Motivation and Flight Centre Staff

Motivation and Flight Centre Staff Introduction Flight Centre is one of the world’s leading travel agency organizations. Headquartered in Australia, Flight Centre has branches in the US, UK, Canada, and New Zealand. It offers a wide variety of services in the air travel industry. Flight Centre has nearly 10,000 staff, and motivation of such a vast number of workers in different countries and continents requires different motivation techniques.Advertising We will write a custom assessment sample on Motivation and Flight Centre Staff specifically for you for only $16.05 $11/page Learn More The motivation techniques used for Flight Centre workers in these different areas should take cognizance of the form of work done by the employees, the environmental surroundings, and the employee needs and thus cannot use identical motivation techniques. Maslow’s Motivation Theory Maslow’s motivation theory states that the desire to fulfil unmet needs drives and motivates human beings in whatever they do. Maslow’s hierarchy of needs presents the basic human needs as being â€Å"physiological, followed by safety needs, social needs, and then esteem needs† (Berl Williamson 1987, p.53). When all these needs are satisfied, an individual is then able to attain self-actualization. As an all-encompassing theory on motivation, Maslow’s motivation theory applies to Flight Centre staff across the board. All the employees of Flight Centre, across the different continents, need to have their basic physiological needs met, regardless of rank or position in the organization. Therefore, Flight Centre employees will be motivated when the organization meets their basic physiological needs such as food, shelter, and education through proper and appropriate remuneration. Furthermore, Flight Centre employees involved in actual travel, in the process of transfer of documents and delivery of packages between Flight Centre and its clients, will be motivated by havin g their on-the-job safety needs catered for. Therefore, in a general sense, Maslow’s theory of motivation can apply across the board for employees of Flight Centre insofar as their motivation is derived from the satisfaction of their basic physiological and psychological needs. Incentive Theory and Flight Centre Employees One of the best motivators for workers and employees worldwide is adequate remuneration for work done. B.F Skinner’s incentive theory states that, when positive behaviour is rewarded, the behaviour is likely to be repeated. Therefore, through tangible and intangible rewards, employees can be motivated to perform to higher standards. One of the most common incentives for motivation is higher pay. When employees realize that they can receive better pay by performing their duties to a higher standard, they are likely to strive to achieve these standards.Advertising Looking for assessment on business economics? Let's see if we can help you! Get y our first paper with 15% OFF Learn More Therefore, the Flight Centre employees in the different countries can be motivated through receiving competitive salaries and wages. However, different sets of employees are motivated differently. For instance, those working for Flight Centre on short-term contracts may be motivated to put more effort and skill in their work in order to obtain permanent employment terms. Staff in managerial positions may be motivated with rewards of higher job titles and definitive managerial positions. Overall, the creation of reward schemes within the internal structure of the organization provides adequate incentive to motivate employees to work at levels that are more intensive. Schemes that create an award for employees every month – â€Å"Employees of the Month†, and other such continuous reward schemes, can be an integral source of motivation for Flight Centre employees. Goal Setting Theory of Motivation and Flight Centre e mployees The goal setting theory states that, employees can gain motivation and interest in their work when they develop clear goals to be achieved within specific periods. The Goal Setting theory, when applied to Flight Centre employees, may involve setting goals for the different cadre of employees. For instance, employees involved in the actual advertisement and recruiting of clients for Flight Centre may set goals on the number of new clients they can attempt to bring in for the organization each month or year. Employees involved in the daily interaction with clients (for instance Front Office employees) can target to reduce the number of negative feedbacks by clients. Similarly, the senior management can set goals on reducing the number of employee turnover annually. When such goals are set, the employees have clear targets that they can strive to achieve, and therein find motivation for their jobs. Since Flight Centre has branches in different countries, the goals set by these different branches should factor in the national, gender, cultural, and environmental factors wrought by the different locations. For example, a flight centre branch in Asia, which has collectivist cultures, should be careful to set goals that promote overall cooperation between employees since individualistic goal setting and achievement is frowned upon in Asian countries. Conclusion In conclusion, as discussed in this paper, Flight Centre cannot use identical motivation techniques in all its branches and activities. Since Flight Centre is an international organization with branches in different countries across different cultures, each Flight Centre branch has a unique set of employees and functions. The motivation techniques applicable in these branches will thus vary, considering the nature of the work involved, the type of employee in need of motivation, and the type of motivation appropriate. Reference Berl, R., Williamson, N., 1987. A Review of the Content Theories of Motiv ation asAdvertising We will write a custom assessment sample on Motivation and Flight Centre Staff specifically for you for only $16.05 $11/page Learn More They Apply to Sales and Sales Management. American Business Review, 5(1), pp. 53-58.

Marketing Mix Paper Essays - Marketing, Brand Management, Business

Marketing Mix Paper Essays - Marketing, Brand Management, Business Marketing Mix Paper Marketing Kudler Fine Foods MKT/421 July 8, 2013 Dr. Mark Vitale Marketing Kudler Fine Foods In the current retail food industry there are numerous competitors struggling for the same dollar. It is vital for each business to recognize their target market, recognize their competitors and then put together their marketing plan. The information below will detail Kudler Fine Foods marketing strategies which consist of increasing its services, improving its effectiveness of the business and increase consumer purchase cycle. This paper will also talk about areas where Kudler Fine Foods needs to expand their market research. Kudler fine food is a store that markets fine foods and needs to bring about increasing their goods to the community. Kudler feels by improving the business operations can determine the store increase and effectiveness and the demand of its clientele at a higher quantity of buyers. In taking a look at the demographics and the consumer behavior and who are the major consumers out there, and what do their purchase decisions are. The importance of the marketing research is not only used for the purpose of knowledge, but it is also a critical component needed to make good decisions for the company. It will allow the company to advertise goods and services. A strategic marketing plan by, deciding what the overall objective of your company should be in. Kudler Fine foods are in a very excellent place to stay dominant in the grocery store path and increase their sales quantity by adding more stores in different places. Consumer behavior essentially refers to how and why people make the purchase decisions they do. Marketers strive to understand this behavior so they can better formulate appropriate marketing stimuli that will result in increased sales and brand loyalty. There are a vast number of goods available for purchase, but consumers tend to attribute this volume to the industrial world's massive production capacity. Rather, the giant known as the marketing profession is responsible for the variety of goods on the market. The science of evaluating and influencing consumer behavior is foremost in determining which marketing efforts will be used and when (Reference for Business, 2013). This helps the marking business in making the best decisions and the rights decision for Kudler fine Foods to promote business for the store. Kundler Fine Foods gives the highest quality to it a customer thats why it is so important to continue to give the customers what they need and want. Furthermore by not doing the research how will they evaluate their company and know what the customers should focus on in keeping the customers happy and coming back. From researching Kudlers Fine Foods will give a full description of supply and demand of their goods and make public to the competitors that are in the market of fine foods. Then there are other smaller markets that are comparable such as Sprouts, Trade Joes, and other community markets that can be competitors to Kudler. By researching this it will help to divide in a different class of markets. Differentiation strategy will give the consumer a choice an integrated set of action that the company can designed to produce or deliver goods or services that customers perceive as being different in ways that are important to them. In researching customers needs and what they want gives Kudler Fine Foods an upper quality for competitors. The gross sales for Kudler were over $10 million but when researched their net income was only $700,000 and the reason was of the operating cost. Kudler may not have the resources to launch advertising for the company because problems have occurred because of the lack of experience to the target market. Kudler needs a target market to allow the company to focus on marketing dollars and brand communication on a exact markets that is more likely to buy from than or other markets. This is a much more reasonable and efficient, and successful way to make potential clients and generate business. Kudler chain of stores makes them a distinguished factor in the market. This is why a lack of customers will have a huge affect on the growth of the company because of the decrease of the sales in the company. Research will help

External and Internal Environments Research Paper - 4

External and Internal Environments - Research Paper Example Social and technological factors are the most important segments of the general environment affecting the fashion industry. Consumer factors like lifestyles, tastes and trends are the most critical within the fashion industry. For clothes to sell, companies ought to create designs that are in tandem with society’s preferences. Therefore, they need to study and analyze demands and patterns that exist at the time. This issue has affected Zara substantially because it has had to follow fashion trends closely during its entire period in operation. In order to stay in vogue, the company often sends a team of designers to fashion shows in Milan, London and New York. It also expects its team to read through fashion magazines, blogs, and other websites that discuss the latest trends. The organization also analyses daily sales data for all products sold in its retail stores. It liaises with buyers to determine what they might like to see within the stores. Therefore, it is a leading fashion retailer owing to its high awareness of consumer tastes and preferences (Crofton and Dopico, 2007). Technological factors also affect businesses in this industry tremendously. This may affect a company’s ability to get products to consumers quickly. Technology also introduces new sales models that may reduce brick and mortar sales. The growth of online selling has affected numerous organizations positively and Inditex is not an exception. It has used this opportunity to sell its products to individuals in relatively distant countries without having to invest in brick and mortar stores in those locations. Technology also facilitates rapid communication between customers and other fashion sellers thus making individuals more aware. Inditex’s business also depends on rapid gathering of information from its consumers. This has been possible due to the

Changes in Social Lending Essay Example | Topics and Well Written Essays - 250 words

Changes in Social Lending - Essay Example dit permits very underprivileged people to insert themselves into projects that are focused on self-employment— with a view of generating some income. Yunus provides loans through his controversial bank, Grameen Bank—which makes him a pioneering single leader. Grameen Bank based in Bangladesh lends money through solitary groups. The bank’s approaches targets solitary groups as its prime building block. Further, the use of this technique has clearly had a significantly positive effect upon many prospective borrowers. Without Grameen, the financially handicapped wouldn’t have dared borrowing at all. I mean, to many of them, borrowing would figuratively be building castles in the air. Be that as it may, the determination to warranty that all members of solidarity groups are equally poor is inconsistent, and may not always improve the group performance at all. In all, microcredit is mere bunkum—in fact; it won’t succeed without the help of immense grants. In all, this is a reality that dents on the development of this approach. Conversely, this approach lacks clear lucidity. Glancing at it through perspectives, the overall effect of this development approach has not been to reduce poverty, but only to produce a debt gridlock for gullible borrowers—who are incredulously subjected to particularly supercilious rates of interests practical to conventional banks . It is no surprise at all that Yunus used the infused poverty in his country profitably to gain international attention. This approach of bottom of the pyramid has no capability of finally leading to long-term development, because many poor people will feel that they are being defrauded through the obviously feasible

International Law Case Study Example | Topics and Well Written Essays - 3750 words

International Law - Case Study Example In the give case, a totalitarian president, Barmy has invaded the adjacent sovereign state Whiteland using muscle power. Neither the people of Whiteland nor the political regime of the Whiteland, has not done anything wrong to provoke Barmy or the Redland. Moreover, the Redland president Barmy has not cited any reasons for his action and the annexation of the Whiteland. The above case has lot of similarities with the Saddam Husain's seizure of Kuwait. Kuwaiti people never liked the intrusion of Saddam into the Kuwait territories. Saddam's claim over Kuwait was unjustifiable and it was just an excuse Saddam put forward for attacking the neighboring state. By capturing Kuwait, Saddam has violated all the international laws regarding the sovereignty of a country or state. Sovereignty is one of the fundamental rights of each country. It is the claim of having supreme, independent authority over a territory which is recognized by the United Nations. All the nations irrespective of what political ideologies they follow should respect the sovereignty of other independent states. Muscle power and forces should never be exercised upon a sovereign state without proper reasons. Chapter VII of the United Nations Charter states that the use of force is justified under only two circumstances: in individual or collective self-defence, as outlined in Article 51, or pursuant to a Security Council resolution, as outlined in Article 42" (The War on Iraq: Legal Issues, 2003)1. In the given case, Barmy or the Redland was not at all under any threats from the Whiteland and Barmy's action cannot be justified. Nobody wants to be ruled by an autocratic or totalitarian administration. Such administration will use iron fist for suppressing the interests of the people. Freedom of expression or any other basic human requirements will definitely be denied by a totalitarian ruler. When Saddam captured Kuwait, the international community and the Kuwaitis shouted against Saddam because of their fear against such totalitarian approach from Saddam Husain. Barmy was a totalitarian ruler and under his administration the Whiteland people will become slaves having their freedom cut down to a big zero. Whiteland public has every right to decide about their administration and a civilized country will never wish to be under the administration of a totalitarian ruler at present. International law is an arcane subject for those at all levels of opinion, ranging from the general public to top opinion leaders (Perry, 1998). It is not possible for countries to progress by violating international laws. In a civilized society like the present one, integration of the interests of the people on a global basis is required. Globalization and Liberalization are policies aimed at the integration of the global public and the collective economic growth. Invading other countries for expanding the territories is a barbarian act which was prevalent in the ancient societies. But the advancements in science and technology and the earlier lessons learned from international conflicts like the world wars have drastically changed the social views about the expansion of territories. In short, capturing Whiteland, Barmy has violated all the international laws regarding the sovereignty, freedom, and legal rights of a country to select their administra

Political Order Essay Example for Free

Political Order Essay poTop 20 (+1) List of Political Ideologies You Should Know For APUSH 1. conservative – Generally a trend to maintain a traditional stance on an issue.? For example, if one was culturally conservative in the United States, they would probably be against an issue like girls wearing 6 inch tall pink mohawks to school because it is a traditionally unacceptable hairstyle. If one were fiscally conservative, they would probably be against an excess of government taxing and spending; they would want to? be â€Å"conservative† with their money. 2.liberalism – Only lately used as an opposite to the term conservative; historically, it means to hold individual liberties as the most important social or political goal.? For example, if one were culturally liberal, they would hold that girls could wear 6 inch tall pink mohawks to school because it is that person’s individual choice. If one were fiscally liberal, they would probably be for government spending on stuff like space exploration; even though it is not absolutely necessary for human survival, it is still culturally important. 3. right-wing – Are usually people or ideas that seek to uphold or return the traditional establishment of a civil society and the preservation of the domestic culture, usually in the face of external forces for change. For example, many right-wing thinkers believe that all people in America should legally have to learn English. 4. left-wing – Are usually people who wish to change or abolish the existing political or social order. Sometimes, under this category are people who try to promote equality in wealth and privilege. For example, many left-wing people believe that helping the poor at the expense of the rich is a good thing. 5. socialism – A broad term for any political ideology that promotes collective ownership of the means of production and distribution of goods and services, as opposed to private ownership (like we have in the U. S. , if your dad owns a car factory, he owns it, not the government). Communism is considered socialist. Traditionally, most trade unions can be seen as socialist because the workers â€Å"collectively own† the union. Also, social security can be seen as a socialist because it is a government organized and regulated system. 6. democratic – A system of government by which political control is retained by the people and exercised directly by citizens. Notice the little â€Å"d†. This does not mean the political party. 7. republic – A system of government by which at least some of the people have control over the government and monarchy does not exist. Notice the little â€Å"r†. This does not mean the political party. 8. fascism – A system of government that is heavily authoritarian and nationalistic. 9. authoritarian – describes a form of government that typically emphasizes the sole authority of the state in a republic or union. 10. nationalism – A political movement which holds that a nation, usually defined in terms of ethnicity or culture, has the right to constitute an independent political community based on a shared history and common destiny. 11. radicalism – Usually denotes a drastic shift from the traditional norm, usually to an extreme. 12. libertarianism – Usually a political philosophy which prioritize individual liberty and usually seeks to minimize the state. 13. communism – is a socioeconomic structure that promotes the establishment of an equal, classless based on common ownership of the means of production and property in general. 14. populism – is a political ideology which promotes the common people above or versus the privileged. 15. progressivism – Usually seen as a political response to the Industrial Revolution, socialism, and anarchism; it is a political ideology that strives towards social justice, promotion of democracy, and government efficiency. See Progressive Party. 16. Marxism – A specific flavor of communism derived from the writings of Karl Marx. see communism. 17. federalism (Hamiltonianism) – Alexander Hamilton’s branch of political thought that promotes a strong central government composed of weaker states. This particular flavor also includes very strong governmental intervention in economic issues. 18. Jeffersonian Republicanism – In contrast to the above, a school of thought promoted by Thomas Jefferson that promotes states and individual rights over a strong central government. This flavor usually necessitates a virtuous populace. 19. Jacksonian Democracy – Usually seen as a mixture of the two above, promoted by Andrew Jackson, this system sees an increase of political involvement by the â€Å"common man† and an increase of the powers of a strong federal government. 20. localism – a political or economic philosophy that prioritizes local needs over most else. Example, a city passing a law that the only tomatoes that can be sold must be grown from a local farm is considered localism. 21. anarchism – the promotion of the abolition of all forms of government.

Philips: Marketing, Launch and Sales Processes

Philips: Marketing, Launch and Sales Processes One of the most essential parts of managing a successful company is how successfully it manages to launch and market a new product in the market. It depends on the company whether they want marketing to be done individually for every product or in a set for a group of similar line products. The main reason of promoting a new product is to attract new customers to the company and make majority of your target market aware of the companys latest product. Without that there is a very minimum chance of you getting the attention of your focus group. Marketing is important for both, the product and the company that sells it. Branding is very important for the establishment and identity of a new product. Selling a product under a global brand gives your product worldwide recognition, which automatically helps in more sales. If the product is successful, you will have a product that sells for itself! Also, a new and innovative product gives more recognition to a brand and brings more audience. The product which I chose is a 3 in 1 kitchen appliance and the company I chose for the marketing, launch and sales of this product is Philips. Objective In this report, my goal is to find out how compatible is my product with the company I chose to sell it. I have to figure out how much that brand helps in establishing my product, and also that how my product is capable of increasing the brand value and audience of the respective company. For that I have done the company analysis and product analysis and finally the marketing strategy. Company background Philips is a world-wide renowned company for the simplicity and innovation they put in their products. The company has a rich profile, and some of its important aspects are briefly explained below. Philips marketing strategy Philips as a company believes in Improving peoples lives through meaningful innovations. Philips promotes themselves as a consumer-led company, thus all the RD (research development) processes are based on creating products that are aligned with the current needs and demands of the consumers. Philips distributes their products not only through physical stores but also through modern medium, like e-marketing, via their website. The company website provides detailed product information and prices, along with the latest promotional offers available. The website also helps in informing availability of their products in different countries world-wide. Products Philips has a wide product variety available for all types of customers in the market. Philips products are basically divided into the following categories- Mother and child care products: Feeding bottles, tethers and skin care products. Personal care: Shavers, hair styling products, hair removers, etc. Lighting: Apart from fixtures and mood lighting they also provide car lights. Recently they have started using LED lights. Audio and video products: Television, stereo, etc. Home appliances- Kitchen appliances, vacuum cleaner, ironing machine, etc. Phones desktops. Accessories: USB, remote control, electronic toothbrush, etc. Pricing strategy Philips uses Price differentiation strategy for setting price of their products. the price of Philips products are different in different countries, due to the use of different currencies and variation in the government regulations in different parts of the world. It is visible on Philips website also that there is a difference in the prices of the same product in different countries. Philips also uses the price differentiation strategy for a product in the same country. They will have different price for the same product, depending upon the version and quality of the product. Philips stores The main headquarters of Philips is located in Amsterdam, Netherlands. Philips being a world renowned company, has its stores in more than 100 countries of the world (Australia New Zealand, Brazil, Canada, Mainland china, France, Greece, Hong Kong, India, Italy, Israel, Mexico, Pakistan, Poland, US, etc.), divided into 5 regions- North America, Latin America, Middle-East Africa, Europe and Asia-pacific. They have special promotional activities like contests, discounts, coupons, etc. during all festive seasons, to boost their sales. Philips also manages their sales through E-commerce. Promotional schemes Philips promotes its brand and products through a lot of mediums. They use billboards, print media, electronic media and internet for advertising their product. Being such a big company Philips always has to maintain their unique and new PR strategies and campaigns. Some of the best examples of Philips campaigns are- The product launch of kitchen appliance Air fryer was very successful, as they promoted it as a product which helps in a healthy and convenient way of cooking. Another promotional campaign was for Aurea T.V., where they hired a model for the promotion, as their promotional theme for the T.V. was seduction by light. Type of audience Philips deals with a wide range of target market, differing in age, culture, sex, status, etc., but most of the customers are loyal because they are satisfied with the brand promise that Philips fulfil. Philips products are not for conservative or sceptic audience. Philips audience are the people who believe in the brand, but are also willing to try the new innovative products that Philips comes up with. Philips products can be used at any time of the family life- cycle. Thus people around the world buy 1 million Philips consumer products every day. Brand identity Philips is a very strong brand name. It has positioned itself as a high quality and innovative brand. Their tag line is sense and simplicity, and that is exactly what they deliver through their products. One of the very important features of Philips is that they make useful, healthy, eco-friendly and innovative products. Their mission is to make cities liable by providing healthcare products, managing essential resources (like lighting) and supporting independent living. Philips increased its brand value by 8% to USD 8.3 billion in 2008. It was ranked 43rd most valuable brand in the inter-brand 2008 ranking of best global brands. Competitors Now-a-days due to increasing industrialization there is immense competition in every industry. There are a lot of companies making same products and trying to sell it in the market. It is the same with Philips. Philips has some direct competitors like Samsung, L.G., Sony and Panasonic who all make a wide variety of products. Apart from that it has some indirect competitors for various products, like- PG and Braun for Male dry shaving appliances Oral B for Power toothbrush KENWOOD for Food Preparation KRUPS for Drip filter coffee Companys SWOT Strengths: Wide variety of consumer lifestyle products and home appliances. Strong research and development processes. Simplicity and innovation as the theme of every product Large number of loyal customers Present in many countries around the world. Reputed and renowned brand name. Large base of copyright patents. Weakness: Late in development of new products. Distribution channel is not extensive. Price is comparatively higher than the competitors. Opportunities: The ever changing needs and preferences of the market. Increasing awareness of environmental friendly products. Technological advancements. Changing government regulations. Threats: Increasing competition. Dealing in different currencies of the world. Economic recession in future leading to less product consumption. Adapting to the fast changing business environment. Product analysis- Product- The product is basically a 3 in 1 kitchen appliance. It consists of a coffee maker, toaster and a skillet. An additional accessory (spatula) is available with the product. The specifications of the product are as follows:untitled.46.jpg Materials: ABS plastic, non-stick metal skillet, rubber stands. Temperature control knob for toaster Color schemes: Pink white, yellow white, Blue black and Orange white. Dimension: PeopleKomal appliance 1.jpg The product is precisely targeted for audience who are always busy in their work life, and has no time in the hectic mornings to prepare a proper breakfast. The target market is bachelors who may be studying or working; or newlyweds. People who are innovators will definitely try this one. Acoording to the price, middle class and lower upper class will buy the product. Price This appliance is definitely cheaper than the price of a coffee maker, a toaster and a pan separately. Komal appliance 3.jpg Place As this a product for working generation, the placement should be done in metropolitan cities. This product has no boundaries of religion or community so it can be presented in any country which is developed or developing. A high end mall is very good place for this product, as every one visits malls on weekends. Promotion The key point for promotion will be its compact design and easy usage. This product is 3 in 1, thus it can do 3 tasks in the time of 1 and save time, which is the highlight of the product. The product will be marketed as The appliance of youth.br4dvb 5.jpg It can be launched in a set of color schemes and graphics. So any gender or culture audience can buy it. It can be promoted through commercials, print media and billboards. Side 1.jpg Komal appliance 2.jpg SWOT of the product Strength New and innovative concept Saves time and money due to its 3 in 1 applaince concept, which can attract the target market. Available in different colors and design, so audience has a freedom of choice. Simple interface and easy usability. Weakness Not fully developed and tested A large number of market is not the focus of product. Opportunity Can be advertised as The appliance for fast pace lifestyle Many features can be improvised and then the company can come up with a new and improved version of the product. There is no similar product in the market, so there is no comparison bar for setting the cost. Threat People may be apprehensive about a new concept, thus the product can fail in the market. There is no reason for audience to trust a new product without any brand name or garuntee. Possibility of the idea being copied by other companies. Marketing plan for product launch Competitors- Philips being a very reputed and experienced company in the household appliance sector has to face stiff competition from other companies, like BRAUN, Morphy Richards, etc. However the 3 in 1 appliance (coffee maker + toaster + skillet) is a novel idea which is first of its kind in the industry. This appliance, therefore, will give Philips the first mover advantage and competitive edge over its competitors. Target the ideal customers- The appliance has a limited range on the target customer profile, but under Philips, who has a very strong and loyal customer base, it will still have a large number of audiences fitting in the customer range. Below are the exact details of what the audience will be like. Age: 18- 30 year old is the main age group for this product. Household income: As this product is a worldwide launch, a fix house hold income cant be estimated. But the target market for this appliance is the families from upper middle class and lower upper class. Geographical location: The product is such that it can be used all around the world, by people of any nationality or culture. Philips products are sold in more than 100 countries around the world, thereby providing a huge customer base for the product. Work situation: the work situation of the target market can be of 2 types- Young adults staying away from their family for studies. People who have a 9 to5 job and very hectic mornings. Create a unique value proposition- This appliance has a lot of special features that set it apart from other company products and gives Philips an advantage of coming up with a one of its kind new and innovative appliance. Saves time: the product can perform three different tasks, meant for three different kitchen products, in the time of one, due to its 3 in 1 engineering feature. This saves a lot of time and energy of the user. it can be healthy in a way because those who used to skip there proper breakfast because of hectic mornings will now be able to get an ideal breakfast without compromising much on time. Saves money: It obviously saves a lot of money if you can just buy 1 product instead of three! Philips products are mostly a little high prized compared to other brands, because of its product quality and brand name. This may cause losing some customers who have a lower budget. But this 3 in 1 appliance is an exception, as it will cost efficient compared to the price range of other Philips products. here is the approximate difference- Good quality toaster (49 S$) + good quality coffee maker (49 S$) + an average skillet (50 S$) = approximately 150 S$ Whereas, the 3 in 1 appliance, roughly, will only costs around 80 S$, saving approximately 50- 70 S$. Compact design: In todays world everybody wants a product which consumes less space and is easily movable. Plus the ideal market for this product will potentially be the people living in apartments or condos, which mean they will not have a lot of space in their kitchen for bulky appliances. This product surely is a relief for them, because like all other Philips products, this one is also compact. Easy and quick: As all the processes of the appliance are engineered to be automatic and has storage for water / milk and coffee; there is any need of adding the ingredients every time you use the appliance. Easy cleaning: The material of the appliance is glossy plastic on the outside and the inner parts like the storage of coffee and water are detachable; also the skillet is removable. So it becomes very easy for the user to clean the appliance from outside and inside. Moreover, there are rubber stands under the appliance so that its easy to shift and clean the bottom surface of the product. Opportunity of choice: Philips has always given choices of colors to the users in most of their products. But this product is one step ahead. It not only has color preferences but also comes in 3 different graphics on the outer body- plain, waves and floral designs. People always love to be able to choose their favourite from all the given choices, than being forced to buy a product which has no color/ design preferences. Uniformity: The product can be a huge success in the market because of 1 more reason- coffee is a worldwide beverage, thus giving the product a good chance of being accepted all over the world. Marketing strategy and tactics- As mentioned in the report earlier, Philips pays a lot of attention on how well the product is marketed and launched; and spends accordingly on the promotion. This can be very beneficial for promoting a new product in the market, under the brand name of Philips. The target market being a new age generation, the strategy will be more concentrated on usage of modern age media like internet social network website. Apart from that Philips already has its own official website which is very explanatory of its products. The usage of print media like newspapers and magazines etc. is also necessary to spread the product information to a large number of audiences. Outdoor advertising like Billboards, bus-stops advertisements near universities/ colleges and central business district is very important to reach the exact target market. Lastly one of the most used advertising sources, television commercials, can also be used for a better marketing of the product experience. Testing concept and marketing approach- Testing of the product can be done through a lot of mediums. Philips places its products in famous retail outlets, like big bazaar in India or courts in Singapore, which are nationally recognized and visited by many people. This gives Philips products an opportunity to come across a large number of audiences. The same tactics can be used for the testing of the new product. the 3 in 1 appliance can be displayed on a stall in these stores and people by passing the stall can see the demonstration of the working appliance, as well as can use it themselves to better understand the features of the products. Online surveys can be done asking suggestions about the concept and aesthetic appeal of the product. Lastly, Philips can give a money back or product exchange guarantee to first 10,000 customers of the appliance, all over the world. They can ask those customers for their feedback on what they felt went wrong and accordingly do changes in the product, if needed. Rolling out campaign- This is the time when Philips brand name plays a very important role. There are 3 ways of campaigning for the appliance- Showing testimonials of the users of the product on T.V. commercials. This way people will relate more to the product. Sponsoring an event related to cooking/ cookery shows for e.g. Master Chef, so at the end the show will advertise Philips kitchen appliances, including the 3 in 1 appliance. Sponsoring a cookery competition, and giving the product as a gift to the winner. Know your product lifecycle- Any product has 4 main phase of its life. Below is the chart showing the lifecycle of the sales of any product. Introduction- First six months, sales of the product will be slow. Buyers who are innovators will mostly use the product. Growth- With the increasing promotion by Philips, after six months of launch, the product will have increasing sales. By then people who are loyal to the Philips brand will start buying it. Maturity- By now everybody see the product as an established and reliable product. Now the product will reach the peak sales and also the onset of decline due to the possible launch of similar products by the competitors. Decline- this is the time when the product loses its novelty factors and there will be a need to rethink the product attributes and come up with a better version as soon as possible. Conclusion In the end I think that Philips as a brand is perfect for the kind of product I have designed. It really will help the product with the brand name of Philips. Similarly I think Philips can also gain more number of audiences because of my product.