Essays --

Oedipus the King Oedipus Rex is accepted to be outstanding amongst other old style instances of the Greek traditional request and what disaster speaks to. Numerous Greek catastrophes incorporate a focal character that is known to be the â€Å"tragic hero†. In Oedipus Rex by Sophocles, Oedipus the fundamental character assumes this job. This paper will give a short rundown of a portion of the qualities of a shocking saint, while likewise investigating all the significant occasions that lead to Oedipus rise and ruin. Oedipus, the ruler of Thebe’s disaster displayed Aristotle’s theorizing’s of what catastrophe is in his book the Poetics. The play has an all around built plot that follows Greek old style request. Aristotle and resulting pundits have named Oedipus the perfect disastrous legend. A concise rundown of the play: Oedipus is the child of the King and the Queen of Thebes. The ruler Laius gains from a prophet that his child will grow up to kill him and wed his significant other. Astonished at the prediction Laius sends his child to be executed to maintain a strategic distance from the prescience from getting valid. The hireling pity’s the infant and gives the kid to another person who at that point offers it to their ruler and sovereign who couldn't have youngsters. Oedipus grows up and goes to the prophet who at that point enlightens him concerning the prescience. Terrified of what may happen he leaves the realm attempting to stay away from the prediction too. While out and about he encounters a gathering of guys and get into a showdown, the battle raises and Oedipus slaughters them not realizing that one of them is Laius his dad. He proceeds and shows up at Thebes and sees that a sphinx has kidnapped the city. He settled the puzzle of the sphinx, which had been slaughtering the youngsters of Thebes. By comprehending the question he turned out to be exceptionally applauded by the city of Thebes. As... ... guardians. His underlying aim was to diminish Oedipus from his feelings of dread of the prescience; rather the outcomes end up being opposing to his underlying plan. The delivery person furnishes him with basic data that quickly uncovers to Oedipus that he was not effective in forestalling the prescience his activities lead him directly into it. As Aristotle suggests, this is straightforwardly associated with the anagnorisis, for the flag-bearer and the herder are the missing connect to Oedipus genuine story. The flag-bearer empowers him to â€Å"recognize† his actual personality, he picks up the underlying information he needed. The peripeteia and anagnorisis changes Oedipus fortune. His favorable luck ends up being a fiasco that prompts languishing. His activities will be viewed as a mishap of his aims, and every one of them will give him more understanding of reality that will in the long run lead to his destruction.

Free Essays on Alternative Endosymbiosis

Elective Approach in the Evolution of Endosymbiosis In the article, â€Å"The Birth of Complex Cells,† Christian de Duve proposed the hypothesis of cell development where prokaryotes advanced into eukaryotes through an unpredictable procedure of endosymbiosis. In this hypothesis, de Duve suggests that the starting advance to the development is that the prokaryote loses its cell divider which builds its capacity to develop in size just as its capacity to change shape. It would then have the option to grow and overlay its layer, all the while expanding its surface zone for more admission of food and supplements. Further, de Duve clarifies this upgraded capacity of taking in supplements through the layer would support their endurance since it would then be simpler for the cells to catch and procedure their food. Prokaryotes would now process their food inside the cell rather than outside the cell. The cells would now have the option to perform highlights that are related with phagocytosis where the cell has the capacity to inundat e objects situated outside the layer by utilizing a procedure like endocytosis. The phagocyte would eat littler prokaryotes which would then shape into endosymbionts of the cell to perform explicit capacities that the cell required so as to get by in the earth wherein it was living. The phagocytes, for instance, fused endosymbionts like mitochondria and peroxisomes. The advancement of the mitochondria and peroxisomes then could frame the forerunners of plastids which would permit the cell to perform photosynthesis. At last, through a long procedure, the DNA and proteins from the first phagocyte were moved and moved into the endosymbionts to change them into cell organelles, from â€Å"prisoner to slave† as de Duve composed. They would now be a piece of the cell itself and be viewed as one whole eukaryote. The way toward consolidating the mitochondria, plastid, and the peroxisomes from different cells is bolstered by the ar... Free Essays on Alternative Endosymbiosis Free Essays on Alternative Endosymbiosis Elective Approach in the Evolution of Endosymbiosis In the article, â€Å"The Birth of Complex Cells,† Christian de Duve proposed the hypothesis of cell advancement wherein prokaryotes developed into eukaryotes through a mind boggling procedure of endosymbiosis. In this hypothesis, de Duve recommends that the starting advance to the development is that the prokaryote loses its cell divider which expands its capacity to develop in size just as its capacity to change shape. It would then have the option to extend and crease its film, all the while expanding its surface territory for more admission of food and supplements. Further, de Duve clarifies this upgraded capacity of taking in supplements through the film would help their endurance since it would then be simpler for the cells to catch and procedure their food. Prokaryotes would now process their food inside the cell rather than outside the cell. The cells would now have the option to perform highlights that are related with phagocytosis where the cell has the capacity to o verwhelm objects situated outside the layer by utilizing a procedure like endocytosis. The phagocyte would eat littler prokaryotes which would then shape into endosymbionts of the cell to perform explicit capacities that the cell required so as to get by in the earth wherein it was living. The phagocytes, for instance, consolidated endosymbionts like mitochondria and peroxisomes. The advancement of the mitochondria and peroxisomes then could frame the forerunners of plastids which would permit the cell to perform photosynthesis. At last, through a long procedure, the DNA and proteins from the first phagocyte were moved and relocated into the endosymbionts to change them into cell organelles, from â€Å"prisoner to slave† as de Duve composed. They would now be a piece of the cell itself and be viewed as one whole eukaryote. The way toward fusing the mitochondria, plastid, and the peroxisomes from different cells is bolstered by the ar...

Children Are More Prone to Depression During Puberty

Children Are More Prone to Depression During Puberty Depression Childhood Depression Print Depression During Puberty By Lauren DiMaria linkedin Lauren DiMaria is a member of the Society of Clinical Research Associates and childhood psychology expert. Learn about our editorial policy Lauren DiMaria Medically reviewed by Medically reviewed by Steven Gans, MD on July 14, 2016 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on February 03, 2020 Depression Overview Types Symptoms Causes & Risk Factors Diagnosis Treatment Coping ADA & Your Rights Depression in Kids   VOISIN  / Getty Images   Puberty can be a difficult time for you and your child. While your child is developing physically, they are also experiencing rapid growth of psychosocial maturity. Put simply, during this time, children begin to naturally pull away from their families and connect with their peers to establish independence and individuality. While social withdrawal, moodiness, and other behavioral changes are commonly attributed to this normal developmental stage, researchers are realizing that in some cases, these changes could indicate that puberty is actually contributing to depression. The Frequency of Depression During Puberty It is estimated that 2% of children under age 10 experience depression, according to the American Academy of Pediatrics. However, between the ages of 10 and 14, the average age range of puberty onset, depression rates increase from 5% to 8% for children overall. Though rates of depression are higher for boys than girls before puberty, the rate for girls becomes double that of boys during puberty. How Prevalent Is Depression? Signs of Depression Puberty is a unique time when changes in appearance and behavior are naturally occurring. As such, parents, teachers, and caregivers need to be especially aware of signs of depression, which may be hard to differentiate from normal behavioral changes. Moodiness, separation from parents, and identification with peers are behaviors common during puberty. Symptoms that may indicate depression, however, include: Thoughts of self-harmAvoidance of schoolAcademic declineRisk-taking behaviorsPersistent vague physical complaintsExcessive guiltUnexplained cryingFeeling misunderstoodLosing interest in things of former interestClinging to a parent or worrying that a parent may dieSleeping difficultiesWeight changesUnexplained fatigueDifficulty concentrating and focusing Take signs of depression seriously. Never be dismissive, particularly if your child is expressing thoughts of self-harm or suicide. Signs That a Child Might Be Depressed Why Does Depression Increase During Puberty? Several theories for the striking increase in depression during puberty exist. However, there is little agreement among researchers and clinicians. Hormones Estrogen, a female sex hormone, has consistently been linked to depression. Estrogen levels dramatically increase in girls during puberty, which may contribute to the increase in depression rates among them. Conversely, testosterone, a male sex hormone that increases in boys during puberty, has not been linked to depression. One study looking at gender and sex differences in depression proposed that a diathesis-stress model could account for why girls are more prone to depression.?? This theory proposes that predisposed hormonal vulnerabilities interact with environmental stresses to contribute to the onset of depression. Stage of Physical Development The research published in The Journal of Affective Diseases reported that physical development during mid-puberty predicted the increase in depression rates more than other any factor that was studied.?? Timing at Puberty Onset The timing of puberty onset may have an impact on depression rates: Children are early or late developers may exhibit more depressive symptoms than those who felt they were developing at the same time as their peers. A 2016 study found that early-onset breast development is associated with a higher risk for symptoms of depression.?? Researchers note, however, that it is unknown if this is connected to the effects of hormones or the impact of social pressures. Stressful Life Events During puberty, academic work and social relationships become more complex and demanding, which can be stressful. Some children are more prone to depression as a result of stressful life events. Does Your Teen Seem Depressed? Heres How to Help Where to Get Help More research is needed to determine the cause of the increase in depression during puberty. Regardless of the causes, depression during childhood can have a profound impact on a childs functioning including school performance and relationships. It is also associated with lasting effects on later relationships, social functioning, parenting, school performance, substance use, and the onset of other mental disorders. Steps you should take: Dont ignore behavioral and mood changes in your child, as there is clear evidence that rates of depression increase during puberty.Listen to your child about how they are feeling and take their concerns seriously; let them know that you are there to offer support and help.Talk to your childs doctor. Always be concerned about any new or unexplained behaviors in your child and bring them to the attention of your childs physician. A physician can rule out other medical problems, and help decide if the behavioral changes are a normal part of puberty or a sign of depression. Your childs doctor will ask questions about the types of symptoms your child is experiencing as well as the duration and severity of these symptoms. Your doctor may recommend treatment options or may refer you to a mental health professional such as a psychiatrist, psychologist, or counselor. Early identification and treatment of depression are essential, especially for children. Unfortunately, research suggests that depression among children in teens is common yet underdiagnosed and undertreated.?? Treatment Research suggests that children with mild depression can often be successfully treated with support and symptom monitoring. For moderate to severe cases of depression occurring during puberty, treatment options may include the use of antidepressants and psychotherapy, often in combination. The 7 Best Online Help Resources for Depression Two types of psychotherapy that may be effective in treating major depressive disorder in adolescents and children are: Cognitive-behavioral therapy (CBT): This approach focuses on identifying and changing the cognitive and behavioral patterns that are associated with cycles of depression.Interpersonal therapy (IPT): This type of therapy focuses on identifying relationship problems and addressing those conflicts. Poor relationships or the termination of important relationships (such as a breakup or a parental divorce) can contribute to symptoms of depression. Caution and careful monitoring are necessary when children and adolescents take antidepressants, as these medications can increase the risk of suicide. Education is important for helping teens and loved ones understand the potential risks and how to spot signs of suicidal thinking. How to Help a Depressed Teenager

The Ramayana As A Hero Essay - 1508 Words

Chapter 1 INTRODUCTION Heroism and the concept of a hero have been subject to many changes, especially with respect to changes over time and in terms of how heroism is viewed by different cultures. The thing being explored in this chapter, primarily through the analysis of major heroic archetypes and characters, is how the ancient Indian heroic society takes the ideas of heroism, with specific focus on the epic poem ‘The Ramayana’. Along with the examining of the major characterstics of heroic archetypes, specifically the hero who works with a partner or companion, the hero who works alone and the figure of the hero who plays a background role in the context of the epic, there will also be a brief focus on the importance of the ability of†¦show more content†¦Normally, they have one weakness that compromises their noble quest, but they overcome this obstacle with grace, endurance and fortitude. By the end of the work, classic heroes generally live happily ever after. Tragic Heroes Their fatal flaw or weakness in their character that brings about their downfall, is the main characterstic of these heroes. Many factors play major roles into these personas. Since these heroes experience a â€Å"downfall†, they must come from noble birth or some high ranking position, and the path to their downfall is often plagued by one or a series of poor choices. Towards the end of the work, the readers might feel sympathy or pity for these characters, which is an indication that the punishment for these heroes was too harsh for their shortcomings. The aim of the difficulty of the tragic heroes is to teach the readers valuable lesson. Epic Hero These people closely resemble the classic heroes, and they are the main characters in the epic poems. Heroes in this group also exhibit superhuman strength and courage, but they do so because they have a mix of divine and mortal heritage. Their mortal halves also foreshadow that they will display a weakness. These heroes often succumb to a moment of despair where they almost give up when they embark on a noble quest that will test their courage over and over (the obstacles are usually made by gods). Finally, these heroes work into their strength once more toShow MoreRelatedEssay on Sita as the Hidden Hero of Ramayana2232 Words   |  9 PagesSita as the Hidden Hero of Ramayana    Valmikis Ramayana was written around 300 B.C.E. (Carrier 207). Typically, the character of Rama is seen as the hero and the character of Sita is seen as the heros wife.   In this essay, I will compare Sitas journey of capture and inner growth with the save the kingdom journey of Rama, show how the two correlate, and eventually connect in the influential chastity scene. I will also prove that Sita is the hidden hero of this epic even though she isRead MoreRamayana Essay750 Words   |  3 PagesRamayana Ramayana and some of the Hindu virtues derived from it The poetic author, Valmiki, does not calls Rama the perfect man in his well known tale of Ramayana for no reason. For this story has been a legendary epic that many generations of the Hindu culture have been modeling their society after, for over two thousand years. It has been an influential teaching for children and scholars of all ages because of its simplicity andRead MoreElements Of The Epic Of Gilgamesh918 Words   |  4 PagesThe epic hero has been part of world literature since time immemorial. Epic tales have contained within them, various elements that have helped define the genre. These tropes have existed at least since the writing of the ancient Mesopotamian text, The Epic of Gigamesh. 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In Sikhism, women do not attain a certain status within the Sikh culture because to them women are equal to men in the eyes of their God (Pinkham, 1967). In this essa y I will argue that by having such opposing views towards women in the Hinduism and Sikhism culture, it gives a clear understanding of the way in which women are portrayed among Hindu’s and Sikhs; as these two dominant religions have very different conceptions

Essay about Surrealism and Radically New Approach - 816 Words

1. Use the words relativity and uncertainty in a paragraph that describes the revolution in modern physics that took place in the early twentieth century. Modern physicists found, however, that at the physical extremes of nature-the microcosmic realm of atomic particles and the macrocosmic world of heavy astronomical bodies-the laws of Newton’s principia did not apply. German physicist, Albert Einstein, made public his special theory of relativity, a radically new approach to the new concepts of time, space, motion, and light. Building on Einstein’s theories, Werner Heisenberg theorized that since the very act of measuring subatomic phenomena altered them, the position and the velocity of a subatomic particle could not be measured†¦show more content†¦5. How did the media of photography and film respond to the modernist aesthetic? Photography was an ideal medium with which to explore the payers of the unconscious mind. Modernist photographers experimented with double exposure and unusual new effects similar to those of visionary Surrealist painters and sculptors. A champion of the technique, Raoul Hausmann, called photomontage â€Å"the ‘alienation’ of photography†. By this, he implied that photomontage destroyed the role of photography as a medium of recreating physical reality. But the statement also suggests that by its dependence on fragmentation and dislocation, photomontage offered a visually and conceptually new image of the chaos of an age of war and revolution. 7. Create a stream-of-consciousness diary entry of your experiences since you awoke this morning. Does your entry capture these experiences more effectively than a narrative description of them might? When I woke up in the morning, first thing I have to do is go to bathroom. During that time I bring my cellphone inside and check my E-mail, facebook and so on. All of my friends are in China, because of time difference, I always check it in the morning. I still remember the time that I spend with my friends in China, we can do anything we want. One time, we drink all night in my friend house, everyone got drunk and we just like the movie, which is â€Å"hangover†. I really like this movie, it’s so funny. I watched this movie with myShow MoreRelatedThe impact of industrial revolution on modern art Essay1430 Words   |  6 Pagescalled it expressionism. Italian artists, refusing everything with old roots and inspired by the rapid development of technology, appearance of first cars and airplanes, developed in their turn the art movement under the name â€Å"futurism†. Finally, surrealism, exploring the secrets of dreams and filling art with psychological meaning, reached its apogee during the early 20th century with the works of Marc Chagall, Joan Miro, Rene Margritte and fantastic Salvador Dali. 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Best Buy Marketing Plan Free Essays

2012 4/26/2012 Marketing Plan The Micro Environment The Company: Best Buy’s mission statement is â€Å"Our formula is simple: we’re a growth company focused on better solving the unmet needs of our customers—and we rely on our employees to solve those puzzles. Thanks for stopping. † Their company perspective is the following â€Å"Our vision is to make life fun and easy. We will write a custom essay sample on Best Buy Marketing Plan or any similar topic only for you Order Now Our business strategy is to bring technology and consumers together in a retail environment that focuses on educating consumers on the features and benefits of technology and entertainment products, while maximizing overall profitability. We believe our stores offer consumers meaningful advantages in store environment, product value, selection and service, all of which advance our objectives of enhancing our business model, gaining market share and improving profitability. † Best Buy strives to continue its growth and innovation in order to come up with new ideas and new ways to intrigue their customers and also new ways for their employees to work as a team and work together. One of their goals is to offer solutions for entertainment and technology that will meet their customers’ needs, â€Å"end-to-end. † Best Buy’s core competencies is simply to make technology and entertainment products affordable and easy to use for their customers. â€Å"We’re world-class in store experience, customer orientation, inventory management, executing new store concepts, and rallying our people around common goals, as well as, marketing, merchandising and related disciplines. † Some areas of improvement that Best Buy is currently undergoing are to be greener. In order to do so, they have to add more green vehicles when it comes to transportation and also stocking more green products in their stores so they can educate their customers about the impacts they may have by purchasing green products. Competitive review: Best Buy’s top three main competitors include Wal-Mart, Target, and RadioShack. Wal-Mart not only engages in the retail sale of electronic goods, but also offers food, health and beauty aids, apparel for women, girls, men, boys, and infants, jewelry, and a wide variety of many other products. Their market cap is $211. 51 B, which as you can see is much larger than Best Buy’s market cap, but the reason is simply because Wal-Mart specializes in selling a wide range of products and not solely electronics. Wall-Mart is the world’s largest retailer and grocery store by sales, which amounts to almost 50% more than its closest competitors combined, such as Target and Sears. One of Wal-Mart’s biggest strengths is that many suppliers give in to Wal-Mart’s pressure because they depend heavily on the discount retailer that they offer for a majority of their sales. One of Wal-Mart’s weaknesses has to do with their reliance on Chinese-made imports because the company may become vulnerable to a weakening dollar or strengthening of the Yuan. Since Wal-Mart purchases the majority of their products from China every year, if the Yuan dollar strengthens, Wal-Mart will soon have to pay more for their merchandise that comes from China, which will further affect Wal-Mart’s bottom line. Target is very similar to Best Buy and like Wal-Mart they offer far more then just consumer electronics. Most of their stores include clothing, furniture, and a grocery department. In the last year, their stock has hit a 52-week low of $45. 28 and 52-week high of $58. 95, compared to that of Best Buy, which has a low of $19. 79 and a high of $32. 85. The reason the stock for Target is worth more is because they offer a larger variety of products so they have a larger market share then Best Buy. When you compare the quality of electronic products between Best Buy and Target you will see that Best Buy has the advantage. For example with TV’s, Target will offer more of the smaller named more affordable televisions. These TV’s can not compare to the quality of the big name products that Best Buy offers, such as Pioneer Elite. The biggest strength that Target has is their wide array of products from many different departments. But they also have a weakness for their customer service. Many times you can go into the store and never be helped by one of the employees. Then when you find one, they are uneducated on many of the products. RadioShack is similar to Best Buy since they both engage in the retail sale of electronic products and services. Some products include home entertainment systems, scanners, GPS products, digital camera, and many others. â€Å"As of March 31, 2011, the company operated 4,467 company-operated retail stores under the RadioShack brand name in the United States; and 1,304 kiosks located in Target and Sam’s Club stores. † Their market cap is a total of 732. 80 M, compared to Best Buy’s market cap of 8. 88 B. RadioShack recently launched a new low price guarantee on mobile phones in order to attract customers and show them that they are offering the best deals. It is also has a Trade and Save program which allows customers to trade in their used mobile phones and other electronic devices for immediate credit toward their next purchase. The company also has a new Mobile Product Support which provides customers with free specialist support to help them resolve any of their mobile phones or other device-related issues at no additional cost. RadioShack is currently undergoing a plunge in their stock price due to the significant growth of the online retail market, such as eBay and Amazon. Corporate partners review and channels: Best Buy is an electronic retail store, according to the Best Buy 2011 fiscal year report, they operate 1,099 US Bes Buy stores, 6 Magnolia Audio Video Stores specializing in high-end electronics, 6 Audio Visions Stores, 117 Best Buy Mobile Stores and 35 Pacific Sales kitchen and bath center Stores (in Southern California, Arizona, and Nevada). Best buy also operates on the international market with 71 Best Buy Stores in Canada, 2440 Best Buy’s in Europe – Small Box, 6 Best Buy’s in Europe – Big Box, 166 Five Star Stores, 8 China Best Buy Stores, 10 Best Buy Mobile Canada, 6 Mexico Best Buy Stores, 2 Turkey Best Buy Stores and 146 future shop stores throughout Canada. In the U. S. Best Buy has a 1,200 square foot Best Buy Mobile store as well as a 20,000, 30,000 and 45,000 square foot Best Buy big box store. In Canada, Future Shop stores average 26,000 square feet and Canadian Best Buy stores average 32,000 square feet. In Europe, The Carphone Warehouse and The Phone House stores average 800 square feet. Best Buy also operates online, allowing Customers to purchase product on line at www. bestbuy. com. The main challenge associated to Best Buy distribution is that the company relies on a handful number of vendors for the supply of their product. Best Buy only accounts for 60 percent of the merchandise it purchases, therefore if any supplier is unable to supply or there is disruption and lost from any vendor, the company may not be able to meet the demand of the customers. Product review: Best buy offer product such as electronic, home office product, entertainment software, appliances and related services. Consumer electronic is their largest product category which includes video and audio equipment such as television sets, DVD player, audio system, portable audio player and car stereo. Some of the Home office products are computers, telephone, cellular phone, copier and calculator. Entertainment software offered are CD, DVD, computer software and video games. Best Buy home appliances are dish washer, air conditioners, washing machine, dryers, ranges and refrigerator. Best Buy offers sales on multiple of their items which are computer, tablets, home theater, mobile phones, IPod, cameras, car GPS, appliances, home, finesses, music instrument, video games and movies. However, Best Buy’s most famous sale is on black Friday, they are among â€Å"the top 3 brick and mortar retailers† according to blackFridayads. com. Best buy has a price matching guarantee police they state â€Å"Best Buy will match the price if you find a lower price on an identical available product at a local retail competitor’s store, a local Best Buy retail store or BestBuy. com. Simply let us know when you are making your purchase or during the return and exchange period. † Matching prices to competitor such as Amazon and Wal-Mart. The Bureau of Economic Analysis recorded negative growth rate for retail stores during the third and fourth quarters of 2008. Best Buy is the largest U. S consumer electronic retailer by revenue, with $40 billion in net sales in fiscal 2008. Best Buy revenues have increase since 2007 it went from 35. 9 billion in February 2007 to 50. 3 billion in February 2011. The gross profit has also considerably increased by 46. 5% since 2008. There is also a considerable increase in their net income, it went from 1. 38 billion to 2. 70 billion in 2011. However, and their operating incomes have also increased, due to an increase of 92. 14% in the depreciation and amortization. In overall their profit has been increasing since 2007. Market/industry description and overview: Over the last few years the consumer electronics retail industry has taken a big hit. One of the big factors for this is the recession; people have less money to spend on material possessions then they used too. The big retail stores such as Best Buy and Target have lost profits due to customers looking to find the best deal possible to save money. Some of Best Buy’s biggest competitors, Amazon for example, have been able to take advantage of this by selling items online at a much lower price. Many times it is a price that Best Buy and many other large retail stores cannot match. An article from http://ledfrog. com/blog/2011/04/the-future-of-big-box-retailers/ stated, â€Å"I can go to the store, check out a new camcorder or surround sound system and then decide if it’s something I want. If it is, I’ll ask the manager if they can match Amazon’s deeply discounted price. If he can, I’ll buy it at Best Buy. If not, I’ll go home and order it online. † Because of the online shopping, the market for electronic retailers is shrinking so it will be important to capitalize on the market that is there. The Macro Environment Culture Best Buy wants its main consumers to be in the middle to upper class. It is because of this that they do not specifically target any one gender or race. As long as the consumer has the money to spend Best Buy will want to service them. Those apply to Best Buy as a whole throughout the country; regionally things are a little different. Depending on what region the store is located Best Buy will have to focus on different things. For example in South Los Angeles where the population is predominantly Hispanic and primarily speak Spanish, the employees that are hired there are going to have to know how to speak Spanish, and many of the product signs can have Spanish written on them too. So Best Buy can have the same message throughout the company, but you are going to have to focus more on the little details of where the store is regionally so you do not offend the customers. Demographics: As a company Best Buy has divided its core customers into five different demographic segments, and they call it customer centricity. They have given a name to each one of these segments, Barry, Jill, Buzz, Ray, and Mr. Storefront. Barry is a man in the age range of 24 to 45 who is an affluent tech enthusiast; typically he will be in the higher income bracket and spend more money. Jill is a suburban mom with a targeted age of 24 to 45; she is also in a high income bracket but does not like the whole shopping experience for tech products. Buzz is either male or female with a targeted age of 18 to 24. They would be young shoppers into gadgets, video games, and movies, and is in a low income bracket. Ray is a price-conscious family guy between the ages of 24 to 45; he will be looking for the best deals and likes to see advertisements, also he is in a middle income bracket. Mr. Storefront is a small business owner in any age bracket and any income bracket. They have also divided two other segments of customers who are outside of their core targets. The first is named Carrie and she is a young single woman in a low income bracket between the ages of 18 to 30. The second is targeted at empty nesters they are both male and female between the ages of 45 to 55 they are in a middle income bracket and are named Helen and Charlie. The purpose of the customer centricity program is so that a store can meet the needs of its main shoppers. You have to first find out the find out what type of shopper goes to a store most and then tailor that store to their desires. For example if you have a store that is tailored to a Barry and Jill that store will have a lot of lighting and fixtures to meet the needs of Barry and personal shopping assistants to help the Jill’s find their products. Best Buy as a whole has decided to focus its demographic segments on people in the income bracket of the upper to middle class. The reason for this is that our core customers are in these income brackets, and knowing this allows the company to build the store to what those classes want. I would not consider dropping any of these customer segments because they cover a vast majority of the shoppers that Best Buy receives. The customer centricity program is what helped keep Best Buy so profitable when companies like Circuit City went out of business. I would however create a new segment named Andy. Andy will be a single man living on his own. This person will be in the mid to high income bracket and be a new tech and gadget shopper. His main purchases would be in home theater and computer. Social trends: Social trends are one of the biggest driving factors for the income that Best Buy receives. But they also can have a negative impact if we do not address the trends properly. It is very important to keep up with the social trends to help keep our business relevant and in the news for positive reasons. One of the bigger trends right now is marketing through Face book and Twitter; about 41. % of Americans are active users of Face book. That is a lot of people we can market to at a basically free price since Face book and Twitter are free to use. Price sensitivity is also a major concern to deal with. If we only have high end products that are very expensive to buy you are limiting your customer demographic which will in turn lower profits. The best way to deal with this is to car ry the high end products but also carry similar products that are at a lower cost. One of the bigger concerns that we have to deal with is energy consumption. The Go Green social trend is a big thing right now and three of our big departments, Home Theater, Appliances, and Computers. These departments not only consume a lot of energy in the store but the products we sell do too. I feel that we can capitalize on this market by purchasing products to sell that are more energy efficient, and advertising these products. This can help drive up our business while also having a greener impact on this earth which looks good for our public relations. Other macro environment factors: Current technological trends have had a negative effect on Best Buys current and potentially future success. One of the main tech trends eroding Best Buys business model is the increased utility and web capabilities of smart phones. With the increased web capabilities of phones a new type of shopper has emerged known as the â€Å"mobile price matchers† (Smith). According to a recent survey conducted by the Pew Internet project â€Å"More than half of adult cell phone owners used their cell phones while they were in a store during the 2011 holiday season† (Smith). These customers routinely use their phones while in retail locations to price match, find product reviews, and/or ask friends for advice. This trend has been especially damaging to Best Buy who is a chief victim of this new style of shopping. It is not uncommon for customers to walk into a local Best Buy view a product and immediately search for reviews or better prices on their smart phones. It is possibly to use this technology to our advantage. One way is to develop a smart phone app for Best Buy that is fun, interactive, and informative. This will allow the customer to use the app to find if the product he wants is in the store, and compare it to other major retailer’s prices for the same product. The economic situation is quite possibly the most damaging thing for Best Buy. When the country, let alone most of the world, is in a recession it affects the number of customers that come into the store and the amount that they are willing to spend. In the late 1990’s and early 2000’s America was at its highest. People had more money then ever and they were looking to spend it. Then when the big recession hit in 2008 customers still were looking to purchase products but their style of purchasing changed. For a while there, a lot of customers did not care what they spent for their item, they just wanted it. Now they are looking for the best deals out there, it does not matter how they get their product as long as they get the best deal for it. This is where it has hurt Best Buy the most because they can not compete with most online store prices, and still be able to make a profit. The key for future success for Best Buy may be to offer more variety of products at a lower cost. This can help them drive more consumers to the store and make purchases. Marketing Strategy Sustainable competitive advantage: Best Buy enjoys a sustainable competitive advantage because to this date, they are the biggest U. S specialty electronics retailer. Although they are currently experiencing financial problems due to the recession a few years back, Best Buy still seems to have many loyal customers that continue to keep shopping at their stores. The reason why Best Buy contains such a sustainable competitive advantage amongst their competitors, such as Walmart or Amazon, is because it relates not only to product excellence, but customer and locational excellence as well. Best Buy has achieved product excellence through offering the top of the line products in consumer electronics. This is why Best Buy has a lot of loyal customers; they provide products with great quality and high perceived value. They know that if they buy a product from Best Buy that this product will last them a long time, especially if they buy the warranty for it. Another reason why Best Buy enjoys a sustainable competitive advantage is because they also have customer excellence. Best Buy contains a service, known as the Geek Squad, which is a group of employees that help customers with problems they may be having with their electronics. Also, customers are able to rely on the well rained employees when they have a question regarding certain products. Best Buy also has locational excellence since they have over a thousand stores both domestically and internationally. Many say â€Å"The three most important things in retailing are location, location, location. † With this many stores Best Buy is going to be an appealing choice to those other than loyal customers, because it’ll become more convenient to go to a Best Buy that is less than 20 minutes away from your house. There are plans to open up at least 100 stores by 2013 http://www. innovationexcellence. com . This will not only help with their sales, but it will also allow for more customers to become loyal to Best Buy because it’ll be convenient for them to go to their local Best Buy. Growth strategies Best Buy pursues a marketing penetration strategy. The company employs existing marketing mix and focuses the firm’s efforts on existing customers. Best Buy attempts to increase market share by using existing products and services. The company wants to attract new customers to the current target market and encourage current customers to patronize the firm more often, or buy more merchandise on each visit. In order to accomplish its goals Best Buy has to develop great marketing effort, they have to increase advertisement, sales, and promotions. For instance, Best Buy will broadcast ads on TV every time they want to advertise a new product in the store, such as the latest IPhone. The company wants their current costumers to be aware that the store is carrying new products and new costumers to know what kind of products they sell. During holidays and events such as black Friday, the company advertises their deals, so their current costumers buy more merchandise on each visit. SWOT STRENGTHS: Large amount of retail outlets in prime locations * 1,099 US best buy stores, * 6 Magnolia Audio Video Stores * 6 Audio Visions Stores, * 117 Best Buy Mobile Stores * 35 Pacific Sales kitchen and bath center Stores * Brand Loyalty * Very strong brand name * Stores are large * Flexibility exists to add new product lines due to ample space * Value adding customer service * Excellent customer service an d technological know how * Geek Squad WEAKNESSES: * Best Buy relies on vendors to supply a large percentage of products which can potentially lead to supply disruption. Example: If Sony and Apple decide to no longer supply Best Buy it would be devastating. * Weak online presence * Late start in e-commerce * E-Bay and Amazon far better online Limited product selection in OPPORTUNITY: * Capture emerging â€Å"mobile price matchers† market * Use social media to reach out to this market * Capitalize on iPhone ; Smart Phone market * Pursue the business of young bachelors more aggressively * Undervalued customers with high interest in technology * Social Media * Utilize Face book and Twitter more effectively build relationships * Going green Can lead to potential overhead savings and good public relations THREATS: * Retail discounters such as Wal-Mart and Target * Discounters are stealing electronics market share due to higher foot traffic fueled in large part to product mix * Cons umers spend more time at discounters locations because they can buy food, clothing, and entertainment under one roof * Rising trend of â€Å"mobile price matchers† * Consumer deciding to buy elsewhere while in Best Buy can prove to be fatal because it negates all other core competencies Objectives/Goals and Problem to be Addressed Based on the results of your SWOT analysis, clearly state the Problem that you are planning to address (once you have described the current situation of the company, you should be able to articulate the specific problem you want to address and the goals of your marketing plan. ) Please make sure to clearly identify your specific Objectives/Goals. Segmentation (See Chart in Index) When making the market segmentation we decided to separate it into three different segments, gender, age, and income. We chose these segments because they provide the bulk of our customers that shop at a store. Gender was first because that is the most identifiable one. It is easy to separate and calculate who is coming to the store based on their gender. Age is a big factor because we can determine the type of customers that are coming into the stores, a young person will see things much differently then an older person and they both will be looking to buy different things. Finally we picked income because it will tell us how much money people have and are willing to spend at our stores. If we have a store that is getting a lot of low income people going into it, we can not have it stocked full of products that they can not afford. Using this we were able to create a customer segment chart. (See Customer Segment chart in the Index) After making the Customer Segment chart we found that we had 18 different segments to work with. Each segment is a little different, but as a whole they make up most of the customers that shop at our stores. When looking at the chart you can see that each segment has something different. The chart covers male and females from different ages to different income levels. You can see that in segment 1 you have males who are under 17 and are in the low income, which is different then segment 4 who are the same but middle income and segment 7 who are in the high income. The information provided by the chart will be very useful in determining which segments to target, and which segments will be unprofitable so we can eliminate them. Targeting Market segments 1. Gender: Male and Female 2. Age: teenager 17 and under, young adult 18-29 and adult 30-59 3. Income: middle class and upper class Segment attractiveness It is essential for Best Buy to evaluate segment attractiveness for each of these segments. They first must determine if the segments are worth pursuing, using specific criteria: is the segment identifiable, substantial, reachable, responsive, and profitable. Identifiable: * Teenagers 17 and under have high interest for video games and cell phones. They are aware of the new technology innovation but don’t really use complex ones which might be to high-tech for them, therefore Best Buy will have to take in consideration that they might not be able to know how to use a MacBook Pro as a young adult would. Young adults 18 to 29, such as college students, are more open to try new technology which would later build up in lifelong brand-loyal customers. As a result Best Buy always tries to keep up with the latest technology, offering the newest version of Mac laptop or the last android. * Older adults age 30 to 59 tends to stay with products they are accustomed to. They have difficul ties getting used to new technology or do not have the actually time to keep up. Older adults have long working hours or have children to take care of; they do not really have time to used new technology. Most even have to rely on their children in order to know how some electronics around the household work. Best Buy should also consider the differences in incomes among the classes. They should divide customers by their incomes in order to provide services and products that are affordable to all. We consider middle and to upper classes since they are the ones who can purchase higher priced electronics. The middle class which is price sensitive makes between 30,000 to 50,000 dollars a year. They have the ability to purchase electronics such as computers, cell phones or TVs but only at affordable prices. In the upper class, customers are ready to pay high prices for high end goods. However we wouldn’t target gender because it just represents one segment. Best Buy doesn’t sell one type of product that attract men and another that attract women; they do not focus on gender differentiation. For instance they are no special gadgets or section for women in the store. Substantial: This criterion consists on measuring the target markets. If a market is too small it is insignificant and it will not generate sufficient profit. If it’s too big it might need a bigger store. In this case we should consider the segment of Loyalty; loyal consumers are lifelong customers which make them a substantial segment. Most loyal consumers are those living near the location. For instance it would make more sense for a customer to go grocery shopping at a Vons store that’s 2 miles away and become a regular customer, than drive 20 miles to an Albertson store. Database such as census. gov can be really useful to determine how many people live in the area or how long they have been living in that area. For instance 1,068,344 people in Los Angeles have been living in the same house since 2005, which is 33. 2% of the population in Los Angeles. So this means that some of the 33. 2% might be loyal customers to their local store. We wouldn’t consider occasion consumer because they don’t represent a large enough market segment. Since they are not a usual customer it is hard to consider them as a significant segment. Video game companies always promote a new game, and teenagers like to be up to date and purchase the latest one, which is profitable on the long run. Young adults also represent lifelong consumers, since they are interested in technology innovation. For instance college students like to purchase new gadgets to work on their school work or just to stay in touch with their friends, classmates or family members. It would be a good idea for Best Buy to use census data to allocate to younger consumers. Reachable: It means that the consumers know the product exists, understand what it can do for him or her and recognize how to buy it. It is essential for Best Buy to care different types of technologies at different prices. Their product must attract all ages and be affordable for all Incomes. Different items are offered at different prices, which means everybody can afforded regardless of their incomes. * Middle classes are price sensible, they want to own technology but at affordable prices. It is easier for a company to reach them during sales and holidays, where they purchase items in large county, buying for family member, friends or just for the good deals. * Upper classes are easily reachable; they want to get high end products and are ready to pay the price. They usually want to purchase the latest high-tech product, new IPhone or biggest 3D TV. They are mainly up to date and are aware of new innovation through the different media outlets. Both young and old generations should be aware that Best Buy caries different types of technologies. For instance phone with lots of different applications and new innovations. Such as the iPhone, it attracts younger crowds, whereas less complex gadgets mainly attract an older crowd. * Teenagers and young adults are usually aware of the latest technology and where to purchase them. They have easy access to media; they follow TV and internet ads. Moreover, young generations share information among each other talking about the latest Apple computer or Android. * Older adults found out about new technology or where to purchase them from their children, friends or coworkers. They are also easily reachable; they have access to internet, TV or older media such as newspapers. Loyal consumers are the most accessible; stores mainly collect their information; email addresses or phone number. It makes it easy for the store to send them ads about new products or inform them about a sale on existing products. Loyal consumers also frequently come in the store to check on new product or get information about items they want to purchase. Responsiveness: The customers in the segment must react similarly and positively to the firm’s offering, move toward firm’s product and services and accept the firm’s value proposition. It is easy for a company to measure the responsiveness of loyal consumer, since loyal consumers are highly responsive to a company’s product. They have learned to appreciate what the firm has to offer and accept their value, which lead them to become usual. Companies have to make sure they can properly respond to their consumer needs and wants, if they can’t provide them with the product they want, they shouldn’t target them. For instance, Best Buy would probably fail if they decide to sell bridal gal to attract more female customers. Best Buy is known to offer technological products and their consumers come in the store looking for electronics. They would be confused to see an electronic store selling bridle gal. Teenagers are highly responsive to new technology, they always want to upgrade to newest and fastest gadgets. For example if new video games come out, teenagers are the first to line up at the store and purchase it at any price. Young adults are open to trying new technology, therefore it would be easier to get them positively respond to new innovations. They are the early adopter of new media and technology. The middle class are price sensitive; however they are open to spend money when the deal is right. They are more responsive during sales period, such as black Friday and holidays, such as Christmas. They are big spenders compared to the upper class; which according to the book â€Å"The millionaire next door† put 20 percent of their money into investments and savings accounts. During sales and holidays the middle class purchase in large quantities, as they find the best deals to buy for family and friends. Nevertheless the upper class is still responsive to new innovation; they want to possess the latest technology no matter the price. They like to purchase luxury electronics that provide the experience and the comfort that high-tech has to offer. Profitability: Market segments that generate profit Teenager: According to the U. S census Bureau, there are 247,215 out of 3,772,486 people in Los Angeles who range from 10 to 14 years old, which is 6. 6%. 273,419 out of the same number are between the age of 15 and 19, it represent 7. 2%. let say out of the 520,634 teenagers 10,000 (2%) play and purchase video games on regular bases . The average video game at Best Buy cost 19. 99$. Video games are realize every 5 to 6 days, which mean there is a realize every week. We will consider they purchase the video game every 2 month when they receive pocket money. Variable cost would represent 1/3 of the price sold 6. 66$. Best Buy spend 10,325,000 on fixed cost a month and they have 1099 stores which means each store spends 9,394. 90$. It is 112,738. 80 a year Segment size 520,634 X Segment adaptation percentage 2 %X Purchase behavior (19. 99*6) X Profit margin percent (19. 99-6. 66)/19. 99 -Fixed cost 112,738. 80 = 724,022. 08 Best Buy would make a profit of 724,022. 08 a year by selling video games to teenagers. Middle class: 176,674 out of 1,314,198 household in Los Angles make between 35,000 to $49,999 which is considered as middle class income. Most of these household spend a large quantity of money during holiday. Especially during Christmas on gift items, which mean they would purchase them 2 a year IPad is really famous not only among children but also adults. It is a great birthday or Christmas gift. Let say 500 of this household purchase iPads, at least two iPad per household either own by two children or one child one adult or two adults. 100 iPads. One iPads cost 499. 99$. The variable price is 259. 60$. Segment size 176,674 X Segment adaptation percentage 0. 3 %X Purchase behavior (499. 9*2) X Profit margin percent (499. 99-259. 60)/499. 99 -Fixed cost 112,738. 80 = 141, 66571 Upper class: 62,319 out of 1,314,198 household make between $150,000 to $199,999, they are the Upper-class. They like to purchase brand new electronics as gift or because it is the brand new model. We will consider 3 purchases a year; birthday gift, holiday gift and the realize day for the brand new model. 5000 of the 62,319 household purchase iPads the same year. Upper class family usually do not have a lot of children, high income just represent 5. % of the working class with families. They buy 5 of them a year, 2 birthday gifts for children and wife/husband, for they realize of the new model and Christmas gift for friends and family 2. Segment size 62,319 X Segment adaptation percentage 8 %X Purchase behavior (499. 99*2) X Profit margin percent (499. 99-259. 60)/499. 99 -Fixed cost 112,738. 80 = 2,280,262. 94 Best buy would definitely make a higher profit if they target the upper class for the sale of IPad. Market targeting strategy We will use the Differentiated (segmented) marketing as our market targeting strategy. Differentiated marketing strategy is a market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each segment. This strategy is the most appropriated for Best Buy since its goal is to target specific market segment. It wouldn’t make sense for them to practice an undifferentiated marketing strategy, which involve ignoring the different segments and going after the whole market. Moreover, Best Buy is a retailer of consumer electronics, which means they sell all types of electronics coming from different brands, they are already able to provide the consumer with a wild varieties of brands. By using the differentiated marketing strategy they can assist all of their consumers regardless of their preference, income or age. They would provide them with the exact product they want. This strategy is also profitable in the long run, helping build up lifelong consumer. The consumer is able to get the product that he wants and also has varieties of other options, which gives you an advantage over your competitors. The practice of concentrated marketing strategy will not allow Best Buy to have the flexibility to offer different electronics, this strategy only concentrate on a single target market. Micromarketing strategy wouldn’t apply to Best Buy because it only focuses on satisfying the need and want of a single consumer, whereas Best Buy groups his Customers within segments. Perceptual Positioning Map (See Index at the end) Positioning: One of the reasons Best Buy has been so successful over the years is because of its brand loyalty. We believe that this was created from the good customer service that we provide and the relatively low prices we maintain, as you can see from the chart. Some of our competitors have lower prices than us but the ones that do tend to have poor customer service. One of the biggest concerns that we as a company have to worry about is the low prices that Wal-Mart offers. As the economy continues to be in a recession people are looking for the best price possible as they have to be thriftier with their money. Wal-Mart has dominated the low price position for years and it will be very hard to compete with the prices that they offer. One of the ways to compete with them is our price match guarantee, that way if they have the exact same product at a lower price we can keep our customer by matching the price. Another concern that we may have is with Apple. They have built one of the strongest customer loyalty companies in the world. People are willing to spend more money on Apple products and services just because of the strong brand name that Apple is. Even now that Best Buy is offering Apple products in our stores people will still choose an Apple store over ours. We believe that that main reason for this is the customer service that Apple has provided over the years. They are known for having some of the most advanced technology in their market. For us to gain the loyalty that Apple has we will have to focus on meeting all of our customers’ needs. Most notably the place on the map we would like to be is at the lower right side at low price and high customer service. This is a position that is not covered on a map that there will be a wide open market for. Target, Wal-Mart and online stores such as EBay are able to offer lower price on many of the products that we sell, but they do not provide the quality of service that we do. If Best Buy can keep or even improve its customer service while at the same time lowering many of our prices, we can open the doors to a much larger market. The best position to be taken by Best buy would be one of cheaper prices and better customer service. Now it is true that Best Buy has fairly cheap prices already and with Geek Squad they have fairly good customer service but my belief is they need go further with what they have already accomplished. Given the facts and findings there is an entire untapped market of lower priced products and great customer service that would be incredibly lucrative. Now the obvious reasoning behind why there is an untapped market in this area is the financial problems. There isn’t an easy way to have cheap products and great customer service because of the fact that customer service is expensive. However there is one way to successfully do it. As stated earlier they need to target their ideal markets better and literally know when a customer walks in where he or she would be best suited to go and make that area the most appealing. Maybe give the areas themes that would attract the ideal market. The next thing that they would have to do is steal customers away from places like Wal-Mart and Apple because it is the fact that they are loyal to those companies that is the most damaging to Best Buy. Now granted this would not be the easiest thing to do. They would have to consistently promote cheaper products and better customer service. After they have done that however, the number of customers that they have would make up for the cheaper prices, the increased customer service, and the advertising (in theory). And if this is successful they would have gained access to an un-tapped market where they literally could not be touched, because no one could compete with them. The way the company is currently focused is on targeting wealthier customers. Our store associates are trained to spot customer demographics in the middle to upper class and push our products to them. In many cases this can cause them to focus too much on a one demographic and leave out great customer service to other social classes. If we change our position and start offering similar products at a lower price than our high end products, we will attract the thrifty spenders to Best Buy. So by offering these products at lower prices but still providing top notch customer service we can see a large growth in customer loyalty. The most important thing to this is to treat the lower income families just as well as we would treat the higher income families. This is where places like Wal-Mart and Target fail, they offer the better bargains but it is hard to find good help from an employee when you go into the store. Marketing Mix Products and Services Best Buy is currently one of the last major consumer electronics retailers out there because they provide a wide variety of products that customers can choose from. Since Best Buy sells everything from televisions to refrigerators, which are two completely different appliances, what more can Best Buy offer? Instead of introducing new products, Best Buy should consider offering cheaper prices for their current products in order to attract a different group of customers. Currently, Best Buy is more focused with attracting the wealthy consumers by providing them with products such as the iPad and Blu-ray televisions to keep those customers interested and loyal to their company. By offering cheaper prices, this could allow the middle-/lower-class to be able to attain great quality products with affordable prices. Since our marketing positioning is to target those customers with lower incomes, what better way to do so than lowering their prices on certain products to show that Best Buy products are great and affordable for everyone? As far as their products are concerned, the main modifications they need to make to existing products is providing a wider range of video games and gaming systems. Since the younger generation is becoming more accustomed to using electronics at such a young age, it might be an advantage for Best Buy to sell more video games, which will in turn attract the younger audience to convince their parents to bring them to the store. The company will not only benefit in bringing in the younger crowd, but will also bring in their parents, who will more than likely become attracted to the big screen televisions and wide range of laptops that Best Buy has to offer. Also, Best Buy should consider hiring qualified employees for the Geek Squad in order to minimize customer complaints. Since this service provides customers with assistance for their broken electronics, some one who has background knowledge and has had experience fixing broken laptops, cameras, etc.. should be the one assisting them with their problems. The Geek Squad is known for hiring employees who have not had past experience with fixing broken electronics. Although the Geek Squad does a good job, customers will be more comfortable knowing that the â€Å"geek† helping them with their broken electronics is someone who knows what they are dealing with. Best Buy provides many products for their customers, some that even some people wouldn’t expect for their store to provide. For instance, the company should consider dropping the home appliances section because since Best Buy is known more as an electronics store, kitchen accessories such as refrigerators and microwaves seem to be products the company is selling just to make extra profit. From past experiences of visiting the store, the home appliances section is always either empty or with very few people taking a look at their washers and dryers. Most of Best Buy’s customers are concerned with the laptops and televisions, and to sell kitchen appliances doesn’t go along with the â€Å"entertainment† feel that Best Buy provides. Also, now that technology is improving and more people are switching to buy Blu-Ray televisions, Best Buy should consider dropping the VHS section. Since people are learning to adapt to the new technology, more customers are interested in buying Blu-ray DVD’s since they provide better quality than VHS. Pricing In the consumer electronics retail business having competitive pricing is of the utmost importance. This is due in large part to the ultra-competitive nature of the electronics business. Consumer electronics such as new TVs and the latest computers/tablets are highly desired by the masses. However, these items tend to be highly elastic in there demand, making pricing a key component in attracting customers. Furthermore, in today’s consumer electronics market many major retailers regardless of specialty carry consumer electronics, making it possible to purchase socks and a computer all under one roof. Moreover the emergence of e-commerce has made it easier than ever to perform real time price comparisons. The growing practice of online price comparisons has given online retailers who benefit from lower overhead costs an advantage, because they possess the ability to offer low prices along with a massive selection. Taking the preceding factors into consideration it is clear that the importance of being price competitive is greater than ever. As a result we have conducted a price analysis of Best Buys top selling product lines. The retailers compared to Best Buy in this nalysis are Amazon, Wal-Mart, and Target. The products to be compared consist of top selling T. V. ’s, Tablets, Laptops, and Mp3 players. T. V. Price comparison: Televisions have been of Best-Buys top selling product lines for years and a vital component of any future success. It is important that Best-Buy continue to dominate television sales if we hope to remain atop the consumer electronics retail mountain. Continued dominance in television sales will be a problem. Due to increased competition from retailers who now offer a host of televisions for sale, Best-Buy is losing market share. Because consumers are more likely to frequent Wal-Mart and Target for every day purchases such as soap, it is important to convey value through pricing when customers enter our doors. Our price survey shows that Best-Buy continues to be highly competitive on television prices. For example, a Samsung 51† (PN51D450) television can be found at Amazon for $697, but Best-Buy and Target are not far behind at $699 and Wal-Mart is priced highest at $799. Amazon beats Best-Buy by 2 dollars but the added convenience of in-store pickup outweighs the slight price difference. Generally Best-Buy is the lowest price if not it is very close to its competitors. The television price strategy is spot on. However, offering a one-time sale of loss leader 32† could go a long way in establishing Best-Buy as the go to retailer for television purchases. Tablet price comparison: Tablets are the hottest devices in the electronics market today. Tablets continue to rise in popularity and it is likely that they will eventually replace laptops as the device of choice for mobile computing. Because of tablets rising popularity it’s important for Best-Buy to capture market share in this product line. The best-selling tablet and industry leader is Apples ipad3 this product is currently offered by all of Best-Buys competitors at the same price across the board. It is unlikely that any retailer will ever have a price advantage on Apple products. Next in line behind the iPad is the asus eepad, this tablet has the potential to one day compete with the iPad. Best-Buy offers the eepad at the lowest cost on the market at $349; Target can match this price but struggle to keep stock levels up. Amazon and Wal-Mart offer the eepad at $359 and $379 respectively. Offering the next best option to the iPad at the lowest cost puts Best-Buy in an excellent position to capture market share. Laptop price comparison: Although tablets continue to increase in popularity the staple of mobile computing continues to be the Laptop. The versatility and portability of Laptops have kept it in high demand. It is likely that tablets will not possess the computing power to replace laptops anytime soon because of this Best-Buy must remain a major player in this market. A price comparison of laptops shows that this is an area Best-Buy can improve in. For example, HP 17† dv7-6c90us laptop is priced $1029 at Best-buy, but is $959 at Amazon. The price difference is between Best-Buy and Amazon is $70 in favor of Amazon. A savvy consumer armed with a smartphone can quickly discover this, and it is highly likely that Best-Buy would lose this sale. Large price discrepancies such as this one hurt Best-Buys reputation in the long run. Consumers are quick to share the news of their cost savings with friends and family which will in turn make them less inclined to look towards Best-buy for electronics. The loss is two -fold, because not only did Best-Buy lose the sale but it also lost the opportunity to capture the most powerful form of advertising; word-of-mouth. Best-Buy must drop its prices on laptops to the point where they can beat Amazon who consistently sell laptops at a lower cost than Best-Buy. (See Price Chart in the Index) Place Best Buy has a few of different forms of distribution. The first is in-store shoppers who physically come in the store and purchase the products. Our stores need to make sure that we have a full inventory for the product that our customers are looking for. To do this we have to have a good computer program that keeps track of our inventory, as well as near by stores inventories, and the distribution centers inventory. With this information we can tell customers about another store that may have their product. Or we can specially order it from the distribution center and give them an accurate time of when it will be delivered to our store for them. The second distribution strategy and the most important one for our companies growth is our online store. Distribution for www. BestBuy. com needs o be fast, efficient, and available for our customers to make their purchase. Online shopping will allow customers to purchase the products without ever having to step foot on  a sales floor. With the purchases made online they can have the products shipped to their homes, or they can choose in-store pickup (which is free) where they have the option to possibly get the product that day if it is available. The third distribution strategy is the Be st Buy vending machines found at Airports and major hotel chains. These vending machines will hold small electronics for customers to purchase. They can hold many things such as gift cards, pre paid cell phones, ear phones, mp3 players, and even movies. What is important about these is it will provide a strong advertisement for the Best Buy brand for new customers traveling the world, who might not know what Best Buy is or experienced one yet. The biggest change that needs to be made with the Best Buy distribution strategy is how many physical stores there are in America. Back in 2006 Best Buy was on top of the world when it came to consumer electronics and we over expanded in America. As the recession hit like everyone else profits began to drop. By having too many stores costs were now a lot higher and revenue was a lot lower. So in America we should actually be closing down stores that do not have enough of a demographic to keep them running and profitable. But the international expansion should continue as a slow and steady process. This way we can find out where our company works and where it doesn’t. The biggest area of need in our supply chain is how fast we can get products to our store that are shown online, but are not physically in the store. There are many customers who see a product on the website but do not purchase it there because they want to actually see the product before the purchase is made. It is important to be able to get that product to the store as soon as possible to help the customer make their purchase. To do this we have to have a distribution center that can process our request that minute so we can get the product to the store within the next day. The best way of doing this is running a real time processing program that is connected to all the distribution centers. When the order is placed the program will find the product and the fastest way it can be shipped to the store. Advertising and Promotion Our Best Buy advertising message is â€Å"Help you get more from your technology†. This message best conveys the image of our company. Best Buy focuses on providing the best customer service possible, through training. Our employees acquire a vast knowledge of the different technology in the store, so they can better assist customers and help them get more from their technology. We also assist our customers through our technology and repair department, Geek Squad. Geek Squad offer services such as TV and computer home setup. The goal of our company is to help customers choose the right technology based on what they are looking for. For example there are a large number of customers coming in our store looking to purchase a computer but they do not know exactly which one to get. Our employees help them identify the right brand and model, based on their interest and taste. The advertising Medias that we have chosen are Television, Newspaper, Internet and direct Mail. Each of these mediums have specific characteristics that make it suitable for meeting specific objective. 1. Television offers a mix of visual and auditory techniques and it provides a wide reach. Television advertisement allows us to both show our products and verbally talk about it. Best Buy has a wide reach; they can reach usual customers as well as potential customers. TV helps us catch the attention of the audience and then reinforce their retention rates by repeating the message. TV has a mass appeal, individuals watch television for different reason: to watch a movie, the news or any other sports. People from different segments watch TV, which helps you reach a large variety of individual with different background. Moreover, well done TV ads are appealing to the audience. For instance, every super bowl viewers not only looking forward to watch the games, but also the commercials. They want to witness the latest creative Super Bowl commercial, it can help build up a loyal customer base. 2. Newspapers offer flexibility, they are timely and help you localize a precise segment. Newspaper Ads can easily be modified to adapt to changes. They are also timely which means they are more affordable deals than TV Ads, since they are usually advertised once in a while. Newspaper Ads allows you to target a certain segment of customers. There is a certain demographic that reads the Newspaper such as older adult or intellectuals. Moreover, most people expect advertising in the newspaper, some even purchase it for the advertisement and the deals they offer. Newspapers allow you to communicate certain extra information such as a telephone numbers or price. It also helps you offer deals such as coupon which couldn’t have been possible on TV. 3. Internet can be linked to detail content. An internet Ad on any webpage will link the customer to the website of the company if he clicks on the Ad. It allows the company to provide more information about the product to the potential customers and promote other products or just the company itself. Internet offers a vast reach; it allows a company to promote their product on a wider market. A good medium would be social network website, such as Facebook or twitter. These social networks provide the ability to reach an international market. Moreover, social networks allow a company to interact with their customers. They can post feedback on the company Facebook wall or suggest ideas on their twitter page. Internet also offer flexibility, you can change an Ads any time or add extra information. Internet advertising offer targeting method that allows you to reach a specific segment, those who see your ads are the ones most likely to buy. 4. Direct mail is highly targeted, it focuses on a specific segment, mainly the consumers who purposively signed up for them or are frequent costumers. It is a useful medium to send sale advertisements to customers and promote new products as well. The company has a direct control over who they are targeting and which product they are offering. A letter can be personalized via mail-merging techniques and you can also use a more informal language in writing your Ad. The company can develop graphics and design the way they want, they don’t have to go through newspaper regulations. Best Buy chooses to focus more on reach. Reach allows a company to build product awareness. Since Best Buy is a retailer of consumer electronics, we get different electronics coming from different companies on a regular base. These different items include new models of the previous technology. We need to inform costumers of the new product entering the market. Most of the companies that come up with a new product, do not want to spend a lot of money on advertising the product on the different advertising Medias, therefore Best Buy is the one who was to promote the new product. The goal of our company is to reach a broad audience; as a result we promote our new product during major sporting events and holidays. During a major sport event, such as the super bowl, there are a large number f people who turn in to watch the game. And as we said earlier some are as eager to watch the commercials. Holidays are also a perfect time to promote a new product because people are looking for presents to give to their loved ones. Consumers are looking for inspiration everywhere, mainly through TV Ads, magazines, or newspapers. Companies want to persuade the costumer that their latest Smartphone is the best Christmas gif t for their teenager, or that the brand new MacBook pro is the exact gift their husband was dreaming of. Costumers are more likely to trust a holiday Ad than any other, they don’t have the time to think of an original gift and they mostly believe the Ads stating that â€Å"this is the hottest items of the holiday, a must have! † Reach is also useful for a product with long purchase cycle. Since Best Buy sells electronics, all the Items have a long purchase cycle. People buy phones, laptop, TV, video game once in a while. They usually purchase new ones after a year or so. Our main advertising objective is to remind. Reminder advertising is a communication used to remind or prompt repurchases, especially for products that have gained market acceptance and are in the maturity stage of their life cycle. According to www. twice. com Best Buy is the No. 1 retailer on this combined list of consumer electronics and major appliance retailers in the United States. Our company has gained a market acceptance coming before stores such as Wal-Mart and Sear’s that are usually known for their low cost. Best Buy’s goal is not to promote lower cost but quality which is promoted through our customer service. Best Buy believes that customer service is the key to provide a quality service and build up customer loyalty. Therefore our company provides training to all of our employees working on the floor, we teach them how to interact with a customer, and we provide them with the sufficient knowledge about the different gadgets in the store so they can give better advice to the costumer. Our advertisement mainly focuses on the quality customer service that we offer. We want to remind the costumer, why they always chooses us first in retail electronics. Best Buy has established an image of professionalism, knowledge and assistance through its customer service. We want the consumer to know that he is in good hands every time he comes to one of our store. Best buy uses information appeal to portray its products and persuade consumers to purchase them. Our company uses factual information and strong arguments to attract consumers. We want our costumer to evaluate our products on the basis of the key benefits they provide. Best Buy offers different high tech products that are sometime really complex, so it is in our best interest to inform our customers on how to use those products. For example, Apple iPhones offer and develop new features that might be too confusing for our regular costumer, so Best Buy develops Ads that explain to costumers how to use them. Our goal is to improve our customer knowledge; therefore they can enjoy the entire attributes their new gadget has to offer. Consumers are more willing to buy a product that they understan How to cite Best Buy Marketing Plan, Essay examples

What Is Leadership Essays - Leadership, Social Psychology

What Is Leadership? What is leadership? Leadership is having the ability to give guidance to those that will follow. Those that follow will help to complete the mission. Leadership is an immature science and the body of knowledge in the field has developed through a series of fits and starts. Leadership is a soft science, just as anthropology, sociology and psychology. It can not be proven exactly what it is. Leadership is an art, the skillful application of leadership behaviors beyond techniques is much the same as the skillful application of brushstrokes by a master painter. Leadership is both rational and emotional. It involves both sides of human experience. It includes actions and influences based on reason and logic as well those based on inspiration and passion. Leadership is a social process shared among all members of a group. Leadership development comes through experience. We all learn from our different experiences. Whether positive or negative, they are our tools for growth and development. What is management? Management is a position of authority. Management says what need to get done and supplies the material to get it done. Management tends to be the more educated than the experienced. Managers can be trained to hold a position. Management is a position of leadership. Can leadership and management be the same? Leadership and management are not the same. Anyone can be a manager and not have any followers. Being able to manage is knowing the aspects of a mission. A leader knows the aspects, has the knowledge and the skills to accomplish the mission. But leadership and management work hand in hand with each other. The management sets the stage and the leadership makes it happen. Leadership is a human relationship process. No scientific method can be used for testing leadership. Leadership is based on human factors and no two humans are the same. Managers are not only interested in status quo, but also production, expansion and growth. Management was a system to contro l machines. Leadership can never be controlled. Where one sits in life determines what you see. To be a good manager one must look at views from different perspectives. As situations change, leadership relations change. Leadership cannot be transactional. It can only work if both parties keep their agreements. A class survey was held to compare leaders to managers. The overall opinion was that they are similar in many ways. A leader and a manager can be one in the same. The difference between a leader and a manager is that a manager directs and a leader motivates. Leaders make the rules. Managers enforce the rules. Leaders make the policies. Managers enforce the policies. When both are doing their jobs, they are performing their leadership roles. Leaders inspire and managers are effective. Leaders innovate. Managers administer. Leaders look at situations in a long-term view. Managers look at situations in a short-term view. Leaders ask what and why. Managers ask how and when. Manage rs accept the status quo. Leaders challenge the status quo. Managers do things right. Leaders do the right things. Leadership is a process that includes managers. If you look at leadership, you will see good management at work. Leadership and management work hand in hand with one another. They both need support from each process in order to achieve its goals. Leadership is not just based on the leader. In assessing leadership you must look at the leader the follower and the situation. One must do an assessment of the leader. Assess the reaction of what you expect from the follower. Look at the situation and environment that surrounds the whole concept. A leader is a servant to his followers. The followers must also serve the leader. Both must serve their common goal. Leaders have nothing to do with leadership. Leadership is 100% service and 100% partnership. To maintain good leadership, one must keep good relationship between leaders and followers. Leadership and follower-ship are b oth like a two way street. You must give respect both ways in order to have good relations. Followers will follow someone they respect, just as leaders like to lead someone who they respect. There are different types of followers. They are alienated followers, conformist followers,