for Wal-Mart to keep the same distribution system. The introduction of an extensive distribution system was made which has been able to track merchandise and inventories across the company. The system was one of the first to the retail market. It involved a satellite, scanners in stores and new warehouse within 50 miles of most stores. The strategic placement of these warehouses is to provide maximum replenishment of inventory when a particular location runs low on an item (Wal-Mart). Present Distribution System

Today, Wal-Mart is the largest retailing company in the world and most of the credit is due to the company's distribution system. By realizing, early on that computer programs increase the rate at which stores can be restocked Wal-Mart has been able to surpass their competitors. According to an on line source, "Wal-Mart's main strategy is a focus on developing cost structures that enable competitive pricing. To reach this goal, Wal-Mart focuses on the replenishment of inventory using the method of cross docking in cross docking; goods are delivered to the warehouses and immediately dispatched to stores without ever sitting in inventory.

This method of distribution helps avoid inventory and handling cost resulting in a reduction of cost of sales allowing lower prices to the customers. In order to effectively cross dock, Wal-Mart incorporates a complex system that links its distribution centers, suppliers and stores to guarantee that an order is processes and executed in hours. This efficiency is made possible by a private satellite-communications system and a fast and responsive transportation system" (Winne, Powe, Howard, 00)

Supply Retail Link System

In addition, Wal-Mart's has implemented a supplier�retail link system that meets their supply chain management needs. The supplier-retail link is a system that is specifically designed to address the unique requirements of Manufacturers and Distributors who sell to Retail Chains. It also provides a decision support system that acts as a bridge between Wal-Mart and its vendors. Wal-Mart has focused on improving its supply chain efficiencies and has invested up to 4 billion in the retail link system. Currently there are more than 10,000 Wal-Mart suppliers who use Retail link to monitor sales and inventory for speedy replenishment if necessary. Vendors of the retail link can retrieve sales data, inventory data and Wal-Mart information on its development (Winne, Powe, Howard, 00).

China's Distribution System

The traditional distribution system in China is owned by the state. It is a multi-layer system that has four or five layers. This extended system increases the prices as each layer adds a margin ranging from 5-17%. In addition, suppliers have little control over prices, delivery quality, and the inefficiency of the inventory system. Also the technology is underdeveloped which creates a major set-back for foreign suppliers, who have to rely on the state distribution system (Chung, 00).

At present, foreign firms are restricted in many ways in the distribution process. For example, foreign firms face political and legal restrictions to distribute imported products, or to manage the distribution networks. To get around these restrictions, many firms establish their own retail outlet, by forming joint venture or merger with local wholesalers. This was done by Wal-Mart and has been proven very successful (Chung, 00).

Wal-Mart Entering China

Knowing the inefficiencies of China's distribution system, Wal-Mart utilizes most of the same distribution strategies in their local market in China. However, several modifications on how they conduct business were implemented. First, their successful opening of the first five retail outlets in the nation capital of China, Beijing, became a reality through their merger with Shijingshan Agriculture, Industry and Commerce Corp. Through this merger a strong relationship was developed with Wal-Mart and other local partners. This created a local presence for Wal-Mart which helped to keep their name and projects in front of the many decision makers and help perform much of the necessary networking. In addition, Wal-Mart invested a considerable amount of time in understanding the Chinese culture which helped them to resolve differences as they arise and maximize their chances of success (www.chinatown).

Wal-Mart buys about US$4 billion worth of goods in China every year, for sale in its outlets across the globe. Indeed, the company has done so well sourcing from China that it has decided to move its global purchasing center to Shenzhen. In contrast to competitor Carrefour, which operates hypermarkets, Wal-Mart has been very careful to seek official approval for every move it makes in China. It has also expanded cautiously. As a result, Wal-Mart has earned a reputation as a well-behaved, law abiding corporate citizen (www.chinatown).

Modification to Distribution System in China

Wal-Mart has upgraded their supply chain system by selecting and implementing Atlas Metaprise software. This new software has helped the company enhance the functions of the retail link system by advancing its current global sourcing and collaborative business processes with its suppliers throughout China. The Atlas Metaprise software to Wal-Mart's retail link represents an internet business application that lets global organizations work more efficiently with their network of suppliers and distributors. By focusing on the three areas of strategic sourcing, supply, and demand management and global commerce management, the atlas software reduce cost of goods while still ensuring consistent supply availability.

Wal-Mart Improved Inventory Tracking System

Wal-Mart's inventory information system uses UPC scanners and hand held barcode scanners to track electronically the point of sale. This information is immediately communicated to the store's computerized inventory system, which allows maximum efficiency in inventory tracking. It not only allows maximum efficiency but it helps to keep the cost down which is passed on to its customers.

Their "just in time" inventory delivery allows merchandise brought in by trucks to its distribution hub to be sorted and distributed within 4-48 hours, thus minimizing idle inventory. Wal-Marts electronic data interchange allows it to communicate with over ,600 vendors regarding inventory orders, forecasting, planning, replenishing, and transferring electronic funds. Wal-Mart has maintained these activities as a tradeoff to maximize revenues and lower costs while maintaining a leadership position as the number one retailer. Not only does Wal-Mart use information technology to lower their inventory cost but also to lower their distribution cost (Busse, 00).

Wal-Mart Success

Wal-Mart success story in the United States has extended to China and other parts of the global market not because they sell a bigger range of better products than their competitors at better prices or because they have the most elaborate distribution system, but because they sell a concept, a format and a lifestyle. They focus on their USP - Unique Selling Point. Wal-Mart's management has recognized that transplanting a concept or a format in the global village is not enough. What are important are the complexities of local customs, tastes, preferences and culture which must be catered for. This sophisticated approach has earned Wal-Mart the position as the number one retailer both in the United States and in China.

Reason I chose Distribution

The distribution system is one of the most important marketing mixes and an integral part of the total marketing strategy. This system moves the product or service from the production line to the consumer in the most efficient manner. I love shopping at Wal-Mart because of their low prices, huge selections, convenient location, and the product availability. Wal-Mart has maintained these elements through their sophisticated and efficient distribution system and has been successful in the local and international markets. In addition, my experiences shopping at Wal-Mart has been pleasant. I can always count on Wal-Mart for low prices. Wal-Mart is able to maintain these low prices because of their sophisticated distribution system.

Conclusion

Wal-Mart's modification of their distribution system has positioned them as the number one retailer in China and around the globe. They have maintained this position by easily adapting to changes in international markets to meet the needs of their customers. As they continue to expand, their distribution system both in the domestic and international markets they will maintain their position as the number one retailer, the best place to work and the first service company to rise to the top of the Fortune 500 companies. As they continue to maximize the use of their distribution system and further streamline their processes they will continue to better meet their customer's changing needs in this global environment and establish a scalable global network that not only offers a sophisticated distribution strategy but will also maintain cost savings opportunities for its customers.

References

Busse M. (00). Wal-Mart Competitive Strategy. Retrieved on August 17, 00 from the World Wide Web http//faculty.haas.berkeley.edu/meghan//Case_

analysis_WalMart.pdf

Chung, A. (00) Market Environments and Distribution Structure & Characteristics in

China. Retrieved August 17, 00 from the World Wide Web http//www.retail

industry.about.com /library/uc/uc_chung.htm.

Walmart to open in Beijing. Retrieved on may 5, 00 from the World Wide Web www.chinatownsydney.com/biznews.cfm.

Winne J., Powe A., Howard W. (00) Wal-Mart. Retrieved on August 18, 00 from the

World Wide Web http//www.web.syr.edu/-dprosenb

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Tragedy strikes again in the tale of macbeth

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Macbeth is a tragic play written by William Shakespeare in the poetic form of

iambic pentameter. In Poetics, written by Aristole, through a summaryof this

work, written by Mrs. Barbara Prendergast, it is said, "the purpose of a tragedy

is [to] arouse the emotions of fear and pity in the audience and then to produceOrder Custom Essay on Tragedy strikes again in the tale of macbeth

a catharsis of these emotions." Only through a tragic hero can this be achieved.

A tragic hero is the central character with whom the audience identifies. In

Macbeth, the tragic hero is none other than Macbeth himself. The story of

Macbeth is intertwined with the traits of a tragic hero, which are goodness,

superiority, a tragic flaw, and realization that he/she is the reason of his/her

own downfall. Macbeth is a perfect example of a tragic hero because he contains

all the necessary traits of a tragic hero goodness, superiority, a tragic flaw

(which is ambition), and realizes that he is at fault for his own downfall.

A tragic hero must contain some goodness within their character or the audience

would never identify with him or pity his downfall, for only the good arouse

pity. "…that suggestion Whose horrid image doth unfix my hair And make my seated

heart knock at my ribs," (Act 1, Scene ; lines 15-17) Macbeth states that the

thought of murdering Duncan cause his hair to stand on end and his heart to

pound. "The service and the loyalty I owe, In doing it, pays itself. Your

highness' part Is to receive our duties and our duties Are to your throne and

state children and servants; Which do but what they should, by doing every thing

Safe toward your love and honor." (Act 1, Scene 4; lines -7) Macbeth is

saying that the pleasure of serving Duncan is enough pay in itself and by doing

everything possible to protect Duncan, he is merely completing his obligations

as a servant to his king. These two quotes tell us that Macbeth was, at least at

the one point in time, appalled at the thought of killing Duncan (as any normal

person would be) and even a loyal servant to Duncan.

A tragic hero must have an aura of superiority so the audience will pity his

destruction even more, which is the destruction of something so beautiful and

awesome. "For brave Macbeth�well he deserves that name�Disdaining fortune, with

his brandished steel, Which smoked with bloody execution, Like valor's minion

carved out his passage Till he faced the slave; Which nev'r shook hands, nor

bade farewell to him, Till he unseamed him from the nave to th' chops, And fixed

his head upon our battlements." (Act 1, Scene ; lines 16-) The Captain is

saying Macbeth is a brave soldier whose killed many a man, especially

Macdonwald, who he cut from navel to jaw then placed the head on the

battlements. "The King hath happily received, Macbeth, The news of thy success;

and when he reads Thy personal venture in the rebels' fight, His wonders and his

praises do contend Which should be thine or his. Silenced with that, In viewing

o'er the rest o' th' selfsame day, He finds thee in the stout Norweyan ranks,

Nothing afeard of what thyself didst make, Strange images of death. As thick as

tale Came post with post, and every one did bear Thy praises in his kingdom's

great defense, And poured them down before him." (Act 1, Scene ; lines 0-101)

Ross is telling everyone how the king wishes to praise Macbeth for his heroics

in battle and his prowess in combat. These quotes both demonstrate, from other

character's points of view, how Macbeth is a person of superiority.

A tragic hero must possess a tragic flaw, which is a character defect that

brings about the downfall of the character. It would be difficult for a

character with goodness and superiority to go about creating his/her own

downfall without a tragic flaw. In Macbeth's case, the tragic flaw is ambition.

"Glamis, and Thane of Cawdor The greatest is behind…" (Act 1, Scene ; lines

118-11) Macbeth through an aside speaks of how he has two titles but now wishes

for the one still out of his grasp, the title of king. "The Prince of

Cumberland! That is a step On which I must fall down, or else o'erleap, For in

my way it lies. Stars, hide your fires; Let not light see my black and deep

desires The eye wink at the hand; yet let that be Which the eye fears, when it

is done, to see." (Act 1, Scene 4; lines 48-5) Macbeth is saying, again through

an aside, that he must become king by action if he will not achieve it through

chance. These two quotes spoken by Macbeth state his desires and ambitions to

become king at any cost; in other words, they state his tragic flaw.

A tragic hero must realize how he/she contributed to his/her own downfall.

"Seyton! �I am sick at heart, When I behold�Seyton, I say! �This push Will cheer

me ever, or disseat me now. I have lived long enough. My way of life Is fall'n

into the sear, the yellow leaf, And that which should accompany old age, As

honor, love, obedience, troops of friends, I must not look to have; but, in

their stead, Curses not loud but deep, mouth-honor, breath, Which the poor heart

would fain deny, and dare not."(Act 5, Scene ; line 1-8) Macbeth dialogues

about how he is ready to die. His way of life has withered like a yellow leaf

crumbling in the wind, and he has lost honor, love, obedience, and troops of

friends in the process. "She should have died herafter; There would have been a

time for such a word. Tomorrow, and tomorrow, and tomorrow Creeps in this petty

pace from day to day, To the last syllable of recorded time; And all our

yesterdays have lighted fools The way to dusty death. Out, out, brief candle!

Life's but a walking shadow, a poor player That struts and frets his hour upon

the stage And then is heard no more. It is a tale Told by an idiot, full of

sound and fury Signifying nothing." (Act 5, Scene 5; lines 17-8) Macbeth talks

about how his wide should have died at a better time because his down is soon.

The brief candle of his life and rule are about to be blown out. Life is empty,

he states, one is heard for a moment then never more. Life is the tale of an

idiot, full of sound and fury, but meaning nothing. Both of these quotes

demonstrate how Macbeth came to the realization that he is the cause of his own

downfall.

The traits of a tragic hero are fully embraced in the play Macbeth, written by

William Shakespeare, by the character Macbeth. Macbeth is a perfect example of a

tragic hero. His character epitomizes the four traits of a tragic hero

goodness, superiority, a tragic flaw (ambition), and realizes that he is at

fault for his own downfall.

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McDonalds and the hotel industry

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Hand-in Assignment # McDonald's and The Hotel Industry

1.0 Key Issues 1

.0 Recommendations 1

.0 Analysis

.1 The category

. Brand Extension

..1 Advantages 4

.. Disadvantages 4

. Target Consumer 5

..1 Target consumer profile 6

.4 Segments 6

.5 Features 6

.6 Location 7

.7 Pricing 8

Exhibit # 1

1.0 Key Issues

The most important issue is to examine the possibilities for McDonalds to extend in to the hotel business. As pointed out by the industry observer the key issues in relation to the extension are

• Identification of target market

• Identification of segments to compete in

• Decision on which features the hotel should have

• Recommendation of possible location

• Price level of rooms

.0 Recommendations

A number of strategies can be pursued to establish a category extension. The strategy McDonalds is recommended to choose is to introduce a product that capitalizes on the firm's perceived expertise. This expertise is closely related to servicing families and creating a good and fun atmosphere for children. It is recommended that McDonald's introduce the hotel product building on the parent brand but with its own identity. A hotel is more than a fast-food restaurant and should be perceived as such. The recommendations for each key issue are based on the analysis and are shown in the table below

Key Issue Recommendation

Target Market Travel vacationers and lodging guests. Age 0-50 with children. Prefers to travel by car and enjoys various kind of entertainment

Segments The Midprice and Economy segments. Focusing much on families, building on the parent brand attracting consumers from both segments.

Hotel Features In-room appliances, Internet, Newspapers, breakfast/lunch restaurant with recognizable McDonald�s products.

Location Located near highways, in vicinity of theme parks, golf cources, and shopping malls.

Price Level $7 person/per day

.0 Analysis

.1 The category

The hotel industry is a very attractive category in terms of market potential measured in sales. The industry is closely related to the tourism industry which contributes considerably to the volume and being a globally recognized brand McDonalds could benefit even more from the tourism if they engaged in the hotel business. The category is expected to pick up positive growth ratio in the short term. As mentioned, the hotel industry is related to the tourism which makes seasonality a topic to consider when evaluating the attractiveness of the category. Even though the amount of tourists is not distributed evenly over the months of the year it is assumed that the amount of tourists in any given month is substantial making a potential business profitable.

Looking at the category attractiveness in relation to the product life cycle the hotel industry is mature. At this point the last stages of the cycle can shift from time to time between low growth and slight decline. Due to the size of the category a slight decline do not result in category unattractiveness. The overall attractiveness is summed up below

Category attractiveness Analysis

Factor Attractiveness

Aggregate Market Factors

Market size $108.5 billion +

Market growth Slight decline 0

Product Life Cycle Maturing +

Profits Good +

Seasonality Some + /0

Category Factors

Power of buyers High, low switching costs 0

Category rivalry Dependent on segment, intense 0

Category capacity Future growth makes space for new players +

. Brand Extension

McDonalds is faced with a serious issue in the fact that the McDonald brand is closely tied to a product class which limit it's potential to extend . The extension of the brand must be credible to the consumers and have ties to the parent brand. It is therefore important that a new product set forth by McDonald is perceived by the consumers in much the same way as the McDonald restaurants are perceived.

The difficulty arises from the nature of the extension which is a category extension and not a line extension where McDonalds have a large amount of expertise in adding new products. In this case McDonalds must use the parent brand to enter a new category where the customers are not used to the presence of McDonalds. For the extension to be successful it must build off one or more of the following positioning components and communicate it successfully

Positioning Component Communication Challenge

It extends McDonalds target market By moving in to the hotel business McDonalds must serve a new group of consumers whose needs differ from the traditional restaurants guests.

It extends McDonalds business definition The extension will move McDonalds from a family oriented fast-food chain to a business that must be able to satisfy other needs of families i.e. accommodations for weekend trips, short vacations.

It extends McDonalds point of difference By extending in to the hotel business McDonalds is increasing it points of difference compared to both businesses in the fast food category and established hotels.

It extends the entire positioning The extension will make it very visual that McDonalds is now a business not only focusing on fast meals but other areas as well.

In regarding to how McDonald's is going to manage its new product they must use the parent brand the master brand and through that create the value proposition. With a different product in a new category McDonald�s can be considered to be a Branded house .

..1 Advantages

There are some advantages in a future brand extension. The McDonald brand is very recognized and that could facilitate an acceptance of McDonald's hotels. Even though McDonald's has struggled with health issues it is still recognized as a family friendly place and this recognition could be helpful. In addition, the risk perceived by the customers could be reduced by the fact that McDonald's is very oriented towards families. In terms of marketing McDonald's can use their experience from the parent brand when planning for the new category. The extension in to hotels is a way of achieving multiple customer contact points which can lead to a stronger tie between McDonald's and their customers.

The extension could also be used as a platform for revitalizing the McDonald's brand in times where consumer's preferences have changed. As mentioned the target market must be extended and this could be beneficial for the McDonald's restaurants leading them to an increase in market coverage. If the brand extension is successful the experience gained could open the door for future extensions.

.. Disadvantages

The disadvantages are to be taken seriously because they can hurt the traditional business model. Consumers could get confused by McDonald's entry into a new category. This would probably foremost hurt the hotel business and not so much the restaurants. If the extension fails due to bad service, lack of management, intense competition the parent brand could suffer from this and ultimately dilute the brand identity.

. Target Consumer

The travel market in Illinois is divided in to leisure and business consumers served by all seven kinds of hotels. The most significant difference between the two types of consumers is their level of income and their subsequent spending on lodging. This difference must be taken in to consideration because of the gap between what is spend by the two types of consumers on lodging. The profiles of the two types of consumers are summed up below

Spending/day Spending/lodging Primary activity Size of party

Leisure $8 $ Dinning out .

Business $155.0 $17 Dinning out .

The amount available for lodging differs greatly but the leisure market is twice as big as the business market and based on the figures above the profitability is also higher here. Prices have been increasing in every class of hotels but the average price in Economy and Budget is still compatible with the amount spend by leisure travelers. This kind of customer is important to be aware of because Illinois is the point of entry for McDonald's hotels.

There is a great potential in reaching the foreign vacationer market and this segment is considered to be price sensitive which makes it possible to couple it with the local leisure traveler. The average price paid by vacationers are higher than that of the local leisure traveler but the price structure is very much affected by the premium prices paid in the top segment. The lower end vacationer is therefore considered to match the local leisure traveler.

For McDonald's to be a success in the hotel business they have to leverage their business strengths and focus on which kind of customers they want to serve. In identifying the target consumer McDonald's must look at the experience they have in serving families. McDonald's stronghold in the fast food market as a family friendly restaurant should be used in the extension in to the hotel business. McDonald can make use of the advantage that it is recognized as a family restaurants and attracting this kind of consumers to the hotels.

..1 Target consumer profile

The target consumer is aged 0-50, married and with children living at home. The yearly household income is approximately $60.000. The target consumer prefers to travel by car, be in the vicinity of various kinds of entertainment, and dinning out.

.4 Segments

The segments given all live up the key criteria that defines segment which is; sizeable, identifiable, reachable, different responds, coherency and stable.

The segments chosen to be targeted by McDonald's must comply with the target consumer and the parent brand identity. From a price perspective McDonald's could match the segments of Midprice, Economy and Budget. The most important factor is that it must be affordable for families with children and offer a range of services similar to those offered by the Economy and Budget segments. The segment chosen has a high impact on the price charged it is therefore very important that the hotels do not over match the needs of the consumers. If that is the case the consumers will think of it as paying a premium without wanting that level of comfort.

Even though the target consumers are families the McDonald's hotels should also serve business travellers who often has a family and can use the experience with McDonald's hotels as a reference when deciding how to spend the family vacation. Of course the business segment is a substantial source of potential revenue which is the main reason for serving this consumer.

.5 Features

When deciding which features to offer at the hotels McDonald's must look what is demanded by consumers in the similar segments and as important identify points of differentiation where McDonalds's hotels can distinguish itself from the competition and add value to the consumer.

It is paramount that the features live up to the needs and expectations of a family such as different in-room appliances. In addition, there must be different sources of information available required by both families and business travellers.

One way to establish a point of differentiation is to use some of the traditional McDonald's products that are familiar to most consumers. This is however, a difficult decision to make because the hotel must foremost be perceived as a hotel otherwise the brand extension becomes a disadvantage that confuses the consumer. When focusing on families an obvious product to offer is the Happy Meal for children and foods to go for excursions.

Extending the range of offerings makes the hotels capable of competing at other competitive levels i.e. the generic and budget level.

.6 Location

The choice of location is an integrated part of developing the new product. For McDonald's to be able to best meet the needs of the consumers the hotels must be located near highways making the access to entertainment centres easy. The target consumer uses the car as the primary means of transportation and a hotel located outside the major cities can act as a base for the consumer. Given these criteria the primary locations should be outside the major cities but still close enough to make them an option for travellers that want to experience Chicago.

Both Illinois and Chicago have a high level of tourism which makes this an ideal entry point for McDonald's. Taking the risk associated with the extension into consideration, a one-state entry could provide McDonald's with experience and results that allows them to evaluate if the business and brand extension is successful. On the basis of these results the hotels could be introduced in other states starting with those that resemble Illinois the most.

.7 Pricing

The level of pricing is in someway a function of the all of the above mentioned factors. Those factors are perceived by the consumer as an entity and shape the value of the hotel in the mind of the consumer. McDonald's can use the existing price structure of the industry to help them understand how much the consumer is willing to pay. To help decide the price level it is necessary to establish some objectives that must be accomplished and construct a scenario based on the objectives. The price can then be derived from this scenario combined with what the consumer is willing to pay for a substitute product in the category .

It is assumed that McDonald's can capture 1% of the sales of the total sales worth $108,5 billion making McDonald's sales worth $1,085 billion. In order to reach this goal various assumptions must be made. In order to penetrate the market McDonald's must set up 60 hotels in Illinois each with 75 rooms running 50 days a year. With room occupancy of 60% 4 rooms are available and the average party of guests will be persons staying for 4 days. The price derived from this scenario is as follows

Rooms occupied(Open Days/Days staying) Party sizeDays stayingHotels =

54(50/4) 450 = 1.80.000 consumers paying an average price of $7 per person/day.

This price corresponds with the average price paid in the Midprice segment even though it is slightly higher. The hotel can differentiate the prices according to the season and charging higher prices when the level of vacationer is highest and lower in the off-season to better fit the local lodging guests.

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Economics

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Economics

The Monetary and Fiscal Policies are the ways that our economy is kept under control. Both policies have their strengths and weaknesses, some situations favouring use of both policies, but most of the time, only one is necessary. The monetary policy is the act of regulating the money supply by the Central Bank. One of the main responsibilities of the Central Bank is to regulate the money supply so as to keep production, prices, and employment stable. The Central Bank has three instruments to manipulate the money supply. They are the reserve requirement, open market operations, and the discount rate. The most powerful instrument available is the reserve requirement. The reserve requirement is the percentage of money that the bank is not allowed to loan out. If it is lowered, banks are required to keep less money, and so more money is put out into circulation. If it is raised, then banks may have to collect on some loans to meet the new reserve requirement.

The instrument known as open market operations influences money and credit operations by buying and selling of government securities on the open market. This is used to control overall money supply. If the Central Bank believes there is not enough money in circulation, then they will buy the securities from member banks. If the Central Bank believes there is too much money in the economy, they will sell the securities back to the banks. Because it is easier to make gradual changes in the supply of money, open market operations are use more regularly than monetary policy. When member banks want to raise money, they can borrow from Central Bank. Just like other loans, there is an interest rate, or a discount rate, the third instrument of the monetary policy. If the discount rate is high, then fewer banks will be inclined to borrow, and if it is low, more banks will borrow from the reserve banks. The discount rate is not used as frequently as it was in the past, but it does serve as an indicator to private bankers of the intentions of the Central Bank to constrict or enlarge the money supply.

The monetary policy is a good way to influence the money supply, but it does have its weaknesses. One weakness is that tight money policy works better that loose money policy. Tight money works on bringing money in to stop circulation, but for loose policy to really work, people have to want loans and want to spend money. Another problem is monetary velocity. The number of times per year a Euro changes hands for goods and services is completely independent of the money supply, and can sometimes contradict the efforts of the Central Bank. The benefits of the monetary system are that it can be enacted immediately with quick results.

The second way to influence the money supply lies in the hands of the government with the Fiscal Policy. The fiscal policy consists of two main Instruments. The changing of tax rates, and changing government spending. The main point of fiscal policy is to keep the surplus/deficit swings in the economy to a minimum by reducing inflation and recession. A change in tax rates is usually implemented when inflation is unusually high, and there is a recession with high unemployment. With high inflation, taxes are increased so people have less to spend, thus reducing demand and inflation. During a recession with high unemployment, taxes are lowered to give more people money to spend and thus increasing demand for goods and services, and the economy begins to revive. A change in government spending has a stronger effect on the economy than a change in tax rates.

When the government decides to fight a recession it can spend a large amount of money on goods and services, all of which is released into the economy. Despite the effectiveness of the Fiscal policy, it does have drawbacks. The major problems are timing and politics. It is hard to predict inflation and recession, and it can be a long period of time before the situation is even recognised. Because a tax cut can take a year to really take effect, the economy could revive from the recession and the new unnecessary tax cut could cause inflation.

Politics are another problem. Unlike the monetary policy run by the Central Bank, the government initiates the fiscal policy, and so politics play a key role in the policy. When the concerns of the government are viewed, it becomes obvious that a balanced budget is not the primary objective, anyway. The fiscal policy can also be used as a campaign tactic. If tax cuts are initiated and government spending is increased, then the T is more likely to be re-elected, but has first to deal with the inflation his tactic caused. Monetary and fiscal policies are what helps keep the nation's economy stable. With them it is possible to control demand for services and goods and the ability to pay for them. It is possible to manipulate the money in private hands without directly affecting them. The policies are simply a myriad of Instruments used to prevent a long period where there is high unemployment, inflation, and prices, along with low wages and investment.

In Ireland the fiscal policy is based on wage agreements and unions for management and workers to slow wage growth while increasing job creation. There is a ten- percent corporate tax rate in international manufacturing and service companies in Ireland. The policy also includes high government expenditures for education, training programs, and the physical infrastructure. Finally, reform of tax and welfare to increase work incentives centred on supply-side reforms focused on trying to increase foreign investment and increase the competitiveness of goods produced in Ireland in the international marketplace. The EU also provides investment in Ireland, largely to improve the infrastructure. This policy continues to help Irelands economy prosper. The real GDP growth for Ireland has averaged about nine percent since 14, and Irish incomes have risen by over two-thirds since the early nineties. Unemployment has gone down drastically from 16 percent in 1 to below six percent in 1. This is due partly to former emigrants moving to Ireland and joining the labour force. The reduction in unemployment problems has, however, led to other problems brought about by such a fast growing economy. These include shortages of skilled and unskilled labour and overcrowded roads and houses.

Participating in the EMU has taken away Irish control of monetary policy and has thus moved the governments focus to fiscal policy. A main fiscal policy used by the government has been to cut income tax in exchange for relatively stable wages to increase employment. Now, as the economy is moving toward full employment, they hope to move toward more flexible union pays policy while still giving tax cuts to low and medium income earners. Monetary policy is under control of the European Central Bank. The Irish central bank still exists to implement the common European monetary policy through actions such as adjusting liquidity at the ECB set interest rate. Since 1, price stability has been a goal of the EMU. There is a yearly zero to two- percent increase in the consumer price index. The European Central Bank operates its monetary policy through buying and selling government securities. Ireland accounts for only one percent of economic activity among the Euro countries.

The Central Bank of Ireland came into being in 14 following the passing of the Central Bank Act 14. It replaced the Currency Commission, which functioned as the national currency issuing authority from 17 to 14. The Bank is now a member of the European System of Central Banks (ESCB) whose primary objective is the maintenance of price stability in the Euro area. The maintenance of price stability is also enshrined in the Central Bank Act, 18. The basic tasks of the ESCB are to define and implement the single monetary policy; to conduct foreign exchange operations; to hold and manage the official foreign reserves of the Member States; and to promote the smooth operation of the payment systems. The ESCB is also called upon to contribute to the smooth conduct of policies relating to the prudential supervision of credit institutions and the stability of the financial system.

The Governing Council of the European Central Bank is the central decision-making body in charge of monetary policy for the Euro area. The Governor of the Central Bank of Ireland is one of the 18 members of the Governing Council. The implementation of monetary policy decisions rests with the Euro system, comprising the ECB and the national central banks of the 1 member states, which have adopted the Euro. The Bank's other tasks include acting as agent for and banker to the Government. The Bank is statutorily responsible for the supervision of most financial institutions in Ireland including banks, building societies and a broad range of non-bank firms, exchanges and collective investment schemes. The Bank reports annually on its activities to the Minister for Finance, and a statement on the Bank's annual accounts, as audited by the Comptroller and Auditor General, is also published.

The Governor of the Central Bank appears before joint committees of the Oireachtas when requested. The Bank's Annual Report and Quarterly Bulletins, together with the Bank's Monthly Statistics, are a primary source of banking and related financial statistics on the Irish economy. Ireland is one of the member countries that now use the single European currency, the Euro. On January 1, 1, use of this new currency went into effect. The transition to a single currency has affected both the macroeconomic performance and policy of Ireland. There is strong control of public spending which reduces the need for government borrowing and increased taxes.

Irelands macroeconomic policy and performance must be formulated to fit the goals of the European System of Central Banks. The ESCBs objectives include balanced development of economies, growth without inflation, convergence, increased employment, elevating standard of living..The transition to the Euro has moved Irish policy focus from monetary to fiscal policy. The fiscal programs instituted by the government will hopefully allow Ireland to reach these goals.

The unemployment rate in Ireland has been declining due to the fiscal policies aimed at boosting employment. This lower unemployment rate is a result of Irelands efforts to improve their output and efficiency to meet standards for joining the EMU. The short-term interest rates have been declining. This encourages investment spending and boosts GDP. Irelands interest rates are affected by their involvement in the EU.The Irish Government has improved its fiscal policy and has moved out of a deficit and into a surplus. The 1 figure represents the planned budget, not the actual result. This change, from a deficit to a surplus, represents increased effort by the government to improve the economic conditions.

The Maastricht Treaty mentions EMU and refers to it together with the Single Market as one of the means by which the Union will promote economic and social progress that is balanced and sustainable. The treaty refers to the fixing of a single currency, the ECB, and a single monetary policy and exchange rate policy. The first stage began on 1 July 10 with the removal of exchange controls in 8 of the then 1 Member States, the inclusion in principle of all currencies in the narrow band of the Exchange-Rate Mechanism (ERM), and measures to encourage convergence. No new institutions were required. The second stage began on 1 January 14, with the newly created European Monetary Institute (EMI), based in Frankfurt, gradually assuming a coordinating role. Those countries that qualified undertook stage of EMU in early 1. At the beginning of Stage the participating states adopted the irrevocably fixed rates at which the Euro was to be substituted for national currencies. Stage also entailed the creation of a European System of Central Banks (ESCB), composed of the European Central Bank (ECB) and representatives of the national central banks.

The EMU gives birth to a market as big as the United States and backed by a single currency. It represents twenty percent of world economic output and eighteen percent of world trade. The Euro has quickly lead to huge capital flows in Ireland, making the Irish firms more competitive in the global marketplace. Businesses will save money; the costs of changing currencies from country to country will be sharply reduced. Comparing prices are quicker and interest rates are stabilised. All this will make long-term planning easier. The member countries are Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain.

On 1 January 00 Euro notes and coin were put into circulation in all Euro zone countries and the process of withdrawing national currency notes and coins began. In Ireland the dual circulation period, during which both currencies were to be legal tender, lasted from 1 January 00 to February 00. During the dual circulation period retail outlets had to accept both Irish pounds and Euro but gave change as far as possible in Euro only. Following the removal of legal tender status from Irish pound notes and coins was on midnight on February 00, retailers were no longer be obliged to accept Irish pound cash as a means of payment. Bank of Ireland continued to accept Irish pound cash for a period after this date.

The value of the Euro was determined by economic conditions in the Euro area and particularly by maintaining price stability. Countries will only be allowed to join Economic and Monetary Union when their economic conditions have converged toward those in the Euro area so that their entry should not impact significantly on the value of the Euro. During the three-year transition period, 1-00, European companies converted their accounts to Euro. Then, in 00, Euro notes and coins were circulated in the different countries. In May 18, bilateral exchange rates between participating currencies were introduced.

Since World War II, Europe has been moving toward integration and with the creation of the Euro, they have made a giant step toward uniting Europe. The Euro will have immediate benefits. People travelling or simply shopping among participating European nations will immediately benefit from being able to compare prices for similar goods without needing a calculator. Not only will the exchange rate become irrelevant, but the costs of converting between currencies will also be eliminated. Because of the savings related to currency conversions, one-third of firms expects short-term earnings gains from the introduction of the Euro, and three-quarters expect long-term benefits to the bottom line. The Euro will make life easier for the people of Europe.

Please note that this sample paper on Economics is for your review only. In order to eliminate any of the plagiarism issues, it is highly recommended that you do not use it for you own writing purposes. In case you experience difficulties with writing a well structured and accurately composed paper on Economics, we are here to assist you. Your cheap custom college paper on Economics will be written from scratch, so you do not have to worry about its originality.

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