The prices of basic and manufactured products Essay Example

The prices of basic and manufactured products Essay Basic commodities are usually necessary for everyone; although the price varies people have to buy them. It is common to see especial offers and promotions within basic branded products like rice and milk, but they follow a general price. The prices also depend on the conditions like weather and transport. This is the reason why they are always fluctuating. Manufactured products have more stable prices because they are not consumed frequently and because the demand depends on the price. But there are also other reasons to understand the stability of these goods. First of all, basic commodities are the raw products, which can be processed; they differ from manufacturing industry due to biological character of its form of production. Price fluctuations take the form of fairly regular cycles overtime. Manufactured products use basic commodities as part of their inputs. A difference between them is that for the output of a basic commodity there is a time lag before an intended expansion in production actually is available or sale in the market. Manufactured product enterprisers have the time and possibility of changing the product because of a change in the demand. When there is overproduction of goods that can be rotted, prices decrease, sometimes the enterprisers prefer to hide or burn the goods to maintain the equilibrium. It is easier to control the production of manufactured goods making their price more stable. We will write a custom essay sample on The prices of basic and manufactured products specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The prices of basic and manufactured products specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The prices of basic and manufactured products specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Bad weather sometimes stops some products to be shared, producing scarcity, so prices increase. For example huaycos in Perà ¯Ã‚ ¿Ã‚ ½ stop the trucks that bring lemon or vegetables, so supermarkets increase the price because these are necessary products so people would by anyways. For a basic good, the demand of branded product like Costeà ¯Ã‚ ¿Ã‚ ½o rice varies a lot depending on the price given. For example, if someone is used to buy 1 kg of rice for a week of a determinate brand at a given price, if a competence brand decreases price, this person may be willing to buy this other brand because the rice is the same. But he would continue buying rice. If this person doesnt care about rice and he found that price of rise is very high, he would probably prefer buying potatoes instead of rice. Basic commodities are often bought, so people cares lot about the prices but this doesnt mean a great change in demand. The variation of the quantity demanded is less than the variation of prices of a product, so basic commodities are inelastic. This means that the prices can be changed and people would not stop buying them. The prices are not stable. For example, gas for cars is inelastic, because if price increases according to the international market, people would continue buying it, perhaps less quantity but the change is minimum. Salt for example, has no substitutes, so it is inelastic, the brands are more elastic, but salt as product is less elastic. So people buy them although the price changes. For manufactured products is different. People choose to buy according to their possibility, price and likeness. Manufactured products like pasta, detergent and cars have different brands. The variation of the quantity demanded is more than the variation of the prices of a product; so manufactured products tend to be elastic. This means that if prices changes people buy other things, this make the price of this kind of products more stable. There are exceptions also: if someone is able to buy a Mercedes Benz Car, he wont buy a Toyota because it is cheaper, he would buy the Mercedes Benz because he like it. But if another better brand appears perhaps the demand for Mercedes Benz would prefer the new, more expensive and better car. There is always a change in the demand, more than the variation of prices. As manufactured products are rarely bought, the demand and prices depend on the substitutes and competence. Promotions also increase the demand for products, if some brands advertise a basic commodity product people buy more of them and perhaps leave aside other products and brands. So people can choose making manufactured products prices stable. In a short run it is impossible to increase or decrease production of a basic commodity because it takes time to get them from nature, so products are less elastic. A better explanation for this is that there is a time lag before and intended expansion in production actually is available or sale in the market. The decision by producers to change their output depends on the basis of the current market price. Thus, supplies in year 2 are dependent on prices actually received in year 1, rather than what is expected to be received in year 2. Producers are many and they each take decisions to adjust their scale of production according to their personal convenience. So these conditions make that if supplies happen to be scarce in one time period, the high level of the market-clearing price will encourage producers to begin a major expansion in production. This rise in production will in due course depress market prices, which stimulates a major contraction in the scale of production. Showing the reasons of fluctuation of basic commodities supply and prices. An example of a shift in supply was the excess of potatoes in 1992 in Britain led to growers receiving very low prices. An example of a leftward shift in the supply curve would be the impact of frost damage on coffee in Brazil in June 1994. In September 1994 a tropical storm passing through the Caribbean divested the banana crop in the Windward Islands, resulting in a loss of export earnings of millions of dollars for Dominica, Grenada, Sta Lucia and St Vicent For basic products the difference in quantity supplied is less than the difference in prices, making it relatively inelastic. For these products, when price increases although producers want to increase production, they cant because of lack time. For manufactured products, the capacity of increasing output can be managed according to the technology. So supply is more elastic. The income elasticity for basic commodities is very low, because rich people, as their income increases they do not buy more basic products, but they increase their manufactured products. So luxury products have higher income elasticity, for them. This also makes the basic products less stable as rich people dont care about the price, and make luxurious and manufactured product stable, as people care about the price. Poor people only manage to buy basic necessity products, so as there is more poor people the demand for these products is greater making the curves more sensitive. Some basic commodities prices also depend on international agreements, for example copper, gold, coffee, cocoa and oil. Coffee prices are amongst the most volatile in international commodity markets. Fluctuations in demand and supply conditions can cause big swings in market prices for producers. One key factor is the control over market supply engineered by the Association of coffee Producing countries like Brazil and Colombia, by seeking a balance between world supply and demand the ACPC aims to stabilize coffee prices at levels that are fair and remunerative to producers and yet consistent with increasing consumption. However it was agreed to have a price fluctuating between 95 cents per pound as the floor and 105 cents as the ceiling. The growing global demand for chocolate has helped push the price of cocoa up to 50% within 2 months and led to fears of shortage to come. The global output has dropped because of weather problems in the main world producer country: Ivory Coast So this factor shows the instability of basic commodities as cocoa. The international community no longer maintains large stocks of commodities as it is used to, in an effort to stabilise the incomes received by commodity producers. Farmers and suppliers of other commodities are now much more vulnerable to the swings in international market prices. Commodity prices are particularly sensitive to general fluctuations in the economies of countries that consume them. The international oil market is placed under daily scrutiny because oil is perhaps the most important internationally traded commodity. World prices fluctuate because of changes in demand and supply. Oil is an essential input in the production processes of many industries. The demand for oil also comes from household consumers to meet their energy requirements. And, crude oil is refined into petroleum products for transport. This makes the oil demand constantly grow. The OPEC had achieved substantial cuts in total production in 1999, in the wake of the collapse of oil prices in 1997 because of the Asian economic crisis. There was pressure on the OPEC cartel to cut output and raise price in order to boost revenue from oil exports to rebuild their own domestic economies. An inward shift in oil supply matched with an increase in demand causes an increase in demand causes an increase in equilibrium price. Oil supply from non-OPEC countries was affected by cutbacks in capital investment spending when oil prices dropped in the late 1990s. So again, a basic commodity suffers of fluctuating demand and prices, making them not stable. For manufactured products, the enterprises are in charge of measuring they profits and calculate suitable price for their products, organizations cant discuss the prices. So if other countries want our manufactured products, they have to pay what the enterpriser asks. Internationally, when basic product prices increase are elastic, but when they decrease are inelastic. This is controlled by the superpowers that buy our basic products so it is better to export manufactured products that are more stable. Accordingly to my analysis, the price for basic commodities are less stable that the price of manufactured product because their prices are inelastic, the variation of demand is less than the variation of the price. Supply also depends on the difference of prices. When there is overproduction of basic goods, prices fall and enterpriser try to reduce output to receive more revenues. This shows the constantly instability of basic goods. These kinds of goods usually have a regular demand and it is greater than manufactured products. Manufactured goods have lots of substitutes to choose. Supply depends on demand and the prices depend on the decision of the enterprisers. Also production can be controlled by machinery. So the prices are more stable.

101 Chips and Salsa and Academic Writing Professor Ramos Blog

101 Chips and Salsa and Academic Writing Chips and Salsa Chips and Salsa Don’t you hate it when you have too much of one and not enough of the other? There has to be the appropriate amount of chips to salsa for it to work, to taste good. What are we talking about? What is Academic Writing? The article â€Å"What is Academic Writing?† is a brief introduction to the writing you will be expected to do in college. The article begins by addressing common myths about what academic writing is.  Which ones have you heard before?  Think of one or two more myths, or ideas of writing, that you have heard before. Myth #1: The â€Å"Paint by Numbers† myth Myth #2: Writers only start writing when they have everything figured out Myth #3: Perfect first drafts Myth #4: Some got it; I don’t- the genius fallacy Myth #5: Good grammar is good writing Myth #6: The Five Paragraph Essay Myth #7: Never use â€Å"I† Irvin quotes a study by Lee Ann Carroll about the writing students do in college: What are usually called ‘writing assignments’ in college might more accurately be called ‘literacy tasks’ (7). What do you think she means here? In a short paragraph, write what you think the author is saying. What is academic writing according to our article? What does Carroll mean by literacy tasks? Chapter 8  Ã¢â‚¬Å"As a Result†: Connecting the Parts Chapter 8 covers what to do when connecting the parts of your essay together. They explain that creating connections between sentences and ideas increases sentence variety and helps construct a more convincing argument. Consider transitions both  within  a paragraph and  between  paragraphs. Look at  pages 108-109  for transition words. They give four principles: Using transition terms (like â€Å"therefore† and â€Å"as a result†) Adding pointing words (like â€Å"this† and â€Å"such†) Developing a set of key terms and phrases for each text you write Repeating yourself, but with a difference

Managing Activities to achieve results Essay Example | Topics and Well Written Essays - 2250 words

Managing Activities to achieve results - Essay Example NIKE’s mission statement is â€Å"to bring inspiration and inspiration to all athletes in the world, if you have a body, you are an athlete† (Epstein et al, 2012: p341). NIKE has a preference for using Environmentally Preferred materials, or EPM, which have a lower environmental impact on waste or water, energy, and chemistry. They contend that sustainable products can only be achieved via addressing the product materials, which they do by forging closer relationships with suppliers to ensure they deliver against their needs, for instance, sustainability. One way that NIKE optimizes material use is through the continuous assessment and reduction of overall numbers utilized in production. The focus also aids in management of complexities and cost in the supply chain and design phase. The shift from traditional materials to EPMs requires comprehension of the material characteristics and their availability. The structure of NIKE An organizational structure activities like supervision, coordination, and task allocation that are directed to achieving the aims and objectives of a company. Organizations are, basically, clustered entities with variations. Depending on objectives, the company can be structured in various ways, which determines its operative and performance mode (Daft et al, 2010: p34). It allows for the allocation of responsibilities with regards to various processes and functions to entities such as the individual, workgroup, department, and branch. It also affects the action of the organization by the provision of the foundation for standard procedures of operation and routine, as well as determination of the individuals who participate in decision making and shape the actions of the company (Daft et al, 2010: p35). NIKE has a matrix organizational structure, also known as the flat organizational structure (Epstein et al, 2012: p342). In the flat organization at NIKE, the employees report to the product or project teams that are led by p roduct managers and to the department manager. Every brand possesses a department with this department making independent decisions. The departments also have sub-departments that are responsible for mini-tasks in the department. The product team and managers are involved in decision making with regards to production and specifications with the managers at the department level involved, primarily, in issues to do with policy, for instance, sustainability (Epstein et al, 2012: p342). The production team is able to react and take decisions faster than traditional department heads as these are removed from the line of production. NIKE’s Vision A vision statement is definitive of what an organization will perform in the future, as well as why it will be in existence tomorrow with defined goals with set dates of accomplishment (Daft et al, 2010: p45). Vision statements involve the organization’s current status and acts as a direction on the path the organization wishes to t ake. It can also be useful as a marketing tool since it acts to announce the organization’s purpose and goals to the media, vendors, clients, suppliers, and employees. NIKE has a clear vision that entails decoupling growth of profits from resource constraints (Epstein et al, 2012: p345). The vision is one that views the world in transition to a sustainable economy from an industrial one with renewable

The economics system Essay Example | Topics and Well Written Essays - 5000 words

The economics system - Essay Example With the advancement in the technological and environmental aspect, the nations are involving in better means of production and distribution to earn competitive advantage in the global scenario. The concept of the economic system is elaborated as the system of production and trade of goods and/or services in a community. The overall economic system includes individual, organisation, sectors and end users of a society or in general, it is often referred as the mode of production. Moreover, economics is identified on a wider concept, which is sub-divided into the two aspects i.e. micro and macroeconomics. Microeconomics focuses on demand and supply of products and/or services in the markets in relation to the change in the price level. On the other hand, macroeconomic dimension includes the relationship of the aggregate variables including the purchasing power, price income and money (McConnell et al., 2009). The study of the overall economic system comprises both the micro and macro economy of a nation or a particular community at large about how firms and various agencies are linked among each other, how the communication information flow between the them and the social relationship in the economic system. Thus, in larger and boarder term, it comprises various processes that are followed within a geographical region in the production, distribution and circulation of labor for producing products and/or services, machineries, consumer goods and infrastructure among others. Moreover, the economic system of one nation varies with other nations due to differences in the political structure, culture and environmental conditions. In this regard, the point will be justified with the fact that Chinese economic system is comparatively very complex as compare the western nations’. The economic system consist of both capitalistic and socialistic aspects and the global economic system falls in four main

Five Essay Questions-Operations Management Assignment

Five Essay Questions-Operations Management - Assignment Example That is the only way an organization can get its resulting products and services to the right market and in the right manner while considering the time and cost aspects of the processes. It is through the knowledge of OM that an organization develops its innovation towards competitive advantages, which exist inextricably alongside processes. The processes range from the use of emerging and appropriate technology to the use of existing resources to create new ones and new values. It is only when operations are managed in ways that create the notion of differentiation that such processes lead to organizational success (Chase, Jacobs & Aquilano, 2007). CPM/PERT analyzes the tasks involved in a certain project in terms of the required time to complete each. The use of CPM/PERT techniques for managing projects is founded on the concept that a certain set of critical activities that constitute the longest path through the network of activities will control the entire project. The identification of the critical activities is important because they can then be assigned to responsible teams, allowing the management resources to be used optimally by concentrating on the key activities that determine the entire project’s fate. As a statistical tool, its design is intended to map, schedule and manage complex projects and analytically represent the necessary tasks to complete a project, employing time as the variable reflecting planned performance specifications. Advantages of CPM/PERT techniques include defining dependencies and making them visible and also potentially reducing project duration. This is possible because precedence r elationships between the structures of work breakdown are better understood, facilitating the potential to reduce a project’s lifecycle. However, the disadvantage is that individual dependency relationships can

Pantaloon Retail Indias Leading Retailers Marketing Essay

Pantaloon Retail Indias Leading Retailers Marketing Essay Pantaloons origin can be traced to 1987 when the company was incorporated as Manz Wear Private Limited. Originally incorporated as Manz Wear Private Limited on October 12, 1987.The Companys name was changed to Manz Wear Limited on September 20,1991, further to Pantaloon Fashions (India) Limited on September 25, 1992 and to Pantaloon Retail (India) Limited on July 7 1999. The company launched Pantaloons trouser, Indias first formal trouser brand. In 1992, Pantaloon launched its IPO. In 1994, The Pantaloon Shoppe exclusive menswear store in franchisee format was launched across the country. Pantaloon started distribution of branded garments through multi-brand retail outlets across the nation. In 2001, Big Bazaar, Indias first hypermarket chain was launched. In 2002, Food Bazaar, the supermarket chain was launched. In 2006, Future Capital Holdings, the companys financial arm launched real estate funds, Kshitij and Horizon and private equity fund Indivision. The company is also planning forays into insurance and consumer credit. The Pantaloon Retail (India) Limited, entered the retail market in 1997 with its first flagship store hosted by Kolkata. Pantaloons began as a fashion retail chain. The Future Group launched it as its introductory venture. Such was its popularity that by the year 2001, many more sub-retail lines were launched that dealt in specific merchandise like footwear, fashion accessories, food, grocery and electronics. Registered Office of the Company: Pantaloon Retail (India) Limited Pantaloon Knowledge House, Shyam Nagar, Off. Jogeshwari Vikhroli Link Road, Jogeshwari (East), Mumbai 400 060 Registration No. 44954/1987 Registrar of Companies at Mumbai, Maharashtra located at Hakoba Mill Compound, Kalachowki, Mumbai 400 033. Headquarters: Mumbai Industry: Retailing Founder: Kishore Biyani Area served: India (7 million square feet of retail space) Parent company: Future Group Website: www.pantaloon.com Retail Industry Retailing is the worlds largest private industry. Retail is the worlds largest private industry with global retail sales of roughly USD 8 trillion. Retailing is also one of the biggest contributors to the Gross Domestic Product (GDP) of most countries and also one of the biggest employers. (Source CII McKinsey Report titled Retailing in India, the Emerging Revolution) In India, however, the retail sector has seen a high level of fragmentation with a large share held by unorganized players. India has a large number of retail enterprises. With close to 12 million retail outlets India has one of the highest retail densities in the world. In terms of the structure, the industry is fragmented and predominantly consists of independent, owner-managed shops. The retail businesses include a variety of traditional retail formats, such as kirana stores which stock basic household necessities (including food products), street markets-regular markets held at fixed centres retailing food and general merchandise items, street vendors mobile retailers essentially selling perishable food items-fruits, vegetables etc and small non specialized retailers. Growth of Organized Retail in India India is expected to show similar trends as Indian consumers in the past have shown an ability to leapfrog evolution cycles as has happened in the case of various consumer products such as mobile phones. KSA Technopak estimates organized retail in India to reach 12% to 13% of the total retail market by 2010 with sales of Rs. 1700-1800 billion, aided by improved real estate infrastructure and easier access to capital. Rs(billion) 2002 2010 Estimated size of retail in India 10,700 14,000 Share of organised retail in India(%) 2 12-13 Size of organised retail in India 225 1700-1800 Source: KSA Technopak The Indian retail industry is evolving in line with the changing customer aspirations across product groups, with modern formats of retailing emerging. Composition of Organized Retail A break-up of sales in organized retail shows Lifestyle (clothing and textile, footwear, home, watches and jewellery and health and beauty) as the largest segment accounting for 73% in value terms. This is followed by food and grocery accounting for 14% of the organized retail value. Break-up of consumers expenditure in organized retail Rapid growth of organized retailing is expected in the food segment. We believe this can be attributed to the highly unorganized nature of the market currently, which thus presents an attractive potential, and the growing preference of consumers to shop at modern retail formats. Clothing is the other segment expected to show high growth potential. Factors affecting changes in the retail sector An analysis of private final consumption expenditure in India suggests that the food, beverages and tobacco segments constitute about 50% of total household expenditure, with clothing and footwear contributing just around 5%. However contribution of food and groceries to organized retailing is just 14%. There are a large variety of retailers operating in the food retailing sector such as independent grocers, fair price shops, food specialists etc. A greater number of higher income Indians, prefer to shop at supermarkets because of convenience, range of merchandise, higher standards of hygiene and the attractive ambience. Among the segments of organized retail, food retail is expected to develop the fastest. Going forward, it is expected that supermarkets will be the fastest growing food retailers. Their sales are expected to grow by about 40% per year during 2003-2008 (Source: Retailing in India Euro monitor 2004 report). We believe the traditional Indian consumer who is now becoming more fashion and brand conscious welcome more sophisticated outlets retailing footwear which is evident from the fact that the consumer spend on footwear has increased from 1% in 1999 to 2.3% in 2003. With growth in incomes, Indians have been spending more on health and beauty products. As in the case of other retailing sectors, small single-outlet retailers also dominate sales of health and beauty products. Another interesting trend that is emerging is the increasing spend on leisure and entertainment. Indian consumers who were traditionally averse to spending money on entertainment have started spending on eating out, movies and theatre. The entry of a large number of foreign consumer durable companies into the Indian market during the 1990s after the government liberalized its foreign investment and import policies transformed the consumer durable sector dramatically. A much larger variety of consumer electronic items and household appliances became available to the Indian customer. Competition among companies to sell their brands provided a strong impetus to the growth for retailers operating in this sector. Modern Retail Formats Some of the modern retail formats and their value positions are given below. Department stores These large stores retail primarily non-food items such as apparel, footwear, accessories, cosmetics and household products. They stock multiple brands across product categories, though some of them focus on their own store label (on the lines of Marks Spencers and St. Michael). Several local department store chains have opened shop in India in the past five years. We believe the convenience factor coupled with the aspirational perception of shopping in a department store has contributed to their growth. The larger chains of department stores (Namely Pantaloons, Shoppers Stop,Westside and Lifestyle) have presence in the metros and mini metros. Supermarkets A supermarket is a store which is more of a large self-service grocery store selling groceries and dairy products and household goods that are consumed regularly. These are neighborhood stores offering home and personal care products and food products that a typical household consumes on a day to day basis. These stores offer convenience of shopping by making available a large variety of products at one place. Some of the well known supermarket chain includes Food Bazaar, Nilgiris, Food World, Apna Bazaar, Trinethra etc. Hypermarkets/Discount stores A hypermarket is a store which combines a supermarket and a department store. The result is a retail facility which carries an enormous range of products under one roof, including full lines of fresh groceries and apparel. It is a large format store that aims at retail consolidation by being a single point contact between the brand owners and customers. They are planned, constructed, and executed in a manner that a consumer can ideally satisfy all of their routine weekly shopping needs in one trip to the hypermarket. Large variety of products is available at reasonable prices with discounts built in for volume purchased. Big Bazaar, Spencers, Star India Bazaar are examples of hypermarket formats. Seamless Mall Seamless mall is a format which is relatively new in India. In this format, various brands operate their retail areas without any wall between them, providing a seamless shopping experience. This makes it possible for shoppers to compare brands with ease while they shop. We believe this also means that the store can reallocate space more easily based on merchandise/brand performance and customer feedback. Besides offering apparels, accessories and lifestyle products these malls are also equipped with entertainment and leisure facilities. Central is an example of a seamless mall. Speciality stores Specialty stores as the name suggests are stores that specializes in a particular offering. A specialty store carries a deep assortment within a narrow line of goods. Furniture stores, florists, sporting-goods stores, and bookstores are all specialty stores. Examples of specialty stores in India would include Planet Sports, aLL, Planet M, Musicworld, Crossword etc. FUTURE GROUP Introduction Retail forms the core business activity at Future Group and most of its businesses in the consumption space are built around retail. Future Groups retail network touches the lives of more than 200 million Indians in  73 cities and 65 rural locations  across the country. The group currently operates around  1,000 stores  spread over  16 million square feet  of retail space. Present in the value and lifestyle segments, the groups retail formats cater to almost the entire consumption expenditure of a wide cross-section of Indian consumers. GROUP VISION Future Group shall deliver Everything, Everywhere, Every time for Every Indian Consumer in the most profitable manner. GROUP MISSION We share the vision and belief that our customers and stakeholders shall be served only by creating and executing future scenarios in the consumption space leading to economic development. We will be the trendsetters in evolving delivery formats, creating retail realty, making consumption affordable for all customer segments for classes and for masses. We shall infuse Indian brands with confidence and renewed ambition. We shall be efficient, cost- conscious and committed to quality in whatever we do. We shall ensure that our positive attitude, sincerity, humility and united determination shall be the driving force to make us successful. The Future Group in its turn has many verticals other than just Pantaloons and its associated fashion retail chain. In fact, there are 6 verticals in all under the domain of the Future Group that almost covered the entire scope of Indian consumption. These 6 are: Future Retail (retail related) Future Capital (Finance related) Future Brands (Brand Management related) Future Space (Real Estate related) Future Logistics (Management and Distribution related) Future Media (Retail Media Management related) Led by Pantaloon Retail, the Future groups flagship company, the group manages some of Indias most popular retail chains like; Fashion: The group offers a variety of options in fashion. Its brands include aLL, Blue Sky, Central, Etam, Fashion Station, Gini Jony, Navaras, Pantaloons, and Top 10. Food: In food business, the group offers a host of options. Food Bazaar a chain of large supermarkets; Brew Bar a beer bar; cafà © Bollywood a national chain of eateries; Chamosa a pan-Indian chain of snack counters, and Sports Bar a bistro focused on the world of sports. Home Electronics: Options include: Collection i a lifestyle furniture store; Electronics Bazaar offers branded electronic goods and appliances; e-zone trendiest electronics items; Furniture Bazaar entire range of Home Furniture; Home Town one stop destination for all the home needs. Leisure Entertainment: Options are: Bowling Co. state-of-the-art premium family entertainment centre, offering multiple, novel and unique leisure and entertainment options; F 123 offers a wide range of gaming options ranging from bowling and pool to redemption and interactive video games to bumper cars. Wellness Beauty: Options are: Health Village a state-of-the art spa and yoga centre; Star Sitara: Beauty salon for men and women; Tulsi provides access to the best allopathic, ayurvedic and homeopathic medicinal products; Turmeric offers beauty products like colour cosmetics, fragrances, herbal and specialty skin items, hair products and bath accessories. Books Music: Future Groups brand Depot offers Books, CDs, and stationery items. The group also operates Indias leading rural retailing chain,  Aadhaar  that is present in over 65 locations in rural India. Aadhaar, an agri-service cum  rural retail initiative, provides a complete solution provider for the Indian farmer.   PANTALOONS FRESH FASHIONS From our beginning in 1987, we have today evolved as one of the leading manufacturer-retailer and are among the pioneers in setting up a nation-wide chain of large format stores in India. We believe that the various initiatives taken by us have played a key role in enhancing the standards of retail in the country. We started our operations by selling branded garments under Pantaloon, Bare and John Miller brands. We set up our first menswear Pantaloon Shoppe Outlet in 1993. Our business has grown from one store in Kolkata in 1997 occupying an area of 8,000 Sq ft to 72 stores, apart from our 22 factory outlets located in the multiple cities occupying an aggregate area of 21,07,608 Sq. ft. We focus on the Lifestyle segment through 14 Pantaloon stores, 3 Central Malls, 2 aLL, 2 Fashion Station and 1 MeLa store. In the Value offering, we cater to the mass through our 21 Big Bazaar and 30 Food Bazaar outlets. Pantaloons believe that managing customer expectation by offering them all the requirements for their entire family under one roof is the key to being a successful retailer, and hence have built our business model around Family focus rather than individual focus. They believe addressing the family attracts more customers into the store. They retail a range of branded and Private Label apparel, footwear, perfumes, cosmetics, jewellery, leather products and accessories, home products, books, music and toys in our stores. To complete the idea of a family store, besides garments, we also retail household items, consumer durables, and home furnishings, apart from food and personal care products. This is complemented by cafes, food stalls, entertainment, personal care and various beauty related services. Promotions and events are an integral part of our service offering to our customer, which helps us create a unique shopping experience. They have also entered into partnerships/joint ventures to expand our offerings from home to apparel to household products to durables etc. They believe their focus on customers supported by systems and processes and a committed work force are the key factors that have contributed to our success and will help us scale up as we embark on our strategic growth plan. Core values followed by Pantaloons, India à ¢Ã¢â€š ¬Ã‚ ¢ Indianness: To boast confidence à ¢Ã¢â€š ¬Ã‚ ¢ Flow: To understand and respect the global nature laws. à ¢Ã¢â€š ¬Ã‚ ¢ Adaptability: To become adaptable and flexible to accomplish the challenges. à ¢Ã¢â€š ¬Ã‚ ¢ Positivity and simplicity, in the business thought and action. à ¢Ã¢â€š ¬Ã‚ ¢ To nurture and maintain long-term relationships. à ¢Ã¢â€š ¬Ã‚ ¢ To be receptive and open to the innovative ideas, information and knowledge. à ¢Ã¢â€š ¬Ã‚ ¢ To value every customer and being modest in the conduct. Major Achievements of Pantaloon Retail Chosen as International Retailer for the Year 2007 Chosen as Emerging Market Retailer of the Year 2007 Best Employers in India (Rank 14th) in the Hewitt Best Employers 2007 survey. Best Managed Company in India (Mid-cap) for the year 2006. Won Images Retail Awards 2006 for Best Value Retail Store, Best Retail Destination, and Best Food Grocery Store. Retail Face of the Year Kishore Biyani Most Admired Food Grocery Retail Visionary of the Year: Kishore Biyani Positioning In the Life-style segment (Pantaloons) the positioning of the store is very different. The store is very open and has a soothing music when the customer enters. The store is very open and spacious; the door of the store is always open which is inviting customers. Since the store is very spacious Pantaloons has segmented its products in a Demographic way and this is the same in all the outlets .The entrance would have the cosmetics jewellery etc then is the ladies section which first has the Indian wear then the western after that its the mens wear and then the sportswear. Pantaloons brands like UMM, DJC are always positioned at the eyelevel. There is a lot of detailing on the presentation of the products which are then displayed on the mannequin. The company would place its beat products on the mannequin. Pantaloon always positions its product at a place where the consumer would see the product once and is easy to locate. Location plays a major role in positioning the product in their store to enhance sale. The company would also position itself according to the needs of the youth because it is the target market and likes things fresh. BUSINESS STRATEGY Promotional Strategy:- Under the market strategy promotional idea is very important. Organization provides some schemes or rebates to retailers or consumers. They make advertisement according to convenient of the people and the feature of the product. So, on the basis of marketing strategy an organization runs in the market. It is several types of which makes helpful to increase sales and turnover of the organization. Pantaloons is the first company to promote their products through movies like Na Tum Jano Na Hum and many others, since the companys focus is youth they tend to promote their products through youth icons like Mahendra Singh Dhoni, Bipasha Basu, they also tend to sponsor events which are watched by the youth like the Pantaloons Femina Miss India which they relate to or is liked by the youth. The company also promotes its products through discounts. For Example-In Pantaloons (life style segment) on a purchase of one t-shirt(UMM) you would have to pay Rs349 and on a purchase of two one would buy it for Rs549.The company keeps yearly or quarterly discounts. Pantaloon majorly promotes its brands through promotions in events which involve youth like Malhaar, Umang and popular college festivals etc. Sectoral Strategies: India has been a country which followed the concept of an organized retail till very recently when the real retail boom happened. The major change was brought in by Pantaloon and Shoppers Stop. Both these companies belonged to a family and the concept of malls started in India and within 5 to 9 years has become a huge sector. Retail contributes 10% to Indias GDP. The retail sector in the country is around $350billionand is expected to grow at a very smooth pace. The organized retail sector is segmented into different types like the hyper market, departmental store, specialty stores ,discount stores and there are other types. PRODUCT CATEGORY Pantaloon sold apparels and accessories categorized under:- Mens formal Mens casual Ladies ethnic Ladies western Childrens wear Pantaloon develops three types of merchandise:- Classic type Fashion type Collection type LOYALTY PROGRAM Green Card Your Green Card is your passport to a whole new world of exclusive benefits and privileges. Instant discount* for every time you shop at Pantaloons Exclusive shopping days to get hold of latest merchandise Regular updates on collections and promos via catalogues, sms and email Special invites to the most happening events Extended exchange periods and complimentary drops for alterations Exclusive billing counters and much more * Categories valid for Green Card Discounts: Apparel, Perfumes Cosmetics, Toys, Bluesky, aLL, Depot, Planet Sports Accessories. MEMBERSHIP When you shop with Green Card, you get rewarded instantly, Online purchases are currently not eligible for Green Card discounts or counted in your purchases. This feature would be available in the near future. 1 Star Members Gift Voucher worth Rs. 200 on enrolment 3 Star Members 5% discount on every purchase 5 Star Members An exclusive 7.5% discount on every purchase 7 Star Members Present your card for the swipe every time you make a purchase at Pantaloons. HOW TO UPGRADE YOUR GREEN CARD Membership 12 month Purchase-based Upgrading System Three Star Card   Upgrade to a 3 star status by shopping for Rs. 8000/- immediately preceding 12 months of current shopping date. Five Star card   Upgrade to a 5 star status by shopping for Rs. 20000/- immediately preceding 12 months of current shopping date. Seven Star   Upgrade to a 7 star status by shopping for Rs. 40000/- immediately preceding 12 months of current shopping date. 12 month Purchase-based Upgrading System   When you shop at Pantaloons and your total purchase (including that day) in the previous 12 months totals to the criteria value of the next tier, you upgrade to the next status. Membership Validity 1 Star card is valid for a period of 2 years from the date of enrolment. 3, 5 and 7 star cards are valid for a period of one year from the date of upgrade. Membership Renewal Purchase worth Rs. 8000 within 2 years of card issue date and retain a 1 star status Purchase worth Rs. 8000 within 1 year of card issue date and retain a 3 star status Purchase worth Rs. 20000 within 1 year of card issue date and retain a 5 star status Purchase worth Rs. 40000 within 1 year of card issue date and retain a 7 star status. SWOT ANALYSIS OF PANTALOONS Strength Pioneer in the industry, largest market share and capitalization.   Reputation for value for money(Competitive pricing), convenience and a wide range of products all in one store   Presence in major cities   Highly Strategic human resource management and development. It invests time and money in training people, and retaining them.   Most trusted and respected brand by the consumers   Being financially strong helps pantaloons retail India deal with any problems, ride any dip in profits and out perform their rivals   Development and Innovation are high at Pantaloons India with regards to it products and consumer preferences and lifestyle changes which keep its ahead of its competitors. Weakness Pantaloons does not function internationally, which has an effect on success, as they do not reach consumers in overseas markets.   PRIL is the Worlds largest grocery retailer and control of its empire, despite its IT advantages, could leave it weak in some areas due to the huge span of control   Since Pantaloons Retail India Ltd sell products across many sectors, it may not have the flexibility of some of its more focused competitors.   Each business line faces competition from specialty companies. Fashion segment, Shoppers Stop, Trent, Lifestyle. In hypermarket-RPG (Spencers),Trent (Star India Bazaar) In Food business, Reliance Fresh, Spinach, Food World Opportunities   Huge untapped market   (The Indian middle class is already 30 Crore is projected to grow to over 60 Crore by 2010 making India one of the largest consumer markets of the world)   Organized retail is only 3% of the total retailing market in India. It is estimated to grow at the rate of 25-30% p.a. and reach INR 1, 00, 000 Crore by 2010.   To take over, merge with, or form strategic alliances with other global retailers, focusing on specific markets   New locations and store types offer PRIL opportunities to exploit market development.(Diversification into insurance , property, and variety of products and stores)   Opportunities exist for PRIL to continue with its current  strategy  of large, super centres.   Rural Retailing Threats   Being number one means that you are the target of competition. (Extra competition and new competitors entering the market could unsteady pantaloons retail India)   A slow economy or financial slowdown could have a major impact on pantaloons retail India business and profits.   Consumer lifestyle changes could lead to less of a demand for pantaloons retail India products/services   Price wars between competitors, price cuts and so on could damage profits for pantaloons retail India.   The actions of a competitor could be a major threat against pantaloons retail India, for instance, if they bring in new technology or increase their workforce to meet demand   Shopping Culture: Shopping culture has not developed in India as yet. Even now malls are just a place to hang around with family and friends and largely confined to window-shopping.   If  unorganized retailers are put together, they are parallel to a large supermarket with  little overheads, high degree of flexibility in merchandise, display, prices and turnover. COMPETITORS In the fashion segment, they face competition from Shoppers Stop, Trent, Westside and Lifestyle. Though the hypermarket is new, only three to four years old, in the country competition is faced from likes RPG (Spencers), Trent (Star India Bazaar) and with Shoppers Stop . In the Food business competition is faced from Subhiksha and Food World. Its major competitors are Westside, Globus, and central. With a sales turnover in 2008-09 FYof Rs. 5048.91 cr, pantaloon has been a clear market leader with the next competitor being Shoppers Stop with a turnover of Rs.1244.79 cr. The numbers suggest that Pantaloon has had no competition at all. Another interesting statistic is about the Pantaloons net profit for FY 2008 in comparison to Shoppers Stop. Pantaloon had a net profit of Rs.125.94 cr, while Shoppers Stop had an loss of Rs.63.72 cr. Clearly Pantaloon remains the market leader as far as retail is  concerned. INTERNATIONAL RETAIL ENTERING INDIA International retailers Indias vast middle class with its expanding purchasing power and its almost untapped retail industry are key attractions for global retail giants wanting to enter newer markets. The Australian governments National Food Industry Strategy and Astride  initiated a test marketing food retail in India wherein 12 major Australian food  producers have tied up with India-based distributor AB Mauri to sell their  products directly at retail outlets. US-based home delivery and logistics company, Specialized Transportation Inc, will enter the Indian market through a strategic alliance with Patel Retail, a subsidiary of Patel Integrated Logistics. Wal-Mart has announced its plans for India in partnership with Bharti, US coffee chain Starbucks is well on its way to set up its first store in India this year. US based Tommy Hilfiger has tied up with Creative Portico, a Mumbai based home textiles company, to sell its home textiles and furnishings in India. Alfred Dunhill, a UK-based luxury mens brand, has tied up with Brand house Retail Ltd. for its India venture and will be opening four stores in the country. THE ROAD AHEAD Pantaloon planed to expand its retail stores to small cities like lucknow, Nagpur etc. By the end of 2005, pantaloon is expected to have 30 food bazaars,22 big bazaars,21 pantaloons 4 centrals. Pantaloon also had planned to venture into footwear, consumer durables, music car accessories retailing. The company also had a forged alliance with a sports retail footwear company called Royal sports house. As a repositioning, Mr. Biyani has planned to give a new makeover to pantaloons. To re-establish and rejuvenate its existing brands, pantaloons intended to spend INR 2 crores additional INR 1 crore on its upcoming brand. The company was planning to reduce the number of vendors for both Pantaloons and Big bazaar. To meet its growing technology meet, they planned to deploy a retail ERP solution, which would support functions such as HR Marketing. Pantaloons planned to launch a B2B portal, to bring transparency in the value chain. CONCLUSION Pantaloon Retail (India) Ltd is a company where it strives for Pantaloon Retail (India) Ltd is a company where it strives for lifestyle and value through its products and services. Through the study, it is observed that pantaloon can be said an organization where the Ps of marketing is taken seriously for the maximum profitability through large range of products, promotional activities for the company and a solid sales organization monitoring that the Ps are worked effectively. The stores has been well maintained in accordance with the latest demands of the maintained in accordance with the latest demands of the consumers and through all these strategies Pantaloon ensures repeated customer patronage.

The Meaning of Life According to Victor E. Frankl Essay -- Philosophy

The Meaning of Life According to Victor E. Frankl The meaning of life, defined by Victor E. Frankl, is the will to find your meaning in life. It is not the meaning of life in general, but rather the specific meaning of a person’s life at a given moment. He believes that if you are approached with the question of â€Å"what is the meaning of my life† or in this case, â€Å"life is meaningless,† then you should reverse the question to that person asking the question. For example: What are you bringing to me? What are you as an individual contributing to this life? This forces the person in question to take a look at themselves and to ultimately be responsible. Frankl says that if you are a responsible member of society than the meaning of life transcends from yourself rather from your own psyche. He also says that if we for some reason cannot find meaning within ourselves it has to be from some outside source. This is referred to as service. And an example of this is love. Victor Frankl describes three ways in whi ch we can discover the meaning of life; Creating work-doing a deed, experiencing something-someone, and by the attitude we take toward unavoidable suffering.   Ã‚  Ã‚  Ã‚  Ã‚  There are several reasons why a person could be feeling that their life is meaningless or has no meaning. According to Victor Frankl these reasons could be existential frustration, existential vacuum, and the meaning of suffering. Frankl breaks down the meaning of existential frustration as so, it can be referred to as existence itself – the specifically mode of being, the meaning of existence, and striving to find concrete meaning in personal existence, which is the will to meaning. Existence itself, in simpler terms is just existing and the human mode itself. The meaning of existence is the question in which we often ask ourselves; Why are we here? When we strive to find concrete meaning in personal existence, we are looking for the personal meaning for existence. Basically what Frankl is saying is that when we are dealing wit the existential frustration we are looking for given meaning that isn’t there. (There is no meaning). On the other hand the re is the existential vacuum, which is when you cannot find meaning in your life. Frankl says that the existential vacuum manifests itself mainly in the state of boredom. It’s when you feel that you have no structure in your life, no one telli... ... both sides if an issue, because there are usually two sides to every story. But by looking at Frankl and examining what he has to say about the meaning of life, suffering, love, frustration, boredom, tension, etc, I have rally gained a lot of knowledge that almost is common sense. If you sit and take the time to read the material through thoroughly you can see exactly where he is coming from. He’ll take a difficult situation, such as suffering, and turn it completely around. As far as suffering goes I try to do the same thing, in a way. When Mark Felice died last October it crushed me. But I tried to look at the positive side and say well, his suffering is over and he was here to teach us how to live to be stronger and better people. Through our suffering, over the loss of his life, we ended his suffering. This is kind of what Frankl does, he turns things around and makes you view things from a different perspective. I like his way of thinking because it’s not alwa ys something that I would think of off the top of my head. Overall, I enjoyed the book although it was difficult at times to read, but I think I gained knowledge from it and see different ways to look at things now.