Thursday, December 26, 2019

Culture Can Be Both An Asset And A Liability - 1571 Words

Question: Culture can be both an asset and a liability to an organisation Ravasi and Schultz (2006) wrote that Organizational culture is shared values and ideas that guide appropriate behaviour for various situations in the organization. Culture is created for people in an organization to behave consistently, which encompasses identical values, beliefs and principles of all the members (Needle 2010). Therefore, the culture in an organization can affect the ways of its members in work strategy and performance as well as interaction with colleagues, clients and stakeholders. In addition, organizational culture also have significant impact on the employees sense of identity with their organizations. As a result, organizational culture has always been treated as an important attribute for an organization’s effectiveness (Deal and Kennedy, 1982; Peters and Waterman, 1982). If the culture for an organization is valuable, supportive and positive, it would be an asset for the organization, which leads to satisfied financial performances. On the contrar y, firms with negative and invaluable culture will bear liability resulting from such culture and hence make the organization less competitive. A valuable culture has significant positive economic value for an organization. Firms with valuable culture are more likely to engage in activities that can make profits for them. These activities have impose a positive economic effect on companies, which lead to strong performance ofShow MoreRelatedOrganizational Culture : Employee Growth Or Over Dependency?1532 Words   |  7 Pagesâ€Å"Culture can be both an asset and a liability to an organization† Culture is the shared principles and traditions that influence the ways its member perform. 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In a stock acquisition it’s a faster and easier transaction than an asset purchaseRead MoreIRS and Tax Regulations1649 Words   |  7 PagesGenerally Accepted Accounting Principles (GAAP) which uses the accrual method to report revenues. Taxable income on the other hand, which is determined by rules and regulations of the IRS, follow a modified cash basis to determine revenue. Therefore, it can be seen that these amounts differ because of the differences between tax regulations and GAAP. The majorities of financial advisers do not have a formal accounting or tax background and thus have some challenges to overcome when reading tax returnsRead MorePricing Strategy Of Pizza Hut949 Words   |  4 Pagesmarketplace through this penetration pricing policy. Logistics and its costs – Pizza Hut can source its baking recipes from one of the best local baking recipes sellers, the Dangote group who has the highest market share in this region could be a reasonable source. Also, they could help with distribution. A warehouse could be made available, and it should be located close to the factory. Distribution logistics can be outsourced to local transport services on contracts, using special containers brandedRead MoreOrganizational Culture At Ivey Business Journal1351 Words   |  6 PagesOrganisational culture shared among all the members, with its values, principles, traditions and methods of working. It determines how an organisation functions, from industry side to individually. It could be an important asset which, if not managed well, can be a critical liability for the organisation. While a healthy and positive organisational culture could increase relationship between employees and employer, and together achieve the maximum p erformance for the company, a deleterious culture would leadRead MoreAnnual Report Analysis Of Franklin Covey And Standard Register1312 Words   |  6 Pages Annual Report Analysis of Franklin Covey and Standard Register Yolanda Bell Colorado Technical University Abstract An Annual Report is a visible look at the activities of a corporation the can give shareholders and any other individual who may need to look at company finances, a comprehensive understanding of the company performance. This report will take a look at the different information found in an annual report. The Annual Report is customized by companies, but there are components thatRead MoreCase Study : Gaap Convergence And Ifrs1671 Words   |  7 Pagesand goal, however they both require different techniques and have different regulations and allowances to attain this goal. In general, GAAP utilizes a rule based approach, its straight forward in exactly what is allowed and what is taboo. This fits mirrors a low context culture, such as the United States, where communication is concrete. On the other hand, IFRS leaves more room for interpretation and is a little more open ended. This is befitting of high context cultures such as China, where communicationRead MoreTootsie Roll Loan154 8 Words   |  7 PagesInc. will be preparing a loan package to maintain ultimate company performance, maximize the company’s profits, and increase the shareholder’s value. Tootsie Roll Industry Inc. will be applying for a loan that will increase the company’s total liability by $17,449.50. A perfect loan package includes a concise executive summary that focuses primarily on the ratio analysis of the financial statement, justification for the loan, and explanation of how the company intends to use loan. The correspondingRead MoreStarbucks Coffee Company ( Sbux )1563 Words   |  7 Pagesserve the best coffee with delicious flavors of coffee beans, treating employees as partners, and serving an inviting atmosphere to their customers. The new owner, Howard Schultz generated a culture of high values where people are treated like family. He has worked to produce a modernized structure where employees can grow by working in a teamwork environment. The key to his success has been communication in which it differentiates Starbucks Coffee is creating the biggest coffeehouse in the twentieth-centuryRead MoreSwot Analysis Of Jp Morgan Chase997 Words   |  4 PagesMorgan JP Morgan and Chase (JPMC) is the top fanatical service of US market and the biggest bank in US. JPCM with its exceptional 5 different business segments, which are corporate and investment banking (CIB), consumer and community banking (CCB), asset and wealth management (AWM), commercial banking (CB) and corporate entity. Strengths in the SWOC Analysis of JP Morgan Chase: JP Morgan Chase is a leading player in the global financial services: JPMC has operations in over 100 countries and serves

Tuesday, December 17, 2019

The Political Implications of Accounting and Accounting...

D Solomons, The Political Implications of Accounting and Accounting Standard Setting, Accounting and Business Research, 1983 COPYRIGHT WARNING NOTICE This course reading may be used only the for the University’s educational purposes. It may be a copyright work, or an extract of a copyright work, copied under copyright licences. You may not copy or distribute any part of this course reading to any other person. Where this course reading is provided to you in electronic format you may print from it for your own use, only. You may not make a further copy for any other purpose. Failure to comply with the terms of this warning may expose you to legal action for copyright infringement and/or disciplinary action by the University. SPRING†¦show more content†¦So regulation is necessary to secure what everyone wants. For Ihe history or this early period. see Stephen A Zelf. Forging Accoullting Prillcipfe5 ill Fire COl/lltrU!s illinOIS. 1972) The third argument appeals tn the limited capacity of receivers of inrormation to interpret and ACCOUNTING AND B US INES RESEAR CH use it. This point is expressed by Peter Bird as follows : Where communication i restricted either by the limited signal capacity or by the limlled attenlion of the receiver, the challenge is to convey as much meaning as possible wilhin these constraints. The receiver mllst be clear what each message means; Ihe semantic noise of uncertainty or misunderstanding can prevent any clear meaning from reaching Ihe receiver. Th e more standing orders that can case for requiring those who prepare financial statements, and perhaps those who use them. to sacrifice some preferred modes of behaviour in order to gain from the similar sacrifices made by others. The FASB uses an analogy with driving behaviour to reinforce Ihis point : Like mOlorists who observe Iraffic laws in the interest of their own and general lraffic safety, so long as others do the same. in general, Ihose who have 10 subordinate Iheir individual prerercnccs to observe common accounting be agreed in advance regarding terminology, selection and even form of messages. the more of IheShow MoreRelatedCurrent Financial Reporting Standards On The Workplace Essay1744 Words   |  7 PagesCurrent Financial Reporting Issues It is incontestable that international financial reporting standards (IFRS) are in vogue and global conformity theoretically on the doorstep as about 100 countries implement standard financial regulations. The idea that uniform reporting standards have the same effect on financial reporting undervalues the contested ability to be flexible in financial reporting and introduces another level of debate on the issue of flexibility and uniformity. Apart from the factRead MoreInternational Financial Reporting Standards On The Workplace Essay1740 Words   |  7 PagesIt is incontestable that international financial reporting standards (IFRS) are in vogue and global conformity theoretically on the doorstep as about 100 countries implement standard financial regulations. The idea that uniform reporting standards have the same effect on financial reporting undervalues the contested ability to be flexible in financial reporting and introduces another level of debate on the issue of flexibility and uniformity. Apart from the fact that the merits of flexibility areRead MoreThe International Accounting Standards Boards1653 Words   |  7 PagesA (a)On 1 January 2005,all the stock exchange listed companies in Europe adopted the International Financial Reporting Standards (IFRS) written by the international Accounting Standards Boards. According to IASB, the setting body of IFRS, their primary objective is to develop a set of high quality, transparent ,understandable, global accepted financial standards in the public interest (IFRS 2015) . Furthermore, the statement made by European Commission also explained the benefits including the eliminationRead MoreFair-Value Accounting and the Financial Crisis Essay1081 Words   |  5 PagesFair-Value Accounting (FVA) standard. It is, however, my stand that accounting is not the root cause of the financial crisis. I argue that the mixed-attribute model prompted considerable accounting-motivated structures. And due to the selective application of FVA, it did not in practice; contribute to the pro-cyclicality of the financial system. Nor would the meltdown have otherwise been avoided und er a different accounting scheme. 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In fact, a large part of the financing of the IASB is contributed by these firmsRead MoreA Positive Theory Of The Determination Of Accounting Standards2011 Words   |  9 Pagesarticle, â€Å"Towards a positive Theory of the determination of accounting standards†, depicting the attitude of the management towards the acceptance and application of accounting standards. The research conducted by the authors was first among many researches that provided the evidences about the theory of positive accounting. In this article they tried to state how corporates get influenced at time of introduction of a new accounting standard. The article written by Ross L. Watts and Jerold L. ZimmermanRead MoreValue Of Equity And Net Income Before And After Mandatory Transiti on From Gaap1501 Words   |  7 Pagestransition offers the opportunity to examine the change from a debt and tax oriented accounting standards to a shareholder oriented accounting standards. Greece was chosen to verify the hypotheses in the research paper as the country provides an example of the changes in the point of view of accounting standards from debt and tax oriented accounting leads to conservatism and profit smoothing while shareholder oriented accounting focus on more value relevant financial statements but leads to greater volatilityRead MoreZeff 19785820 Words   |  24 PagesRISE OF ECONOMIC CONSEQUENCES The impact of accounting reports on decision making may be the most challenging accounting issue of the 1970s. by Stephen A. Zeff Since the 1960s, the American accounting profession has been aware of the increasing influence of outside forces in the standardsetting process. Two parallel developments have marked this trend. First, individuals and groups that had rarely shown any interest in the setting of accounting standards began to intervene actively and powerfully

Monday, December 9, 2019

Integrate Marketing Communications Plan for Hotels - Free Samples

Question: Discuss about the Integrate Marketing Communications Plan for Hotels. Answer: Introduction Integrated marketing communications are an important aspect of the marketing strategy of any national or international business. It covers the entire process of communicating with stakeholders at large to fulfill the marketing objectives of the company (Belch, Belch, Kerr Powell, 2014). This assists the firms in enhancing brand awareness and setting the correct brand positioning of the business. This report throws light on the integrated marketing communication or IMC plan for Mermaid hotels and resorts. Mermaid Hotels Resorts (MHR) group comprises of high quality resorts with an upcoming property within the Indonesian archipelago in an island Lombok. The resort is located to the east of Bali and is equipped with the capacity of 220 rooms. The rooms are both island as well as ocean facing with luxurious infrastructural design and state of the art facilities. It is crucial to market the resort to the target customers in an innovative fashion in order to survive competition. This report has paid specific attention to analyzing the target market as well as a designing and defining detailed marketing strategies that are expected to fulfill the sales objectives of the resort. Situation Analysis The situation analysis utilises both internal and external environment information to understand and determine the current position for Mermaids Hotel and Resort and how we fit into the new market we are about to enter. It helps the organisation to determine what is to be done for a better positioning and what potential risks it should overcome, in order to achieve its goals. In such, the company's internal environment (strengths, weaknesses, and external environment), opportunities and threats, are identified. In other words, the SWOT analysis will be utilized. The external environment entails elements outside of the organisation that they could not control (Marketing Solutions, n.d.). Internal environment - Strengths are the positive and engaging aspect which draw the consumers attention and commitment. The weaknesses of an organisation is the disadvantage the company has to its competitors. Internal Strengths Weaknesses - Range of facilities and activities to choose from at the resort - Internationally established (Hawaii, Australia, Fiji, South-East Asia French Polynesia, New Caledonia, Vanuatu) - Loyalty club for frequent guests: point system that allows for guest to redeem for offers and even free accomodations) - Limousine pick ups from ferry terminals in Lombok - New entrant to the market (not well-known like some other competitors) - Amount of land space - Up against a large number of competitors on a small scale and less commercialized island - Rephrase: new environments call for different managing ways-gonna be some inefficiencies that need to be worked out. External environment - Opportunities are occurence of events in the market that allows for the organisation to better its products and/or services, thus allowing for enhancement in their performance and achieving their goals more accurately. On the other hand, threats are obstacles that undermines the company's ability to perform well and is out of their control. External Opportunities Threats - Expansion into Lombok, Indonesia (huge market for tourism) - Increase in brand image and reputation - Newly-established partnerships with local businesses in the region - Less commercialized (as compared to Bali: ability to expand influence) - Competitive market (number of well-established competitors already exist in the market) - Less commercialized (as compared to Bali: less tourist) - Adaptation risk: service expectations may differ across regions Target Market Target market of a business is the set of customers it wishes to service in order to generate sales. The resort stay as well as membership is premium priced and hence it becomes imperative that the target market involves people who can afford the luxury (Price, 2017). In order to define the target market for any business, it is first imperative to divide the market into appropriate segments. The various segments that could be effectively targeted by Mermaid resorts are as below: Demographic: Demographically, business people who travel frequently for work can be targeted by the resort. Owing to the excellent facilities of child care, families with children can be targeted. Psychographic or lifestyle: Premium pricing of the hotel, makes it advisable to target higher income groups of the country. Large level societal clubs can be reached out to conduct their events and meetings. International tourists as well could be targeted to plan their stay with Mermaid resorts. Geographic: The primary target would be the people in Singapore. Behavioral: This segment divides people on the basis of their knowledge about the product. Hence, a brand loyalty program could enable Mermaid resorts to target previous customers. The resort must focus on marketing to the higher income segments of the society especially tourist, families and couples. Corporates could be targeted to utilize the conference rooms. Tie ups with event management firms would garner more crowd for local events. Most couples who are newlywed and travelling for their honeymoons plan lavish vacations and hence they would be an ideal market for the resorts. A lot of high level business executives travel to Lombok and prefer to stay within the top class resorts. These corporate executives could be targeted for the loyalty programs of MHR. The facility of water slides as well as childrens clubs could be leveraged to target families with young children. The parents could conveniently relax or even bring their children along when they are travelling for work. The locals of the island could be offered a premium membership of the health and fitness club. This would serve two purposes, firstly it would increase the footfall at the resort and secondly the tourists could converse with the locals and enhance their knowledge about the island. Determination of the IMC Objectives In this session, the IMC objective to be accomplished in the first year will be clearly define. Sales objective and communication objective will be discussed in detail. Sales objectives What are you going to achieve in $ and cent value? With a budget of 2.1million dollars, be more specific on sales objective. If we sell so and so many rooms, how much do we get in return? 60% on social media advertisements, and we are expecting to attract 10,000 people = 35,000 bookings, so $1.26millions (1 260 000) advertisement minus the income from the bookings = return. Asset. Cash. Money. Income. As the report mention before the Lombok resort will be located on the west coast of the island at Senggigi Beach. It is also the largest hotel property around Senggigi Beach area. The resort will possess 220 rooms. And there will be 115 of the rooms are classified as Ocean View, and 105 rooms classified as Island View. The standard price for a one-bedroom Ocean View room is to be set at US$225 per couple per night. Meanwhile, the standard price for a one-bedroom Island View room is slightly cheaper at US$185 per night. On the other hand, there are 70 of the resort rooms will consist of two bedrooms and 150 resort rooms will consist of one bedroom. The standard price for the two-bedroom Ocean View rooms will be US$325 per night. The standard price for the two-bedroom Island View rooms will be US$285 per night. Besides that, for additional guest, the surcharge of $30 per night per person will be required. The sales objective of the first year of Lombok resort is to generate 35,000 book ing night in total. Therefore, the target revenue for the first year would be around US$8,925,000. For advertising, there will have 40 percent of our budgets goes to 1,260,000. Communication objective Whats our brand image and awareness? How many % do we want to receive? The name of a business can be key of brand image and brand awareness. The name of the hotel is Mermaid Hotel Resort (MHR) which makes people associate with the ocean because mermaid is from ocean. This name also easy distinguish with other hotel in the market. This hotel will also use advertising to attract people through both traditional and new media mainly focus on Singapore market. On the other hand, it is vital to getting staffs of the hotel moving in the same direction to achieve a common goal. In the end, developing brand recognition and brand awareness such as top of mind is also one of our communication objective. Creative Approach Choosing the right way to communicate messages is vital as to how well the organisation will be able to connect with its consumers. Whats more is that the message has to be distinctive, creative, and and able to leave a strong impression besides conveying its main objectives. Message consistency is also important in what the organisation promises and its actions towards consumers - consistency provides assurance and aids in the confirmations of what users might say about the product and company (Duncan, 2005). Message Strategy: Positioning Due to the competitive market in Indonesia, it is critical for Mermaids Hotel and Resort to establish a differentiated position in the consumers mind (Eckerson, 2016). In encoding of the message strategy, Mermaids Hotel and Resort (MHR) has to first understand the strategic triad - finding the connection between the consumer, product/service, and competition. Firstly, understanding the functional aspect of the facilities and MHR itself will answer an important question: why and when would consumer utilise? Secondly, assessing the saturation of the market in Lombok and knowing its competitors. Lastly, analyzing of the targeted audience and market segment to understand their needs and wants. Having knowledge of these three elements is crucial for MHR to successfully establish itself in a foreign market. Mermaids Hotel and Resort message strategy involves the use of positioning strategy where it establishes a differentiated position in its consumers minds versus its competitors. Thus, MHRs message strategy statement will utilise the positioning approach to achieve its IMC objectives. Building on its internationally inaugurated hospitality company foundation, top-notch services and amenities will be provided at higher than competitive prices. The message strategy statement will be paired with a slogan paradise awaits you across all marketing platforms along with the imagery execution technique to achieve consistency. Type of Appeal to be implemented: Emotional Appeal Mermaids Hotel and Resort will execute the emotional appeal, which will essentially focus on the social and psychological needs of prospective guests when conveying the company's messages. The approach and appeal used to attract the attention of consumers forms the underlying content of the message. As such, the execution technique - imagery - is the step in which the appeal becomes an advertisement (Weilbacher, 1984). In reference to the AIDA model, the execution technique will be put to work towards achieving the IMC objectives by attaining prospective guest awareness, interest, desire, and action. The combination of all there components creates a system of codependency, where customers require the one objective to be fulfilled before moving on to the next (Eagle, 2013). In this case, the imagery technique will be used by focusing on visual elements like pictures, illustrations and symbols. An emotional appeal in advertising also means more emphasis on persuading guests with imaginable and accurate illustrations about Mermaids Hotel and Resort. With that, the source has to be credible and information has to be trustworthy (McGraw, 2007). Lastly, using an imagery technique as an execution technique will allow us to give potential guests the final push and encouragement to undertake action - making a booking with MHR - and go on a well-deserved holiday. Another option would be integrating testimonial and endorsement. It allows customers to be able to relate to their favorite celebrity by visiting the same places frequented by celebrities.This will aid in pushing potential guests from being interested to executing the action. However, it must be highlighted in the IMC plan that imagery technique will take precedence over testimonials due to the small customer base and funding constraints of a newly introduced market. IMC Options In order to formulate a marketing plan, it is imperative to consider the effectiveness of various IMC options. These options include digital marketing, social media marketing, affiliate marketing, outdoor marketing and even celebrity endorsements. These are all channels through which any organization can market their products in order to reach out to a target market. Few of these channels are explained as below: Outdoor advertising Once a tourist enters Lombok it is essential that they become instantly aware about the existence of MHR in the area. This is why outdoor marketing in the form of billboards or hoardings across the island must create a buzz. It is important that the hoardings are creatively designed to garner attention of people. For this purpose, MHR must hire an efficient advertising agency. Every billboard has a rating known as Gross ratings point. This is based on traffic, visibility, location and size of the billboard (Fortenberry McGoldrick, 2015). MHR must ensure a higher rating as compared to its competitors as this will evidence a higher number of people crossing the billboard on a daily basis. Digital Marketing This is one of the most important forms of marketing especially in the highly globalized and digitized world that we live in. Digital marketing involves two critical processes which are search engine optimization and search engine marketing (Ryan, 2016). These assist people in easily searching about the resort and the marketing the resort through search engines like Google, Yahoo and Bing (Ledford, 2015). This is specifically crucial for the resort because most of the target customers are tourists. The first thing that tourists do is search their travel plan online. At this stage itself, if MHR can make an impression and mark their presence on the island, then the possibility of people booking the MHR resort increases drastically. Television Advertisements Television advertisements are the most traditional methods of promoting any product to a wide audience groups. The television advertisements must be creatively designed and effectively timed in order to ensure a large viewership. Mermaid resorts must target their family audience with these advertisements. Therefore it is important that the ads are designed in a manner which is suitable for that particular audience. These advertisements must be featured in leading channels of TV which are largely followed and have a strong viewership. Television advertisements may or may not include celebrity endorsements, depending upon the budget demands by various celebrities. Affiliate marketing Tied up with various travel agencies and online portals would assist is gaining traffic on the website. Affiliate market involves performance based marketing where the resorts will reward all the affiliates through which customers can reach out to the resort (Gregori, Daniele Altinay, 2014). This would encourage local travel agents as well as online hotel and flight portals to recommend MHR to their consumers. Social media marketing Social media marketing will involve effective marketing using online platforms such as Facebook, Instagram, Snapchat, Twitter or Pinterest (Tuten Solomon, 2017). This would be successful as the resort already has a strong brand name and a history of over 25 years in the business. MHR could share pictures of the hotel rooms on Pinterest and Instagram. On the other hand, customer attraction, engaging and communication could be conducted using Facebook tags and Twitter hash tags. Social listening forms a very important part of social media marketing. This involves the procedure of being aware about what is being spoken about the brand at all times (Lieberman, 2014). The marketers must make sure that twitter and Facebook mentions are taken seriously, grievances are immediately addressed and compliments are positively reverted Integrated marketing plan for one year For the next one year, the IMC objective for Mermaid hotels and resorts is to generate a total of at least 10,000 bookings in the first year of its business. The average length of stay must be 3.5 night. That makes it a total of 35,000 booking nights in the year. It is also important that the IMC campaign fulfills the objective of creating a positive brand image and enhances brand awareness of the resort. This calls for the need of an elaborate marketing plan. The strategy of the marketing process would be to ensure that the service marketing is offered as a premium service available exclusively to a niche class of society who can afford the luxurious lifestyle offered by the resorts. The brand positioning is absolutely clear throughout the promotional campaign and no discrepancy shall be observed on the same. Since the level of competition is high and most other players are competing on price, it is important that MHR retorts to a differentiated strategy and offers top class services at a higher price. This is known as premium positioning of a product (Armstrong, Kotler, Harker Brennan, 2015). It is crucial for any business to clarify how many people they wish to target through different IMC options mentioned above. The number of people that a particular channel can reach out to is the reach of that channel. The number of people that are expected to buy the product after coming across an advertisement of the product is known as exposure. It is important for any business to analyze their targeted reach and exposure while making a marketing plan. The exposure and reach of our select IMC channels are as given below: IMC Channel and amount of budget in USD $ Targeted audience Reach Exposure Social media $ Millennials, generation Z and young couples 70,000 people per Facebook post 80,000 people per Instagram post 10,000 people on review websites such as TripAdvisor and Yelp! 150 people from Facebook 200 people from Instagram 1000 people from review websites Digital marketing - Booking websites $ People who voluntarily search for holiday destinations E.g. Hotels.com, Booking.com etc. Over 20000 people would search for resorts in Lombok in a month Approximately 50% exposure. Highest exposure id through this channel. Over 7,000 people will make a booking. Travel agency $ 10,000 people using travel agency 1 300 bookings Others Advice from friends and families, some booking is attract by its own website ect. Action Plan The number of times that a particular brand wants its customers to see their advert is known as frequency. Establishing a target frequency enhances the chances of the consumers looking at the advert and hence the chances of them buying the product increases. This frequency must be well calculated. Too low a frequency would reduce brand awareness and give others a competitive advantage. Very high frequency of the ads would appear as some form of spamming and adversely impact the brand reputation and positioning of the resort. A very high frequency makes viewers lose interest in the advertisement and hence the brand. IMC Channel Frequency Social Media 8 Facebook posts a day. 20 Tweets a day (4 tweets between 8am to 3pm, 12 tweets between 3pm to 10pm and 6 tweets from 10pm to 4am) 4 instagram posts a day 2 posts on Pinterest a day Going live on Instagram and facebook once in every three days Television advertisements Ad must be shown 12 times a day on 8 leading channels of the country. Out of 12, 5 ads must be shown between 6pm to 10pm Tentative Budget In the span of one year it is important the brand awareness is created and the positioning of the resort is perfect in the minds of its consumers. Therefore it is crucial to have set targets for all the channels of the IMC plan. The response and the effective of each channel will result in a different target of consumers at different stages, which is why all the channels must be equally catered to and effectively utilized to reach out to a larger consumer base (Luxton, Reid Mavondo, 2015). IMC channel Target Approximate Budget allocated ($1000) Billboards 1. Total 472 billboards in the island (Total area of the island is 4725km square) 2. Change billboard design every 2 months. 700 Travel agency tie ups Tie up with the 10 leading travel agencies of Lombok as well as 5 leading agencies of Bali. 300 Facebook 20k followers and over 1095 posts (365*8). 2920 Instagram 10k followers and over (365*4) 1825 Twitter At least 50k followers and over 1825 (365*20) tweets. 7300 The targeted customer segment can be catered to using these integrated marketing channels. These channels are widely used. However, in order to sustain the efficiency of these channels and ensuring best turnout, it is imperative that the plan is being followed sincerely. The number of Facebook posts and twitter mentions should be maintained. If not, the resort will risk its customers losing interest or even face a reduction in the overall brand awareness of the resort. Outdoor advertising Once a tourist enters Lombok it is essential that they become instantly aware about the existence of MHR in the area. Which is why outdoor marketing in the form of billboards or hoardings across the island must create a buzz. It is important that the hoardings are creatively designed to garner attention of people. For this purpose, MHR must hire an efficient advertising agency. Every billboard has a rating known as Gross ratings point. This is based on traffic, visibility, location and size of the billboard (Fortenberry McGoldrick, 2015). MHR must ensure a higher rating as compared to its competitors as this will evidence a higher number of people crossing the billboard on a daily basis. Digital Marketing This is one of the most important forms of marketing especially in the highly globalized and digitized world that we live in. Digital marketing involves two critical processes which are search engine optimization and search engine marketing (Ryan, 2016). These assist people in easily searching about the resort and the marketing the resort through search engines like Google, Yahoo and Bing (Ledford, 2015). This is specifically crucial for the resort because most of the target customers are tourists. The first thing that tourists do it search their travel plan online. And at this stage itself if MHR can make an impression and mark their presence on the island then the possibility of people booking the MHR resort increases drastically. Affiliate marketing Tie ups with various travel agencies and online portals would assist is gaining traffic on the website. Affiliate market involves a performance based marketing where the resorts will reward all the affiliates through which customers can reach out to the resort (Gregori, Daniele Altinay, 2014). This would encourage local travel agents as well as online hotel and flight portals to recommend MHR to their consumers. Social media marketing Social media marketing will involve effective marketing using online platforms such as Facebook, Instagram, Snapchat, Twitter or Pinterest (Tuten Solomon, 2017). This would be successful as the resort already has a strong brand name and a history of over 25 years in the business. MHR could share pictures of the hotel rooms on Pinterest and Instagram. Whereas customer attraction, engaging and communication could be conducted using Facebook tags and Twitter hashtags. Social listening forms a very important part of social media marketing. This involves the procedure of being aware about what is being spoken about the brand at all times (Lieberman, 2014). The marketers must make sure that twitter and Facebook mentions are taken seriously, grievances are immediately addressed and compliments are positively reverted to. Tentative Budget In the span of one year it is important the brand awareness is created and the positioning of the resort is perfect in the minds of its consumers. Therefore it is crucial to have set targets for all the channels of the IMC plan. The response and the effective of each channel will result in a different target of consumers at different stages, which is why all the channels must be equally catered to and effectively utilized to reach out to a larger consumer base (Luxton, Reid Mavondo, 2015). IMC channel Target Approximate Budget allocated ($1000) Billboards 1. Total 472 billboards in the island (Total area of the island is 4725km square) 2. Change billboard design every 2 months. 700 Travel agency tie ups Tie up with the 10 leading travel agencies of Lombok as well as 5 leading agencies of Bali. 300 Facebook 20k followers and over 1095 posts (365*3). 350 Instagram 10k followers and over 400 posts 200 Twitter At least 50k followers and over 1825 (365*5) tweets. 450 Monitoring and Evaluation of Program Monitoring and Evaluation (ME) of program is important to develop before starting on any monitoring activities in order to clear a plan for u References Duncan, T. (2005). Principles of Advertising IMC. Chicago, IL: McGraw-Hill/Irwin. Chicago (Author-Date, 15th ed). Eagle, L., Dahl, S., Hill, S., Bird, S., Spotswood, F., Tapp, A. (2013). In Social Marketing. Harlow, United Kingdom: Pearson Education Limited. Eckerson. (2016). Message Strategy. Retrieved from: https://www.eckerson.com/articles/why-your-message-strategy-is-so-important Marketing Solutions. (n.d.). The situation: Situational analysis. Retrieved from https://vwmarketingsolutions.ca/wp-content/uploads/2015/12/Chapter-4-The-Situation-Situational-Analysis.pdf Weilbacher, W. (1984). Journal of Advertising. New York, NY: Macmillan Publishing Company. 14:4. Has to be on the same level as Recommended IMC. Use this as template IMC objectives, not marketing plan

Monday, December 2, 2019

The Wild West in the 1800s Essay Example For Students

The Wild West in the 1800s Essay Sanitary conditions in the West were practically non-existent. In the cities, horse manure covered the streets. Housewives emptied garbage, dishwater, and chamber pots into the middle of the city streets where free-roaming pigs devoured the waste. The pigs left their urine and feces on the streets. It was not easy to wash clothes. Many people had clothes splattered with manure, mud, sweat, and tobacco juice. Privies, or necessary houses were often to close to the homes with a very noticeable odor on hot and/or windy days. If a family had a kitchen, all the members washed at the sink each day, without soap, rubbing the dirt off with a coarse towel. Eventually, many cold bedrooms had a basin, ewer (pitcher), cup, and cupboard chamber pot. Bed bugs and fleas covered many of the travelers beds. Isaac Weld saw filthy beds swarming with bugs. These insects followed the travelers, crawling on their clothes and skin. Alcohol consumption was at an all time high at the late 1820s. Elbridge Boy den, architect and builder, said that alcohol was used as commonly as the food we ate. It was a symbol of hospitality and fellowship. Drinking and fighting (a knock-down) went together. The violent fights involved gouging, in which a person looses an eye. We will write a custom essay on The Wild West in the 1800s specifically for you for only $16.38 $13.9/page Order now Early America was sexually active. One third of the brides were pregnant on their wedding day. Sexual relations were a part of courtship. Bundling was the custom that allowed couples to sleep on the same bed without undressing. Erastus Worthington, a local historian, noticed the custom in 1828, of females admitting young men to their beds, who sought their company in marriage. In large cities, prostitution became more common and was priced according to location. Tobacco usage was wide spread because it was cheap, homegrown, and duty free. Short, thick, clay pipes were used, although snuff and powdered tobacco were inhaled. Longer and slimmer stems on pipes appeared. Cigars or segars from the Caribbean were smoked to show off. These cost three cents each. The most disgusting habits were chewing and spitting. Spittoons were provided, but mostly ignored. The floors of public buildings and courthouses were decorated by a mass of abomination.Yes, the West was wild, but also dirty and disgusting. Everything you need to know about american history: Page 60 35