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People need advice + info before making a buying decision to help them make an informed choice. Once they've chosen a product, they need to stay informed during the period they're using the product. Making a bad choice can have unfortunate consequences, although with short-term products ( CA or IAA ), it's easy to switch to a different one. But medium and long-term products are relatively inflexible and people need to know these facts before committing themselves. They can experience problems with financial purchases if they don't understand the agreement they're making It's never possible to know everything about a product and theres always risk. Life insurance endowment policies are complicated and it's hard for a customer to know what the policy is worth at any point in time because the value is affected by stocks and by the charges made by the insurance company. The insurance company will send an annual statement of their policy but most people don't know enough to be able to While the law provides some protection against bad advice and the selling of unsuitable products, consumers should remember that theres always a risk. Nobody can predict the future and the economy can change in unexpected ways. E.g. inflation rate might rise significantly and the BOE would respond by raising interest rates. Or a bank might fail and its customers would be uncertain about what'll ...
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FNU Risk Taking Behaviors of External Stressors Unique to Adolescents Discussion

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Calculations Pet Kingdom, Inc.

Solution On November 1, 2005, Janet Morton and Kim Wong formed Pet Kingdom, Inc., to sell pets and pet supplies. Pertinent information regarding Pet Kingdom is summarized as follows

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Marketing Plan: Supply chain

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Marketing Plan: Supply chain

Earlier in the course we learned why supply chain management is so important to marketing managers. If we don't own it, we cannot sell it! This week you'll create a simple supply chain for your marketing plan.Marketing Plan: Teen Tracking DeviceSupply Chain Example Begin by reading the First activity in Module 5 and the material immediately below. You should also review the supply chain PowerPoint in Module 5. Although Wikipedia should be used cautiously, in this case their SCM article may be helpful. https://en.wikipedia.org/wiki/Supply_chain_managem...Supply Chain ManagementThe global economy, advanced planning techniques, and technology have changed what we once called “logistics” into the science of SCM. SCM is managing both the upstream (where a firm finds materials and supplies) and the downstream (where it sells and/or ships products) “chain” of suppliers, sellers and partners. Some firms, such as Wal-Mart owe much of their success to SCM and logistics. Wal-Mart is considered a world leader in managing their supply chain using advanced logistics and IT systems. A major change in SCM is the emergence of “third-party logistics suppliers” aka “3PL” firms. The most widely known of these is UPS, whose new tagline is “what can Brown do for you” focuses not on delivering packages, but on SCM.Product AdaptationHow about a KFC Shrimp Burger? Truly global firms find that they must adapt the products they sell to meet local market conditions, which may include legal, cultural or physical requirements. This often requires developing new products or components to meet local needs. Product adaptation is changing the physical product, creating a new product or changing other parts of the marketing mix to meet local needs and requirements.o Changing the name of the product is often not enough, in many cases the product itself needs to be modified. Some examples: o McDonald’s has burgers in India – but no beef. It’s consumption is taboo. Instead, you’ll find tofu or chicken. o Wal-Mart sells live fish, turtles and frogs in their China stores – not as pets but for dinner tables. o American appliance manufacturers had to adjust the size of their home machines – many urban European kitchens were too small for our large appliances. Assignment requirements: You will follow a format similar to the “do first” assignment at the beginning of Module 5. Make sure that you have completed that exercise before attempting this component of the marketing plan. There are TWO parts to this component. Part One: In about 2-3 paragraphs provide a high level view of your supply chain. Consider what you will need to successfully take your product to market and where you might encounter breaks or obstacles in the chain. You should also address the issue of what type of suppliers you might need and where they are located. What issues do you anticipate? Do not forget to consider political, trade and social issues. If you need a steady supply of coffee or chocolate, will you buy only Fair Trade? Are there child labor issues? Import restrictions? Part Two: You will create Word chart with three columns:Up stream Mid-stream Down streamIf you are not familiar with these terms, visit the activity in Module 5. For each of the columns, identify 4-5 items that you will need for a complete supply chain. Bullets are fine, but make sure that you are clear. In the last row, list your typical end user. Are you direct to consumer or are you selling to a retailer or wholesaler? In some cases, you may have an entirely different end user. Gotta make a chart

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FNU Risk Taking Behaviors of External Stressors Unique to Adolescents Discussion

Describe two external stressors that are unique to adolescents. Discuss what risk-taking behaviors may result from the ext ...

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Calculations Pet Kingdom, Inc.

Solution On November 1, 2005, Janet Morton and Kim Wong formed Pet Kingdom, Inc., to sell pets and pet supplies. Pertinent ...

Calculations Pet Kingdom, Inc.

Solution On November 1, 2005, Janet Morton and Kim Wong formed Pet Kingdom, Inc., to sell pets and pet supplies. Pertinent information regarding Pet Kingdom is summarized as follows

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Xyz Company Expansion Recommendation Report

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CTU Correctional Facilities Standards & Accreditation Challenges Essay

You are a new warden participating in a workgroup to update performance-based standards for your correctional facility. Th ...

CTU Correctional Facilities Standards & Accreditation Challenges Essay

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Marketing Plan: Supply chain

Earlier in the course we learned why supply chain management is so important to marketing managers. If we don't own it, we ...

Marketing Plan: Supply chain

Earlier in the course we learned why supply chain management is so important to marketing managers. If we don't own it, we cannot sell it! This week you'll create a simple supply chain for your marketing plan.Marketing Plan: Teen Tracking DeviceSupply Chain Example Begin by reading the First activity in Module 5 and the material immediately below. You should also review the supply chain PowerPoint in Module 5. Although Wikipedia should be used cautiously, in this case their SCM article may be helpful. https://en.wikipedia.org/wiki/Supply_chain_managem...Supply Chain ManagementThe global economy, advanced planning techniques, and technology have changed what we once called “logistics” into the science of SCM. SCM is managing both the upstream (where a firm finds materials and supplies) and the downstream (where it sells and/or ships products) “chain” of suppliers, sellers and partners. Some firms, such as Wal-Mart owe much of their success to SCM and logistics. Wal-Mart is considered a world leader in managing their supply chain using advanced logistics and IT systems. A major change in SCM is the emergence of “third-party logistics suppliers” aka “3PL” firms. The most widely known of these is UPS, whose new tagline is “what can Brown do for you” focuses not on delivering packages, but on SCM.Product AdaptationHow about a KFC Shrimp Burger? Truly global firms find that they must adapt the products they sell to meet local market conditions, which may include legal, cultural or physical requirements. This often requires developing new products or components to meet local needs. Product adaptation is changing the physical product, creating a new product or changing other parts of the marketing mix to meet local needs and requirements.o Changing the name of the product is often not enough, in many cases the product itself needs to be modified. Some examples: o McDonald’s has burgers in India – but no beef. It’s consumption is taboo. Instead, you’ll find tofu or chicken. o Wal-Mart sells live fish, turtles and frogs in their China stores – not as pets but for dinner tables. o American appliance manufacturers had to adjust the size of their home machines – many urban European kitchens were too small for our large appliances. Assignment requirements: You will follow a format similar to the “do first” assignment at the beginning of Module 5. Make sure that you have completed that exercise before attempting this component of the marketing plan. There are TWO parts to this component. Part One: In about 2-3 paragraphs provide a high level view of your supply chain. Consider what you will need to successfully take your product to market and where you might encounter breaks or obstacles in the chain. You should also address the issue of what type of suppliers you might need and where they are located. What issues do you anticipate? Do not forget to consider political, trade and social issues. If you need a steady supply of coffee or chocolate, will you buy only Fair Trade? Are there child labor issues? Import restrictions? Part Two: You will create Word chart with three columns:Up stream Mid-stream Down streamIf you are not familiar with these terms, visit the activity in Module 5. For each of the columns, identify 4-5 items that you will need for a complete supply chain. Bullets are fine, but make sure that you are clear. In the last row, list your typical end user. Are you direct to consumer or are you selling to a retailer or wholesaler? In some cases, you may have an entirely different end user. Gotta make a chart