A tangible item which can be acquired by the marketplace for consumption is called as a product (Klein, Pacheco & Righi, 2017). It includes software and physical products like iPhone, Microsoft word etc.
An intangible item which occurs due to the result of one or more persons which means those are performed by a person for someone is called as a service. This includes laundry, car washing, massages, system repair and maintenance etc.
A value proposition means the worth of the product which an organization commits to deliver to the consumers. It gives answers to the reason for purchasing the product.
A unique selling proposition helps to differentiate the products of the company from similar products of competitors. IT can be a high quality of low cost.
The Business Model Framework is a blueprint of what functioning plans lead the company in moving forward and have a solid basis. It includes cost, revenue, investment and profit.
Cost in a business framework includes all the cost incorporated to make the business model work. These are evaluated based on defining key actions, resources and partnerships in business.
Revenue in a business framework explains the fact that the company sells items and services to generate revenue.
The investment in the business framework is an accounting asset which is purchased in the expectation of making money on its own.
The profit in a business framework explains the monetary benefits which are received when revenue is generated from a business action surpass the costs and expenses.
Office politics is present among all companies. These are the actions which are used by the employees in improving their reputation and working on their agenda at the expense of other employees. If an employee has the abilities of office politics it can prevent other employees to take his advantage. IT can also assist in the advancement of a career. It is necessary to develop these abilities or it can hamper career growth. It is not that employees should become a political person but he should be able to deal with the politics going around him. There is a negative effect of office politics in the organizations since it affects the performance of the company. Office politics can demotivate the employees and enhance the stress level in the company (Iqbal, Khan & Ahmed, 2019). It can also alter the outlook of staffs towards work. Overall it is responsible for decreasing the organization's productivity. Some psychologists say that mainly it is to understand the concept of office politics and utilising that understanding to make an impact on other employees. Office politics cannot be termed as good or bad, the main thing is how it is used. Some professor says that office politics can be helpful for the career path. This will not deny the fact that office politics can lead to undesirable and destructive results.
In a company, an employee X was asked to refurbish a system by his Boss. Employee X went through several tough hindrances in the first and second stage of the project but still, he resolved it. As soon as the project went into the final stage the boss started a fight with him without any major reason which makes the employee X leave. Finally, the boss took all the work credit for that project by his seniors.
The Swot analysis will help to evaluate the opportunities for a business of supermarket by analysing its strength, weaknesses and threats. The Swot analysis of a supermarket includes:
· Market segmentation and leadership
· Brand status
· Staff policies and training
· Restricted global presence
· Low brand awareness
· Product price
· Resource management
· Brand promotion
· Novel store opening
· Changing the pricing strategy
· Economic recession
The mind map of the supermarket helps to provide relationships among people, facilities, brand names and things to buy in a supermarket.
Segmentation of the market is a subdivision of persons or organizations which have more characteristic in common which make the requirements of the identical product. Market Segmentation is carried out to split a market into similar and identifiable subdivisions (Dolnicar, Grün & Leisch, 2018). It will develop a huge issue for businesses if the marketing strategies will depend on pointing to the entire market. Market segmentation offers profits to the businesses since it allows companies to reach a customer with exact necessities and wants. There are numerous profits of market segmentation which comprises of:
The company Volkswagen has done something rare which was not all expected by such a big car designing German company. The corporation violated the Clean Air Act and the Kyoto practise of the United Nations for which the company got a warning from the Environmental Protection Agency. At the later stage, the company Volkswagen agreed that it intentionally fitted out its inline of Turbocharged direct injection engines with the tool which was able to bypass the defective components of the emission regulator system which was made by the company. It had been observed that the company manufactured around 500,000 diesel models in the year 2009-2011 which was having this tool. As soon as this news came out the Environmental Protection Agency found out that around 11 million vehicles were manufactured with this tool.
Due to this, the international media started blaming and criticizing the company for not abiding by the ethical standards. Due to this unethical step, the company Volkswagen faced several severe consequences (Fernando, 2018). This scandal was an irresistible complex case which has shaped melodramatic difficulties for its direct and indirect shareholders. Due to this unethical step by the company it had to face calamitous consequences. An appropriate solution is required in this case which can be a green punishment. In this manner, the company will be penalized and will compensate for its unethical step suitably. The Volkswagen case is an old case, so, it is possible to give suggestions to the judge like green punishment to resolve the case.
The selected industry and company is the beverage industry and Coco-Cola Company respectively. The Australia based beverage company “Coca-Cola Company” is going to introduce Coca-Cola energy in the market. It is the first energy drink with a Coca-Cola flavour. The main ingredients of Coca-Cola Energy are guarana and caffeine. It will be available in retail shops in Australia in 250 ml cans. It will be delivered with good taste, which is refreshing and delicious, and without any sugar. The company Coca-Cola wants that people should try a new and different taste of the energy drink in their busy schedules. In this way, the company is offering a wide variety of drinks for different occasions and lifestyles. This is the latest marketing strategy for the Coca-Cola Company. This drink will be beneficial for those Australian people who are busy in their daily lives and require some additional energy. The Coca-Cola energy is designed with a purpose to serve the young generation in the age range of 18 to 39. There will be an organization of an integrated marketing campaign. The Coca-Cola energy drink will not be provided to the children’s less than 18 years of age and it will not be promoted to be mixed with alcohol. Coca-Cola Energy will be a different drink for the individuals which will stand in the market against the competitors like PepsiCo, red bull, Tropicana drinks etc.
Coca-Cola Energy is the first energy drink with Coca-cola taste of The Coca-Cola Company which will not contain any sugar (Niu & Wang, 2016).
Dolnicar, S., Grün, B., & Leisch, F. (2018). Market segmentation analysis. In Market Segmentation Analysis (pp. 11-22). Springer, Singapore.
Fernando, M. (2018). ETHICS, VALUES AND RESPONSIBLE LEADERSHIP. Leadership: Regional and Global Perspectives, 99.
Gürel, E., & Tat, M. (2017). SWOT analysis: a theoretical review. Journal of International Social Research, 10(51).
Iqbal, A., Khan, A., & Ahmed, S. (2019, August). Turnover: Organizational Politics or Alternate Job Offer?. In International Conference on Management Science and Engineering Management (pp. 641-653). Springer, Cham.
Klein, A., Pacheco, F. B., & Righi, R. D. R. (2017). Internet of things-based products/services: process and challenges on developing the business models. JISTEM-Journal of Information Systems and Technology Management, 14(3), 439-461.
Niu, Y., & Wang, C. L. (2016). Revised unique selling proposition: scale development, validation, and application. Journal of Promotion Management, 22(6), 874-896.
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