Cardinal & Ordinal Approach in Economics

firebird usefulness-grade analysisHumilitary personnel wants are unlimited and they are of different strength. The means at the disposal of a man are not only scarce but they have alternative uses. As a take of scarcity of resources, the consumer bungholenot satisfy all his wants. He has to choose as to which want is to be satisfied eldest and which afterward if the resources permit. The consumer is confronted in making a choice. For example, a man is thirsty. He goes to the market and satisfies his thirst by purchasing coca-cola instead of tea. We are here to examine the economic forces which. Make him purchase a particular commodity. The answer is simple. The consumer buys a commodity because it gives him satisfaction. In technical term, a consumer purchases a commodity because it has utility-grade for him. We now examine the tools which are used in the analysis of. Consumer behavior.Concept of utilityJevons (1835-1882) was the first economist who introduced the concept of u tility in economics. According to him utility is the basis on which the demand of an individual for a commodity depends avail is defined as the power of a commodity or service to satisfy human want. usefulness thus is the satisfaction which is derived by the consumer by consuming the goods. For example, cloth has a utility for us because we can wear it. Pen has a utility for a person who can write with it. The utility is congenital in nature. It differs from person to person. The utility of a bottle of wine is zero for a person who is non-drinker go it has a very high utility for a drinker.Here it may be noted that the term utility may not be confused with pleasure or awfulness which a commodity gives to an individual. utility-grade is a subjective satisfaction which consumer gets from .consuming any good or service. For example,Poison is injurious to health but it gives subjective satisfaction to a person who wishes to die. We can say that utility is value neutral.

Hilton Hotel

These things that I learned at farthest slighton 1)Product and service difference Basically Products ar tangible and services ar intangible. For example Apple Iphone, Coffe mocha at Starbucks are products,but healthy services sector,home repair service,wireless communication,trip to somewhere they dont result ownership of anything. 2)Customer vs. featurer Customer and consumer are not same things. For examplemother pervert napkin for her baby and then baby consume it in this situation baby is a consumer, mother is a customer . )Sales dont mean to marketing. Sales palm just selling but marketing process makes the wide-eyed strategy. Selling and advertising are just part of larger marketing mix marketers purpose satisfying customer needs. 4)Consumer BehaviorThe behavior that consumers viewing in searching for purchasing,using,evaulating and disposing of products and services that they expect will satisfy their needs. When ? decide to buy innovative product what factors in fluence on me?A)External factorscultural,social,family roles&status,reference groups B)Internal factorspsychological factors(motivation,perception,learning,belief and attitudes) * Consumer behavior includes all the decisions a consumer makes when spending their time and money. The what,why,when,where,and how of consumer purchases are examined. 5)Two consumer entities Personal consumerthe individual who buys goods &services for his or her own use for household use. Organizational consumerBusiness,government Marketing pattern Production orientationcompany wanted efficient production lines ,not focalisationed product variation.Sales Orientationoverproduction,excess product Marketing conceptfocus on customer,expectations of customer,marketers become more sophisticated in understanding the consumer and delivering products that play their need. Societal Marketing ConceptConsider consumers long run best interest,in this concept marketers are consciousof ostracize effect health,environm ent. * Fair trade trying to give support manufacturer,especially poor companies such as Africa Endonesia. memberation, calculateing,positioningSegmentshare simialr meet and expectations and enables marketers to target consumers.Divide the total market into smaller segments. (segmentation) Types of segmentationgeographic,demographic(age gender,family size,family life-cycle Marketing mix The dumbfound of tactical marketing tool. 4P=PRODUCT,PLACE,PROMOTION,PRICE. P roductgoods&services combination. Placeincludes company activities that make the product available to target consumers. for exampleusing social networks,internet stores. Promotionactivities that malke product availableto target customers,and persuade. (public relation,advertisement,selling process. Customer setPerceived value is relative and subjective.Developing a value proposition(unique selling proposition) is critical in attaining successful positioning of a broad Customer trust Recommendation,word of mouth influence on customers,newspaper,websites Customer retentionloyal customerbuy more products, are less price sensitive Customer profitibality-focused marketing BCG growth-share matrix=each produsct hs assorted contribution(star,question mark,cash cow,dog) Platinum- heavy user,not price sensitive Gold-heavy user but not as profitable Iron Lead-like dogs in bcg approaches SEYMA TEMEL-135710019Hilton HotelNews Brief Hilton Hotels tops in customer satisfaction http//planyourmeetings. com/2006/06/01/hilton-hotels-tops-in-customer-satisfaction/ By Kristi Casey Sanders Published June 1, 2006 Hilton Hotels Corporation leads the hotel persistence in customer satisfaction, according to the latest statistics from the American Customer Satisfaction Index (ACSI). With a prepare of 78 points out of a possible 100, Hilton took the leadership position among the seven hotel companies mentioned in the survey. Overall, the hotel industriousness amend 3 percentage to 75, equaling its highest cause since 199 4. Hilton takes great pride in its ACSI customer satisfaction score, which confirms the results of an unparalleled focus and commitment by the 74,000 team members at our owned and managed hotel properties across the country to deliver the best in guest service, said Dieter Huckestein, president hotel operations owned and managed for Hilton Hotels Corporation. Hiltons portfolio of 2,000 hotels includes Hilton, Doubletree, Embassy Suites Hotels, Hampton Inn, Hampton Inn & Suites, Hilton Garden Inn and Homewood Suites by Hilton.The ACSI is produced through a partnership of the University of Michigan Business School, ASQ, and CFI Group, which measures customer satisfaction in the competitive hotel constancy on a regular basis. The ACSI is updated on a rolling basis. New scores for the hotel industry fill in those collected one year ago and are added to scores of five other sectors of the economy deliberate during the intervening year. One sector that didnt fare well was the airline industry, which dropped 1. percent to 65, its lowest score since the industry was rocked by 9/11. Southwest Airlines still rules the industry at 74. US Airways made the industrys biggest jump, improving nearly 9 percent to 62. Northwest Airlines, on the other hand, dropped 4. 7 percent to 61, taking last place in the industry as it struggles with strikes and a Chapter 11 bankruptcy filing. The general decline was attributed to the airlines struggle with labor contracts, bankruptcies and higher fuel prices, leaving consumers feeling they are getting less for their money.

Marketing Dunkin Donuts Essay

Dunkin Donuts builds long term customer relationships by being consistent with their merchandise strategy. They have maintained an everyday value since they opened their doors fifty years ago. They have met their customers expectations by non changing recipes. The coffee tastes the analogous no matter what entrepot you go into. Dunkin Donuts to a fault has a drawn-out training class so they can maintain their quality in the kitchen as well as customer service. Dunkin Donuts maintains customer relations by fully meeting the customers expectations. When a customer enters a store they know just what to expect, no surprises or disappointments.Dunkin Donuts value proposition is value and quality. Dunkin Donuts has always made their products a value. Starbucks has the expensive coffee Dunkin Donuts has the value coffee. Dunkin Donuts has also maintained their quality as well. They have kept the same ingredients and recipes everything tastes the same as fifty years ago. By maintain the quality and value the customer knows exactly what to expect when he or she walks through the door.Dunkin Donuts is growing its share of customers. Dunkin Donuts has maintained its coffee and donuts, but has also grown with the times to gain more customers. Dunkin Donuts now offers a variety of coffee drinks such as cappuccinos and iced coffees. The company also sells breakfast sandwiches and cookies too. The coffee is mostly what keeps customers coming back for more, but now in that respect is more of a variety to please everyone.

How to Discover Your Life Dreams

How To Discover Your Life Dreams I name an assignment for you Do you want to know why you were born? What your sacred mission In bread and butter Is? hithers what you do entry a hardly a(prenominal) hours for a individual(prenominal) retreat a whole day is even better. cook your calendar and cross out that special day with a fat red pen. No wiz touches that day, Its your date where you discuss your life with God. Take that extended time of personal reflection and bring these questions with you. Here are some heart questions for you to answer Questions To Answer What are your greatest strengths?What Is the primary gift that has been minded(p) to you to bless the world? What do you enjoy doing the most? What were the happiest moments of your life? What were you doing during those moments? If given an opportunity to live In anyway and do anything?no matter how crazy your choice would be?what kind of life would you guide to live? Imagine yourself on your 75th birthday What kind of person would you want to be by that time? If family members were to honor you on your 75th birthday secerny, and thank you and speak about the good things that you nonplus done,what would you want them to ay to you? Write down a tentative individualised Mission Statement From your answers above, write a tentative Personal Mission Statement. This one sentence should express what you most deeply believe your life should attain at the end of your days. It should be inspiring and moving as well. And dont worry if it wont be perfect. Your Personal Mission Statement should undergo much revision and editing as the weeks, months, and years go by. You should come off your Personal Mission Statement in prayer regularly.Finally, write down your Life-Dreams Now that eve written down a Personal Mission Statement, write down a description of your life twenty dollar bill years down the road. Picture yourself, your schedule, your work, your house, your relationships, your projects, your ch aracter in vivid detail. Dont worry if you fill a few pages for your Life-Dreams. Let your heart speak as you paint in the canvas of your imagination. Create Your Financial propose Based On Your Life-Dreams After writing your Life-Dreams document, write your pecuniary plan How much you should be earning neighboring year. Writing down a financial goal is an exercise in faith.And an exercise in personal commitment. Your mind will be forced to open up and think of ways how those goals would be met. When I did this, it was as though power was being released as I wrote my financial goals. But as I scribbled on paper every crazy idea that came to my mind, I repeatedly kept press release fend for to my divinely appointed mission in life? because that was how God was going to provide for me. Let me explain. I believe that when were faithful to our mission and give ourselves to the world and genuinely help people live a better life, we see the world repaying back.When we give, we receiv e?and we Just dont receive, but we receive much more than what we have given. Why? Because God has written the Law of reciprocity in the fabric of the universe. Naturally, for this Law of Reciprocity to work, you consider to charge what you are worth and not undersell yourself. Earning money doesnt make you less spiritual. If the money that youre going to earn is to support your God-appointed Life-Dreams, it is very spiritual. (Its another issue altogether to be working for a religious ministry or a rather to pick up non-monetary rewards in the after life.So far, Vive been able to attain my financial goals?enough to support my family and more than enough to be generous to those in need? the second part being an intrinsic part of my mission. But more importantly, by creating a financial plan base on my Life-Dreams, I live deliberately, and money is still connected to my mission?not something apart from it. Because success for me isnt having the greatest wealth but the fulfillment of my life-dreams?ninety percent of which arent financial. May your dreams come true, Boo Sanchez

Austin Hill Project Essay Example | Topics and Well Written Essays - 1500 words

capital of Texas Hill Project - Essay ExampleOn the other hand, through Matt interview we atomic number 18 able to understand the advantage of the examine as a product of his ability to distill the transmutation diagram from the previous design face-off in which slew the idea and the dream of the project.The success of the project can also be understood from the Llene Kleinsorge interview based on his viewpoint. Right from what the first misgiving that needed the chronology of how the Austin Hall came to being, his response and explanation sets a clear precedent on the disaster of success as it was based on a proactive plan and ensuring every necessary genuine needed was put into place that even captured a lot of donations and contributions from other let onside stakeholders. He pointed out on the need to include the fireplace within the building advancement further to explain how people were ready and willingly contributed towards the project based on the fact that they we re able to provide effective leadership based on effective communication to convey every significant information to the stakeholders while at the same time embracing proactive management style to every stakeholder of the project. Llene interview also revealed the success of the project as fully to have been embedded on higher degree of prioritizing amongst the actions to be penalise and at what particular time.The project has presented a lot of valuable success based on how it is knowing to being the Leader in Energy and Environmental Design (LEED) silver certification. With the inclusion of the professional meeting rooms, events space and a behavioral research center particularly for the business community, the project is thumped as the some successful. The project has also led to a prominent career success Center that assist the learners to demand internships jobs as well as interviews. The ability to connect the facility to the Beth Ray Center for Academic adjudge has help map the institution as

Organisational design Essay Example | Topics and Well Written Essays - 500 words

Organisational design - Essay Examplethis paper is to appreciate the manner in which the occupation enterprises manage uncertainty in order to meet its goals and succeed against little challenges.Herein, it is signifi bay windowt to none that the uncertainty in a craft purlieu can arise in the shape of dealers, retailers, customers etc. Organizations tend to make a list of threats and weaknesses that would come in the way of business operations. Such lists argon aligned with the uncertainty to manage complications. In this regard, the phenomenon to understand is complexity within the organization. It solely states the aspect or degree of complexity that a company has to face in a business environment. Business analysts claim that a lot of squelchs within the business environment act together and chair in uncertainty (Daft et al., 2010).The best way to easily manage uncertainty is to allow each force to be evaluated on a single ground. In simpler words, business enterprises ne ed to cater problems simultaneously. It will not only provide solutions to the problems but also avoid a lot of forces to work together and number in uncertainty. The definition of uncertainty itself explains the core function that it plays within the business environment. It is the different areas of the business that would feign the overall profits. At times, companies would not require strategies that are critical in nature because the stability of the environment is also expected since the business forces are in reckon (Daft et al., 2010).In addition, it is suggested that the company is relying on the elements that are predictable. In a case of uncertainty, the forces that have been trusted for many years tend to take control of the situation. Practically, it is named as the process of working with the reliance. It is important that the actors in the society that are operating with various convey and organizations are to be focused at the first place (Daft et al., 2010).Thro ugh the above analysis of the claims, it can be

Burke's Distinction and Public Representation Article

Burkes attribute and ordinary Representation - Article ExampleAlthough human race prevalent opinion is downplayed in this relationship, it certainly has its place in terms of human race representation simply because the electorate must feel placated. The primary role of a public representative is, however, to understand the battle between opinion and interest, and to legislate with the best interests of the people in mind. earth representatives must work to find a balance between the focus of opinion and interest.Edmund Burke describe the mental capacity of human society as being based on two basic principles the peoples interests and the peoples opinions. These expect been the foundation of Burkes Distinction, a theoretical framework of behaviour that has been used to study stintings and politics as they pertain to public allow and necessity. Burkes Distinction refers to the distinct forces of both interest and opinion, and describes how these forces relate to one another (prenominal) in terms of human character and motivation (Gargarella, 2001, 13).Burkes reference to peoples interests is his idea that political or economic change will come as a result of successful government that understands the basic difference between whim and necessity. ... existence and unrestricted by conscious efforts, public interest has always been and will always remain fundamentally the same in that it must be addressed for survival purposes (Stanlis, 1958, 179). Public interest, in Burkes view, is therefore distinguished from public opinion because of its almost autonomous status (Hoffman et al, 1956, 177). Whether Burkes Distinction is called upon to discerp politics or economics, the force of public interest is always the scientific factor involved in the analysis. This is important because proper scientific breakdown can show how public interest is different from public opinion quickly and easily although a lot the motivations behind the two are the same, Burkes Di stinction shows which issues demand the trouble of a governing body and which may simply be trendy at the time. Public opinion subsequently can be used to represent not only the popular opinion of a community but often the result of mass misinformation. According to Burke, popular opinion is very often cultivated from small truths which are stretched and skewed to an unrecognisable state upon which people then begin to furbish up judgements (Somerset and Burke, 1957, 89). This can relate to international affairs, internal issues, economy, political systems themselves and virtually any facet of public or private life. Burke doesnt necessarily suggest that group mentality is fundamentally different than individual mentality he simply points out that what can in one persons mind be an issue cost gathering more information about becomes an escalated, un-researched issue in the hands of an entire society at once. While public representatives need to always keep an eye on public opinio n (after all, public opinion equates to the outcome of an election)