Brand Analysis of the Body Shop Assignment Example | Topics and Well Written Essays - 3000 words

Brand Analysis of the Body Shop - Assignment Example Due to such activities the company has been able to position its brand in a better way in comparison to its competitors. The brand characteristics with regard to the products were found to have greatly influenced the customers purchasing decisions for the products which have enabled the company to demand premium price for its products. Table of Contents Executive Summary 2 Table of Contents 3 Brand Positioning and Values 6 Against Animal Testing 8 Support Community Fair Trade 8 Activate Self Esteem 8 Defend Human Rights 9 Protect the Planet 9 Brand Characteristics 10 Customers Benefits 11 Brand Community 12 Brand Equity 13 Conclusion 15 Reflection 16 References 17 Bibliography 19 Introduction The report would attempt to deal with â€Å"The Body Shop† values and its impacts on brand development. The Body Shop was first established by Antia Roddick in the year 1976 as one small shop in Brighton, England for selling beauty products. The company started its business with 25 produc ts that were created with natural ingredients. It was able to attain rapid growth and expand itself in the European market as well as internationally inspite of pursuing the strategy of â€Å"no money spent on advertising†. ... The company mainly produces toiletries and cosmetic products internationally. It offers a wide assortment of beauty products such as body gels and oils, make up products, moisturizers baby care products, hair care products, massage products, skincare products, bath and body products and even fragrances (Carlson, 2011). The products are made from natural ingredients which are supposed to be ethical and environmental friendly such as banana shampoo and coconut milk body lotions. The company primarily aims at combining activism with marketing and encourages women to concentrate on self-esteem along with environmental and social causes. The company strongly criticizes the idea of testing products on animals and ensures that the ingredients used in its prod ucts have not been tested on animals in any possible way. In addition to this, the company also restricts the use of harmful chemicals in the form of ingredients for its products. Furthermore, it believes in the principle of producing eco-friendly products and wishes to establish its identity as an eco-conscious company. The company sells its products both through online and established shopping houses. The company strives to ensure greater degree of cooperation from its suppliers in order to boost its innovations for the development of new and ethical products. The company has been able to retain its customers even after it was taken over by the L’Oreal Company in 2006 (Carlson, 2011). The company’s aim always has been to expand its business by satisfying its customers’ needs with natural and ethical products. It further emphasizes to deliver superior quality beauty products at affordable prices to its loyal customers in contrast to its existing competitors (Fi tness Health, 2012).

Sexual Economics Essay Example for Free

Sexual Economics Essay Abstract A heterosexual community can be analyzed as a marketplace in which men seek to acquire sex from women by offering other resources in exchange. Societies will therefore define gender roles as if women are sellers and men buyers of sex. Societies will endow female sexuality, but not male sexuality, with value (as in virginity, fidelity, chastity). The sexual activities of different couples are loosely interrelated by a marketplace, instead of being fully separate or private, and each couples decisions may be influenced by market conditions. Economic principles suggest that the price of sex will depend on supply and demand, competition among sellers, variations in product, collusion among sellers, and other factors. Research findings show gender asymmetries (reflecting the complementary economic roles) in prostitution, courtship, infidelity and divorce, female competition, the sexual revolution and changing norms, unequal status between partners, cultural suppression of female sexuality, abusive relationships, rape, and sexual attitudes. Sexual activity is often regarded as among the most private of activities, negotiated by two individuals on the basis of their own individual desires and values. Idealistic treatments describe the two individuals as potentially equal and interchangeable. In this manuscript, we place sexual negotiations in the context of a cultural system in which men and women play different roles resembling buyer and seller — in a marketplace that is ineluctably affected by the exchanges between other buyers and sellers. In recent decades, two main theoretical approaches have dominated the field of sexuality. One of these emphasizes biological determinants, especially as shaped by evolutionary pressures. The other emphasizes social construction, especially as shaped by political forces. Both have proposed to explain differences between men and women. The evolutionary approach stresses the different reproductive strategies of men and women and the difference as to what pattern of sexual respon se would have led to the highest quality and number of successful offspring. The social constructionist approach, generally based on feminist theory, has emphasized male subjugation of women and how women respond to their oppressed position in society. Thus, the disciplines of biology and politics have been most prominent in guiding how psychologists think about sex. This article turns to a different discipline, namely economics, in order to elucidate a theory of sexual interactions. An economic approach to human behavior was defined by (subsequent) Nobel laureate Gary Becker (1976) as having four main assumptions. First, the behavior of individuals is interconnected in market systems in which individual choices are shaped by costs and benefits in the context of stable preferences. Second, scarce but desirable resources are allocated by price shifts and other market influences. Third, sellers of goods or services compete with each other (as buyers also sometimes do, but not as much). Fourth, people seek to maximize their outcomes. Although initially economists focused on material goods and material needs, many have begun to look at nonmaterial goods (such as services) and nonmonetary media of exchange (such as time or emotion). In adopting such an approach, our theory will therefore be primarily cultural in the sense that it looks at how individual behavior is shaped by the market and other aspects of the collective network, but just as economic exchange is based on what nature has shaped people to want and need, natural motivations and tendencies will provide a foundation for the sexual economy. Although applying economic principles to sex may seem novel, psychology has invoked economic theories in other contexts. Social exchange theory has been used to analyze a broad range of social interactions (e.g., Blau, 1964; Homans, 1950, 1961; Sprecher, 1998), based on the assumption that each party in an interaction gives something and gets something in return. Analyzing the costs and benefits of various interpersonal behavior furnishes a useful basis for making predictions about how people will think, feel, and choose to act. In our view, previous attempts to apply social exchange theory to sex have neglected one crucial aspect, which will be featured in this manuscript. Specifically, sex is a female resource. Put another way, cultural systems will tend to endow female sexuality with value, whereas male sexuality is treated by society as relatively worthless. As a result, sexual intercourse by itself is not an equal exchange, but rather an instance of the man getting something of value from the woman. To make the exchange equal, the man must give her something else in return, and his own sexual participation does not have enough value to constitute this. How much he gives her in terms of nonsexual resources will depend on the price (so to speak) set by the local culture and on her relative standing on valued sexual characteristics (see Table 1). When sex happens, therefore, it will often be in a context in which the man gives the woman material gifts, consideration and respect, commitment to a relationship as desired by her, or other goods. There are two main parts to this manuscript. The first will consist of an extended exposition of the theory. We shall attempt to develop and elaborate the economic analysis of sex from an exchange perspective as thoroughly as we can, even extending to aspects and predictions that are not fully testable against extant data. The second section will then review published empirical findings about many patterns of sexual behavior, as a way of evaluating the exchange theory’s capacity to account for what is known. Social Exchange and Female Resource Theory Social exchange theory analyzes interactions between two parties by examining the costs and benefits to each. Interactions are only likely to continue if each party gains more than it loses. Crucially, the exchange analysis assumes that in each social interaction each person gives something to the other and gains something from the other (hence the exchange). The value of what is gained and exchanged depends in part on the preferences of the individuals and in part on the broader market. By applying economic principles to social rewards, one can make predictions about how social behavior will proceed. How much someone pays for a banana, for example, depends partly on that person’s hunger and liking for bananas, but also partly on the shifting balance between the local community’s supply of bananas and its demand for them. The central point to our social exchange analysis of sex is that sex is essentially a female resource. When a man and a woman have sex, therefore, the woman is giving something of value to the man. In that sense, the interaction is one-sided — unless the man gives the woman something else of comparable value. Although the social exchange analysis will invoke a social system to explain sex and is therefore essentially a cultural theory, ironically its most famous advocate came from evolutionary theory (although Cott, 1977, developed a similar line of analysis in a feminist historical context). Symons (1979) observed that â€Å"Everywhere sex is understood to be something females have that males want† (p. 253). By â€Å"everywhere† he meant in all cultures and historical eras, although to be sure he only presented observations from a handful of these. Indeed, he offered relatively little in the way of empirical evidence for his theory, a deficiency that the present article seeks to remedy (aided by the substantial amount of empirical data on sex that have been produced in the decades since Symons’ book was published). Symons also did not find it useful to consider how economic theory might elaborate his basic observation. Nonetheless, his work deserves recognition for h aving put forth the observation that sex is essentially something that women provide and men desire. Although not many others have explicitly discussed sex as a female resource, we believe that that view is implicit, though often unstated, in many writings. For example, James Q. Wilson (2001) has recently published a widely influential sociological analysis of the decline of marriage in Western cultures, in the course of which he found it necessary to invoke unsupported assumptions such as â€Å"If the culture offers sexual access and does not require in exchange personal commitment, a lot of men will take the sex every time† (p. 15; although no sources or evidence were cited to back up this assertion). Later he speculated that if the government wanted to make marriages more durable, the most effective policy intervention would be to require that fathers retain custody of children after divorce, because this would reduce the men’s ability to attract new sex partners — the implicit assumption being that divorces are caused because husbands but not wives leave their spouses in order to gain access to new, more exciting sex partners. In effect, this policy would reduce what the divorcing husband could offer another woman in exchange for sex. Thus, again, the view of sex as a female resource was implicit in his reasoning, but he did not have any scholarly basis for evaluating that view. Our hope is that an open statement and appraisal of the female resource theory of sexual economy can enable such analyses to have a strong, explicit basis in research findings, including frank recognition of its limitations — and we think that would be preferable to relying on impres sions and stereotypes, as many writers currently must. Sex as Female Resource A consideration of the cultural economy of sex goes beyond the simple recognition that men want sex from women. Insofar as that is generally true, the social network will recognize it and organize the behavior of individuals and couples on that basis. Treating sex as a female resource means that each culture (we define culture as an informationbased social system) will endow female sexuality with value, unlike male sexuality. Women will receive other valued goods in return for their sexual favors. Male sexuality, in contrast, cannot be exchanged for other goods. Put another way, women become the suppliers of sex, whereas men constitute the demand for it and play the role of purchasers and consumers. Even though in one sense a man and a woman who are having sexual intercourse are both doing similar things, socially they are doing quite different things. Thus, the first prediction based on the social exchange theory of sex is that interpersonal processes associated with sexual behavior will reveal a fundamental difference in gender roles. Men will offer women other resources in exchange for sex, but women will not give men resources for sex (except perhaps in highly unusual circumstances). In any event, the bottom line is that sexual activity by females has exchange value, whereas male sexuality does not. Female virginity, chastity, fidelity, virtuous reputation, and similar indicators will have positive values that will be mostly absent in the male (see Table 1). Put another way, it will matter more to the formation and continuation of a relationship whether the woman is a virgin than whether the man is; whether the woman engages in sex with another partner than whether the man does; and so forth. Why a Female Resource? Why would sex be a female resource? Symons’s (1979) original answer focused on reproductive strategies shaped by evolution as the ultimate cause. In his account, the minimal male investment in parenthood is almost zero, whereas for a woman it is substantial. Therefore, he proposed, sex for a man is all benefit with little or no cost, whereas for a woman the potential cost (possible pregnancy, with pain and possibly death attending childbirth) is substantial even if the pleasure is quite high. The risk of high cost will be an incentive for the woman to hold back, and so the man must offer her some benefits to offset this. However, Symons also acknowledged (p. 261) that human beings do not necessarily care about these ultimate causes, and so the immediate psychological factors that lead people to treat sex as a medium of exchange require further explanation. A somewhat different explanation for why sex is a female resource can be deduced from motivational differences. Social exchange theory has featured the â€Å"principle of least interest† (Waller Hill, 1951). According to that principle, a party gains power by virtue of wanting a connection less than the other wants it. For example, Waller and Hill proposed that the person who is less in love has more power to shape and influence the relationship, because the one who is more in love will be more willing to make compromises and offer other inducements in order to keep the relationship going. If men want sex more than women, therefore, men would have to offer other benefits to persuade women to have sex, even if women desire and enjoy sex too. Is it plausible that men desire sex more than women? A literature review recently examined the question of gender differences in sex drive by comparing men and women on behavioral indices of sex drive (Baumeister, Catanese, Vohs, 2001). On every measure, men were found to display greater sexual motivation than women. Specifically, men think about sex more often, have more frequent fantasies, are more frequently aroused, desire sex more often (both early and late in relationships, and outside of relationships), desire a higher number of sex partners, masturbate more frequently, are less willing to forego sex and are less successful at celibacy (even when celibacy is supported by personal religious commitments), enjoy a greater variety of sexual practices, take more risks and expend more resources to obtain sex, initiate more goal directed behavior to get sex, refuse sex less often, commence sexual activity sooner after puberty, have more permissive and positive attitudes toward most sexual behaviors, are less prone to report a lack of sexual desire, and rate their sex drives as stronger than women. No findings indicated that women had a stronger sex drive than men on any measure. Although certainly there are some women with high sex drives and some men with relatively low ones, these are exceptions, and moreover these exceptional types do not appear to form mismatched couples very often. Byers and Lewis (1988) found that half the couples in their large sample disagreed about sex at least once a month, and without exception all of the disagreements involved the man wanting sexual activity while the woman did not. Likewise, a large sample of couples studied by McCabe (1987) found that the category of partnered individuals who wanted sex but were not having it (â€Å"reluctant virgins†) consisted almost entirely of men. Thus, the sexual negotiations of couples appear to center around the men’s efforts to induce the women to have sex, and not the reverse. The gender difference in sex drive applies both to new and established relationships. Therefore the principle of least interest might predict that men would continue to give resources for sex throughout the relationship. Within established relationships, however, the rules of exchange may be blurred by several factors. In modern marriage, for example, resources are generally jointly owned by both couples, and so the woman already technically has claim to all her husband’s resources. This limits what more he can offer her, thereby removing the basis for exchange or negotiation. Possibly her role is simply to give him enough sex to sustain the marriage. The exchange may also be concealed or complicated by other aspects of long-term marriage, such as declining sex appeal with aging, and the reduced freedom of both spouses to seek other partners and thereby ensure that they get full market value. A last perspective on why sex is a female resource would invoke the economic subjugation of women in society. In hunter-gatherer and subsistence farming societies, men and women already had separate roles and spheres of activity, both of which made vital contributions to survival. The development of a broader sphere of economic and political activity occurred mainly from the male sphere, however, and so as wealth and power were created in society, they were created by and owned by men, leaving women at a disadvantage (see Wood Eagly, 2002). Sex was one of the few resources women had with which to barter for access to these new, social resources (and the material resources that often depended on the social resources). The social exchange surrounding sex may therefore be especially associated with cultures and periods in which women lack avenues other than being a supplier of sex for obtaining material and social resources. The Local Sexual Marketplace Most theories of sex have acknowledged that local norms exist to guide behavior, and even that people are curious to learn about the sex acts of others as a way of learning what those norms are. The exchange theory endows those norms with much greater power and importance, however. One crucial feature of the social exchange analysis is that all the sexual activities within a community are loosely interconnected as part of a sexual marketplace. Sex is therefore not entirely a private matter between two consenting adults. Rather, sex becomes part of an economic system, just as the sale of a house is not purely a transaction between two parties but is tied in to the local economy and housing market. Stated this way, our analysis is compatible with recent dynamical systems approaches to gender differences in mate selection. A comprehensive paper emphasizing emergent social norms during mate selection (Kenrick, Li, Butner, 2003) noted that male and female mate selection does not occur in a vacuum but rather that men and women influence each other’s sexual choices. This reciprocal-influences approach is similar to our perspective, in which the local cultural marketplace influences the behavior of individuals, which in turn changes local norms and expectations, which cycle around again to influence individuals’ behavior. Hence in our model, the local culture and the individuals therein affect one another in a recursive fashion. The social exchange analysis emphasizes that sex is a female resource, so that men must offer women other resources in exchange for it. But how much? The price of sex (so to speak) may vary widely. In order to commence a sexual relationship with a particular woman, a man may have to offer her a fancy dinner, or a long series of compliments, or a month of respectful attention, or a lifetime promise to share all his wealth and earnings with her exclusively. This price is negotiated between the two individuals in the context of the prices that other, similar couples set. Sexual norms thus constitute a kind of local going rate as to the appropriate price for sex. Across cultures and across different historical periods, the going rate may vary widely. Within a given community, however, it probably varies much less. Market forces will tend to stabilize this rate within a community (but not necessarily across communities). To illustrate, suppose a particular woman demands too high a price for sex, such as if she refuses to have sex until the man has promised to marry her and has given her an engagement ring. Her suitor may abandon her and turn his attention to another woman – but only if other women in the community will offer sex at a significantly lower price. If all the woman in her community demand an engagement ring before giving sex, however, the man will be more likely to agree. A related prediction is that a low price of sex favors men, whereas a high price favors women. Therefore men will tend to support initiatives that lower the price of sex, whereas women will generally try to support a higher price. Ideologies of â€Å"free love† (that is, sex unaccompanied by any other obligations or exchanges) will appeal to men more than women. The price of sex is not restricted to money, of course. Our broad conceptualization of resources (as money, material gifts, respect, love, time, affection, or commitment) is consistent with arguments that women do not select their sex partners on the basis of material goods alone. A recent analysis (Miller, Putcha, Pederson, 2002) noted that during much of humans’ evolutionary history, people lived in small groups. Typically, a group of men brought back meat for the group and all the meat was shared. Miller et al. argued that this arrangement obscured individual hunting ability, and therefore women could not easily use gifts of material resources as a sign of long-term mate potential. With a broader conceptualization of resources, however, it would still be possible for a woman to detect the desirability of individual men within her community because she could see how much attention, affection, or time each gave to her. In short, we may regard a local sexual marketplace as a loose community in which men and women act as individual agents seeking to find an advantageous deal. Men will act like buyers who want to get good sex or plenty of sex without spending too much (in terms of time, effort, money, or commitment). Women will act like sellers who want to get a high price for their sexual favors. Each couple may negotiate its own price, but whether this price is a better deal for the man or for the woman depends on how it compares to the going rate within their community. Because much sexual activity is conducted in secret, there is likely to be considerable ambiguity about what the actual norms are. Another prediction is therefore that men and women will seek to convey different impressions. Men would be likely to try to create the impression that many couples are having sex at a low price. Women are more likely to emphasize that sex is unusual outside of serious, committed relationships. Male conversation may feature and exaggerate sexual activity, whereas female conversation should conceal and understate sex. Supply and Demand The laws of supply and demand can be substantiated in all sorts of marketplaces, and there is no reason that sex should be an exception. With sex, the female resource hypothesis depicts that women constitute the supply and men constitute the demand. Patterns of sexual activity should change drastically with the balance between supply and demand, such as the sex ratio. When the pool of eligible women (that is, young, unattached female adults) is much larger than the pool of eligible men, supply can be said to exceed demand. The price will therefore drop, which means that men will be able to obtain sex without giving or promising much in return. In contrast, a shortage of eligible women relative to men means that demand outstrips supply, and so the price is likely to be high. Thus, contrary to any simple view that power in the marketplace depends on having a majority, the price of sex will tend to favor the minority gender. More precisely, men will give women more resources for sex when men outnumber women than when women outnumber men. Another common result of shortages of desired goods is that low-cost substitutes become available. Prostitution and pornography may be regarded as low-cost substitutes for the preferred alternative of having sexual relations with a special, desired partner (e.g., Cott, 1977). The economics of the sexual marketplace would suggest that such low-cost alternatives will be targeted for men and to varying degrees will be welcomed by men. In contrast, women should generally oppose them as if they represent a threat to women generally — which they do, in an important sense. Put another way, why should a woman care whether men in her community purchase pornographic materials and masturbate? But if pornography satisfies some of the male demand for sex, then it may reduce the total demand for her own sexual favors, and as a result the price she can obtain will be lower. Assuming that most men would prefer to have sex with affectionate female partners (as opposed to prostitutes or by masturbating while watching pornography), the women in a community would potentially have a monopoly if they could band together to reduce competition among themselves. A rational economic strategy that many monopolies or cartels have pursued is to try to increase the price of their assets by artificially restricting the supply. With sex, this would entail having the women put pressure on each other to exercise sexual restraint and hold out for a high price (such as a commitment to marriage) before engaging in sex. Economic history suggests that such efforts, as in the case of OPEC (Organization of Petroleum Exporting Countries) are only intermittently successful and may often be undermined as individuals seek to underbid each other. Still, monopolies are sometimes sufficiently successful that most developed nations have found it necessary to enact laws against them. It would therefore not be surprising that economic self-interest would occasionally drive women to work together to restrain the availability of sex.

Men and Women: As Interpreted by Deborah Tannen Essay -- essays resear

Did you know, â€Å"men and women talk differently because they are raised in something like two different cultures: a male culture from which young men learn to speak like men and a female culture in which young women learn to speak like women?†(Cooper and MacDonald 9). Well, not actually from two separate cultures, but the idea of men and women being opposites as pointed out in the opening. Deborah Tannen has made her theory that a male culture and female culture each exist, very popular with the human population and has written an extensive book on her theory. To define these communication conundrums, Tannen discusses â€Å"rapport-talk† and â€Å"report-talk†. She defines â€Å"rapport-talk† as â€Å"For most women, the language of conversation is primarily a language of rapport: a way of establishing connections and negotiating relationships† (Cooper and MacDonald 10). Rapport-talk has its strong points focused on showing similarities and matching experiences. Women choose private speaking as the best places for communication. They like small settings and small groups of people that they know well. Tannen uses â€Å"report-talk† to explain how men communicate. â€Å"Report-talk† is â€Å"For most men, talk is primarily a means to preserve independence and negotiate and maintain status in a hierarchical social order† (Cooperand MacDonald 10). Men choose to communicate in public settings, they like to hold center stage by talking as much as possible and to be recognized and acknowledged as h aving a place in th...

Free Essays - Tuesdays With Morrie :: Tuesdays With Morrie Essays

When my parents first told me that it would be a good idea for me to read Tuesdays With Morrie, my perception of the memoir was that it was an account of an old man dying.   This did not seem, to me, to be the most interesting topic to read about.   I reluctantly began the book and soon became quite involved with the novel’s insightful progression.   I initially thought I would construct a typical review of the novel and hand it in for a good grade.   I then asked myself if I would learn anything by writing a summary.   Two answers became evident.   The first was that, of course, I would learn how to write yet another book report.   The second was that I would not benefit at all from simply summarizing the memoir.   I came to the conclusion that by focusing my paper on that which Morrie so eloquently taught the reader, both me and my teacher would gain insight and understanding about living life to it’s fullest.   Morrie’s message was, in short, not to become preoccupied with death and dying, but to live the life that you still have left in a meaningful and rewarding way.   He believed that although death would soon take him, he wanted to teach others and share his ideas so that they could be passed on to future generations.     Mitch Albom is an alumnus of Brandeis University, where Morrie Schwartz taught for many years.   Morrie left a lasting impression on Mitch and that impression is what eventually motivated Mitch to return to his wise professor.   Mitch rediscovered Morrie in the last months of the older man’s life.   Knowing he was dying, Morrie visited with Mitch every Tuesday in his study, just as they had done in college days.   Morrie taught Mitch his final lesson: how to live.   Morrie and Mitch’s relationship went far beyond that of a teacher and student.   It turned into a friendship between two men.   Morrie taught Mitch innumerable lessons about the world, feeling sorry for oneself, regrets, death, family, emotions, fear of aging, money, how love goes on, marriage, culture, forgiveness, and saying good-bye.   Morrie never wanted sympathy from Mitch; only an open mind and heart.   Morrie discussed his philosophies on life with Mitch and encouraged him to do the same.   Morrie shared his strengths and his weaknesses with his student, allowing him to open up to his old professor in a way that would help him to recharge his existing life.

Launching Indian Fast Food in Bulgaria

The country I would choose to launch the Indian Fast Food would be Bulgaria. In order to evaluate the marketing strategy we have to make research and to discover the differences between the Bulgarian and the UK market 1. Fast food in Bulgaria There is a little amount of information regarding the fast food market free on internet. A survey, done by Synovate (Synovate, 2009), shows that the Bulgarians love fast food more than that Americans and the Brits. According to the survey more than 68% of the people in Bulgaria confirm that they like so much the taste of the fast food that they can’t give it up.The survey also shows that there is a real passion for fast food in Bulgaria. Compared to the matured market like US and the UK the Bulgarians still find the quick service restaurants quite trendy and creative. Moreover there is no sign of the consumption to go down. The main players on the market are McDonald’s (since 1994), KFC (since 1994), SubWay (since 2008). In Bulgari a there is difference between the burger and sandwich fast food and the typical Bulgarian fast food, which offers pre-cooked or fast prepared dishes.Typical Bulgarian fast food chains are Happy, Ugo, Divaka. They all are quick service restaurants. And all of the fast food chains international and domestic are experiencing substantial growth during the years. 2. Indian restaurant in Bulgaria The next step is to check the market and the appearance of Indian food in the country. Actually after a short research in the internet I have found just four Indian restaurants Gurkha, Saffron, Kohinoor and Taj Mahal (Inyourpocket, 2012), all of them are in Sofia.Checking the online published menus confirm that the Indian food is expensive and therefore is accepted as exclusive high standard cuisine. 3. Demographic research The third issue is demographic research. Are there any Indian groups living in Bulgaria? In the research done online there are no traces of substantial number Indians living i n Bulgaria. 4. Identifying the differences in the marketing strategy Armed with the research information I would point the first difference from the original projects. The two segments of consumers identified in UK are not applicable in Bulgaria.There is no Indian society and the people are not familiar with the Indian food. A new primary research should be conducted in order to identify and segment the clients. Next- the marketing strategy should be changed to meet those needs. In the UK in terms of consumer value created we are going to meet stated needs by the interviewed potential clients. In Bulgaria we will have to create value by offering completely new cuisine. We need to create hunger for Indian food in the potential clients. We will do it with the mystic of the Indian food offering it at a very good price.So in terms of positioning strategy we will compete mainly with the fast food restaurants offering cooked food and not much with the sandwich and burger fast food. Compet ing with the Indian restaurants will be in the part of food delivery and again targeting the fast food segment we won’t have big difficulties beating them with better prices. Because of the huge demographic differences in the country I do not believe that the service should be offered nationally. I would rather choose between three and four big cities for launching the restaurants.Another interesting spot to open a fast food restaurant is on the highway. The segment targeted will completely differ from the two identified in the UK Market. As potential clients I would point the people practicing Yoga. 5. Identifying differences in the marketing mix Because the product will be completely new for the local clients the menu variety must be easily recognizable. The primary research will give a better idea about the taste of the people and expectations they have. In terms of pricing there is huge difference between the UK and Bulgaria so the prices should be adjusted accordingly.An d again the prices should be in a close competition with the fast food restaurants offering cooked meals. The places for the restaurants are going to differ from those in the UK for example. The reason is that in Bulgaria the train stations are usually used by the people below or around the poverty line. So the locations should be chosen carefully. I would start with one in the city center in Sofia, another in some of the city malls and third in the biggest business park where more than 10Â  000 are working every day.Again changes in the promotions should be made not only to make the clients enter the restaurants but also to make them try the food. A promotion mix should be selected very carefully so to turn every new client into regular one. With having most of the main differences identified I still believe that launching Indian fast food restaurants will be successful. First because the people love it, second because they use it on daily basis, third because the dining out cultu re is highly accepted in the bigger cities.Another reason is that the people use for centuries the Indian species, moreover we love spicy hot dishes, and finally but not least Bulgarians are open to try new things especially when it comes to food. Inyourpocket, 2012. Inyourpocket. [Online] Available at: http://www. inyourpocket. com/Bulgaria/Sofia/Restaurants-and-Cafes/Indian [Accessed 22 11 2012]. Synovate, 2009. Softpedia. [Online] Available at: http://news. softpedia. com/news/Bulgaria-Is-the-Real-Fast-Food-Nation-Study-Reveals-113448. shtml [Accessed 22 11 2012].

EBook Industry and Latest Trends

EBook Industry and Latest Trends Executive Summary As of late eBooks have become a popular medium for publishers and readers alike due to their affordability, easy accessibility and portability since an eBook reader can carry literally hundreds of literary titles while barely weighing a kilo.Advertising We will write a custom coursework sample on EBook Industry and Latest Trends specifically for you for only $16.05 $11/page Learn More Due to the easy way by which new players can enter into the EBooks market this presents an opportunity for enterprising individuals to establish their own unique niche in this market so as to provide a much needed and popular service while at the same time garnering a significant profit. One of the latest trends in the eBook industry has been the conversion of school textbooks into eBooks. The reasoning behind this lies with the fact that textbooks for high school and college students alike are ranked as one of the highest primary costs to achieving an educati on. EBook textbooks are far cheaper than their printed counterparts and far more portable as well, it is due to this that this business venture sees a potential niche market that can be created within the Grand Junction Colorado area. While there are numerous eBook textbook providers the fact remains that few of them cater to a specific area. Various high schools and colleges have their own unique textbook requirements which at times are not available even on the largest of EBook providers such as Amazon.com. This business venture will focus on the Grand Junction Colorado market and its neighboring areas in order to create a niche market for eBook textbooks that specifically cater to the lesson plans of the various high schools and colleges in the area. By doing so the venture will not directly compete against the larger eBook providers while at the same time will be able to become the first player in this isolated market. Company Description The company will be called Junction Book s and it will be based in Grand Junction Colorado, the main bulk of the business will primarily be E-commerce based with all sales and transactions being handled by an online E-commerce system with a third party vendor handling payment processing.Advertising Looking for coursework on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The website will have a function similar to that of iBooks or Amazon.com where customers can search for available titles, register for an account using an automated system and buy items using a sales transaction and processing system. By relying on third party vendors for the companys payment system this reduces the initial startup cost of having to design and incorporate an in-house developed system which might have initial problems in functionality. By using a system already available online for a small fee the company reduces costs which can better serve improving site functionality . EBooks sold on the site are obtained via licensing agreements with publishers wherein a scanned copy of the book, textbook etc is provided in order for it to be converted into a compatible format for various eBook readers (Hadro, 2010). The contract for the sales of the eBooks will be done under a shared profitability agreement rather than a lump sum sales agreement. The reasoning behind this is that some contracts in the eBook industry allow eBook resellers to pay a lump sum payment in order to sell a particular eBook on their website for a predetermined period of time however one potential risk for this type of contract is that the reseller may not be able to sell enough books within the given period in order to gain back the cost of the contract. A shared profitability agreement where the reseller and publisher share in the profits per sale is a better option for a startup. While the profits per sale are lower as compared to lump sum payment contracts it does not incur as much financial risk resulting in an initially low profit margin but a far more stable business platform (At this year’s BEA, 2000). As a result of the recent financial crisis flexibility is a key factor that should be taken into account when starting most business ventures and as such this will be the guiding strategy of this particular venture. In accordance with this, the legal structure of the company will be that of a limited liability company to ensure that options remain open and flexibility continues to remain an integral part of operations. Since the company is an LLC, a specific organizational structure is not really needed and in fact in some states and countries state that an LLC can be established with just a single person being involved in the company.Advertising We will write a custom coursework sample on EBook Industry and Latest Trends specifically for you for only $16.05 $11/page Learn More For this particular venture I plan to operate it under a structure similar to that of a single proprietorship arrangement however will register the company as an LLC in order to gain the tax advantages that come with LLC registration. Industry Analysis The digitization of information has become a growing trend in the publishing industry as a result of new technological developments that have brought about a new era in the consumption and distribution of information. This development has opened previously monopolized markets and has created new avenues of sales by which enterprising entrepreneurs can reach a potentially global clientele base. The development of EBooks has enabled publishing companies to digitize the content of novels, text books, journals etc, creating a means by which they can be distributed cheaply, instantly and most importantly repeatedly without having to continuously print new material on paper (Amazon, 2000). Digital content has become a growing method of publication with the internet acting as the primary medium by which publishing companies reach out to consumers so as to effectively carry out mass distribution of various published works without having to incur the resulting cost normally associated with printed materials. Methods of sale such as iBook, Amazon.com and eBook.net have become popular destinations for a population hungry for digital content as the normally prohibitive prices associated with various printed works have been greatly reduced as a result of the relatively cost effective means of content distribution that eBooks provide (Readers, 2010). Due to the rising demand for cheap content from eBooks and the fact that publishers are attempting to connect with consumers in a way that is relatively new for them this sales environment presents numerous opportunities for a budding business to thrive in what could potentially be an industry that could replace bookstores such as Barnes Noble, Borders, and PowerBooks (Kenneday, 2010). Recent industry data has shown that vari ous traditional bookstore chains in the U.S. are struggling as a result of direct competition against online sales from both Amazon.com and the EBook publishing industry so much so that major chains such as Borders have filed for bankruptcy as a result of their inability to adapt to this changing business environment.Advertising Looking for coursework on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More As online eBook sales continue to grow companies that wish to take advantage of this potentially massive new industry have to consider that traditional sales and marketing strategies do not work as well through online mediums with the internet presenting itself as a challenging yet potentially profitable business environment (Walden, 2010). It is in this particular environment that I plan to create the business venture Junction Books it will be an online eBook store dedicated to supplying customers with the latest novels and textbooks at low prices available for viewing on the latest portable gadgets or computer systems. Chain bookstores such as Barnes Noble, Borders, and PowerBooks etc have dominated the book market for several decades and it was only within the past seven years or so that any form of true competition came to break their near monopoly. While small bookstores do exist, the fact remains that they often cannot directly compete against the branding, prices, and servic es offered by such retail outlets and as a result usually go out of business should a major bookstore chain appear within their immediate area. As a result of new developments in E-commerce, online retail stores such as Amazon.com have broken this apparent monopoly resulting in a shift away from traditional retail purchases towards online buying habits. The recent bankruptcy of Borders is evidence of this trend and the effect a new business environment has on stores that are ill equipped or negligent to changes that must incorporated into new lines of business. Unfortunately within the past several years it can be seen that online sales of books have started to become dominated by a select group of companies such as Amazon.com due to a unique aspect of the internet where branding, name recognition and ease of access contributes to a higher level of site visits resulting in a greater amount of sales for sites that are able to draw a high number of visitors (Reid, 2004). While other s ites are able to compete to a certain extent the fact remains that added costs such as purchase fees, storage fees, delivery fees and taxes do cut into their profit margins which is not that much of a problem for large companies such as Amazon.com due to their larger financial infrastructure, diversified product portfolio and the fact that they can purchase specific products in bulk thus lowering the total average cost. This state of affairs lasted for a few years till the use of EBooks grew in popularity resulting in another shift in consumer preference which created a rising demand for eBooks. Today eBooks sales have begun to rival and even surpass book sales to the point that an entirely new set of industries and technologies have been created to take advantage of the popularity of eBooks. The Kindle, iPad, and various other similar readers have been touted for their ability to display eBook formats in startling clarity which is one of their biggest selling points. The eBook indu stry, unlike traditional bookstore chains or purchasing normal books online, has greater avenues of entry and fewer chances for monopolies to entrench themselves preventing other players from establishing their own respective niches (Tenopir, 2008). One of the reasons why the eBook industry has greater avenues of entry for potential resellers is the fact that the entire product is digitized and thus problems in relation to storage, delivery, and maintenance do not particularly matter (Microsoft, 2010). An average eBook can be as small as 1 MB or as large as 10mb; with most web servers having terabytes of capacity storing the documents online is a rather simple matter. As such even the smallest of resellers can rival the largest of online companies in terms of sheer variety of content and since a single eBook can be reproduced over and over again with instantaneous delivery, costs can be kept to a minimum and thus add to a greater profit margin for the reseller. While name recognitio n and branding are important aspects in selling, online services such as Google Ads helps to advertise fledgling businesses to potential customers and the sheer amount of controls, flexibility and affordability in using such advertising services helps to further subvert potential monopolies from taking hold. Finally, social networking has proven itself to be a viable tool that large corporations are unable to fully match; networks of friends, acquaintances and merely people that a person adds to their friends list are potential customers that a person can advertise to and spread word of their business through word of mouth. Numerous fledgling E-commerce businesses initially started their promotion campaigns through social networking sites due to the ability of such sites to reach a large amount of individuals within a relatively short period of time. Interestingly enough current trends in eBook purchases are not centered on novels or fiction books but rather are concentrated more on school textbooks ranging from high school all the way to collegiate level books (Fister, 2010) The reasoning behind this is the fact that on average high school and especially college required readings are often the most expensive expenses in higher education with total costs reaching several thousand dollars over the course of a high school or bachelors degree (Gilfilan O’Rourke, 2006). It is due to this that students often try to seek alternative means of acquiring the needed text books. The advantage of eBooks is that they are relatively inexpensive and portable since hundreds could be stored in a single reader and pages that are needed for exercises could be printed using a printer. As such, sites that focus on eBook sales specializing in school books are actually on the rise. The one advantage such sites have over the major companies such as Amazon.com is that eBook sites with offices located in certain areas usually contact the publishers of books that are required by students in their areas. With each college having their own curriculum and unique set of textbook requirements major companies such as Amazon.com are unable to fully provide for all their specific needs since they specialize more on products that appeal more to a general rather than a specific population. While in appearance major internet sites may have a diverse collection of eBooks in reality they usually do not have the specific kinds needed by students in certain areas, if they do it is usually a hard copy with a high price range. It is due to this that new eBook sites have started a trend where they focus primarily on marketing eBook textbooks to students within a specific area located within either the state or province that they are in so as to be able to compete directly and surpass the larger online eBook stores. Target Market The target markets of this business venture are the various high school and college students both within the vicinity of Grand Junction and in othe r school systems and colleges close by. The reason for this is that direct competition against the vast majority of eBook providers out there would not be conducive to short term profit goals. In order to attract potential customers the business would have to conduct a significant online advertising campaign that may or may not actually work. Not only that its own infrastructure might suffer as a result by trying to place as many popular eBooks on the site as need be. Instead of trying to be a general provider of eBooks a more viable option would be to focus on specific niche markets (Rogers, 2006). As mentioned earlier an emerging trend in the eBook market has been to cater to high school or college students in order to provide them with an affordable alternative to purchasing expensive hard copy books. Research into the general areas within or near Grand Junction (near being a rather generous term since several locations are more than just a few miles away) has shown that there ar e at least 67 colleges and just as many if not more high schools that this venture could service. The advantage of having an office near the targeted markets for this particular venture lies with the fact that it would otherwise be very difficult to know what specific books the various schools and colleges require for certain courses. By arranging an interview with the various departments this venture could inform them on how their students could save money by choosing to buy eBooks rather than regular books. As such it would be a simple matter of obtaining their various course syllabi, asking them to inform their students of alternative means of obtaining books and finally talking to the various publishers in order to create the appropriate agreements to convert certain books into eBook format (Colorado, 2011). Usually as is the case with most colleges and high schools, the initial freshmen orientation class could be a good way to inform students about the products of this venture. It would be a simple case of contacting the school, informing them of the advantage eBooks have in terms of affordability and have them distribute a simple brochure during each freshmen orientation class which would contain various details about the site and how students could save money by purchasing eBooks rather than hard copies. Competitive Analysis The one advantage of a niche market business strategy is that it minimizes the likelihood at direct competition from multiple competitors. While there is still some competition it would not have been as bad should the venture have entered the general eBook market. As it was mentioned earlier the one disadvantage most eBook reseller businesses have when selling online is that name recognition is more important there than in traditional methods of retail. An example of this can be seen in any supermarket grocery section, while there are numerous name brands to choose from people still seem to choose relatively unknown brands because t hey can see them and they compare the affordability of the unknown brand with the higher prices associated with the branded one and choose to opt for the cheaper variety. The same cannot be said of the internet where an unknown business cannot hope to attract customers since user searches are greatly influenced by URL name recognition. If a URL is unknown or is not recognized at all it would be difficult for that site to gain customers. Not only that attempting to cater to a global audience with a relatively unknown name would be next to impossible since most people would not trust a site that is not well known. As such while there are relatively few barriers to entry in establishing an online store however there are barriers to operations in light of the requirements needed to be entice people to visit a particular online store. In order to circumvent this result the best way would be to focus on a particular niche market that does not directly encompass the general market for eBoo ks. By focusing on a particular area (Grand Junction Colorado and its surrounding areas) and on a specific customer set (students) this venture would be able to focus on stocking the types of eBooks that would be immediately needed by this specific set of customers (textbooks) rather than having multiple eBooks on nearly every single category but would be useless for students. An examination of various websites reveals that there is no other company online that specifically caters to supplying eBook textbooks to the population set chosen for this venture; as such this presents itself as a potential opportunity to be the first business of this type to establish a foothold in this area. Direct competition comes in the form of the various bookstores and shops that are already well established as suppliers for the textbooks that the students need. The initial problem lies with the fact that not everyone within the Grand Junction area actually possesses a portable eBook reader like an iP ad or Kindle (Norris, 2010). One method of overcoming this would be to ensure that the website offers an eBook reader program that students could install on either their laptop or personal home computer so that they could download the content and print what would be necessary for the next day. Putting this into practice would encourage more students to buy content from the site however this still depends on the amount of people willing to use eBooks. The fact remains that when compared to books eBooks require a medium by which they can be read, books on the other hand can be read as is (Noriss, 2010). While the strength of the business lies with the fact that it is able to supply a product at a far lower rate than any other competitor in the area the fact is its greatest weakness is that the environment itself is uncertain with no sure guarantee that the usage of eBook textbooks will catch on when the amount of people using portable readers is uncertain. Marketing Plan and Sales Str ategy In order to reach the target market 3 specific goals must be met: Students in the indicated areas have to be made aware of the products of the company Partnerships must be developed between the various schools and the business Surveys must be done to compare student budgets with possible prices The start of the marketing plan involves students actually being aware of the eBooks that the company is marketing. In order to do so an internet ad campaign must first be launched using Google Ad words with the criteria specifically targeting users from within the Colorado area. By doing so the company is able to develop a certain degree of online presence in order to draw in students who use the internet to the company website. The second aspect of this strategy involves visiting the various campuses and setting up a small ad campaign via booths located during campus fairs and freshman orientations in order to properly present to the students the cost effectiveness of purchasing eBo oks through the company rather than buying hardcopies (Hadro, 2008). Finally social networking will play a key role in this strategy by using the FaceBook social networking advertisements to specifically target users who are near to Grand Junction or in areas that are nearby. Nearly all students utilize FaceBook in one form or another and as such FaceBook ads can be an effective way in order to reach the desired consumer population that the business is seeking to target. Next on the agenda would be to develop effective partnerships with local schools and colleges in order to create a possible subscription program with the venture (Wicht, 2006). Several colleges and businesses are doing so already by offering students access to various academic text books online through a specific service. What could be done in this particular case is to create an option that would allow students to visit the website and read specific books online through a special online system that would only grant access to people using the schools library computers (Friedman, 2010). Students would be allowed to view and print content but they will not be allowed to download the book and printing would be restricted to a minimum of 15 pages per access. By establishing a relationship with the various schools and colleges the venture would be able to have a lasting business partnership enabling the creation of a reliable stream of income for years to come (Cavanaugh, 2005). Finally in order to determine the proper pricing of eBooks what must be done is to conduct a survey in order to see what books are worth in most bookstores and online shops and compare it to what students are actually willing to pay. By setting prices in some form of middle ground the company would be able to create an effective price plan that would encourage students to purchase eBooks. Operations In the beginning of this report I mentioned that the business will operate similar in scale to that of a sole proprietorship b ut under the designation of an LLC for flexibility and the tax advantages that come with it. This is due to the fact that the initial budget for the business will not be large and as such moderation is needed. The E-commerce website for the business will be developed by a web development company specializing in creating the type of websites that specifically deal with eBooks with the sales and transaction portion of the site outsourced to a third party developer. Overall the business will initially be run by a single individual with temporary staff hired during periods when business starts to pick up such as the beginning of every school year or semester. The sales process will begin by first using the partnerships the business has developed with high schools and colleges in the area to obtain the curriculum list to find out which books the students will require for that particular year. After that come negotiations with the publishers and establishing a joint profit sharing plan fo r each eBook purchased. Once the contract has been set the eBook will be uploaded onto the online E-commerce system where potential customers can download it immediately once they have paid using their debit/credit cards or PayPal account. The entire process is fully automated with a small complaints section where users can send emails just in case something goes wrong with the system. Each order is tagged by a specific order number in order to easily trace orders in case something does go wrong. The fact is a vast majority of online E-commerce websites are so automated that they barely require direct human manipulation in order to properly function as such it would be a great idea to adopt such a concept for this particular business venture so as to minimize the costs involved in hiring employees. Management and Organization Suffice it to say due to this venture being run almost entirely online with most of the processes being fully automated it would not make sense to hire an exte nsive management team. Not only that since this is merely a small startup involving a small location a large team would not be necessary at all. In fact in order to minimize costs fixed term employees with contracts not exceeding six months will be used. This type of practice is actually gaining popularity in numerous U.S. states as a means to lower costs and prevent the costs of regular employee compensation such as health insurance and vacation time. Long Term Development As the popularity of eBooks continue to grow it can be realistically stated that eventually they will come to replace books as the preferred medium by which people choose to reach content from publishers. EBook readers continue to become cheaper and portable gadgets such as the iPad and HP slate usually come with software that enables them read eBooks that theyve obtained online. As this trend continues and mobile readers become cheaper more students will continue to buy them due to the influences of pop culture which greatly affects buying behavior. Within the next three years the customer base of this venture can be predicted to grow at least another 40% as the popularity of mobile readers reaches Grand Junction. Within five years the company will have been able to expand its customer base to encompass nearly 50% of the Colorado school system encompassing both high school and colleges. Within 9 years all the students in school systems and college campuses within Colorado will have downloaded their eBook textbooks from either a Junction Book website or a local affiliate. It can also be assumed that by this time at least 60% of schools and Universities will have subscribed to the partnership program of Junction books in order to allow their students to read various text books from their schools library. Overall this business plan does not take into account the possibility of the regression of popularity of eBooks but rather predicts they will become a standard by which students will be taug ht (Albanese, 2010). Various authors, publishers and teachers have stated that as technology continues to grow so will eBooks grow in popularity. They are cheap, cost effective and above all easily accessed and stored as compared to other forms of printed material. Even the U.S. Library of Congress as well as several other libraries around the world are digitizing the content of their books to create a reliable and permanent method of storage that will not deteriorate or crumble. As such it can be said that within the next five to eight years it can be predicted that more and more bookstores will follow the way of Borders as a result of the preponderance of eBook usage in modern society. Financials For this particular venture cash basis accounting would be better rather than an accrual account method. The reason behind this is that under the joint profit making scheme the publisher gets a certain percentage for every eBook sold, as such, since cash basis accounting is excellent at t racking the actual amount of cash available payments towards the publisher would go rather easily and would not pose a significant problem. As for the initial financial projections, it can be assumed that for the first 5 months of operation it is doubtful that the company will break even with operational expenses associated with running this type of site however over the course of a year with the popularity of the site picking up there should be enough cash inflow to match expenses and eventually meet acceptable profit margins (Albanese, 2007). Total Start up Cost: $21,613 Financial Statements Explained For this particular business venture the startup cost needed would be $21,613, this is based off calculations done on the business proposal balance sheet. This startup cost is divided into two distinct asset types: total current assets and total net fixed assets which when combined total the startup cost needed. The total current assets consist of an initial cash base of $10,000 for variable costs such as employee salaries, utilities, miscellaneous costs etc. Following that is the $5000 set aside for inventory expenses namely the eBooks, while a shared sales profit contract is the basis for this particular venture certain licensing fees still have to paid for the eBooks themselves and this includes the cost of hosting them on external servers hence the fact $5000 has been set aside in order to deal with those subsequent costs. Following this is the estimated cost of website url, using GoDaddy.com as a reference a unique web URL using the.com suffix costs $13 per year as such $13 has to be set aside for that particular cost. The last aspect of the Total current assets section consists of the prepaid expenses for Google Ads, Googles pay per click system functions exactly as it sounds, for every click on this ventures Google Ad a predetermined amount will be deducted from the prepaid expense. $500 dollars has been estimated as sufficient for an initial 2011 trial run within the Colorado area. The reason why such a small amount is being is used is due to the fact that sufficient research still has to be done as to which particular key word combination would bring the most customers to the site who will actually purchase an eBook and how much should the pay per click rate be set. Under Fixed Assets the first section is the long term investments section which consists of $2000 being placed for website development. After doing some initial research regarding web site creation costs it was discovered that E-commerce websites require greater degrees of securities and certifications as compared to ordinary sites such as SSL certificates and preventive measures against hacking. As such the combined costs of services, SSL certificates and various other amenities comes to roughly $2000 for the entire year. After that comes an estimate for the rent for an initially tiny office, due to the recent financial crisis the price of renting small offices has a ctually gone down and as such $3000 has been set aside as an initial cost to be applied for one years rent of a very small office. As for costs associated with computers, printers, faxes, photocopies and various other gadgets $900 is enough to purchase 2nd hand or even 3rd hand office equipment which should fill the necessary requirements needed. Finally $200 has been set aside in order to purchase a used desk and various other used furnishings. The reason why this venture is picking used items is due to the fact that they are far more economical as compared to purchasing items that are brand new. When combining all necessary assets the combined amount is $21,613 which is the estimated start up cost. Liabilities Cost The initial liabilities cost of the business is the necessary webhosting for the site. After checking GoDaddy.com a total cost of $600 dollars per year has been seen as more than adequate for the hosting needs of the business due to the vast amount of bandwidth and memo ry given for the price. An estimated cost of $1,000 per year has been determined for the price of electricity, water, and a DSL internet connection, this is of course subject to change since the cost of electricity may go up. The next liability for the business is the estimated taxation per year, this has been taken from the income statement balance sheet as a result of the perceived profits from the initial year of operation, this is also subject to change since various tax deductibles have not been included in this calculation. Finally $500 has been added as potential miscellaneous cost (flyers, posters etc.) just in case the company might require various materials in the future. Another section under liabilities is the long term liabilities section which consists of paying for contract workers which has been estimated at $2000 per year and $443 for miscellaneous long term expenses (prepaid cell phone bills etc). On average the total liabilities equity consists comes to $8,543 whi ch is well within the $10,000 variable cost for operations fund, of course this is subject to potential change in the future as unknown variables may occur. Income statement This income statement shows the possible income of the company over the next four year period. The initial gross sales of $40,000 in one year come from estimates involving the initial $5,000 inventory cost from the balance sheet. This income statement estimates that for the initial cost of $5,000 for the licensing fees it is possible to get enough eBooks to fulfill the curriculum requirements of at least a quarter of the 675 learning institutions near Grand Junction. For those 168 institutions if the company is able to get at least 300 students to purchase EBook textbooks within the year it will have been able to meet the gross sales goal of $40,000. This is estimating that at least two or three students per school will buy one eBook. Since each school has hundreds of students the possibility of getting the requ ired number of purchases is quite high. For the succeeding years of 2012, 2013, and 2014 this takes into account and increasing number of students purchasing eBook text books which of course results in higher gross sales. In the report it was mentioned that the book publisher will get at the very least 40% of the total sales profit per eBook sold. As such 10,000 has been set aside for the profit sharing cost. This results in a net sales profit of $30,000. The cost of sales must be taken into account, in the balance sheet it was indicated that $5,000 was set aside for the licensing fee for the eBooks; this is taken as the cost of sale and deducted from the $30,000 made resulting in a gross profit of $25,000. After this comes the operating expenses for the year which consists of employee salaries, commissions from other websites and Google ads advertising costs. The remaining expenses consist of the remaining salary for the next six month period (all employees are contracted for only 6 months), pay roll taxes, the rent, utilities expense and equipment cost. This results in a grand total of $10,180 for all operational expenses. This amount is deducted from the $25,000 gross profit earned resulting in a net income of $14,820. Understanding the increases in profits and expenses for the succeeding years is rather simple, this report mentioned that it estimates that operations will continue to expand 30 to 40 percent by each year as such the amount of gross sales and various operational costs also increase by 30 to 40 percent. References Albanese, A. (2010). Google Shakes Up the E-Book Market. Publishers Weekly, 257(49), 4-5. Retrieved from EBSCOhost. Albanese, A. (2007). EBooks Face Triple Threat. Library Journal, 132(12), 23-24. Retrieved from EBSCOhost. Amazon.com Chief Says EBooks Will Be BigBut Not For 10-To-20 Years. (2000).  Book Publishing Report, 25(24), 4. Retrieved from EBSCOhost. At This Years BEA, The E Will Stand For EBooks And E-Commerce. (2000). Boo k  Publishing Report, 25(19), 6. Retrieved from EBSCOhost. Cavanaugh, T. (2005). EBooks: Expanding the School Library. Library Media  Connection, 23(5), 56-59. Retrieved from EBSCOhost. Colorado Consortium Adds Free EBooks to Catalogs. (2011). Library Journal, 136(2), 16. Retrieved from EBSCOhost. Fister, B. (2010). EBooks and the Retailization of Research. Library Journal, 135(13), 24-25. Retrieved from EBSCOhost. Friedman, S. (2010). Twitter, EBooks Reign at Computers in Libraries. Library Journal, 135(9), 20. Retrieved from EBSCOhost. Gillfillan, N., ORourke, P. (2006). EBooks on a Shoestring. Library Journal, 13136. Retrieved from EBSCOhost. Griffey, J. (2010). EBook Sanity. Library Journal, 135(13), 25-26. Retrieved from EBSCOhost. Hadro, J. (2010). How to get Library eBooks on the iPad/iPhone, no Sync Required.  Library Journal, 135(20), 20. Retrieved from EBSCOhost. Hadro, J. (2008). Serials Solutions Adds EBooks. Library Journal, 133(12), 22. Retrieved from EBSCOhost. Kennedy, S. (2010). Internet Waves. EBooks by the Numbers. Information Today, 27(9), 15. Retrieved from EBSCOhost. Microsoft pushes eBooks. (2003). Bookseller, (5085), 7. Retrieved from EBSCOhost. Norris, M. (2010). ARE CONSUMERS AS EXCITED AS PUBLISHERS AND ONLINE RETAILERS?. ForeWord, 13(4), 13. Retrieved from EBSCOhost. Readers Are Devouring Apple Book Apps. (2010). BusinessWeek.com, 1. Retrieved from EBSCOhost. Reid, C. (2004). Entrepreneur Launches Diesel eBooks. Publishers Weekly, 251(45), 14. Retrieved from EBSCOhost. Rogers, M. (2006). EBooks Struggling To Find a Niche. Library Journal, 131(11), 25-26. Retrieved from EBSCOhost. Tenopir, C. (2008, February). EBooks Arrive. Library Journal. p. 25. Retrieved from EBSCOhost. Walden, G. R. (2010). Will eBooks kill the PL?. Library Journal, 135(6), 10. Retrieved from EBSCOhost. Wicht, H. (2006). Buying EBooks. Library Journal, 13115-17. Retrieved from EBSCOhost.

Comparison of the United States and Saudi Arabian Banking Sector

Comparison of the United States and Saudi Arabian Banking Sector The banking industry play an important role in an economy; it forms the backbone of world economies thus when a country has a strong banking industry, it is more likely to have sustained development. The United States banking industry plays a major role in the world’s greatest/strongest economy; the industry is more inclined to conventional baking model and is regulated by federal and state governments.Advertising We will write a custom essay sample on Comparison of the United States and Saudi Arabian Banking Sector specifically for you for only $16.05 $11/page Learn More Saudi Arabia is one of the fast growing world economies with the largest Muslim population; the country’s banking sector is inclined more to Islamic banking system. Saudi Arabian Monetary Agency (SAMA) in collaboration with the country’s central bank controls the sector. Banks, like any other business are affected by external influences and operations of the economy (Da lvinder 34-56). This paper undertakes an external strategic comparison of the United States and Saudi Arabian banking sector. To undertake this role, the paper will discuss various issues in the sector as guided by subtitles. Suppliers Alongside the core line of business, the main product that banks require is money of different currencies. According to banking act both countries, the central bank is supposed to offer some finances to the bank under the system of reserve policy. In the United States, the loan is offered to the bank at an interest payable after a certain period. It is the interests and the required reserve that the central bank uses to control inflation in the country. According to SAMA policy of operation this is in line with Islamic banking policy, the central bank advances some funds to the banks after a certain reserve has been kept with the bank. After the commercial bank has invested the money, then it shares some gains with the central bank; ion the case of a loss, then the central bank is also a party that suffers. Other than the central bank, both economies allow for mobilization of funds from the public then use the money for trading; in United States, money mobilized from the public attracts some interests while in Saudi Arabia there is sharing of profit depending with the kind of saving that a person has engaged in. Both countries are enjoying increasing corporate and individual depositors thus money is not a challenges despite the growing number of national and international banks. New entrants In modern era of globalization, both countries are facing an increasing number of new entrants in the banking sector; in Saudi Arabia, the sector is growing faster than that of the United States because of the past global financial sector that was believed to have started in the United States. The fast growth of Saudi Arabian economy is attracting an increasing number of investors who are willing to comply with Islamic banking rules.Advertis ing Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In the United States, since the global financial crisis the banking industry is seen to be growing in the line of micro-finances and self-help groups, people have realized the need to pool their resources together and start some lending companies. Some of these investments are controlled by the countries Sacco policy while others operates behind scenes. Buyers The main source of funds for the banking sector are individual and corporate operating in an economy; in Saudi Arabia and the United States, the economies are having an increasing number of borrowers both corporate and individuals. The booming of the economies is offering the sectors an increasing demand for their services that is offered at a beneficial rate. In the United states, the influx of micro finances and international banks has reduced the margin of interest that the banks o ffer coupled with some of the monetary policies that the government enacted to cure the dangers of global financial crisis. On the other hand, the Saudi Arabian government, with the guidance of SAMA has reduced license barriers that have for long hindered the establishment of international banks in the economy; however, despite the removal, the conditions of Islamic banking has seen a number of international banks shy from investing in the economy. Substitutes The banking sector faces some substitutes from efforts of the government, and non-government organizations that are registered and mandated with the role of providing financial service in the economy. In the United states, one of the main substitutes that buyers of banking sector has is government grants and advances; they are funds that the government through various ministries offer to finances some projects in a company; in most cases the finances are meant for giant projects that will benefit the entire economy. Another ar ea that people get funds is from some multinational companies that have diversified their business to offer financial support; they include Toyota Motor Company with alongside the provision of financial services. Although SACCO’s can be argued as either player in the banking sector or otherwise, they are taking, a form that is offering substitutes to trader. Companies are mobilizing their employees and starting a self-help SACCO society that is competing with the banking sector. The benefit of the SACCO’s is even higher as they offer loans through the co-guarantee method and they have recorded high dividends that the interests paid by conventional banks.Advertising We will write a custom essay sample on Comparison of the United States and Saudi Arabian Banking Sector specifically for you for only $16.05 $11/page Learn More In Saudi Arabia, SAMA has locked a number of substitutes in the economy, however the government has some funds for differe nt developments of groups within the economy; for example there are some funds meant for the youth (Youth Fund) and others meant for women (Women funds). They are money that does not pass through the â€Å"normal† banking system but they offer substitutes to the service of the bank (Battilossi and Jaime 23-34). Socio-culture drivers The American banking system follows the conventional banking system where the bank gets money from the central banks at an interest, offers services at a fee and offer loan facilities at an interest higher than that charged by the central bank. The majority of the Americans adapt to the system which seems to be supported by the cultural believe in the economy other than the religious believe of the Muslims. To cover the minority citizens who have subscribe to Muslim religion, the economy has some Islamic banking companies that are used by the Islam’s in the country. In Saudi Arabia that happens to have over 95% of the population as Muslims, the support the Islamic banking system that seems made in line with the religious and cultural believe of the people. Other than of late where there has been minimal introduction of conventional banking, non-Muslims in the economy had been forced to adapt to the system (SAMA). Economic driver The United States has the world largest economy in GDP of $14.7 trillion in 2010; the economy has been maintaining an increasing rate of economic growth until the global financial crisis. In the economy, the improvement has resulted to an increased demand for banking services to both corporate and individual borrowers. This has lead to an increase in business for the sector of the economy. In 2006, Saudi Arabia had a GDP of SR799.9 -13824 and a nominal GDP of SR1.30trillion. This was a 12.4% increase in nominal GDP and 4.2% increase on GDP (Saudi Arabia Economic Statistics and Indicators). SAMA was a major participant in the move as banks savings and loans were increased accordingly. The bank maintained a peg of the country’s currency with United States Dollar and only changed the rate twice; it raised it by 25 basis points, from 4.75 by the end of 2005 to 5.0 at the start of first quarter of 2006.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More By the second quarter, the repo rates were increased by 20 basis points to 5.20 (SAMA). In 2006, using the Consumer Price Index the inflation of the country had increased to 1.6% with money supply increase of 14.9 percent over the same period. Of late there has been a fast growth in peoples living standards as well as an increase in investments in the economy; this has created a need for the banking services thus the future of the industry is promising in both countries (Suleman 23-78). Technology driver The growth in technology has made some business changes in the banking sector; both the conventional banking and Islamic banking system in the Unites states and Saudi Arabia respectively have adjusted to the changes. In the United States, there has been an increasing move to automated banking system where banks are competing to have service offered via technology. For instance, there has been the growth of ATM (Automated Terror Machines), Internet banking, and mobile banking. In the Saudi Arabian, technology has been adopted to a certain extent in the economy, the banking industry is using technology to monitor the performance of advances made by the industry and is working hard to have customer get the service off the banks. There are growing number of ATM, mobile banking and e-banking systems. SAMA has of late being in the forefront advising the banks to adopt technology as a cost reduction measure and ensure that they are working in line with the regulations of the Islamic banking despite the adoption of technology (Schoon 12-34). Political and regulation driver The operation of the banking sector does not escape some political influences; they have been used to settle some political goals positively and sometimes negatively. In Saudi Arabia, SAMA is the main body that controls the operations of the banking sector, it is seen to have the upper hand and final say in the sector but there are some consultations with the central bank on policies that can benefi t the economy. In the United States, the banking sector is controlled by federal and state governments where they are expected to operate under the frameworks of the country is banking act of 1933; however, the act has been mended to fit changes in the sector. Conclusion External environments prevailing in an economy affect the banking sector; in the United States, the sector (conventional system) is gradually recovering from global financial crisis of 2007 and benefiting from increasing economic strength in the economy. The Saudi Arabian banking system (Islamic banking) is growing strong as the economy grows stronger; the country is opening its boundaries to attract foreign banks, this move is likely to increase competition in the sector. Battilossi, Stefano, and Jaime Reis. State and financial systems in Europe and the USA: historical perspectives on regulation and supervision in the nineteenth and twentieth centuries. Ashgate Publishing, Ltd., 2010. Print. Dalvinder, Singh. Bank ing regulation of UK and US financial markets. New York: Ashgate Publishing, Ltd., 2007. Print. SAMA. Saudi Arabian Monetary Agency. Saudi Arabian Monetary Agency, 2010. Web. Schoon, Natalie. Islamic Banking and Finance. London: Spiramus Press Ltd, 2009.Print. Suleman, Hamdan. Banking system in Islamic countries: Saudi Arabia and Egypt. Stanford: Stanford University, 2006.Print.

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Mentorship and work based learning and assessment Essay

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