Marketing as a concept in business Essay Example | Topics and Well Written Essays - 3250 words

Marketing as a concept in business - Essay Example Mass media as a tool of advertising has a number of advantages over other forms of brand promotions key among which is the fact that mass media overcomes the geographical barriers some of which prevent accessibility of certain regions. Mass media communicates spontaneously; this implies that the information communicated reaches its consumers equally provided they have the ability to access it. Furthermore, some forms of mass media provide details and are stored for future references. Such mass media as newspapers and magazines have longer lifespans and therefore provide exhaustive information about a product in case of an advert. The above features coupled with the possibilities of the internet as a mass media makes the media the most powerful tool for entrepreneurs to increase the visibility of their products and possibly the sales. Richard Ohmann evaluated these among other possibilities of the media in constructing his thesis statement, which is adequately accurate. Capitalism is a form socioeconomic system based on the abstraction of resources into privately owned. Capitalist, therefore, aims at increasing their sales and possibly the profitability of their goods and services. Capitalists are aggressive in their production, service delivery and marketing strategies, they attempt to use progressively smaller amount of money in the production and conducting business to yield an abnormally huge profits. They are profit oriented and rarely consider the needs of either the consumers or the society. Ohmann therefore postulates that capitalists will employ the media in increasing their product visibility with an aim of improving profitability (Bogomolova, 2011). Tom & Jacqueline, (2003) explains that the modern day society consists of marketers who desire to increase their product presence by using the least amount of money possible. However, the cost of advertising is progressively increasing in accordance to the quality of advertising services as most entreprene urs express preference for the established media thereby resulting in competition. So while the established capitalists scramble for the prime time the other less established capitalists parade their products and services in the off peak hours of the media. These activities by marketers result in a media fraternity filled with advertisements for products and services all day. Ohmann describes such a scenario in his hypothesis by claiming that capitalists will eventually saturate the market with their goods and products. The modern day market is literally saturated with products and services. The internet provides yet another advanced platform currently packed with entrepreneurs and marketers all of who have resorted to the cheaper social networking sites to advertise their products (Stewart, 1976). Question 2 Advertisement just as defined earlier is a means to improving the visibility of products and services thereby improving the sales. Products and services have an aspect of sex a ppeal to them thereby validating the use of women and sexuality in advertisement. The development of

The balanced scorecard Dissertation Example | Topics and Well Written Essays - 7250 words

The balanced scorecard - Dissertation Example Research Methodology 16 Qualitative Research 16 Data Collection 17 Research Limitations 17 Research Findings- Empirical Evidence 17 Conclusion 30 Reference 33 Bibliography 36 Introduction 3 Literature Review 5 Overview of the Balanced Scorecard 5 Development of the Balanced Scorecard 8 Benefits of using the BSC 11 Balanced Scorecard Implementation in large enterprises and SMEs 12 Criticisms of the Balanced Scorecard Methodology- challenges of implementing the Balanced Scorecard 14 Research Methodology 16 Qualitative Research 16 Data Collection 17 Research Limitations 17 Research Findings- Empirical Evidence 17 Conclusion 30 Reference 33 Bibliography 36 Introduction Emerged as the most commonly used strategic performance management tool supported by proven automation tools and design methods, the balanced scorecard is extensively used by managers in organizations today for keeping track of activities undertaken by staffs and monitor and control the consequences resulting from these activities. Today’s organizations are amidst a revolutionary transformation in the business environment which is gradually transforming itself from industrially competitive structure into an information competitive one. Arising out of this cut throat competition organizations have been increasingly looking at improving their businesses further and thus the importance of initiatives like just-in-time system, total quality management systems, Re-engineering, employee empowerment etc have gained prominence. Even though such initiatives were successful in bringing about improvement in shareholders’ value, their disjointed structure primarily looked at short term growth and performance. The demand for creating long range competitive capabilities and improving the model of the historical cost financial accounting triggered the creation of the Balanced Scorecard. Widely used in industries and businesses the scorecard acts as a strategic management and planning system used the government and non profit organizations with the aim to align business activities of the organization with its strategic vision and mission, improve its internal and external communications and finally to monitor performance of the organization against strategic objectives. Originated by Dr. Robert Kaplan and David Norton this performance management frame successfully adds the no financial performance measures with the financial metrics and allows managers to have a comprehensive and balanced view of the organization performance. Kaplan (1994) has particularly used the example of Rockwater Company for explaining the developmental process of the balanced scorecard for ensuring that companies are able to realise their goals and objectives. Industries such baking and insurance have been particularly benefitted through the implementation of the process. Kaplan has explained the management structure of connecting the business units’ strategies with the entire interest of the company. Martinson (1999) has also made use of the case study method for exploring the impact on a corporate information system operation department through the adoption and implementation of the balanced scorecard in four different perspectives such as user orientation, corporate value, internal process and future preparation for the measurement and evaluation of the performance of information systems. The results have clearly shown that balanced scorecard can be effective in serving as a successful measurement system in a strategic information system (Chi & Hung, 2011, p.226). On the other hand Chia and Hoon (2000) has tried to study the procedures for the promotion of the balanced scorecard and the criteria establishment process in two of the largest merchandise circulation firms based in Singapore. The results have shown that the promotion of the system has been particularly effective in clarifying the vision of these companies and in the preparation of the strategy to be practiced. Numerous other empirical evidences have shown positive results with the implementation and use of balanced scorecard in organizations. The project brings forth an analysis of the effectiveness of the balance