Canadian Code of Advertising: History, Society, Criticism

Canadian Code of Advertising The Canadian Code of Advertising Standards, which has been developed to promote the professional practice of advertising, was first published in 1963 The code sets the criteria for acceptable advertising and forms the basis upon which advertising is evaluated in response to consumer, trade, or special Advertising: any message expressed in…

Competition in a Free Market

–          North Americans live in a free market society –          In a free market, businesses can make a profit, which means that successful business people can keep some of the money that they make –          Profit drives business; the more successful a business becomes, the more profit the owner keeps –          Profits may be reinvested…

Business Competitive Advantages

businesses look for advantages over their competition Some of these advantages are temporary, part of the continual back- and forth activity that occurs among competitors i.e. Pepsi and Coke Sustainable Competitive Advantages o   Sustainable competitive advantages are methods by which a business holds on to its customers, in spite of the competition o   Developing a…

Customer Relationship Management

Marketers use customer relationship management tools to create marketing programs that satisfy customers Customer relationship management involves three stages: customer acquistion, customer retention, and customer reacquisition Customer relationship management Overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction Information technology and database systems Customer contact brands or companies…

Alvin Toffler: Biography & Theory

Biography Alvin and Heidi Toffler Heidi helped Alvin write some of his books, but credited them as Alvin Toffler Influenced many leaders around the world Described by “Financial Times” as the “World’s most famous futurologist” Also mentioned in “People’s Daily” as one of the top 50 foreigners that shaped modern China “Toffler Associates”, the executive…

Teams and Teamwork: Decision Making in Teams

Teams and Teamwork: Decision Making in Teams Decision making – is the process of making choices among alternative courses of action. How Teams make Decisions Decision by lack of response: one idea after another is suggested without any discussion taking place. Decision by authority rule: the leader, manager, committee head, or some authority figure makes…

Pros & Cons of Walmart: The High Price of Low Cost

Wal-Mart has been apart of our lives for over 50 years, becoming a dominant force in the retailing sector. There are several disputes amongst economist whether Wal-Mart has a positive or negative influence on our economy and society, many criticizing the Wal-Mart Corporation for its negative and careless approach to becoming the powerhouse it is…

A New Capitalist Manifesto: Hernando de Soto & Mystery of Capital

De Soto and his Influence For many of the world’s poor, the promises of capitalism are nothing more than empty rhetoric. Latin American economist Hernando de Soto is one of those providing the fresh thinking that is required, with his focus on the legal aspects of economic development in emerging economies. De Soto has an…

Marketing: Customer Relationship Management

Customer relationship management (CRM): The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction. (Software that keeps your files, banking systems have all your information stored). The software can be assessed from wherever because its on the companies server. CRM entails cultural changes: CRM is an overall company…

Marketing: Distribution and Supply Chain

Nature and importance of marketing channels: Marketing channel: the set of individuals or firms involved in the process of making a product available. Intermediaries: Individuals or firms performing a role in the marketing channel, involved in making a product available. Functions performed by intermediaries: –          Transactional function: This is done when they buy and sell…

Market Segmentation & Targeting

Market segmentation: The aggregation of prospective buyers into groups that have common needs and respond similarly to marketing programs. 2 main market segments: –          Consumer market: Consists of products, ideas, and services that a person can purchase for personal use –          Business market: Products that are purchased either to run a business or to be…