Crash character analysis of Graham quote as relates to Los Angeles Movie Review

A critical response to the Marketing Myopia Assignment

A basic reaction to the Marketing Myopia - Assignment Example Also, the article presents promoting systems that can help business the executives beat rivalry and other outer powers, which compromise a business. In this way, this conversation looks to basically break down the qualities and shortcoming of this article, with a concentration to understanding the credibility of the thoughts it present. The quality of this article is recognizable in tending to the causative elements for business achievement or disappointment. The article explains on the misguided judgment held by numerous individuals that outside powers are the significant reasons for a business disappointment. Be that as it may, as per the article, the explanation for the achievement or disappointment of any business isn't because of natural factors, for example, showcase immersion, undermined development or rivalry. The achievement or disappointment of any business or association is exclusively dictated by the administration (Levitt, 2004). The explanation the disappointment of any business must be ascribed to the administration since; when the matter of an industry decays, it isn't on the grounds that the business was not most appropriate to serve the individuals. The business decays in light of the fact that the administration can't shield its business from their rivals, who in the long run remove their clients from them (Levitt, 2004). In the event that the administration can apply techniques for securing their client base, their business in any industry will keep flourishing. This is one of the qualities of this article, since it accentuates on the job of judicious administration in guaranteeing the accomplishment of a business. Also, the article presents another trustworthy contention that fills in as another of its quality. More extensive center is the way to accomplishment of any business or industry (Levitt, 2004). The article sees that organizations fizzle since they see their venture barely, believing contenders to be just those contribution compara ble items and administrations. This causes the administration of the business to neglect to concentrate all in all industry and how it can influence their business. For instance, individuals working in the railroad business will just center their rivals as those different organizations or people who own trains, overlooking that they are not in the thin railroad business, however working in the vehicle business (Levitt, 2004). In this way, the elaboration given by the article is solid in light of the fact that, in centering barely at the business, the proprietors of a business are just worried about the item or administration they offer, to the detriment of concentrating on the client (Levitt, 2004). Accordingly, for the accomplishment of any business, a more extensive spotlight on client needs is significant than concentrating on the reasonableness of the items and administrations which a business offers. Organizations will succeed more on the off chance that they center around comp rehension and addressing client needs. In this manner, a business should concentrate on the general needs of the client in the business it is working, as opposed to concentrating barely on direct contenders. This is on the grounds that, client needs can be met by the circuitous contenders, who remove the clients served by a business, and address their issues in an alternate way (Levitt, 2004). As per this article, the quality and achievement of any business lies in its inside advancement. On the off chance that a business can tailor its inventiveness towards addressing client needs to the detriment of improving the productivity of its items, the business makes certain to succeed (Levitt, 2004). For instance, a business working in the oil business should concentrate on the requirements of the clients in the entire of the vitality business. This would imply that the business moves in the direction of addressing the necessities of the

Coping With PTSD in Family Members

Coping With PTSD in Family Members PTSD Coping Print Dealing With PTSD in Your Family By Matthew Tull, PhD twitter Matthew Tull, PhD is a professor of psychology at the University of Toledo, specializing in post-traumatic stress disorder. Learn about our editorial policy Matthew Tull, PhD Updated on February 18, 2020 Post-Traumatic Stress Disorder Overview Symptoms & Diagnosis Causes & Risk Factors Treatment Living With In Children Dann Tardif/LWA/Getty Images Coping with post-traumatic stress disorder (PTSD) in family members can be difficult because the effect of PTSD on the family can be great. Studies have shown that families in which a parent has PTSD are characterized by more anxiety, unhappiness, marital problems and behavioral problems among children in the family as compared to families where a parent does not have PTSD.?? This finding is not entirely surprising. PTSD symptoms can cause a person to act in ways that may be hard for family members to understand. Their behavior may appear erratic and strange or be upsetting. The Role of the Family The family can either positively or negatively impact a loved ones PTSD symptoms. The first step in living with and helping a loved one with PTSD is learning about the symptoms of PTSD and understanding how these symptoms may influence behavior. Re-Experiencing Symptoms People with PTSD sometimes relive the traumatic event, also known as re-experiencing symptoms.?? The re-experiencing symptoms of PTSD include:Frequently having upsetting thoughts or memories about a traumatic eventHaving recurrent nightmaresActing or feeling as though the traumatic event is happening again sometimes called a flashbackHaving very strong feelings of distress when reminded of the traumatic eventBeing physically responsive, such as experiencing a surge in your heart rate or sweating, when reminded of the traumatic event Thoughts and memories about a traumatic event can easily be triggered or brought up. Many things can serve as a trigger, such as certain words, sights, sounds or smells. As a result, a person with PTSD may not always appear present in the moment. Frequent thoughts may interfere with concentration or the ability to follow a conversation. In addition, because thoughts and memories about a traumatic event can easily be triggered, a person with PTSD may quickly and easily become upset. To the person without PTSD, these experiences of distress or anxiety may appear to come completely out of the blue. Some people with PTSD may also act as if the traumatic event is occurring again.? They may regard you as a completely different person. When this is happening, the person with PTSD does not necessarily know what they are doing, as they are in a dissociative state, meaning they are not functioning normally. Avoidance Symptoms Another symptom of PTSD is avoidance, which involves avoiding anything that reminds you of the traumatic event.?? Avoidance symptoms  include:Making an effort to avoid thoughts, feelings, or conversations about the traumatic eventMaking an effort to avoid places or people that remind you of the traumatic eventHaving a difficult time remembering important parts of the traumatic eventA loss of interest in important, once positive, activitiesFeeling distant from othersExperiencing difficulties having positive feelings, such as happiness or loveFeeling as though your life may be cut short Even though a person with PTSD may go out of his way to avoid certain people, places, or activities, its not because the person is no longer interested in them, its because these things somehow trigger thoughts and memories about the traumatic event. Family members may also feel as though their loved one with PTSD is emotionally cut-off or distant. This is not a personal choice on the part of the person with PTSD. People with PTSD have been found to experience something called emotional numbing. As the name implies, emotional numbing refers to the inability to have certain emotions. Emotional numbing may interfere with a persons ability to experience or express love and joy.?? Hyperarousal Symptoms Feeling keyed up, or hyperaroused is another PTSD symptom.?? Hyperarousal symptoms  include:Having a difficult time falling or staying asleepFeeling more irritable or having outbursts of angerHaving difficulty concentratingFeeling constantly on guard or like danger is lurking around every cornerBeing jumpy or easily startled If you have PTSD, you may feel as if you, and maybe your family as well, are in danger. You may be in a constant state of readiness. As a result, you may be more edgy or irritable. Some people with PTSD, especially those with PTSD due to combat, may also decide that certain places or situations are unsafe such as subways or busy, crowded places. These places or situations would then be avoided at all costs. What a Family Can Do A family can do a number of things to cope with a loved ones PTSD, including: Understand that behavior does not necessarily equal true feelings. Your loved one may want to go out with friends and family but is too afraid of running into upsetting thoughts and memories. It is important for family members to understand their loved ones symptoms and the impact of those symptoms on behavior.Know the triggers. A family also needs to be aware of their loved ones triggers. For example, if you know that the nightly news on the TV always triggers your loved ones PTSD symptoms, you may want to schedule other activities during that time so there is no way that your loved one will experience that particular trigger.Consider changing routines. Family members may also need to change their routines based on a loved ones symptoms. For example, if your loved one tends to have nightmares, try to figure out a way to wake him up without touching him. Some people with PTSD may respond as though they are being attacked.Get help. Support groups and/or couples counseling may be a goo d way to learn how to communicate with your loved one, as well as cope with PTSD symptoms.?? They may also help you find the best way to encourage your loved one to get help if he or she hasnt already. Family Support Is Crucial The symptoms of PTSD are the bodys attempt to cope with extreme stress. Recovery from PTSD can be a long and difficult road. A familys support and understanding can be invaluable in your loved ones journey to recovery.??

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The Failure Of The Economic Collapse Of Flint, Michigan

As metropolitans continue to grow at exponential rates, the collapse of industrial cities such as Flint, Michigan have been a result of the destructive nature of three economic policy initiatives: The North American Free Trade Agreement, the repeal of the Glass-Steagall Act, and welfare reform. In this paper I will examine the ways in which federal economic policies have served as a catalyst to the economic stress that led one of America’s historical industrial cities to be faced with a contaminated water supply due to a disparity in marginal benefit, private benefit and social cost. In April of 2014 news broke that when Flint, Michigan changed its water source from the treated Detroit Water and Sewerage Department to the Flint River that†¦show more content†¦Following the enactment of NAFTA, Flint would take on another economic burden as a result of the repeal of the Glass-Steagall Act. The Glass-Steagall Act was an act passed by the U.S. Congress in 1933. This piece of legislation functioned as a banking act that prohibited commercial banks from participating in the investment of banking business (source). It also created the Federal Deposit Insurance Corporation (FDIC), the Federal Open Market Committee (FOMC) and Regulation Q, institutions that served the purpose of maintaining the essence of the legislation. Essentially, the Glass-Steagall Act was passed as an emergency measure to counter the effects of the Great Depression by stopping bank runs and to restore confidence in the banking system. In 1999 President Clinton repealed the act in an effort to â€Å"modernize† financial regulation, this deregulated financial derivatives by effectively eliminating financial regulations. The repeal of the Glass-Steagall act was notably one of the most potent factors that almost led America into its second economic collapse. As a result, between 1999 and 2009 unemployment rates had quadrupled from roughly 4% to 17% in Flint, Michigan. In the same turn, President Clinton had not only attempted to modernize financial regulations, but he had also set out to change welfare as we knew it. In doing so, President Clinton decided to replace the Aid to Families with Dependent Children Program (AFDC) with the Temporary Assistance for NeedyShow MoreRelatedGm Bankruptcy11472 Words   |  46 Pageswas founded on Wednesday, September 16, 1908, in Flint, Michigan, as a holding company for Buick after he signed a 15 year contract in Canada with the exchange of 500,000 shares of Buick stock for 500,000 shares of McLaughlin Stock and Dr. Campbell, W Durant’s son in-law put 1,000,000 shares on the stock market in Chicago Buick (then controlled by William C. Durant). Durant s company, the Durant-Dort Carriage Company, had been in business in Flint since 1886, and by 1900, was producing over 100Read MoreGeneral Motors Analysis Essay8283 Words   |  34 PagesGeneral Motors Analysis I. Executive Summary II. Company Overview and History III. Analysis of External Environment a. Analysis of the General Environment b. Analysis of the Competitive Environment i. Dominant Economic Characteristics of the Industry Environment 1. Market size and growth rate 2. Number and sizes of competitors 3. Stage in the industry life cycle ii. Strategic Group Analysis Read MoreStrategic Human Resource Management View.Pdf Uploaded Successfully133347 Words   |  534 PagesRESOURCE MANAGEMENT Section One This section begins with consideration of factors relevant to strategy-based human resource investment decisions. Factors to be discussed include the organization’s managerial values, risk and return trade-offs, the economic rationale for investments in training, the investment analysis approach of utility theory, and outsourcing as an alternative to investments in human resources. Following the discussion of these factors, specific investments in strategy-related trainingRead MoreContemporary Issues in Management Accounting211377 Words   |  846 Pagesilluminate practice and to provide ways of improving it. Although always appealing to his economic understandings, he has been open to a wide variety of other ideas, recognizing their intellectual strengths and capabilities rather than making artificial distinctions between what is acceptable and what is not. He also has contributed widely to the accounting literature, taking forward the British tradition of economic theorizin g in financial accounting as well as being a constant source of creative thinkingRead MoreMarketing Mistakes and Successes175322 Words   |  702 Pageswhich cases would be appropriate for the traditional coverage of topics as organized in typical marketing texts. With most cases it is not possible to truly compartmentalize the mistake or success to merely one topic. The patterns of success or failure tend to be more pervasive. Still, I think you will find the following classification of cases by subject matter to be helpful. I thank those of you who made this and other suggestions. Classification of Cases by Major Marketing Topics Topics Read MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesComplementing Intuition with Systematic Study 11 Disciplines That Contribute to the OB Field 13 Psychology 14 †¢ Social Psychology 14 †¢ Sociology 14 †¢ Anthropology 14 There Are Few Absolutes in OB 14 Challenges and Opportunities for OB 15 Responding to Economic Pressures 15 †¢ Responding to Globalization 16 †¢ Managing Workforce Diversity 18 †¢ Improving Customer Service 18 †¢ Improving People Skills 19 †¢ Stimulating Innovation and Change 20 †¢ Coping with â€Å"Temporariness† 20 †¢ Working in Networked OrganizationsRead MoreMonsanto: Better Living Through Genetic Engineering96204 Words   |  385 Pagesimportant step, because it changes the analysis – for example, your industry analysis will yield different conclusions depending on what industry you determine. STEP 2 GENERAL A N A LY S I S ENVIRONMENT Analyse the six generic elements – economic, sociocultural, global, technological, political/legal and demographic – and work out what the important facts are. There may be many issues and facts in each element, but you put down only the important ones. It is also important to avoid the common

Admission Essay for Johns Hopkins Master in Marketing Free Essays

Everything that a man wishes to happen in life comes at the right time and with a great purpose. As a promising professional in the field of Business, I aspire for higher educational opportunities which will make me more equip in the future. I want to broaden my knowledge and cultivate more of my skills so that I can land to a better and good paying job in the future. We will write a custom essay sample on Admission Essay for Johns Hopkins Master in Marketing or any similar topic only for you Order Now I am confident that the Master’s in marketing degree from Carey School of Business at John Hopkins University will make me another step closer to my dreams. It will enable me to meet all my goals in life and share what I have learned through service to people. My name is Amin Khayat a graduate of University of New Haven, Connecticut in 2004 with a degree in B.S in Marketing and Electronic Commerce. The vast knowledge and experience I gained from both my academic and professional life is not yet sufficient to satisfy my craving for education and success. The nature of my job is really diverse and I was astonished by the fact that there is a program   offered by John Hopkins University that will make my professional life more meaningful and productive. I have learning needs in terms of defining product strategy and road map, gathering and prioritizing product and customer requirement, compiling market data to deliver winning products, setting   product prices, pricing strategy and meeting company revenue and profitability goals. There are also analysis and understanding skills that needs to be developed on my part so that I can battle against market competition in the future and be more available for professional opportunities. A state of the art communication and marketing is greatly needed in the business world. I believe that this is also part of my primary needs which made me more motivated to attend the program at John Hopkins University. I have set career goals both in long term and short term. Securing a med level position with a firm that offers me greener pasture and chances of having more opportunities is part of my short term goal. I believe that the program is designed to make promising students like me to be more equipped in the acquisition, competence and scope of responsibility at any marketing firm. I am determined to find a job at a firm that will guide, advice, inspire and counsel me. After acquiring the right amount of experience, I will pursue my long term goals and that is to establish a firm of my own. Through hard work and dedication, I believe that nothing is impossible for me to do because all the things I will learn from the program will be maximized into full potential. I hope to rise in the corporate hierarchy and attain a level of marketing management that would enable me to use not only my undergraduate and graduate studies, but to make use of my own imagination and my creativity to contribute to the financial success of the firm that employs me. I would find a deep and intense personal and professional satisfaction and gratification from either of these two career paths. The MBA program of John Hopkins Carey School of Business will provide me with the adequate knowledge and skills far better than my previous academic and work experience. It is an advantage on my part to have diverse personality because I can meet different people from all walks of life. My ability to communicate in my first language, Arabic, and my second language, English, becomes evident from global communication. All these can also lead me to greater heights in my future profession. I anticipate my future with success. Through the MBA program I will meet both my needs and goals in life because this university recruits only the best and finest students. It has wide array of academic resources and competent professor who will teach me the expertise in Business marketing. I feel truly blessed to find myself free to pursue my immediate academic goals to reach my fullest potential, without undue concern about financial support.   Your school can help me achieve my goals of competence as a generalist and a specialist in marketing management. How to cite Admission Essay for Johns Hopkins Master in Marketing, Essays

International Marketing Market Entry Plan

Introduction As domestic markets mature and competitive activity intensifies, foreign business expansion is becoming an increasingly important component of most business enterprises across the world (Miller, 1998).Advertising We will write a custom assessment sample on International Marketing: Market Entry Plan specifically for you for only $16.05 $11/page Learn More Future growth in international market activity is apparently expected to accelerate because of unprecedented opportunities that are presented by emerging markets. As observed by Miller (1998), emerging economies usually experience four distinct phases of demand development as shown in figure 1. Figure 1: Phases of Demand Developments in Emerging Economies – adapted from Miller (1998) One of the principal benefits of developing overseas markets is the opportunity to achieve increased sales. Managers around the globe are recognizing the increasing necessity for their companies to devel op the skills, aptitudes and knowledge to compete effectively in international markets. The emergence of a more open world economy, the globalization of consumer tastes and the unabated expansion of Internet access globally, all increase the interdependency and interconnections of national economies across the globe (Rugman Collinson, 2009). There are, however, challenges that are associated with entering a new market in a foreign country.Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Because of geographical distances, and the complexities of operating in a number of disparate markets where risk and uncertainty are high, the need for knowledge and understanding is of paramount importance in international marketing (Doole Lowe, 2008). Table 1 shows the differences between single country operations and international operations. Table 1: Differences between Single Country Operations a nd International Operations Factor Single Country Multinational Operation Language The same language is spoken Being in a different country will require the use of other languages Culture Culture is relatively homogeneous This is diverse between and within countries Labor Skilled and well trained labor is readily available Special training and redesign of production methods might be required Economy The economy is relatively uniform There is a possibility of having wide variations among countries and within countries Politics The political environment will be stable and relatively unimportant The political environment is often volatile and of decisive importance Governmental interference This is stable and reasonably predictable It is often extensive and subject to rapid change Financing There are well developed financial markets and different sources are available In some countries, capital flows are subject to government control and are sometimes poorly developed This paper presents an international marketing strategy to be used by a company to enter a new market in a foreign country. The paper is organized in three major sections: situation analysis, recommended marketing strategies, and economic evaluation. Situation Analysis Before a company can expand its market base to a foreign country, an in-depth preparation is very critical. The marketing department will need to plan the method by which the entry into the new country will be accomplished and how the stated objectives will be realized. Usually, the objectives serve as the driving force for the ambition to move into the new ground (Clemente, 2002). A major responsibility on the part of the marketer is to determine the what, where, when, and how to complete the process. These are briefly explained in the following sub-sections. What Under ideal circumstances, all information could be made available to the market researcher and this can then be quickly sorted into what is relevant fo r the research. The reality, however, is that information is scattered and sometimes hidden and completely unavailable to the market researcher. Access to the information may be restricted by governmental, proprietary, budgetary and temporal constraints. As suggested by Curry (2009), a company should divide its market research into two main sections. There will be cultural information and commercial information.Advertising We will write a custom assessment sample on International Marketing: Market Entry Plan specifically for you for only $16.05 $11/page Learn More Where To be successful, the company should conduct its cultural research inside the target nation. It is not advisable to depend on cultural information. Although reading tour guide books and national histories is useful, this should only be done as preparation for a research trip by the company’s marketing team and not a substitute for the real work that must be done in the target coun try. Commercial research, on the other hand, may be partially conducted in the company’s domestic market in case the target nation has a history of economic openness. Despite the fact that the Internet and governmental databases may serve as good sources of statistical information, surveys and product testing must be conducted within the target market to get first-hand information (Doole Lowe, 2008). When Although global business often moves quickly, research and access to information sources can be time consuming. It is important for a company considering entry to a foreign market to conduct its research as soon as possible within the shortest period considered prudent (Rossi, 2010). If the company takes too long to complete its research, the final report may contain information that is out of date. How The company may choose from a variety of different means available for conducting market research. One option is to gather its own information or use that was provided by go vernment agencies or consulting companies. Face to face surveys among consumers or observing their behavior from a distance is another approach that the company can take in its research. Other available options include the use of raw statistical data to build elaborate mathematical models of how a market will perform, and relying on empirical evidence as well as cultural history. According to Curry (2009), successful international market entries have been launched using all these models from large to small companies ll. Components of the Strategic Marketing Plan There are several different frameworks to think about and use while developing a strategic marketing plan. Some of these are explained in the following sub-sections. Strategy and Culture The company’s culture is â€Å"made up of people, processes, experiences, ideas, and attitudes†. The strategy indicates where â€Å"the company is headed, what path it will take, and how it will get to its destination.† (Kim, Lee Park, 2010). According to Boone and KurtzIt (2011), it is impossible to have strategy without culture and vice versa.Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Internal and External Framework A company will usually have an internal and external framework. The marketing strategy is external to an organization and contains information gathered from customers, competitors, industry, and the operational environment in order to â€Å"identify opportunities and threats. Through employee surveys, board assessments, and financial statements, it is possible to identify the company’s strengths and weaknesses, which are internal† (Raymond, 2003). The Balanced Scorecard Perspectives This is a framework that is applied in order to develop objectives in four main directions. They include financial, customers, internal business processes, and people (Raymond, 2003). While financial, internal business processes, and people are internal the customer is external. Market Focus Growth always comes from the main focus being on customers and thus consequently delivering the best services to them. The market focus framework touches on making sure t hat customers are satisfied. It is very critical to the growth of the organization. Preparing for Market Entry Markets are never completely open or completely closed (Curry, 2009). Every market presents the aspiring entrants with an enormous number of possible doors through which to pass. Some of the doors are unlocked and as clear as glass, while others may be as solid as steel. It is important for the company to understand that ease of entry does not directly imply that the company will realize good profits once it settles in the new country. Oftentimes, governments keep the most lucrative markets well secured mainly to protect its local businesses. Other times, doors are left open and unguarded in an attempt to lure unsuspecting investors or traders to a pitiable and profitless fate. There are also possibilities of lucrative doors suddenly swinging wide open for a moment and then closing. In some instances, a company may only need to have the name of the right person associated w ith them to gain entry into a new country. In all these cases, a company’s ability to properly analyze the information available will determine which door to approach and what product or services to present when the door finally opens. Regardless of the approaches that the company decides to take, devising a blueprint to guide the entire process of entry to a market in a foreign country is critical for success to be realized. Carrying out an exhaustive research in the identified foreign market will enable the company to attain the original goal and avoid numerous distractions sound during the information gathering stage. A detailed marketing plan assures that everything is taken into account before the real investigative work can start. Foundation for the Marketing Plan A marketing plan is the â€Å"formalized roadmap that describes how the company will execute its chosen strategy† (Curry, 2009). The company’s international marketing plan will provide a strong f oundation on which its entry into the new country will be based. It clearly outlines what the company intends to do so as to reach its intended goal. An effective plan will help to focus the energy, resources, and time of everyone in the company towards the same direction. The plan will also make it possible for the company to build a competitive advantage, communicate its strategy to staff, prioritize its financial needs, and â€Å"provide focus and direction to move from plan to action† (Curry, 2009). It is the company’s plan of execution to ensure that everything goes well. Elements of the Strategic Marketing Plan Successful companies develop strategies for marketing their products. The strategic plan guides the marketing department as it makes decisions about the attributes of the product, its distribution, promotional activities and pricing (Pride Ferrell, 2008). A clear understanding of the foundation of marketing is essential in formulating a strategy and in th e development of a specific marketing plan. The key elements of the strategic plan are vision, mission, goals and objectives, strategy, and execution and evaluation. Figure 2 shows some of the elements which are briefly explained in the subsequent sub-sections. Figure 2: Elements of a Strategic Plan – adapted from Pride and Ferrell (2008) Vision Usually, one gets what he or she focuses on. The company must have a vision that will help to bring things to focus. Rather than paying attention to urgent problems, the company should instead focus on vital long term issues. Unless the company can get staff to focus on a common vision, chances are that it will not go anywhere (Monye, 2000). A clear vision will ensure that the energy of all key players is directed towards the common goal of developing the foreign market. It will therefore pay for the company to have a vision that will allow it to marshal the efforts of its team. Mission, Goals, and Objectives The mission statement, g oals, and objectives exist in a strategic plan to empower employees to be more effective. They provide the framework to be used by the company to make independent decisions that will make it possible for the company to be successful in the execution of its marketing plan. The company must have its mission statement, goals, and objectives for the entry into the new country clearly stated and in a way that can be easily articulated by all the concerned parties. Strategy Once the mission, goals, and objectives of the entry into the foreign market are made clear, the company will then proceed to establish how they will be achieved. The strategy will show how the company will achieve what it wants with the resources at its disposal. With a good strategy, the company will be able to out-perform its competition, achieve a sustainable competitive advantage, grow its revenue, maintain or shrink its expenses, satisfy its customers in the new market, and respond to the changing international m arket conditions. Execution and Evaluation All the best missions and strategies in the world are a waste of time if they are not implemented. With a clear marketing plan in place, the company should not hesitate to move into the action stage. The success of the planning process is usually about keeping the plan active. To ensure that the company does not go off target, execution should be subjected to periodic evaluation. Major Planning Pitfalls The company should be aware of the fact that the planning process may yield less than desirable results due to the presence of numerous challenges that may be encountered in the process. First of all, a plan is only as good as the information on which it is built (Moutinho Chien, 2008). The company should avoid depending on untested assumptions which are always risky to follow and lead to erecting the marketing plan on an unsteady foundation. The company should also not ignore any information discovered during the planning process that may require the company to take a different direction. Before embarking on a serious plan to enter the foreign market, it will be helpful for the company to clean up any internal messes which may later interfere with the entire process. It is important for the company to be in good shape before moving forward. Finally, the company should not fall into the trap of copying the best practices of another company involved in a similar business. Even though employing best practices from your industry is important, experiences of other organizations may not be relevant. It is important for the company to find its own path rather following that of others. Tips for Better Planning There are a number of useful tips to ensure that a company succeeds in its supposed entry into the new country. The first thing is for the company to put together a diverse but appropriate group of people to constitute the planning team (McEwan, 2001). A better marketing plan will result from diversity. For effectivene ss, the company should bring together a small core team of leaders and managers who represent every area of the company. Another useful thing to do will be to allow enough time for strategic thinking. It does no help to try and squeeze strategic planning discussions in between putting out fires (Sen Bhattacharaya, 2001). The company should do whatever is necessary to create time for big picture thinking. This may include taking the team off site. It is also important to get full commitment from key people in the organization. If the team does not receive support from key stakeholders, it may result in a disaster eventually. There should be an allowance for open and free discussions regardless of each person’s position within the company. If necessary, the company should hire an outside facilitator. Since good strategic plans are flexible, the company’s marketing plan should not be made rigid or unbending. It must be reviewed periodically to make sure that everything i s on course. Assessing the Company’s Readiness As part of the situation analysis, it will be wise for the company to assess if it is ready to take the challenge of entering a foreign country. Successful planning and implementation will require a keen understanding of how well the company can adapt to fit into the foreign market. Introducing a concept at the right time is critical to guaranteeing a successful implementation. This is the point in the entire planning process where it is important to be brutally honest. Any company that jumps into planning by assuming it is ready is likely to fail somewhere along the way and the whole process can easily get derailed. As part of evaluating itself, the company should look at where it is presently, where it wants to go, and how it will get there. These are briefly explained as follows. Where the Company is currently This can be easily determined by looking at the foundational elements to ensure there has not been a change. It is imp ortant to look at what is happening internally as well as externally to determine how the company needs to shift or change. These foundational elements are the mission statement, values or guiding principles, and Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis. These elements are crucial in assessing the company’s strategic position. While the company can build on its strengths, it can make attempts to minimize weaknesses, capitalize on opportunities, and recognize the threats. Where the Company is heading This helps in imagining how the organization will look like in the future. The elements that help to determine the future of the company include sustainable competitive advantage and vision statement. Sustainable competitive advantage explains what the company is best at compared to its competitors. Vision statement on the other hand helps to formulate a future picture of the company. How the Company will get there This is like the core of the marketing pla n but also the most time consuming. It takes long mainly because there will be a number of routes from the current position to where the company desires to be. Recommended Marketing Strategies One entry mode that may be used by the company is Foreign Direct Investment (FDI). This approach involves the transfer of financial, capital, technology, and other skills that are considered necessary (Moosa, 2002). It gives rise to costs and benefits for the countries involved. Both the investing country and the host country are affected in the process (Agarwal Ramaswamy, 1992). Other useful strategies to use are joint ventures and strategic alliances. The company may enter into joint venture agreements to provide services jointly with companies based in the host country. Strategic alliances will be useful where the company intends to work in the host country through local partners without fully establishing itself in there (Plante Nordhill, 2011). Of the three entry modes discussed above, joint ventures and strategic alliances are cheaper and commonly used by most companies. The company may therefore make use of the two options. Another strategy that may also be used by the company to penetrate the market in the new country is branding (Zou, Kim Cavusgil, 2009). According to Jain and Griffith (2012), developing a global branding strategy is increasingly becoming an important priority for many firms. It will certainly be very useful for the company to brand its products as part of the strategy to enter into the new country (Welch, Benito Petersen, 2007). The impact of global brands has further been enhanced by the movement of people, goods and ideas across national and regional boundaries (Jain Griffith, 2012). Other marketing strategies that will be helpful include segmentation, targeting, differentiation, positioning, and working on having healthy public relations. Segmentation This is the procedure whereby marketers determine how large or how small a group to ap proach with their products is. It is about dividing a mass market into identifiable and distinct groups or segments (Habiyaremye, 2011). Opportunities for segmentation in international marketing may seem endless. The world can be treated as a single marketplace, or it may be seen as composed of billions of single member marketers in the form of individual human beings. The degree of segmentation is determined by the appeal of a product to a general market and by the ease with which that product can be adapted to increasingly specific markets. For this reason, most companies start off with as broad an appeal as possible and then sharpen their focus as more insights are gained. Initially, targeting an entire country can be risky, especially when the geography is expansive and the population diverse. Marketers must determine how consumers in any particular group respond to the marketing mix of the product, its price, promotional efforts, and the means of distribution. Information gathe red during research will be used to make this initial determination, which over time will be increasingly defined. Given that the company may not have all the resources required to meet the demands of all people who may be scattered all over, market segmentation can be used to enable it to use what it has effectively. This will also enable it to ensure that the marketing mix elements namely; product, price, place and promotion are designed to target the selected customers (Habiyaremye, 2011). Market Targeting Market targeting is a company’s decision on which market segments to pursue. It commences once the company segments its market. It is based on the evaluation of the market potential of each individual segment as determined by such factors as market size, growth, competitor activity, and the company’s own resources and corporate objectives. Based on its strength, the company should focus on delivering goods and services to a selected market segment. When this is pr operly done, the company will be more effective in its delivery. Differentiation Differentiation is the conscious effort by a company to distinguish itself from its competition. Even when a segment has been selected, it must be understood that a competitor has already made the same selection or will shortly. This is where differentiation comes into play as a means of reaching the consumer (Lennick Kiel, 2005). Every consumer has a reason for buying a particular product. Starting from the macro-level of marketing, marketers will have only a general understanding of such motivations upon entering a new national market. Time and familiarity will bring about micro-level marketing approaches such as consumer buying patterns. Positioning This is the means by which a marketer establishes the product as a distinct image or brand in the customer’s mind. Simply put, it is the management of perception and it goes beyond the consumers’ general belief about a product. Products are seen as part of a larger category, but a marketer seeks to hold a separate and singular position in the consumer’s mind (Hollensen, 2007). There are six main steps that one can use to prepare a positioning strategy. They include segmenting the market, listing competitors, determining how competitors are positioned, identifying open positions, determining how consumers make decisions, and differentiating a company’s products. Public Relations This is where a company does activities to maintain or improve its image and change the consumers’ attitude towards its products and personnel. Positioning is part of this image maintenance (Czinkota Ronkainen, 2007). Marketers realize that a company’s image can be changed in the consumer’s mind but that too much change or too drastic a change may result in damage. Oftentimes, the image of a company isn’t entirely under its own control. The media can be a very powerful tool both for building an image a nd destroying it. International companies have enormous public relations concerns as they must contend with a wide variety of overseas media cultures as well as with their own domestic news outlets (Lymbersky, 2008). Abroad, virtually everything a foreign company does both prior to and after entering a new country will be scrutinized. Economic Evaluation Economically, it will be necessary for the company to do a thorough evaluation to determine the possibility of carrying on with the plan to move into a foreign market. This evaluation includes undertaking a cost benefit analysis. The company may use the Net Present Value (NPV) technique to determine whether it makes sense to carry on with the project. Other approaches include Return on Investments (ROI) and Internal Rate of Return (IRR). Conclusion From the discussion presented in this paper, it is quite obvious that the process of entering a new market in a foreign country is quite an elaborate one. This paper, however, presents a useful guide that may be used by a company to successfully penetrate a foreign market. If followed properly, it will lead to impressive results in the end. References Agarwal, S. Ramaswamy, S. N. (1992). Choice of Foreign Market Entry Mode: Impact of Ownership, Location and Internationalization Factors. 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