In this assignment, the core goal will be to perform a critical evaluation of the questions provided so that topics such as pricing, marketing mixes, branding and recruiting will cover the whole of the research paper. In the pricing section, it will be required that the paper defines the terms used within its context as well as perform calculations aimed at finding the exact values needed for a fictitious company to break even. Moving forward, the paper will analyze the different “Ps” of marketing as well as provide elaborate illustrations, which will explain their importance in marketing as a business activity. The subsequent task will involve the provision of illustrations aimed at describing both the advantages and disadvantages of internal and external recruitment processes as a whole. Branding as a major activity in business will form the last section of the research paper so that its importance will be evaluated and analyzed.
Internal recruiting occurs when the hiring company eliminates the excessive financial burden resulting from external recruiting so that it cuts down on advertising costs which form the bulk of the aforementioned financial burden. Secondly, the hiring manager is placed at a fair position to determine suitable candidates within the firm which are eligible for the position. Its disadvantages emanate from the fact that the hiring managers may eliminate the possibility of finding fresh and new talents. They may as well canvass and assign positions on personal reflections at the expense of professionalism. In external recruiting, there is a possibility of finding new talents, and also the process has the lowest chances of canvassing so that eligible applicants rightfully fill the vacant positions. However, it is expensive to conduct, and it is time-consuming as well (Baker and Hart, 2007). As a hiring manager, I will use internal recruiting when I perceive that existing employees are eligible for the positions, and also when the company has to cut costs. I will subsequently use external recruiting when the positions need a fresh and new talent. Formal training provides a platform over which employees make acceptable levels of mistakes before attaining the perfection level. It is crucial for employees to undertake the training since they get to ask questions, so that when they emw needed during work. A hostile work environment refers to a scenario upon which the existing employees are subjected to unplebark on perfrming assignoed tasks perfectly well, formal training empowers them with the technical know-horesults when hiring, promotions or other job benefits are awarded upon sexual harassment.
Employment at will is an arrangemasant working environments so that they are hindered from performing their duties efficiently well. Quid pro quo harassment ent where both employees and employers are placed at a position where they can decide to end their job commitments without any form of liability. Occupational Safety and Health Act (OSHA) provides that employers provide a working environment that is free from hazards and other perils, such as toxic chemicals and unnecessary levels of cold. Collective bargaining refers to negotiations between employers and employees concerning the regulations of the working environment as well as payments. The 4 P’s are: price, which determines discount and allowances to be offered, product, which is determined by brands and the form of quality, promotion dealing with sales promotion, advertising as well as personal selling and place that deals with platform of distribution as well as sales-controlled territories and warehousing facilities. Branding is important since it conveys invaluable information about the product as well as the business as a whole. It is a marketing activity that creates a unique identity for both products and companies. For instance, I purchase “Nescafe”, because its brand eludes the quality within the product itself (Lilien, Kotler& Moorthy, 1992).
The store: “Chenille groceries” allows different forms of products to be displayed and is much concerned with providing the most recent developed products, so that it caters for its middle-average type of consumers. It thus deploys crucial elements of discounts, personal selling and quality to maintain its niche of customers. When opening my supermarket to compete with Chenille groceries, I will perform vigorous advertising aimed at reaching all levels of consumer niche. I will also allow allowances and other beneficial deals altogether. Buzz marketing is a marketing methodology aimed at selecting only the influential clients as target consumers who, in turn, influence their peers towards the purchasing of the product. It attempts to selectively unify consumer marketing encounters. For instance, most restaurants have embarked on using personal web blogs of celebrities in order to reach subsequent market segmentations altogether.
The distribution channels are intensive distribution channels where the firm relies on an extensive intermediary base that will provide its goods or services to the potential consumers, for example, a newspaper. The second distribution is selective in nature in that a company relies on a few intermediary bases to provide sale services of their product, for example, large LG appliances. The third type is exclusive distribution which relies on very few intermediary bases to provide its products, for example, luxury goods from Gucci. I will go with the product: inexpensive clothing for stay-at-home moms and the advertising media is the television. This is because these potential consumers spend most of their time indoors watching this form of media broadcasting, and it will therefore beat logic to use it as the core form of media tool altogether. Variable costs refer to expenses which fluctuate with the resultant changes in business activity. Fixed costs are expenses which remain constant despite the changes in business activity. Break-even point occurs when revenues are equal to the expenses of the given business transaction.