Marketing Management in a Global Economy Essay Example | Topics and Well Written Essays - 1250 words

Marketing Management in a Global Economy - Essay Example When dealing with place, the company needs to ask where the buyer will search for the product, how the client will access the correct distribution channels, if they need to use a sales force, and what the competitors do that an individual can learn. For the pricing section of the marketing mix, the company requires to determine what the product’s value is to the client. Whether there is an established price point for services or products in the area, whether the client price is sensitive enough to give one an extra market share with a small price decrease, and how the company’s price compares with the competitors (Doole & Robin, 2008). When it comes to promotion, the company discerns when and where they can get their marketing measures across to their target market, how they can reach their audience via radio, press, or billboards, what time is best to carry their promotion, and whether any environmental issue dictates the marketing launch’s timing. The company a lso needs to determine how its competitors carry out its promotion. 2. Define Value Chain, and give an example of a company that utilizes a Value Chain Delivery Network, further cite the success rate of their value chain network. The concept of the â€Å"value chain†, owes its existence to Michael Porter, a management guru. Value chain refers to the sequential group of support and primary activities, which an enterprise carries out to turn various inputs into outputs that benefit its external customers (Doole & Robin, 2008). Various companies worldwide utilize value chain analysis, although the information shared about it is minimal because knowledge of one’s Value Chain Analysis means loss of competitive advantage. The profit wars have now moved to the supply chain arena with the VCA model now used for modeling across top clients like Target Stores, which utilize various kinds of services in the various quantities. Through the aid of some analytics, the companyâ€℠¢s logistics department can utilize the data for engagement with the customer and search for an optimal supply chain scenario. Toyota Motors is an example of a company that utilizes an integrated value-chain delivery network. Toyota manufactures its automotives via the TPS system, which puts emphasis on a lean system of manufacturing. This system was created to improve the cars’ quality, with the clients also being able to order the cars efficiently and quickly. Toyota Motors possesses an integrated system, known as TPS, in its production process. This system portends various advantages for the company’s production system. This ranges from Human Resource management to its products. This is further evidenced, in the fourteen principles, to which Toyota holds dear, including the quality of service, the efficiency of the production process, in addition with the quality of, the final product. This has allowed Toyota to become the biggest automotive company in the world bec ause of lean management that can be derived from a value chain delivery network. The system allows the company to deliver cars as fast and efficient as possible. 3. What is MIS (from a marketing point of view) and how does it affect the marketing research process? MIS is a system of communications, documents, procedures, and equipment that collects,

Advanced Financial Reporting & Regulation Essay

Advanced Financial Reporting & Regulation - Essay Example However, the proponents of the fair value accounting method argued that this accounting technique was just a messenger and not a major cause or contributor of the subprime mortgage crisis. The paper critically assesses the arguments that have been placed regarding the fair value accounting method being a main reason for the occurrence of the subprime mortgage crisis or the GFC. The idea as to whether the fair value accounting method has actually contributed to the financial crisis or has only played a constrained role in exacerbating the intensity of the financial downturn is evaluated and assessed by taking into consideration the views and arguments presented by different scholars and academicians in their literary works prepared and presented in this topic. The use of empirical evidences and descriptive information are made to analyze and assess the role of the fair value accounting method in the financial crisis. The second part of the report includes a comparison of the advantages and disadvantages of the fair value accounting method with the traditional accounting methods like the deprival value method of accounting, historical cost method of accounting and the r eplacement cost method of accounting. The report is concluded with a suitable conclusion in which it is highlighted that the role of the fair value accounting practice is much limited as a major reason for the occurrence of the Global Financial Crisis of 2008. The role of the fair value accounting technique in the financial crisis of 2008 is a controversial and highly debated topic. The fair value accounting method is the generally used accounting standard in the United States of America and has been specified in the FAS 157 in the year 2007. This accounting method includes the terms of accounting in which the different kinds of financial assets like the mortgage backed securities are priced and valued as per the current market value or mark to market value instead