Activity 2.2.docx Detail the methods and procedures that might be used by an organisation to communicate with customers to identify and agree on product/ service specifications. Business plans need to be flexable and be adapted to meet the changing needs of customers so the business can continue to support the delivery of products/services to customer specifications. Customer expectations and needs will change from time to time and will be affected by market trends, fashions and changes in external environments. You need to know who your customers are, where they com form, and what their buying intentions are. Market research and communication with customers is important to keep the organisation informed
This process is essential because subsequent steps in the process of planning for achievement of the selected objective may be derived from the SWOTs. Marketing Strategies One of the first steps in the consideration of new product development and penetration of new product development is to analyze the market opportunity. Basically, we need to find out whether or not this venture is worth it. Our engineering team will need to determine the technical feasibility of the product idea. Once this is complete, our marketing team will need to determine the idea’s prospects in the marketplace.
Using workers from these other countries requires Riordan Manufacturing to consider cross-cultural issues. Consideration of cross-cultural issues requires Riordan Manufacturing to perform a situation analysis, which will require the company to consider issues and opportunities that the company could face. In addition to identifying the issues
Market Research- Primary Research As part of my coursework I have to conduct a questionnaire and need to ask questions about my products and services that I offer. The reason why I am asking people to complete the questionnaire is because to know information of what customers want from my products and services.
Tesco use respondents in all market research that is primary data as they are the ones that buy all the products and use all of the services to help Tesco be the company they are today. As well as this without them they wouldn’t be able to conduct market research and find out vital information in order to develop their business. The limitations of using respondents is once again because you are trying to get primary data then you have to put more time and effort and spend more money in order to try and gain the key
The Best and Worst of Americas Presidents Throughout U.S history there have been many good presidents and also many bad presidents. I believe that presidents should be graded on how they handle the economy, foreign policy, and equal rights. From our first president to our current president those I believe are the three most important grading points. A good economy is very important because it gives people a better living by giving them job opportunities and a way for people to make money. Foreign policy is important because it has a lot to do with the trade, technology, and communications of the United States.
There are different methods of cost estimation. In Ka-Pow project we have used the bottom up estimating. In bottom up estimate find out the cost of the work packages and then add them up to get the cost for the entire project. It is important to estimate the cost correctly otherwise it will put the project at a risk. It is very important to involve the SMEs in the cost planning also to get the accurate estimate for the cost.
Part 1 Terminology Macroeconomics use terminology that is rather distinct from other fields of study. To describe the massiveness of a nation’s economy a numerical measurement is essential. There are many ways to measure economic activity, but a single, common measure is important for purpose of comparison between two different countries or even the same country to itself at different times. Economists have generally agreed that the best measure is the Gross Domestic Product (GDP). This is the sum of cost of all the final products and services sold in any economy.
The Article, “For Mitt Romney, the election hinges on the middle class”, focuses on the tactics in which Mitt Romney needs to perform in order to win the middle class votes of the Americans. According to the article, 90% of the American people consider themselves to be members of the middle class. In order for Mitt Romney to have a strong chance of winning the election he needs to have the majority behind him. Mitt Romney is a very successful businessman and has obtained much wealth to his name. Although, he is a part of the small percentage of the upper class in America his main focus for the election is to appeal to the middle-class as a devoted family man who is seeking to lower their struggles.
Inflation causes a dollar to loose purchasing power. Inflation causes the dollar to be worth less than what it was worth before. We can’t buy as much with the dollar during times of inflation. 5. Imagine that you are considering moving to a new country and looking for a job there, but you first want to make sure the country has a strong economy.