Business Quiz Week 4 Essay

There are several different types of business ownership which are most commonly used in business’ and company’s today, these include; Co-operative which is a business owned by its employees, Partnership which is a business owned by between 2 and 20 people, Private limited which is a business owner by a small groups of people who have shares and a Public limited business is owned by private individuals by shares bought and sold on the stock market. A charity is a business with the purpose to help the public, the government is a business owned by the government and lastly a sole trader which is a business owned by only one person.

When you develop messages, what factors should you consider as you choose your words? Which considerations do you think are most important? Why?

There are many different paths people can take throughout their lives. In the novel, Fifth Business by Robertson Davies, the main character, Dunstan Ramsey, takes the path of the Canadian hero. There are many different steps to be taken by the hero and Dunstan Ramsey follows his path by completing each step.

The principle of _______________ means that each person should know to whom they report, and that managers should have the right to give orders and expect others to follow.

Three key challenges facing the Canadian book publishing industry are the concentration in retail market, the competition for multinationals, and the cost of adapting to new technologies and entering the export market. Policy source 14, Summative Evaluation of the Book Publishing Industry Development Industry Program discusses these challenges.

19) Following the ________ approach to target market selection encompasses a strong knowledge of the segment’s needs, a strong market presence, and operating economies through specializing in production, distribution, and promotion.

b. Since companies cannot satisfy all consumers in a given market, they must divide up the total market (market segmentation), choose the best segments (market targeting), and design strategies for profitably serving chosen segments better than the competition (market positioning).

They have a very clear strategy for the pursuit of their goal and vision. The market segmentation as well as the identification of target markets is the important element of each marketing strategy at which they are the basis for determining any particular of the marketing mix, which is product, pricing, place and promotion. Market segmentation reveals the company's market segment opportunities. The company has to evaluate the various segments and decide how many and which segments it can serve the best. In evaluating different market segments, a company must consider of three factors, that is, segment size and growth, segment structural attractiveness and also company’s objectives and resources. (Armstrong & Kotler, 2005)

Explain the process of market segmentation and targeting, and the benefits of segmentation and targeting to Clare’s Chocolates. (150 words) Market segmentation is gathering of potential buyers into groups, that have common needs and it will help you to market your products and services effectively. So that you have more understanding how to market your products and

Market segmentation divides a market into a well-defined slices. The marketer’s responsibility is to identify the nature and number of market segments. To compete more effectively, many companies are now embracing target marketing. They are focusing on those consumers they have the greatest chance of satisfying.

1. The most significant challenge to business success you see in this rapidly changing global economy;

Market Targets : The total market for a product /service package can be segmented because of the differences between groups of customers .These differences may allow for product and

Workforce planning is the process of analysing an organization's likely future needs for people in terms of numbers, skills and locations. It is an essential process in Human Resource Management as it ensures that a firm has the right number of people in the right place, with the right skills at the right time. Workforce planning often has 5 steps. The first step is the ‘Environment Scan’ which involves managers look at why workforce planning is important, the strategic objectives, the internal and external environment. The second step is ‘Current Workforce Profile’ where managers look at their current profile, current skills and

Segmentation also enables the marketer to crystallize the needs of target buyers. It also helps him to generate an accurate prediction of the likely responses from each segment of the target buyer. Moreover, when buyers are handled after careful segmentation, the responses for each segment will be homogeneous. This in turn, will help the marketer develop marketing offer/programmers that most suited to each groups. He can achieve specialization that is required in product, distribution, promotion and

The process of dividing the market into subsets of consumer needs and characteristics is called segmentation. These processes are based on