Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Apha Research Consultants is a marketing research consultancy operating in Jamaica for approximately 3 years. Its proprietor and sole employee, Mr. John Waterman is a graduate of the University of the West Indies with an elective in Management Studies. In his previous job before starting with Alpha, Mr. Waterman worked for 10 years with a major research consultancy; 3 of these years he was employed in the capacity of Assistant Manager-
Mr. Waterman has found that the demand for his services is not very attractive. This he considers a major disappointment as there are so few players in the domestic market. Economic pundits have suggested that the demand for consultancy services has dramatically declined over the last few years with the financial and economic malaise that now characterise the global marketplace. Alpha’s sales in 2008 amounted to US$14, 000 with the company making s slight profit. With 10 months gone in the current year (2009), its proforma financial statement is indicating that sales for the year 2009 was forecasted at US$20,000.00 and at this point, only US$10,000.00 has been realised. Alpha is marketed through flyers and word of mouth and plans are afoot to do radio advertisement and social media campaigns in its effort to boost its promotional campaign.
In an informal discussion with the boys on Friday evening, John was advised by one of his friends, who works with a major consultancy firm, that the climate as it exist , there is a market for a customer satisfaction survey in the Eastern Caribbean where lots of restaurants and tourist attractions were established over the last five years. Mr. Waterman plans to expand his operations in an effort to market to an overseas clientele. He is however in two minds with the with the uncertainty faced in the consultancy and related markets.
Question:
- Critically analyse the marketing mix of Alpha Research Consultants.
Consultancy firms helps other organisation in betterment of their businesses. They Provide business to business services.
Every business requires enough amount of market size and market demand for successful profitability. Businesses will move on to different markets or will change their target markets or even the product if they don't see proper demand in the current market.
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