Survival Tips for Freshers' week

Moving in and meeting new people

• It’s likely you’ll be pretty busy during your first week, so get there a few days early so you have time to unpack and settle into your new digs.

• Leave your door open while you unpack your stuff – this is a welcoming gesture and people are more likely to stop by and say hello.

• Get something to use as a doorstop to help with the above - a sign with your name on the door is also good, too.

• As soon as you have met one person, go around with them and knock on everyone else’s door in your block. Hopefully you will be less nervous in a pair and then you can meet quite a few people by going around together.

• Make up your bed as soon as you arrive – this means you can take a rest when you get tired of unpacking and introducing yourself to lots of people.

• Make your room more homey by putting up some posters on the walls.

• Bringing a tin of cakes, cookies or chocolate bars will attract people to knocking on your door instantly!

• Don’t be afraid to start up random conversations with people you just happen to be standing next to while waiting for something – that is how you make your new friends. Chances are, they're just as nervous as you and will welcome the chance to have a conversation without having to start it themselves!

• Get your computer set up so you can put some music on – people will hear it, and talking about favourite songs and bands is always an ice breaker!

• Smiling a lot will make you seem more approachable!

• Try not to worry if everyone isn’t as friendly as you are – it’s likely you won’t get on with everyone you live with. You’re bound to make lots of friends outside of halls so you don’t have to feel like a social outcast!

• Try to go to as many social events as possible. It may be a little tiring, and you're unlikely to remember everyone later, but the more people you meet now, the more you will bump into other people you will recognise and can chat with later on.

• Don't stop talking to random people after freshers' week - keep it up and that way you will carry on meeting new people. As people settle in to the university, they will become more relaxed and not so concerned about keeping up their 'friend-making' behaviour.

Finding out more about your university

• Many universities publish Freshers' Week schedules on their websites or on the Students' Union website. Finding out what’s happening in advance might give you a heads up on what you’ll need for partying the night away!

Socialising

• Make sure you take some cash with you when you first go to the bar - there may not be a cash point nearby.

• Save a few taxi company numbers to your mobile, in case you have no other way of getting back to campus.

• Going out is always a daunting experience for a fresher, as it’s the first time you’ll be going out with different people and meeting more new ones. Hopefully you’ll feel more comfortable once you’ve been out to the bar a few times, and downing a few drinks is certain to help the situation!

• Students in their 2nd and 3rd years will be able to help popint you in the right direction of the best places to hang out. They are also usually the people who are selling tickets for the evening events.

• You will be able to find out about events at your Student Union or you may be able to sign up for email alerts about what's happening around the university.

• Get your tickets early for popular events, as they will sell out quickly and you don’t want to be disappointed!

• For the girls – it’s a good idea to take a pair flat shoes with you whenever you go out. If your high heels start killing your feet (or you are too drunk to walk properly in them!), you will be glad of them.

• If you're off to London, or your Uni is in London, make sure you've got enough credit on your Oyster card before you set off. You don’t want to be queuing for ages at the machine during your night out!

Budgeting

• Don’t sign up for everything at the Freshers’ Fair if they want you to pay up straight away. Put your name down, but think about it first before making any payment.

• Draw up a budget for Freshers’ week. A lot of new students spend too much on alcohol, which means they don't have much cash left over for other activities or for further on in the year. You will find planning ahead will help you in the long term!

• Put on an extra layer of clothes or two during cold days and nights, so you don't need to crank the heating up too high. A hot water bottle is a worthy investment!

Food

• Club together with your roommates so you can buy in staple food such as rice, pasta and noodles in bulk or large quantities at least.

• It’s also worth buying a selection of store cupboard essentials like salt, pepper, herbs, spices, cuppa soups, and other dried foods you use on a regular basis.

• Try to keep some tins of beans, tomatoes, soup and similar foods in case you run out of everything else.

• Eating together as a group can be useful too. For example, if you have a curry or pizza evening, and take turns with your roommates to host it. This means you can rely on at least one of your friends providing dinner at some point during the week!

• During the winter months, you can take it in turns to spend the evening in each others rooms so that you're not heating rooms for just one or two people. You can take turns to have a TV or movie evening in. Even if it’s only once or twice a week and you keep a rota for it, the savings on food and fuel could be quite big.

• Cook more than you need and freeze some for another day – this saves on the fuel you use for cooking.

• Invest in a decent set of sauce pans – cheap ones will only last you so long!

• If your home is quite close to your university, and you're worried about your standard of cooking, you could ask your parents nicely to cook something, then store it in a suitable container(s) and freeze back at uni. You can then defrost it when you feel you need a decent, wholesome meal!

• Doing your grocery shopping online will help you save both time and money. You are more likely to just buy what you need and are subsequently less likely to buy every item or special offer that catches your eye. The delivery cost is usually quite reasonable these days, and you can always order with another roommate if you are concerned about the cost. You’ll be surprised at the amount of money you will save. Shopping online also means you don’t have to cart heavy shopping bags back from the supermarket!

Staying safe

• Always let people know where you are going and who with.

• Ask a friend call you at a certain time to check you're all right if you are out alone or with someone you don't know very well.

• Put at least one person on speed dial in case of emergencies.

• Never, ever leave your drinks unattended at any time.

• If you expect you might have a bit of a wild night, be sure to carry a condom or two 'just in case' anything happens – this applies to both boys and girls! You can get them for free from many health centres and Brook clinics.

• Register with a GP and dentist as soon as you can.

• Make sure to keep both your GP and dentist phone number handy so you can easily find it in case you become unwell or get toothache.

Don’t forget...

• Wear a pair of comfy shoes for the registration meetings, as it’s likely you will be queuing for quite a while.

• Remember to take things like pens and your diary with you to registration, as well as the Freshers' Fair if there is one - it'll help you to keep track of what you've signed up for, and you’ll be able to jot down email addresses, websites and any other useful information.

• Be prepared to queue all day in order give a piece of paper to someone and then get your photo taken!

• Always make sure you carry the correct paperwork and identification to all the registration events, and always make sure you are in the right queue – it will save you time later!

 

The Top 10 Skills That'll Get You a Job

With so many graduates now on the market, employers will look for evidence of skills and work experience which will make you stand out from the crowd. Start gathering them now, so you are ready to impress recruiters.

 

Graduate employers place a lot of emphasis on finding candidates with the right skills and competences for their organisations. Depending on the sector and profession you choose to work in, there could be very specific skills, abilities and knowledge needed to do the job. However, complementing these are general competences and behaviours that are essential for successful working. These are often overlooked by candidates, but they are the things recruitment professionals want to see evidence of.

1. Commercial awareness (or business acumen): This is about knowing how a business or industry works and what makes a company tick. Showing that you have an understanding of what the organisation wants to achieve through its products and services, and how it competes in its marketplace.


2. Communication: This covers verbal and written communication, and listening. It's about being clear, concise and focused; being able to tailor your message for the audience and listening to the views of others.


3. Teamwork: You'll need to prove that you're a team player but also have the ability to manage and delegate to others and take on responsibility. It's about building positive working relationships that help everyone to achieve postive goals and business objectives.


4. Negotiation and persuasion: This is about being able to put forward your way, but also being able to understand where the other person is coming from so that you can both get what you want or need and feel positive about it.


5. Problem solving: You need to display an ability to take a logical and analytical approach to solving problems and resolving issues. It's also good to show that you can approach problems from different angles.


6. Leadership: You may not be a manager straight away, but graduates need to show potential to motivate teams and other colleagues that may work for them. It's about assigning and delegating tasks well, setting deadlines and leading by good example.


7. Organisation: This is about showing that you can prioritise, work efficiently and productively, and manage your time well. It's also good to be able to show employers how you decide what is important to focus on and get done, and how you go about meeting deadlines.


8. Perseverance and motivation: Employers want people to have a bit of get-up-and-go. Working life presents many challenges and you need to show employers that you're the kind of person who will find a way through, even when the going gets tough... and stay cheerful-ish.


9. Ability to work under pressure: This is about keeping calm in a crisis and not becoming too overwhelmed or stressed.


10. Confidence: In the workplace you need to strike the balance of being confident in yourself but not arrogant, but also have confidence in your colleagues and the company you work for.

There are certain words which are key to catching an employer's interest. Mention them in your CV and at interviews and see how impressed they are with your business-speak (but don't go overboard or you'll sound daft).

• initiative


• dynamic


• teamplayer


• proactive


• self-motivated

You can also talk in terms of actions that you achieve through your skills by using good, strong verbs in applications and interviews:

• led


• achieved


• completed


• co-ordinated


• delegated


• delivered


• identified


• presented


• promoted


• reported


• resolved


• organised

• Make the most of university life and extra-curricular activities to develop your general skills.


• Plan early to get relevant work experience and voluntary work which will give you transferables that will make you work ready: have something lined up for each vacation, and get ready for formal placement and internship applications at the beginning of your second year.


• Religiously record the skills you gain and work experience activities you do so that you can pull out good examples on applications and in interviews.


• Network! Use family, friends and contacts to get work experience and to find out more about career areas that interest you.


• Visit your university's careers service: find out whether it runs any employability skills sessions; sign up for relevant courses and workshops; get help from a careers adviser to write a CV that really showcases your competences and abilities.


• Take advantage of careers fairs and employer presentations: talk direct to recruiters to find out what they look for.


• Always do your homework before applying for jobs. Employer research will help you identify the skills and competences a particular organisation places most emphasis on. In turn, you can tailor your application so that it stands out

 

IB in 6 points

As written on the homepage of IB, this is a quick summary of what IB is.

Summing up the IB in 6 points:

1. Every student studies 6 subjects: a first language, a second language, mathematics, a natural science, a human science and an elective which can (but doesn’t have to be) an arts/creative subject. 3 of these are done at Higher Level (equivilant to a full A-level in the UK), and 3 of them are done at Standard (equivilant to an AS level in the UK).


2. Each subject is scored out of 7 (but don’t estimate the effort and achievement of achieving this).


3. In addition, every student studies a course on Theory of Knowledge (TOK) and writes an extended essay (EE). Together, these can add 3 bonus points to your score.


4. Hence, the maxium possible score is is 45. (6 subjects at 7 points each, plus 3 bonus points from ToK/Extended Essay.) This is scored by 0.2% of the world. A typical Oxbridge offer is 40 points. The average score worldwide is 30 points.


5. ToK is a course of applied philosophy. It is designed to give students an insight into the problems of knowledge in their life, and some of the limitations of their ability to know something. The Extended Essay is a 4,000 word research essay, written over the two years of the course, on a subject chosen by the student. Both are compulsory. Failing either results in failing the diploma.


6. As a “counterbalance” to the academic rigour of the course, every student completes around 150 hours of community service, known as CAS (Community, Action, Service).

 

11 Ways of Making Quick Cash @ University

Ideas to help you seek out opportunities to earn money quickly, whether you need yo fund a cheap night out, or you're saving to fund a holiday, gap year or accommodation deposit.

With deposits for accommodation and travel costs for trips home in the holidays taking their toll on bank balances, many students end up strapped for cash at different points in the year.

Sure, summer jobs and internships can provide a solid source of income, but here are some options and ideas for earning some ready money, fast – and you'll add some extra work experience oomph to your CV at the same time.

Shop for jobs locally

First of all, check out your university jobshop. These invaluable resources are usually attached to the careers service (or sometimes, the Students' Union) and offer a whole host of temporary, ad hoc or part-time work, typically with local employers.

Most jobshops have a website where you can search for vacancies and they may also have a regular newsletter that you can sign up to, to keep you informed about the latest vacancies. Even if you’re not in the market for work now, find out where your university's jobshop is in case money gets tight in future. Also, although job vacancies advertised here would expect you to have very little work experience, its always helpful to brush up on job interview skills in case competition is stiff from other cash-strapped students.

Even if you’re not in the market for work now, find out where your university's jobshop is in case money gets tight in future.

If you have more time to spare and can make a regular commitment, check local pubs, clubs and shops for spare shifts. Nursing homes and residential centres are often in need of staff too, which is excellent experience for those looking to go into careers in social care or the healthcare professions.

Find work on campus - take part in research studies or help out with admin duties

Keep your eyes open as you wander around campus too. Notice boards in corridors can hide a whole host of job opportunities.

Psychology departments often look for human 'guinea pigs' to help test out theories and experiments. You might have to commit a bit of time and make a return visit or two but it's often easy money for little effort – particularly if you have a department that runs sleep experiments! Similarly, other science departments such as food or sports may be on the lookout for volunteers.

The admin department of your university could be a good bet. Jobs can come up at times when they’re stretched, involving tasks such as data entry, envelope filling and mailing out of prospectuses. The alumni association is also worth a try as they sometimes require current students to make calls to graduates to solicit donations to the university. These are great opportunities to develop your office admin and telephone skills, which are employer-friendly additions to your CV.

You could approach the Student Union. They may take on students to help with promoting events at the union, posting flyers and sticking up posters around campus. Sometimes these roles will be paid; at other times you’ll be offered free tickets, which, if you were planning to go along anyway, can save you a fair bit of cash.

Sell your knowledge and English skills: try tutoring

If your English skills are up to par, you could always offer your services proofreading essays for international students for a small fee. On a similar note, you could consider tutoring your degree subject to GCSE and A level students. This can also help you in revising and explaining the basics of your subject area: handy if exams are fast approaching, and also good for graduate jobs interviews where a good understanding of the fundamentals of your subject can go a long way.

Market research and sales

Participate in market research. You may come across the occasional opportunity on campus but the internet is the place to go to find opportunities. As with anything online, take some care to make sure it’s genuine. A quick internet search can prevent you from getting burned – there are plenty of forums and discussion boards where you can find out if the opportunity really is too good to be true.

For something longer term, you could always consider becoming a sales rep for a catalogue company, running ‘parties’ for Avon, Virgin Vie or even Ann Summers! However, these often require initial outlay and you should bear in mind that if you’re hard up it’s likely that your friends and peers will be too and they won’t fork out for your merchandise.

If you’re artistic or crafty you could always try selling your wares; either on campus (get permission first!), at local markets, or via online trading sites such as ebay or etsy.com. Check out our article on making money from the comfort of your home or tips for budding entrepreneurs. If you’re not so blessed with talent, flogging some of your unwanted possessions could be a good stop-gap measure.

15 Amazing Moments in Life;

Once in a while, you need a pick-me-up. Heres the perfect list to of little moments that pull on our heartstrings. Sometimes we don't know what we have til we've lost them.

1. Falling in love.
2. Laughing so hard your face hurts.
3. A hot shower.
4. No lines at the supermarket
5. A special glance.
6. Getting mail
7. Taking a drive on a pretty road.
8. Hearing your favorite song on the radio.
9. Lying in bed listening to the rain outside.
10. Hot towels fresh out of the dryer.
11. Chocolate milkshake.. (or vanilla or strawberry!)
12. A bubble bath.
13. Giggling.
14. A good conversation.
15. The beach.
16. Finding a 20 dollar bill in your coat from last winter.
17. Laughing at yourself.
19. Midnight phone calls that last for hours.
20. Running through sprinklers.
21. Laughing for absolutely no reason at all.
22. Having someone tell you that you're beautiful.
23. Laughing at an inside joke.
24. Friends.
25. Accidentally overhearing someone say something nice about you.
26. Waking up and realizing you still have a few hours left to sleep.
27. Your first kiss (either the very first or with a new partner).
28. Making new friends or spending time with old ones.
29. Playing with a new puppy.
30. Having someone play with your hair.
31. Sweet dreams.
32. Hot chocolate.
33. Road trips with friends.
34. Swinging on swings.
35. Making eye contact with a cute stranger.
36. Making chocolate chip cookies.
37. Having your friends send you homemade cookies.
38. Holding hands with someone you care about.
39. Running into an old friend and realizing that some things (good or bad) never change.
40. Feeling as though you finally belong somewhere.
41. Watching the ___ expression on someone's face as they open a much desired present from you.
42. Buying amazing clothes that you found on sale.
43. Watching the sunrise.
44. Getting out of bed every morning and being grateful for another beautiful day.
45. Unexpected moments that become your favourite memory.
46. Knowing that somebody misses you.
47. Getting a hug from someone you care about deeply.
48. Knowing you've done the right thing.
49. Deciding what you want to do with your life.
50. Meeting people that happen to change your life
51. Realizing that everything is going to be okay.



Between two realities.
You have two choices.

One: You go on with life. You take minor moments for granted, and you live out to old age in a long-verse of nonchalance.

Two: You acknowledge your existence is limited, and that you should do something great with it. Be brilliant. Mark yourself on the timeline.

Report: How would you use $5Million to improve your school?

Applying concepts from Business Studies to write a report on how to improve your school. This kind of application of theory to better some aspect of the world you live is a major goal for the IB (after all that's what CAS programmes and the Group Four project is targeted towards).

You have been allocated $5m to improve the quality of teaching and learning at your school: write a report on how you would invest the money

In less than 500, please identify specific areas in which funding would help better the school.

A way to improve the quality of teaching and learning at XXXX  could be to use investment into technology to improve interaction. Investment into clicker technology improves the interaction of teachers and students. Clicker systems are systems that give the student remotes that allow them to respond to questions projected onto the screen. It allows the teachers to ensure understanding of the topic, and if questions are answered wrongly then the concepts can be taught in more thorough detail to ensure all students understand. This can eliminate problems caused by large class sizes where teacher to student communication is limited and also human dynamics where some students are more proactive in answering questions than others. If certain questions are misunderstood then these problems can be identified and addressed. It also allows class quizzes to occur in a more environmentally friendly way where the marks are directly connected to a Microsoft excel mark book.

Smaller class sizes can maximize the attention given to each student, thereby allowing the student’s queries and problems to be properly addressed, which potentially improve the quality of learning. Perhaps this can be adapted into only classes of the upper years, for GCSE or for IB so that the students can address the problems properly before the public exams where quality can be checked. The money will be used for the administration costs and also the costs of implementing smaller class sizes. This is good because more attention given to students, therefore more opportunities of quality teaching and learning. Also there is improved quality assurance as quality can be consistently checked. Teaching can be tailored to a small number of students rather than a large group in ways that are beneficial to the specific students in the class to ensure better quality of learning. Better communication channels between teacher and student where problems can be communicated more efficiently.

The quality of learning can also be improved by using communication channels that students are familiar with. A prominent number of students at school use youtube, where discussion can take place on the youtube videos. It allows students to communicate on a less formal level, taking away the pressure in the classroom. Perhaps assigning tasks that allow the students to use videos to present their understanding could help ensure the quality of teaching but also ensure understanding of the content. The money can be invested in the training of teachers in methods that involve interaction over the internet, and these skills learnt can be implemented into the development of communication channels through youtube.

Word count: 424 :)

& just touched upon 3 different concepts - investment into technology, improving the quality of education/training (and hence the quality of human capital in school), and widening methods communication to include more of the student population. Yays.

A Parent's Guide to IB

A decision to do the IB is not one that should be taken lightly. A lot of people will have a variety of views on whether it is a good thing for your child. Ultimately, you have to make the decision with your child. You know more than any outside about what is best for your child, and whether the IB is suitable for them.

I firmly believe that the IB was right for me. I also believe that the IB has the potential to be a very good thing for a lot- but not every- 16-18 year old.  What I aim to do is to provide information about why you should consider the IB. I do not claim to know what is best for your child, but to give you some things that I think are worth considering.

• The IB offers breadth. More so than the current A-level system, the IB creates rounded and balanced academics.  Students are required to study a wide range of subjects (including a compulsory MFL and mathematics). The upshot is students who are more ‘knowledgable’  in the best sense of the word. There is an attendent disadvantage: that your score in one subject affects the overal diploma score.  If you score badly, in say, maths, your overal score will be lower. More on the mechanics of that here.


• Time. To do the IB well takes a lot of it.  The myths of IB students having no social life at all is a myth. Most of us are human, or were at one stage in our lives.  However, you are doing 7 subjects, some of which you don’t get to choose.  In order to get the very best marks, you will  be working a 60-70 hour week. (10 hours a day every day is about what I did during most of Year 2) CAS requirements also force a not-so-outgoing teen to get involved in at least one activity related to creativity, action and service. It is very hard, and do not underestimate just how much work is involved.


• Grade Inflation. This is the big plus of the IB when considered in the British system. There is none. The same percentage of people get full marks (45) today as they did when the IB started. Likewise, the mean score is always 30 points (+/- 1 point. You can be certain that the IB you do today is worth the same as the ones sat 30 years ago. I don’t have that faith in the A-levels.


• Uni Preparation. No other qualifcation at pre-University level makes doing a 4,000 wd essay and a course in ToK compulsory. This is precisely what universities love: it shows that you have some experience of writing university essays and makes you stand out from the crowd. Doing a CAS project might seem intimidating for your child at first, but the opportunity and experience of planning and organising an entire event/activity stands out for most universities that want pro-active and interesting student body.

 

 

IB: Business Management: Marketing Product (Unit 4.3~the product)

THE PRODUCT - notes

• A product is something that the company seeks to sell to satisfy customer needs and wants


• The product was ‘add value’ meaning that the value of the finishing product needs to be higher than when it first went into the factory, meaning that the company is actually able to make a profit from it


• There are different classifications for products:


• Fast moving- products that are necessary for daily use, like toilet paper and it is something that consumers need to buy. Something that is bought for a short period of time, meaning quick and rapid resales. Usually a large volume is sold with a low profit margin due to the low prices. There is small customer loyalty, and therefore a high elasticity of demand( consumers are more sensitive to price changes)


• Perishables- products that easily and quickly are out of use, for example flowers or food, that have a certain time period where the product is useful. They are usually priced very high during peak times like valentines day for flowers, however due to the temporary nature of the products, it means that it is therefore costly to get rid of excess stock.


• Durables- products that are used for a long period of time, like a phone or electronics in general. This means that there is usually a high profit margin due to the high prices, it takes up a large portion of the consumer’s income but it also means that they wont be buying very rapidly.


• Specialty- these products have a high profit margin due to their high prices, they are very exclusive products like the iPod for apple, these cannot be sold from any other brand meaning that they have a low elasticity of demand  and the consumers are less price sensitive. This is also applied to the Porsche and the Ferrari.


• Product range- This is all the range of products in the product mix of a company, meaning all the products that it sells.


• Product mix- The different types of products that your company offers, like a phone or television. It doesn’t necessarily mean specifically touch screen phone and non-touch screen phone, but just a phone.


• Product line- the different types of product within your product mix, like different sized television screens. They are essentially the same product(product mix) but they are different variations of the same product.


• New product design and development


• Must have market research to support design and development to ensure that what you produce is what the consumer wants reducing sales


• Product life cycle


• This is looking at the way a product behaves throughout time on the axis of sales revenue and time

• Research and development is the stage before introduction, and this is the stage where new products are being test marketed and tested before it is launched to minimize risk


• The research and development stage is very costly due to the high rejection rate of products and also the industrial espionage risk, as many car products are publicized during testing periods


• High investment with no return, very risky for business


• Introduction is the stage where the product is launched and pubicised to the general public, a lot of intense marketing is used here like launch campaigns, below the line promotion to enhance consumer awareness of the product


• Little growth and little market share and little profit due to the lack of consumer awareness to begin with


• Objective is to get to growth as quickly as possible as that is when they start making profit


• Growth is the stage where consumer attention has been yielded, and also sales revenue begins to increase quite rapidly


• There is still low market share as the product is still being noticed by the consumers


• Starts facing competition


• Many companies wish to stay in growth for as long as possible because of the fast growing market share and fast growing profits of the product


• More product differentiation occurs here, the product is distinguished amongst other products causing it to increase in sales


• Increase in distribution areas- place


• Maturity is the stage where the growth slows down, with a high market share but low growth quite equivalent to the cash cow on the boston matrix


• This is the stage where a lot of promotion and above the line promotion is used because of the high and intense level of competition, making it crucial for a distinguishing advertising campaign to work.


• Highly reliant on promotion to differentiate itself


• Products like coca cola and mars bar stay at this level for a long period of time


• High level of Economies of scale in terms of production and marketing


• Unsuccessful competitors then drop out


• Decline is when the product grows old, and many replacements appear, making it not worthwhile for the business to continue investing in that product


• For example cathode ray televisions have now been replaced by LCD screens in televisions


• Equivalent of the dog in the boston matrix


• Sales fall and prices decrease as there is no longer a demand for the product


• Extension strategies, are strategies that a company uses to prevent their product from entering the final stage of the product life cycle(decline) for example

-          Re-advertising, with a completely new image to provoke a different impression of the product, like Hello Kitty advertising towards teenage girls rather than young girls

-          Below the line promotion, like discounts and coupons to encourage sales in the short term and to stimulate consumer interest in the product

-          Creating new variations of the product, like a fun sized chocolate bar to arouse consumer interest and also to prevent the product from entering decline

-          Target towards different market segment, aim it towards a different set of people with a different marketing strategy to maximize sales to a larger group of people

-          Redesigning and repackaging, different types of packaging to change the image of the product

Branding

• Branding is referring to the identity that is usually given to a product to improve customer loyalty and brand recognition, it represents the product and the company in a shape or a word


• This is a key product differentiator, allows the product to be separated from others.


• Intangible asset in the way that it is not something that you can achieve just by buying it, it is something that is built over time


• Trademarks are legal rights to protect the brand, to allow the business to enjoy the benefits of a good and established brand

Brand development

• Build the awareness of the brand, which is crucial for a successful brand and successful product, because even if the product is good, it doesn’t mean that it will sell very much because of the lack of awareness and recognition of the brand


• This is a long term investment, and it is very expensive


• But to build a strong brand is the aim of every marketing department

Brand Loyalty

• Very important to business to encourage customer resales, and it ensures that consumers will buy from them rather than from a competitor, hence ensuring that their product is differentiated from that of another company’s because of the strong and established brand

Loyalty programs

• This is to encourage the loyalty of consumers, for example with the use of membership cards, or certain below the line promotion schemes that encourage buyers to buy from that certain brand, hence building a good brand recognition and brand loyalty

Why should firms develop a brand?

-          Reduces risk, so if they try to expand into different product markets, it means that there will be less risk as there is an increased brand recognition, which means that people will buy it because they recognize the brand. For example, Mars advancing into ice cream products, because of the well known and established brand of Mars, it means that consumers are more willing to try their new ice cream products due to their already established impressions of the mars bar.

-          Foster extension strategies, it means that the extension strategies of that successful brand is likely to work, for example by re-advertising a product with a different image or changing the product to appeal to different target markets, it is likely to be more successful because of the brand loyalty and brand recognition

-          Distribution advantages, it means that the business will not have to look especially for a distributor to sell the product, if the product is well known and it sells it means that all the distributors will be fighting for the most recognized products as they have a highest chance of selling. 

-          Competitive advantage, with a more successful brand it means that it can potentially generate a large volume of sales, this is due to the fact that consumers trust the product and are willing to spend money on it as they associate the quality of the product with the price

-          Premium pricing, the business or firm is able to use premium pricing and get away with it because their products are associated wth a higher quality, and because of the brand recognition and customer loyalty it usually entails that there will be a high elasticity of demand, and customers will be less sensitive to price changes if they are loyal to that brand

• Barriers to entry,it means that with a lot of well established brands in the industry it prevents any small business from wanting to establish themselves in that market. This is because of the high economies of scale for the businesses with big brands, for example Mcdonalds has a very high economies of scale due to it’s size, purchasing and also because of it’s well known brand, which makes it hard for a new unknown business to establish themselves. This is because of the relatively high startup costs, and also they cannot compete with the low prices of these successfully branded companies.


• Types of branding


• Family branding- many products under the same brand, like virgin has a wide variety or a wide product range all under the same brand name


• Company branding- meaning that the branding follows after the name of the company like adidas or nike, this is useful for marketing economies of scale


• Own brand- many retailers like park’n shop have their own brands, that are set at lower than the prices of the big brands. Appealing to consumers who are more price sensitive, and also this is possible due to the high purchasing economies of scale


• Product branding- under the same brand name like coca cola there can be many different individual brands. For example coca cola with sprite and fanta, these are all separate brands but under the same company, this may be used to allow consumers to not associate the products together by creating a different brand image for both. Also shown in Lexus in Toyota


• Manufacturer’s brand- this is branding that is from the company in itself, the company is responsible for manufacturing and selling. For example dell is able to directly sell to the customer.


• Branding in a global market: this makes it important for a business to have an established brand, which allows it to be easily recognizable across nations. For examples Mcdonalds has a very recognizable brand, which allows the consumer to recognize the brand


• Some brands are ‘glocalized’ meaning that they are adapted to certain areas to suit the demands of the local customer, for example a brand name that may seem suitable in one nation may not be the same in another, to cater for different target markets


• A globalized brand also allows the firm to have global marketing economies of scale, as one advertisement can be used worldwide, rather than repeatedly creating new ones for each brand name in each different nation


• It encourages customer loyalty

Product differentiation

• Companies need to differentiate their product in order to survive in the competitive market


• In terms of


• Design(also includes durability and quality)


• Appearance


• After sales service


• Loyalty programs


• Availability, abundance of their product in terms of distributors.

Benefits of differentiation

• More competitive advantage


• Increased customer loyalty and recognition of the brand as you are differentiated from other competitors


• Allows premium pricing, because your product is not something that other businesses can offer


• Distribution advantages, more people want to sell your product in their store

Boston Matrix

• A measure of market share against growth


• Used to analyze the product portfolio of a business and to assess whether they are worth investment or not


• Good to have a large range of products, this is because risk is spread, if your business is declining in one market but expanding in another it means that your business is at less risk as compared if you had a less diversified product range


• This is because different products do well in different economic climates, for example certain airlines under virgin will do well in economic recessions but not so well in other times.


• It is also good because it means that larger revenues can be generated due to the diversity of the products


• Boston matrix analyzes different products and assesses where they lie within the matrix and is used to judge whether or not a product is worth investment


• CASH COWS: are products that are in the maturity section of the product life cycle, they are the bread and butter of the company’s profits, and they generate a lot of sales revenue. High profits, low growth, high market share.


• STARS: Relative to the growth section, high growth, high market share but still need investment to go onto being cash cows


• QUESTION MARKS: They have a high growth but a low market share, this is a product that could be a dog or a star, it depends on the nature of the product and the availability of resources within the business, the fate of the question marks usually is the outcome of market research on the demand of such a product-requires a lot of investment


• Low revenues


• DOGS: lack of demand, equivalent of the decline stage of the product, there are many substitutes and they gradually become out of fashion and out of production. Low market share, low growth they are considered an opportunity cost as that money could be used elsewhere for example in training.


• However there are limitations to the Boston matrix as the boston matrix highly focuses on the sales revenue, when indeed a lot of sales revenue does not necessarily equate to a high profit because it depends on the management of costs within the business

 

IB Business Management Task: Examining Hitler as a Leader

Examining Hitler as a leader

Hitler was quite an autocratic leader, as he is infamous for his ability to make a large mass number of people follow his orders and decisions.

WHAT MAKES HIM AN AUTHORITARIAN (AUTOCRATIC LEADER)?

• Hitler did not consult the German people for decisions, and people had no rights to oppose the laws of the Nazis. This shows that Hitler was definitely not a democratic type of leader.

EXAMPLE: Hitler did not consult the people of Germany whether he should exterminate all the Jews during the Holocaust; it was mainly based on Hitler’s strong anti-Semitic ideas. (http://en.wikipedia.org/wiki/The_Holocaust)

• Hitler is not known for delegating tasks to other people, actions are done based on his own judgment. This shows that Hitler did not adopt a ‘laissez-faire’ type of leadership style as he sought to control every aspect of people’s life.

EXAMPLE: Hitler always had to be in charge of the affairs in Germany, he had to be in control of everything. This is shown in the Hitler Youth groups; where youths were taught follow the rules of Nazism.

• Hitler told the people of Germany exactly what to do, for example people were ordered to join the Nazis and help the Nazi cause, like exterminating the Jews.

 

Why was he a good leader?

1. Hitler was a good orator; his oratory skills were effective in persuading people to do what the Nazi’s wanted. Hitler had the skills that allowed many people to follow him, which is good for management and leadership.


2. Hitler was quick to make decisions, he was not democratic so therefore decisions were made quickly, and because he had a lot of support they were obeyed.


3. Hitler kept people disciplined, if he had a laissez faire type of leadership it would make his position as leader of Germany vulnerable as it didn’t keep people restrained.


4. People believed in Hitler, and what he said was always seen as rational as Hitler had a large amount of support.


5. Hitler’s style of leadership made people want to reform to his ways better, for example they all attended his Nazi-run organizations. This continued the support they have for him, and also it is good for self improvement for people. This is a good style in management as well, because it encourages staff to continually improve.

 

IMPROVEMENTS FOR HITLER AS A LEADER

 

• A disadvantage for autocratic leadership is that many people tend to be de-motivated because the leader is not always amiable. Hitler controlled people out of fear, so therefore I think that Hitler should have been more democratic to keep his support, as many people had complaints about the Nazi state.


• Situational leadership might have been good for Hitler as well, as it means that he was not always autocratic but instead democratic when needed. This would keep people disciplined AND have his continued support.

Hitler’s influence on others and their achievements

 

• Hitler was effective in influencing a large section of the German population; people often followed his decisions because his influence was great.

-  People were quick to join Nazi-run organizations to become the “ideal German” where they learnt racial differences between Jews and non Jews and also Nazi ideology.

- Hitler created a very strict atmosphere in Germany where people were made to obey the laws; people often achieved a lot to satisfy the needs of the Nazis.

 

 

 

IB: Business Management - Notes on Marketing (Unit 4.1)

“Marketing is the identification, anticipation, and satisfaction and of customer needs and wants profitably. “

• Marketing is important to businesses as they will need to satisfy customer needs and wants to survive and also to prevent them from buying from any rival businesses.


• They will have to appeal to people by the use of price, product, promotion and place.


• The right price has to be chosen because it is crucial that the customer can afford the product and so they don’t buy from other competitors


• The right product has to be selected as the product has to be appealing to the customer in terms of size, colour, functions. This is needed to satisfy customer needs and wants


• Promotion is crucial as they need to make consumers aware of the product and to be persuaded to buy it.


• Place is also important because it has to be fitted to suit customer’s convenience

The marketing mix is a key part in marketing as it involves the success the product will produce if it is marketed properly.

• A business that sells mainly to customers and private individuals(like the general public) will be called consumer markets.


• While a business that sells to other businesses or organizations will be involved in commercial or industrial markets.


• A business usually wants to know three things;

-          Market share that they hold

-          Market size

-          Number of competitors

-          Potential for market growth

• MARKET SIZE is usually defined by;


• customer base, if there is a large customer base then that means that the market is quite diverse and has a lot of opportunity of expansion(like the fast food market) while if the market is quite niche then there will be a limited customer base and therefore small market size


• barriers to entry, if there are many natural or legal barriers of entry it restricts market size and it means that the market will have fewer suppliers as there are fewer competitors


• location, a business may operate in certain geographic area because the market there may be more successful due to the abundant potential customers there. However, now increasing globalization prevents a market from being hindered by geographical restraints.


• Volume of sales- if the value of sales in this market is very small then the market is not likely to be big as suppliers are not attracted into this market.

MARKET GROWTH- another thing that businesses will be interested in

• this refers to the increase of size that a market faces over time


• during market growth it means that more suppliers enter the market and the volume of sales go up.


• This market growth usually attracts more suppliers in because of the potential of bigger profits.

MARKET SHARE

• How much of the overall sales in the whole market a certain business owns.


• This is usually used to measure success of the business over time


• See how well the business is doing over competitors

 

 

• Market concentration looks at the degree of competition within a market;


• This is done by calculating the market shares of the largest firms in the market (like apple and Microsoft in the computer industry)


• This is given by the concentration ratio, if there is a 98% concentration ratio is means that the two top competitors(apple and Microsoft) produce for 98% of the whole industry- so this will not be a very competitive industry because the small businesses only account for 2% of the whole industry


• Such big industry-dominating businesses are called oligopolists

PRODUCT ORIENTATION

v  This is used to describe a business that focuses production on the product in itself instead of producing to satisfy customer needs and wants.

v  The product is produced in the belief that it will be sold, and it may be for popular products like the iPod

v  Sell products that they can make, rather than selling products with elevated costs due to marketing

v  Product orientation may be successful because of Say’s law (supply creates its own demand)

v  Producers are not always sure if they will sell, it is highly risky because suitable market research has not been undertaken, money for R&D may be wasted as a cause of “hit and miss” strategies

v  Many product orientated businesses may focus upon producing more luxury items where the production process may be scrutinized with more detail- so quality can be assured

MARKET ORIENTATION

• A business that focuses upon satisfying customer needs and wants, and produces what the customer wants rather than what they can actually make


• Usually involves market research to look into the present and future demand of the product- this is costly but it is worthwhile as it makes the product less risky and more likely to form good profits


• A market orientated business is also flexible to changes in the market, like different trends because they can be kept up to date


• A disadvantage for market orientation is the costs associated with it, there is not always a guarantee this method will be successful.

FACTORS THAT AFFECT MARKET OR PRODUCT ORIENTATION

• What type of product it sells, if it is a product that is quite homogeneous then not a lot of market research will be required.


• Organization culture- if a firm believes that customers should be placed above all then it will usually be market orientated


• Nature of barriers to entry; firms with less competition will be more product orientated and vice versa. This is because if there are many barriers of entry there will be less suppliers in the market, so consumers don’t have such a broad range of options

Social marketing

• Usually for a cause instead of selling of products


• Like the government imposed adverts to prevent people from taking drugs and smoking, this is a form of social marketing


• “an activity that affects social behavior”


• This differs from commercial marketing because people are not persuaded to buy anything, but instead informed of causes and persuaded against a certain action


• A challenge to social marketing is the unwillingness of people who change their social behavior due to habits


• Clients of social marketing agencies are usually non-profit organizations and this is how it differs from profit making organizations