The Science of Shopping

Caution! An anxietytriggers in your brain signaling the entry of new arrivals in the mall, an outcry for shoppers all around to come to the mall and buy the latest stuff designer/manufacturers have to offer claiming it is only a limited stock variety. The customer scout out the shop which is the most crowded considering it has the best to offer, he/she move in start sweeping by the items, trying to find what reflects your style and communicates your attitude towards the observers. The customers perceive what your fellow shoppers are purchasing or showing interest in and compare their selection with your choice and taste. Thesis statement: The purchasing behavior in the united states in America and the kingdom of Saudi Arabia. The different ways of how they purchase and make their decisions while buying things. What modes they use? Body: The most common trend in the United States is that most of the people go out and window shop. They waste their time doing nothing, just hang out with friends and family and go through most of the shops and end up buying in small quantities. Most of the American society believes in online shopping. Then why do the women in Saudi Arabia have to stay in some constraints while going out for shopping? Thus in the Saudi Arabia the buying behavior of the female gender is totally different when it comes to clothes. They have to stay within the constraints they are living in. According to Norton â€Å"the mall is a favorite subject for the laments of cultural conservatives and others critical of the culture of consumption. † (Norton, 105) However in America there are no such limits. People can buy whatever they want. They have no constraints. Therefore this is the main difference in the buying behavior of both the countries. One can see people of different buying behavior, different race, and different cultures in the shopping malls. Do the people in Saudi Arabia believe in window shopping? Or do they prefer window shopping? For the people of Saudi Arabia window shopping is wastage of time. KSA shopping style is more related to direct item shopping, the customer shops what the customer want and leave, spend time skipping shops, but as soon as the customer get what he wants he leave. Thus in America the uying behavior is rational. The main focus of the American buyer is the features and benefits of the product. Therefore the retailer has to keep in mind different things. As the mall is a public place and people from different parts of the world come there, so it becomes offensive for the public, if the retailer or any customer brings up or says anything which offends any race or culture. According to Norton â€Å"Controversial displays, by stores or customers or the plethora of organizations and agencies that present themselves in the open spaces of the mall, are not permitted. (Norton, 105) Thus they should be careful while putting anything on display keeping in mind that the mall is a public place and there are some limits and boundaries they should keep in mind. Conclusion: The purchasing of behavior totally depends on our culture and belief system. The sellers and retailers display things according to the want and culture of different people. They study their behavior and make alternations accordingly. It is the consumer who tells the seller or retailer how to attract them. The make and provide products for every gender and age of the society. KSA shopping has displays of the most expensive and fancy stuff hanging as a customer grabber. They even put up gold plated items in display to grab the customer by need or greed. USA shopping has displays with new arrivals as well as old running stock, their display of attention gathering is purely based on shoppers intention, whether they want to buy it or not,. The retailer can’t force a customer to shop at your place. This shopping trend shows well known respectable brands have the most sales because of trust.

My Proudest Day of My Life

The Proudest Day of My Life The grey schooldays what I once hated most, are finally over. Do you remember the tons of homework, different and challenging assignment, hard exams? So those are the past now. It was a beautiful summer day, the big day, the day of my graduation. An important event, that many of my friends and I prayed for that we will do well after our examination without worries. The feeling was so special that no words could describe it. But despite of this I really would like to share with you my special day! The loud applause from the students rocked the hall when the school syndicate entered.Everyone was so excited about it. The music was uplifting as the symbols of the school then our teachers and the dean had reached their seats. We rose and sang the National Hymn. After the hymn, the dean opened the graduation ceremonially with his speech. Then some of our teachers and some pupils said â€Å"thank you† and â€Å"good bye† to each other. Although the first speech was quite dry, the others were very interesting. After the speeches students from each class lined up in the auditorium. Many of us waited eagerly for our turn to go the main stage to receive our diplomas from the dean.We were more than two hundred but I was waiting patiently. Of course I was very excited. Soon after that, it was my turn. How can I describe that feeling you have been waiting for so long? As I heard my name, I stood up, walked to the stage and the dean handed my diploma after shaking each other's hands. A second later I heard the applause and the unforgettable moment of feeling proud, that yes, I did it! It was an amazing feeling to stay there in front of everyone, especially in front of your family, your loved ones and see the joy in their eyes.In that seconds and on the way back to my seat I recalled a lot of memories from the last five years. All the positive and negative aspects of being a student came to my mind like the hard exams or the fun time w ith my friends. After the ceremony, in the background, a white projector screen scrolled down then flashed a video on it. It recalled many memories from our first day we had our orientation till the last days. I was astonished to see my face as some pictures of me popped up on the screen. Seeing myself five years younger at the orientation week with a scared face and with a â€Å"what am I doing here† feeling was really funny.I felt a little bit embarrassed, but we laughed a lot with my friends. At the end of the ceremony we sang the school song then we went to the fountain in front of the university and took some pictures with friends and our last group photo. After that we had a short conversation with friends and somehow a sense of nostalgia aroused eventhough we were all happy that we finally graduated. I took a last glance around the main lobby – the place I first entered the university five years ago – before I went back to my family.Along the way back hom e, in the car was the time when I had a weird feeling. It felt as if it was happiness and sadness with many other kinds of feelings. The feeling was stronger when I had reached home. I knew if I told myself I did not miss the school and my friends that would be lye. Perhaps that was the last time we gathered our friends together. However, I am extremely happy that I finished my school and got my master degree, but I also will miss it! I am sure that we would not be able to feel what we once felt together in the classroom during the past five years.

Medtronic External and Internal Analysis Essay

Medtronic Inc. can easily be compared to le Concorde, a turbojet supersonic passenger airliner first flown in 1976. This jet was more than twice as fast as any other airliner ever created, flying at speeds of up to 1,350 mph. The capability to fly at more than twice the speed of a regular airliner equates to twice the flights and premium prices for this astonishing service. The resulting profitability of le Concorde is what puts this machine at the top of its class. In 1957, Medtronic founder Earl Bakken created Medtronic’s Pacemaker, the first wearable device to treat abnormally slow heart rates. The Pacemaker is now the staple product of Medtronic and can be compared to le Concorde for its innovation, efficacy, and profitability. This is just one example of Medtronic’s ability to use its innovation to transform the treatment of chronic disease worldwide. The firm has been a leader in the Medical Device Manufacturing industry for over two decades, developing and manufacturing innovative medical devices to treat more than seven million patients each year. Its products include pacemakers, defibrillators, heart valves, and stents, among others. Medtronic’s drive for excellence is best summed up by its corporate mission, â€Å"To contribute to human welfare by application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health, and extend life† (Medtronic. com). To achieve its goals and maintain success, Medtronic must constantly monitor and evaluate its external environment and the forces in it that could affect the company. The Medical Device Manufacturing industry is exposed to numerous forces and trends that can generate opportunities for firms to exploit as well as threats for firms to avoid. Of note are the effects of rivalry, buyers, regulation, and globalization trends. The Medical Device Manufacturing industry, as a whole, has grown at an annual rate of 18. 9% since 2005, contributing to a high level of industry attractiveness (ibisworld. com). Medtronic is the clear leader with 17. 2% market share. Its closest rivals, Boston Scientific and St. Jude Medical, have market shares of 2. 8% and 4. 8%, respectively (ibisworld. com). Recently, the industry has seen a dramatic increase in consolidation as larger firms have cquired smaller operations in an effort to diversify their portfolios and gain market share. This shrinkage has resulted in greater industry concentration, increasing the rivalry among these key players. Focusing on a more narrow analysis of the Cardiovascular Device segment reveals a similar, more intensified, environment for rivals. Compared to the overall industry, this specific segment has recently witnessed much lower growth rates because the market is saturated with products that have little differentiation and limited innovation possibilities. For this reason, merger & acquisition activity is especially prominent among top firms seeking to create strategic competitiveness. They have identified the threat of rivals and are looking to gain additional resources and capabilities through diversification. The role of buyers is very unique in this industry. While individual patients are the ultimate consumers of medical devices, firms often focus on healthcare providers when selling products. This is because patients in the market have low brand recognition of the devices they use. Instead, they rely on their hospitals and physicians to recommend products for treatment. It is important for manufacturers to understand this distinction since it is these physicians and other providers that have the greatest brand loyalty. That said, individual patients still drive demand for products, and their satisfaction remains the ultimate goal. One key demographic trend of buyers is the aging U. S. population. As life expectancies continue to rise, and the baby boomer generation ages into their late sixties and seventies, this expanding age group will create a great opportunity for medical device manufacturers. For example, elderly patients experience a higher occurrence of health issues compared to the aggregate market, driving demand for medical devices upward. In fact, 40% of all patients diagnosed with heart disease or arthritis are 65 or older (ibisworld. com). The Medical Device Manufacturing industry is also subject to tight regulations, both domestically and internationally. For example, a new device may require a four-year trial before it appears on the market so that the Food and Drug Administration (FDA) can test its long-term effects. Products in Europe, meanwhile, undergo a different regulatory process; products are often introduced in Europe two to four years before they are available for patients in the U. S. Furthermore, compliance with these regulations requires firms to devote significant additional resources, often detracting from investments such as Research and Development. Along with these initial requirements, devices are constantly monitored for defects, which can result in product recalls that damage brand reputation and hurt profits. Globalization trends will certainly continue to have a strong impact on the industry, creating both opportunities and threats. Research shows that exports account for 21. 6% of industry revenue with an expected 2010 growth rate of 3. 9% (ibisworld. com). By developing these export markets, firms can work to maximize capacity utilization as they expand their distribution channels to reach more customers and generate more revenue. This is especially true of developing economies, in which 80% of chronic-disease-related deaths occur. Large portions of these markets are greatly underserved and demand is not being met. In addition, by diversifying into different geographic markets abroad, firms are able to mitigate the risks associated with being too dependent on the domestic market. The emergence of globalization also introduces several threats that firms must be aware of. For one, the competitive landscape changes as companies establish operations sites in foreign countries. When this happens, the demand in export markets declines since customers can purchase devices locally. Exporting firms must then reevaluate their international strategies and consider establishing similar operations of their own. Another threat globalization brings is that of increased competition. Manufacturers constantly fight to expand their geographic reach and to gain control of underserved markets. Given the effects of strong forces and emerging trends in the Medical Device Manufacturing industry, firms should strive to possess a key group of success factors in order to gain strategic competitiveness. The first factor is employees; they must be highly skilled and knowledgeable since the devices they design and produce are very complex. Second, economies of scale allow firms to improve profitability by reducing variable costs in manufacturing, which, in turn, lowers prices for customers. Third, as previously mentioned, the importance of global positioning cannot be understated. In order to compete in the industry, firms must make a global presence, expanding geographic scope and penetrating underserved markets. Finally, access to the latest innovations is imperative. To acquire new technologies, firms must invest considerable resources into Research and Development. Not only must they develop new technologies, but they must also look for ways to continuously improve existing products through high levels of innovation. This understanding of the industry environment is essential when considering a firm’s internal strategies. At the business-level, Medtronic possesses a number of strengths and competencies that are used to create a competitive advantage and contribute to the overall performance of the company. In particular, its research and development efforts along with its superior human resources drive the firm’s differentiation strategy in the Cardiac Rhythm Disease Management (CRDM) unit (see appendix for more strengths). This sector remains the firm’s most profitable product market, accounting for $5. 268 billion of Medtronic’s $15. 817 billion total net sales in 2010 (Medtronic). As a percentage of those sales, Research and Development expenses equated to 9. 23%, a total of $1. 46 billion. Moreover, this expense has seen a Compound Annual Growth Rate of 8. % in the last 5 years, indicating Medtronic’s continued confidence in its ability to create value through the investment in research and development. The innovation fostered by research and development in CRDM has allowed Medtronic to create many new products; the complex nature of these products makes them rare and costly to imitate. They often even trump and replace the existing technology in the mar ket, making them highly valuable and unsubstitutable. These key innovations, therefore, give Medtronic a significant competitive advantage in research and development. For example, the CRDM unit recently introduced a new leadless pacemaker. Once implanted into the heart via catheter, the penny-sized device permanently latches into the flesh with tiny claws. Doctors can then wirelessly monitor and control the pacemaker. Medtronic’s demonstration of reduced size and wire elimination will create a new standard for such devices in the industry, making current, bulky pacemakers obsolete, and giving Medtronic a sustainable competitive advantage. Medtronic’s 40,000 employees also play a key role in the success of CRDM and of the company as a whole. They are the source of one of Medtronic’s most valuable intangible assets: knowledge. With a thorough understanding of human physiology and a breadth of technical skills, employees are a driving force behind the company’s groundbreaking innovations. They generate ideas and implement processes that create new or improved products or therapies. These advancements require that employees are well trained and possess a high degree of knowledge about the products or therapies they develop. In addition to the actual production of products, employees extend their knowledge to customers. By educating healthcare providers and users about the devices, employees ensure that patients safely receive the full benefits of Medtronic’s products. One way Medtronic optimizes its human resources is through collaboration blogs and internal grants. The company’s Quest program awards project grants that encourage employees to test their own ideas for product innovation. Nearly 25% of these projects eventually become a product or some part of a therapy. For example, employee Brain Lee had an idea to create an effective diagnostic tool for patients who suffered from unexplained fainting. With funding from the Quest program, Lee modified a pacemaker by adding self-contained electrodes. The device could be implanted just below the skin, recording electrocardiogram (ECG) signals in an endless loop. Much more effective than existing external tools, Lee’s device received additional funding, leading to successful clinical trials, and, eventually, a commercial release. This is just one example of how Medtronic’s strong workforce creates a core competency for the firm, one that is unmatched by its rivals. Furthermore, the innovations developed by employees and through research and development efforts can often be protected with patents, generating competencies that are not only distinctive, but also sustainable. At the corporate level, Medtronic is very well positioned. The firm outperforms its rivals in terms of market share with 17. 2%, compared to Boston Scientific and St. Jude Medical, which hold 2. 8% and 4. 8% market share, respectively. Since 2007, Medtronic has experienced an 8. 75% compound annual growth rate. While lower than St. Jude’s growth rate of 12. 3% in the period, it is noticeably higher than that of Boston Scientific’s, 6. 84% (See appendix for further financial comparisons). Medtronic’s corporate-level strategy defines which businesses it will be in as well as how it will integrate those businesses to grow and deliver value to stakeholders. The firm currently operates in seven business units: CRDM, Spinal, CardioVascular, Neuromodulation, Diab etes, Surgical Technologies, and Physio-Control, all of which are largely related. Because of Medtronic’s strong war chest, it has been able to focus its growth strategy around acquisitions. Since 2009, the firm has purchased nine companies, including ATS Medical Inc. and CoreValv Inc. , requiring a significant cash investment. In fact, Medtronic spent $370 million when it bought heart valve maker ATS Medical. The firm’s acquisition strategy specifically targets two types of purchases: those that will add immediate revenue to existing businesses, and those that add to Medtronic’s technology portfolio by providing expertise the company does not have. Of late, the firm has been focusing on the former, targeting smaller companies that lack the resources to complete clinical trials and gain FDA approval. Chad Cornell, vice president of corporate development at Medtronic, notes, â€Å"Size is obviously a factor, but it’s not what we start with. † Instead the question is â€Å"how can we add value? That’s the key lens† (Lee). Medtronic’s international strategy is best characterized as a global strategy whereby it develops devices in the United States to be distributed across country markets. To support this strategy, it uses a worldwide product divisional structure. Medtronic has recently changed its strategy, implementing a Global Realignment Initiative in 2008. The goal of the initiative is to reorganize the firm’s resources to focus on areas that add the most value and have the most attractive growth opportunities. Prior to 2008, the company had segmented its global market into the United States market and international markets. Under this new strategy, Medtronic will focus around developed markets and emerging markets, using its resources and capabilities to effectively meet each segment’s unique needs. Developed markets include regions such as the United States and Europe where trained healthcare professionals are familiar with current devices, and new, innovative products are readily accepted. Medtronic relies on its strong innovation capabilities and Research and Development investments to meet the demands of this segment. For example, patients with pacemakers are often denied potentially life-saving MRI scans due to possible pacing interference. Medtronic used its superior innovation and product knowledge to address the concern, manufacturing the world’s first pacemaker that is compatible and safe to use with MRI systems. Introduced in Europe in 2008, this innovative device provides a much-needed solution to millions of people who will now be able to receive the full benefit of a safe MRI scan. Emerging markets, meanwhile, include regions such as China, Brazil, Africa, and the Middle East, where access to care is often limited, and physicians may be unfamiliar with certain medical devices and hesitant to accept new products. In this segment, Medtronic depends on its employees and its reliable, high-quality products. Using these strengths, it focuses on training and educating healthcare providers so that products and treatment are much more accessible to underserved patients. At present, Medtronic operates in more than 120 countries, with more than 16,000 employees in communities outside the United States (Medtronic. om). These employees provide immense value to the company by using their extensive knowledge and skills to educate and collaborate with physicians around the world. Currently, 41% of total revenues are realized outside of the United. Medtronic plans to continue its geographic diversity strategy, aiming to become a â€Å"truly boundaryless organization† an d maintain its commitment to â€Å"making a sustained, global impact in the fight against chronic disease† (Medtronic). In order to keep its world-class status, Medtronic executes various tactics at each of its organizational levels in order to protect its strategic competitiveness. For example, the company uses a frontal assault on its biggest competitor, Boston Scientific. By using revenues created from CRDM, they have the capability to invest large investments into research and development in ways that Boston Scientific cannot. In doing so, they maintain continuous development and improvement of innovative products. Another tactic that Medtronic uses is the pre-emptive strike, identifying and evaluating a valuable opportunity and seizing it before a rival does so. This increases sales, differentiates Medtronic from competitors such as Boston Scientific, and helps foster innovation. Based on the analysis of Medtronic’s external environment and internal strategies, it is clear that the firm is a leader in the Medical Device Manufacturing Industry. However, there are also some key problems and issues the firm should address. Medtronic has had litigation issues over the past few years with recalls in various different product offerings as well as patent and licensing disputes. As noted on the 2010 annual report their litigation charges amounted to nets of, $374 million in 2010, $714 million in 2009, and $366 million in 2008 (36-37). This has been an industry wide issue as seen by Boston Scientifics 2009 litigations charges amounting to $2. 022 billion, $334 million in 2008 and $365 million in 2007 (Boston Scientific Annual Report pg. 69). With these industry wide litigation issues, the FDA is currently creating new standard procedures for testing products and time required to introduce them into the market, which creates a separate challenge in dealing with the new health care reform. In a recent interview with Brian Johnson from Massdevice. om, the CEO of Medtronic, Bill Hawkins outlines the challenges ahead with the new health care reform. â€Å"The new medical device tax will cost us $150 to $200 million per year when introduced in 2013. In 2010 we spent $1. 5 billion on R&D and this tax will directly affect that budget for us which hurts our innovation, or possibly investments in emerging markets†. Cleary the health care reform will be one of the toughest challenges ahead for Medtronic and the rest of the medical device industry.

Small Self-Sustaining Community Term Paper Example | Topics and Well Written Essays - 750 words

Small Self-Sustaining Community - Term Paper Example Certain principles will be put into consideration when setting up a community which is sustainable and self sufficient. All the stakeholders including government, business people, locals and infrastructure should be put into consideration when coming up with the plan for the project. Engagement and collaboration between stakeholders will result into a holistic, long term and long lasting plan. The community must exist for future generations by not exhausting water, air, land and other ecological resources, which support the existence of that community. As a planner I will put into consideration the needs of all the professionals who will move in to work in the community, plus the needs of the locals. This will include daily activities such as going to school, work and accessing recreation facilities. The plan will nourish social integration. Transport and businesses will be put up in close proximity with one another. Transport systems will therefore be crucial to aid movement. There will be rapid rail system in place and scheduled bus services. All this transport systems will run on green energy. Since residents do not have to travel long distances, there will be no need for them to use personal cars, hence saving on fuel and in the end less harm to the environment in form of global warming. Residents will be able to walk and cycle, transport means which saves on energy. Greening of the community will be a priority, therefore green landscapes, balcony and roof top agriculture will be a common practice. Education of the community on environmental preservation will be a enhanced to enable this shift to sustainability. The buildings that will come up will be energy efficient for example correct insulation and solar power installation. Housing will shift from suburbs which lead to deforestation to high density buildings within the town centre to ease movement. Solid waste management will be a priority. The four Rs for example reducing and recycling will be put into consideration, this will minimize on the waste generated and that is released into the environment by the community. Composting of kitchen waste which is biodegradable will be a major way of managing waste; this is a natural process of organic waste decomposition. The end product is then used for growing of organic food instead of using chemical fertilizers which are harmful to the environment. The process of collection, transportation, recycling and disposal of waste will be handled in an ecologically friendly way to minimize pollution. Sewerage is another waste product that should be handled with care. This is because of the risk it poses to the health of the community and ecology if not handled with care. This waste presents an opportunity for treatment of the waste water which will then be used for other purposes for example irrigation in food growing. Employment opportunities will also be created in the process hence improvement in living standards. Care will however be taken to ensure that this water does not get into contact with clean drinking water because it would lead to contamination. Clean energy production and use will be a major component in the design of the city. Going green in terms of energy use is no longer an option., there should be a shift from use of non renewable energy sources to renewable sources of energy, for example hydroelectricity, geothermal energy and tidal energy. Energy to be used in the community wil

Teacher Leadership - Deciion Making Assignment Example | Topics and Well Written Essays - 250 words

Teacher Leadership - Deciion Making - Assignment Example The school culture fundamentally relies on sharing values, beliefs and visions of school which highlight high standard of ethics and moral considerations. They are designed to inculcate sense of responsibility and accountability so that they can grow up into responsible adults. The teachers as leaders share decisions which promote shared goals and higher sense of social responsibility within students. Shared decisions also become strong facilitator for creating effective learning environment for students (Hasham, 2010). When teachers encourage decision making through informed choices, students are motivated to learn more skills and tend to pay more attentive in their classes. In the current environment of rapid globalization and changing social dynamics, understanding cross cultural values become hugely pertinent issues for building constructive social relationship. Indeed, teachers as leaders are in a position to influence students’ outlook towards diversity and encourage positive relationship building amongst students coming from diverse background. School culture that thrives on excellence is intrinsically linked to shared decision making process and collective goals as defined by educational leaders. Various processes and events like celebrations, acknowledgement, sharing of stories of high achievement, ceremonies to award students etc. serve to inspire students for higher academic

Introduction Essay Example | Topics and Well Written Essays - 500 words

Introduction - Essay Example This research is an effort to see how Primark has been able to apply its HR policies towards satisfying its customers and motivating the workforce. The main intention of the study is to develop an understanding of the concepts of Human Resources Management in general and how the established theories and principles are applied to a particular organization. During the study an effort will be made to observe the general working at Primark store in Manchester to seek answers to the following key objectives. Prerequisite to a decent work culture is about respecting individuals and treating everyone, customers and colleagues, with dignity. How Primark has been able to adopt a balancing approach towards motivating the workforce. Undertaking a research implies that one must be aware about the subject, and able to apply the knowledge gained in practical working environment. This research is also being undertaken with the vision that it helps in carving out an effective and efficient HR professional having thorough understanding of the ways employees can be motivated to give optimum performances. To come out with a quality research on the subject and get a feel of the competitive environment in retail industry, get to know about the HR policies of Primark in particular and how its employees feel a

Thailand the Struggle for Success Essay Example | Topics and Well Written Essays - 1250 words

Thailand the Struggle for Success - Essay Example The import substitution policy was then replaced in the mid-1970s with the policies to boost exports. The impact of this shift in policy meant that not only Thailand now had a strong agrarian and industrialized economy but it also diversified in a sense that its economic structure became export-led which had a portfolio as diversified that it included textiles, electronics, chemicals, iron and steel, and minerals. One of the reasons for this diversity in the portfolio was the abundance of labor and natural resources. Thus, Thailand took complete advantage of globalization and its economy reported a growth in its average real GDP of 6.6% from 1960 to 1996 (The Brooker Plc p.8-9). This growth is the average growth rate in these years, there were also years in which Thailand witnessed exponential growth rate in terms of GDP and until 1997, Thailand was all set become the regional hub of the business and commerce activities in the region. Before 1997 Thailand implemented a policy of fixed exchange rate. Its exchange rate was pegged against the dollar. This effectively reduced the transaction costs attached to the inflow and outflow of investments. This obviously resulted in speedy growth as a result of the foreign direct investment. Unfortunately, the lack of foresight and anticipation on the part of Thai government led to the settlement of an economy which was heavily dependent on this direct investment. This policy saw its negative ambiance when in 1997 the investors lost confidence in the recovery of their investments and thus began to keep a check on their investments. The trigger down effect led to heavy speculations against baht and the local investors sold baht and bought more dollars. This caused the capital outflows from the country. But the real impact was felt when the government decided to float the exchange rate.

Accounting Assignment Example | Topics and Well Written Essays - 250 words - 16

Accounting - Assignment Example But now that he has a colleague that is hardworking and willing to go the extra mile to ensure the business is a success, he does not think twice about leaving. Barrow should renegotiate the agreement and make several changes. First of all, the 50-50 term should be changed, such that each person is paid according to the amount of work he has done or total weekly hours that he has worked. Holiday working and extra hours should also be compensated. He should also include in the agreement that each member can get a live periodically as the other member works. If Robbins still wants them to share the income on a 50-50 basis, then Barrow should also inform him that work is also to be shared equally. Barrow should notify him that he has a family too that he would like to spend time with and it would not be fair if he spends all his time and energy in the business while Robbins is busy enjoying himself. If Robbins declines these terms, then it would be plausible if Barrow worked alone as he is getting

Resume Planning Essay Example | Topics and Well Written Essays - 500 words

Resume Planning - Essay Example When these variables are absent or are not given enough attention, no matter how pretty a resume looks like, it will end up in the thrash bin. Substance and not the form will ultimately decide the efficacy of an applicant’s dossier. In line with this, I would like to borrow Linda Ormont’s (2001) criteria of strong resume, one that works and catches attention: However, this is not to say that appearance does not count, because it is also pivotal in achieving a candidate rà ©sumà ©Ã¢â‚¬â„¢s objectives. Its significance lies in the fact that it presents an image to the prospective employer. A carefully laid out resume, for instance, could complement the content to project a competent and professional image. Needless to say, a resume that is sloppy or peppered with typographical errors or badly laid-out, would create for the employer an impression that the job applicant would be careless on the job, too. Appearance also helps in getting the resume noticed. It works best in situations where first impressions count - say, when there is a plethora of other resumes and one needs to stand out. This is also true in the creative industry wherein the visual presentation is everything. Usually, there appears a very thin line between content and appearance as the form becomes the substance in this field. The bottom line here is that content and appearance work hand in hand to communicate the value of the job seeker to a potential employer. Appearance, play the part of positioning and securing the attention of the employer – getting the resume read. The content will nourish the opening and finally detail competencies, enhanced by neat and concise layout. Not all employers, however, follow the same standard in evaluating resumes. There are those who would scan the dossier in five minutes, there are those who would set store on the first impression, and there are those who value informative content. According to Michael Howard, the degree of importance

Ideas Live Forever Essay Example for Free

Ideas Live Forever Essay The film â€Å"V for Vendetta† directed by James McTeigue and the story â€Å"V for Vendetta† written by Alan Moore, is about a shadowy freedom fighter known only as V who, along with his companion Evey Hammond, completes V’s vendetta of blowing up parliament and removing a repressive governments control on the people. In â€Å"V for Vendetta† V fights for an idea. The idea that V fights for compels him to take action and fight against a corrupt government without concern for his own safety. He does this because â€Å"ideas are bulletproof†. He may die and be stopped but the idea which he fought for cannot be silenced. What â€Å"V for Vendetta† has to teach us is that ideas are very powerful and live beyond the death of the one who envisions it. This is shown throughout the film by the use of costume, dialogue, and symbolism. The use of costume in â€Å"V for Vendetta† is clearly illustrated by the mask that V wears. V wears a mask that represents a man named Guy Fawkes. Guy Fawkes is one of several people that attempted to blow up the parliament building in England on November 5th. They were stopped but not before their message was heard. This event later became known as Black Powder Treason. The Guy Fawkes mask allows the people to see him not as an individual but as a metaphorical creature portraying the idea of hope. This is explained at the very start of the movie with this voiceover in the background. â€Å"We are told to remember the idea not the man, because a man can fail, he can be caught, he can be killed and forgotten, but 400 years later an idea can still change the world.† The idea in this quote represents the hope that the people of London seek for freedom, to be free from the government and to live a normal life. This teaches us that no single man would be able to take down the government as represented by â€Å"because a man can fail.† However in the case of V, he did not want to be known as a man, but to be associated to the hope and courage he gave to the people of London. He essentially lives as a messenger, a symbol of hope for the people of London. Apart from Evey, nobody knew him personally but everyone knew what he symbolized and what his motives were and why he was trying to take down the government. Even though V died just before the end of the movie, his idea will live on through the  generations. Even though V wore a mask throughout the entire novel and movie he was able to convey his emotions clearly with the use of his impressive dialogue. Dialogue is important in the film as it is the only way V is able to communicate as we cannot see any of his facial expressions. His wide range of vocabulary and convincing speeches that were broadcasted nationwide win the hearts of the people of London, making them re-think their current situation and how different life would be without the government dictating ev erything they can and cannot do. His quote â€Å"Words will always retain their power†Ã‚  illustrates to us how the media is an influential tool of social and political control. The biased media uses this to their advantage labeling V as a â€Å"psychotic terrorist† when he breaks into BTN (the television network). We can learn from this that some events that are put in the media are not the full truth of what is going on. We believe what the news presenters are saying on the television because they work for the government and the government should only report the real events from true stories. Instead BTN uses this to their advantage and edits news stories to reflect their point of view. The government uses the media to convey the message and to trick the community into thinking that life is so much better with the government in control. However during his speeches V gives the people of London hope and shows them just how much better life would be outside of the government’s control. Through these speeches V shows us how an idea of hope and a better future for everyone rises up against the brute force of the government and is the ultimate turning point in convincing the citizens to support him over the government. Symbolism is illustrated at the end of the film when the people of London remove their Guy Fawkes masks revealing the faces of some of the characters that died throughout the film. This example shows us that even though the characters were killed throughout the course of the film because they believed in V, they had someone to look up to and the characters spirit and their belief lived on. This belief and hope of a better future is all the people of London have to hold on to during the rough times they are being put through by their government. After V is shot multiple times by Creedy’s men he ironically says, â€Å"Beneath this mask there is more than flesh, there is an idea, and ideas are bulletproof.†   As no normal man could survive being shot, this further illustrates how V is more than an idea, he is that little voice in your head telling you what to do,  your conscience per say. This quote means that the flesh of a man can be killed; however an idea can never be killed and removed from society the same way. A famous document can be burned, or a famous structure such as the Old Baily can be destroyed but by no means of destruction can an idea ever burned or destroyed. V lives as a spokesperson, symbolizing and preaching his vision of a better London for everyone to live. Therefore, â€Å"V for Vendetta† teaches us that ideas are very powerful and live beyond the death of the one who envisions it. This is proven by the costume that V wears. The mask he wears makes him more than a man; the mask makes him the embodiment of an idea and hope for the people of London. V’s use of dialogue is also important as it was the only way V was able to communicate as we cannot see any of his facial expressions. Because of this his dialogue and speeches had to convey all of his emotions. Doing so made his speeches more compelling and allowed him to tell the people of London the idea which he embodies. The use of symbolism showed us that V lives not as a character but as an idea of change and hope for the people of London.

A Mechanistic Mode Of Organization Business Essay

A Mechanistic Mode Of Organization Business Essay The structure of any organization has a clear impact on both employee behaviour and its performance Organizational Structure as Determinant of Organizational Performance: Uncovering Essential Facets of Organic and Mechanistic Structure. On the other hand, an organizational structure provides an overview about the hierarchy of levels, roles and responsibilities, authorities, communication channels, etc. Mechanistic organizational structure has a certain amount of bureaucratic features such as being a rigid structure, centralized in decision making, having well defined job roles and well-defined communication channels. These features ensure high efficiency in strict processes and procedures. Furthermore, it reduces flexibility and learning opportunities. The success of the mechanistic structure depends largely upon the external environment and also effectiveness in increasing organizational performance. It is of utmost importance to understand the definition of the organizational structure since it affects both employee behaviour and organizational performance (Organizational Structure as Determinant of Organizational Performance: Uncovering Essential Facets of Organic and Mechanistic Structure). Organizational structure is understood as a method consisting of responsibilities and power allocated amongst members and how work procedures are carried out among them. (Nahm et al., 2003). It also includes the layers of hierarchy, centralization of authority, and horizontal integration. However, an organizational structure is a multi-dimensional construct which illustrates the division of work (roles or responsibilities including specification), departmentalization, centralization, complexity, communication or coordination mechanisms including standardization, formalization and flexibility (How does organizational structure influence performance through learning and innovation in Austria and China). Two main types of organizational structures can be identified as mechanistic and organic. The next paragraph would provide an overview of the mechanistic organizational structure whilst discussing its nature and characteristics. Mechanistic structure is  hierarchical  and bureaucratic by nature. Its structure, processes and roles are considered as a machine where each part of the organization does what it is intended to do. Three main features could be identified. Namely highly centralized  authority, formalized procedures and  practices specialized functions (Businessdictionary.com). Thus, a mechanistic structure has a clear, well-defined, centralized, vertical hierarchy of command, authority, and control. It achieves efficiency and predictability through specialization, standardization, and formalization. Rigidly defined jobs, technologies, and processes are outcomes of such mechanical organizational structure. Mechanistic structure aims to achieve efficiency thorough tight control (Enotes/Studymaster). Characteristics for mechanistic organizational structure are listed below: Stable environment This organizational structure works best when the environment is relatively stable. Low differentiation of tasks Tasks will not be differentiated much, because each subtask is relatively stable and easy to control. Low integration of e.g. departments and functional areas Due to the stability of tasks, there will be low integration between departments and functional areas, because tasks stay relatively stable, and because the functional areas are not heavily dependent on each other. Centralized decision-making When the environment is stable, there is no need for complex decision-making that involves people at lower levels. Therefore, decision-making is centralized at the top of the organization. Standardization and formalization When tasks are stable, tasks should be standardized and formalized, so that operations can run smoothly without breakdowns. Source : http://www.businessmate.org/Article.php?ArtikelId=44 Mechanistic organizations prefer formalized structure due to two main reasons. It reduces the variability within the organization and enhances predictability in the organization rather than being ambiguous (Mintzberg, 1979). A highly formalized mechanistic structure demands nearly all processes and procedures to be administratively authorized. On the other hand, it considers processes and procedures outside to those authorized protocols as variances which should be brought under control meaning that decision making in all dealings should be done by applying such provided procedures, policies, rules or instructions (Enotes/Studymaster). A mechanistic structure enables employee behaviour more predictable while enhancing standardization within the organization. For example, an employee is well aware of handling customer sales returns or accepting credit card payments. Formalization enables organizations to improve performance (Hahn, 2007). In contrast, it also curbs any opportunities for innovation and fresh ideas, since variations are not allowed or encouraged. Consequently, a mechanistic structure does not support or adapt quickly to changes in the external environment. Hence a mechanistic type of organizational structure is best suited for large organizations which operate in more stable environments where it helps to maximize the organizational efficiency while minimizing the cost through formalization and centralized decision making (Carpenter et al, 1969). Classical management theories perceive an organization as a machine (Fayol, 1949; Taylor, 1911). Classical theories emphasis the need for bureaucracy within o rganizations resulting the lack of space towards creativity and innovativeness. Thus, Classical management theories encourage a mechanistic type of an organizational structure (Organizational Structure as Determinant of Organizational Performance: Uncovering Essential Facets of Organic and Mechanistic Structure). However, organizations that operate in a rapidly changing environment requires to frequently change their processes and procedures with the changes that take place in the external environment. Moreover, it requires taking action according to the situation in order to enhance adaptability to environment. Thus, formulation and authority which exist in mechanistic structures does not encourage deviating from defined processes and procedures. Therefore, mechanistic kind of organizational structure is not effective for organizations that operate in a dynamic environment. It can be seen, that mechanistic organizations increase efficiency when tasks and technologies are relatively stable.  Meaning that stable environments and technology allow work to be clearly defined and differentiated. A scientific method should be used to separate work process to identify precise tasks, assign tasks in order to employees and monitor employee performance (Fayol, 1949; Taylor, 1911). Work activity of a mechanistic organization is separated into specific tasks. A specialized job position is created by assigning one or more specific tasks which requires rigidly defined set of skills, methodology and procedure to perform jobs. Furthermore, specific responsibilities or authority is assigned to each job function. Line managers and lower-level staff are to strictly perform assigned tasks according to strict procedures whereas few higher level managers monitor their performance. (Organizational Structure as Determinant of Organizational Performance: Uncovering Essential F acets of Organic and Mechanistic Structure). Managers perform as planners and monitors in a mechanistic type of organization. This leads to high levels of efficiency by clear instructions to perform specific tasks. On the other hand, it provides fewer opportunities for innovation. Thus, innovation is restricted to achieve efficiency in the processes. However, this can be more suitable to improve efficiency in a stable environment rather than depending on innovative ideas. For example, Few customers, for instance, would want a McDonalds employee to use creativity in preparing their hamburger. Instead, the repetitiveness and stability of the procedure needed to cook a hamburger is more efficient when the employee follows established procedures and customers can trust that each hamburger they purchase will taste the same (Enotes/Studymaster). In contrast, a rapidly changing external environment requires innovative ideas to face external environment demand. Furthermore, it requires more flexibility in procedures and processes to meet demands from the external environment. Employees would be given more flexibility to deal with their customers meaning that lower level employees would have a certain amount of liberty to make certain decisions in order to face the situation and solve problems. Thus, the mechanistic structure is less effective for organizations that operate in challenging environments. Centralized decision making in mechanistic type organizations enable few higher management personnel to actively be involved in decision making. Clear communication channels allow formal communication or information flows from top to bottom or vice versa. Classical theorists provides a view point that centralized decision making increases organizational efficiency and definitely results in better organizational performance (Gulick and Urwick, 1937; Weber, 1947). Classical theorists focus was more on hierarchical authority and pays less or no attention to the degree of employee participation in decision making. Employee involvement in decision making is definitely an important aspect of any organizational structure and which directly influence organizational performance (Carter and Cullen, 1984; Khakani et al, 2012). Furthermore, centralized decision-making leads to the effective and efficient functioning of any bureaucratic structures (Goodsell, 1985). Scientific management of organi zations is possible only if decision-making is restricted to few employees (upper level management) within organizations as discussed in the concept of Taylor (1911) (Mansoor, Aslam (2012). However, centralized decision making is more suited for stable and large organizations. Thus, in highly dynamic external environments, organizations require to act fast in order to survive within the in environment in which it operates. Therefore, certain amount of decision making power is required to decentralize and empower lower level employees. This helps them to react to quick changes that occur in the external environment. It is evident that the mechanistic type of structure would not sufficiently support organizations up to expectations when they are engaged within challenging external environments. Therefore, the extent to which formalization exists within an organization depends on the technology, size and the organizations traditions (Robbins 1990, Burton and Obel, 1998 (Mansoor, Aslam (2012). In a mechanistic structure, the clear distance between employees and management provide fewer opportunities to bring in new ideas by subordinates. Moreover, those who bring change can be threaded according to the X theory of Douglas McGregor. Therefore, resistance to change is high and innovation is not so much encouraged in organizations having a mechanistic type of organization hierarchy. (Armstrong, 2008). However, organizations face immense competition in todays challenging and dynamic external environment. Therefore, organizations with mechanistic structure face various difficulties when introducing quick changes due to the highly formalized nature of the hierarchy itself. However, learning is a critical factor that affects organizational development. The below diagram displays steps that are adhered to in single loop learning. Source : http://www.cognitivedesignsolutions.com/KM/Learning.htm Mechanistic type of organizations can use this model to improve efficiency in their processes. The single loop model focuses on analyzing actions and feedback to identify the gap between where we are and where we need to be. Therefore, changes are implemented as actions but not as governing variables (Create advantage). Kolbs (1984) classic interpretation of learning concisely describes the single-loop learning process and is considered a simplified version of the scientific method (Kolb 1984, Armstrong 2008).  Ã‚   As discussed above, learning and implementing change requires flexibility within systems and procedures. The rigid structure in mechanistic organizations does not facilitate comfortable implementation of changes. A well-defined structure demands authorization of all changes and formal communication within organizations. In mechanistic type of structures communicating and formalizing all necessary changes takes a considerable effort and time where dynamic external environment demands quick changes. Therefore, companies face various challenges in adjusting to the external environment. Furthermore, implementation of change requires modifying tasks or roles where employees resist since their knowledge is more specific to a task or set of tasks. On the other hand, change may require training needs and considerable time to adapt which intern has an impact on efficiency of processes. Moreover, the amount of bureaucracy seen in mechanistic structures makes it difficult to introduce change. I n conjunction, it reduces participation opportunities for employees in lower levels when deciding on changes. Clear distance between hierarchical levels of the organization and communication lines reduces awareness about such changes. Therefore, employees fear change and resist to innovation. It is of utmost importance to consider the rate of changes in technology and the external environment while deciding on the amount of formalization and specialization used within the mechanistic structure. Considering all these factors it can be decided that a mechanistic structure provides less space for rapid changes. Therefore, it is more suitable for large organizations operating in comparatively stable environments. Moreover, the type of organizational structure cannot be precisely identified as good or bad since it depends on the firms internal and external environments. An organization structure that suits a specific industry will necessarily be suited for another industry owing to many external factors such as competition and technological impacts. A mechanistic structure by nature is highly formalized and specialized with well defined procedures, processes and roles. Centralized decision making is one of the main features in a mechanistic structure. Higher level managers are involved in decision making whereas their subordinates are expected to carry out specific task or tasks within the department. Therefore, the mechanistic structure provides fewer opportunities for learning. However, the flexibility in the structure is a key to promote learning. Learning and innovation is highly required when dealing with changing and dynamic environments. Mechanistic structure does not provide enough flexibility to change or modify decision making according to situations. Therefore, a mechanistic type of structure is highly efficient for an organization which operates in a more stable environment. These features of mechanistic structures reduce opportunities for learning. Altering the level of mechanistic characteristics will help a firm t o increase learning opportunities to some extent.

Marketing Implementation Plan for New Product

Marketing Implementation Plan for New Product 1. Executive Summary:- With the ever increasing ratio of crime in the UK and all around the world, an unprotected property has become extremely vulnerable, day or night. This is why, in the presence of current environment it is of utmost importance to keep your loved ones safe at home by protecting it with a professional burglar, fire and intruder alarm system. After more than 40 years of success in the current business line, it has been thought that the Weather Seal Holdings (Weather Seal) has now got the right strength to diversify its business. Thereby, I have seen an opportunity to introduce Home Security System as a new product for company to be marketed sold at competitive cost to its existing and new customers through its branch at Romford, Essex (UK). As a result of kind approval by the companys branch regional manager and area managers (project sponsors), I have fascinated an opportunity to develop a project report regarding introduction and marketing plan of this new product for company. Time period allocated/authorized by Weather Seal branch management for the completion of project work is Six Weeks. The final project report will be submitted to the said project sponsors at Romford Branch (UK) for final vetting and valuation. It would then be on the excretion of branch management to send the report to company head office at Ches hire (UK). This project experience could give me a personal learning experience of how to introduce new products to companies. Hoping this project report would gain necessary attention of Weather Seal regarding launch of new product in marketplace and thereby creating cutthroat competition for companies like ADT, Chubb securities etc. The report will be important for the company to launch the fascinating new product among its product range enabling it to not only to diversify its business line but also generate extra revenue in the near future. Findings will be discovered through the data provided by the company, through company risk assessment form to be completed by customers, by acquiring few statements about the company performance from selected customers and assessing home security and crime survey reports being published by the institutions like Home Office (UK), The British Crime Survey etc. These findings will help the company in launching the new product at right levels. The strategic marketing implementation plan will be proposed in order to present important factors of success in future such as marketing budgets, marketing tactics and advertising options. Environmental analysis will be presented in order to critically analyze the marketing aspects by using the tools such as SWOT analysis and Porters Five Forces Model etc., will help in building the marketing strategies and objectives by highlighting the factors such as Marketing Mix(Product, Price, Promotion Place)), Target Audiences and examining all possible strategic options including financial projections. The conclusion and recommendation about the new product will be presented in terms of product usefulness for the customers, profit generations, customer satisfaction and different sort of tactics being recommended to increase sales in future. 2. Introduction To The Business:- Weather Seal Holdings (Weather Seal) has been the Britains largest privately owned manufacturer installer of PVC-u replacement windows, doors, rooflines and conservatoires. The company was founded in 1968 under the prestigious mono of â€Å"The Pride of the Nation†. Since its foundation, huge commercial and public projects has tested companys technology from time to time and more than a million domestic customers are witness to weather Seals craftsmanship. The company continues to grow and in a period of 14 years i-e. From 1995 to 2009, Weather Seal has become a  £75.0 Million company. The company is now renowned as an award winning service provider to its customers. The product qualities are of highest possible standards and second to noe.. The head office of the company is located at the heart of the country on the M6 motorway network at Winsford Cheshire (UK). The company has 21 local branches servicing the UK and 07 Installation Depots all around the country. Weather Seal has got over 1000 trained personnel nationwide and 24 hour customer service response. Local staff includes: Designers Surveyors Fitters Service and Installation Engineers Administrators The company rightly claims that with Weather Seal the customers are dealing with the industry No. 1 as it has achieved every industry standard. Among its competitors like Euro Glazing, Everest Group etc, Weather Seal provides 10 year Platinum Guarantee for all of its products. This is the only guarantee worth having is issued by the company who design, manufacture and install the entire product range themselves. Weather Seal wants to introduce a sophisticated and state of an art Home Security System all around the UK market place. As an Initial phase, company wants to utilize the services of its Romford branch in this regard, which is located in the South region of the company. 2.1 Introduction To The Branch Management:- As project work has been conducted under the supervision and guidance of Romford branch management and that is the premises where the final project report would be submitted. Therefore, it is thought to describe the branch management structure as follows: Owners Mr. Ian Blackhurst and Mr. Brian Kennedy Group Head Marketing Sales Mr. Tony Reilly Director Sales Marketing (South) Mr. Mushtaq Zaman Divisional Manager (South) Mr. Kevin Brookman Romford Branch Regional Manager (South) Mr. Muhammad Ovais Hafeez Romford Branch Area Manager (South) Mr. Mudassar Nawaz Khan 2.2 Aims and Objectives:- Aims:- The aim of this project report is to introduce the desired state of an art Home Security System as a new product to Weather Seal Holdings and also present an appropriate marketing implementation plan. Objectives:- The essential objectives of this report are: Present the complete description of the new product and propose the most appropriate manufacturing partner in order to make the new business a successful operation of revenue generation in future. Identify the target audience assess the customer thinking about the company and new product enabling the company to attain the better customer range for the new product. To present the appropriate marketing strategy by using tools such as environmental analysis, marketing mix and financial projections for the new product. 2.3 Name of the New Product:- The name of the sophisticated home security system (new product) will be PowerMax+ Wireless Alarm Control Home Security System (PAS) 2.4 Product Overview:- The PowerMax+ (PAS) is the latest, advanced and state of an art wireless alarm control home security system that provides protection against burglary, fire and tampering. In addition, it can be used to control lights and electrical appliances within the customer household and/or to monitor the activity of elder or disabled people left at home. Status information is presented visually and verbally, and in most cases a recorded voice prompts customer to take correct action. The PowerMax+ is governed by a control panel designed to collect data from various sensors that are strategically located within and along the perimeter of the protected site. In the disarmed state, the system provides the customer with visual and verbal status information, and initiates an alarm if smoke is detected or upon disturbance in a 24-hour zone (a zone which is active 24-hours a day). In the armed state, the system initiates an alarm upon detection of disturbance in any one of the armed zones. Customer will need a 4-digit security code to master the system, and he/she can authorize 07 other persons to use the system by providing them with their own security codes. Moreover, customer can obtain up to 08 multi-function key-ring transmitters that will allow the customer and other users to control major functions without approaching the control panel. 2.5 Key Product Features:- PAS will offer the customers a personal security guard watching customers family and home 24 hours a day seven days a week 52 weeks a year. The Key features are: Latest technology Invisible two beams, thermal velocimatic system Motion sensor Wireless (no messy installation) Smoke alarm (optional) Flood alarm (optional) Up to 04 members of family / friends as contacts via text, land line or pager Latch key for kids Access remotely (if away from home) via landline or mobile Can connect up to 15 different electrical appliances (computer, lights etc) with additional X-10 units Back up battery if electricity goes down Pet friendly Panic button (elderly) wrist, pocket etc Fire button Save on the insurance policy Secured by design (police approved) Security guard access to premises in case of no contact with alarm Complete peace of mind Leave voice message for the family Codes for false alarm and under duress 2.7 Proposed Partner Company for New Product Business:- Honeywell Security and Communications will be the partner of Weather Seal in the manufacturing of PAS and cater off the customer needs from alarm response centre. This will be the perfect partnership for UK customers security needs. Weather Seal Holdings and Honeywell Security and Communications will jointly deliver a winning combination of expertise in selected home security system, and a proven track record of quality and a firm commitment to their customers. Honeywell Security and Communications is one of the worlds largest manufacturers of security systems, with 30 million security systems installed. Weather Seal is one of the UKs leading home improvement companies with a strong heritage in making peoples homes more stylish, energy efficient and secure. Security focused, the fusion of two well-known names in the UK will eventually give their customers the peace of mind that their home security will be in the safe hands. Why Weather Seal:- With a UK wide sales, installation and service network, customers can be safe in the knowledge that they are putting their trust in a reputable business that is here to stay. The Weather Seal name and brand synonymous with the home improvement market for in excess of 40 years and have worked on more than 200,000 peoples homes. The company started out in the business with a clear focus on providing the products that would make its customers houses warmer, safer, more efficient and a great place to live. The security elements of Weather Seal doors and windows are something that company has always taken really seriously. With this as central to companys approach and off course through continual research and development, Weather Seal products have undoubtedly set new heights in security with style in relevant industry. Why Honeywell:- Part of a global technology and manufacturing leader with revenues in excess of $30 billion, Honeywell Security and Communications has been designing and manufacturing security systems since 1923. With expertise in every area of security, the company provides advanced security solutions for residential and commercial applications. Honeywell works closely with professional security installers and alarm monitoring providers to ensure our products are designed and manufactured with the flexibility to be tailored to each individual customers security needs. Be it private homes or global corporations, around I million customers trust their security to the company each year. Designed for customer convenience, Honeywell intruder alarm systems like PowerMax+ have a wide range of user-friendly features gives the customers peace of mind that their property is secured, with round the clock monitoring in the hands of professionals. 2.8 Importance of the Topic:- This is an interesting project studies as this will offer an opportunity to the renowned company like Weather Seal to introduce a diversified new product in the market place thus enhancing its business line. Companies are becoming more global day by day and to be able to have a critical insight of the marketing strategies and implementation plan of a new Home Security System product of successful UK Company can be an important reference when conducting other marketing activities. This project study will offer an opportunity to Weather Seal to create massive partnership with globally recognized company like Honeywell in order to successfully run its new product in UK market place. As a result of this partnership, Weather Seal could make a global presence with the help of Honeywell and thereby giving more competition threat to its competitors. As a part of research, risk assessment questionnaire has been presented to the customers to be filled out by them in direct interaction with them. The response from customers would enable Weather Seal to better understand the customers security urgency level. The project studies helps researcher in understanding how to introduce new product by making the appropriate marking strategy and provides an opportunity to look into insight of the Weather Seal operational activities. 3. Literature Review:- Most break-ins are opportunistic, not planned and with statistics revealing that burglaries are on the rise day by day not only in the UK but globally, thereby, now is the time for the consumers to take next step in protecting their homes and thus their loved ones too. Summarized important facts that evoked Weather Seal to work on the idea of introducing PowerMax+ Wireless Alarm Control Home Security System as a new business product and researcher to introduce this new product to the company are as follows: Households with no security measures in place are 10 times more likely to be burgled than those with such simple security measures. Results from the British Crime Survey demonstrated that having security measures in place was strongly associated with lower level of victimization. Government officials predict that the economic slow down will lead to â€Å"upward pressure† on levels of property crime. As property crime increases, insurers demand better security to stem losses. 1.7 million burglaries were reported to police in England and Wales during 2007/2008. Home burglaries recorded by the police have risen by 4%, the largest rise in seven years for the period July-September 2008. On the basis of these facts and figures and data already revealed the research has been made via internet to explore the best possible system in order to develop the desired new product for the Weather Seal. As a result of internet research, Stage-Gate System of product development has been shortlisted. STAGE-GATE THE ROADMAP FOR NEW PRODUCT DEVELOPMENT:- The need for lean, rapid and profitable new product development has never been greater. Product life cycles are shorter, competition is more intense and customers are more demanding. Companies that fail to innovate face a grim future. The problem is that winning with new products is not easy. An estimated 46% of the resources that companies devote to the conception, development and launch of new products go to projects that do not succeed they fail in the marketplace or never make it to market. Leading companies have overhauled their product innovation processes, incorporating the critical success factors discovered through best practice research, in the form of a Stage-Gate new product development process. According to several independent research studies (i.e. Product Development Management Association, AMR Research, Booz-Allen Hamilton, etc.) between 70-85% of leading U.S. companies now use Stage-Gate to drive new products to market. A Stage-Gate System is a conceptual and operational road map for moving a new-product project from idea to launch. Stage-Gate divides the effort into distinct stages separated by management decision gates (gatekeeping). Cross-functional teams must successfully complete a prescribed set of related cross-functional activities in each stage prior to obtaining management approval to proceed to the next stage of product development. How Does the Stage-Gate ® Product innovation begins with an idea and ends with the successful launch of a new product. The steps between these points can be viewed as a dynamic process. Stage-Gate divides this process into a series of activities (stages) and decision points (gates). Stages are where the action occurs. The players on the project team undertake key activities to gather information needed to advance the project to the next gate or decision point. Stages are cross-functional (there is no research and development or marketing stage) and each activity is undertaken in parallel to enhance speed to market. To manage risk, the parallel activities in a certain stage must be designed to gather vital information technical, market, financial, operations in order to drive down the technical and business risks. Each stage costs more than the preceding one, resulting in incremental commitments. As uncertainties decrease, expenditures are allowed to rise and risk is managed. In addition to the discover stage, there are five key stages: Stages The structure of each stage is similar: Activities: The work the project leader and the team must undertake based upon their project plan. Integrated analysis: The project leader and teams integrated analysis of the results of all of the functional activities, derived through cross-functional interaction. Deliverables: The presentation of the results of the integrated analysis, which must be completed by the team for submission to the gate. Preceding each stage is a decision point or gate which serves as a Go/Kill and prioritization decision point. Gates are where mediocre projects are culled out and resources are allocated to the best projects. Gates deal with three quality issues: quality of execution; business rationale; and the quality of the action plan. Gates The structure of each gate is similar: Deliverables: Inputs into the gate review what the project leader and team deliver to the meeting. These are defined in advance and are the results of actions from the preceding stage. A standard menu of deliverables is specified for each gate. Criteria: What the project is judged against in order to make the go/kill and prioritization decisions. These criteria are usually organized into a scorecard and include both financial and qualitative criteria. Outputs: Results of the gate review. Gates must have clearly articulated outputs including: a decision (go/kill/hold/recycle) and a path forward (approved project plan, date and deliverables for the next gate agreed upon). What are the benefits of using Stage-Gate ®? The Stage-Gate Product Innovation system has been referred to as the single most important discovery in product innovation empowering almost 85% of all North American companies to achieve improved returns on their product development dollars and to achieve new growth. When implemented properly, Stage-Gate delivers tremendous impact: Accelerates speed-to-market Increases likelihood of product success Introduces discipline into an ordinarily chaotic process Reduces re-work and other forms of waste Improves focus via gates where poor projects are killed Achieves efficient and effective allocation of scarce resources Ensures a complete process no critical steps are omitted The results: A more effective, efficient, faster process that improves the companys (in this case Weather Seal) product innovation results. 4. Cost Incurred on Facilities and Resources Utilized:- Following are some of the items and their approximate costs that were required for the conduction of project work. 5. Sources and Methods:- In order to answer the key aspects of the project studies i.e. how to introduce new product for the company and how to prepare the marketing plan, secondary and primary research will be collected. Both types of research are essential in this project work as they offer crucial results regarding finalization of project report. Furthermore, qualitative data has been collected instead of quantitative data, this is because the available time was not enough to collect and analyze a wide range of data. Secondary Research:- The secondary research consists of â€Å"reanalysing data that have already been collected for some other purpose† (Saunders, Lewis and Thornhill, 2003: 188). In this project studies, we will be interested in information about this national level company overall, the importance and impression of the company in the marketplace and among its customers prior to the launch of new product and off course the utmost important strategic marketing issues affiliated with it. One of the main books used for this is Principles of Marketing (Kotler et al, 2005). These sorts of usage create the part of theoretical frame. The information needed to conduct the project will be collected through the use of external sources of secondary data such as published books and online articles and survey reports. However, the main part of the research focuses on the introduction of new product for the company. In order to collect all the necessary information the researcher will gather internal sources of secondary research. This information includes corporate documentation such as company reports and earlier marketing plans which are available due to solid professional relationship of the researcher with the branch management. The internal sources of secondary research will be backed-up by other external sources such as published general statistics and industry statistics, which have been collected through the use of the internet. Some of the most relevant information collected from online sources regarding UK burglary, fire and child abductions incidents and statistics will be presented in Appendix. This informa tion will be essential to collect and analyzed in order to make the company enable to assess the urgency of new home security system product among the UK citizens. Although secondary research has a number of advantages such as the fact that it is readily available, it saves money and it is not time consuming it also has some disadvantages. In order to use secondary data effectively it is important to make sure that the data is relevant to the specific issue addressed and that it has been classified in a way that is consistent with the study at hand. This consists in making sure that such things as variables and measurements are â€Å"in line† with those used in the investigation. It is also important to make sure the data is accurate and that it comes from the original source and not an intermediate or third-hand report (Ghauri and Gronhaug, 2002). Primary Research:- The secondary research conducted, will be further backed up, by some primary research. This is â€Å"data gathered and assembled specifically for the project at hand† (Zikmund, 1994: 40). 5.2.1 Security Risk Assessment Check Questionaire:- The Weather Seal will create Security risk assessment check questionnaire and researcher will carry the assessment visits with company assessor to observe and record the individual customer needs for statistical purposes. The said questionnaire will be closed end and enable the company and researcher to approve or disapprove the installation of PowerMax+ Wireless Alarm Control Home Security System at the premises. This will also enable the company to estimate the correct number of new product to be remained in stock. The Security risk assessment check questionnaire will be presented in the Appendix. Customer Survey Questionnaire:- As business can only run on the basis of customers. Therefore, it is critically important for Weather Seal to explore the customer views about the company and its new product. A sample close end survey questionnaire will be presented to 50 selected customers along with Security risk assessment check questionnaire to be directly filled by the customers during our visit at their premises. The responses against the survey questionnaire would enable the company to assess the attitude of customers towards the company and its new product. 5.2.3 Interviews:- No specific interviews will be conducted. This is due to the already available massive customer pool of the company all around the UK. However, the researched has suggested the company to publish the comments of few prestigious customers of the company about its performance and customer support and services. These comments will be published in the company new product brochure for the product promotional purposes. Few customer comments will be presented in Appendix. Data Analysis and Interpretations:- After conducting both the primary and secondary in depth researches, it has become possible to present the key findings and data analysis both in terms of figures and percentages. Data Analysis -Secondary Research:- British Crime Figures:- As a result of this type of research, the following key findings have been revealed relating to British crime figures: A home is burgled in UK every 20 seconds. Marketing Implementation Plan for New Product Marketing Implementation Plan for New Product 1. Executive Summary:- With the ever increasing ratio of crime in the UK and all around the world, an unprotected property has become extremely vulnerable, day or night. This is why, in the presence of current environment it is of utmost importance to keep your loved ones safe at home by protecting it with a professional burglar, fire and intruder alarm system. After more than 40 years of success in the current business line, it has been thought that the Weather Seal Holdings (Weather Seal) has now got the right strength to diversify its business. Thereby, I have seen an opportunity to introduce Home Security System as a new product for company to be marketed sold at competitive cost to its existing and new customers through its branch at Romford, Essex (UK). As a result of kind approval by the companys branch regional manager and area managers (project sponsors), I have fascinated an opportunity to develop a project report regarding introduction and marketing plan of this new product for company. Time period allocated/authorized by Weather Seal branch management for the completion of project work is Six Weeks. The final project report will be submitted to the said project sponsors at Romford Branch (UK) for final vetting and valuation. It would then be on the excretion of branch management to send the report to company head office at Ches hire (UK). This project experience could give me a personal learning experience of how to introduce new products to companies. Hoping this project report would gain necessary attention of Weather Seal regarding launch of new product in marketplace and thereby creating cutthroat competition for companies like ADT, Chubb securities etc. The report will be important for the company to launch the fascinating new product among its product range enabling it to not only to diversify its business line but also generate extra revenue in the near future. Findings will be discovered through the data provided by the company, through company risk assessment form to be completed by customers, by acquiring few statements about the company performance from selected customers and assessing home security and crime survey reports being published by the institutions like Home Office (UK), The British Crime Survey etc. These findings will help the company in launching the new product at right levels. The strategic marketing implementation plan will be proposed in order to present important factors of success in future such as marketing budgets, marketing tactics and advertising options. Environmental analysis will be presented in order to critically analyze the marketing aspects by using the tools such as SWOT analysis and Porters Five Forces Model etc., will help in building the marketing strategies and objectives by highlighting the factors such as Marketing Mix(Product, Price, Promotion Place)), Target Audiences and examining all possible strategic options including financial projections. The conclusion and recommendation about the new product will be presented in terms of product usefulness for the customers, profit generations, customer satisfaction and different sort of tactics being recommended to increase sales in future. 2. Introduction To The Business:- Weather Seal Holdings (Weather Seal) has been the Britains largest privately owned manufacturer installer of PVC-u replacement windows, doors, rooflines and conservatoires. The company was founded in 1968 under the prestigious mono of â€Å"The Pride of the Nation†. Since its foundation, huge commercial and public projects has tested companys technology from time to time and more than a million domestic customers are witness to weather Seals craftsmanship. The company continues to grow and in a period of 14 years i-e. From 1995 to 2009, Weather Seal has become a  £75.0 Million company. The company is now renowned as an award winning service provider to its customers. The product qualities are of highest possible standards and second to noe.. The head office of the company is located at the heart of the country on the M6 motorway network at Winsford Cheshire (UK). The company has 21 local branches servicing the UK and 07 Installation Depots all around the country. Weather Seal has got over 1000 trained personnel nationwide and 24 hour customer service response. Local staff includes: Designers Surveyors Fitters Service and Installation Engineers Administrators The company rightly claims that with Weather Seal the customers are dealing with the industry No. 1 as it has achieved every industry standard. Among its competitors like Euro Glazing, Everest Group etc, Weather Seal provides 10 year Platinum Guarantee for all of its products. This is the only guarantee worth having is issued by the company who design, manufacture and install the entire product range themselves. Weather Seal wants to introduce a sophisticated and state of an art Home Security System all around the UK market place. As an Initial phase, company wants to utilize the services of its Romford branch in this regard, which is located in the South region of the company. 2.1 Introduction To The Branch Management:- As project work has been conducted under the supervision and guidance of Romford branch management and that is the premises where the final project report would be submitted. Therefore, it is thought to describe the branch management structure as follows: Owners Mr. Ian Blackhurst and Mr. Brian Kennedy Group Head Marketing Sales Mr. Tony Reilly Director Sales Marketing (South) Mr. Mushtaq Zaman Divisional Manager (South) Mr. Kevin Brookman Romford Branch Regional Manager (South) Mr. Muhammad Ovais Hafeez Romford Branch Area Manager (South) Mr. Mudassar Nawaz Khan 2.2 Aims and Objectives:- Aims:- The aim of this project report is to introduce the desired state of an art Home Security System as a new product to Weather Seal Holdings and also present an appropriate marketing implementation plan. Objectives:- The essential objectives of this report are: Present the complete description of the new product and propose the most appropriate manufacturing partner in order to make the new business a successful operation of revenue generation in future. Identify the target audience assess the customer thinking about the company and new product enabling the company to attain the better customer range for the new product. To present the appropriate marketing strategy by using tools such as environmental analysis, marketing mix and financial projections for the new product. 2.3 Name of the New Product:- The name of the sophisticated home security system (new product) will be PowerMax+ Wireless Alarm Control Home Security System (PAS) 2.4 Product Overview:- The PowerMax+ (PAS) is the latest, advanced and state of an art wireless alarm control home security system that provides protection against burglary, fire and tampering. In addition, it can be used to control lights and electrical appliances within the customer household and/or to monitor the activity of elder or disabled people left at home. Status information is presented visually and verbally, and in most cases a recorded voice prompts customer to take correct action. The PowerMax+ is governed by a control panel designed to collect data from various sensors that are strategically located within and along the perimeter of the protected site. In the disarmed state, the system provides the customer with visual and verbal status information, and initiates an alarm if smoke is detected or upon disturbance in a 24-hour zone (a zone which is active 24-hours a day). In the armed state, the system initiates an alarm upon detection of disturbance in any one of the armed zones. Customer will need a 4-digit security code to master the system, and he/she can authorize 07 other persons to use the system by providing them with their own security codes. Moreover, customer can obtain up to 08 multi-function key-ring transmitters that will allow the customer and other users to control major functions without approaching the control panel. 2.5 Key Product Features:- PAS will offer the customers a personal security guard watching customers family and home 24 hours a day seven days a week 52 weeks a year. The Key features are: Latest technology Invisible two beams, thermal velocimatic system Motion sensor Wireless (no messy installation) Smoke alarm (optional) Flood alarm (optional) Up to 04 members of family / friends as contacts via text, land line or pager Latch key for kids Access remotely (if away from home) via landline or mobile Can connect up to 15 different electrical appliances (computer, lights etc) with additional X-10 units Back up battery if electricity goes down Pet friendly Panic button (elderly) wrist, pocket etc Fire button Save on the insurance policy Secured by design (police approved) Security guard access to premises in case of no contact with alarm Complete peace of mind Leave voice message for the family Codes for false alarm and under duress 2.7 Proposed Partner Company for New Product Business:- Honeywell Security and Communications will be the partner of Weather Seal in the manufacturing of PAS and cater off the customer needs from alarm response centre. This will be the perfect partnership for UK customers security needs. Weather Seal Holdings and Honeywell Security and Communications will jointly deliver a winning combination of expertise in selected home security system, and a proven track record of quality and a firm commitment to their customers. Honeywell Security and Communications is one of the worlds largest manufacturers of security systems, with 30 million security systems installed. Weather Seal is one of the UKs leading home improvement companies with a strong heritage in making peoples homes more stylish, energy efficient and secure. Security focused, the fusion of two well-known names in the UK will eventually give their customers the peace of mind that their home security will be in the safe hands. Why Weather Seal:- With a UK wide sales, installation and service network, customers can be safe in the knowledge that they are putting their trust in a reputable business that is here to stay. The Weather Seal name and brand synonymous with the home improvement market for in excess of 40 years and have worked on more than 200,000 peoples homes. The company started out in the business with a clear focus on providing the products that would make its customers houses warmer, safer, more efficient and a great place to live. The security elements of Weather Seal doors and windows are something that company has always taken really seriously. With this as central to companys approach and off course through continual research and development, Weather Seal products have undoubtedly set new heights in security with style in relevant industry. Why Honeywell:- Part of a global technology and manufacturing leader with revenues in excess of $30 billion, Honeywell Security and Communications has been designing and manufacturing security systems since 1923. With expertise in every area of security, the company provides advanced security solutions for residential and commercial applications. Honeywell works closely with professional security installers and alarm monitoring providers to ensure our products are designed and manufactured with the flexibility to be tailored to each individual customers security needs. Be it private homes or global corporations, around I million customers trust their security to the company each year. Designed for customer convenience, Honeywell intruder alarm systems like PowerMax+ have a wide range of user-friendly features gives the customers peace of mind that their property is secured, with round the clock monitoring in the hands of professionals. 2.8 Importance of the Topic:- This is an interesting project studies as this will offer an opportunity to the renowned company like Weather Seal to introduce a diversified new product in the market place thus enhancing its business line. Companies are becoming more global day by day and to be able to have a critical insight of the marketing strategies and implementation plan of a new Home Security System product of successful UK Company can be an important reference when conducting other marketing activities. This project study will offer an opportunity to Weather Seal to create massive partnership with globally recognized company like Honeywell in order to successfully run its new product in UK market place. As a result of this partnership, Weather Seal could make a global presence with the help of Honeywell and thereby giving more competition threat to its competitors. As a part of research, risk assessment questionnaire has been presented to the customers to be filled out by them in direct interaction with them. The response from customers would enable Weather Seal to better understand the customers security urgency level. The project studies helps researcher in understanding how to introduce new product by making the appropriate marking strategy and provides an opportunity to look into insight of the Weather Seal operational activities. 3. Literature Review:- Most break-ins are opportunistic, not planned and with statistics revealing that burglaries are on the rise day by day not only in the UK but globally, thereby, now is the time for the consumers to take next step in protecting their homes and thus their loved ones too. Summarized important facts that evoked Weather Seal to work on the idea of introducing PowerMax+ Wireless Alarm Control Home Security System as a new business product and researcher to introduce this new product to the company are as follows: Households with no security measures in place are 10 times more likely to be burgled than those with such simple security measures. Results from the British Crime Survey demonstrated that having security measures in place was strongly associated with lower level of victimization. Government officials predict that the economic slow down will lead to â€Å"upward pressure† on levels of property crime. As property crime increases, insurers demand better security to stem losses. 1.7 million burglaries were reported to police in England and Wales during 2007/2008. Home burglaries recorded by the police have risen by 4%, the largest rise in seven years for the period July-September 2008. On the basis of these facts and figures and data already revealed the research has been made via internet to explore the best possible system in order to develop the desired new product for the Weather Seal. As a result of internet research, Stage-Gate System of product development has been shortlisted. STAGE-GATE THE ROADMAP FOR NEW PRODUCT DEVELOPMENT:- The need for lean, rapid and profitable new product development has never been greater. Product life cycles are shorter, competition is more intense and customers are more demanding. Companies that fail to innovate face a grim future. The problem is that winning with new products is not easy. An estimated 46% of the resources that companies devote to the conception, development and launch of new products go to projects that do not succeed they fail in the marketplace or never make it to market. Leading companies have overhauled their product innovation processes, incorporating the critical success factors discovered through best practice research, in the form of a Stage-Gate new product development process. According to several independent research studies (i.e. Product Development Management Association, AMR Research, Booz-Allen Hamilton, etc.) between 70-85% of leading U.S. companies now use Stage-Gate to drive new products to market. A Stage-Gate System is a conceptual and operational road map for moving a new-product project from idea to launch. Stage-Gate divides the effort into distinct stages separated by management decision gates (gatekeeping). Cross-functional teams must successfully complete a prescribed set of related cross-functional activities in each stage prior to obtaining management approval to proceed to the next stage of product development. How Does the Stage-Gate ® Product innovation begins with an idea and ends with the successful launch of a new product. The steps between these points can be viewed as a dynamic process. Stage-Gate divides this process into a series of activities (stages) and decision points (gates). Stages are where the action occurs. The players on the project team undertake key activities to gather information needed to advance the project to the next gate or decision point. Stages are cross-functional (there is no research and development or marketing stage) and each activity is undertaken in parallel to enhance speed to market. To manage risk, the parallel activities in a certain stage must be designed to gather vital information technical, market, financial, operations in order to drive down the technical and business risks. Each stage costs more than the preceding one, resulting in incremental commitments. As uncertainties decrease, expenditures are allowed to rise and risk is managed. In addition to the discover stage, there are five key stages: Stages The structure of each stage is similar: Activities: The work the project leader and the team must undertake based upon their project plan. Integrated analysis: The project leader and teams integrated analysis of the results of all of the functional activities, derived through cross-functional interaction. Deliverables: The presentation of the results of the integrated analysis, which must be completed by the team for submission to the gate. Preceding each stage is a decision point or gate which serves as a Go/Kill and prioritization decision point. Gates are where mediocre projects are culled out and resources are allocated to the best projects. Gates deal with three quality issues: quality of execution; business rationale; and the quality of the action plan. Gates The structure of each gate is similar: Deliverables: Inputs into the gate review what the project leader and team deliver to the meeting. These are defined in advance and are the results of actions from the preceding stage. A standard menu of deliverables is specified for each gate. Criteria: What the project is judged against in order to make the go/kill and prioritization decisions. These criteria are usually organized into a scorecard and include both financial and qualitative criteria. Outputs: Results of the gate review. Gates must have clearly articulated outputs including: a decision (go/kill/hold/recycle) and a path forward (approved project plan, date and deliverables for the next gate agreed upon). What are the benefits of using Stage-Gate ®? The Stage-Gate Product Innovation system has been referred to as the single most important discovery in product innovation empowering almost 85% of all North American companies to achieve improved returns on their product development dollars and to achieve new growth. When implemented properly, Stage-Gate delivers tremendous impact: Accelerates speed-to-market Increases likelihood of product success Introduces discipline into an ordinarily chaotic process Reduces re-work and other forms of waste Improves focus via gates where poor projects are killed Achieves efficient and effective allocation of scarce resources Ensures a complete process no critical steps are omitted The results: A more effective, efficient, faster process that improves the companys (in this case Weather Seal) product innovation results. 4. Cost Incurred on Facilities and Resources Utilized:- Following are some of the items and their approximate costs that were required for the conduction of project work. 5. Sources and Methods:- In order to answer the key aspects of the project studies i.e. how to introduce new product for the company and how to prepare the marketing plan, secondary and primary research will be collected. Both types of research are essential in this project work as they offer crucial results regarding finalization of project report. Furthermore, qualitative data has been collected instead of quantitative data, this is because the available time was not enough to collect and analyze a wide range of data. Secondary Research:- The secondary research consists of â€Å"reanalysing data that have already been collected for some other purpose† (Saunders, Lewis and Thornhill, 2003: 188). In this project studies, we will be interested in information about this national level company overall, the importance and impression of the company in the marketplace and among its customers prior to the launch of new product and off course the utmost important strategic marketing issues affiliated with it. One of the main books used for this is Principles of Marketing (Kotler et al, 2005). These sorts of usage create the part of theoretical frame. The information needed to conduct the project will be collected through the use of external sources of secondary data such as published books and online articles and survey reports. However, the main part of the research focuses on the introduction of new product for the company. In order to collect all the necessary information the researcher will gather internal sources of secondary research. This information includes corporate documentation such as company reports and earlier marketing plans which are available due to solid professional relationship of the researcher with the branch management. The internal sources of secondary research will be backed-up by other external sources such as published general statistics and industry statistics, which have been collected through the use of the internet. Some of the most relevant information collected from online sources regarding UK burglary, fire and child abductions incidents and statistics will be presented in Appendix. This informa tion will be essential to collect and analyzed in order to make the company enable to assess the urgency of new home security system product among the UK citizens. Although secondary research has a number of advantages such as the fact that it is readily available, it saves money and it is not time consuming it also has some disadvantages. In order to use secondary data effectively it is important to make sure that the data is relevant to the specific issue addressed and that it has been classified in a way that is consistent with the study at hand. This consists in making sure that such things as variables and measurements are â€Å"in line† with those used in the investigation. It is also important to make sure the data is accurate and that it comes from the original source and not an intermediate or third-hand report (Ghauri and Gronhaug, 2002). Primary Research:- The secondary research conducted, will be further backed up, by some primary research. This is â€Å"data gathered and assembled specifically for the project at hand† (Zikmund, 1994: 40). 5.2.1 Security Risk Assessment Check Questionaire:- The Weather Seal will create Security risk assessment check questionnaire and researcher will carry the assessment visits with company assessor to observe and record the individual customer needs for statistical purposes. The said questionnaire will be closed end and enable the company and researcher to approve or disapprove the installation of PowerMax+ Wireless Alarm Control Home Security System at the premises. This will also enable the company to estimate the correct number of new product to be remained in stock. The Security risk assessment check questionnaire will be presented in the Appendix. Customer Survey Questionnaire:- As business can only run on the basis of customers. Therefore, it is critically important for Weather Seal to explore the customer views about the company and its new product. A sample close end survey questionnaire will be presented to 50 selected customers along with Security risk assessment check questionnaire to be directly filled by the customers during our visit at their premises. The responses against the survey questionnaire would enable the company to assess the attitude of customers towards the company and its new product. 5.2.3 Interviews:- No specific interviews will be conducted. This is due to the already available massive customer pool of the company all around the UK. However, the researched has suggested the company to publish the comments of few prestigious customers of the company about its performance and customer support and services. These comments will be published in the company new product brochure for the product promotional purposes. Few customer comments will be presented in Appendix. Data Analysis and Interpretations:- After conducting both the primary and secondary in depth researches, it has become possible to present the key findings and data analysis both in terms of figures and percentages. Data Analysis -Secondary Research:- British Crime Figures:- As a result of this type of research, the following key findings have been revealed relating to British crime figures: A home is burgled in UK every 20 seconds.