Consumer Brand Relationships Literature review Example | Topics and Well Written Essays - 2000 words

Consumer Brand Relationships - Literature review Example In this framework the definitional association is also pertinent. Linking human personality with brand image is not, though, an easy undertaking. The difficulty that psychologists face in determining and assessing personality equally becomes an issue for people who study the art of brand imaging (Bradley, 2010). It is not unusual, therefore, that those who identify brand image by alluding to human personality do not try to identify the latter concept in any more comprehensive way. They just suggest that goods possess behavioural images, or they centre in on some markedly human factor like age, gender or social caste (Batra, Ahuvia and Bagozzi, 2008). Fig. 2 - The determinants of customer-brand relationships (Martensen and Gronholdt, 2010) Brand Relationships Brand relationship, an alleged interpersonal connection in a branding framework,  assumes that brands and customers are able to have a special connection through a shared communication system. Still, some critics have stated th at a brand relationship cannot really be said to reflect an interpersonal association because of the fact that the key components in interpersonal relationships like interdependence and intimacy are lacking. Even though research has in the past revealed that consciousness actually decides how people perform their daily duties, evidence shows that behaviour can actually be in accordance with the pursuit of individual objectives where cognisance is induced (Carroll and Ahuvia, 2006). However, the function of human consciousness is not always obvious a consumer and brand relationship situation. This suggests that the lack of consciousness can actually stop people from value their  relations in a suitable manner. For example, the related members of a... In the present extremely competitive business field, singular images or one-way messages are no longer relevant in capturing and holding consumer interest. A brand’s value is connected to the relationships it creates and the social connections it inspires among consumers who purchase the service or product. The task of managing such extensive relationships that seem to cover every aspect from the production of a product to its consumption is what most marketers are occupied with. If its creators and marketers have taken care to ensure the existence of such relationships, a brand can actually stop being seen as a mere product to become a platform for the shared experiences of its consumers, thus generating more revenue. Defining a brand’s social nature means considering what consumer’s expectations about a certain brand are and how to encourage the consumers to have even loftier expectations in future. Marketers such as eBay and IKEA, for example, are some of thos e that are at the forefront in intentionally inducing a desire for less acquirement of phenomenal experiences with goods or even the products themselves, for more lasting and consequential varieties of fulfilment.

Summary Essay Example | Topics and Well Written Essays - 1000 words - 5

Summary - Essay Example Even in the early twenty first century there was only a minimal use of the internet and that was usually through advertisements and manipulation of simple search processes. These methods had the advantage of being familiar to everyone, and they could easily be monitored to produce hard facts and figures which allowed companies to measure the effectiveness of their marketing and their ratings with the public. It is widely reported that all of this has changed now that social media have taken over the world. The authors observe that traditional media like television are still popular, but they are being affected by the time that consumers spend on more interactive media such as twitter. The size of the shift towards social media is very large, but even more striking is the speed with which this change has happened. Even within the last two or three years there have been massive changes in the percentage share of traditional and social media when it comes to attracting consumer attentio n. Paradoxically the authors see in these modern trends a return to one of the basic truths about marketing, namely that word of mouth sells products more effectively than big budget advertising. Social media open up a new channel in which old fashioned word of mouth can flourish once more. This is an exciting reality for many companies and it is clear that Name: ID engaging in dialogue with customers online is going to be an essential ingredient in marketing in the future. There are a few words of warning from the two authors, however. The first caveat to mention is the fact that social media cannot achieve all of the same things that traditional marketing campaigns used to do. For a start it is difficult to predict how a conversation with the public will go, because of the interactive nature of the communication. A company can control very tightly all of the images and texts which are published with the company logo in magazines or on television. This is not so in social media, be cause the consumers may react well or badly to a product, and they can turn the tables on a marketing professional by engaging in campaigns of their own. This can work in the company’s favor if the message is positive, but it can cause untold reputational damage if the consumers criticise or ridicule the product. The problem with social media is one of control: a company cannot exercise very much control about what is said about their products. Another point to remember is that social media has not replaced more traditional avenues for marketing. It is an additional channel, and it lends itself to particular segments of the market. The speed of its implementation can also offer companies an opportunity to step in and influence the way that a press story or marketing campaign is going. Some people have argued that it social media are free to use, and that this means a word of mouth campaign can be a cost effective option. In reality, however there are quite significant hidden costs in the operation of marketing activities online, such as the need to have sustained and knowledgeable staff input around the clock. Word of mouth can have an immediate and significant effect on sales. This sounds attractive, but it must be remembered that the sales can go down or up, depending on the kind of messages that are being sent Name: ID across the internet. The authors point out also that there are some

Company Strategies Wm Morrison Supermarket Marketing Essay

Company Strategies Wm Morrison Supermarket Marketing Essay Background of Wm Morrison supermarket PLC Wm Morrison Supermarket Plc is the UK`s 4th biggest retail super market founded in 1899. The company distributes goods, owning and operating around 120 supermarkets and larger superstores. These are mainly based in the north east of the UK, although the company has been expanding into the south. The majority of its supermarkets also have petrol stations on their forecourts, offering discount fuel to customers. In addition, the company offers an in store discount card, Morrison Miles, allowing customers to collect points on their groceries and claim discounts on fuel at these stations. The company has a number of subsidiaries, including Farmers Boy Limited, Holsa Limited, Neerock Limited, W. Todd (Potatoes) Limited, Farock Insurance Company Limited and Wm Morrison Produce Limited. The principal activities of its subsidiaries include the manufacture and distribution of fresh food products, insurance services, polythene bag manufacturing, produce packaging, fresh meat processing and mar ket trading. It displays more than twenty thousand assorted products in its stores, including an extensive own label range. Majority of the brands it sells are its own, amounting to 55%. With the acquisition of Safeway, Morrison is expected to gain around 425 stores throughout the UK. Due to the differing nature of Safeways estate, Morrison will expand its store format to incorporate mid-sized and smaller stores, retaining the Safeway brand for convenience stores. Certain acquired stores will also be selected to gain the Market Street format seen in the Morrison store. The company has an annual turnover of  £14 billion, with more than 10 million customers, 15.6% of the UK grocery market share and 124,000 employees. (DATA MONITOR 2004) Overview of the company`s strategy Wm Morrisons supermarket Plc has three distinct strategies which are: Value- Keeping costs low to ensure the prices are competitive. This is done by offering to all its consumers with an exceptionally best price everywhere they are. Freshness- the company offers more freshly prepared food than any other retailer. This is achieved through vertical integration because it manages nearly every aspect of its business functions internal, involving meat processing, fresh food, fresh fruit, vegetables and transport. The company does all the distribution of its products bought in its stores to customers. Fresh products are delivered into its warehouses under a controlled temperature and plants for packing local and abroad set for forward despatch to their stores nationwide. The company has its own purpose built fresh food plant (factory) called Farmers boy that produces pizzas, cooked meats, pies, packing cheese, sausages and bacon. It also has facilities of processing its meat before sending them to their stores. It manages its own transport fleet. Service- Ensuring the right product is always available, the system of great selling and service for customers` adherence (http://www.morrisons.co.uk). In Michael Porter`s generic strategy terms the company uses a low cost strategy Porter (1980). But in Ansoff product matrix term the company uses penetration strategy, i.e. existing products and markets with an improvement and streamlining of processes in order to compete. In terms of expansion strategy the company uses organic growth in that it sets up factories and farms to produces everything it sells. Assessment of the company current strategy Growth in excess of the market   Measuring of success 2007 2008 2009 Sales growth (exc-fuel) 5.2 4.6 7.9 Market growth rate 4.0 3.5 5.6 Sales growth in excess of the market 1.2 1.1 2.3 This is further represented on the graph below Underlying basic earnings per share (pence) 2009 16.7 2008 14.4 2007 8.3 Total dividend (pence per share) 2009 5.8 2008 4.8 2007 4.0 SWOT Analysis Morrison has benefited substantially from the introduction of the Market Street format to its retail outlets. Its revenues have recorded strong increases for a number of years. However, increased regulation of the grocery market and intensifying competition pose significant future threats. Strengths Substantial northern presence and expansion of manufacturing capabilities Long-standing management team High service standards Weaknesses Dependency on UK Uncertainty over long-term outcome of Merger Lower quality Safeway estate Labour intensive Morrison model Opportunities Diversification Synergies from Safeway merger Convenience store expansion Threats Competitive environment Restaurant expansion Price wars Share price performance MORRISON Share Graph http://www.lse.co.uk/ShareChart.asp?sharechart=MRW 2.0 NATIONALISATION AND GLOBALISATION OF Wm MORRISON SUPERMARKET PLC The decision to nationalise retail supermarket like Wm Morrison supermarket Plc and further to the global markets is very significant since it is a means of expanding the company`s operations, diversify its investments as a source of risk reduction strategy and increase in profitability. However, consideration has to be given with regard to the nature and the type of strategy (ies) to adopt in these environments. It is for instance necessary to consider what type of product (s) to produce and sell, and whether these products will be acceptable in these markets. The company needs to be familiar with the target environments and the countries it wants to enter. The conditions of the market must be assessed to ensure that Wm Morrison can win a share of both national and the foreign markets. Issues such as the economic conditions, political situations, social issues and the levels of technology in these markets will have to be ascertained by the use of PEST (PESTEL) analysis, the competit ive nature of the markets which five forces model analysis can be adopted to assess the levels of competition existed in these markets (Porter 1980), as well as Tariffs, duties and compliance with rules and laws are other vital issues to be considered also. Wm Morrison will have to conduct its own organisational audit with the use of SWOT analysis to assess it strengths, weaknesses, opportunities and threats so that strategies could be developed geared (towards) that. The development of a required organizational processes and allocating of appropriate resources to national and global effort normally requires creating an independent departments (for export) within the organization. Though, this may be expensive when overheads and other liabilities are considered. It may take a considerable number of years to develop a sizeable market share. As a consequence corporation in a form of strategic alliance with other retail supermarkets could reduce dramatically the timing to establish in these foreign markets 3.0 COMPETITIVE ADVANTAGE The concept and interest of competitive advantage started many years ago but never became popular until the 60s of the twentieth century that the concept spread out when Edmund Learned Kenneth Andrews mentioned SWOT analysis denoting strength as a competitive advantage (Schendel, 1994). Competitive advantage as an organizational competence and ability to perform in one or many ways that other competitors find it difficult to imitate now and in the future (Kotler, 1997:53; Kotler, 2000). Nevertheless, for the Wm Morrison supermarket to compete in these target markets, it has to develop a strategy that will be unique and difficult to be imitated by other players in both the national and the global markets. Porter (1985) recognized competitive advantage as a strategic goal; that is a dependent variable and the rationale behind this is that the good performance is related to achieving a competitive advantage (Read Difillipi, 1990:90). Others see competitive advantage as an ability to produce products or offer services different to what competitors do, by utilizing the strengths that organizations possess so as to add value in a way that competitors find it difficult to imitate (Pitts Lei, 1968:68). It can be assumed that competitive advantage is a relative quality that organizations claim to possess through which they can exceed their rivals performance, and achieve long lasting benefits as perceived by clients. It is believed that the framework presented by Michael Porter is one of the most well-known tools that are used in theoretical as well as empirical research, since it pays an emphasis on all the activities carried out by an organization with respect to its external environment. Competitive business strategy Competition in Global environment which was written and later on edited by Michael Porter Porter (1986) is a means to study and an attempt to systematizing global business development. Porter analyzes a firm`s global strategic options by concentrating on two concepts: allocation and coordination. By allocation he meant globally distributing and allocation of the value chain activities. On the other coordination refers to the coordination amongst the distributed bases. He explained global strategy as a strategy to achieve a global competitive advantage through concentrated allocation or coordination of distributed activities, or both (Porter 1986, p. 35) and indicated that for proper understand of competitive advantage concept of a global strategy or the cause of globalization of a firm, Mw Morrison should identify the circumstances for achieving cost diminution or differentiation by globally focusing on the operations or coordinating the distributed activities. He emphasised that such situations are: (1) immediacy to markets; (2) economies of scale and experience effect; (3) effective consolidation and coordination of activities; and (4) comparative advantage of each country. Global competitive strategy gives a company with the ideas to generate an offensive and / or defensive position in the global markets whereby yielding greater returns on its investments. According to Porter a company must adopt a competitive strategy to win advantage competitively over its rivalries. Competitive advantage is something that gives a business an edge over its competitors in the products/ services it provides (offers). Companies have unearthed different approaches to this end, and the most significance of the strategy for a particular company is eventually a unique design reflecting its special situation. Competitive National business strategy Ansoff matrix for strategy New Market 2. Market Development 4. Market Diversification Current Market 1. Market Penetration 3. Product Development Current Product New Product Ansoffs Marketing Model Adopted from Ansoff (1957) According to Ansoff (1957), Wm Morrison supermarket may decide choosing one of the four product-market growth strategies which are shown on the diagram above. They consist of market penetration, market development, product development (diversi ¬Ã‚ cation). But Ansoff however suggests that the safest of these growth strategic options is to adopt a market penetration strategy. With this strategy Wm Morrison could gain more usage from its existing consumers and moreover seeks to attract new ones in their existing market. On the other hand, Ansoff indicated that the slightly riskier option will be to take the market-development strategy of attracting new kinds of consumers for the present produce of the business from either new channels of distribution, or new geographic areas. Wm Morrison as an alternate may a strategy of product development, by developing completely new products, diverse versions of existing products or quality at different levels of current products to be sold in its existing markets. The final strategic option in Ansoff terms Wm Morrison can pursue and is also the riskiest strategy overall is the strategy of diversi ¬Ã‚ cation. With this Wm Morrison supermarket will have to develop completely new produce for new markets. This is very costly because the company has to abandon what it is producing and selling presently. In the writings of Hangstefer (1999) in order for Wm Morrison to build growth drive, its managers should persuade innovation in their core strategy. And this should focus on factors such as the re-de ¬Ã‚ ning of markets or the development of products and services. Even though Hangstefer`s view is partially consistent with that of Ansoff. According to Hangstefer Wm Morrison should embark on the most basic product-market growth options; by indicating that a more innovative approach would be for the business to employ a growth strategy involving a number of combinations of variables. Hangstefer cited Manchester United PLC as an example, which is the holding company of the Manchester United Football Club. It has pursued growth opportunities related to their core business, as well as through new businesses, for instance Manchester United Merchandising and Manchester United Catering. Boston consulting group (BCG ) growth share matrix The BCG matrix is a technique use for growth, particularly for multi-divisional or multiproduct companies such as Wm Morrison supermarket. The organisations divisions and or products compromise the firm`s business portfolio. The portfolio`s composition can be crucial to the development and achievement of the firm. The matrix looks at two variables, which are: market growth rate and relative market share. The Matrix evaluates a firms position regarding its products range. This will help Wm Morrison to consider its products and/ or services in order to make decisions concerning products and services that need to be kept or removed and additional investments it has to make in furtherance to participating fully nationally. Shown on the horizontal (y) axis is the market growth rate while on the vertical (x) axis is the Relative market share (Henderson, 1979). The BC Groups Growth Strategic matrix Stars Disaster sequence Cash consumer Cash neutral Success sequence Invest Problem Children (Question marks) Large negative cash flow ?Analyse Cash Cows Large positive cash flow Milk Dogs Cash consumer Modest cash flow Divest Relative Market Share Adapted from Hedley (1977), p12 Wm Morrison may have to classify its products range according to the quadrant in order to decide the way forward. Question Marks (High growth/ Low relative market share) These are Wm Morrison produce which grow quickly and as a consequence lead to high cash consumption, however they dont generate enough cash since they have little market shares. The effect is huge net cash spending. A question mark may have the possibility to grow in market share and turn into a star, and finally a cash cow as soon as the market growth slows. It may turn out to be a dog when the market growth declines, if it doesnt develop to be a market leader. The company may need to analyse cautiously to decide if they merit the investments it requires to growing market share. These are the strategies to adopt for question marks: Market penetration Market development Product development These are all extensive strategies /or divestment STARS These will be Wm Morrison products that are seen as market leaders in high growth industries. However, it will have to spend to sustain development and to protect the leadership situation. Stars are normally only slightly lucrative but as they attain older position in their life cycle and development slows, proceeds grow to be more attractive. The stars offer the foundation for lasting growth and productivity. The strategic options for stars may involve integration, forward, backward and horizontal, Product development, Joint venture, Market penetration and Market development. Cash Cows (Relatively high market share/ but Low growth rate) Cash Cows are the more lucrative produce in the portfolio that must be milked. The condition is often been boosted by economies of scale which could be there with market leaders. Cash Cows might be used to finance the operations in the other 3 quadrants. It is enviable to sustain the strong stands as much as practically. Product development concentric, diversification if the position weakens as a result of loss of market share or market contraction then options would comprise reduction of expenditure (or even divestment) Dogs Dogs comprise a low market share and a low growth rate and neither provides nor consumes a huge sum of cash. Dogs are however, cash traps since the cash locked up in the business that has little potential. Such products are candidates for divestiture. Options are: Reduction of expenditure (if it is thought that it could be revitalised) Liquidation Divestment (if someone can buy) It should however be noted that productive products could well go from question mark through to star, to Cash Cow and at last to Dog. Fewer flourishing products which never gain market position may move directly from question mark to Dog (Hofer Schendel, 1978) Competitive Global business strategy Wm Morrison supermarket can enter into the global markets by adopting Porter`s generic strategy which he indicated that a firm may decide to pursue either low cost strategy or differentiation strategy. Porter indicated that companies cannot pursue the two strategies at the same time but rather one at a time. Cost Leadership Strategy focuses on attaining low costs relative to its rivals. Reducing costs result to lowering prices, that can raise demand for products and /or services, but if the product or services cannot be produced at a lower cost then it will rather reduce profit margins. For Wm Morrison supermarket to compete on cost bases then it must address issues about overheads, materials, labour, and other costs, and to design a system that lowers the cost per unit of its product or service before entering the global markets. Often, the lowering of costs requires extra investments in automated facilities, equipments and employees skill. On the contrary, Differentiation Strategy concentrates on creating exceptionality products such that the firms products and services are obviously distinguished from that of its competitors. In other words, the focus is on creativity and innovation that have long been recognized as crucial for bringing the needed change to obtain the competitive advantage (Dean, 1998). The Porter`s competitive advantage has given rise to Schuler and Jackson (1987) come out with three competitive advantage strategies that Wm Morrison can adopt to achieve competitive advantage by embarking on Quality enhancement, Cost reduction and innovation. Apart from Porter`s pronouncement of how to enter global markets, there are other means by which Mw Morrison can enter global market for instance, green field, acquisitions, joint ventures, franchising, licensing, etc. When establishing acquisitions, joint ventures, franchising, licensing, etc. it is very important to locate a reliable partner. Any of these strategies may require a due diligence exercise in the global markets in order to perform checks and balances to ascertain how satisfactory the foreign partners may cater for the needs of both the firm and its customers. 5.0 STRATGY IMPLEMENTATION McKinsey, (1980, p. 31) developed 7s model which Mw Morrison supermarket could adopt to implement its strategies. This model will assist the company to assess its strategies, structure, systems, skills, style, staff, synergy (shared values) and where necessary improvement or changes can be made. The current strategy of low cost, freshness and customer service (value), with its systems, structure, skills, shares values, style and staff seem to be working effectively looking at the levels of the company performance from the strategic analysis done above. However, it is assumed that the new and proposed strategies will function appropriately with other elements. Strategy Skills Synergy style Systems structure Staff Adopted from: Structure Is Not Organization (1980) The Art of Japanese Management (1981) In Search of Excellence (1982). 5.1 Challenges of strategy implementation Wm Morrison`s strategy of competition presently is the use Porters generic strategy based on low cost and market penetration which is Ansoff idea, however extending this same strategy to the national markets may attract other competitors to imitate it especially if they see the idea to be effective thereby they losing their market share. On the contrary, the adoption of differentiation strategy may cause additional costs which will lead to the increment of the organisations total costs which they may not have that much to invest. The implementation of green field, acquisition, joint venture, licensing, franchising, etc., will no doubt change the current business practices. In terms of 7s model, there will be so many difficulties with both markets entries, for instance staff may resist the idea of internationalisation and globalisation with the fear of losing either their jobs, position, modification of working conditions. When it comes to skills, the company may have to institute a program to ensure the employees have the require skills to meet the new strategies. The systems will have to be improved to meet the new demands and the structure will be altered. 6.0 CONCLUSIONS AND RECOMMENDATIONS In Johnson, Scholes and Whittington terms of feasibility, acceptability and sustainability, the strategy of low cost seem more feasible in the national markets but it may not be sustainable since it can easily be imitated by other competitors. It is not clear at this whether it will be acceptable by the employees and the shareholders Johnson et al (1988). The other options will be to adopt differentiation strategy that could be sustainable since it is difficult to copy but this option may not be acceptable given the additional costs it has to incur. Another option is the Ansoff (1991) matrix, to pursue new market strategy by using the existing products range to enter the new markets. Since this may be less risky than especially the new market strategy with the development of entirely new products for new markets. Acquisition strategy involving purchasing and controlling and existing market seem more feasible for the global entry since it is less risky, more receptive to the local customer, involving the use of local expertise, less costive compare to green field strategy of having to set up new factories to produce. Franchising could also be use as another option, however the franchisee may gain portions of the company`s profit and may even set up their own at some point resulting to a total loss of the business to the franchisee. Licensing may pose less threats to also use may be than even franchising.

American Film and Movies from the 1950’s to Present Essay -- Movie Fil

American Film and Movies from the 1950’s to Present Today, American film is among the most internationally supported commodities. Financially, its contributions are enormous: the industry is responsible for the circulation of billions of dollars each year. Since its explosion into the new media markets during the mid-twentieth century, film has produced consistently growing numbers of viewers and critics alike. Sparking debate over the nature of its viewing, film is now being questioned in social, political, and moral arenas for its potential impact on an audience. Critics claim that watching films is a passive activity in which the viewer becomes subconsciously absorbed, and creates a reliance or "addiction" to the medium, and thus can be influenced by any perpetual concepts or images. Advocates, however, argue that viewing such programs is an active process in which audience members are able to choose to what they are exposed, and interpret messages based on their individual needs and background. Perhaps both views are too extreme. Film from the 1950s to present, as will be explored in this essay, is an extremely useful medium, often underestimated within the label of "entertainment"; unfortunately, it may be partially responsible for current socio-cultural problems, too. The critical question, then, is whether film has fostered the progress of a more open-minded America, or rather hindered its development through the perpetuation of antiquated concepts of stereotypes, densensitized violence and breeding of normalcy. Whether or not a naà ¯ve approach to film as an inclusive medium holds true to fact, however, is questionable. Since its popular arrival in American culture during the 1930s, film has sparked controversy over ... ...es, Francis, ed. Washington: Smithsonian Institution Press, 1996. Jowett, Garth. "A Significant Medium", in Movie Censorship and American Culture. Couvares, Francis, ed. Washington: Smithsonian Institution Press, 1996. Lyons, Charles, "The Paradox of Protest", in Movie Censorship and American Culture. Couvares, Francis, ed. Washington: Smithsonian Institution Press, 1996. Ross, Steven T., ed. Movies and American Society. Oxford: Blackwell Publishers, 2002. Wasser, Frederick. "Is Hollywood America?", in Movies and American Society. Ross, Steven T., ed. Oxford: Blackwell Publishers, 2002. Slocum, J. David, ed. Violence and American Cinema. New York: Routledge, 2001. Rotham, William. "Violence and Film", in Violence and American Cinema. Slocum, J. David, ed. Routledge, 2001. Turner, Graeme. Film As Social Practice. New York: Routledge, 1999.

Reliablity vs Validity Essay

The purpose of this weeks’ discussion is to evaluate and analyze an article by identifying issues related to general method reliability and validity. The article that was chosen was â€Å"Trust in the Face of Conflict: The Role of Managerial Trustworthy Behavior and Organizational Context† by Korsgaard, M. A. , Brodt, S. E. , & Whitener, E. M. (2002). This paper will discuss how negative conditions between employees’ and management pose a risk in trust. Reliabity and validity are pertinent in getting a true assessment of how negative conditions can affect the employee morale. Korsgaard, M. A. , Brodt, S. E. , & Whitener, E. M. , wrote an indebt article on trust and negative events and how it relates to management and employee interactions. This article proves that it is essential for management to understand how imperative it is to implement trust and willingness to listen to their employees in the workforce. In this article reliability and validity shows to be accurate due to the overwhelming amount of evidence that proves that management needs to implement the changes in order to improve employee morale and willingness to work hard. Reliability referred to the stability of findings; on the other hand validity represented the truthfulness of findings (Altheide & Johnson, 1994). The article does not appear to represent one just a quantitative research or one of a qualitative research so this research must be considered a mixed method approach. There is not numerical terminology displayed in this article but does have extensive information on other proven ideas and past research. Qualitative research seeks depth over breadth and attempts to learn subtle nuances of life experiences as opposed to aggregate evidence. Qualitative research is contextual and subjective versus generalizable and objective. (Whittemore, R. , Chase, S. K. , & Mandle, C. L. 2001 p. 524). Because qualitative research is based on entirely different epistemological and ontological assumptions compared to quantitative research, many feel that validity criteria of the quantitative perspective are therefore inappropriate (Hammersly, 1992). Employees’ perceptions of their managers’ trustworthy behavior and of the fairness of HR practices are also likely to have consequences for employee behavior (Korsgaard, M.  A. , Brodt, S. E. , & Whitener, E. M. 2002). This article shows how management and staff interaction related primarily on how management makes employees feel in the workplace which proves that validity and reliability is important when researching this topic. Goodwin, L. D. , & Goodwin, W. L. (1984) wrote that many qualitatively oriented evaluators are tempted to disregard the validity and reliability issues that are traditionally associated with quantitative evaluation techniques frequently ignore concerns regarding measurement validity and reliability. Due to this research using both qualitative and quantitative approaches is necessary to depend on reliability and validity of research because it proves the outcomes of the study. The need to know what validity and reliability is just as important as quantitative and qualitative research. There should remain a focus on all four aspects during research to improve the outcomes of progressive research. These efforts will allow better details in the conclusion of research.

Panera Bread Company Essay

Panera Bread Company is regarded as one of the largest company in the United States that has specialized in the production of breakfast and lunch food for its consumers. Panera Bread Company which was in the years back been referred to as An Bon Pain is reported to be producing products such as baked foods, sandwiches, soups among other food products and beverages. The company is reported to have been founded in the year 1987 by Ken Rosenthan with its headquarters situated in Richmond Missouri in the USA. The company operates in divisions namely; franchise segments; who are licensed to carry out business transactions in the name of the company and retailing operations; which covers over five hundred bakery cafes that are reported to be company owned and over six hundred cafes which are franchised operated in more than thirty five states. In the year 1999 it was expanded into a national restaurant. Panera Bread Company has struggled to survive the growing competition and to effectively utilize its opportunities by utilizing the concept of company analysis which is very critical in modern business world. The aim of Panera Bread Company has always been to become a market leader in production of foods and beverages globally by diversifying and reaching to many new markets. In the year 2005, the company was ranked top forty by the Business Week in the annual list of hot growth companies. By that year its earnings was projected at $ 38 Million with an increase of over 40% in profit. In the year 2007, Zagat rated the company to top the list of Overall Food Facilities and Popularity rankings. Panera Bread Company is further recognized for its involvement in community events such as silent auctions, runs and walks by making donations. SWOT Analysis Modern businesses are faced with changing business environments and Panera Bread Company is not exceptional from facing such changes within their business context. By carrying out SWOT analysis, environment analysis is very decisive to Panera Bread Company and it is usually analyzed in two extents; the external environment and internal environment examination within the business perspective. Research reveals that the analysis of external environment illustrates opportunities and threats that exist in the market for a firm that may be either present or impending. On the other hand, internal environment examination depicts the strengths and weaknesses that the business may face in the market place (Anthony, 1998). Strengths Strength in this context can be identified as that distinctive ability posed by a firm and if the company utilizes such an opportunity it can succeed and can gain competitive advantage, over its rivals in the industry. The most common strength associated with Panera Bread Company is that of being a market leader in the food industry and particularly marketing of bread. Research indicates that Panera Bread Company is better placed than its main rivals in the market in that it has significantly acquired larger market share which is attributed to its diversification to various countries in the world, for example it has opened many subsidiaries in Toronto, Canada. It is also reported that the company has a strong brand name of its products which have significantly aided the company in terms of achieving a larger market share. The other strength that the company has is that of the best marketing channels that have aided marketing of packaging solutions products to a wider range of customers (Kotler, 1996). Weakness Weakness in this context can be referred to as any dimension of a firm that possibly will deter the accomplishment of set objectives by the firm and usually considered to comprise the company’s resources, capabilities and assets that are not fully utilized. From the company’s profile it can be noted that Panera Bread Company has weak policies, procedures and regulations that may deter the attainment of target performance of the company in some target markets. It is also reported that recently, the employees are not motivated to work and there has been complains regarding low pay and poor working conditions among others although such reports have not been proved. The management of the company should therefore look for ways in solving such problems that may affect adversely the performance of the employees and thus the overall performance of the company. Also the culture of Panera Bread Company has been under scrutiny and there has been allegation that the company is producing loaves of bread which are of poor quality, an issue that the management should look at it seriously (Anthony, 1998). Opportunities For companies to achieve the set objectives, they have to identify and devise events or features in the business external environment that will give them an added advantage or chance of performing better than their competitors. Such an event or feature can be referred to as an opportunity because it will create more chances to the company by increasing the current proceeds through acquiring a significant market share. Panera Bread Company has opportunities that if utilized will be of great benefit to the firm because it will lead to exploring and reaching to more new markets. Research indicates that there is greater demand for bread products in Africa and the management of Panera Bread Company should open subsidiaries in some of those countries after carefully analyzing the situational analysis in those potential markets. Since Panera Bread Company is among the market leaders in bakery industry; it is perceived to be having a well developed financial foundation and thus does not face any liquidity or cash flow problems. It is for this reason that the company should explore new markets and can compete across the entire market without fearing that its competitors can outdo them financially. However, before competing Panera Bread Company should carry out cost benefit analysis in order to avoid unnecessary expenditure (Brandenburger and Nalebuff, 1995). Threat In business context, a threat is regarded as an event which if not taken care of it may possibly deter the accomplishment of company’s goals e. g. customers declining income and competition among other events deemed to causing danger to the operations of the business. Panera Bread Company is basically faced with intense rivalry in bread and beverages products since many firms have opted to join the market because it is considered profitable. In fact, in some market segments particularly in Canada there has been a significant drop in terms of the company’s market share because new firms has entered the industry. Globalization concept has brought about new inventions and Panera Bread Company is faced with the task of coping with such innovations, for example the task of training and development programs to educate the employees on new technologies might be costly and difficult to acquire; such as the use of on-line marketing techniques and networking facilities (Anthony, 1998). Competitive Strategy According to research, Panera Bread Company has embarked on identification of markets that bread products and beverages can do best and it is through this that the company has sold a lot in the target areas. This strategy is normally referred to as segmentation; where the company has avoided competing entirely across the entire food industry but instead targeting certain markets i. e. bread and some beverages markets. Market segmentation will be an ideal situation for Panera Bread Company since competing across the entire market is expensive and considered to entail a lot of risks that the firm cannot sustain for example unfair competition by its rivals in the market (Bagley and Savage, 2006). This will involve Panera Bread Company marketing staff subdividing the existing market into different subsets of clientele where each division may be chosen as an intended market to be explored with a different marketing mix strategy. In essence, target marketing strategy will involve market segmentation which Panera Bread Company will have to find it on the acknowledgment that any segment comprises of potential buyers of bread products and beverages with diverse needs and dissimilar buying behavior. After carefully developing and subdividing the entire market to segments or the target markets, Panera Bread Company should then position itself on how to carry out the marketing activities in order to meet the overall objective of the corporation. Under this; positioning will imply to the formation of limits for bread products and beverages in the minds of the intended market in relation to the rivalry faced. Positioning of any firm including Panera Bread Company is very essential since it forms the foundation of all the communication of the company that comprise the following; branding, publicity, advertising and packaging among other strategies. Therefore it will be prudent for Panera Bread Company to create a single unique position which will operate as a guide for marketing communications involved thus will aid in transmission of steady image (Cullen and Parboteeah, 2005). HR and its Importance Since the mission statement of Panera Bread Company is clear, that it aims at being the market leader of producing bread products and some beverages not only locally but globally it should implement its marketing strategies particularly in the identified target markets. Implementation is putting in to action whatever plan or strategy that the management had formulated and therefore human resource is the most crucial asset in this stage. Research indicates that any company must motivate and provide clear direction to its human resource in order to attain its objectives. Therefore, Panera Bread Company should clearly identify the needs of its employees and try to meet them in order to give them an ample opportunity to serve diligently and be dedicated to the company. By offering a competitive package and offering performance contracts to the employees; ensures that they perform to the fullest because they will be highly motivated to work. Good leadership and management skills will be essential to Panera Bread Company’s management staff in order to command respect from the employees (Hilltop and Sparrow, 1994). Recommendations Panera Bread Company should note that nowadays, it is possible to use e-business through the internet for distribution purposes especially when dealing with international businesses. Digital innovations coupled with rapid growth in new technologies are changing the way distribution channels for companies and Panera Bread Company is able to use such hi-tech communication channels to monitor progresses in the market places not only in USA but globally. The company should further utilize modern entry market modes which such as Foreign direct Investments and licensing in order to build long-term markets in its target markets. It will be possible to also adopt joint ventures which will make possible for Panera Bread Company to gather enough market information quickly and familiarize itself with the laws, regulations and needs of the customers in the target market (Grant, 2005). Conclusion Panera Bread Company is among the current market leaders in the food industry and therefore stands a better chance of attaining a significant market share as a result of the brand name of its bread products and beverages that are regarded to be of high quality. Every business including Panera Bread Company is faced with challenges and it has to fully adhere to market regulations in order to avoid unfair competition. The concept of globalization cannot be written off either since many firms including Panera Bread Company has diversified to various markets and there are threats and opportunities associated with such globalization. Therefore the company should formulate strategies that are considered global in nature in order to meet the current expectations of the customers in the target customers. Such strategies like build, harvest or divest should be considered by the Panera Bread Company when assessing the performance of its products in its target markets. Management functions of planning, directing, leading and controlling should be adhered to by the management of Panera Bread Company in order to significantly improve the operations of the company by achieving the required targets (Kotler, 1996)