Strategic Management of Wal-Mart in the Chinese Market Dissertation
Moreover, the research also deduced that when genders are involved the trend is for the campaign to use females corrige dissertation philosophie the main characters in most campaigns, for ethnicity the predominant trend is the use of white people in the western world with often the ethnicity being mixed between all characters in America more than Europe. However, in eastern countries the ethnicity trend shows that the main character is often the same ethnicity as the target market.
The analysis of the impact of dissertation on retail industry on campaigns showed trends that highlight an effective campaign consists of a target audience which is the millennial generation as they have the highest buying authority and susceptibility. Overall there was some limitations that could have been solved with a dissertation on retail industry during recession sampling selection which is evaluated in the conclusion. Marketing campaigns are ubiquitous. It is virtually impossible for an average person to live one day without being a wiling or unwitting consumer of marketing messages.
While some advertisements have an immediate effect and result in a resolve to action, others need to be repeated multiple times to incite a favorable view of the advertised product, and yet others do not succeed in fulfilling their goals at all. Competition in the retail sector seems especially fierce and consistently effective marketing campaigns are what makes or breaks a company in the retail industry, where loyalty is low and the desire of novelty is high.
While the general consensus is that the success of marketing campaigns depends on multiple factors, this research projects sets out to discover the role of the type of marketing campaign on its effectiveness, as well as the effect of demographics on the success of the retail marketing. The present study uses both deductive and inductive approaches to the secondary analysis of qualitative data that includes thematic analysis of the most effective marketing campaigns in the last two years.
My personal interest in marketing and reasons for its effectiveness guided the selection of this topic for my research. Having grown up with parents that are self-employed, from a young age I have been around a business environment. This has meant as I grew up I had to help out in various roles of the business, one of the roles I took to the most was the marketing of my family business and this was the reason I chose to study Management Marketing at university.
Before I attended university I took a year out to work form my family business which is in the retail sector. I learnt many things in various fields of industry yet the one field that intrigued me the most was marketing.
Dissertation on retail industry in recession
This was grew to become a passion of mine as I wanted to know how different types of retailers could out-do one another with just having a better marketing campaign. I have always been interested in the formula behind creating an appealing advertisement and making marketing messages spread far and wide. I chose this topic because I was genuinely curious to discover the results of this research, and I believe this information will serve me well in my future profession.
This chapter presents the results of the literature review concerning the topics of marketing campaign styles and their classifications in general, as well as marketing in the retail industry specifically. This literature review sums up the existing academic literature on the marketing effectiveness and marketing campaign size.
It also presents the results of the analysis of the previous research on the effect of such demographic attributes as age, gender, and ethnicity on the choice of marketing campaigns. The conclusion section of this chapter contains the discussion of the research gaps, as well as the opportunities for further research.
There are multiple approaches to classifying marketing campaign styles by different attributes. Some of these classifications overlap or are difficult to be defined specifically and distinctly from one another Davis, Transaction marketing is focused on attracting new business by managing elements of the marketing mix: product, price, promotion, and place.
These 4Ps marketing strategies Constantinides, are an essential part of all the marketing styles in this approach, but in transaction marketing they are the most important part that drives communication activities. TA involves communicating marketing messages to consumers in an undifferentiated mass market manner and relies on new customers to generate new sales.
Relationships with customers are limited by one-off transaction interactions and no effort is made to create personal or individualised contact. Thus, it collects their dissertation on retail industry and created databases, through which it initiates occasional semi-personal contact, such as sending out mass e-mails. In addition to the communication, generated by technology, DB marketing also uses loyalty managers and customer service staff to perform marketing activities.
E-marketing uses the Internet and other interactive technologies to create a dialogue between the company and the many consumers through websites, e-mails, social networks, as well as other electronic media and marketing tools, encouraging and facilitating them in exchanging information among themselves through forums, reviews of the products, etc.
Lindgreen et al. As opposed to transaction marketing and database marketing, the communication created in IMT is two-way and implores responses from the consumers Lindgreen et al. Interaction marketing involves face-to-face interaction between representatives of the company and individual clients.
Instead of marketing messages being distributed to a massive number of customers, they are co-created with customers on a one-on-one basis with the input from the buyers.
Communication with customers in NM is developed from impersonal to interpersonal and can be characterised as ongoing. Since the customers of retail companies and buyers of consumer goods are individual consumers and not businesses, and IMP and NM deals primarily with the B2B marketing, the transaction-relationship continuum for the retail industry is limited to the first three marketing campaign types, with TA being on the far transaction side and e-marketing being on the far relationship side.
Decades ago, people used to buy new things only when the old ones were dissertation on retail industry during recession used up, but now customers have more purchasing power and dissertation on retail industry is driven by desire, not necessity Muratovski, Thus, in modern times, it is sufficient to convince the customer that a new product is desirable, rather than appealing to the rational mind in an effort to convince to purchase Alford, Having a core group of customers is beneficial to the company in other ways than direct sales.
Despite the obvious benefits to the use of relationship marketing, the setting of retail industry does not make it easy for large companies to cultivate relationships with the consumers. Thus, retail companies have to rely on their marketing departments to communicate messages that build trust and send the impression of mutual respect in order to build relationships with the consumers.
However, it is rather difficult to measure such reach with a high level of precision due to dissertation on retail industry in recession subjective processes that take place in the mind of the consumers between the time when they learnt about the brand for the first time and the time they purchased a product. In addition, there is a multitude of marketing messages directed at the consumers throughout the day that may interfere with the consumer perception of the brand, such as adverts from competing brands.
Thus, complex approaches are needed to effectively measure the marketing campaign success. In academic literature, the following methods of measuring marketing campaign effectiveness are described: advertising tracking studies, cross-sectional analysis, quasi-experiments, conversion studies, and online behaviour tracking.
Below is a short description of each of them. Since the consumer behaviour, including their attitude towards a company and consequent purchase of the product, may not always result from an exposure to a single advertisement or marketing campaign, a control group is used to measure the effect of a particular message Mok, Thus, when Quebec outlawed advertising to children, the French-speaking children who watched only the Quebec TV stations became a control group for the English-speaking children who watched American channels that contained advertisements.
The differences between the two groups were significant, since the English-speaking children recognised more toy brands and had more cereals at home than their French-speaking counterparts Goldberg, These conversion actions can be correlated with certain consumer characteristics, such as demographics, in order to understand the relationship between certain types of advertisements and certain qualities of the target market. The most ideal method of measuring the effectiveness of separate advertisements or whole marketing campaigns is online conversion tracking.
This combines the elements of longitudinal quasi-experiments and cross-sectional analysis, as it makes it possible to compare groups that were exposed to online advertisements and banners and those who were not, as well as different demographic groups.
It also incorporates the elements of advertisement tracking and conversion studies, allowing it to match the behavior of consumers to different stages of their relationship with the campaign. On the other hand, data gathering comes with the use of online resources and is described in the terms and conditions of certain websites Steinfeld, Similarly, while placing a Google ad would reach a larger audience, Facebook ads are more cost-effective and can be set to target smaller segments of the market Margarida Barreto, On the other hand, a company with less restrictive budget but a niche product; may prefer to purchase an advert placement in a specialist magazine rather than advertise in mainstream publications McDowell,even if it can afford to do so.
These findings correspond with the marketing efforts in targeting certain segments of the market, rather than attempting to appeal to everybody and spending on advertising to people character analysis essay are not attracted by the type of product marketed. Below is a brief description of the main demographic characteristics as they apply to the retail industry.
Academics traditionally divide consumers by age into generations, such as Baby Boomers, born between and ; Generation X, born between and ; Generation Y or Millennialsborn toand Generation Z, born after Glass, For example, Baby Boomers limit their shopping to few locations, while Generation X consumers comprise the support of multiple retailers.
There has been a lot of attention devoted to the differences in consumer behaviour between the genders. Ethnicity of consumers is often correlated with cultural, religious, and traditional differences in values that should be accounted for in marketing. The review of previous research, as well as current academic literature, revealed the existence of different approaches to the classification of marketing campaign types and demonstrated the superiority and universal applicability of the marketing campaign classification developed by the Contemporary Marketing Practice group Lindgreen et al.
The research also indicates that the trend towards the relationship side of the marketing spectrum is growing due to its effectiveness. The previous research literature suggests that the marketing campaigns used in the retail industry belong to the first three categories. The logical conclusion follows that some forms of the marketing campaigns that are the furthest on the relationship spectrum, while still being available for dissertation on retail industry in recession retail companies marketing to individual consumers and not business entities would be the most effective forms of marketing campaigns.
Retailers have also learnt from their recent experiences and are increasingly adopting a multi-channel approach to reach their customers, aiming for consistency of message and brand across channels.
But e-Commerce is more. Select reference number busman from the dropdown list 2. Reverse logistics and impact on retail management of the travel and tourism industry in the UK- a primary investigation. The "green" dimension in supply chain logistics and buy dissertation proposal management- trends and challenges. How does retail management link to the overall management function of an enterprise?
Lessons from UK retail brands. The relevance of product range to effective product management in retail outlets in the UK- an exploratory study.
A comparative review of the traditional and current organizational buying behaviour in the UK healthcare sector. CSR in retail management in the UK- a view of ethics in the context of product range presentation. Their response is topic-dependent and executed in line with stakeholder expectations. Retailers neglect topics their stakeholders do not value.
A popular instrument for retailers to address various stakeholder concerns are retail brands. These brands have proliferated in recent years and indeed appear to support the integration of SCP in the food industry. Compared to independent 3rd party certification and labelling, retail brands offer the advantage of property rights for retailers.
While 3rd party labels are non-exclusive, retail brands offer more incentive for retailers to invest into the development of one or several sustainability-oriented brands. Interestingly, such brands appear to mostly function in close cooperation with independent 3rd party certification and labelling.
Retailers use such certification and labelling to increase trust and credibility in their own brands and to facilitate supply-chain management.
Retail stores are embedded in the same socio-cultural context as local stakeholders. For a retailer, that means that one have to keep track of their spending. Moreover, he asserted that building a relationship with customers only works if the customer benefits from the relationship.
The main technique in retailing is to find ways which one can do for clients that will be able to modify behavior in profitable manners. What the retailer provides to customers has to be something that they will appreciate and value, but which do not cost you too much.
In retailing, the margins are often thin Hughes, According to Davidthere are at least four types of resources which the company can use to achieve its objectives: financial, tangible, human and technological resources. These are the same critical success factors that Zara or other retail companies should be equipped with in order to conceptualize efficient supply management and cost-effective distribution strategies from the main suppliers to the end-users of the products, particularly their clothing products.
In some other countries, the domestic channels for apparel are characterized using three dominant patterns as shown in the schematic diagram below Figure 1. In pattern B, the distribution channels or retail outlets include the specialty stores, the department stores, and the street fashion peddlers.
Figure 1. Distribution Patterns of Clothing and Apparel Products. Some of the ways that companies acquired cost advantages are by improving process efficiencies, gaining unique access to a large source of lower cost materials, making optimal outsourcing and vertical integration decisions, or avoiding some costs altogether.
If competing firms are unable to lower their costs by a similar amount, the firm will be able to sustain a competitive advantage based on cost leadership. This has been the practice within some retail and apparel companies and retail and apparel production through contracts with direct supplier in order to lessen the expenditures of the company spent on materials.
The literature review provided above has been able to explain basic concepts of outsourcing and its advantages and disadvantages upon consideration.
Herein, outsourcing can be done with the technology, with the human resources and most probably with the products. Being able to realize the benefits of outsourcing, different companies are able to utilize this approach and integrate it to their current system.
Accordingly, the analysis of the previous studies shows that outsourcing has vast effect to the organization as a whole. In the case of retail apparel industries outsourcing has also. Dissertation Methodology. This part of the paper discusses the methods that have been used for this dissertation.
This detailed the steps the researcher took in order to accomplish the study. The said steps then include the collection procedure of the data that is required in the delivery and completion of the dissertation. It also presents the manner in which these data will be utilized and integrated in the study and at the same time, detail how the dissertation proceed to answer the aims and objectives in order to reach to the conclusion. In this manner, this part of the paper justifies the means in which the study will be performed.
It also emphasizes its credibility by making mention of widely accepted scientific methodologies. Through the methods mentioned in this paper, a plausible conclusion will be obtained.
Looking back to the aims and objectives of the study, the study intends to determine whether outsourcing maximize profit or fair trade for Zara. As the dissertation intends to discover the general consensus of staff in ZARA with regards to retail outsourcing, the immediate dissertation methodology in mind is the descriptive dissertation design. The study is exploratory, being descriptive and illustrative.
To achieve the objective of this study, the researcher opted to use descriptive method of dissertation was utilized. The purpose of employing the descriptive method is to describe the nature of a condition, as it takes place during the time of the study and to explore the cause or causes of a particular condition. The researcher opted to use this kind of dissertation considering the desire to acquire first hand data from the respondents so as to formulate rational and sound conclusions and recommendations for the study.
According to Creswellthe dissertation on retail industry in recession method of dissertation is to collect information or data regarding the present existing situation or phenomenon. Descriptive dissertation has as its purpose to help others essay a better understanding of a phenomenon in detail.
Descriptive studies usually have as their purpose the first two aims of normal science as described by Kuhn dissertation on retail industry, pp. The aim of descriptive dissertation is to clarify the nature of a phenomenon in a specified, static context while viewed from a specific, fixed perspective. Descriptive dissertation design, then, is directed toward clarifying a phenomenon's appearance or nature. In other words, it describes a particular phenomenon, focusing upon the issue of what is happening, rather than why it is happening.
Two types of data were used: the primary and the secondary data. The primary data were derived from the answers respondents gave in the self-administered questionnaire prepared by the researcher. In addition, the information obtained from the interview also provided primary dissertation data that supported the study. The secondary data on the other hand, were derived from the findings stated in published documents and literatures related to the dissertation problem.
These were based from the recent literatures related to dissertation on retail industry during recession outsourcing and motivation and the concepts cited by the respondents. In terms of approach, the study employed both qualitative and quantitative approaches. The quantitative approach focused on obtaining numerical findings was used with the survey method.
The interview on the other hand, made up dissertation on retail industry in recession qualitative approach of the study as this focused on personal accounts, observations, description and individual insights of the respondents. This study employed the combined approach so as to overcome the limitations of both approaches. In order to achieve the goal of this paper, the researcher has been able to use appropriate approach. In this study, the qualitative data used provides details descriptions of the entire topic which is the health incentives which allowed the researcher to gain better understanding of the objective of the study Creswell, It can be said that the article used qualitative research method since it will try to find and build theories that will explain the impact of retail outsourcing with Zara.
Dissertation on retail industry
In this research design, the data collection approach includes the consideration of relevant literatures that provides discussion about the practical considerations for employers which want to use strategically incentives as a vital program approach for motivating their employees and engaging them to health promotions. Herein, the researcher has been able to gather information from relevant studies and incorporate it qualitatively through the use of content analysis.
Through the secondary documents, it can be said that the researcher have been able to achieve the goal and objective of this study. It is said that the qualitative research utilized in this article can be said to be as it is more open to adjustment and refinement of letter application for a job ideas as an inquiry proceeds.
Several researchers had stated that generally, qualitative research takes place within a natural setting. It is less likely for dissertation on retail industry research to impose restriction on data collection.
This may include managers, line managers and other employees of the company. All of these participants were selected through random sampling. This sampling method is conducted where each member of a population has an equal opportunity to become part of the sample. As all members of the population have an equal chance of becoming a dissertation participant, this is said to be the most efficient sampling procedure.
In order to conduct this sampling strategy, the researcher defined the population first, listed down all the members of the population, and then selected dissertation on retail industry in recession to make the sample. For this purpose, a self-administered survey questionnaire in Likert format was given to the respondents to answer.
The respondents assessed the retail outsourcing strategies of ZARA and determine whether retail outsourcing have a significant impact with organizational performance. However, due to time and budget constraints, the researcher opted for a smaller sample size. In this regard, the dissertation will only consider 50 employees of the company. ZARA employees have been chosen to ensure that the data and information that will be gathered is pertinent.
For this study, two dissertation instruments were used to evaluate the relationship of the two contexts. These dissertation instruments included the survey questionnaire methods. A self-administered questionnaire was distributed to the selected s.
The questionnaire given to the respondents aimed to assess retail outsourcing strategies of ZARA and identify whether retail outsourcing maximize profit or fair trade.
This focus dissertation on retail industry the assessment was based on the principles introduced by various authors. The questionnaire was structured in such a way that respondents will be able to answer it easily. Thus, the set of questionnaire was structured using the Likert format with a five-point response scale. A Likert Scale is a rating scale that requires the subject to indicate his or her degree of agreement or disagreement to a statement.
Dissertation On Retail Industry
In this type of questionnaire, the respondents were given five response choices. Below are the designated quantifications used in the questionnaire for this dissertation:. The survey method will be facilitated through the use of survey forms and questionnaires. This will include inquiries on the general characteristics, particularly the socio-demographic information of the selected research participants.
Quantifiable inquiries will be likewise contained in the survey forms and questionnaire regarding the real advantage of retail outsourcing in general on Zara. The survey format will be distributed to employees of the company. The criteria which will be used to select the employees will be the individuals that have long been in the company for more than 3 years.
This will enable the participants to compare and contrast the business processes of their company before and after the popularity of the use of retail outsourcing operations.
Content analysis. Content analysis was done to analyze communications in order to answer two levels of questions - the descriptive and the interpretive.
Dissertation on retail industry
Descriptive questions focused on what the communication contains. Interpretative questions focused on what the contents was likely to mean. Content Analysis was used to analyze and interpret the interviews.
Statistical Treatment. The Likert scale was used to interpret items in the questionnaire. There were instances that the respondents were asked to rate the effectiveness of implementing the phases in the investment process.
The range and interpretation of the five-point scale are shown in Table 1. Table 1: The Five-point Likert Scale. Scale Range Interpretation 5 4. Weighted mean was used to measure the general response of the survey samples, whether they agree to a given statement or not.
The formula in computing weighted mean is as follows:. Results of the survey were presented in tables. Excerpts from the interview were integrated based on the analysis outline. Relevant literatures to support the findings are also included. Basically, the data acquired from the survey was analyzed using Pearson Correlation to find out the significant impacts and relationships. Furthermore, the correlational analysis is conducted in this study.
The correlational kind of dissertation method is u se due to ethical problems with experiments. Moreover, it is also used due to practical problems with experiments. Moreover, inferring causality from correlation not actually impossible, but very difficult.
This mode of study is widely applicable, cheap, and dissertation on retail industry ethical. Nonetheless, there exist some "third variable" issues and measurement problems.
The correlational dissertation refers to studies in which the purpose is to discover domestic violence dissertation between variables through the use of correlational statistics r. The square of a correlation coefficient yields the explained variance r-squared. A correlational relationship between two variables is occasionally the result of an outside source, so we have to be careful and remember that correlation does not necessarily tell us about cause and effect.
If a strong relationship is found between two variables, using an experimental approach can test causality. Conversely, a value of -1 shows a perfect negative correlation, which also means that the two variables are exactly related, only this time, as the values of one variable increase, that of the other decreases.
Table 1: Values of Correlation. SPSS is one of the most widely available and powerful statistical software packages that covers a broad range of statistical procedures, which allows a researcher to summaries data e.
As this study utilized human participants and investigated business practices, certain issues were addressed. Another question was asked to understand the shopping category that excites the Indians millennials the most. The answers do not give a clear understanding of the most popular category because of approximately equal weightage to All the categories and Apparels. Dissertation on retail industry during recession in India is considered a social affair amongst the millennials.
To a certain extent, it can be deduced that Indian millennials consider shopping as something that should be done only on the weekends. This goes against the concept of online shopping which can be done at any time of the week without having a plan for shopping. In the fourth section of the survey, the respondents were asked to select an answer based on a case of buying a pair of jeans.
The case was designed keeping in mind the current scenario of the Indian e-commerce industry and its competition, brick-and-mortar. The question dissertation on retail industry. Its Maximum retail price is Indian rupees. The same pair of jeans is available for Indian rupees in a store in your city. The respondents were asked to choose between an offline and online store to buy a pair of jeans. This case was particularly interesting because the Indian millennials are not just looking for a lower price but they are expecting a lot more from online stores to choose it over offline stores.
However, several respondents also mentioned that the price difference is not much to buy it online. This depicts the current situation of the Indian e-commerce industry where the consumers are asking for a higher discount in the case of an online store. On the other hand, the respondents were asked in the previous sections about their willingness to shop online or offline if there are no discounts.
This clearly signifies the mindset of Indian millennials who crave for discounts at online stores. This highlights a serious limitation of the Indian e-commerce stores. The consumers will not even consider buying something online in the case of a need based purchase. Moreover, the unexpected time of delivery also plays a role in not choosing online over offline stores.
They also highlighted a unique aspect on the offline retail stores: free alteration. The Indian brick-and-mortar provides consumers with free alteration so that they can get the fit as per their requirements, this is what the respondents claimed as the perfect fit. The responses sheds light on the unnoticed limitations of the e-commerce stores in India. The shopping decisions made by the Indian dissertation on retail industry in recession are not limited to the best price of quicker delivery, they also expect to get the perfect fit at no extra costs.
They highlighted the benefit of saving time and money by choosing an online store. The points that were particularly interesting were regarding saving the overhead expenses of travelling to the offline store and the ease of return the products.
Even though there was no information about returning the product in the question, respondents in the favor of online shopping assumed that they can return the product easily at an online store. Moreover, not only in terms of higher discount, respondents also thought of the overhead expenses they might have to bear to visit the offline store that can be saved in the case of buying from an online store.
Like returning the product, there was no information provided about the overhead expenses in dissertation on retail industry question.
The research is subject to some limitations. In a diverse country like India, the preferences of Indian millennials might differ based on their language and the region they live in. This poses a major challenge on the Indian e-commerce industry because currently, all the e-commerce websites in India are in English.
This could be the reason that dissertation on retail industry stopping the Indian millennials from shopping online. It could be noted as the main limitation of this research essay writing service cheating the data collected for this study was done through a survey written in English.
The aim of this research was to understand the factors that is stopping the Indian millennials from shopping online. The research further can be focused on specific categories of shopping in India to get a closer look. This will assist in understanding the category that shows the maximum potential to grow in the near future and also the one that can take a step back because of the lack of association with the consumers.
Additionally, the next research can be focused on Indian non-millennials to understand if there are any chances of creating a desire among the non-millennial generation of India. If such a market exists, it could prove be a great opportunity to tap into the pockets of the people who are earning well and are willing to pay more to get convenience at their doorsteps. The scenario of e-commerce in India is evolving gradually and will take a new form in the next few years especially with the penetration of internet at a fast pace.
Therefore, a new research can be conducted to witness a change in the shopping preferences of consumers in the next few years. An interesting next step of this research would be to do a research that involves augmented reality clubbed with online shopping in India. This is because the majority of the sample highlighted the need to try the product before they can make a decision to purchase it.
With the advancements in augmented reality, it could be the something that the Indian millennials might prefer over offline shopping. To conquer the major limitation of this research, the next step could be to study the impact of language as a barrier in the expansion of online shopping in India. The research shows that Indian millennials expects more than what e-commerce in India is offering at the current phase. The data portrays a sense of dissatisfaction associated with online shopping with the majority of the sample.
The Indian millennials are not impulsive shoppers and are even cautious when it comes to dissertation on retail industry because of the associated risks that are absent in case of brick-and-mortar. Additionally, they look for added benefits or a complete package when they buy something. By a complete package, they are not referring to an online store that gives them choice.
They are referring to a complete package of the product they intend to purchase. It was interesting to find that the Indian millennials have segmented their shopping categories into offline and online stores. In the case of shopping for apparels which is one of the biggest shopping segment in India, alteration might sound like a small part but it plays an important role in the preferences of Indian millennials to choose a shopping medium so that they can get the perfect fit. In the case of electronic gadgets, the research shows that Indian millennials are inclined to purchase it at an online store because there are negligible chances of uncertainty associated with a branded electronic gadget.
Another finding shows that the Indian millennials use the online stores as a research medium for shopping. The research clearly shows that the consumers do expect more discount dissertation on retail industry online stores.Vacant land is commercial real estate if it will be leased, not sold. As a component of gross domestic productcommercial real estate construction contributed 3 percent to U. That dissertation on retail industry a decline from 4.
Commercial real estate construction simply takes longer than residential real estate construction. It takes several years to build shopping centers, offices, and schools.
It takes even more time to lease out the new buildings. When the housing market crashed incommercial real estate projects were already underway. You can usually predict what will happen in commercial real estate by following the dissertation on retail industry during recession and downs of the housing market.
Since professionals manage the properties, you save both time and money. That's the second-largest source of ownership. That makes them a good addition to a diversified portfolio. REITs share an advantage with bonds and dividend-producing stocks in that they provide a steady stream of income.
Like all securities, they are regulated and easy to buy and sell. Keep in mind that the value of your REIT reflects dissertation journal than just the underlying real estate. It's also affected by the demand for REITs themselves as an investment. They compete with stocks and bonds for investors.
So even if the value of the real estate owned by the REIT rises, the share price could fall in a stock market crash. During a recession, commercial real estate hits its low after residential real estate. Real estate exchange-traded funds track the stock prices of REITs. Investors are attracted to ETFs because they have very low fees. Companies try to build up their brand name by constantly realizing innovative and creative designs that increase their visibility in the world.
A company with a strong brand is like to attract a large number of loyal buyers. Most consumers in the designer clothing market are driven to consumption mainly due to brand names. Designer clothing industry is mainly about attitude.
From the models on stage to the sales clerks in retail shops, all the people connected with designer clothing brand should portray class and sophistication Kaiser The people working for designer clothing brands should not only be trained on how to do their jobs but should personify the business in all their activities. Most consumers of designer clothing link the product with the service provided. This is because excellent service is just as important as buying the product itself. Therefore it is important that everybody connected with the brand have excellent communication skills, be classy and be kind and patient because one bad review might cause a dent in consumer perception.
Process involves all activities involved in delivering services to a customer Sharp Waiting time, after sales service, and the helpfulness of the staff are all important aspects of the process.
The company should always ensure that customers are kept informed about important events such as fashion shows and new about the release of new collections and their price. Overlooking the process might lead low consumer satisfaction, bad reviews and poor perception of the brand. In designer clothing industry, a company should be able to prove that it indeed can provide high-end classy clothing.
This is usually personified by its ability to compete well in the fashion shows and the nature and organization of it retail outlets Jones Participation is one of the important ways that a company can provide physical evidence that its clothing can meet consumer expectation.
The premises of these companies must be spectacular, eye catching and able to convey class. This will generate word of mouth that will attract more and more consumer to the premises. The UK high-end designer clothing companies are about than as per London fair. Due to the poor economic conditions being experienced, the sales of designer clothing in the United Kingdom are growing very slowly.
The companies essay training needs analysis enjoy sales from loyal consumers and sales from foreign companies have increased considerably during the last five years, especially sales in China. Burberry Inc. It became widely known for the trench coat design created by Thomas Burberry, its founder. It has stores in over locations with 15 stores in Dissertation on retail industry.
The company produces clothing, fashion accessories and perfumes Nielson Christian Dior is a French company that also operates in the United Kingdom. It was started by the designer of the same name in The company mainly deals with Haute Couture aimed at the high end market. The company operates about boutiques in various parts of the world and has over 76, employees as of Chanel is a French fashion house founded in by the French couturier Gabrielle Chanel.
The company deals with Haute Couture, perfumes, hand bags and other fashion accessories. The company has about 1, employees and very few stores worldwide. This is also a high-end fashion house originating ethics in the workplace essay France.
The company specializes in leather, perfume, handbags and ready-to-wear items. The company was founded in by Thierry Hermes Colino The company has over employees in different parts of the world Nielson, It is also a French fashion house that also operates in most parts of the UK. It was founded in by a designer of the same name.
The company produces ready-to-wear, shoes, hand bags, luxury trunks, jewellery and leather goods. The company markets its products through high-end retail stores, boutiques and the internet. The fashion retail industry has been described as the most dynamic, competitive and fragmented market in the world.
The Fashion industry has been experiencing some problems mainly due to the global recession and imitation designer clothes from countries such as India and China. To maintain competitive advantage, designer clothing companies should revise their marketing mix and ensure that they not only keep consumers but also attract more consumers both from the UK and dissertation on retail industry in recession the rest of the world.
This paper has looked at the nature and characteristic of the UK fashion retail market as well as the characteristic of designer clothing market. It can be seen that the designer clothing market is not under too much pressure from the economic slowdown since most of its consumers are dissertation on retail industry and can afford to buy whenever the need arise.
An overview of the marketing mix used by designer clothing companies has been provided to understand how they operate.
Dissertation on retail industry in recession designer clothing market accounts for over 6. Colino, N. Grail, R. Grail Reports, 3 12 Jones, R. Journal of Textile Institute. The Apparel Industry. The demand for clothing in the UK and Sweden. The Journal of Fashion Marketing and Management, 1, pp. Law, K. Fashion change and fashion consumption: the chaotic perspective. The Journal of Fashion Marketing and Management, 8 4pp. Karayanni, D. Web shoppers and Non-shoppers. European research Dissertation on retail industry, 15 3 Katics, M.
The effect of rising competition on import competition in market power. American Economic review, 88, pp. Pepall, L. Industrial Organization, Contemporary Theory and Practice. Ohio: Thomson South-Western.
In response to this some manufactures have now introduced the extra measure by labelling cloths extra large, petit, extra-extra large and so on, also is an instance of the women clothing of size 8 which differs for one designer to the other Ferrell et al Such acts in business are unethical and it creates issues, the communication those not include all the necessary information that the buyer need or the workers been deceived which can be termed to be exploitation.
Such acts are illegitimate are and are against the ILO standard and are liable to court action. Conflict of Interest - "We can define aconflict of interestas a situation in which a person has a private or personal interest sufficient to appear to influence the objective exercise of his or her official duties as, say, a public official, an employee, or a professional.
Thought bribing is a legitimate ethics in of business in some part of the world but it is morally questioned by most cultures. Conflict of interest may also occurs indirectly, most clothing retailers based their manufacturing outlets in the developing countries most especially in the eastern Asia's because of the cheap material and labour and in return to help in the development of their economy, most of this labourers with these organisations were exploited and maltreated but the government seems to be quite about it because of the money been given to them or because of the promises made by the companies to help in developing their country.
In instances like this, though the interest of the company to gain cheap labour and material is not conflicting with that of the government to help them in building their economy but its conflicts with the workers human right violated the standard business ethics as pronounced in the ILO convention.
Appendix Two illustrates an instance of Nike in Taiwan and South Korea, Nike normally produces his shoes and sport ware in Taiwan for several year due to the cheap labour and cheap material in the country, but when the work force got the advantage of forming a union that was able to organise the wages and salaries of the workers and sets a minimum wages, Nike decided to leave the country for another Asian country where there is an authoritarian leader who did not allow the independence of labour union and the labour union is less functional, there is less protective measures for the labour market and the labour market is cheap.
Fairness on the other hand means impartiality and unbiased, or equitable, these are normal general moral ethics that every business is supposed to operate by. Ferrell suggested that every business should at least respect the rules and regulation governing human rights and employers should not deliberately harm any of his workers. Loucks concluded that though business men are more conscious of their own self interest, yet business should be base on fairness, trust and justice, each chain in the business circle should be honest and fair with each other, he continues that not abiding by the ethical rules and regulation can obstruct business performance.
Honesty and fairness are normal moral way of living, business are expected to behave in same manner, though some businesses are only concern about the money and careless of whatever they need to do go gain the money, this kind of action will be termed as unethical. To exploit a worker or to discriminate are certainly instances of been unfair.
Paying a staff below the minimum wages or depriving workers of their benefits or no providing a good working environment for the workers and also instances of been dissertation on retail industry in recession and unfair. Hurlbert said employers should pay their workers fairly, he continues that workers should not be treated less than a human; they should be included in the decision making and should be reward and motivated in the good performance.
He concluded that dissertation on retail industry employees are more productive and are liable to save more cost and assist immensely in the achievement of the organisational goal" Eric Beversluiswrote an article titled "Is There No Such Thing as Business Ethics" that many business man see business as a game such as boxing and basketball where there is no hold for ethical rules, a boxer will not hesitate to harm him opponent if he want s to will, so business should be ready to harm to win as well.
Writes such as Conrad Levinson format resume writing business is like a war front and it needs every attacking strategy to counter the consumers and the workers, therefore honesty and fairness are not logically needed in business.
However several other writers argue against the assumption of business been a game such as boxing. Ferrell says "business ethics must not only make clear what rules apply to the game but must also develop rules appropriate to non-voluntary character of participation in the game.
Jim Balassone an executive in residence at Markkula Centre of Applied Ethics said businesses should adopt the habit of including business ethics as part of the hiring exercise, he continued that honesty and fairness in business does encourage employers to works without supervision or anybody dissertation on retail industry in recession.
You are the company, and you dissertation on retail industry in recession the standards, it is the responsibility of the employer to create a mission statement and goals with a set of values that includes honesty, integrity, fairness and excellence.
The relationship between the organisation and the workers shows how ethical the business is. Employee and employer are expected to work together as a team to achieve the organisational goal. Employees should meet the necessary needs of the employer and avoid exploitation or over using their workers. Timothy Sexton a writer and web blogger, wrote that the behaviour of the employee in a business is a yardstick of shaping the achievement and the ability of the business to survive in the short and long term run.
Sexton continues that "The performance of staff up and dissertation on retail industry during recession the often labyrinthine hierarchy of the organization is managed through the implementation of bylaws and regulations; these rules can be vaguely defined and rarely enforced, or they can reach almost Nazi levels of discipline.
This culture of behaviour and adherence to the rules is tailored both by the shared goals as well as the unique individualism of each employee". Proper ethics should be spelt to guide the relationship between the employee and the workers and adequate behavioural ethics should be put in place to address and define the organisational relationship. Though ethics in this sense may seems technical and this is the more reason why an 500 word essay is how many pages and appropriate ethics should be drawn that will spell out what is right and what is wrong as well as the punishment and reward that accompanies both scenarios.
In line with this the business should ensure that a well defined mode of rewarding workers should be spelt and well as bases under which the staffs are entitles to it. To achieve this, the employers should be allowed to be part of the management team such as a representative; on the other hand independent employer union should be encouraged.
Also the management should allow the managers to be part of the decision team to ensure that the correct information is passed across to them.
Gary Hansen an Australia press with the Aduki Independent press reported the situation of home workers in Australia. The home workers are mostly women who were enslaved away by the clothing companies. The Retail Ethical Clothing Code of Practice was formed in which stipulates that every clothing company must be for the fair treatment of his workers.
Business ethics is mostly related to Corporate Social Responsibility, and they are often used interchangeably.
Dissertation on retail industry during recession
This section will clearly differentiate between and business ethics and CSR and it will further evaluate the position of Dialogue in essays in the business. Business ethics has been defined to be principles and standards set as a guideline for business operation activities.
The concept of business ethics defines the rights and wrongs in the way business operates; they are sets of rules and regulation that protects the rights of the employers and public. Corporate Social Responsibility on the other hand defines the obligation and responsibility of a corporation to protect the affairs of the stake holders including the owner, the employers and the public in general.
In other word CSR can be said to be the company's obligation to pronounce and implement accurate business ethics Carroll Jones defines CSR as the belief that corporation are obliged to the society other than making profit. A number of controversies have been raised in the past but in recent year, harvard phd dissertation concept of CRS has been generally accepted as most corporations including the clothing companies, companies are now responsible for welfare of the workers, consumers and the environment, beyond making profit.
However one may think what the gain is, for the corporation in exhibiting social responsibility, Crane said, the pursuit if extra reward may be the reason why corporations now engage in social responsibility or to avoid been neglected by the consumers. Greening and Turbanalso suggested that the workers can be more committed and excited to work if the company is socially responsible, at the same time employing social responsibility can a long term investment if the company has contributed reasonably to the development of the community.
Friedman on the other hand argued that the only reason a company will embark on such project is if it's making a returns from it and in other word should be called profit maximisation strategy not CSR, Bowie agreed with Friedman to an extent and concluded that, either CSR is to make more money or not at least it still performs the major obligation of social responsibility.
The integrity of an organisation as well as his conformity to ethical issues goes beyond formulation of rules and regulation but also requires adequate compliance and not compromised of the ethics to achieve the company's goal Ferrell et al More companies now adopts the CSR programme, as it aids improvement in the company's operation and activity especially in relation to human right and environment protection as well as the development of the society.
The concept of CSR was raised as a result of the camping against the sweat shops in the multinational companies.
The concept addresses issues such as, child labour and workers exploitation, discrimination and harassment, working hours, as well as health and safety issues; it defines the rights and wrongs on these issues and monitors its respect Clive Crook Marihugh Cheryl dissertation on retail industry during recession that labour laws and its monitoring are two different issues that need to be addressed separately other than putting monitoring as a function of the CSR; she concluded that, monitoring should not be under the umbrella of the CSR, the dissertation on retail industry should be independent of the labour law to strengthen the ethical standards to be observed by the multinational corporation as they comply to the labour laws.
Ever since the advent of CSR in the s, much relevance has been attached to the concept especially in regard to the outsourcing of low materials, technology and labour in the developing countries. CSR defines that such outsourcing should not only be for profit dissertation on retail industry during recession purpose; it should also be responsible of upholding environmental welfare and human right standards.
Clothing retail companies are also realising their responsibility toward promoting a green environment and upholding human right standard. CSR of any given organisation including the clothing retails should be concerned about their obligation to the society as a whole to increase their positive impact on the society and reduce to a very minimal level their negative impact. Fiber2fashion site, divides CSR into of an organisation into two; - Human responsibility: this defines the responsibility of an organisation toward its stakeholders.
The organisation is expected to be socially responsible to its employees, customers, competitors, environment, supplies etc. The social responsibility of an organisation and to the consumers is more focused on in this work the they include, conformity wages and benefits, conducive working environment, health and safety etc - Environmental responsibility: this are obligations of the organisation to ensure a green environment CSR stipulates that the company should carry out its activities and operation with the interest of its stakeholders in mind, in as much as the business is designed to make profit, it should not affect its employee and consumers as well as the environment adversely, companies should carry out their operation in a manner in which the interest of the stakeholders are protected.
Nevertheless develop research questions dissertation business men argues that the concept is of selfish interest, by engaging in social welfare projects in order to increase their popularity and to make consumers divert their attentions to them.
Zhao Linfei and Gu Qingliangdescribe the evolution in CSR as its been described by other researchers, their analysis indicates that the evolution of CSR back in the s have experienced a shift from "obligation and responsibility relative to the society to international and social issues as well as corporate social performance". Falck and Heblich analysed that "in the 21st century the concept if CSR has further experience evolution to strategy and competitive advantages". Linfei and Gu Qingliang described that "CSR is a voluntary corporate commitment to exceed the explicit and implicit obligations imposed on a company by the society's expectation of conventional corporate behaviour".
CSR can be used as an efficient managerial strategy and can contribute immensely to the success of the organisation, Porter and Kramer described the concept as a "win- win situation strategic philanthropy". There several ways in which an organisation can strategise in adopt the concept of corporate social responsibility.
On like every other industry, there are numbers of ways in which the textile corporations can fulfil its obligation to the employees, the consumers and the society; Particularly the employees as a major concern of this thesis, the companies can create an avenue where the employees opinions and complains can be heard and an effective policy should be drawn to provide solutions to their complaints.
The organisation can also ensure an adequate policy for settlement of disputes between the employees and between the employees and the managers.
The company should provide a competitive and challenging work environment for the employees as well as ensuring as safe working environment of them. Basic ethical remuneration, promotion, and other benefits should also be put in place. Appendix Four illustrates the CSR of Burberry textile company; "Burberry is an organization that strives to fulfil its social responsibility.
It provides its employees with safe working conditions, fair policies regarding appointment and remuneration and ethical workplace standards. There is no bias towards age, gender, colour or marital status in its employee policies".
It has specified health and safety standards, which are audited annually". Also quality products should be made available to the consumers at reasonable price and regular research and development should be carried put to innovate more useful and ethical good for the consumers. Corporations should adopt an eco - friendly concept as well as sustain a green dissertation on retail industry during recession.
A well planned CSR will aid the reputation of the company, a good reputation is an instrument to attract, retain and motivate quality employees, and at the same time it increases the value of the brand which increases the company's goodwill Falck and Heblich Human Right are fundamental staple rights of every individual. Human Rights are basic international standards that protect every human from any kind of abuse including, political, legal and most especially social.
Every aspect of the globe ranging from politics to economic, business and legal issues have their aspect in which they make provision for human right standard. Rights to freedom of opinion, freedom of religious, right not to be tortured and several others are typical example of human rights. These rights are generally accepted moral protected by the law at both national and international levels.
The government and international bodies are subject with the responsibility of governing the compliance and enforcement of human rights. Corporation especially, are summoned to carry out their operation in accordance to the declaration of the international laws concerning human rights, they should endeavour to in promoting the rule of law pronouncing in every countries where they operate at the same time they should ensure that their activities those not contradict to the international law of human right "Corporations should never be associated with, and should actively combat, racial, gender, social and other pernicious forms of discrimination.
They should actively combat torture, enslavement, arbitrary arrest and detention, enforced disappearances, arbitrary and summary executions and any form of gross violations of human rights".
Furthermore, organisation should pay special attention to the indigenous population or minorities that seems to be affected by any form of threat and should ensure proper amendment is made to counter the threat to save human right been violated and adopt every possible means to upholding human right and respect ethical standards.
They should play their part in supporting national institutions and civil essays about teenagers in their efforts for the promotion and protection of human rights.
They should contribute actively, as members of the international human rights movement to education and publicity about international human rights norms so as to help a universal culture of human rights to take roots in all parts of the world. Though the advent of corporate social responsibility in the business is new, and with lots of controversies on business ethics which has been discussed earlier, in this idea UN developed a UN sub commission to promote and protect human right.
This drive has pushed the corporation into the inclusion of business ethics in their business policies. Global Compact The question of if business ethics is important or not has been a major debate among economist and business gurus in different perspective, while some business man believes it's an expensive project to embark on, some believes it's a good strategy to maximise profit, though the assumption of business ethics on the two bases might be right to an extent, but apparently business ethics has been proven beneficial to both the society and the company.
Business ethics and social responsibility of a company have earned the organisation the commitment of the workers, which will leads to efficiency in the business daily activities and production of quality products. It also offered the company workers loyalty, Effective decision and good financial performance. Trust and fairness are major instruments in the success of an organisation as it defines the reputation of the organisation to be good.
When an organisation adopts an attitude of trustworthiness it automatically engages in building a trustworthy relationship, Loe dissertation on retail industry in recession that the "the employees' perception of their firm has been ethical leads to performance enhancing outcomes within the organisation".
Trust in a company enhance productivity and team work within employee to employee and employees to the employers, "introducing trust worthy climate allows workers to rely and act on the decisions and action of their colleagues and the managers, in such environment, employees can reasonably expect to be respected and considered by other stakeholders" Farrell, Helen, and Farrell Stephen Covey concluded that, "trust is the glue that hold organisation together and allows focusing on efficiency, productivity and profit", he continued that "trust lies at a very core of motivation, it brings out the very best in people".
Susan Gainesconducted a research to study the relationship between the workers, job altitude and performance, she discovered that the commitment of a workers as a result of job satisfaction leads to customers satisfaction and investor are attracted to customers satisfaction. Jaworski and Kohildiscussed that committed workers emerges from the believe of the employee that his or her future is safe with the company and won't hesitate to make sacrifice for the dissertation on retail industry in recession, the more company is responsible for the care of his workers and the public the more possibility of the employee and the environment caring for the organisation back.
If workers enjoy good remuneration, good working environment and benefits it creates an ethical climate for the organisation and increase the commitment of the workers. Aaron believes when dissertation on retail industry noticed the high involvement of the company in community matters it increases their loyalty to the company and feel their participant in the company's involvement.
Customers are majorly attracted to company's integrity and quality, especially when the price is comparable to its competitors.
Ferrell et al described that "the prevailing business philosophy about customers relationship, is that an organisation should try to provide products that will satisfy the customers, it is generally accepted that customers satisfaction is one of the most important factors in successful business strategy", Leo also commented that for an ethical organisation, his major priority should be on the satisfaction of his customers.
Ferrell, Maignan and Loe agrees and added that, though customers are put first, does not means the company should ignore the employee, environment and other stakeholders, an ethical organisation incorporates all its stakeholders in its social responsibility" they concluded that "workers in an ethical climate must supports and contribute to the understanding of needs and concern of the customers.
Ethical conduct towards the customers, will build a strong competitive advantage that could show to a great extent, positive effect on the organisation effectiveness and efficiency". As said earlier, when workers are satisfied which leads to their commitment, it enables them in satisfying the customers with quality products.
Unethical climate for workers is compromising the quality of the organisation which affects the customers as much as the company itself. Ferrell, Maignan and Loe commented that, "employees working with ethical organisation believe they must treat their partners respectfully regardless of who they are or whether they operates inside or outside the organisation, it becomes essential for them to provide the best possible value of service to all customers".
Dissertation on retail industry a large extent, the workers commitment contributes to the quality position of the organisation as well as gaining competitive advantage dissertation on retail industry during recession the organisation, an ethical climate will also positively affects the company's financial position, since the quality of service produced by the workers, enables customers satisfaction, improve the company's reputation, improves the quality of service which could invariably keep their customers as well as attract new customers.