Branding is one of the success factors in business and the segment of social networking services is not an exception. Branding can provide a number of advantages to products and services, including social networking services such as increasing the levels of product recognition, assisting with new products positioning, and formation of strong brand equity. Due to the highly intangible nature of social networking services, their brand value can be stated to be highly subjective. Specifically, when Facebook went public in May 2012, its share has been priced as USD38, causing the company to be valuated at USD104 billion, the highest valuation for a newly listed public company to date. However, its share price has been reduced to USD18 after only several months by August 2012 (Miller, 2013). Social networking service is a highly competitive area and the major players in this market include Facebook, YouTube, LinkedIn, Twitter, Pinterest, Google+ and others. Social networking site Estimated unique monthly visitors Alexa Rank Facebook 750,000,000 2 Twitter 250,000,000 9 LinkedIn 110,000,000 14 Pinterest 85,500,000 36 My Space 70,500,000 138 Google Plus+ 65,000,000 N/A Comparisons of various aspects of social networking sites as of July 2013 Source: eBizMBA Interestingly, assessment of popularity of social networking sites is not a straightforward matter. For example, opening a Google Mail (Gmail) account automatically registers a new Google+ social networking profile, and for this reason Google has been subjected to criticism in terms of proving inaccurate data of the popularity of its social networking platform. All of the successful social networking service provides listed above target specific customer segment among population. For example, LinkedIn is mainly aimed at professional aiming to establish and sustain professional networks whereas Pinterest positions itself as an informal social networking site. However, a certain tendency can be observed in this regard in a…
Key features of social networking service design elements are associated with high levels of intractability, high levels of personalisation to the user, at the same time when maintaining high levels of simplicity. Design elements can be specified as one of the most important critical success factors for social networking sites. Generally, design elements for social networking websites include personal profile, news feed, navigation features, advertisements and others. The majority of social networking sites offer customers the possibilities of customising design of their personal profiles to varying extents. Moreover, enabling an adequate extent of design customisation for users can be specified as one of the most important critical success factors for social networking services. This point can be illustrated by referring to the case studies of My Space and Facebook. Although, Facebook was launched more than one year after the launch of MySpace, the former social networking site has become more popular than the latter in a matter of few months due a range of reasons including an adequate balance between fixed service design and customisation. In other words, while MySpace offered an excessive level of design customisation to customers, creating a visual clutter, Facebook offered more simplistic and standard design features and offered more limited design customisation, and this difference has played certain role in higher level of popularity of Facebook compared to MySpace. Effectiveness of Facebook’s approach to design has been further confirmed when a similar design template has been followed by Google in its Google+ social networking site launched in 2011. Relevance of Social Networking Service Key Features to Customer Needs The relevance of key features of social networking services to customer needs is not a straightforward issue. While social networking services aim to satisfy a set of customer needs such as communication, self-expression and recreation, innovations…
Social networking service can be defined as “an online service, platform, or site that focuses on facilitating the building of social networks or social relations among people who, for example, share interests, activities, backgrounds, or real-life connections” (Mashable, 2013). Social networking is a part of social media that can be explained as “any of many online tools that allow people with similar interests to share information, learn from others, or network in an open process” (Wilson, 2010, p.1). Customer benefits of social networking sites include staying in contact with friends and family members, making new friends, making important personal or corporate announcements, receiving regular news updates from selected portals, as well as, engaging in recreation through playing games, listening to music and watching videos and others. It has been noted that “one of the biggest benefits of an online social network is the explosive multiplication of an individual’s ability to find answers to questions” (Kraus and Friedel, 2009, p.9). In simple terms, while search engines such as Google and Bing find facts, social networking services can be used to find solutions to problems. This can be done through engaging in online interactions with other individuals who have faced similar problems in the past. Finding old school mates and re-establishing contacts with former colleagues and friends with the use of service of social networking sites can be a highly rewarding experience in personal levels and this is closely associated with emotional benefits offered by social networking services. Users of social networking services can also form new friendships on the basis of mutual interests. Communicating messages to friends and family members through status updates and video and photo sharing can also be mentioned as a substantial benefit offered by social networking services. Moreover, social networking sites can serve as an effective information…
This report represents a brief assessment of various aspects of primary education in the UK as an important merit good. The report starts with assessing the role of the UK government in providing primary education and this is followed by analysis of possibilities for private sector to provide primary education. Moreover, the report includes discussions of positive externalities of primary education and assesses the possibilities of market failure if the provision of primary education was left to provide to free market. Socially desirable merit goods are “goods that society deems so valuable that everyone should have them” (Frischmann, 2012, p.45). There are two basic characteristics of merit goods: the value of the good is not usually fully appreciated at the time of consumption, and consumption of merit goods has positive effects to other individuals (Economics Online, 2013). 1. Introduction 3 2. The Role of Government in Providing Primary Education 3 3. Private Sector as Provider of Primary Education 4 4. Positive Externalities of Primary Education 5 5. Provision of Primary Education by free Market and Possibility of Market Failure 7 6. Conclusions and Recommendations 9 References 10 How do I receive the report? Once payment is made you will receive a link to you e-mail you have registered with on Pay Pal or the e-email you have entered when specifying bank details to download the report. The report is downloaded in PDF format. The link will stay active for 7 days. How can I use the report to complete my academic assignment/research? Reports and essays offered by research-methodology.net are professionally written samples in their respective areas. Reports and essays are intended to be used as guides and sources of secondary data for reference purposes. I did not receive the link/I can not download the report? If you have any difficulties…
The following table revisits opportunities and threats faced by Starbucks in the UK market and briefly analyses the extent of fit between these and Starbucks strengths and weaknesses: Fit Comments Opportunities New product development Yes With the record revenues of $11.7 generated in 2011, Starbuck possesses sufficient amount of financial resources in order to engage in new product development in a successful manner Increasing the level of operational efficiency through technological innovation Yes Starbucks possesses financial and human resources to engage in research and development in order to increase the level of operational efficiency through technological innovation Increasing the range of target customer segment Yes Necessary amount of expertise and resources are possessed by Starbucks so that the range of target customer segment can be increasedSpecifically, a range of lower priced drinks and food need to be added to Starbucks menu so that individuals with lower budgets can also be included to target customer segment Threats Further damage to brand image due to paying no taxes scandal Yes Effective PR programs can be initiated by Starbucks so that the negative impact of the scandal can be minimised Adverse impact of changes in the UK taxation policy No Starbucks possesses no tools to impact changes in UK taxation policies Continuing economic issues in the EU and the UK negatively impacting the levels of consumer spending No Starbucks management can not address macroeconomic issues in the UK with negative implications on the levels of consumer spending The level of strategic fit for Starbucks The Level of Starbucks Match to CSF It is strategically important for businesses to address industry CSF in a successful manner in order to achieve long-term growth in the market. The level of Starbucks match to CSF is illustrated in Table…
Threshold resources for Starbucks operations in the UK consist of venues, basic coffee machine, tables, cups, human resources etc. However, threshold resources would not suffice in terms of enabling Starbucks to survive the competition, and therefore, Starbucks utilises a set of distinctive resources in UK market that include effective design of shops, a wide range of fresh coffee and other products, customer loyalty card, as well as, sophisticated Verismo technology. Likewise, threshold competencies for Starbucks may consist of selling coffee drinks and food prepared through basic processes to customers in the most basic manner. Nevertheless, Starbucks strives to achieve a competitive advantage in the market through a set of core competencies that include exceptional customer services achieved through a high level of employee motivation, focus on product quality, and strong leadership from CEO and President Howard Schultz. Starbucks also possesses the following competencies and capabilities: Generating a record total revenues of USD 13.3 billion to further contribute to its strong financial position Entering the market of super-premium juices through acquiring Evolution Fresh Increasing the range of its products through the introduction of Starbucks Blond Roast Initiating a set of corporate social responsibility programs and partnerships such as strategic partnership with DonorsChoose.org, initiating Youth Action Grants, etc. Launching personalised Frappuccino drinks Starbucks Corporation Report uploaded on April 2017 contains the application of the major analytical strategic frameworks in business studies such as SWOT, PESTEL, Porter’s Five Forces, Value Chain analysis and McKinsey 7S Model on Starbucks. Moreover, the report contains analyses of Starbucks’s business strategy, leadership and organizational structure and its marketing strategy. The report also discusses the issues of corporate social responsibility.
On May 1, 2004 the European Union (UN) has been enlarged to comprise additional ten countries with combined population of almost 75 million people. Specifically, new countries that formally entered EU consist of Estonia, Latvia, Lithuania, Poland, Czech Republic, Hungary, Slovakia, Slovenia, Cyprus and Malta. This important geo-political event has had significant implications on national economic, social and political life of all original member countries of the EU (Europa, 2013, online).This essay analyses the impacts of EU enlargement on the state of national economy in the UK focusing on labour migration. The essay starts with discussions about the reasons for the enlargement of EU in 2004. This is followed by analysis of implications of enlargement of EU to the state of national economy in the UK as compared to expectations. Moreover, the essay is going comprises the overview of measures initiated by the UK government in order to address the potential negative implications of the EU enlargement on the state of the national economy in the UK. The essay is concluded by discussing various scenarios in the development of immigration policies in the UK with the aims of protecting national economy from negative impact of a range of internal and external factors. After the fifth EU enlargement in 2004, the majority of Western European countries (EU15) have introduced temporary restrictions on the movement of individuals from newly EU member states in order to protect their national economies from the large uncontrolled inflow of low-skilled immigrants. Such restrictions were not applied only by the UK, Ireland, and Sweden (Longhi and Rokicka, 2012), and the implications of this government decision for the UK are assessed further below. Introduction 1 Reasons for the enlargement of EU in 2004 2 Implications of enlargement of EU to the state of national economy in the UK…
Longleat Adventure and Safari Park, owned by Owned by Longleat Enterprises Limited has been operating from April 1966 and comprises more than “15 fabulous attractions, including the new multi pound Jungle Kingdom and Longleat House, one of the most stunning stately homes in Britain” (About Longleat, 2013, online). The following table illustrates Longleat Safari Park SWOT analysis: Strengths Lack of competition in the UK High quality of customer services Affordable prices for Longleat Hotels Weaknesses Not possible to reach the park by public transport “Mercedes Destroyed by Monkeys at Longleat Safari Park” and some other similar videos on YouTube demotivating people to attend to park Opportunities Increasing ranges of services Possibilities of attracting sponsors Increasing ranges of animals Threats Negative impacts of various environmental groups Visitors being attacked by animals Environmental changes posing risks for animals in Longleat Safari Park
Thorpe Park is one of the most popular theme parks in the UK and it belongs to Merlin Entertainments Group, the world’s second biggest visitor attraction operator with more than 30 million visitors annually and about 13,000 employees (Merlin Entertainment Group, 2013, online). Merlin Entertainments Group management have specified its mission statement as ‘The delivery of memorable experiences to our millions of guests underpinned by the very highest Health & Safety standards’. Besides Thorpe Park, Merlin Entertainments Group portfolio includes a range of famous entertainment brands such as Legoland, Chessington World of Adventures, Madame Tussauds, Heide Park, The London Eye, Warwick Castle, Sea Life, Alton Towers, Gardaland, and London Dungeons (Merlin Entertainment Group, 2013, online). SWOT analysis can be used in order to represent relevant secondary data in an appropriate format to assist in decision-making. SWOT analysis can be explained as a “review that helps planners compare internal organisational strengths and weaknesses with external opportunities and threats” (Boone and Kurtz, 2013, p.46). The following table illustrates Thorpe Park SWOT analysis Strengths Greater ranges of ages of target customers (not only children) A wide range of rides Effective website design World-famous rides such as SAW, STELTH, and COLOSSUS Weaknesses High level of seasonality Geographical location not far from Chessington World of Adventures and Windsor’s Legoland Expensive prices Opportunities Introduction of new, innovative rides Increasing ranges of services Formation of strategic collaborations with other companies in catering and entertainment industry Threats Injuries to customers due to technical or other faults Further increasing influence of indirect competition – video games Negative impacts of relevant government legislations References Boone, L.E. & Kurtz, D.L. (2013) “Contemporary Marketing” Cengage Learning Merlin Entertainments Group (2013) Available at: http://www.thorpepark.com/misc/merlin-entertainments.aspx
Failure of plans in tourism industry, like any other industry is not a rare occasions. Plans may go wrong as a result of the impact of external environment, as well as, mistakes and shortcomings taken place in planning process. Shortcomings during the planning process resulting the in the failure of plans may take place in the following manners: Mistakes may occur during the first stage of planning process, which is study recognition and preparation. For example, management may decide to conduct relevant study on regional levels, when the scope of the study necessitates data collection on the national level, thus compromising the quality of the plan from the outset of the planning process. Moreover, individuals responsible for tourism planning may fail to formulate SMART objectives. In this case, objectives may be too vague and lack deadlines, and it would be not possible to assess the level of achievement of these objectives in an appropriate manner. Shortcomings planning process can also take place during the stage of survey of existing data. Specifically, such shortcomings may involve collection of outdated data, collection of irrelevant data, collection of data from biased and unreliable sources etc. Arguably, implementation of new surveys can be specified as one of the major stages in tourism planning process that accommodates the most mistakes. Such mistakes may be caused due to the incompetence and the lack of previous experiences and they may involve selection of inappropriate data collection tools, sampling mistakes, and others. Analysis of secondary and primary data can be mentioned as another stage in the planning process in tourism where mistakes can happen possibly resulting in the failure of the plan. Mistakes in data analysis may involve failure to identify common patterns within the information provided by survey respondents, failure to achieve a required level of depth…